Saturday, September 8, 2018

HFF announces $56 million refinancing of the Baltimore Washington Logistics Center in Jessup, MD


Daniel McIntyre
WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announces a $56.325 million refinancing for the Baltimore Washington Logistics Center, a two-building, Class A industrial complex totaling 1,013,728 square feet in Jessup, Maryland. 

The HFF team worked on behalf of the borrower, a joint venture between AEW Capital Management, L.P. and Columbia-based Manekin, LLC, to secure the loan through Citizens Bank.

The Baltimore Washington Logistics Center is located at 7600 and 7540 Assateague Drive in the heart of the Baltimore-Washington Corridor. 

This location has excellent access to U.S. Route 1, U.S. Interstate 95 and the Baltimore Washington Parkway (Route 295), three of the Mid-Atlantic region’s primary thoroughfares. 

Fred Wittmann
Additionally, the property is not far from BWI Thurgood Marshall Airport and the Port of Baltimore.  7600 Assateague Drive is a vacant warehouse/distribution building totaling 853,503 square feet. 

Building II (7540 Assateague Drive) is a 160,255-square-foot, refrigerated warehouse/distribution building that is fully leased to G Cefalu & Bro, a leading food service distributor of produce and seafood in the Mid-Atlantic region.

The HFF debt placement team representing the borrower included senior director Daniel McIntyre, senior managing director Fred Wittmann and managing director Greg LaBine.


CONTACTS:

DANIEL MCINTYRE
HFF Senior Director
(202) 533-2500

GREG LABINE
HFF Managing Director
(617) 338-0990


KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420



HFF announces acquisition financing for Charlotte, NC retail strip center



Seneca Place, 5033 South Boulevard, Charlotte, NC

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad located in Charlotte, North Carolina.

The HFF team worked on behalf of the borrower, Charlotte-based New Forum, to place the floating-rate loan with Ready Capital Structured Finance. 

Cory Fowler
Seneca Place comprises a 34,710-square-foot retail strip center and a 6,600-square-foot outparcel pad that features a diverse mix of tenants. 

Through a thoughtful renovation plan, New Forum plans to increase occupancy by attracting a contemporary tenant mix that will reposition the property as experiential retail. 

 Situated on 4.21 acres at 5033 South Boulevard, Seneca Place in the heart of the rapidly growing Madison Park, Montclaire and Archdale communities and is approximately three miles northwest of South Park and seven miles south of Uptown Charlotte. 

 More than 91,700 residents earning an average household income of $103,279 live within a three-mile radius of the center.

The HFF debt placement team representing the borrower consisted of senior director Cory Fowler.


CONTACTS:

CORY FOWLER
HFF Senior Director
(704) 526-2800

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420


Friday, September 7, 2018

Illustrated Properties’ Kathryn Gillespie Obtains $24.9 Million Oceanfront Mansion Listing in Manalapan, FL

Manalapan, FL Mansion at 1500 South Ocean Boulevard
For Sale at $24.9  Million

Manalapan, FL – Kathryn Gillespie of Illustrated Properties, a member of The Keyes Family of Companies, has secured the exclusive listing of a waterfront mansion in Manalapan with an asking price of $24.9 million.

Located on a 1.6-acre lot, the six-bedroom home at 1500 South Ocean Boulevard totals 11,673 square feet under air and includes nine full and three half-bathrooms.

The estate has a total of 356 feet of waterfront property, of which 178 feet are on the Atlantic Ocean. The waterfront loggia, 60-foot concrete dock equipped with electricity and infinity edge pool and spa round out the amenities that provide the one-of-a-kind experience synonymous with the South Florida lifestyle.


Kathryn Gillespie

Along with multiple bedroom balconies overlooking the Intracoastal Waterway, the Manalapan mansion includes a his and her master bath, private office, guest suite, gathering lounge, club/media room with state-of-the-art sound system and wet bar, fireplaces, exercise room, gourmet kitchen with Sub-Zero and Wolf appliances, wine chiller, elevator, upstairs and downstairs laundry rooms and four car-stall air conditioned garage, with the potential to park eight cars.

“This is not just a home - it’s a work of art,” said Gillespie. “When I took on this listing, I knew a home of this caliber was special. From the attention to detail both in the home and out, the breathtaking waterfront sunrises and sunsets and the natural flow from room to room, the energy the house conveys is like no other.”

Randall Stofft
The 1500 South Ocean Boulevard mansion was designed by Randall Stofft Architects and constructed by Terry Cudmore Builders in 2008.

“Kathryn’s work in the Palm Beach County luxury market has been outstanding,” said Kevin Leonard, Vice President of Luxury at Illustrated Properties. “In just a short period of time, we have seen her produce a level of work that is unmatched, while surpassing the expectations in quality service we look to provide to each client.”

In June, Gillespie’s exclusively listed Boca Raton mansion was selected as a finalist in HGTV’s international “Ultimate House Hunt 2018.” The 899 Enfield Street home, which is on the market for $11.5 million, was one of 12 worldwide properties to be chosen for the “Waterfront Homes” category.

Gillespie has lived and worked in the Palm Beach County area for more than 30 years, providing her a deep connection to the area and her clients.

 She has been heavily involved in the local community, serving as past chair of the Boys and Girls Club Board of Directors in Boca Raton and is involved with The Arc of Palm Beach County and Impact 100 Palm Beach County.

Kevin Leonard
Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate.

In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the sales volume of their closest competitor.


CONTACT:

Eric Kalis
Account Director, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road



HFF announces $18 million sale of Lakewood, WA, apartment community


The James Apartments, Lakewood, WA          Photo by Holland Photography                                                                                                  
Ira Virden
SEATTLE, WA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.05 million sale of The James, a 144-unit, garden-style apartment community in Lakewood, Washington.

The HFF team represented the seller, FPA Multifamily, LLC, and procured the buyer, Watt Companies.

The James is located at 4828 123rd Street SW near several of Pierce County’s largest employment drivers, including the adjacent Joint Base Lewis-McChord (JBLM). 

 Additionally, the property provides immediate access to various Seattle MSA commuting options such as Interstate 5 and the Sound Transit Lakewood station. 

Christopher Ross
 The 14-building property consists of studio, one-, two- and three-bedroom units averaging 731 square feet.  Originally constructed in 1976,

 The James has recently undergone significant common area improvements, including siding replacement, the addition of balcony enclosures, updated landscaping, new signage, a resurfaced parking lot, clubhouse and fitness center remodel and renovations/upgrades to approximately 50 percent of the units.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Christopher Ross.

CONTACTS:

IRA VIRDEN
WA Lic. #108308
HFF Senior Managing Director
(503) 224-0444

CHRISTOPHER ROSS
WA Lic. #105465
HFF Director
(206) 576-0031

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500

http://www.fpamf.com/.

Marcus & Millichap Brokers $1.32 Million Sale of 12,740-SF ABRA Auto Body & Enterprise Rent-a-Car Site in Cincinnati, OH



Scott Gould
CINCINNATI, OH, Sept.  7, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of ABRA Auto Body & Enterprise Rent-a-Car, a 12,740-square foot net-leased property located in Cincinnati, OH, according to Justin W. West, regional manager of the firm’s Orlando office.

The asset sold for $1,325,000.

Scott Gould, Ray Turchi, and Chris Travis, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

Ray Turchi
The buyer, an Ohio based investor, was secured and represented by Joel Dumes, an investment specialist in Marcus & Millichap’s Cincinnati office.

 “This was an opportunity for the Seller to reposition his capital and take advantage of the market,” said Gould. “The location has a long history of successful performance that bodes well for the future.”

ABRA Auto Body & Enterprise is located at 6947 E Kemper Rd in Cincinnati, OH.

ABRA has three decades of auto body repair experience with state-of-the-art collision repair technology. The company is committed to taking care of its customers’ auto repairs through quality workmanship, superior service, and dedication to detail in everything they do.

 Contact:

Justin W. West
Vice President / Regional Manager, Orlando
(407) 557-3800


Thursday, September 6, 2018

NAI Realvest Closes Long-Term Lease on a 6,000+ SF Building in Springview Industrial Park, DeBary, FL for Expanding RV Service Firm


Michael Heidrich
DeBARY, FL – NAI Realvest recently closed on the long-term lease of a 6,020 square foot stand alone industrial building at 220 Springview Commerce Drive , in the Springview Industrial Park in DeBary.

Michael Heidricha principal of the firm, brokered the transaction representing the local landlord Lakeside Professionals, LLC.  

 The new tenant, KA RV Repair, LLC of Deltona, consists of a team of experts providing complete recreational vehicle services including both in-shop and mobile repairs.   

Springview Industrial Park is located off Shell Road andUS Highway 17-92 in DeBary north of Orlando .

 Contacts:

Michael Heidrich, Principal, NAI Realvest
407-875-9989  mheidrich@realvest.com

Robin L. Webb, CCIM, Managing Director, NAI Realvest, 
407-875-9989  Rwebb@realvest.com

Patrick Mahoney, President, NAI Realvest
407-875-9989  pmahoney@realvest.com

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



RIVERGATE KW RESIDENTIAL Expands Bluerock Real Estate Relationship with New Charlotte Assignment

  
Rendering of Ashton Reserve at North Lake, Charlotte, NC

 Charlotte, N.C. (Sept. 6, 2018) — RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has secured a new management assignment near the Northlake Mall in Charlotte.

The addition of the 473-unit Ashton Reserve at Northlake expands the company’s existing relationship with community owner Bluerock Real Estate.

RKW also manages five other Bluerock assets in the Carolinas and Florida including Arlo, which is a lease-up near Uptown Charlotte.

Marcie Williams
“We are thrilled to get this new assignment after our successful partnership with Bluerock,” said Marcie Williams, president of RKW.

“This continues what has been a historic year in the life of our company. Fueled by our leadership, staff and incredible team of managers on the ground, RKW is reaching new heights in our home base of Charlotte and beyond.”

The Ashton Reserve addition bolsters RKW’s aggressively expanding portfolio, which now totals more than 13,000 units. That growth is leading to significant accolades for the company.

For instance, the Charlotte Business Journal recognized RKW in its annual list of the largest property management companies in the area for the first time in the company’s four-year history.

Sarah Girand
Located at 10320 Grobie Way, Ashton Reserve offers a mix of high-end one, two and three-bedroom apartments. Unit features include plank flooring, large soaking tubs, walk-in closets, elegant kitchens with chef islands and granite countertops and washer and dryers.

Community amenities include a dog park, car care center, private media center, propane grilling stations, valet dry cleaning service, a state-of-the-art fitness center and cyber café with Wi-Fi printing.

Ashton Reserve residents can take advantage of the community’s proximity to Northlake Mall – a premier retail destination. The community also promotes an active outdoor lifestyle, with walking trails surrounded by lush landscaping and a large fire pit where friends can gather and enjoy the beautiful Charlotte evenings.

“We have enjoyed our working relationship with RKW and look forward to expanding on it with Ashton Reserve,” said Sarah Girand, Senior Vice President of Asset Management for Bluerock “We have no doubt that our residents will be in great hands and have all of their needs met.”
  
Contact:

Eric Kalis
Account Director, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road


Marcus & Millichap Arranges $845,000 Sale of nine-unit East Bay Drive Apartments in Largo, FL


1460 East Bay Drive Apartments, Largo, FL

Sebastion Harris
 LARGO, FL, Sept. 6, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 1460 East Bay Drive Apartments, a 9-unit apartment property located in Largo, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $845,000.

Sebastian Harris, Ned Roberts, Michael Donaldson and Nicholas Meoli, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, purchased the property as part of a 1031 exchange.

Ned Roberts
The buyer was attracted to the property because of its frontage on East Bay Drive and .3 Acres of undeveloped land on-site.

 “This is another example of the value-add opportunities investors are looking for,” said Roberts. 

“At $93,888 per unit, this ended up being the highest price per unit paid for a 60’s built multifamily community in Largo history, added Harris”

Built in 1968 of concrete block construction, 1460 East Bay Drive Apartments offers an attractive unit mix of two-bedroom/one-bath units. All units have tile flooring and updated cabinetry.

The apartment community is within walking distance to Largo City Hall, the Largo Police Department Headquarters and a community recreation center.

Michael Donaldson
1460 East Bay Drive Apartments are in Pinellas County – Florida’s most densely populated county in the state. Pinellas County has over 38,000 businesses with the top key sectors in health services, tourism, manufacturing and financial services.

The Pinellas County area is known for its white sand beaches as well as being praised by Travel + Leisure Magazine as a food and arts scene.

Contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700



Phase One Of Atlanta’s Largest Park Destination, Westside Park at Bellwood Quarry, Is Officially Underway


Atlanta Mayor Keisha Lance Bottoms
                                                                                               
                                                                     
ATLANTA, GA (Sept.6, 2018) – Mayor Keisha Lance Bottoms and other officials broke ground on Phase One of Westside Park at Bellwood Quarry.

Slated to open in 2019, Phase One of Atlanta’s largest park will include a signature gateway enticing guests to explore the new passive park.

This phase will also include trails leading to the grand overlook area for views of the quarry-turned-reservoir.

Lauren Standish

At the center of the design for this monumental project is internationally recognized landscape architecture and planning firm, HGOR. For Phase One, the City of Atlanta tasked the design team, led by HGOR Principal, Lauren Standish, with developing the comprehensive vision and design.

“If you look at the topography of the park, just the existing environmental factors, it’s a fascinating place,” said Standish. “The juxtaposition of the quarry lake with the open lawn, preservation of trees and integration of environmental-based design is really exciting.

"We hope this park will tell a story of community and place and become a destination that will help shape and define the city of Atlanta for generations to come.”

Rendering of entrance area to planned
Westside Park at Bellwood Quarry, Atlanta, GA

 HGOR is collaborating on the development of these elements with Long Engineering, and is proud to partner with project leaders, Reeves Young and CERM.

 Team members include John Portman & Associates, Long Engineering, EcoWorks, Full Circle Communication, Denyse, BioHabitats, Sherwood Design Engineers, S.L. King & Associates and Sykes Consulting.

Upon completion, the park will encompass a total of 280 acres, nearly one hundred acres larger than Piedmont Park and will become the connective tissue linking the Proctor Creek Greenway and Chattahoochee River Corridor with the Atlanta Beltline.

Contact:

Taylor Rowden
Hilary Harmo
Liz Lapidus PR
404-688-1466



Cambria Hotel Nears Completion on Charleston, SC Riverfront


  
Cambria Charleston Riverview Hotel, 84 Ripley Point Drive
on Ashley River, Shelton, CT

Jeremy Buffam
SHELTON, CT– Over the top and heading toward the finish line, New Castle Hotels & Resorts and  RREAF Holdings celebrated with Freese Johnson Contractors of Atlanta, as the Cambria Charleston Riverview, a 126-room hotel, located at 84 Ripley Point Dr. on the Ashley River, nears completion.   The hotel is projected to open at the end of the year.  

“It’s been a long, hot and wet summer and this terrific team has done a yeoman’s job of keeping the schedule on track,” said Jeremy Buffam, vice president of capital projects for New Castle. 

Brandon Miller
 “This milestone is an opportunity to thank them for their hard work, diligence and success, and encourage everyone as we approach the always challenging home stretch.”  Workers signed a lobby wall and enjoyed a catered lunch of fajitas and frozen (virgin) margaritas.

"We are excited to pass another milestone in the construction of our new Cambria Hotel in Charleston,” said Brandon Miller, president RREAF Holdings.    “This hotel will be a significant addition to our growing portfolio of hotels.  Charleston is a very popular destination and we’re looking forward to being an integral part of the local community."

“Travelers seek out local relevance when choosing hotels and soon, Charleston’s nearly 5 million annual visitors will have a brand-new upscale option that pays tribute to Charleston’s celebrated culture and history when they visit this iconic city,” said Trevor Stratton, the hotel’s general manager. 

Trevor Stratton
Stratton said the hotel will begin accepting applications for 25 – 30 positions in the coming weeks. 

Contact:

Lauralee Dobbins
President
WriteTouchPR.com
Lauralee@WriteTouchPR.com
856-979-8929
Member SATW
2017 Pepperpot Award Winner



Camille Renshaw to make keynote speech at Urban Land Institute Diversity Conference in Boston


Camille Renshaw

NEW YORK, NY, Sept. 6, 2018 – Camille Renshaw, CEO and co-founder of B+E, the first tech-driven brokerage and trading platform for net lease real estate, will be a keynote speaker at the Urban Land Institute’s Changing World Speaker Series, “Breaking the Mold: Diversity and Inclusion in Real Estate,” October 8–11, 2018 at the Boston Convention & Exhibition Center.

 The Urban Land Institute is the oldest and largest network of cross-disciplinary real estate and land use experts in the world.  

 At the conference, experts will discuss ways in which the real estate industry can become more diverse and inclusive, methods for creating and embracing greater diversity among the people it serves, and the importance of an inclusive real estate industry for the future.

Boston Convention & Exhibition Center
 Prior to B+E, Camille Renshaw was Head of Sales for Ten-X (a Google Capital company), a leading online marketplace for commercial real estate with products such as Auction.com. 

Prior to Ten-X, she founded the Stan Johnson Company’s New York office where she led their sales team as its top producer for five years.  

Before this, she was Director of the US Capital Markets division of Colliers International and a Top 40 Worldwide Producer. 

Renshaw originally entered commercial real estate as an owner, after founding Dyzco Technologies and successfully selling it to American Financial Services Corp, Inc.
  
Contact:

John Vita
John Steven Vita Communications
847/853-8283