NAI Realvest Negotiates $1.375 Million sale of Two Industrial Buildings totaling 25,200 square feet at Poinciana CommerCenter in Kissimmee, FL

Poinciana CommerCenter West, KIssimmee, FL

Michael Heidrich

ORLANDO, FL– NAI Realvest recently completed the sale of two buildings totaling 25,200 square feet of industrial space for $1,375,000.00 at Poinciana CommerCenter West in Kissimmee.

 Michael Heidrich, principal at NAI Realvest, negotiated the transactions representing the seller, New York, N.Y.-based Poinciana CommerCenter West, LLC.

 Deeja Foods, Inc. of Kissimmee, who leased two of the largest spaces at Poinciana CommerCenter West, exercised their option to purchase both buildings – 1770 Business Center Lane with 13,600 square feet for $725,000.00 and 1780 Business Center Lane with 11,600 square feet for $650,000.00.    

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

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

NAI Realvest Names Ryan Beerbower broker associate in Orlando, FL Office

Ryan Beerbower

ORLANDO, FL -- NAI Realvest one of central Florida’s largest commercial real estate services companies and developers of industrial facilities, recently named Ryan Beerbower broker associate.

Robin L. Webb

Robin L. Webb, CCIM, managing director at NAI Realvest, said Beerbower has 15 years of experience in commercial property development, project management and construction.

Beerbower holds a Bachelor of Science in Building Construction Management from University of Florida and he received his MBA from University of Central Florida.

Tom Hankins

Webb said Beerbower will join the Hankins Group Investment Team with NAI Realvest principal Tom Hankins and will be focusing on sale of and investment in office properties in the Maitland and Winter Park areas.

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

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

Hendricks-Berkadia Negotiates $21.2 Million Sale of 420 Unit Park Place Luxury Apartment Community in Port Richey, FL

Park Place Apartments, 9310 Valley View Lane, Off U.S. 19, Port Richey, FL

Jason Stanton

TAMPA, FL -- Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated the sale of the 420-unit Park Place apartment community at 9310 Valley View Lane in Port Richey off U.S. 19.

Situated on 23.51 acres, amenities include two pools, Jacuzzi, tennis court, fitness center, two clubhouses, barbeque grills, laundry facilities, and car-care center.

Hal Warren

Jason Stanton, vice president based in Tampa, negotiated the sale with associate partner Hal Warren of the firm’s Orlando office, and Cole Whitaker, partner who heads Hendricks-Berkadia’s southeast region.

Cole Whitaker

Hendricks-Berkadia represented the sellers, Trail Port Richey, LLC and CC Port Richey Apartments, LLC, a partnership of Tom Cabrerizo and Maurice Cayon.

Stanton said the investment property which was built in 1985, benefits from more than $1 million in renovations and improvements over the past three years and has the potential to increase future revenues through a value add program, increasing occupancy to market levels.

Dorvidor Management Company, LLC paid $21,200,000 for the property.

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

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

Stonemark Management Adds Yardi Expertise; Firm Skilled in Both Major Property Management Software

Lela Brooks

Atlanta, GA – Multifamily property management firm Stonemark Management recently hired Lela Brooks to train managers and leasing staff on the Yardi platform.

Gaining proficiency with Yardi property management software means the firm can seamlessly acquire and manage multifamily communities that currently use the Yardi platform.

Stonemark manages multifamily communities for a large number of third-partner owners and investors, as well as joint ventures involving its corporate partner Stonemark Equities.

 Its staff is already skilled in another leading software platform, RealPage’s OneSite system. The addition of Brooks to the firm’s team means it is  becoming proficient in both leading property management operations systems.

“The training that Brooks provides means the firm can now serve a wider array of clients and more seamlessly implement new management contracts, regardless of the software the communities have in place,” said Michael Taylor, CEO of the Stonemark Group.

Michael Taylor

Brooks has more than 15 years experience in real estate, IT and telecommunications. She was previously with Columbia Residential. She earned her undergraduate degree from Alabama A&M University, and is also a licensed paralegal.

The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeastern U.S. and Texas. 

The group includes Chicago-based Stonemark Equities and Atlanta-based Stonemark Management. For more information, visit http://www.stonemarkmanagementllc.com.

  

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

Terri Thornton 404-932-4347 Terri@TerriThornton.com  

Maury L. Carter and Associates, Inc. Brokers Sales of 12 Bank Owned Properties in 20 Months

  

Daryl M. Carter

Orlando, FL– Maury L. Carter & Associates, Inc. sold a 16-acre parcel of bank owned land on Hancock Road, south of Highway 50 in Lake County, for PNC Bank, N.A. to Clermont Storage Center, LLC for $450,000 cash. 

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller.  Austin Anderson with Realty Executives, Lake County, represented the buyer. 

Carter says “this level of activity and shrinking bank owned property inventory are signs that Central Florida is recovering from the recession.”

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development.

  

The firm's officers combine more than 75 years experience in real estate investments and brokerage.

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

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200, Orlando, FL 32806

407-422-3144

www.maurycarter.com

HFF secures $40 million financing on behalf of The Shamrock Group from Canyon Capital for development of retail outlet center on U.S./Mexico border in San Diego, CA

Rendering of The Outlets at the  Border, a planned retail outlet center along the U.S.-Mexican border in San Ysidro, CA

Aldon Cole

SAN DIEGO, CA – HFF announced today that it has secured $40 million in financing for the development of The Outlets at the Border, a 140,000-square-foot retail outlet center along the U.S./Mexico border in San Ysidro, California.

                Working exclusively on behalf of The Shamrock Group, LLC, HFF placed the $40 million construction loan with Canyon Capital Realty Advisors. 

                Slated for completion in October 2014, The Outlets at the Border is currently under construction and is in the pre-leasing stage with many of the industry’s top national and international retail brands already signed. 

The newly constructed outlets will be the most proximate stores to the San Ysidro Port of Entry, including the new pedestrian border crossing, slated to open in 2015, and is adjacent to the new vehicle entry into Mexico known as El Chaparral, which opened in November 2012. 

The San Ysidro Port of Entry is the busiest crossing in the world with approximately 100 million crossings per year including more than 26 million pedestrians. 

Tim Wright

The Outlets at the Border will be the final phase of the Las Americas Master Plan that includes the development of approximately 800,000 square feet of retail space

                The HFF team representing the Shamrock Group, LLC was led by managing director Aldon Cole and senior managing director Tim Wright.

“The Outlets at the Border will become the new front door to the United States and the highly successful Las Americas retail commerce area.  We are excited to bring a variety of new, top quality retailers into this exceptionally vibrant retail environment that has continued to thrive with consistent high levels of traffic, top of industry sales volumes and low vacancies,” said Randy Levinson of Shamrock Group

                The Shamrock Group, LLC is a San Diego-based real estate development and investment firm founded by Michael K. Binkle and Randy A. Levinson. 

The group primarily focuses on acquisition, development and investment in commercial, office, industrial and retail real estate within the western United States. 

For more information about The Shamrock Group, LLC, visit www.theshamrockgrp.com

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

New Owners Reposition The New Dadeland @ 9700 in South Miami, FL

Rendering of Dadeland@9700 in South Miami, FL
at SW 98th Street and South Dixie Highway (US 1)

Ericka Witkowski

MIAMI, FL -- New ownership is in the process of repositioning Dadeland @ 9700, an 11-story office building at the high-visibility intersection of SW 98th Street and South Dixie Highway (US 1) in Miami.

A new façade and common areas designed by Burton Hersh, P.A., are in the works.

The availability of prominent signage options on the property, located at 9700 South Dixie Highway (US 1) in the South Miami/Dadeland/Pinecrest submarkets, make the building ideal for businesses and professionals.

Leasing consultants Joseph Abood and Ericka Witkowski of Colliers International South Florida are lead brokers for the property.

 Since September when Colliers began leasing the 67,142-square-foot building, proposals for more than 25,000 square feet have been delivered to prospective tenants. "Some full floors are available, as are contiguous areas ranging from 19,150 square feet to 618 square feet," said Abood.

Joe Abood

Even with the physical improvements and tenant-centric new management, lease rates remain favorable to prospective tenants,

Abood said. "Dadeland @ 9700 contains ample covered parking. It is within walking distance of retail, banks, restaurants and the Metrorail, so the location is convenient for those who work in the building, as well as for the clients and customers of businesses there."

Robert Berrin and Ike Fisher, Managing Partners, acquired the building in September, and are fast-tracking the work on the façade and entry.

Easy ingress and egress, consistent attention to common area details, and redundant electrical generators are some of the many benefits that make Dadeland @ 9700 an outstanding opportunity. 

  

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

Chatham Lodging Acquires SpringHill Suites in Savannah, Georgia’s Downtown Waterfront Historic District

  

SpringHill Suites by Marriott Savannah Downtown/Historic District, Savannah, GA

SAVANNAH, GA and PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that it has acquired the 160-room SpringHill Suites by Marriott Savannah Downtown/Historic District for $39.8 million, plus customary acquisition and closing costs. 

Jeffrey H. Fisher

Chatham funded the purchase with available cash and borrowings on its secured revolving credit facility.  

Following the acquisition, the company’s leverage ratio is 37 percent, calculated as net debt to hotel investment at cost.  

Chatham currently has the capacity to make incremental acquisitions in the range of $150-$200 million on its balance sheet.

The purchase price represents a forward 12- month capitalization rate of approximately 8.5 percent based on the hotel’s projected net operating income.

Year-to-date through September 30, 2013, the hotel’s RevPAR is up nearly 6 percent to $113.

The SpringHill Suites is the newest hotel within Savannah’s landmark waterfront Downtown/Historic District. 

Savannah Downtown Historic District

Constructed under the strict guidelines of the Historic District’s Preservation Plan and the Savannah Metropolitan Planning Commission, the hotel blends in well with the neighborhood, which is characterized by meticulously restored buildings. 

The Historic District is considered the largest National Historic Landmark District in the United States and is ranked as one of the Top 10 City Destinations in the United States attracting more than  50 million visitors in the past decade.

“Despite the current competitive transaction climate in the lodging industry, we continue to source high quality acquisitions in off-market transactions through our extensive industry relationships,” said Jeffrey H. Fisher, Chatham’s chief executive officer.  

”This hotel matches our strategy perfectly with its infill location, recent construction in 2009, high barriers to new competition and strong, growing demand.  

“Similar to our downtown Portland, Maine Hampton Inn and Suites, demand at this hotel is consistently strong for leisure travelers year-round, due to its great location. 

“The hotel also attracts the corporate traveler segment, which seeks a premium-branded hotel in a great location within the beautiful Historic District.”

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

Jerry Daly

Daly Gray Public Relations                                                   

jerry@dalygray.com

 (703) 435-6293                                                                                                                                                              

Dennis Craven

Chief Financial Officer

dcraven@cl-trust.com 

(561) 227-1386  

 www.chathamlodgingtrust.com.

HFF closes sale of Class A office property in downtown San Mateo, CA

400 South El Camino Real, Downtown San Mateo, CA

Stevem Golubchik

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of  400 South El Camino Real, a 14-story, 145,986-square-foot, Class A office property in downtown San Mateo, California.

                HFF represented the seller, Equity Office Properties in this transaction.  Romel Enterprises, LLC purchased the asset for an undisclosed amount free and clear of debt.  Romel’s real estate portfolio primarily consists of Class A properties throughout the country, and the firm will continue to seek these ‘institutional-quality’ assets.

                Originally completed in 1973, 400 South El Camino Real was renovated in 2003 and is 91 percent leased to tenants including UBS, Chicago Title Insurance/Fidelity National Title Group, TD Ameritrade, ZS Associates and the U.S. Army. 

Michael Leggett

The property also features a six-story, 254-space parking structure and 360 degree views of the Peninsula and San Francisco Bay.

 Situated in downtown San Mateo, 400 South El Camino Real is within walking distance of the San Mateo Caltrain Station and close to US Highway 101, Interstate 280 and State Highway 92 providing access to San Francisco and Silicon Valley. 

The HFF investment sales team representing the seller was led by managing director Steven Golubchik, senior managing director and co-head of HFF’s national office investment sales platform Michael Leggett and director John Simerlein.

John Simerlein

“This property has a prime location in downtown San Mateo, which continues to see strong demand from tenants looking for office space in walkable and amenity-rich locations with access to Caltrain,” said Golubchik.

  “Historically, 400 South El Camino Real has outperformed both San Mateo City and County, posting substantially higher average occupancy levels and rental rates.”

Equity Office Properties is one of the largest and most well-respected commercial real estate firms in the nation, with a portfolio encompassing 70 million square feet of Class A office space under management in superior locations throughout the country.  For more information, visit www.equityoffice.com.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Greenwich Village Units in Manhattan, NY Trade for $19.2 Million

143-145 West 4th Street, West Village area of Greenwich Village,
Manhattan, NY

Joseph Koicim

NEW YORK, Dec. 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 26-unit multifamily property located at 143-145 West 4th St. The $19,200,000 sales price equates to $1,147 per square foot.

            Joseph Koicim, Peter Von Der Ahe and Sean Lefkovits, all in Marcus & Millichap’s Manhattan office, advised the seller, Silverstone Property Group. The buyer is a private investor who purchased the property through a 1031 exchange.

            Silverstone Property Group acquired 143-145 West 4th St. in August 2012 for $11,325,000 and implemented a renovation program for the free-market units and common areas.

Peter Von Der Ahe

            “The property is located within one of the most desirable rental markets in Manhattan,” says Koicim. “The 21 free-market units have been fully renovated to luxury standards and the five rent-stabilized units provide the new owner with a significant upside opportunity.”

            Located in the West Village area of Greenwich Village, 143-145 West 4th St. is one half-block from Washington Square Park and near New York University’s undergraduate school, the New York University School of Law and several subway stops.

The northernmost point of West Village is the Meatpacking District, which includes renowned restaurants and high-end boutiques that attract local residents and tourists from around the world. 

Sean Lefkovits

            The building’s unit mix features four one-bedroom units, 11 two-bedroom apartments, 10 three-bedroom units and one five-bedroom apartment. All of the free-market units feature new hardwood floors, stainless-steel appliances, marble countertops, modern bathroom designs, high-end light fixtures and washer/dryer units.

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

Gina Relva

Public Relations Manager

(925) 953-1716

HFF closes $76.2 million sale of student housing community near Virginia Tech

Terrace View Apartments, 413 Hunt Club Road, Blacksburg, VA

Brian Kelly

CHICAGO, IL – HFF announced today the $76.2 million closing of the sale of Terrace View Apartments, a 756-unit, 1,720-bed student housing community near Virginia Tech in Blacksburg, Virginia.

 HFF marketed the property on behalf of the seller, a joint venture between Iconic Development and Wheelock Street Capital.  MCS Capital Partners purchased the asset for $76.2 million and assumed an existing Fannie Mae loan. 

Terrace View Apartments is located at 413 Hunt Club Road within walking distance to the Virginia Tech campus. 

Troy Manson

Most recently renovated in 2013, the fully-leased property was completed in nine phases and has 81 buildings with one- through four-bedroom townhomes and flats averaging 938 square feet each. 

Community amenities include a newly-renovated clubhouse and fitness center, swimming pool, resort-style hot tub with waterfall, tanning bed, game room, TV lounge, disc golf course, community garden, professional beach volleyball court, dog park, three volleyball courts, four basketball courts and 12 picnic and grill areas. 

Mike Higgins

The HFF team representing the seller was led by managing directors Brian Kelly and Troy Manson with support from Mike Higgins.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

NAI Realvest Completes Two Lease Agreements totaling 5,340 square feet of Office Space at University Court in East Orlando, FL

University Court, 3361 Rouse Road off University Boulevard, East Orlando, FL

Ginger Vetter

ORLANDO, FL --- NAI Realvest recently negotiated two office lease agreements totaling 5,340 square feet at University Court located at 3361 Rouse Rd. off University Blvd. in east Orlando.

Senior Broker Associate Mary Frances West, CCIM and Associate Ginger Vetter represented the landlord at University Court – RREF Interchange-FL, Rouse, LLC of Daytona Beach – in a new lease agreement for Suite 200 with 2,670 square feet.  

The tenant is Playoff Technologies, LLC. 

Mary Frances West

  Veraxx Engineering Corporation, a firm specializing in software development, flight simulation and avionics systems, renewed its lease of 2,670 square feet in Suite 245 at University Court.

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

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

  

NAI Realvest Negotiates Industrial, Office and Retail Leases in Longwood, Sanford and College Park Area of Orlando, FL

Brio Business Park site at 1205 West Airport Boulevard, Sanford, FL

Michael Heidrich

ORLANDO, FL– NAI Realvest recently negotiated three lease agreements in Longwood, Sanford and the College Park area of Orlando that total 17,945 square feet.

Michael Heidrich, principal at NAI Realvest brokered a lease renewal for 15,045 square feet of industrial/flex space at 260 Hunt Park Cove off Florida Central Parkway and SR 434 in Longwood.  MasTec North America, Inc., based in Coral Gables is the tenant and Dunhill Investments, Inc. of Longwood is the landlord.

Thomas B. Ball III

Heidrich also negotiated a new lease for 2,000 square feet of office space at the Brio Business Center, 1205 W. Airport Blvd. in Sanford, representing the Winter Park-based landlord Brio, LLC.   The tenant, which plans to use the space for Church offices is G3 Church-Sanford Inc. represented in the transaction by Thomas B. Ball III. 

At 4315 Edgewater Drive in Orlando’s College Park, Heidrich completed a new retail lease agreement for 900 square feet.  The tenant Ernest Chilas of Clermont leased the space to open a resale store.   Stout Real Estate LLC is the landlord.

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

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

  

Beville Road Business Park developed by Winston James in South Daytona, FL is new home to Ivonis Trading Motorcycle Clothing & Accessories

SOUTH DAYTONA, FL. -- Winston James Development, based in South Daytona Beach, recently negotiated a new lease at its Beville Road Business Park, 933 Beville Rd.

Beville Road Business Park, South Daytona, FL

Winston Schwartz, president of Winston-James Development, said Ivonis Trading Company LLC, which markets a wide range of motorcycle clothing and accessories online and through mail order, recently leased 1,060 square feet of space for a new warehouse and distribution facility.

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

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

  

ZipRealty Reports Home Buyers Can Find the Best Bargains on the East Coast

EMERYVILLE, CA -- The latest edition of ZipRealty’s Housing Trends Report points to an overall cooling of the housing market across 24 metro areas.

Even though the median sales price across all markets of $267,832 is still 12.6% higher than it was in mid-November 2013, year-over-year growth has waned from a 15% gain just one month ago. 

Metros where you can find the best housing bargains or those that were flat or posted very little price growth as of Nov. 15 are located almost exclusively on the East Coast:

Metro Area	Median Sales Price 11/15/12	Median Sales Price 11/15/12	Percentage Growth
Philadelphia	$199,000	$200,000	0%
Richmond, Va.	$201,625	$205,000	2%
Baltimore	$240,000	$245,000	2%
Washington, D.C./N. Va.	$345,000	$358,500	4%
Denver	$242,500	$358,500	4%

As median sales prices rose throughout 2013, the industry focused on the inventory of for-sale housing. In the early part of 2013, the average supply of homes for sale in ZipRealty’s study was down 30% or more year-over-year.

Lanny Baker

That lack of supply, coupled with low interest rates and pent-up buyer demand, helped spur the strong gains in sales prices this year. As prices have risen, inventory has decreased.

 But now, it appears as though inventory levels are starting to trend upward: In the new report, housing inventory across all metros was down only 9% annually as of mid-November, marking the highest level of inventory thus far in 2013. 

The metros with the biggest annual increases in inventory as of mid-November 2013 were:

·         San Diego – 22%

·         Sacramento − 21%

·         Las Vegas − 18%

“Not surprisingly, these metros have also seen some of the most rapid escalation in median sales prices over the last 12 months, and it appears that those gains have not been lost on home owners who are now bringing more properties to market,” said ZipRealty CEO and President Lanny Baker.

To download a complete copy of the report, click here: http://www.ziprealty.com/blog/sites/default/files/ZipRealtyHousingTrendsReport%2011-15-13FINAL.pdf.

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

Stacey Corso

Public Relations Manager

ZipRealty, Inc.

Office: 510.735.2667

Cell: 415.672.6460

www.ziprealty.com

Follow us on Twitter: @ZipRealty