Richmond, VA-area Valvoline retail store sold for $1.7 million

 

New Valvoline Express outlet, 2501 West Hundred Road, Chester, VA

Brad Peterson

WASHINGTON, DC,  Sept. 22, 2020 – JLL Capital Markets announced today that it has closed the $1.7 million sale of a newly constructed 1,668-square-foot retail property ground leased to Valvoline in the Richmond-area community of Chester, Virginia. 

 JLL marketed the properties on behalf of the seller, Tennessee-based GBT Realty Corporation. A private investor purchased the asset.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Brad Peterson, Director Michael Brewster and Senior Director Jordan Lex.

Michael Brewster

Valvoline (NYSE: VVV) is a leading, worldwide marketer and supplier of premium-branded lubricants and automotive services with sales in more than 140 countries.

 Additionally, the tenant is the second largest instant oil change chain by locations in the U.S. with more than 1,300 stores.

Constructed in 2020, the property is situated on 0.64 acres at 2501 West Hundred Rd., which is only 630 yards from Interstate 95, which has a traffic count of approximately 124,000 vehicles per day.

This location is the only Valvoline within five miles and the closet oil change location to I-95, which is a primary roadway into Richmond, which is 12.5 miles from the center, and into the rest of Virginia.

Lex Jordan

 “Instant oil changes fit well in today’s market, as customers opt for convenience and prefer to remain in their vehicles,” Brewster said.

 “This Valvoline proved to be an attractive offering due to the quality of the real estate and ideal tenant category.”

  For more news, videos and research resources on JLL, please visit our newsroom.

 Contact:

 Kimberly Steele

Senior Associate

 Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 

us.jll.com/capitalmarkets

 

 

Our Office: 407.963.7558 Info@LloydCA.com Property Flyer

FIRST TIME AVAILABLE FOR SALE DOWNTOWN ORLANDO, THORNTON PARK THE SANCTUARY 13,432 SQ FT. CLASS "A" OFFICE & EVENT SPACE

LCA is pleased to offer for sale the entire commercially-zoned, 2nd floor of Downtown Orlando's finest mixed-use, luxury high-rise: THE SANCTUARY 100 S. Eola Dr. Suite 200 Orlando, FL 32801 This offering consists of a Class "A", 13,432 SF condominium unit featuring highly functional office space & the well known and highly regarded private event & reception space "The MEZZ". Experience downtown convenience with a suburban feel, one block South of iconic Lake Eola, 3 blocks from the Downtown Orlando CBD and within 4 blocks of at least 32 dining/cafe/pub destinations. Located in the heart of Thornton Park, this listing offers on-site covered parking, a 24/7 security staff w/video monitoring, floor to ceiling windows along Church St., Pine St., and Eola Dr. With multiple demising options, several short term in-place tenants willing to commit long term, and the potential to keep the MEZZ event team in-place, this is an attractive opportunity for owner-users and investors alike First Time Offered for Sale Walk-ability Score of 91 - Walker's Paradise Plug & Play w/Furniture Available Fully Functioning Soundproofed Media Room LYMMO Stop w/Free Rides on 15 min Loop to CBD Dedicated 1st Floor Entry, Reception & Elevator "The Mezz" Business Available for Purchase Separately

Arbor Funds $14.2 Million Freddie Mac SBL Loans in Brooklyn, NY

 

Vincent Chiodo

   UNIONDALE, NY, Sept. 22, 2020 – 

Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded two Freddie Mac Small Balance Loans in Brooklyn, NY.

 The multifamily properties received $14.2M in refinancing, with a 10-year fixed rate through the program.

 Vincent Chiodo of Arbor’s New York City office originated the loans.

“These transactions exemplify Arbor’s commitment to meeting all of our clients’ needs no matter the environment or unique circumstances,” Chiodo said. “We were able to execute these transactions successfully despite all the changes and challenges that occurred due to COVID-19.”

 480 Stratford Road in Brooklyn received $5.2M in refinancing. The 15-unit mixed-use property was built in 2013 and is conveniently located with restaurants and retail shopping nearby.

480 Stratford Road, Brooklyn, NY

 1608 Beverley Road in Brooklyn received $3.4M in refinance funding. Built in 2014, the six-story, 12-unit property features hardwood floors and stainless steel appliances. The complex, just blocks away from Prospect Park, is near dining and shopping areas and less than 30 minutes from Manhattan.

 1608 Beverley Road, Brooklyn, NY

 596 East 19th Street in Brooklyn received $5.5M in refinancing. The 20-unit property was built in 2015 and features stainless steel appliances and large living areas. It is located in the historic district of Ditmas Park, with public transportation and retail shopping minutes away.

 Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Bridge Investment Group Surpasses 500,000 Square Feet of Office Leasing Activity Amid Pandemic

 Jeff Shaw

 ATLANTA, GA – Bridge Investment Group LLC’s (Bridge) subsidiary Bridge Office Fund Manager (Bridge Office) announced it has executed 61 lease agreements totaling 509,000 square feet across its national portfolio since the start of Q2, bucking conventional narratives on the U.S. office market while offering tangible evidence of success and opportunity for owners and investors in suburban areas that could be poised for an influx of new activity when the pandemic subsides.

Kevin Lott

 Notable transactions include a 78,627-square-foot extension at SkyBridge Towers in Bethesda, Maryland for a global nonprofit advancing military medicine; a 27,408-square-foot expansion/extension at Tower 1320 in Irving, Texas for an engineering company; and 15,235-square-foot expansion/extension at Denver West in Lakewood, Colorado for an technology firm specializing in alert systems for first responders.

“While the impact of COVID-19 has slowed new leasing tours by approximately 38%, our activity has not stalled and proposal activity remains steady, especially for renewal/extension proposals as companies prepare for evolving office needs,” said Kevin Lott, managing director of National Leasing at Bridge Commercial Real Estate (BCRE).

 “These results are a testament to not only the enduring quality of our properties in top suburban markets, but also our team’s ongoing dedication and creativity, including the recent launch of our digital portfolio and virtual tours to support leasing efforts.”

SkyBridge Towers, Bethesda, MD

Since April 1, BCRE has seen a 9% increase in total square footage for new prospect proposals, as well as a 3% increase in new expansion proposals and a rise of more than 11% in total square footage of renewal/extension proposals.

The data indicates COVID has impacted deal size more than the number of executed leases, as companies consider leasing more space to accommodate for employee comfort amid current social distancing guidelines.

Denver West Marriott Hotel, Lakewood, CO

 Bridge also reported rent collections for July averaged above 98%, with rent rates holding steady or slightly increasing in 15 of the 16 markets where the firm has a presence.

 “While the U.S. office market as a whole has certainly seen a slowdown, the data clearly shows that the stark collapse in leasing activity that has taken place in urban core areas does not hold true in many suburban markets that are much better positioned to endure and rebound from the pandemic,” said Jeff Shaw, CEO of BCRE.

 “With employees slowly returning to the office and several of our assets continuing to perform above pro forma rates across the country, we remain confident that the best attributes of suburban properties — spacious floor plans that enable social distancing, a sense of community, closer proximity to workers, and park-like settings — will be the driving force that draws people back.

Tower 1320, Irving, TX

 "These are areas that were already trending pre-pandemic due to the rise of amenity-rich environments with a renewed focus on walkability and experiences, and we anticipate that demand will gradually increase over the next year as the economy recovers and the impact of the virus subsides.”

For more information about BCRE including a complete list of office properties, please visit https://bridgecre-office.com/.

Contact:

 Nick Banaszak · Account Supervisor

1718 Peachtree St., Suite 1048 

Atlanta, GA 30309

M: 256-457-5384

www.thewilbertgroup.com

www.bridgeig.com.

www.bcre-atl.com.  

Rachael Lewis joins JLL Capital Markets Los Angeles debt and equity team

 

Rachael Lewis

LOS ANGELES, CA, Sept.  21 – JLL Capital Markets announced today that Rachael Lewis has joined the firm as a Director in its Los Angeles office, where she will be an integral part of the debt and equity placement team led by Senior Managing Director Bill Fishel. 

 Ms. Lewis has extensive experience sourcing funds from the debt and equity markets, with a historical focus on structured finance.

She joins JLL from a local capital advisory firm, where she was a Vice President responsible for arranging more than $2 billion worth of total project capitalizations.

 Prior to that, Rachael worked for a buyside advisory firm focused on net-leased properties, where she served as an Acquisitions Advisor, advising clients on more than $400 million of commercial acquisitions, namely in the retail and industrial sectors.

Bill Fishel

Rachael graduated with a bachelors’ degree in English from UCLA and sits on their Real Estate Alumni Group (REAG) Board. 

She is an active member of the Urban Land Institute (ULI), both on the Women’s Leadership Initiative and Young Leaders programs, as well as being a Forte Women’s Leadership Fellow.

She is involved with WLI’s GROW mentoring program and enjoys membership to several other professional and real estate-related organizations. Ms. Lewis is licensed to practice real estate in California and New York.

“We have made a habit over the years of asking the most active borrowers, lenders and investors for their feedback on the very best women and men they work with,” said Fishel.

“When Rachael’s name came up over and over again in those discussions, we knew that we would be very lucky to have her as a part of our team. Her reputation in the market and breadth of experience across asset classes are self-evident, and we are unbelievably excited to welcome Rachael to JLL.”

 For more news, videos and research resources on JLL, please visit our newsroom.

 CONTACT:

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Britney Spears Mansion in Beverly Hills on Market Again at Discounted Price

 

Britney Spears

 The Summit at BEVERLY HILLS, CA -- Baby One More Time when it comes to the former Britney Spears mansion in Beverly Hills to change hands. 

 

 It was the home she bought in 2007 in The Summit after her divorce from Kevin Federline, where she could find privacy in the gated-and-guarded community. 

Kevin Federline

 

 Britney sold it in 2012 at a $2 million loss.  Previously on the market in 2018 at $9 million, it is now listed considerably lower at $6.8 million.

 The Old World vibe of the Italianate villa-style home is still warm and inviting, and from the look of its upbeat modern interior, seems to have improved with a few years of maturity.

Gwen Stefani

 Built in 2001 and measuring in at almost 7,500 square feet, the rooms are large and airy and open to take advantage of the mild climate. 

 The interior opens into a grand foyer dressed in a huge chandelier with glimpses of the second floor that overlooks the entry. 

Ariana Grande

 

 A few steps inside reveal the wrought-iron banister leading up the stairs that continues across the second-floor opening that acts as a large catwalk, also with views over the formal living room with its impressive fireplace. 

 

Crisp, white and bright, with clerestory windows adding even more light, it is a perfect backdrop for art, special antiques and statement-making potted trees. 

 

Additionally there is the formal dining room, chef’s kitchen open to a large family room that opens to the pool deck and thick privacy hedges. 

Jennifer (J-Lo) Lopez

There is a cheerful breakfast nook with built-in seating that is surrounded by windows on three sides.  The six bedrooms and seven baths include a master suite with its own private balcony and fireplace, sumptuous bath and large paneled walk-in dressing room/closet. 

 

There is also an office, a media room and multiple entertaining venues both inside and out.

Britney Spears Mansion at The Summit in Beverly Hills, CA 

 

The Summit has been the choice neighborhood for elite entertainers who want a paparazzi-proof location where they can mingle with their peers and their children can play peacefully away from curious onlookers. 

 

It has been home to Gwen Stefani, J-Lo, Ariana Grande and Britney. The Biebers were recently seen house hunting there.

Justin Bieber

 

The Beverly Hills mansion that Britney Spears purchased in 2007 after her divorce from Kevin Federline and lived in until 2012, is on the market. 

 

Priced at $6.8 million, Bravo’s Million Dollar Listing’s Matt and Josh Altman of Douglas Elliman Real Estate, Beverly Hills hold the listing.

 

CONTACT:

 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Photo credit of Mansion: Christopher Amitrano, courtesy of Douglas Elliman

Source: thealtmanbrothersteam.elliman.com

 

 

Marcus & Millichap Brokers $4 million Walgreens site sale in Orlando, FL

 

Karly Iacono

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Walgreens, a 16,472-square foot net-leased property located in Orlando, FL, according to James McGuckin, regional manager of the firm’s New Jersey office.

  The asset sold for $4,041,420. 

Ryan Nee

 Karly Iacono, First Vice President Investments in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

Ryan Nee

The buyer, a limited liability company, was also secured and represented by Iacono. Ryan Nee, Broker of Record in FL, assisted in closing this transaction.

 The deal was structured as a zero cashflow leasehold interest. Despite the complex deal structure, Iacono was able to achieve 100 percent of list price.

  “As high leverage becomes harder to come by in today’s debt markets, zero cashflow opportunities are seeing a resurgence in demand,” Iacono said.

  “Couple that with the focus on investment grade tenants under long term leases and these types of deals check a lot of boxes for investors.”

James (Jim) McGuckin

 Walgreens is located at 11018 International Drive in Orlando, FL. The subject property is located across from SeaWorld Orlando and its complementary parks Discovery Cove and Aquatica.

 Orlando calls itself the theme park capital of the world and reportedly draws in more than 75 million annual visitors. 

 CONTACT:

                                                       

James McGuckin

Regional Manager, New Jersey

(201) 742-6100

 New Jersey Broker of Record

Brian Hosey
 

www.MarcusMillichap.com.

t NAI Realvest | Charles Wayne Brokers Two New Leases at Granada Plaza in Ormond Beach, FL

Brian Adair

 Daytona Beach, FL – Brian Adair, Senior Vice President at NAI Realvest | Charles Wayne recently completed two new leases at Granada Plaza, 201 East Granada Blvd, Ormond Beach, representing the Landlord, Granada Plaza Group, LLC.

Masterson Hospitality, Inc. leased 2,430 square feet in suite 34.  They plan to open a new restaurant, The Crepevine, with an opening date in the first quarter 2021. 

 It will be the Crepevine’s second location, joining the original in Altamonte Springs. The tenant was represented by Jim Stevenson with Charles Rutenberg Realty Orlando.

Jim Stevensom

Salty Waves Salon plans to open a new hair salon in the Plaza.  They signed a lease for suite 15 with 1,200 square feet.  They are scheduled to open in December of this year.

“These two new leases show that retail is capable of being resilient, especially in a high-traffic center like Granada Plaza,” Adair said.

CONTACTS:

 Brian Adair, Senior Vice President, NAI Realvest | Charles Wayne, 386-238-3600, badair@realvest.com

 

Patrick Mahoney, President/CEO, NAI Realvest, 

407-875-9989, pmahoney@realvest.com

 

CONTACT:

Yelena Gurtovenko 

ygurtovenko@realvest.com

www.charleswayne.com

  www.NAIRealvest.com.