Florida East Coast Realty sells two commercial condo units in Coral Gables, FL for $2.57 Million or $681 per SF

 

Donna Abood

MIAMI, FL – Florida East Coast Realty (FECR), an integrated real estate development and management company with more than 60 million square feet of construction completed, has announced the sale of suites 102B and 103C at its 2020 Ponce office condo project, totaling 3,771 square feet.

 The two ground floor units sold for $2.57 million or $681 per square foot.

Joe Abood

The buyer, Coral Gables Smile, d.b.a. CG Smile Makeover, is a multidisciplinary dental practice, offering general and preventative dentistry, restorations, and endodontic and orthodontic care.

 

Peyton Dowd

“In today’s evolving market, we are seeing many business owners interested in owning their own space, seeking to take advantage of the investment opportunity,” said Austin Hollo, Chief Operating Officer at FECR. 

 “Commercial condos are very attractive to those with stable or growing businesses looking for a great location.”

 Austin Hollo

Donna Abood, Joe Abood, and Peyton Dowd from Avison Young brokered the deal.

 

“In the past eight months, we have experienced remarkable success in the Coral Gables market,” said Joe Abood. “The city has strong appeal as an attractive alternative to markets such as Blue Lagoon, Downtown Miami, or Brickell.”

About Florida East Coast Realty:

Tibor Hollo

Founded over 60 years ago by Tibor Hollo, Florida East Coast Realty (FECR) has built more than 60 million square feet of construction, consisting of landmark residential and commercial high-rises, single-family homes, government buildings, marinas, high-end retail centers, warehouse complexes, and telecommunications centers.

 

 

Media Contact for FECR:

 

Don Silver / Max Brodsky

 BoardroomPR

 954.370.8999

 donsil@boardroompr.com /

 mbrodsky@boardroompr.com

 

CBRE Appoints Erin Laney Barr as Salt Lake City Market Leader

Erin Laney Barr

 

 Salt Lake City, UT –– CBRE announced  it has appointed Erin Laney Barr Managing Director and Market Leader for its Salt Lake City business, effective July 10.

 

Laney Barr joined CBRE in January 2022 as a Transaction Manager and has facilitated deals for various national and global occupier clients, including charitable organizations and companies in the social, utilities, energy and retail sectors.

 

 Her diverse professional background includes time in real estate law, economic development and real estate development.

 

In 2013, Ms. Laney Barr transitioned from law to a role with the Economic Development Corporation of Utah, where she ultimately served as Vice President of Business Development..

 

“We’re pleased to announce Erin’s promotion to market leader. Her reputation and long-held relationships throughout the community and industry will serve us and our clients well,” said Paul Komadina, Senior Managing Director for CBRE in Phoenix.

 

Paul Komadina

 “Erin has a bold vision for where our business can go, and I’m excited to see her collaborate with our Salt Lake City professionals to make that vision come to fruition.”

 

Laney Barr holds a bachelor’s degree in economics from the University of Utah and a Juris Doctorate from Thomas Jefferson School of Law.

 

She currently serves on the board of directors for The Salt Lake Tribune. In addition, Erin participated in Harvard Business School’s Young American Leaders Program in 2019, and she was recognized as one of Utah Business Magazine’s “40 Under 40” in 2018.

 

CONTACT:

Justin Luera
Senior Corporate Communications Specialist
CBRE | Corporate Communications
T +1 248 936 6896 | C +1 915 383 6064
justin.luera@cbre.com | www.cbre.com

 

 

JLL Capital Markets closes sale of the 140,218-square-foot Independence Square retail center in Plano, TX

 

Erin Lazarus

 DALLAS, TX – JLL Capital Markets has closed the sale of Independence Square, a 140,218-square-foot, grocery-anchored retail center located in the Dallas suburb of Plano, Texas. The price was not disclosed.

 

JLL represented the seller. Head Capital Partners acquired the asset.

 Built in 1977 and renovated in 2005, the 94-percent-leased center is grocery-anchored by a high-performing Tom Thumb that comprises 31% of the total rentable area and has operated as the anchor for 45 years.

Chris Gerard 

The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown, Director Erin Lazarus and Associate Ben Esterer.

 Tom Thumb’s parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores total and 65 stores in Texas.. The property receives approximately 850,000 visits every year.

Barry Brown

Located at 3100 Independence Pkwy., Independence Square sits at a high traffic intersection within a dense neighborhood population.

 

The property caters to over 127,000 residents within three miles with an average household income of over $130,000, which is 20% above the Dallas-Fort Worth average. 

The center is also adjacent to heavy daytime traffic generators, including Plano High School to the south and four surrounding elementary schools in every direction. 

Ben Esterer

Additionally, it is just 35 minutes from Downtown Dallas and 15 minutes from the Legacy office submarket.

CONTACT:

 Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com    

Ware Malcomb Promotes Jonathan Thomas to Principal in Seattle, WA Office

 

Jonathan Thomas

SEATTLE, WA – Ware Malcomb, an award-winning international design firm, announced Jonathan Thomas, AIA has been promoted to Principal in the firm’s Seattle office.

 “Jonathan has been instrumental in growing our practice in Seattle and has demonstrated exceptional talent and leadership,” said Tom Jansen, Northwest Regional Principal for Ware Malcomb. “We congratulate him on this well-deserved promotion.” 

 Thomas joined Ware Malcomb in 2010 in the firm’s Denver office before moving to the Irvine headquarters in 2011 as a Project Designer.

 

Tom Jansen

In 2015, he was promoted to Studio Manager and relocated to Seattle to help spearhead the new office in the region. This new role will mark his fourth promotion since his move to the Seattle region.

A licensed architect in the state of Washington, Thomas is a multi-faceted professional. His experience encompasses all aspects of architecture including self-storage, corporate office buildings, tech, industrial, medical facilities, cold and food, multifamily and retail.

Thomas graduated from North Dakota State University with a Master of Architecture degree and a Bachelor of Science degree in Environmental Design. He is a member of The American Institute of Architects (AIA) and the National Council of Architectural Registration Boards (NCARB).

 Thomas also is an active NAIOP Washington chapter member and a graduate of the NAIOP Young Professionals Group program. He is also an active member of Self-Storage Association (SSA).

 CONTACTS:

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers,

Director

 PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com

 

Island Hospitality Opens Three WaterWalk Properties

 

Gregg Forde

 WEST PALM BEACH, FL, June 12, 2023 - Officials of Island Hospitality Management, a leading third-party management company specializing in select-service and upscale extended-stay hotels, announced the opening of three, new properties: the 126-room WaterWalk Phoenix North Happy Valley, 126-room WaterWalk Atlanta Perimeter Center and 126-room WaterWalk Boise Meridian.

126-room WaterWalk Phoenix North Happy Valley

The properties epitomize the brand's commitment to providing flexible accommodations, practical amenities and modern living spaces.

 

Guests can enjoy spacious furnished and unfurnished suites featuring fully equipped kitchens and convenient in-room washer and dryer facilities.

126-room WaterWalk Boise Meridian

With their prime locations in vibrant and growing cities, the WaterWalks cater to the needs of both business and leisure travelers, offering sensible solutions for guests. 

Together, the three properties boast a total of 380 suites, bolstering Island's presence in new urban markets while attracting a mix of special events, corporate bookings and group business.

 

"We have eagerly anticipated the launch of these exceptional hotels in thriving markets," remarked Gregg Forde, president and chief operating officer of Island Hospitality Management.

126-room WaterWalk Atlanta Perimeter Center 

"Drawing on our internal expertise, we have assembled an exceptional team of leaders and forged valuable business connections through our trusted network and corporate partnerships, ensuring a swift and successful ramp-up for these properties."

 

Island Hospitality Management has experienced a productive first half of the year and anticipates maintaining its momentum as it ventures into the remainder of 2023. 

 

 CONTACT:

 

Chris Daly (Media)

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.islandhospitality.com.

 

NewMark Merrill Companies Hires 30-Year Commercial Real Estate Veteran Lance W. Taylor As Vice President of Acquisitions & Development for Mountain States Division

 

Lance W. Taylor

 Westminster, CO, June 12, 2023 – NewMark Merrill Companies, Inc., a Calabasas, California-based retail shopping center owner and development company, is pleased to announce it has hired 30-year commercial real estate veteran Lance W. Taylor as Vice President of Acquisitions and Development for the firm’s Mountain States Division. 

 

Taylor will be tasked with sourcing and overseeing acquisitions of properties and identifying & managing new development projects in the Mountain States region. NewMark Merrill Mountain States currently owns and operates 10 retail centers encompassing 1,500,000 square feet in Colorado. 

Sandy Sigal

Taylor joins NewMark Merrill with an impressive track record in acquisitions and development. Most recently he served as Principal of Real Estate Investments and Development for SL Taylor Investments LLC.

 

Previously, he served as a Director at EB Arrow where he spearheaded the $70 million renovation of the Burbank Town Center, which included pursuing California Environmental Quality Act (CEQA) approval to convert a vacant IKEA to 1,100 new residential units.

Burbank Town Center, Burbank, CA

He has also held senior level roles with Deutsche Bank Asset & Wealth Management, Jones Lang LaSalle, Stream Realty Partners, and Goldman Sachs.

 

"Lance is a great addition to our Mountain States Division as we look to expand our presence in the region," stated Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies.

 

 "His track record, experience, and knowledge are an exceptional fit as we continue to grow in this evolving industry. Additionally, he will mesh well culturally with our team.”

 

Lance has relocated and will be officing out of the NewMark Merrill Mountain States office in Westminster, Colorado.

  

Lance earned a bachelor’s degree in marketing from the University of Texas. He is a member of ICSC and is a Certified Commercial Investment Member (CCIM).

 

 

 CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

JLL Capital Markets arranges sale of the 117-unit / 347-bed Vue on MacGregor student housing community near University of Houston in downtown Houston, TX

 

Teddy Leatherman

 DALLAS, TX – JLL Capital Markets has closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston, the third largest university in Texas. The price was not disclosed.

 

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Danielle Rice

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.

 

“We are excited to expand our student housing portfolio in Houston, which is now a member of a power five conference starting this year,” said Jonathan Shechtman, Managing Principal at Axonic Properties.

Scott Clifton

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet.

 

The units include in-unit washers and dryers, stainless steel appliances and granite countertops.

 

Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of Downtown from an upper view deck.

 

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from downtown Houston, which features 52 million square feet of office space.

Kevin Kazlow 

The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to Downtown.

 

Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

Jonathan Shechtman

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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

 

 

CONTACT:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com