Thursday, May 3, 2018

Plaza Advisors Brokers Sale of Trophy Southtown Center in Tampa, FL



Southtown Center, Tampa, FL

TAMPA, FL -- Jim Michalak, the lead on the Plaza Advisors disposition team, stated that “this asset was highly sought after by both private and institutional investors resulting in: numerous offers, premium pricing and an expeditious due diligence and closing timeline”.

Jim Michalak
Furthermore, Jim stated, “In today’s E-Commerce sensitive capital markets environment the property commanded a lot of investor attention primarily due to three factors. 

One, its tenant base was relatively internet resistant and was composed of personal care, restaurant and service related tenants”.

 Second, the Publix store, located across the street, is one of the highest sales volume stores in Central Florida.

 Lastly, besides its location, in the epicenter of South Tampa, and affluent demographics the income stream was not reliant on big box users”.

This is the third sale located on Dale Mabry,  for Plaza Advisors, over the past few years. Michalak’s team sold the Winn Dixie Center, just north of I-275 and Marketplace North II in Carrollwood. The aggregate total of these transactions exceeded $43 million.

Michalak declined to identify the sale price of Southtown Center but according to Hillsborough County records it sold for $19.75 million which equates to $452 per square foot.

 For more information, please contact:

Jim Michalak
Managing Partner
Plaza Advisors

3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 1
Fax 831.2627

Levin Johnston Creates Win-Win for Buyer and Seller With $15 Million Multifamily Asset Trade in Redwood City, CA



Sequoia Station Apartments, Redwood City, CA

Adam Levin
            Redwood City, CA – Levin Johnston, one of the top 10 multifamily brokerage teams in the U.S., has directed the $15 million sale of Velocity at Sequoia Station, a 30-unit multifamily community in Redwood City.
Levin Johnston represented both the seller, Old Adobe Management Company, and the buyer, a private owner and investor, in the transaction.
“This asset presented a tremendous opportunity for a valuable trade in one of the strongest rental markets in the U.S.,” says Adam Levin, Senior Managing Director of Levin Johnston. “We supported the seller, a long-time Client, in the acquisition of the property for $10 million in 2015. 
"Now, less than two years later, we were able to secure a strong price for the seller, while simultaneously helping the buyer to grow its portfolio and presence in the Bay Area.”
During its ownership, Old Adobe Management Company implemented an extensive renovation and repositioning campaign, which bolstered the value of the asset and positioned it as especially competitive in the already tight market.
Robert Johnston
“This is an unprecedented level of property renovations, resulting in a property that gives both the buyer and renters the closest option to new construction possible in this supply-constrained market,” says Levin. “New multifamily supply peaked in the Bay Area last year, and the resulting tightening market will see more dramatic growth in average effective rent as 2018 progresses.”
            Levin Johnston was able to help the buyer leverage this current momentum by acquiring Velocity at Sequoia Station as part of a 1031 exchange.
            “One of the most valuable services our firm provides is the ability to look at the big picture and support Clients in making the right moves at the right time,” says Robert Johnston, Senior Vice President of Levin Johnston.
          “In this case, we had a long-time Client with two small properties in the region who was seeking an opportunity to expand his portfolio. We facilitated a smooth 1031 exchange for the buyer, ultimately meeting the needs of both the buyer and seller in this transaction.”

            Velocity at Sequoia Station is located near downtown Redwood City offering residents a short walk to various shopping and dining options as well as multiple public transportation hubs. The property is in close proximity to many of the nation’s top tech employers including Google, Apple, Tesla and several more.
“This community is situated directly in the heart of Silicon Valley, which boasts exceptional renter fundamentals,” states Johnston. “The region is home to a highly educated and high income earning population, providing an opportunity for strong long-term NOI for multifamily owners.”
            The property is located at 1331 Jefferson Avenue in Redwood City, California.
  
For more information, please contact:

Jordan Kruk / Jenn Quader 
Brower Group
(949) 955-7940

Crossman & Co. Closes Parkland Town Center Sale in Parkland, FL


 
Brian Carolan
PARKLAND, FL -- Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has negotiated the sale of Parkland Town Center in Parkland Fla. to a private investor in South America.

Crossman & Company’s Managing Director Brian Carolan represented the New York City based institutional seller in the $6.8 million transaction.

“We received significant interest in Parkland Town Center given its infill location and tremendous household incomes,” explains Carolan.  “Despite a rise in interest rates this year, pricing for destination retail remains strong.”

Crossman & Company has experience in retail and office leasing, property management and investment sales of shopping centers, single-tenant, triple-net assets, as well as mixed-use and lifestyle properties

Jose Chapman
Parkland Town Center sits on 5.5 acres at 6604-6710 Parkside Dr. in Parkland. The center’s 34,930 square feet is 96 percent occupied. Jose Chapman of A+ International Realty represented the buyer.

Parkland Town Center is in the heart of several upscale residential communities just north of Holmberg Road. The shopping destination is close to several 500+ unit residential neighborhoods currently under construction.

For more information, please contact:

Mike Bonts
Public Relations | Brand Development | Content Marketing
(904) 424-6641
www.mbprgroup.com

(407) 581-6242 or


Wednesday, May 2, 2018

14 Investment Sales and Debt Professionals Join JLL in Denver, Phoenix and Seattle


 
Brandon Harrington
 DENVER, PHOENIX and SEATTLE – Multifamily assets continue to be a target for investors, ending 2017 with nearly $140 billion in transaction volume in the U.S. alone.

 To keep pace with demand, JLL announced the expansion of its leading multifamily platform with the addition of 14 professionals across the West, including two industry veterans hired as Managing Directors in the Phoenix office of JLL .

“JLL is committed to an integrated capital markets business to serve the commercial real estate industry. For our multifamily offerings that means global capital access, local market knowledge and capital markets expertise to deliver solutions – whether buying, selling or financing a multifamily asset,” said JLL International Director David Williams.

Matt Steffen
“In 2017, JLL completed more than 600 assignments and $18.7 billion of debt, equity and sales transactions in the U.S. 

"The addition of these talented individuals to our platform in the West further support our commitment to a strong, connected presence in the marketplace,” he added.

Phoenix
Joining JLL in Phoenix are Managing Directors Brandon Harrington and Matt Steffen, a market-leading duo specializing in multifamily debt and equity opportunities nationwide. 

Bringing over 25 years of combined experience, Harrington and Steffen arranged more than $1 billion of financing in the past two years alone, with nearly 75 percent of the volume financed with Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD). Harrington and Steffen join from a nationally recognized brokerage firm, along with two additional team members.

Peter Belisle
Based out of Phoenix, Harrington and Steffen are tasked with growing JLL’s multifamily presence between Denver and Southern California, and will be partnering with investment sales teams in the region.

“The connectivity in our multifamily platform is bolstered by the diverse range of geographic and product offerings we have. 

"Our new partners bring exceptional experience and will continue to deliver the high quality service our clients have come to expect when they work with JLL,” said Peter Belisle, JLL Southwest Market Director.

Harrington holds a bachelor’s degree in business from the W.P. Carey School of Business at Arizona State University, and is a member of the Arizona Multihousing Association (AMA).

David A. Williams
Steffen earned a bachelor’s degree in marine transportation from the California Maritime Academy at California State University (Vallejo) and a professional graduate-level certificate in finance through Harvard University. He is a member of ULI and the AMA.
  
Denver
Expanding JLL’s multifamily presence in Denver are David Martin, Pamela Koster and Mike Grippi. They join from Moran & Company along with three additional team members. Together, they have more than 50 years of experience and nearly $8 billion in multifamily debt and sales transactions.

Added Paul Washington, JLL Market Director, Rocky Mountain Region, “Denver’s strong job growth continues to outpace its robust population growth, which is fueled by the net-migration of an educated workforce. 

" Each of these factors contribute towards the demand for, and the value of, multifamily product. The addition of this highly talented team of professionals to our already strong multifamily platform speaks to JLL’s dedication to serving our clients with the very best strategic advice and execution, and growing our market share as a result.”

Paul Washington
Martin earned a degree in finance from Texas A&M University and holds a Graduate Certificate in finance from Southern Methodist University. He is a member of the Urban Land Institute (ULI) and the National Multifamily Housing Council.

Koster holds a bachelor’s degree from Loyola University of Chicago and a Master’s of Business Administration from Loyola Marymount University. She is a member of ULI and CREW Denver. Grippi holds a Bachelor of Science in economics from the University of Oregon.

Seattle
Managing Director Jim Schneider and Vice Presidents Madeleine Roach and William “Wim” Roach have joined the multifamily platform in Seattle, along with one other team member. 

 A 16-year veteran of HUD originations in the Pacific Northwest, Schneider has closed more than $2 billion in HUD loans in his career, including more than $1.2 billion in the last seven years with his prior firm, Centennial Mortgage.

Brian Kelleher
 Prior to that, he was Director of Operations for PGIM Real Estate Finance, one of the largest FHA loan originators in the country.

“The addition of Jim and his talented team significantly enhances our agency lending platform in the Puget Sound region, giving our clients access to a wealth of experience, insight and support with which to navigate what can sometimes be very complex loan programs,” said Brian Kelleher, International Director, JLL.

Schneider, who was on the tennis and ski teams while an undergraduate at Seattle University, holds a bachelor’s degree from SU and a Master’s of Business Administration in operations, marketing and ECIS from Loyola University in Chicago.

Wim and Madeline Roach, who have closed over $166 million in HUD loans combined since 2016, both hold bachelor’s degrees from Gonzaga University.
   
For more information, please contact:

Contact: Stacey Hershauer
Phone: +1 480 600 0195



Lincoln Property Company Names Commercial Industry Veteran Damien Madsen Senior Vice President



Damien Madsen

ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm, recently announced that Damien Madsen has joined the company as Senior Vice President.

Madsen is one of Central Florida’s most seasoned professionals with 30 years of development and commercial real estate brokerage experience. 
Scott Stahley
At Lincoln Property Company he will be responsible for overseeing office leasing operations and building the office leasing team, said Scott Stahley, Executive Vice President. 
“Damien and I have known each other for 20 years and have often talked about working together.  We finally got the opportunity,” Stahley said.

  
For more information, contact


Larry Vershel or Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com 407-644-4142


Draper and Kramer Promotes David Newton to Regional Property Manager




David Newton
CHICAGO, IL – Draper and Kramer, Incorporated, a national real estate services firm, is pleased to announce it has promoted David Newton to the position of regional property manager.

 
 In his new role, Newton will oversee two rental properties in Draper and Kramer’s Chicago-area management portfolio: 1130 S. Michigan, a luxury high-rise in the South Loop neighborhood; and 1350-1360 N. Lake Shore Drive, a 740-unit apartment community in the Gold Coast.

“Not only has David demonstrated leadership and initiative in every role he has held since joining our team, but he has also shown a real commitment to professional development and upholding our industry’s highest standards,” said Julie Johnson, senior vice president and director of management services with Chicago-based Draper and Kramer.

“We know he is more than ready for the additional responsibilities that come with this position, and we’re incredibly proud to see him take on a new role with energy and excitement.”

Julie Johnson
As regional property manager, Newton will oversee a total of 1,396 rental units and five commercial spaces across 1130 S. Michigan and 1350-1360 N. Lake Shore Drive, as well as a team of 56 employees.

Most recently, he served as property manager of 1350-1360 N. Lake Shore Drive, with direct responsibility for all aspects of operations for the community, including finances, management of on-site employees and supervision of resident services.

 An eight-year veteran of the residential management industry, Newton joined Draper and Kramer in 2013.

Newton is active with a number of industry groups including the Institute of Real Estate Management (IREM) and the Chicagoland Apartment Association. He holds IREM’s Certified Property Manager (CPM) and Accredited Residential Manager (ARM) designations, and was named ARM of the Year by IREM’s Chicago chapter earlier this year. A graduate of Xavier University, Newton holds bachelor’s degrees in business administration and marketing.

For more information, please contact:

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528


Tuesday, May 1, 2018

Hold-Thyssen Completes Office Lease Agreement with Law Firm / CPA at Massachusetts Center in New Port Richey, FL



Carol L. Kinnard

New Port Richey, FL --- Hold-Thyssen, LLC, a full service commercial real estate services firm with offices in Clearwater, recently negotiated an office lease agreement at 7204 Massachusetts Ave. in New Port Richey.

Leasing Associate Carol L. Kinnard negotiated the transaction on behalf of the owners/landlords, John H. and Christina Pimenidis / Kostas A. and Pauline Magganas. 

New tenants Douglas J. Amidon, PA and Christine Amidon, CPA relocated their joint offices from Little Road due to expansion needs, now occupying the 1,120 square foot end-cap suite in the Massachusetts Center. 

7204 Massachusetts Avenue, New Port Richey, FL




The new offices provide greater visibility for Attorney Amidon who specializes in trusts, bankruptcy, probate, family and general practice. Christine Amidon specializes in tax preparation and financial planning. 

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

For more information, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com


The Castell Project Debuts Inaugural Women Speakers in Hospitality (WSH) List



Peggy Berg, President, Castell Project Inc.

ATLANTA,  GA, April 1, 2018—Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, today announced its inaugural “WSH List,” a growing list of female hoteliers and hospitality real estate executives with the knowledge and experience to offer unique perspectives on today’s changing marketplaces. 

Chris Daly, President, Daly Gray Inc.,
Member, Board of Directors,

 Castell Project
Referrals from the list are available to all conference organizers seeking to add diversity to their lineups of highly qualified and sought-after presenters.
“Conference organizers and sponsors have found it difficult to reach outside of their traditional networks to identify diverse speakers. The WSH list is a resource to broaden speaking opportunities for women and create more diverse and interesting programs,” said Peggy Berg, Castell president. 
                “As we researched the speaking opportunities awarded to women, we found that top events, including ALIS, NYU, the Lodging Conference and the Hunter Hotel Conference, have been working to open the podium to female leaders and experts,” Berg added. 

Mary Beth Cuthshall, Senior Vice President
and Chief Business Development Officer, 

HVMG; Member, Board of Directors 
Castell Project
“However, women still are severely underrepresented. Less than one in six speakers at hotel investment conferences are women, even though women comprise 21 percent of attendees, 52 percent of industry employees and 67 percent of the industry’s talent pipeline.”

Eve Moore, Vice President 
of Operations, 
Legacy Ventures;
Member, Board of Directors,
Castell Project
The podium is critical to showing prospective employees that the industry offers a future for women. Opportunities to speak lead to recognition and opportunity for our rising female executives. Castell Project challenges program organizers and sponsors to become more gender inclusive. 


 The Castell Project is focused on providing industry leaders, as well as on-the-ground associates, with points of view that might not otherwise be considered.


Karen Johnson, President,
Pinnacle Advisory Group West; 
Member, Board of Directors, 
Castell Project
The WSH list was distilled from lists of executives in the industry. Women who wish to be added to the list may submit their name, contact information and speaking experience/background to pberg@castellproject.org.  

For more information, please contact:


CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553