Tuesday, October 27, 2020

MetroWest Center Sold for $7.3 Million in Orlando, FL

 
 MetroWest Center, 882 South Kirkman Road, Orlando, FL

 ORLANDO, FL, Oct. 27, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of MetroWest Center, a 28,282-square foot office property at 882 South Kirkman Road in Orlando, FL, according to Justin W. West, regional manager of the firm’s Orlando office. The asset sold for $7,350,000.

                  Salim Valiani, an investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor.

 

 Salim Valiani

        “This property has been a pride of ownership for the Seller and hopes it will be cherished by the new owners the same way," says Valiani.

  "The property is well positioned with a long-term lease with the State of Florida’s Department of Children and Families as a majority tenant in the building. The Orlando market has seen tremendous growth in office rental properties.

 "The Buyer understands the opportunity and is looking to benefit from the continued market growth. We are here to continue to deliver results for our Buyers and Sellers, equally.”

 

Contact:

 

 Justin W. West

Vice President / Regional Manager

 Orlando, FL

(407) 557-3800

 

BLT Enterprises Expands Creative Office/Studio Portfolio to 300,000 SF with Acquisition of Jewelbox Multi-tenant Property in Santa Monica, CA

  

2256 Barry Avenue, a multitenant creative office property totaling
about16,050 square feet in West Los Angeles, CA

LOS ANGELES, Calif., (October 22, 2020) – BLT Enterprises, a multi-faceted real estate investment company based in Santa Monica, California, has acquired 2256 Barry Avenue, a multitenant creative office property totaling more than 16,050 square feet in West Los Angeles, California.

The asset is currently fully leased, but provides BLT with an opportunity to create further value through BLT’s proprietary asset management system, according to Bernard Huberman, the firm’s Founder and President.

Bernard Huberman

“The prime location of this asset is perfectly aligned with our business plan to acquire properties in coastal California submarkets near major transportation corridors,” says Huberman, who notes that the property offers immediate access to the 10 and 405 Freeways and walking distance to the Metro Expo Line, driving strong tenant appeal. “West LA remains the most in-demand submarket for office space in the region, continuing to post the lowest vacancies amidst ample deliveries.”

According to Huberman, demand for creative space in the Los Angeles market is driven by a diverse range of companies, primarily in the tech, media, and entertainment industries. While demand has softened due to COVID-19, BLT believes in the resiliency of the Los Angeles Market.

“Over the past few years, we’ve strategically amassed a portfolio of several creative office, flex, and industrial properties in Los Angeles, with a large concentration in West LA and Hollywood,” explains Huberman. 

“Through close relationships with our tenants and brokers, as well as keeping our finger on the pulse of the market, we’ve cultivated a deep understanding of what today’s businesses are looking for in creative, creative industrial and production space. 

Television Center in Hollywood, CA

"This has allowed us to implement renovations and operations strategies that will position our properties for strong tenant demand over the long term.” 

To further take advantage of the cyclical tailwinds of the convergence of tech, streaming, media and entertainment, BLT launched a studio operations business, BLT Studios, approximately two years ago.

Huberman notes that BLT was attracted to the high quality of the asset, which features concrete floors, exposed ceilings, patios, abundant natural light, and secure parking, and requires only light renovations.

BLT’s current West LA and Hollywood holdings are now close to 300,000 square feet, with development opportunities for another 450,000 square feet, including Television Center in Hollywood, and the Hawke Media headquarters at 2231 S. Barrington Avenue, which is located within a quarter-mile of the new acquisition.

The property consists of two units, the first built in 2004 and the second in 2016. It was acquired for $9.29 million and is located at 2256 Barry Avenue in Los Angeles, California. The seller, who was not part of this release, was represented by Michael Preiss of rsfLA, Inc.

Contact:

Elisabeth Manville / Katie Haga

Brower Group

(949) 438-6262

emanville@brower-group.com



Monday, October 26, 2020

Believe It or Not, 'Haunted Houses' are Really on the Market

 

Sister agents Eileen Allan and Shannon Assad 
of Berkshire Hathaway, The Preferred Realty
 in Wexford, PA

 

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YouTube: https://www.youtube.com/watch?v=ov-ttRId_jU
Photo Credit: TopTenRealEstateDeals.com Archives
YouTube Credit:  Sean Evans, @evvo1991 backtothemovies.com/
Source:  TopTenRealEstateDeals.com  

 

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Suzanne St. John of Century 21 The Seyboth Team
 Glocester, Rhode Island.


POMPANO BEACH, FL -- TopTenRealEstateDeals.com writes that tales of grisly murders surround the old place and the hairs on the back of your neck stand up as the facade of the creepy old manse stares back at you.




To your surprise, you see a ‘For Sale’ sign swinging slowly in the wind, through bursts of lightning.

 

Do the walls of the master bedroom bleed at midnight, like you’ve heard?

 

 Or is it really just a classic Victorian, remodeled with contemporary fixtures and appliances and priced to sell? 




 Are those bumps in the night dead demons walking the halls or the bass from the newly installed full-house stereo system?

 Would you buy a haunted house? According to a survey by Realtor.com, 33% out of 1,000 people said they would!



TopTenRealEstateDeals.com has found 10 ghoulish houses with histories of past horrors for the curious or the brave where spirits might come out to play on Halloween night to send shivers up one’s spine. All 10 homes have been or are currently on the market.

 

Yikes! The Silence of the Lambs Home Is For Sale!





 The film that guaranteed a lifetime of nightmares about being skinned and trimmed to make a woman’s suit for Buffalo Bill in the Oscar-winning movie The Silence of the Lambs in 1991 had many tongue-swallowing scenes inside this Princess Anne home.  


Situated on almost two acres and measuring 2,400 square feet with four bedrooms and one bath, it has beautiful craftsmanship throughout the home. 




An in-ground pool and a vintage caboose used as a pool house are just a few of the happy reasons why the home is worth the $298,500 asking price.  Sister agents Eileen Allan and Shannon Assad of Berkshire Hathaway, The Preferred Realty in Wexford, Pennsylvania hold the listing.


Lizzie Borden's House For Sale!


It's not the same house where Lizzie Borden may have used an ax to whack her father and stepmother to death in 1892, but it is the Fall River, Massachusetts home where she moved after her parents' deaths, and stayed until her death in 1927.  




With wealth behind her as evidenced in the size and craftsmanship of this charming Queen Ann Victorian, it is where she lived in high style and mixed with local high society after being acquitted of the brutal ax murders of her father and stepmother.  




Measuring 3,935 square feet, it has seven bedrooms and four baths. The Lizzie Borden home is being sold fully furnished in period furniture appropriate to the time of Lizzie’s ownership.  Priced at $890,000, it is listed by Suzanne St. John of Century 21 The Seyboth Team, Glocester, Rhode Island.




L.A's Black Dahlia Murder House!


Tales of terror and tragedy rarely last as long as one of the most notorious Hollywood mysteries of the last century: 


The Black Dahlia Murders. Rumors still abound about the home’s previous owner, Los Angeles Doctor George Hodel, and his involvement in the brutal killing, mutilation and dismemberment of Elizabeth Short. 




Elizabeth was sliced in half at her waist and all the blood drained from her body. It looked like the work of a skilled surgeon.  The house, an unusual piece of architecture crafted by Lloyd Wright, looks like it is cut straight out of an Indiana Jones movie. 


Architect Frank Lloyd Wright

While a $2 million renovation has brought the house back to its original splendor, one can still feel that they should be running for their life through the house while being chased by Dr. Hodel. 


The house was recently on the market at $4.7 million and has been the backdrop for multiple Hollywood movies, TV shows such as Ghost Hunters and Paranormal America and even an American Express commercial.


Lizzie Borden

The Gardette-LePretre Haunted Mansion!


The Gardette-LePretre Mansion, or more locally referred as the Sultan’s House, has been photographed and heralded in articles from the time it was built in the 1830s. 


Having hosted the cream of New Orleans society from the beginning of its rich history, the home comes with a scary story!  One morning as neighbors were walking by the Sultan House, they saw blood trickling from under the front door. 


The police were notified and had to break into the house only to find that all inhabitants had been murdered with swords or axes and the Sultan was found brutalized and buried alive in the backyard.


George Hodel

 It was always felt that the murders were executed by his brother, the real Sultan, as retribution for the theft of his fortune and many of his wives. How much is local lore and how much is true, we will never know for sure. This is, after all, New Orleans.


  

Black Dahlia


 Only a block from Bourbon Street, the French Quarter-style home with nine bedrooms and 10 baths most recently was on the market at $2.65 million.


Colorado Ghost Town!


Tourists once flocked to Uptop, Colorado to ride on the railway, which the railroad company advertised as the "Railroad Above the Clouds." 


 Later, lumber companies moved in and in 1930 the Chapel-by-the-Wayside was built for that community.  


The railroad brought many tourists through La Veta Pass to Uptop which was a depot at the top of the pass and what was then the highest railroad and depot in the world. 


With the building of the depot, merchants moved to the location to cater to rail passengers and for entertainment, built a large dance hall-saloon. It was a favorite stop for miners, railroad men and lumberjacks. 


The bar, known for its unique curved bar, served prohibition liquor made in a still behind the building that fueled many a raucous poker game. 

Unfortunately for Uptop, the railroad left in the early 1900s and in the 1960s the new highway system bypassed the town leaving just a ghost town. 


 J.P. Morgan

Recently restored by two sisters from Boston, the entire town went on the market in 2014 for $2 million including the train depot, dance hall, saloon and chapel. 


The Arizona Boulder People!


During the construction of their new home next to a mysterious pile of ancient rocks in Arizona, a young couple from Washington discovered that they weren’t the first people to live in the boulders. 


Pottery shards and rock carvings were dated by experts back as far as one thousand years. Then they found something even more astonishing: a Stonehenge-type phenomenon that occurs on both the spring and fall equinoxes.


 A six-inch wide beam of light that starts in the glass between two boulders and slowly works its way across the floor and up the wall to a 36” spiral petroglyph. When the sun hits its mark, the stone projections light up like diamonds. 


 What does it mean? Some people think it is a signal to the space creatures. A light that will guide their spaceships to the Arizona desert. Or, maybe it doesn't mean anything. Just a freak of nature.



Peter A.B. Widener

 Whatever it might be, it started over a thousand years ago when the boulder people first began living there, about the same time that hard-shelled life forms first showed up on earth.


A dream home for archaeologists, historians, artists or mystery lovers, the Boulder House on nine acres with 4,380 square feet, three bedrooms, two baths and a great room with a massive fireplace was recently for sale at $4.2 million. It is now off the market.


Haunted Magnolia Mansion!


While most going businesses want to keep their ghosts in the closet so as not to frighten off clientele, the Magnolia Mansion has cleverly built its business around multiple ghosts and wish its ghosts would invite their friends! 


Here the ghosts are friendly with a sense of humor, where ghostly children tease you by moving things around during the night to watch your reaction the next morning. 


There are reports of a ghostly maid who will tuck you in at night, a child who walks the halls and a bearded man who spends his time downstairs!  A perfect place to hold your "Spooktacular Gatherings" and "Ghostly Galas!"


The Greek Revival mansion of over 13,300 square feet and 13 bedrooms could be changed back into a single-family estate. It was most recently for sale at $3.2 million.


Thousand Islands Haunted Mansion!


When it was built in 1895 for the president of Remington Arms and Typewriter Company, Carleton Manor was one of the grandest structures in all of New York. 


The solid stone outer structure sits on an island of 6.9 acres and surrounded by almost a thousand feet of waterfront. Today, it is an abandoned shell not fit for humans or ghosts. 


For a mere $495,000, the buyer willing to make this piece of history into a grand restoration project, can turn this house from a nightmare into a dream home.  


Then the spirits could come down from the ceiling and the chimneys for more cushy digs and have fun throwing the good china around after midnight.



Amityville Horror House



Amityville Horror House!


No longer on the market, the actual Amityville Horror home was for sale in 2016 reduced from $1.15 million down to $850,000. The New York home where Ronald DeFeo got up in the middle of the night in 1974 and brutally murdered his parents and four siblings with a rifle while they slept.


 The home was occupied just a year later by the Lutz family until they were forced to leave because of rampant paranormal activity.  The storied horror house on the Ocean Avenue waterfront is today an extensively remodeled home. 


The 5,000-square-foot home most recently sold in 2017 for just $605,000.


World's Biggest Ghost House!


Proof that wealth does not bring happiness is shown by the tragedies experienced by the A.B. Widener family who built the 110-room Lynnewood Hall in Pennsylvania. 


Said to be the largest remaining example of Neoclassical Revival architecture from the Gilded Age, its decline began with links to the sinking of the Titanic.


 When Widener invested with J.P. Morgan in the White Star Line, little did he know that his son and grandson would die on the maiden voyage of its flagship Titanic. 


Consumed with guilt and grief, A.B. Widener died in his grand mansion three years after the sinking. It is said that the three Widener ghosts are still its caretakers and its legacy continues to be the world's biggest abandoned ghost house.


Lynnewood Hall was listed at $20 million in 2014 and dropped to $16.5 million in 2015. It still has not sold.

 

Contact:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

Creative office building in Boston’s premier wellness hub trades for $72 million

 

Kerry Hawkins 

BOSTON, MA, Oct. 26, 2020 – JLL Capital Markets announced today that it has closed the $72 million sale of 20 Guest Street, a 228,912-square-foot creative office building located adjacent to the Boston Landing neighborhood in Boston, Massachusetts.

 Coleman Benedict 

 JLL represented the seller, NB Development Group, and procured the buyer, a partnership between Griffith Properties, LLC and Artemis Real Estate Partners.

 The JLL Capital Markets team representing the seller included Senior Managing Director Coleman Benedict and Senior Directors Kerry Hawkins and Ben Sayles.

20 Guest Street is located adjacent to Boston Landing, one of the city’s newest and most dynamic neighborhoods that is considered by many to also be Boston’s premier wellness hub.

Highlights of the neighborhood include the new Boston Bruins practice facility and Warrior Ice Arena, The Auerbach Center, the Boston Celtics practice facility and the soon-to-be home of The Track at New Balance, a world-class indoor hydraulic track, field and entertainment venue.

Marci Loeber 

20 Guest Street boasts a transit-oriented location adjacent to the Massachusetts Turnpike as well as the MBTA Boston Landing station providing convenient access to the affluent western suburbs as well as Fenway, Back Bay and Downtown.

Ben Sayles
Completed in 2000 and designed by ADD, Inc., the state-of-the-art creative office building features expansive views through its generous window line, column-free floorplates with exposed ceilings and flexible tenant areas.

 20 Guest Street is fully leased to seven tenants, including Harvard Business School of Publishing.

 “We are excited to welcome the Griffith Artemis team to the Boston Landing Guest Street neighborhood," said Jim Halliday, President of NB Development Group, LLC.

  "20 Guest Street had served as our New Balance World Headquarters since its development in 2000, until our move down the street to the new New Balance World Headquarters at 100 Guest Street, kicking off the Boston Landing development in 2015.


Jim Halliday


 "We look forward to working with the new ownership group for 20 Guest Street as stewards, along with the community, for the extended Boston Landing district.”

 

Added Managing Principal Marci Loeber of Griffith Properties: “Griffith Properties is excited to partner with Artemis Real Estate Partners on the acquisition of 20 Guest and to add this compelling Class A property to our portfolio, in one of the most exciting and emerging live/work/play environments in Boston.

 

 "NB Development led the transformation of the area with the new MBTA commuter rail stop, which is a game-changer and unlocked a multitude of possibilities in this walkable environment.”


 20 Guest Street, a 228,912-square-foot creative office building
 located adjacent to the Boston Landing neighborhood
in Boston, MA

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

 CONTACT:

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

jll.com. 

nbdevelopment.com.

www.artemisrep.com.

griffithproperties.com

Sunday, October 25, 2020

EverWest Expands Value-Add Strategy with $13 Million Miami Industrial Buy

 

Tyler Williams

HIALEAH, FL – With a just-closed, off-market buy in Hialeah, Florida, Denver-based EverWest Real Estate Investors has expanded its strategy of investing and improving assets in prime industrial locations. 

Its latest purchase is located at 1101 E. 33rd St., an infill location in the heart of Miami’s Hialeah industrial submarket.

EverWest purchased the 160,000-square-foot building for $13.1 million, or $82 per-square-foot.

“Hialeah is a centralized location, in close proximity to Miami International Airport, major thoroughfares and sought-after labor,” said EverWest Director of Southeast Acquisitions Tyler Williams.

 “The building is also fully occupied with a stable rent roll, making it the perfect candidate for long-term improvements – demonstrating EverWest’s continued ability to acquire and enhance well-located industrial product in a highly competitive landscape.”

Andrew Gurewitsch of Windsor Realty Partners represented the building seller, a partnership between two local investors.

The Hialeah building features 18’ to 22’ clear heights with functional dock-high loading, direct rail access, heavy power and a large lot for high-volume trailer storage.

Andrew Gurewitsch

The building is fully leased to two long-term tenants: IC Industries Inc., a leading South Florida corrugated box manufacturing and delivery service, and Schwarz Partners Packaging, part of an Indianapolis-based holding company with interests in corrugated paper and packaging, with a focus on the full-circle renewable process.

EverWest is an active investor and lender across the United States, spanning industrial, office, retail and multi-family product.

At the Hialeah property, the company plans to implement a capital improvement program while benefiting from the building’s stabilized tenancy in a submarket with strong rent growth.

The approach continues EverWest’s push to acquire and improve stable industrial assets in key U.S. growth markets – mirroring other stabilized and value-add projects secured by the company this year in the Seattle, Nashville and Denver metro markets, as well as a new acquisition in Southern California’s Inland Empire.

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado.

1101 East 33rd Street, an infill location in the heart
of Miami’s Hialeah industrial submarket.

 The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.

For more information on EverWest, please visit www.everwest.com.

For more information on GWL Realty Advisors, please visit www.gwlra.com.

Contact:

 Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com