Hold-Thyssen Closes $2.8 Million Sale of Site for Development of Two Fast-Food Restaurants on U.S. 192 in Kissimmee, FL

 Martin Forster

  KISSIMMEE, FL  --- The sale of one of the few remaining significant sites available on U.S. Highway 192 between I-4 and Highway 535 was recently closed. 

 

The owner, who acquired the property in 2006 as a site for a bank, decided to sell and listed it with Hold-Thyssen, Inc., a full service commercial real estate firm based in Winter Park.

 

Hold-Thyssen Broker Associate Martin Forster, CCIM, who facilitated the sale on behalf of Properties of Osceola, LLC, the Winter Park-based seller, said the property attracted several competing offers but was finally sold for $2,800,000 to Orlando-based Polynesian Isle Properties, Inc., a holding company for an experienced developer.

The former Anti-Gravity Theater
 where acrobats trained and shows
were performed at 5390 US192
 in Kissimmee, FL

The 2.80-acre site at 5390 US Highway 192 in Kissimmee, includes 2.44 net usable acres and a 0.36-acre retention area. It is the last remaining vacant site in the Kyng’s Heath V PUD, situated between Cracker Barrel and Uno’s. 

 

Forster said the buyer’s preliminary plans call for demolition of the former Anti-Gravity Theater where acrobats trained and shows were performed, and the construction of two fast-food restaurants.

U.S. Highway 192, Kissimmee, FL

“We expect these developments to be very successful as they will complete the buildout of the Kyng’s Heath V PUD between Elise Drive and Scott Boulevard and will complement the eight other businesses located there, which are expected to attract at least one million visitors per year,” Forster said.

 

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide. 

 

The 40-year-old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

 

 

Contacts

           

Martin Forster, CCIM, Broker-Associate Hold-Thyssen Inc., 

321-299-4164,

 mforster@HoldThyssen.com 

 

Robert P. Hold, Principal, Hold-Thyssen, Inc.,

 407-691-0505,

 bhold@HoldThyssen.com

 

Beth Payan, Larry Vershel Communications Inc.

407-644-4142

 Beth@larryvershel.com.

 

Park Avenue in Winter Park, FL Has a "Sweet" New Shop

Edwin and Katherine Jablonskas 

 

 WINTER PARK, FL – A new jewel has taken its place in the crown that is Winter Park’s Park Avenue. But what you will find at 552 S. Park Ave. isn’t a posh clothing boutique or an upscale jeweler. AJ Chocolate House is much, much richer than that.

In more than 2,200 square feet at the corner of Park Avenue and Fairbanks, Lithuanian owners Edwin and Katherine Jablonskas offer every kind of Belgian chocolate imaginable from dreamy chocolate and raspberry truffles to velvety chocolate European cheese cups and decadent cakes and desserts to smooth solid chocolate bars wrapped in edible gold. 

Algimantas “A.J.” Jablonskas 

To complement the more than 150 varieties of delectable confections priced at $2.50 each, the shop also offers fine European wines, hot chocolate, and Italian coffee.

“A family in Italy roasts this coffee specifically for us,” Jablonskas explained “ and you can ask to have our coffee prepared any way you want it: regular, latte or cappuccino and you will see its perfection served in a real cup and saucer.”

 AJ Chocolate House interior

The first of its kind in the U.S., AJ Chocolate House opened in Winter Park August 3 to crowds every weekend. Initially with a staff of 15, the steady stream of patrons led them to hire four more in mid-September. 

“The only advertising we did was just to be here and we have been completely packed every weekend,” said Edwin Jablonskas.  

The company began in 2002 in Lithuania. Edwin and his father – Algimantas “A.J.” Jablonskas –opened the first AJ Chocolate Houses in Vilnius, Lithuania. 

Since the flagship location opened in Lithuania’s capitol, 25 other AJ Chocolate Houses have opened across Lithuania and Latvia, and one is opening in Norway in October.

Jablonskas said his goal is to open a second and third location in Florida, with one large enough – perhaps 5,000 square feet – to also include a chocolate museum and enough space for the make-your-own-chocolate parties that are popular in Europe.  

With pleasing music, cozy chairs and couches with soft pillows, AJ Chocolate House offers a peaceful place to come for coffee and a chocolate or a Brussels waffle with chocolate sauce to boost your metabolism before starting the day, or a relaxing dessert and wine stop after dining at one of Park Avenue’s eateries.

 Some conduct business meetings in the soothing atmosphere, while others bring a date for fun chocolate fondue.

Patrons can peruse what seems like miles of custom-made European mahogany cabinetry that offers sparkling climate-controlled glass cases brimming with endless displays of chocolates. Shelves on one wall show off their selection of chocolate gifts, which AJ Chocolate House is known for internationally. 

A large part of AJ Chocolate House’s business is corporate gifts, which can have company logos placed on boxes and or the individual chocolates.  

 “We have been doing this in Europe for years, but it’s just beginning in the U.S.,” Jablonskas said.

Lithuanian Parliament building

“The Lithuanian Parliament alone orders 50,000 boxes of our chocolates and they go to all heads of state and delegations around the world.” Special orders usually take six to eight weeks.

Throughout Europe AJ Chocolates can be found in restaurants and hotel gift shops, and some hotels put the chocolates on guests’ pillows, he said.

The Winter Park location was abandoned for several years, having been home to a jeweler and later a coffee shop for a few weeks. When he found the space it was quite bare. Jablonskas said he invested more than he expected to achieve its elegant look today.”

Markus Lorscher

Markus Lorscher, general manager of the Peruvian restaurant a few doors down, “Mares Real Peruvian Cuisine,” agrees, “The new chocolate house is the cherry on top of Park Avenue.”

"When someone needs a gift they always think chocolate because, when you give a box of chocolates, they are happy to get it and they remember who gave it to them.”  

AJ Chocolate House is open from 8 a.m. to 9 p.m. Sunday through Wednesday, and 8 a.m. to 11 p.m. Thursday through Saturday. For more information, please  visit https://.AJChocolate.com.

 

 

CONTACT:

 

Beth Payan

Larry Vershel Communications, Inc.

2433 Lee Road

Winter Park, FL 32789

407-461-3781

Repricing in the real estate capital markets expected by next year, RECI predicts

 

John Oharenko

Chicago, IL – The Real Estate Capital Institute® reports rates in the real  estate capital markets remain at the peak levels of recent history.  

 

Investors on all sides of the real estate capital stack continue to look to policymakers for interest rate guidance, as the Fed kept rates unchanged in September. 

  While few experts expect dramatic changes in mortgage market conditions soon, many are still baffled by current investment conditions that defy conventional wisdom, including the following: 

 

Robust Housing Market:  Interest rates for homebuyers have more than doubled since the beginning of 2022, starting in the higher-six-percent range.  Yet housing prices hardly reflect any distress, as a shortage of for-sale dwellings plagues numerous markets.  Under such conditions, more buyers are squeezed out of the affordable housing market, forced to stay as long-term renters vs. homeowners.  As a result, multifamily properties continue enjoying healthy single-digit rent growth.

 New Construction Dilemma:  High construction costs and expensive financing force developers to continuously reprice deals.  During high-interest rate cycles, land values are one of the most impacted components of new construction ventures.  Few landowners holding desirable parcels will drop prices even as soft and hard costs rise.  In some cases, land costs approach as much as half the total project costs, far out of line with the more typical 15%-to-20% ratio that many developers consider more "normal."

 Negative Leverage:  Among the more controversial funding strategies in today's volatile market is negative leverage.  Yield spreads of as much as 500 basis points between debt costs and equity returns indicate that some investors believe rent growth, blended with dropping interest rates, will justify such funding strategies over the projected holding periods.

Inverted Yield Curve:  Over the past two years, the inverted yield curve confused pricing over benchmark yields.  The 10-year treasury long serves as the investment denominator for determining risk and reward tolerance priced above this safe rate.  However, the five-year treasury now acts as the new benchmark.  As a result, many lenders favor shorter-term funding opportunities in contrast to longer-term permanent debt investments.

 

Director of the Real Estate Capital Institute®, John Oharenko, believes "The real estate capital markets, in many ways, seem to be functioning upside-down.  Repricing is the real answer.  This phenomenon is expected to occur next year when more properties are refinanced or sold based on trades reflecting true debt costs. 

 

 The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries and bank prime.  

 

^The   Real Estate Capital Institute^®

Chicago, Illinois USA 60622

 

CONTACT:

 

John Oharenko, Executive Director

director@reci.com / www.reci.com

JLL Capital Markets leads $23 million sales efforts for on-campus Ironwood Medical Pavilion II in Queen Creek, AZ

 

Mindy Berman 

PHOENIX, AZ, Oct. 2, 2023 –  JLL Capital Markets, Medical Properties Group, announced today that it arranged the $23.3 million sale of Ironwood Medical Pavilion II, an on campus 61,302 square foot medical office building in Queen Creek, Arizona, within Phoenix’s Southeast Valley.

Evan Kovac,

JLL worked on behalf of the seller, a joint venture between Plaza Companies and Ryan Companies US, Inc., and procured the buyer, Hammes Partners.

 

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Evan Kovac, John Chun, Mindy Berman and Director Matt Dicesare, of the Medical Properties Group, and locally by Senior Managing Director Ben Geelan and Senior Director Will Mast.

 

Delivered in 2019, Ironwood Medical Pavilion II is 99% leased to a variety of highly specialized medical practitioners and anchored by Banner Health, Arizona’s largest health system and the largest employer in the state of Arizona.

 

The property is located on the campus of Banner Ironwood Medical Center. Queen Creek is a rapidly growing suburb of Phoenix that has seen a substantial influx of new residents, resulting in a population forecasted to grow 76% over the next 10 years.

John Chun

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.

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

For more news, videos and research resources, please visit JLL’s newsroom.

 

About Ryan Companies

 

Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager with a focus on creating places for people to thrive.

Matt Dicesare

Ryan work spans a wide range of sectors and product types including healthcare, hospitality, industrial, mixed-use, multifamily, office, retail, and senior living.

 

Built on the foundation of integrity, honesty and community, Ryan has grown to more than 1,800 team members in 17 offices and has completed projects in nearly every state.

 

About Plaza Companies

Plaza Companies, based in Peoria, Arizona, is an esteemed leader in the developing and managing of medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities. 

Ben Geelan 

Since its founding in 1982, this full-service, specialized real estate firm has established a proud portfolio stretching across the greater Phoenix area of more than 14 million square feet in properties developed, leased or managed and valued at more than $1 billion. 

 

 

About JLL 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. 

Will Mast

A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. 

Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit 

 

 

 

 

CONTACT:

Alli Semans

PR, Hotels & Hospitality, 

Capital Markets

JLL
M +1 330 329 6750

 

ryancompanies.com. 

jll.com.

ThePlazaCo.com

 

KW PROPERTY MANAGEMENT & CONSULTING Announces Key Personnel Moves on Florida’s West Coast

 Sheila Diaz

 

 TAMPA, FL and NAPLES, FL – – KW PROPERTY MANAGEMENT & CONSULTING, a premier Florida-based association management company, continues to expand its team of talented professionals on Florida’s West Coast.

 

In Tampa, Erin Fabian and Kirstin Stapleton joined KWPMC as Regional Vice President and District Manager, respectively.

 

In Naples, Sheila Diaz was promoted from District Manager to Regional Vice President. 

 

Fabian brings more than two decades of hospitality and property management experience. Previously based in Miami, she started out by working at luxury hotels while earning her Master of Business Administration (MBA) from Keller Graduate School of Management.

 

Erin Fabian

Fabian then pivoted to property management, overseeing luxury high-rise residential buildings throughout South Florida before relocating to the Tampa area several years ago. 

 

At KWPMC, Fabian will apply her expertise in high-end residential properties for the benefit of the company’s West Coast clients. 

 

Stapleton started her career in association management with Centex Homes and went on to serve in various property management roles spanning multifamily, single-family residential and construction.

 

She was most recently Operations Director at Progress Homes, where she oversaw the Sarasota market. Stapleton is eager to get back to her association management roots and leverage her diverse experience, knowledge and skill set. 

Kirstin Stapleton

Diaz has more than 25 years of experience in asset management, real estate development, property management, accounting, due diligence and acquisitions.

 

Prior to her time at KWPMC, Diaz provided financial and operational management services for a Florida-based real estate development firm’s $2 billion portfolio and helped build its Oceana brand in the U.S.

 

 Earlier in her career, Diaz was a Senior Financial Analyst at Starwood Vacation Ownership, contributing to the development of the St. Regis Bal Harbour Resort. 

 

“Erin and Kirstin are tremendous additions to our Tampa team, while Sheila is a valuable existing member of our Naples team and deserving of her promotion,” said Zuly Maribona, Senior Vice President at KWPMC and leader of the company’s activities on Florida’s West Coast.

Zuly Maribona

“We continue to see incredible demand for our services throughout the entire region, so having talented team members like Erin, Kirstin and Sheila is as important as ever.” 

 CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

www.kwpmc.com.