Native Realty Arranges Lease for New Flagler Village Bar/Live Music Venue

Sara Dorfman

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale commercial real estate firm led by Jaime Sturgis, successfully arranged a lease on behalf of the founders of Rank & File Social Club, a cocktail lounge and live music venue scheduled to open in Fort Lauderdale’s Flagler Village neighborhood in early October.

 The firm’s Sara Dorfman represented Rank & File in the transaction.

Stephen Barbagallo

The lease is for a 3,000-square-foot venue that can seat up to 100 patrons at 702 NE First Ave. 

Rank & File is set to join a growing restaurant and entertainment scene in the increasingly popular Flagler Village, where Native Realty is based at 908 North Flagler Drive.

Brothers Mark and Stefano Barbagallo created the Rank & File concept, which is inspired by throwback neighborhood bars where patrons and bartenders are on a first-name basis. 

The brothers plan to focus on local acts for the music program and have arcade-style video games and board games on the venue’s garden patio.

Dorfman guided the Rank & File founders through a search of available Flagler Village locations and the negotiation of lease terms, which were not disclosed.

Amanda Roy

“We are thrilled to help Mark and Stefano bring Rank & File to our home base of Flagler Village,” Dorfman said. “This transaction underscores the neighborhood’s emergence as a hub for creative entertainment concepts.

We look forward to continuing to play an active role in the evolution of Flagler Village.”

The Rank & File transaction continues a busy stretch of activity for Native Realty.

Jaime Sturgis

On June 29, Sturgis and Amanda Roy closed the $6.75 million sale of mixed-use Seagrape Commons, a fixture in Lauderdale-by-the-Sea for more than 50 years.

In May, Dorfman completed the record-breaking sale of an Airbnb rental property in Fort Lauderdale’s popular Victoria Park neighborhood.

 The 808-812 NE 16th Terrace property changed hands for $1.65 million, the highest sale price in Victoria Park since at least 2006 and the most expensive in the history of the neighborhood on a price per unit basis.

For more information, please contact:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.nativere.com. 

Daum Commercial Helps Dedeaux Properties Sell Seven Industrial Buildings in Los Angeles County for $50 Million

Dennis Sandoval

CITY OF INDUSTRY, CA – DAUM Commercial Real Estate Services has directed the individual sales of seven buildings that together comprise Echelon Business Park, a newly-constructed industrial campus in the City of Industry, California on behalf of the seller and project developer, Los Angeles-based industrial development firm Dedeaux Properties. The total consideration of all sales was approximately $50 million. 

The seven freestanding buildings, which range in size from 27,438 to 43,166 square feet, received offers on building plans well before the project broke ground, according to Dennis Sandoval, Executive Vice President and Branch Manager in DAUM’s City of Industry office.

Bryan Sandoval

“The rapid sale of these assets demonstrates the pent-up demand for industrial ownership opportunities in Los Angeles County, particularly in infill industrial submarkets like the San Gabriel Valley,” says Sandoval, who directed the transactions along with DAUM Executive Vice President Robert Dipre and Associates Bryan Sandoval and Kurt Yacko.

“The buildings were under contract since last year, before the foundation for the project was even laid. 

"We eventually received back-up offers on each of the properties and ultimately sold to seven separate buyers, including a mix of distribution and light manufacturing users.”

Robert Dipre

Industrial vacancy in the San Gabriel Valley consistently hovers just above 1.5 percent, with smaller, newer, dock high product vacancies often at less than one percent, notes Sandoval.

“After directing the sale of the land parcel to Dedeaux Properties last year, we worked closely with the developer to outline the strategy on this project,” explains Sandoval. “We understood the tremendous demand for industrial space and recognized that most new industrial developments in the region are over 100,000 square feet.
"We advised Dedeaux to leverage the market demand by constructing smaller-sized facilities in the 25,000 to 45,000 square-foot range, rather than a single large building. 

Kurt Yacko

"These buildings immediately filled a void in the market for modern product suited to smaller distributors and manufacturers, meeting the significant demand for property ownership in the small industrial sector.”

The buildings feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling, and two-story office space. 

The Echelon Business Park campus also offers 60, 10, and 605 Freeway access allowing convenient routes to the Ports of Los Angeles and Long Beach.

Echelon Business Park is located at 801-821 Echelon Court in City of Industry, California.

  

For more information, please contact:

 Elisabeth Manville / Jenn Quader

Brower Group

(949) 955-7940

emanville@brower-group.com

HFF announces the sale of mixed-use property in Red Bank, NJ

Mixed-Use Building, Broad and Front Streets,
Downtown Red Bank, NJ

Marc Duval

FLORHAM PARK, NJ –– HFF announces the sale of a 27,033-square-foot, generational, mixed-use property in the New York City-area community of Red Bank, New Jersey.

The HFF team marketed the property on behalf of the seller, Broad Street Realty Association, LLC.  Saxum Real Estate purchased the property free and clear of existing debt.

The iconic three-story building is situated at the corner of Broad and Front Street in downtown Red Bank, an affluent town named “Third Best Town in the U.S.” by Smithsonian Magazine and approximately 25 miles south of New York City.

The property’s transit-oriented location allows access to New York via train, ferry and bus. 

Jose Cruz

With a “Walker’s Paradise” Walk Score® of 96, the property’s location in a vibrant downtown area places it among theaters, art galleries, restaurants, retailers, several yachting and rowing clubs and luxury waterfront homes. 

 2-10 Broad Street consists of ground-floor retail fully leased to Urban Outfitters and upper-floor boutique office space.

  The property has views of the Navesink River from the upper floor and a rear terrace for amenity space.

The HFF investment advisory team representing the seller included director Marc Duval, senior managing director Jose Cruz, managing director Chris Munley and senior director Stephen Simonelli.

Chris Munley

“We continue to see investors targeting amenity-rich markets that are transit friendly and within close reach of urban areas that will be attractive to millennials,” Duval stated.

HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.

Saxum Real Estate is a vertically integrated privately-held real estate investment and development company that serves as owner, operator and developer of all assets in its portfolio. 

Saxum specializes in creating value through repositioning and developing assets in transit-oriented markets with high growth potential.  

Visit http://www.saxumre.com for more information.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF advises FORE Partnership in £70 million acquisition loan for Tower Bridge Court, London

Tower Bridge Court Office Building,
London, England

LONDON, ENGLAND –– HFF Real Estate Limited (HFF) announces the £70 million acquisition financing of Tower Bridge Court, an iconic office building located in London’s South Bank submarket.

The HFF team advised FORE Partnership on the transaction, and the financing was provided by a leading debt fund.  In conjunction with this acquisition loan, the lender is also extending financing toward the refurbishment of the property.

Aurélien Collignon

Tower Bridge Court is the closest privately owned building to Tower Bridge, a global landmark with international appeal.  Originally developed in 1990, FORE Partnership plans to reposition Tower Bridge Court into a forward-looking workspace. 

 The result of the refurbishment will be a true “jewel box” building with increased lettable area and improved amenities, all while prioritising FORE Partnership’s sustainability and social impact principles. 

Aurélien Collignon, investment director at FORE said, “We are tremendously excited to have closed on this landmark asset in one of London’s most compelling submarkets.  HFF worked quickly to assist us with thinking through the financing of this transaction and brought forward a number of debt funders that provided very compelling terms.”

Claudio Sgobba

The HFF debt placement team included managing director Claudio Sgobba and director Andrew Hornblower. 

“Tower Bridge Court is an iconic and exciting transaction that exemplifies FORE’s abilities as a savvy investor to identify and unlock value through its deep knowledge of real estate, engineering, sustainability and capital markets,” Sgobba said.

“We are thankful to have worked with the team on this transaction and are looking forward to many more opportunities to assist them in the future,” Hornblower added.

FORE Partnership is a transformational real estate investment firm that addresses the specific needs of family offices and private investors for greater alignment of their property investments with their core values.

  FORE’s investment approach drives returns with a holistic view on sustainability, design, occupational trends, community, and the built environment. 

Andrew Hornblower

 The firm calls this approach “responsible real estate.”  FORE has developed a direct co-investing platform that sources, manages and realises value through hands-on, creative real estate strategies in the UK and Western Europe.

  The team has a successful €5 billion track record spanning three decades.  FORE’s co-founders are Basil Demeroutis who was previously a Partner of Capricorn Investment Group, a private investment firm, and Cording Real Estate Group, the European property investment and asset management firm.  

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

www.forepartnership.com

HFF announces $18.2 million financing for Fontaine Business Park in Columbia, SC

Fontaine Business Park, Columbia, SC

 WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces $18.2 million in financing for Fontaine Business Park, a four-building office portfolio totaling 253,038 square feet in Columbia, South Carolina.

Jamie Leachman

The HFF team worked on behalf of the borrower, Diversified Real Estate Ventures, to secure the five-year, floating-rate loan through Bridge Investment Group.  Loan proceeds were used to refinance the property.

Situated within the Columbia MSA, Fontaine Business Park is surrounded by more than 800,000 residents and various employers that are attracted to the state’s second largest MSA.

Positioned less than four miles from two major highways, I-20 and I-77, Fontaine Business Park provides excellent access to the greater area and the entire mid-Atlantic region.

Columbia’s position as the state capital provides a tangible insulation for the entire real estate market and the surrounding office market. Given its proximity to the state capital the property has historically been around 90 percent leased due to the constant demand from state and local government tenants.

Cory Fowler

The HFF debt placement team representing the borrower consisted of senior director Jamie Leachman, senior director Cory Fowler and associate Drake Greer.

Diversified Realty Ventures is a privately held real estate investment and advisory firm based in Bethesda, MD. 

 The firm maintains flexible investment criteria to respond quickly to changing market conditions, specializing in assets that are undervalued due to operational or financial distress. 

 Since its founding in 2010, DRV has amassed a portfolio of 1.1 million square feet of office, flex, and retail space as well as over 625 units of multifamily and student housing, in the acquisition and development of over $150 million worth of diversified properties.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

HFF announces $30 million sale of and $25 million financing for Physicians Medical Center in the San Francisco Bay Area

Physicians Medical Center,  901 Campus Drive, Daly City, CA

Paul Slye

SAN FRANCISCO, CA –– HFF announces the $30 million sale of and the $25 million financing for Physicians Medical Center, a 70,705-square-foot, purpose-built medical office building immediately south of San Francisco in Daly City, California.

The HFF team represented the seller, Swift Real Estate Partners, and procured the buyer, Pinnacle Capital Management Services (PCMS) and joint venture investment partners, Harrison Street Real Estate Capital LLC. 

Additionally, the HFF team worked on behalf of the buyer to secure the non-recourse, floating-rate acquisition loan through one of its relationship lenders.

Evan Kovak

Physicians Medical Center is located at 901 Campus Drive just 15 minutes from the Financial District and San Francisco International Airport and one mile from two local hospitals; the 357-bed Seton Medical Center and the 120-bed South San Francisco Medical Center. 

The property is situated on 2.48 acres within one of the strongest medical office markets in the country with excellent highway accessibility via Interstate 280 and State Routes 35 and 1.  

The population within a three-mile radius of the building is more than 172,000 residents earning an average household income of $111,356. 

 The three-story building is 92 percent leased – the majority to two nationally recognized anchor tenants, Palo Alto Medical Foundation – Sutter Health and Campus Surgery Center – AmSurg/Envision Healthcare.

Andrew Milne

While under ownership, Swift improved the building’s interior and exterior.  Interior upgrades included a full lobby renovation, mechanical and elevator upgrades and interior signage replacement.  

Exterior improvements included envelope, lighting and landscape upgrades as well as an asset signage package.  In addition to the building’s upgrades, Swift stabilized the asset with longer term leases, including two anchor tenants.

“We are delighted to close our second successful transaction with Swift and initiate our first with the team at HFF,” said PCMS CEO, Paul Slye.  

David Dokko

“Physicians Medical Center joins our growing portfolio of managed and joint venture investments with Harrison Street Real Estate Capital.  The fundamental strengths of this location and property will be enhanced as we continue to improve the property and strengthen its institutional grade tenant base.”

The HFF investment advisory team representing the seller included managing director Evan Kovac and director Andrew Milne, members of HFF’s national healthcare capital markets group, and director David Dokko from HFF’s San Francisco office.

HFF’s national healthcare debt and equity placement team representing the borrower consisted of senior directors Zack Holderman and John Chun and senior associate Trent Jemmett.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley. 

Swift is a vertically-integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners. 

Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. 

John Chun

Since inception, Swift has owned and operated real estate valued in excess of $3 billion across more than 10 million square feet. Swift’s first institutional fund was raised in 2013 and is fully deployed. 

Swift’s Fund II was raised in 2016 and is substantially committed. Swift’s investor base includes U.S. pension funds, endowments and foundations, as well as foreign investors and investment advisors. 

Swift's professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, and construction management, property management and creative and marketing services.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

www.harrisonst.com.

HFF expands its multi-housing investment advisory team with addition of senior director Bo Moore in Atlanta, GA office

Bo Moore

Jason Nettles

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its multi-housing investment advisory team with the addition of senior director Bo Moore in its Atlanta office.  

Mr. Moore will work with senior managing director Jason Nettles and senior director Megan Thompson to execute multi-housing investment advisory transactions in the southeastern United States. 

He joins HFF from ARA where he was a director since 2010 and worked on the marketing, sale and raising of capital for multi-housing properties throughout the Southeast. 

During this time, he was involved in nearly $2 billion of closed multi-housing transactions.  Prior to ARA, he worked at Carter & Associates, LLC in a tenant representation role. 

Megan Thompson

 Mr. Moore is a member of the Atlanta Commercial Board of Realtors and holds a Bachelor of Business Administration degree from Furman University.

“Bo is a great addition to our current multi-housing team in Atlanta,” Nettles said.  “In addition to his experience in the Atlanta area, he has been active in secondary markets in Tennessee and Alabama, which will benefit our clients located in or looking to invest in these locales.”

For more information, please contact:

 KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com