Miami Beach Entrepreneur Marc Lawrence Injects New Life into Forlorn Anglers Hotel

Marc Lawrence

MIAMI BEACH, FL -- Introducing Marc Lawrence of LBL Development Group, the real estate developer who owns the Anglers Hotel in Miami Beach, FL.

Anglers Hotel, 660 Washington Avenue, South Miami Beach, FL

According to marketer Katherine Fleischman, "This serial entrepreneur turned passion into project, and although he has his Masters in Real Estate law, Lawrence landed in the hotel industry inadvertently. 

Fleischman says, The Anglers "all started when longtime Miami Beach resident  Lawrence was working at The Related Group. To relax he would jog along the neighborhood, and while the rest of the area was being developed, he noticed a worn-down, neglected Mediterranean Revival building." 

Eric Lawrence

The original Anglers began as a simple 49-room condo/hotel conversion, and ran into headwinds due to market conditions, which forced the developer to return deposits when buyers couldn’t obtain end-loans. 

Other issues ensued such as renegotiating a bank loan, buying out partners, operational issues, evicting a restaurant tenant for not paying rent, and a global recession. 

After seven years of ups and downs, KHP (and Kimpton hotels) entered as a partner to merge the existing hotel with a newly acquired property to build phase two, adding 85 new rooms, complete with a rooftop pool, underground parking, retail space, a new lounge (Minnow bar), new restaurant (Seawell Fish and oyster), and renovations of the existing property. 

Miami Beach Mayor Philip Levine, 2013--2017

Fleischman says, "The (Anglers) hotel is currently a shining star on Washington Avenue. While other developers are beginning construction today, there are around 1,000 new units being built on Washington avenue, and the Anglers is once again the trendsetter on the block, leading the way for a new and improved Washington Avenue." 

Before the transformation, LBL ran the existing hotel and became top on TripAdvisor three years in a row, with a successful neighborhood Restaurant 660, inviting lounge, an expansive boutique feel, large rooms, brunch, and outstanding hospitality.

"Moreover, Lawrence has been on a mission to refresh and relaunch the deteriorating area of Washington avenue."

 Currently, Lawrence sits on the Washington Ave BID (Business Improvement District (the BID) as secretary). Under former Miami Beach Mayor Philip Levine (2013--2017), the city recognized that Washington Avenue needed help, and Marc’s brother Eric was appointed to the Blue Ribbon panel to incentivize developers to invest in and improve Washington avenue. 

Fleishman says, "After Lawrence worked tirelessly to change zoning and planning laws, Washington is in the middle of a revitalization, and armed with a 10 million dollar General Obligation Bond GO BOND to spend on a master plan, clean up, additional security, creating artistic street interactions and hosting concerts in the area. 





"The transformation of the community and interaction has been a top priority forLawrence."

Fleishman adds, Lawrence "can speak from experience" on trending topics, such as:

-Lessons on trials and tribulations of an entrepreneur

-How to evaluate and refresh the right area and property, while always having to be in step with the market

-How to reinvent yourself in the real estate game

-How to raise capital using connections with banks, architects, lawyers, and other professionals

Lawrence says, “We want to bring fun, exciting properties to the market and have a positive impact on the neighborhoods we build in. The mission is to continue in hospitality, add value, and create exciting destinations.”

Washington Avenue today

The suite section of the hotel includes rooms that are larger than most on Miami Beach and can accommodate longer stays. The Anglers includes fitness classes on the roof in the mornings, two pool hotel within the 17 duplexes, offering larger, cozier rooms with outdoor space, plus a nook and a cranny bar — Seawall Fish and Oyster. 

Lawrence says, "The life of a developer is spontaneous to say the least— every day is totally different. 

Washington Avenue, South Miami Beach, FL, in the 1950s before restoration and rejuvenation period began in the mid-1980s

"It can range from walking a construction site, meeting with a design professional, or GM regarding a celebrity in-house, attending city commission meetings, visiting a warehouse storing FF&E, and partner meetings all in the same day."

Katherine Fleischman

Adds Fleischman,  "Lawrence is not afraid to get his hands dirty and do anything that is required, including punching units in the morning and checking people in at night." 

CONTACT:

Katherine Fleischman 

katherine@superconnectormedia.com

Casa Familia Makes History with Funding Approval for the First Residential Community in Miami-Dade County for Individuals with Intellectual and Developmental Disabilities (IDD)

Deborah Lawrence

MIAMI, FL– Casa Familia, a not-for-profit 501(c)(3) organization advocating for adults with IDD, was awarded capital funding, by a unanimous vote from the Florida Housing Finance Corporation Board, on May 10, 2019, for the first affordable housing community in Miami-Dade County for this underserved population

 This milestone award of $15 million in federal tax credits and $4 million grant, allows Casa Familia to begin planning and continue raising the necessary funds to ensure the development and sustainable operations of this groundbreaking community.

State Senator Anitere Flores

The Village of Casa Familia will be located in Kendall, near Indian Hammocks Park. The 50-unit complex will be a campus style, pedestrian-friendly community enriched with extensive amenities tailored to the unique needs of individuals with IDD, including those most vulnerable.

 This first-of-its-kind community will be a place where residents can receive the long-term support and accommodations they need to live independent and fulfilled lives.

Miami-Dade County Commissioner Javier Souto

“There has never been an affordable independent living community developed anywhere in South Florida for this underserved population," says  Deborah Lawrence, Vice President of Casa Familia.   

"Most adults with IDD continue to have unmet needs. They have limited choices, and without help, rarely participate in the community, due to a lack of access to transportation and other services.

State Representative Nick Duran

"For aging caregivers the demands of caring for loved ones is often overwhelming, and alternative solutions grow increasingly urgent. Casa Familia is proud to sponsor this first-of-its-kind community in Miami-Dade County and help address this national crisis."

Florida is taking the lead in creating these types of communities, as The Village of Casa Familia will be the sixth community funded in the past five years. Nearly 5% of Florida’s total population has an intellectual and/or developmental disability.

State Representative Daniel Perez

According to the State of the States, in Florida, 74% of individuals with IDD live with a family caregiver; a third of which live with a caregiver age 60 and older.

As this generation of caregivers continues to age, many of their adult children with IDD are at risk of homelessness.

Current residential options are either inappropriate or out of their economic reach, particularly in Miami-Dade County, where the average cost of a one-bedroom apartment  is $1,147, far above the economic capacity of the average adult with IDD, most of whom subsist on $771 in Supplemental Security Income.

Ron Book

Atlantic | Pacific Communities partnered with Casa Familia to develop, build, and manage the property in accordance with the not-for-profit’s vision. The design phase of the project began on June 1, 2019.

Eric Jawitz, a 31-year-old with IDD remarked, “I’m happy communities like this are being supported and built for people like me.

 I currently live at home with my parents and I would like to have my own apartment, like my sister does, somewhere in Miami, so I can be close to my job.

 I think a community would be a great place for me to live.  I could live near my friends, make new friends, and we could do activities together at the community center. That way, I wouldn’t be so lonely.”

Marie-Ilene Whitehurst 

The Casa Familia project is made possible thanks to the support of its generous partners including Atlantic | Pacific Communities, UM CARD, United Community Options, Miami-Dade County, Commissioner Javier Souto, State Representative Nick Duran, State Representative Danny Perez, State Senator Anitere Flores, and Ron Book & staff.

For more information about Casa Familia, please visit www.casafamiliainc.org and follow them on Facebook and Twitter.

If interested in supporting and contributing to the development of this community, please contact Marie-Ilene Whitehurst at mwhitehurst@casafamiliainc.org. 

Deborah Korge

For more information about A | P Companies and its array of real estate services including development, property management, affordable housing, and construction, visit www.apcompanies.com

Casa Familia’s Consulting Executive Director, Deborah Korge, has 25 years of nonprofit leadership and management experience including serving as Executive Director of Casa Valentina and of The Women’s Fund Miami-Dade.

 CONTACTS FOR A|P COMMUNITIES:  

Juliana Gutierrez | juliana@jwipr.com | 786.991.4259

Violeta Pereira |violeta@ jwipr.com | 786.371.3748

Stos Partners Pays $25 Million for Four Industrial Properties in Southern California

CJ Stos

SAN DIEGO, CA and TEMECULA, CA – Stos Partners, a privately held commercial real estate investment and management firm, has expanded its Southern California portfolio with the acquisition of four industrial properties encompassing 177,898 square feet. 

The firm acquired one property in Temecula, California and three in San Diego, California for a total consideration of $25 million.

“As one of the most active buyers of industrial product in the Southern California region, we understand the tremendous value creation that is possible in this product type,” says CJ Stos, Principal of Stos Partners. 

Louay Alsadek

“Each of the properties we acquired is situated in a prime location within their respective markets, and offers the ability to create long-term value through repositioning and strategic leasing. 

"Our ability to source these assets in the current market speaks to our firm’s rapid movement, our surety of close, and our strong track record and reputation.”

Cold Storage Facility, 9925 Airway Drive, San Diego, CA

Stos Partners' new acquisitions include:

Stos Acquires Industrial Refrigeration Facility and Expands Tenant to 100% Occupancy

Hunter Rowe

Stos Partners has also acquired a 53,601 square-foot industrial property in San Diego, California for $6.150 million. The property, a freestanding refrigeration facility, was occupied by two tenants – one of whom is the seller.

The property is located at 9925 Airway Drive in San Diego, California. Louay Alsadek and Hunter Rowe of CBRE represented Stos Partners as the buyer in the transaction. The seller was represented by Erik Parker, Joe Smith, and John C. Smith of CBRE.

Industrial Asset, 3670 Ruffin Road, San Diego, CA.

Stos Acquires Industrial Property in Kearny Mesa and Secures Long-Term Lease

Stos Partners also acquired a 21,200 square-foot industrial property in the Kearny Mesa submarket of San Diego, California for $4.65 million.

The property is located at 3670 Ruffin Road in San Diego, California.

Bryce Aberg

Bryce Aberg and Brant Aberg of Cushman & Wakefield represented Stos Partners as the buyer in the transaction. The seller, a private investor, was represented by Brent Bohlken, Paul Britvar and Justin Maiolo with Newmark Knight Frank.

Stos Acquires and Brings Temecula Facility to 100% Occupancy

Stos Partners has acquired a 65,315 square-foot industrial building in Temecula, California for $7.1 million. The seller, a publicly traded company, leased back approximately 50 percent of the building to continue its operations in the facility for the long term.

Bob Gunness

The property is located at 28410 Vincent Moraga Drive in Temecula, California.  Rob Gunness and Kevin Kelly of CBRE represented the seller in the transaction.

Stos Acquires Miramar Industrial Building Off-Market

Stos Partners has also acquired a 37,882 square-foot industrial property in Miramar, California in an off-market transaction for a total consideration of $6.305 million. 

Stos plans to reposition and improve the property with $500,000 in capital upgrades and expects to attract a full-building tenant quickly.

Kevin Kelly

Glenn Arnold and Jeffrey Sallen of Cushman & Wakefield represented both Stos Partners and the seller in the off-market acquisition. The property is located at 9600 Kearny Villa Road in San Diego, California.

CONTACTS:

Micaela Fehrenbach / Jenn Quader

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

www.stospartners.com.

B+E sells Academy Sports property in Jackson, TN for $6.75 million using proprietary online 1031 exchange trading platform

Kane Morris-Webster

NEW YORK, July 1, 2019 – B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the Academy Sports + Outdoors property at 193 Stonebrook Place, Jackson, TN, for $6,750,000.

The buyer worked with a B+E broker to find the property using 1031Trade, B+E’s new proprietary online trading platform for 1031 exchange buyers.  The net lease retail property has 12 years of remaining lease term.  

Academy Sports + Outdoors, 193 Stonebrook Place, Jackson, TN

The buyer, Chimblo Family Real Estate LLC, was completing a 1031 exchange with a complex debt-equity requirement, making a thorough, national search for property imperative.

"B+E swept the US market, and we found a net lease property that matched our buyer’s specific criteria," said Kane Morris-Webster, CCIM, a B+E broker. “Using 1031 Trade, buyers can quickly review nearly every deal currently on and off the national net lease market and instantly place offers, which streamlines the search process and lets buyers efficiently review more properties.”

CONTACT:

Kane Morris-Webster, CCIM

kmw@benetlease.com 

www.benetlease.com.

HFF arranges $45.65 million financing for Talavera Apartments in Denver, CO

240-Unit Talavera Apartments, 350 South Jackson Street, Denver, CO

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged $45.65 million in financing for Talavera Apartments, a 240-unit, mid-rise multi-housing community located in Denver, Colorado.

Jim DiRienzio

HFF worked on behalf of the borrower, Denver-based Griffis Residential, to secure the 10-year, Fannie Mae Green Rewards loan through HFF’s risk-transfer joint venture with M&T Realty Capital Corporation.

The loan, which was used to fund the acquisition of the property, carries a 3.53% fixed interest rate with full-term interest-only payments.

Talavera Apartments is located at 350 South Jackson Street near Cherry Creek’s numerous high-end retail, dining and entertainment amenities. 

Eric Tupler

 Built in 2008, the property features a mix of studio, one-bedroom and two-bedroom units averaging 838 square feet.

Community amenities include a swimming pool and spa, covered parking, in-unit washers and dryers, stainless steel appliances and Amazon lockers. The property was more than 97% leased at closing.

“HFF has again proven to be a strong partner, working with Griffis Residential to secure financing for a high-quality asset in our latest real estate investment fund,” said Jim DiRienzo, senior vice president of acquisitions at Griffis Residential.

 “The apartment homes at Talavera, which has been renamed Griffis Cherry Creek, are primed for interior improvements and additional elements of our investment strategy, including enhanced resident experience, ancillary income initiatives, and management and service upgrades.”

Josh Simon

The HFF team representing the borrower was led by senior managing director Eric Tupler and managing director Josh Simon.

About Griffis Residential

With approximately $2 billion in multifamily assets, Griffis Residential is a vertically integrated multifamily real estate investment firm that owns and manages over 7,400 multifamily homes in thriving markets around the western U.S., including Denver, Austin, Seattle, Los Angeles and Las Vegas. 

 For more information, please visit https://griffisresidential.com/.

About M&T Realty Capital Corporation

M&T Realty Capital Corporation (www.mtrcc.com) is a wholly-owned commercial mortgage-banking subsidiary of Manufacturers and Traders Bank, better known as M&T Bank Corporation. 

Founded in 1856 in Buffalo, New York, M&T Bank Corporation (www.mtb.com) is a regional financial services company with more than $115 billion in assets. 

M&T is a community-focused bank that serves customers in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, DC through more than 750 branches, 1800 ATMs, and a variety of online and mobile services.

CONTACTS:

ERIC TUPLER

HFF Senior Managing Director

(303) 515-8000

etupler@hfflp.com

JOSH SIMON

HFF Managing Director

(303) 515-8000

jsimon@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

Marcus & Millichap Arranges $445,000 Sale of 8,050-SF Dollar General Site in Eden, NY

Dollar General, an 8,050-square foot
 net-leased property,
 8229 North Main Street, Eden, NY, 

EDEN, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General, an 8,050-square foot net-leased property in Eden, NY, according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $445,000.

Daniel Hurd

Daniel Hurd, senior investment advisor and Cole Skinner, investment advisor 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, was secured and represented by Michael Lombardi, Patrick Gray and Steven Schiavello, investment specialists in Marcus & Millichap’s New Jersey office Broker, Brian Hosey, assisted in closing this transaction.

“We are seeing most investors place an emphasis on long term security right now and with only a few years remaining on the Eden lease term, we had to be very particular about targeting a buyer for this deal," said Hurd.

Cole Skinner

 "Furthermore, Marcus & Millichap’s national platform allowed us to procure a local buyer who was not only comfortable with the shorter lease but also the location.

"We were under contract after only 10 days on market, navigated through a short due diligence period, ultimately closing the deal in approximately 60 days.

"The Seller was pleased to cash out, after owning this asset for many years, and intends to move on to higher yielding investment opportunities in the region,”

Grant Fitzgerald

Dollar General is located at 8229 North Main Street in Eden, NY.  The building consists of 8,050 square feet and has only been occupied by Dollar General since the commencement of the building.

 Dollar General has shown commitment to the location by exercising the option period with the scheduled increase in rent. 

Landlord responsibilities are limited to roof, structure and parking lot and tenant reimburses for Real Estate taxes, insurance and common area maintenance. 

Michael
Lombardi

           The store is positioned on US Route 62 which sees heavy traffic counts and the surrounding area has ideal demographics for Dollar General as the three-mile population exceeds 6,000 people and the one-mile median household income exceeds $71,000.

This location is also surrounded by multiple notable tenants including Tim Horton's, USPS, NAPA Auto Parts, Rite Aid and Dairy Queen.

CONTACTS:

Whitney Davis
Marketing Coordinator
Marcus & Millichap 201 North Franklin St. Suite 1100 Tampa, FL 33602 (813) 387-4700 main (813) 387-4743 direct (813) 387-4710 fax whitney.davis@marcusmillichap.com

www.MarcusMillichap.com.

HFF announces sale of Houston, TX retail strip center

Normandy Shopping Center, a 44,297--SF, 98% leased retail strip center in northeast Houston, TX

                                                                          Photo by Mabry Campbell

HOUSTON, TX –– HFF announces that it has closed the sale of Normandy Shopping Center, a 44,297-square-foot retail strip center that is 98.1% leased and shadow anchored by a Kroger store in the northeast part of Houston, Texas.

Ryan West

HFF marketed the property for the seller, Williamsburg Enterprises Limited.  A private investor purchased the asset. 

Situated on 6.07 acres at 12620 Woodforest Boulevard, Normandy Shopping Center is at the intersection of Woodforest Boulevard and Normandy, which sees a combined traffic count of nearly 40,000 vehicles a day. 

The center is one mile north of Interstate 10, one of Houston’s busiest freeways, and more than 106,000 residents live within a three-mile radius of the center, which represents an 11% growth since 2010. 

Shadow anchored by Kroger, Normandy Shopping Center is one of only two nationally recognized grocery-anchored centers in the immediate trade area. 

 The center is 98.1% leased to a diverse mix of internet-resistant tenants, including Zachry Construction, Texas Children’s Urgent Care, GNC, Pink Nails, Wing Stop, Rodeo Dental, Dominos and Woodforest National Bank.

John Indelli

HFF’s investment advisory team representing the seller was led by senior managing director Ryan West, director John Indelli and analyst Johnny Kight. 

“Houston retail properties continue to be highly sought after, as investors are taking note of the market’s strong retail fundamentals and attractive financing options,” Indelli said.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Williamsburg Enterprises Limited

Since 2009, Williamsburg Enterprises has invested in more than 100 unique opportunities across the United States.  Williamsburg is a fully integrated real estate investment firm specializing in acquisition, development, management and leasing. 

Johnny Kight

The company frequently invests along with its existing partners and with proven leaders who have demonstrated an ability to excel in their respective fields. 

While the majority of the company’s holdings are located in Texas, Williamsburg continuously evaluates opportunities in other states.  

CONTACTS:

RYAN WEST

TX Lic. #478560

HFF Senior Managing Director

(713) 852-3500

rwest@hfflp.com

JOHN INDELLI

TX Lic. #696391

HFF Director

(713) 852-3500

jindelli@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://williamsburgent.com.