Marcus & Millichap Promotes Nine California Agents to Vice President Investments

   

Alex Kozakov  Patrick Wade Pasha Darvishian Sam Hanna

  

CALABASAS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted nine California agents to vice president investments.

This designation exemplifies superior performance achieved by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Kent R. Williams, senior vice president and managing director.

            The agents, their office locations and specialties are:

·         Alex Kozakov, Los Angeles, retail and net-leased (top  photo)

·         Patrick Wade, Los Angeles, retail and net-leased (top photo)

·         Pasha Darvishian, Newport Beach, office and industrial (top photo)

·         Sam Hanna, San Diego, office and industrial (top photo)

·         Tom McCartin, San Diego, multifamily (bottom photo)

·         Phil Sambazis, San Diego, retail and net-leased (bottom photo)

·         Clinton Textor, San Francisco, multifamily (bottom photo)

·         Christopher O. Hyldahl, West Los Angeles, seniors housing (bottom photo)

·         Priscilla Nee, West Los Angeles, multifamily (photo unavailable at this time)

                                Tom McCartin Phil Sambazis, Clinton Textor, Christopher Hyldahl

 Previously, Darvishian, Hanna, Sambazis, Textor, Hyldahl and Nee held the title associate vice president investments. Kozakov, Wade and McCartin were senior associates. 

 “With this promotion, these commercial real estate investment specialists have earned a prestigious designation within the firm and solidified their reputations as knowledgeable and successful investment professionals,” says Williams. “Their focus on providing superior client services has earned them a high degree of loyalty and respect from investors as well as from their peers.”

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

           

New Hyundai Dealership to Open in Lilburn, Ga.

  

 ATLANTA, GA – Bull Realty has brokered the lease of a 24,700-square-foot, 4.5-acre former Pontiac GMC dealership on Stone Mountain Highway in Lilburn, Ga. As a result, a new Hyundai dealership will open on the site in January 2013.

O’Brien Automotive Team, which owns 19 other dealerships across the country, leased the property from an affiliate of the Baranco Automotive Group.

Jared Daley (top right photo), vice president – corporate retail services for Bull Realty and an agent who specializes in the lease and sale of automotive-related properties, represented the landlord in the transaction. No other brokers were involved in the deal.

The property received a lot of interest from other car dealers, Daley reports.

“This area is coming back as a popular car sales market,” he said. “The former Chevrolet dealership across the street just opened as a new Toyota dealership.

“This new Hyundai dealership will have a modern look and feel to provide an inviting car-buying experience. We are excited about the potential of this dealership and the value it will bring to our client’s property.”

For a complete copy of the company’s news release, please contact:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Jared@BullRealty.com

Douglas A. Danny and Christopher J. Zorbas Promoted to First Vice Presidents Investments at Marcus & Millichap

SAN DIEGO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Douglas A. Danny (top right photo) and Christopher J.  Zorbas (middle left photo) to first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to John Vorsheck (lower right photo), regional manager of the San Diego office.

Most recently, Danny and Zorbas held the title of vice president investments. They are both located in the San Diego office.

Danny’s career with Marcus & Millichap began in November 1992 as a manufactured housing specialist. He was promoted to senior associate in June 1998 and vice president investments in January 2008.

Danny also holds the title of senior director of Marcus & Millichap’s National Manufactured Home Communities Group (NMHCG). Throughout his career Danny has received several internal sales awards, including seven coveted National Achievement Awards.

Zorbas began his career with the firm in May 2001 as a multifamily investment specialist. He was promoted to senior associate in June 2004 and vice president investments in January 2008.

Zorbas also holds the title of senior director of the firm’s National Multi Housing Group (NMHG). While with Marcus & Millichap, Zorbas has earned several internal sales awards including eight coveted National Achievement Awards.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Mark One Capital Arranges $7 Million Walgreens Loan in Aliso Viejo, CA

   

ALISO VIEJO, Calif., Aug. 16, 2012 – Mark One Capital, a subsidiary of Marcus & Millichap Capital Corporation (MMCC), has arranged $7.1 million in refinancing for a 13,386-square foot Walgreens drugstore built in 2009.

 Farhan Kabani (top right photo) a director in MMCC’s Dallas office, arranged the loan.

“This was a cash-out refinance, which is difficult to structure in many cases,” says Kabani. “We provided the clients with several debt options that allowed them to choose the loan that worked best and met their requirements.”

  

“Walgreens are attractive to lenders,” adds Kabani. “They are an investment-grade tenant, and the buildings that they occupy are typically multi-use space that can be converted easily.”

The loan was structured with a 10- year term and amortizes over 30 years with an interest rate of 4.5 percent. The LTV was 75 percent.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

New Penthouses at Canyon Ranch Living Miami Beach, FL Sell Out in Two Hours

  

MIAMI BEACH, FL– Canyon Ranch Living Miami Beach (top left photo) set a speed record for sales when it opened penthouse residences for sale this month. The eight luxury homes atop the upper and lower center tower went under contract in two hours, with total sales exceeding $7 million.

“Buyers were asking about the residences even before we offered them,” said Michael Sadov (lower right photo), Real Estate Sales Director at Canyon Ranch Living Miami Beach. “They placed their names on a waiting list. When we formally notified them, they quickly signed contracts, sometimes sight unseen.”

“One residence was so spectacular the price exceeded $1,000 per square foot,” Sadov explained.  “All of the buyers already owned homes at Canyon Ranch and were so enthused with the luxury lifestyle of healthy living that they couldn't wait to purchase again.”

Four of the one- and two-bedroom penthouses are directly on the ocean. Several have views that face south. Each of the finished residences has different layouts and kitchen designs.

For a complete copy of the company’s news release, please contact:

Estee Pinzon

Digital Media Specialist

Boardroom Communications

(954) 370-8999

(954) 370-8892 Fax

epinzon@boardroompr.com

Julie Talenfeld

Boardroom Communications,

954-370-8999

jtalenfeld@boardroompr.com

for Canyon Ranch Living Miami Beach.

  

Marcus & Millichap Sells two-tenant retail property in heart of Biscyane retail corridor in North Miami, FL

NORTH MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a two-tenant net-leased retail property located in North Miami, FL, according to Kirk A. Felici, First Vice President/Regional Manager of the firm’s Miami office.

The asset, which includes T-Mobile and Smoothie King as tenants, commanded a sales price of $3,250,000.

Drew A. Kristol (middle right photo) and Kirk D. Olson (lower left photo), Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company headquartered in Miami Beach.   

“This property received tremendous interest because it has little to no deferred maintenance, strong cash flow and minimal management responsibilities,” Kristol explained.

“The building is located on a square lot of almost an entire acre of commercial land in the heart of a dense retail section of Miami-Dade County. The Smoothie King space also benefits from a rare drive-through window on the north side of the property,”

The property was recently gut-renovated in 2010 for the two tenants, T-Mobile and Smoothie King. T-Mobile signed a new 7-year lease in 2011 and Smoothie King, backed by a multiple-unit franchisee, executed a 5-year lease.  It is located on the northeast signalized corner of Biscayne Boulevard and Northeast 126th Street at 12605 Biscayne Boulevard in North Miami.

Press Contact:

Ashley Steele

Fort Lauderdale Office

954-245-3400

New Waterfront Condo Tower Proposed For Fort Lauderdale Beach, FL Market

MIAMI, FL--A developer is proposing a new waterfront condo tower in Fort Lauderdale Beach in East Broward County, and in the process has boosted the total number of planned buildings to 57 since the South Florida real estate crash began in 2007, according to a new report from CondoVultures.com.

With the newly announced 11-story Grand Birch tower fronting the Intracoastal Waterway, nearly 9,400 condo residences have now been proposed for the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties as of Aug. 15, 2012, according to the Preconstruction Condo Projects list compiled by the licensed Florida brokerage CVR Realty™.

Some five years after the South Florida condo market began to stall, one new tower has already been completed in the tricounty region and 11 other high-rises are under construction as the post-crash development era gains momentum, according to a recent CondoVultures.com report.

"The Downtown Fort Lauderdale and Beach coastal market is increasingly on the radar of residential developers who are considering new condo projects in South Florida," said Peter Zalewski (top right photo) a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"Most of the proposed condo developments to date have been concentrated in the stretch from Greater Downtown Miami to South Beach to Sunny Isles Beach to Hollywood Beach.

This newly proposed project shows that developers are willing to start pushing north into Fort Lauderdale with new condo construction."

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.

HFF arranges financing and joint venture equity for Timberstone Apartments in Houston, TX

AUSTIN, TX – HFF announced it has arranged acquisition financing and joint venture equity for Timberstone Apartments (top left photo), a 240-unit multi-housing community in Houston, Texas.

HFF worked on behalf of Commerce Capital Partners, LLC to secure the acquisition loan through RGA Reinsurance Company.  HFF also arranged a joint venture equity contribution for the acquisition from a private investor.

Timberstone Apartments is located at 4200 West FM 1960,  close to major Houston employers including Hewlett Packard, Exxon Mobil and Lone Star College in north Houston.  Situated on 13.4 acres, the property has 10 residential buildings that are 95 percent leased.  Community amenities include a pool, barbeque grills, clubhouse and fitness center. 

The HFF team representing Commerce Capital Partners, LLC was comprised of senior managing director Douglas Opalka (middle right photo), managing director Matt Kafka (middle left photo), and associate director Robert Wooten.

Commerce Capital Partners, LLC is a private real estate investment firm focused on multifamily acquisitions, management and asset management in Texas, Arizona and Florida.

The principals in ComCapp have ownership interest in more than 60 properties comprising more than 14,000 apartment units and 3.5 million square feet of commercial space in eight states.

Contacts:

 DOUGLAS OPALKA                       

HFF Senior Managing Director         

(512) 532-1900                                    

dopalka@hfflp.com  

ROBERT WOOTEN                    

HFF Associate Director               

(512) 532-1900                            

rwooten@hfflp.com  

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF arranges $5 million refinancing for Pine Hollow Shopping Center in Conroe, TX

  

DALLAS, TX – HFF announced it has arranged a $5 million refinancing for Pine Hollow Shopping Center (top left photo), a 107,358-square-foot retail center in Conroe, Texas.

HFF worked exclusively on behalf of Cencor Realty Services to secure the 10-year, fixed-rate loan through Aetna Life Insurance Company.

Pine Hollow is located at the southwest quadrant of Interstate 45 and Loop 336 North in Conroe, approximately 30 miles north of downtown Houston.  Currently 92 percent leased, tenants include Aaron’s, Northern Tool+Equipment, Dollar Tree and Star Cinema Grill.

The HFF team representing Cencor Realty Services was led by managing director Travis Anderson (lower righ photo).

For a complete copy of the company’s news release, please contact:

TRAVIS ANDERSON                                                                           

 HFF Managing Director                                     

 (214) 265-0880                                                   

 tanderson@hfflp.com    

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Blood Bank Buys and Occupies $9.8 Million Office Building in Fort Lauderdale, FL

FORT LAUDERDALE, FL - OneBlood, Inc., a consolidation of several blood groups from around the state of Florida, has purchased the 75,000-square-foot office building located at 3000 W. Cypress Creek Road (top left photo) in Fort Lauderdale, FL.

The buyer was represented by Colliers International South Florida Chairman, Michael T. Fay (lower right photo) and Executive Vice President - Partner, John K. Crotty, CCIM.

  

 The seller, the Florida Department of Financial Services, was represented by Colliers Executive Vice President, Robert Listokin, SIOR and Senior Commercial Associate, Sal Bonsignore, CCIM. The all-cash transaction was completed for $9.8 million.

OneBlood will occupy the entire building, creating the BloodBank of Florida. OneBlood is made up of a merger of three not-for-profit blood centers including Community Blood Centers of Florida, Inc., Florida's Blood Center, Inc. and Florida Blood Services, Inc. The organization ensures that blood is available, safe and affordable for its hospital partners and patients.

"We had to work through the State of Florida as a receiver for a bankrupt business," explains Crotty. "The property had deed restrictions and a zoning issue conflicting with the buyer's use, which had to be addressed and overcome."

For a complete copy of the company’s news release, please contact:

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

HFF closes sale of 230 West Monroe in Chicago

CHICAGO, IL – HFF announced  it has closed the sale of 230 West Monroe (top left photo), a 623,524-square-foot office building in Chicago.

HFF marketed the property on behalf of a national private investment firm.  A joint venture comprised of Lincoln Property Company and an investment fund purchased the property for an undisclosed amount.

230 West Monroe is located in Chicago’s West Loop district at the intersection of South Franklin Street.  Currently 89 percent occupied, the 29-story office tower is leased to tenants in the financial services, education, engineering, insurance, legal and real estate industries.  The property underwent lobby renovation, retail expansion and elevator modernization in 2003. 

The HFF investment sales team representing the seller was led by senior managing directors Jeff Bramson (middle right photo) and Jaime Fink (lower left photo) and director Mark Katz. 

 “We are very pleased to acquire this wonderfully located asset in Chicago’s West Loop with its diversified rent roll and near term opportunity to lease more than 100,000 square feet of full floor high-rise space in the coming year,” said John Grissim, senior executive vice president at Lincoln Property Company.

Lincoln Property Company is one of the nation’s largest private diversified real estate service firms in the United States. 

 It currently has more than $30 billion in assets under management including 144,000 residential units and 130 million square feet of commercial space.  Lincoln’s Chicago commercial region’s leasing and management portfolio totals more than eight million square feet. 

Contacts

:                

JEFFREY M. BRAMSON                           

HFF Senior Managing Director             

  (312) 528-3650                                       

jbramson@hfflp.com                            

JAIME F. FINK                                    

HFF Senior Managing Director     

312) 528-3650                                 

jfink@hfflp.com                              

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500 

krmurphy@hfflp.com

Marcus & Millichap Announces Sale of 311-Unit Apartment development site in Tampa, FL for $4.8 Million

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the NoHo Flats development site; a new 311-unit, loft-style apartment community being built on roughly 8.5 acres within the North Hyde Park district located near downtown Tampa, Florida. 

According to Richard D. Matricaria, Regional Manager of the firm’s Tampa office, the site commanded a sales price of $4,888,817.

Casey Babb (top right photo), CCIM and Paul Bouldin (middle left photo), both senior associates in Marcus & Millichap’s Tampa office, acted in a transactional brokerage capacity to help facilitate the sale between the Tampa-based seller, Hyde Park Realty Group, LLC and the buyer, Atlanta-based Pollack Shores Real Estate Group.

North Hyde Park is an urban, mixed-use redevelopment of what has traditionally been an industrial neighborhood generally located along Rome Avenue just north of Kennedy Boulevard.

In 2006, nearly 15 acres were assembled and entitled for 1,500,000 square feet of residential and commercial space and the NoHo Flats will become the second major apartment development within the site. 

The project will be built on roughly 8.5 acres encompassing three city blocks and will offer market-rate, loft-style apartments within three and four-story buildings with surface parking and a host of community amenities.

Press Contact:

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

Faris Lee Investments Completes $5.7 Million Sale of Retail Property in Lubbock, TX

IRVINE, CA – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $5.7 million sale of a single-tenant retail property occupied by Best Buy (top left photo).

Built in 2003, the 30,000-square-foot property is situated on 3.14 acres and is located at 5916 W. Loop 289 in Lubbock, Texas. 

Jeff Conover (middle right photo), senior managing director with Faris Lee Investments, represented the all-cash buyer, Cole BB Lubbock TX, LLC, a buying entity of Cole Real Estate Investments from Phoenix.

Conover also represented the seller, Hawaii-based Lubbock HPI, LP.  The property garnered multiple offers and closed at a 7.95 percent cap rate.

“Faris Lee marketed the property through our proprietary database of institutional, 1031 exchange, and private capital buyers,” said Conover.

“Ultimately, we identified Cole Real Estate Investments, a real estate investment trust from Arizona who saw the intrinsic value of the property based on its key location and high tenant sales volume, as well as the absolute triple-net lease from Best Buy, a national credit tenant.”  

Conover added that Best Buy has eight years remaining on its 15-year lease plus four, five-year options to extend the term.

The property is ideally positioned with strong visibility from State Loop 289 (60,000 vehicles per day) and State Spur 327 (21,400 vehicles per day) and caters to over 249,000 people within its trade area, including Texas Tech University with approximately 32,000 students.

Best Buy is also adjacent to many major retailers including Home Depot, Lowe’s, and Target. In addition, the property is across the freeway from the South Plains Regional Mall, which is the premier enclosed mall in West Texas and is anchored by Dillards, JCPenney, Bealls, and Sears.

Contact:             

 Darcie Giacchetto, 949.278.6224

Spaulding Thompson & Associates

For Faris Lee Investments

Charles Dunn Co. Completes $7 Million Sale of Retail Property Occupied by CVS in Imperial Beach, CA

  

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the nearly $7 million sale of a 14,884-square-foot retail property occupied by CVS/pharmacy.

The property is situated on one-acre of land and is located at 800 Palm in Imperial Beach, Calif., south San Diego County.

Hamid Soroudi (lower right photo)and Kimberly Roberts Stepp (lower left photo) of Charles Dunn Company represented the buyer, Los Angeles-based Drooz Trust.  The seller was San Diego-based Imperial Beach Promenade, LLC and was represented by Sam Hanna of Marcus & Millichap.

 “The buyer had sold two apartment properties in Santa Monica and wanted to complete a 1031 exchange by purchasing a single tenant investment with a corporate guaranteed long-term lease which would give her a higher cash flow and no management fee,” said Soroudi.

 Contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

NAI Realvest negotiates renewal lease for 3,000 SF at Airport Industrial Center in Orlando

  

ORLANDO, FL – NAI Realvest recently negotiated a renewal lease of 3,000 square feet at 7480 Narcoossee Road in the Airport Industrial Center in southeast Orlando. 

Michael Heidrich, a principal at NAI Realvest, brokered the transaction representing the landlord, Columbus, Ohio-based Airport Investment Properties LLC and the tenant Plant It Earth, Inc. of Orlando.

For more information,  contact:

Michael Heidrich, Principal, NAI Realvest, 407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan or Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com