Regal | Christie’s International Real Estate Reports Banner Year With $248 Million in Sales for 2019

  

The highest priced property sold was a home located on Via Lugano in Winter Park, FL that sold for $6.5 Million

ORLANDO, FL — Regal | Christie’s International Real Estate, specializing in luxury home sales, closed on 534 sales worth more than $248 Million in 2019.

Regal | Christie’s sales in the Dr. Phillips/Windermere area where transactions totaling more than $85 million took place last year accounted for the largest percentage of the firm’s 2019 volume.  

The highest priced property sold was a home located on Via Lugano in Winter Park that sold for $6.5 Million.

The firm plans to exceed more than $300 million in 2020 according to founder and owner Chris Christensen.

Chris Christensen

Christensen said he expects the firm to be very active in 2020, and with good reason. They already have an estimated $134 million in active/pending luxury properties.  “We think some of these exceptional residences will go relatively quick.”

With five Central Florida offices, Regal | Christie’s International Real Estate is the only Christie’s International affiliate in the region. 

The name has been instantly and internationally recognized as synonymous with quality and prestige and with a steadfast commitment to excellence.

CONTACTS:

Patrick Gould, Regional Sales Manager, Regal | Christie’s International Real Estate, 407-770-8470 (call/text) or Patrick@RegalRealtyOrlando.com

    

Chris Christensen, Broker/Owner, Regal | Christie’s International Real Estate, 407-312-8003 or Chris@RegalRealtyOrlando.com

Beth Payan, Larry Vershel Communications Inc.,

 407-644-4142, 407-461-3781 or beth@larryvershel.com  

Levin Johnston Completes $6 million Land Site Sale in Redwood City, CA

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Adam Levin

REDWOOD CITY, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, successfully completed the sale of an approximately one-acre land parcel in the Bay Area submarket of Redwood City, California for future residential development, according to Adam Levin, Executive Managing Director, and Robert Johnston, Senior Managing Director of Levin Johnston.

Levin Johnston represented the seller, Service Corporation International, as well as the buyer, a private investor, in the land sale. The transaction was a rare opportunity for the buyer to acquire a developable site in the heart of Silicon Valley, notes Johnston.

“We were able to strategically arrange a win-win transaction through identifying a buyer who has the expertise to deliver much-needed high-density housing to the market and securing a strong price for the seller,” says Johnston.

“In line with the area’s continuing economic development and employment growth, the buyer plans to develop 37 townhomes at the site.”

Levin notes that job growth in Redwood City is projected to be 37% over the next 10 years, significantly higher than the U.S. average of 33.5%.

Robert Johnston

“Redwood City is growing rapidly and the demand for quality, for-sale housing is at an all-time high and outpacing current supply,” explains Levin.

“The land parcel presents a prime opportunity for residential development, as it is located in close proximity to transportation hubs and major highways and situated in the city’s vibrant downtown area, which offers residents unique retail, entertainment, and dining options.”

The land is located at 847 Woodside Rd in Redwood City, California. The total consideration of the sale was $6 million.

This final sale of the year brought Levin Johnston’s 2019 transaction number to 72, with a total volume of more than $600 million, primarily in California’s Bay Area market.

“Our continued success in identifying prime opportunities to acquire and sell in the highly competitive Bay Area and beyond is a testament to our ability to understand our clients’ wealth management goals, as well as our deep relationships and comprehensive knowledge of the market,” confirms Levin.

  

For more information about Levin Johnston’s $100 million in available properties, please visit www.levinjohnston.com.

Contacts:

Alex Caswell / Elisabeth Manville 

Brower Group

(949) 438-6262

acaswell@brower-group.com

Plaza Advisors Announces Sale of Walden Woods Shopping Center in Plant City, FL

  

                            Walden Woods Shopping Center, Plant City, FL

Jim Michalak

 TAMPA, FL  --  Plaza Advisors is pleased to announce the sale of the Walden Woods Shopping Center located in Plant City, Florida.

The 73,250 square foot plaza is located at the retail epicenter and primary intersection of the Plant City retail trade area. 

Walmart, Publix, Lowes, Marshalls, Michaels, Ross, Winn Dixie, Five Below, Bealls and Ulta each have stores at the intersection.

Walden Woods shopping center major tenants are Dollar Tree, Aaron’s and Dollar General. The asset was fully occupied at the time of sale.

 The property’s inline tenant roster includes several national and regional recognized operators including: Anytime Fitness, T-Mobile, Hibbett Sport’s, Sports Clips, Beef O’Brady’s and Jimmy John’s.

Keith Nurre 

 The seller was Atlanta based RCG Ventures. The Buyer was New York based Redman Partners. 

 Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the sole brokers involved in the transaction.

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. 

Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, life insurance companies, REITs, and money center banks. 

CONTACT:

 Jim Michalak

Managing Partner

Plaza Advisors

 3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

jim.michalak@plazadvisors.com

www.plazadvisors.com

CBRE Global Investors Lands Trio of New Leases at Iconic 150 North Michigan Tower in Chicago, IL

Sara Spicklemire

CHICAGO, IL ---  CBRE Global Investors announced the signing of three lease agreements at 150 North Michigan, a Class A 41-story office tower known for its iconic diamond-shaped peak, sweeping views of Lake Michigan and Millennium Park, and proximity to leading entertainment and retail destinations.

 The German American Chamber of Commerce of the Midwest (GACC Midwest) will take a full floor at the building, while Insight Global Tech will occupy 11,469-square-feet on the 36th floor.

Kelsey Scheive 

Jackson Lewis, one of Chicagoland’s most prestigious law firms, also inked a long-term renewal for 29,793 square feet on the 24^th and 25^th floors. 

Representing 59,321 square feet of leasing activity, the latest leasing surge comes on the heels of a $7 million repositioning project at 150 North Michigan. 

Recent improvements to the 654,508-square-foot tower include a reimagined lobby with expanded gathering areas, communal seating, contemporary decor inspired by Millennium Park, abundant natural light and a revamped front entrance that engages the surrounding streetscape.

Seth Tuscher

Sara Spicklemire, Kelsey Scheive and Seth Tuscher of CBRE represented CBRE Global Investors in the leasing transactions.

“150 North Michigan enables companies to elevate their business through a dynamic package of incomparable amenities and Chicago’s premier location,” said Mark Zikakis, Principal and Head of U.S. Asset Management at CBRE Global Investors.

Mark Zikakis

“Our significant capital investment to attract and retain top professional talent is producing quantifiable results for tenants, while also sparking renewed interest for tech-equipped workspace in our tower.

"Leasing momentum remains robust as we start a new year, and we’re thrilled to welcome another group of distinguished brands to our growing workplace community.” 

Garin North

“We are entering a new era of the workplace, and A&B is an evolution of our commitment to keeping pace with the workplace trends that matter to today’s tenants,” said Garin North, National Director of the A&B program.

“These recent lease agreements speak to the success of differentiators such as A&B, and further emphasize the need for hospitality-infused workspaces that help tenants to achieve their bottom-line business goals.” 

150 North Michigan office tower, Chicago, IL

150 North Michigan is currently 87% leased, with more than 196,000 square feet in leasing activity occurring since CBRE Global Investors assumed ownership. 

Marquee tenants include Newcastle Limited (18,724 SF), National Public Radio (6,135 SF), C+R Research (17,274 SF) and Impact Networking (18,899 SF).

To learn more about floor plans and available units at 150 North Michigan, please click here. Photos of the property can be found here. For additional information on A&B, click here.

CONTACT:

Aliya Seymour
aseymour@thewilbertgroup.com

www.cbreglobalinvestors.com

NAIOP Florida Announces 2020 Leadership and Legislative Agenda

Darcie Lunsford 

 FORT LAUDERDALE, FL– NAIOP Florida, the state chapter of the Commercial Real Estate Development Association, announces that Butters Realty & Management Executive Vice President Darcie Lunsford will serve as its 2020 Board of Directors president.

During her tenure as South Florida president in 2019, Lunsford helped marshal support for several pieces of legislation on behalf of NAIOP including:

Brian DePotter

• ·         a rollback in the business rent tax from 5.7 percent to 5.5 percent;
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• ·         new permit transparency legislation that requires local governments publicly post permit and inspection fee costs and how that revenue is being applied within government functions;
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• ·         new legislation that prohibits a local government from collecting impact fees before issuance of a building permit except in the case of water and sewer connection; and
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• ·         the passage of several pro-development provisions in a major property development package including
• ---financial relief from governmental requirements that an affordable housing component be included within a new project;
• ---requirements for local jurisdictions to review and respond to development applications within 30 days;
• ---and approval for the prevailing party in a development order challenge to collect attorneys’ fees.

Fitch King 

• With more than 1,000 members, NAIOP Florida consists of five regional chapters throughout the state including South Florida, Central Florida, Tampa Bay, Northeast Florida and Northwest Florida.

In addition to Lunsford, NAIOP Florida 2020 board members include:

·         FirstPointe Advisors Managing Partner Brian DePotter of NAIOP South Florida;

·         Morgar Realty President Fitch King and Driver McAfee Hawthorne Diebenow Partner Trey Wilson of NAIOP Northeast Florida;

·         Central Florida Development President Jeff Lucas and Harrod Properties Partner Graham Mavar of NAIOP Tampa Bay;

·         Catalyst Healthcare Real Estate Vice President Brandon McFarren and SVN Southland Commercial Real Estate Advisor Chris Palmer of NAIOP Northwest Florida;

·         and Prologis Vice President Brendon Dedekind and Colliers International Executive Managing Director Joe Rossi of NAIOP Central Florida.

Jules R. Morgan

NAIOP South Florida Executive Director Jules R. Morgan will serve as executive director of NAIOP Florida.

“In Florida, the commercial real estate sector contributes more than $20 billion to the state economy, generates more than $6.8 billion in wages and salaries and supports more than 161,000 jobs,” Morgan said. 

“These are among the many reasons why NAIOP’s advocacy efforts are so important. Commercial real estate will continue to drive such economic prosperity and growth when we enact strategic reforms that ultimately loosen the chokehold on our industry.” 

For more information about NAIOP Florida and its legislative agenda, please visit https://www.naiop.org/florida.

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Contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

naiopsfl.org.

JLL arranges $870 million construction loan for South Station redevelopment in Boston, MA

Jennifer Keller

BOSTON, MA, January 24, 2020 – JLL Capital Markets announced today that it has arranged an $870 million construction loan for the first phase of the South Station redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower that will be built at Boston’s South Station transportation hub.

 The South Station redevelopment is a world-class, 1.9 million-square-foot mixed-use project that will transform Boston’s transportation hub and skyline. 

JLL worked on behalf of a joint venture between affiliates of Hines, APG Groep NV and Dune Real Estate Partners LP, to secure the loan with The Children’s Investment Fund.

Riaz Cassum 

Anticipated for delivery in 2024, the first phase of the project will offer approximately 660,000 rentable square feet of Class AA office and retail space as well as approximately 166 residential condominium units and more than 500 parking spaces. 

The faceted oval glass tower was designed by Pelli Clark Pelli Architects and will be constructed to align with the historic South Station façade and meet LEED^® Gold standards.

The office component will feature 26,000-square-foot, primarily column-free floor plates with 13’ floor-to-ceiling heights and unobstructed views of downtown Boston and Boston Harbor. 

South Station redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower that will be built at Boston’s South Station transportation hub.

 The residential component of the tower will offer studio, one-, two- and three-bedroom units along with penthouse duplex units. The residences will feature the finest finishes and will be accessed through a private lobby with doorman/door staff. 

The tower is positioned directly above South Station, Boston’s transportation hub, which serves more than 130,000 commuters daily and offers direct access to multiple modes of transportation like trains, buses and the subway. 

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Riaz Cassum and Senior Director Jennifer Keller.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. a licensed real estate broker.

About Dune Real Estate Partners LP:

Daniel M. Neidich 

Dune Real Estate Partners LP is a New York City-based real estate investment firm currently executing a strategy focused on distressed, deep value-add and contrarian investing, primarily in the United States.   

Dune manages the Dune Real Estate Funds, which were launched by Mr. Daniel M. Neidich in 2005 and have raised $3.6 billion of equity capital.

Contact: 

Kristen Murphy

JLL Senior Manager

 Public Relations 

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

 www.hines.com

jll.com

apg.nl/eng.