EagleBridge Capital Arranges $2.7 Million Mortgage For The Learning Experience in Marlborough Hills, MA

  

The Learning Experience, 70 Simarano Drive, Marlborough Hills, MA

Brian D. Sheehan

Boston, MA -- EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $2,700,000 for The Learning Experience located in Marborough, Massachusetts.

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by a leading Massachusetts thrift institution.

The Learning Experience is located at 70 Simarano Drive in Marlborough Hills, a corporate and residential mixed-use development.  It is a free-standing childcare learning center containing 10,000 sf with a 5000 sf outdoor play area on a 1.82 acre  site.

The property is net leased to The Learning Experience on a long term basis.   Founded in 1980, The Learning Center is one of the nation’s fastest growing pre childcare centers with more than 300 locations across the country. 

Ted M. Sidel

Located within Marlborough Hills are the 350 unit Avalon Marlborough Apartments, the Hilton Garden Inn and Conference Center, and a number of corporations including TJX, GE Healthcare, Quest Diagnostics, Wellington Management, Dow Chemical, Oracle, Lockheed Martin, and the Whole Foods Northeast Corporate headquarters.

Mr. Sidel and Mr. Sheehan stated, “We are pleased that EagleBridge was able to meet the borrower’s requirements and arrange a very attractive long term mortgage financing featuring a most attractive rate, term, and amortization with a flexible prepayment.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, apartments, office, industrial, and r & d buildings, hotels, condominiums, and mixed use properties as well as special purpose buildings. 

  

 CONTACT:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com

HFF announces sale of One North LaSalle in Chicago

One North LaSalle Tower, Financial District, Chicago, IL

Kevin M. Purcell

 CHICAGO, IL, Oct. 22, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of One North LaSalle, a historic, recently renovated, Class A office tower totaling 493,738 square feet in Chicago’s Financial District.

 The HFF team marketed the property on behalf of the seller, Hilco Redevelopment Partners and executives from MB Real Estate Services, Inc., Kevin Purcell and Peter Westmeyer, and procured the buyer, Bridge Investment Group LLC.

Peter J. Westmeyer

 Originally constructed in 1930, the art deco-style office tower has been reimagined for the digital age and offers tenants amenities such as a fitness center, tenant lounge, conference facility, outdoor terrace, bicycle storage and food service offerings. 

One North LaSalle underwent a significant renovation in 2016 and has since experienced tremendous leasing velocity bringing the occupancy at the property to 86.3 percent.

 

Prominent tenants include Property Insight, Youth Guidance, Prometric and Flanagan Bilton.  

Jaime Fink

The 47-story tower has a Walk Score® of 98 and a Transit Score® of 100, as it is within minutes of numerous cafes and restaurants, retail offerings, cultural attractions, and mass transit at Union Station, Ogilvie Transportation Center and the Randolph Street station.   

 The HFF investment advisory team representing the seller included senior managing directors Jaime Fink and Jeffrey Bramson and directors Bryan Rosenberg and Patrick Shields.

 Hilco Redevelopment Partners (www.hilcoredev.com) provides innovative solutions to maximize the value of complex real estate assets by leveraging the extensive capabilities and capital of Hilco Global to efficiently develop and bring new uses to these properties. 

Jeffrey Bramson

As an industry leader in successfully completing large industrial redevelopment projects, Hilco Redevelopment Partners is a trusted partner and principal investor in real estate deals, focusing on finding, redeveloping and reimaging these properties as state-of-the-art warehouses, fulfillment centers, and other industrial facilities located near major transportation hubs, ports, and other strategic infrastructure assets to create supply chain efficiencies for end users. 

HRP’s facilities are developed to meet customer’s needs and located in markets with strong labor pools and dense population.  

Hilco Redevelopment Partners is a unit of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com). 

Bryan Rosenberg

Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, tangible and intangible acquisition and disposition of assets, real estate advisory, strategic equity investments, and much more.   

 Bridge Investment Group LLC (“Bridge”) is a privately held real estate investment management firm with more than $12 billion in assets under management. 

 Bridge combines its 1,100-person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, which Bridge believes offer above-market opportunity—i.e., multifamily, office, seniors housing, affordable housing and real estate-backed fixed income.  

Patrick Shields

Bridge Property Management, L.C., a Bridge affiliate, provides property management and construction services for Bridge multifamily assets.  For additional information, please visitwww.bridgeig.com.

CONTACTS:

JAIME FINK

IL Lic. #471.010204

HFF Senior Managing Director

(312) 528-3650

jfink@hfflp.com

JEFFREY BRAMSON

HFF Senior Managing Director and Managing Broker

(312) 528-3650

jbramson@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Pulte Homes Acquires 70 Acres in South Fort Myers, FL to Develop New 181-Homesite Community

Eagle Reserve Dockside Model, South Fort Myers, FL

Fort Myers, FL — Pulte Homes, one of the nation’s largest homebuilders, has acquired a 70-Acre tract for $5.7 Million in the South Fort Myers area, best characterized by its highly sought-after centralized location. 

Early next year Pulte will begin development of Eagle Reserve with 181 homesites for new single-family homes priced from the mid-$200s. 

 “This community will have wide-ranging appeal and will be particularly attractive to commuters and families,” said Richard McCormick, President of PulteGroup’s Southwest Florida Division.

“Eagle Reserve offers an exceptional location off Camino Real Way which directly connects to Colonial Boulevard ,” he said. “I-75 is only 2 miles east, and US 41 to the west just 2.5 miles, providing great proximity to top rated schools and major employment corridors.”

The centralized location also allows for convenient access to the beaches of Fort Myers, Sanibel and Captiva Islands , as well as to popular retail and entertainment venues.

The new gated community, neighbored by Heritage Palms and Southwest Florida Christian Academy , will be opening in the spring of 2019, offering homebuyers consumer-inspired floor plans complete with Pulte’s Life Tested® features and Smart Home technology.

One- and two-story new home designs will feature large open gathering and dining areas, flexible living spaces, and innovative kitchens, with buyer options to personalize the designs to fit their lifestyle, said McCormick.

Plans for the community include an amenity campus featuring a resort-style pool with large sundeck, pool cabana with covered outdoor seating, and playground area.

To join the VIP interest list or for more information, visit www.pulte.com/eaglereserve or call 888-817-2203.

 CONTACTS:      

              

Richard McCormick, President, PulteGroup-Southwest Florida,

239-495-4800, or richard.mccormick@pultegroup.com.

Beth Payan, Larry Vershel Communications Inc. 407-644-4142, 407-461-3781 or beth@larryvershel.com.   

Marcus & Millichap Arranges Exclusive Listing of Ocean Drive Hotel and Restaurant in Tony South Miami Beach, FL

 

Drew A. Kristol

MIAMI BEACH, FL, Oct. 22, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the exclusive listing of the Ocean Drive Hotel/Restaurant Portfolio, two adjacent properties totaling 17,321-square foot and located at 140-150 Ocean Drive in Miami Beach, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office. 

Joseph P. Thomas

Drew A. Kristol, Joseph P. Thomas, Kirk D. Olson, Adam G. Duncan and Brett McMahon, investment specialists with Marcus & Millichap, have the exclusive listing to market the property on behalf of the seller, a private investor. 

The Ocean Drive Hotel/Restaurant Portfolio is located in the exclusive South of Fifth neighborhood and provides an extremely rare opportunity to purchase two, adjacent trophy assets with in-place cash flow, minimal management responsibility and a potential value-add opportunity. 

Ocean Drive Hotel and Restaurant, 140--150 South Ocean Drive, Miami Beach, FL

Kirk D. Olson

140 Ocean Drive, also known as the Century Hotel, is a 25 Unit, two-story hotel building measuring 8,821 square feet currently master-leased to a local hotel operator. 

150 Ocean Drive, is an 8,500 square foot two-story trophy restaurant property (with an additional 1,500 square feet of patio space) that is currently occupied by the high-end Italian restaurant Forte Dei Marmi’s Chef Antonio Mellino, is a two-star Michelin award winner, and the restaurant is well known for its Northern Tuscany Influences.

Brett McMahon

 This portfolio sits just a few buildings north of Prime 112, and several other high-end eateries along with some of the most iconic high-end condominium towers in South Beach.

Contact:

Scott Lunine

Vice President and Regional Manager

 Miami, FL

(786) 522-7000

 

Core5 Industrial Partners Completes first phase of DeSoto 55 Logistics Center and signs its first lease with DSV Solutions in greater Memphis market

DeSoto Logistics Center, Horn Lake, MS

ATLANTA, GA, – Atlanta-based Core5 Industrial Partners announced  the completion of two inventory buildings in their first development in the greater Memphis Market, DeSoto 55 Logistics Center. 

Lisa M. Ward

 DeSoto 55 Logistics Center is a 175-acre Class-A business park, located in Horn Lake, MS along the I-55 Corridor less than 10 miles to Memphis International Airport, and will encompass over 2.5 million square feet once fully developed.  

Dan Wilkinson

The initial phase of the development was completed in October 2018 and included Building A1, a 581,475 SF cross-dock facility, which is expandable to over 1 million square feet and Building B, which is a 300,145 SF rear-load building. 

 In addition to the completion of the first two buildings, Core5 also signed a pre-lease of 200,000 SF in Building B to DSV Solutions.

“Located less than two minutes from I-55 via Church Road (Exit 287), the property provides outstanding access and proximity to a large and abundant non-union labor pool," states Lisa Ward, Senior Vice President and Managing Director for Core5. 

"This is an ideal location for both regional and national distribution given. The pro-business environment of DeSoto County further strengthens the benefits of this location,” 

Allen Wilkinson

DSV Solutions leased 200,000 square feet in Building B and will begin operations in January 2019. 

 DSV Solutions, a wholly-owned subsidiary of DSV A/S based in Denmark, is a publicly-traded global provider of supply chain solutions to a board set of customers across multiple industries.  

DSV is the fifth largest freight forwarder in the world and had significant growth in the United States after their $1.5 billion acquisition of UTi in January 2016. 

 DSV will utilize the entire 200,000 square feet for an existing client’s distribution facility servicing the Eastern United States.  

The Colliers International team of Dan Wilkinson, Allen Wilkinson and Brad Kornegay represented Core5 in the lease transaction and represent Core5 on the entire development.

Brad Kornegay

 CONTACTS:

RITA SKAGGS

RED DART Real Estate Consulting

404.788.3231

rita@reddart.co

Lisa Ward

Core5 Industrial Partners

404-262-5430

lward@c5ip.com

 www.c5ip.com.

Wicker Park Connection, Luxury Rental Tower on Chicago’s Northwest Side, Surpasses 75 Percent-Leased Milestone

Wicker Park Connection Apartments skyline, Chicago, IL

CHICAGO, IL — Chicago-based Hubbard Street Group and co-developer Centrum Realty and Development  announced Wicker Park Connection, a 15-story, 146-unit rental community, is more than 75 percent leased just four months after welcoming first move-ins.

 Located at 1640 W. Division St., one block west of the Division Blue Line station, the property is being marketed for sale together with an adjacent 60-unit first phase that opened in 2016 and houses a small-format Target store in the ground-level retail space.

“Wicker Park Connection combines the best of both worlds – luxury amenities with neighborhood living – and the faster-than-anticipated pace of leasing underscores the success of that model, even in today’s competitive market,” said John McLinden, managing partner at Hubbard Street Group. 

John McLinden

“We see this not only with the high-end finishes in the units, which include custom, locally sourced elements that add to the authenticity of the design, but also the lower-level commercial space that has drawn interest from some strong brands including a small-format Target.”

Wicker Park Connection offers a mix of studio, one-, two- and three-bedroom units ranging in size from 463 square feet to 1,245 square feet, with rents starting at $1,650. 

Residences at the adjacent 60-unit first-phase building, Centrum Wicker Park, are nearly fully leased. Together, the buildings feature more than 20,000 square feet of lower-level retail space anchored by the Target store.

“Being local to Chicago, we have an intimate knowledge of the city and its neighborhoods, and in the case of Wicker Park, wanted the industries that were once a fixture in the area – for example, lumber and steel – to be integrated into our design in a meaningful way,” said Jaclyn Moser, partner of Harken Interiors.

Chris Sommers and Jaclyn Moser

Harken Interiors partner Chris Sommers added, “The end result strikes that balance between standing out and blending in. Residents won’t necessarily pick up on the historic undertones incorporated through elements like the lobby art – instead, they’re meant to be discovered organically, similar to how residents would explore the surrounding neighborhood.”

Running between the development’s first and second phases is a public walkway called The Connection that, when completed, will link Milwaukee Avenue and Division Street. 

Aaron Galvin

Luxury Living Chicago Realty is serving as the exclusive marketing and leasing brokerage for the development.

“Leasing velocity has exceeded expectations with renters attracted to Wicker Park Connection not only because of the high level of finishes showcased in the apartments, but also the amenities, which are unprecedented in this area,” said Aaron Galvin, founder and CEO of Luxury Living Chicago Realty.

 “In the neighborhood rental market, it’s rare for a building to have a pool – let alone a rooftop pool with sweeping skyline views. It’s one of many differentiators that have contributed to the success of the development.”

For more information or to schedule a showing, call (312) 663-8390.

 CONTACTS:

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528