Crossman & Company Senior Associates Close 15 Deals in 30 Days

Kim Fitzgerald

 BOCA RATON, FL – Senior Associates Kim and Johnny Fitzgerald of Crossman & Company signed 15 leases in 30 days totaling 29, 337 square feet and close to $3 million in value.

 The shopping centers listed below welcome their new tenants, such as Chico’s, Wing Stop, Kumon Learning Center and Fat Papas Chicago Style Restaurant.

• Plaza Del Mar in Manalapan, FL
• Grove Market Shopping Center in Loxahatchee, FL
• Ramblewood Square in Coral Springs, FL
• Old Palm City in Palm City, FL
• Parkland Town Center in Parkland, FL
• Dansk Plaza Shopping Center in Pompano, FL
• The Shoppes at Jupiter in Jupiter, FL
• Galt Ocean Marketplace in Ft. Lauderdale, FL
• Polo Grounds Mall in West Palm Beach, FL
• Hampton Square in Boca Raton, FL
• Shoppes and Offices at PGA West in Palm Beach Gardens, FL

Johnny Fitzgerald

Crossman & Company President, John Crossman, states, “Kim and Johnny Fitzgerald continue to dominate in the South Florida market. They are making the Crossman team very proud.”

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

Sydnie Cobb

 Crossman & Company

 scobb@crossmanco.com

 407.581.6261

The Easton Group Adds Office Investment/Brokerage Division

Andrew Easton

Doral, FL — The Easton Group, an established commercial real estate company based in Doral, has launched a new office investment and brokerage division.

 The company recently purchased two office buildings in Miami-Dade County and hired real estate associate Andrew Easton to lead the new group. 

“While industrial real estate has been our bread and butter business for more than 40 years, this is a strategic move to further diversify and evolve our company to become more vertically integrated,” said Jose Hernandez-Solaun, president of The Easton Group.

“We will continue to be major players in industrial, but we see a lot of new opportunity with office and we have made the financial and human capital commitments to launch this new service.”

Jose Hernandez-Solaun

The Easton Group recently purchased an office building in Doral and another one in the Blue Lagoon area.

“We love both of these areas, especially Doral which is going through a renaissance right now,” said Andrew Easton, who joined the company from Jones Lang LaSalle where he specialized in office tenant representation.

“For the moment, there are still some good values on rents, but as the area continues growing, we expect to see solid rent appreciation.”

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

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999/954-290-0810

Kiser Institutional Group Retained to Sell 5200 N. Sheridan Road Apartment Building in Chicago’s Edgewater Neighborhood

Sheridan-Edgewater Apartments, 5200 North Sheridan Road,
Edgewater Neighborhood, Chicago, IL

Susan Tjarksen

CHICAGO, IL – Kiser Institutional Group, Chicago’s leading commercial real estate brokerage firm specializing in institutional multifamily properties throughout the Midwest, announces a new listing – the 223-unit Sheridan-Edgewater Apartments located at 5200 N. Sheridan Road in Chicago’s Edgewater neighborhood.

Originally built in the 1920s to serve as a luxury hotel, 5200 N. Sheridan Road offers a mix of efficiencies, studios, one- and two-bedroom apartments.

The first floor contains approximately 25,000 square feet of retail which has been strategically vacated so that new ownership can re-use the space for parking, amenities, or new specialty commercial tenancy. The building is being marketed without a price.

“An investor can significantly increase his or her presence in a stable rental market by purchasing this one building,” said Susan Tjarksen, principal, managing broker of KIG.

“We are seeing increased interest in the Chicago neighborhoods by national institutional investors and Edgewater is certainly one of those neighborhoods.  This asset will fit perfectly into an institutional portfolio.”

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

 Mark Thomton, mthomton@taylorjohnson.com

 312-267-4523

Berger Commercial Realty Honors Steve Hyatt as 2014 Broker of the Year

  

Steve Hyatt

                                                                 FORT LAUDERDALE, FL  – Berger Commercial Realty, a regional, full-service commercial real estate firm, is pleased to announce that Senior Vice President Steve Hyatt has been named the firm's Broker of the Year for 2014.

Hyatt closed more than $21.4 million worth of transactions last year, totaling more than 219,228 square feet across a range of commercial real estate sectors including office, retail, industrial and multi-family.

Notable deals that Hyatt closed in 2014 include the $4.5 million sale of a highly sought-after South Beach retail property and the $2 million sale of a 24,000-square-foot office building in Fort Lauderdale for the AIDS Healthcare Foundation; 

the $3.65 million purchase of a Fort Lauderdale site that will house the sales department of a MINI Cooper car dealership for Holman Automotive Group; and the 47,000-square-foot lease of flex space at 1700 Eller Drive in Hollywood for Enterprise Rent-A-Car, which is utilizing the property for administrative offices, supplementary off-airport parking and as a maintenance facility.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

954-776-1999, ext. 226 

Berger Commercial Realty Brokers Close Four Leases for More Than 12,000 Square Feet of Space in Broward County, FL

Roxanna Collins

FORT LAUDERDALE, FL -- Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, closed four leases in Broward County totaling 12,134 square-feet of space.

Brokers Joseph Byrnes and Jonathan Thiel represented Atrium 93, LLC in leasing 2,052 square-feet of space to New Life Chiropractic Center, LLC and 2,182 square-feet of space to Soring, Inc. at the newly renovated Atrium West office building.

 Located at 7771 W. Oakland Park Blvd. in Sunrise, within minutes of Florida's Turnpike, the Sawgrass Expressway, and I-95, the property features a modern interior, lush exterior landscaping, and ample parking.

  

Joseph Byrnes

Byrnes also represented Lauderdale Marketplace Investments, LLC in leasing 1,900 square-feet of space, located at 3738 W. Oakland Park Blvd., to tenant Nakhle and Khanlian, LLC, represented by Thiel.

Additionally, Roxanna Collins represented Mancini and Sons Florida in renewing a lease to Gannett Fleming, Inc. for 6,000 square-feet of space at 1900 N.W. 40th Court in Pompano Beach.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

954-776-1999, ext. 226 

Koreatown Apartment Building in Los Angeles, CA Sells for $3 Million

851 South Kenmore Avenue, Koreatown Neighborhood, Los Angeles, CA

Ronald Harris

LOS ANGELES, CA  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 851 South Kenmore Ave., a 33-unit apartment community located in Los Angeles’s Koreatown neighborhood.

The $3,025,000 sales price equates to $91,667 per unit.

            Ron Harris, executive vice president investments, Michael DiSimone, senior associate, and Paul Darrow, associate vice president investments, all in Marcus & Millichap’s Los Angeles office, represented the seller, a private investor, and the buyer, Winstar Properties.

“The property is a well-maintained building with distinctive 1930s-style architectural touches,” says Harris.

Michael DiSimone

“This multifamily investment real estate asset possesses a stable operating history and provides the new owner with potential upside in rental income,” adds DiSimone.

Built in 1939 on a 13,343-square-foot lot, the property is proximate to the Los Angeles Metro’s Wilshire/Vermont subway station and interstates 10 and 110 and U.S. Highway 101.

The apartment community consists of one two-story wood-frame building with 29 studio apartments, three one-bedroom/one-bath units and one two-bedroom/two-bath apartment. 

Unit interiors feature wood-laminate flooring, mirrored wardrobes and window-mounted air conditioning units.

Shared amenities include controlled-access entry, on-site laundry, five on-site parking spaces, and a central courtyard.

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

Gina Relva

 Public Relations Manager

(925) 953-1716

Six/Ten signs BBB Transport & Logistics to Suites on Central office lease in Winter Haven, FL

Angela Harwell

Winter Haven, FL — Six/Ten LLC has leased office space in its Suites on Central office center to BBB Transport & Logistics, which offers shipping solutions for businesses of all sizes. The company expanded its operations to an executive office space at 347 W. Central Ave.

“We are pleased to have BBB Transport & Logistics on board with us at Suites on Central,” said Angela Harwell, CCIM and broker for Open Door Commercial Real Estate LLC.

Suites on Central, 347 West Central Avenue
Winter Have, FL

“We continue to see steady demand for downtown office environments with amenities such as a shared conference room, security features, a downtown address and professional finishes,”

Harwell represented the landlord, Six/Ten, LLC in the transaction.

Based in Winter Haven, BBB Transport & Logistics out grew the company’s existing space which prompted the move downtown. Proximity and walkability to other restaurants, service providers and retailers in the area also led to the decision to lease space in Suites on Central.

For leasing information about the retail and office space opportunities, please contact Angela Harwell, CCIM and broker for Open Door Commercial Real Estate LLC at (863)528-6107 or aharwell@opendoorcre.com.

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

Michelle Friedman

BoardroomPR

407-973-8555

mfriedman@boardroompr.com

Red Seal Homes Starts Sales at Provenance in Northbrook Area of Chicago, IL

Provenance entrance, Techny Road and Western Avenue, Northbrook, IL

CHICAGO, IL – Northbrook-based Red Seal Homes has announced the start of sales at Provenance, a luxury master-planned community of 137 residences at Techny Road and Western Avenue in the north-suburban Northbrook area.

The community will include 21 single-family homes, 34 duplexes and 82 townhomes set on 44 acres. It is already more than 10 percent sold.

“As a local builder with an 81-year history in this area, we know from experience what an amazing place this is for residents to call home, so we are very excited to launch sales at Provenance,” said Todd Fishbein, president and CEO of Red Seal Homes.

“Our vision is that of an upscale, dynamic community that is a wonderful place for people ranging from young families through downsizers to live. It’s going to be very exciting to witness the positive impact this high-quality, upscale community will have on the area.”

For more information on Red Seal Homes, visit www.redsealhomes.com,

 and to learn more about Provenance, visit www.homesatprovenance.com

 or call (847) 417-3056.

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

Vanessa Irving, virving@taylorjohnson.com

, (312) 267-4525

Kim Manning, kmanning@taylorjohns.com,

 (312) 267-4527

HFF secures $17.7 million financing for dual-anchored retail center in southeastern Pennsylvania

Spring Towne Shopping Center, 2641--2679 Shillington Road, Reading, PA

 PHILADELPHIA, PA – HFF announced it has secured $17.7 million in financing for Spring Towne Shopping Center, a 277,860-square-foot, Lowe’s- and Giant-anchored retail center in Reading, Pennsylvania. 

Ryan Ade

HFF worked on behalf of the borrower, Brandolini Companies, to secure a long-term, fixed-rate loan with an institutional quality insurance company.  The loan will be used to refinance an existing mortgage on the property.

                Located at 2641-2679 Shillington Road, Spring Towne Shopping Center has frontage along Route 724 with direct access to an exit ramp off the highly-trafficked Route 222. 

Together, 56,000 vehicles travel on these roads each day providing significant traffic to the property. 

More than 150,000 residents live within a five-mile radius of the property, and residents within a three-mile radius earn an average annual household income greater than $75,000.

 Built by Brandolini Companies in 1990, the property is composed of four buildings and one gas station. 

In addition to the anchor tenants, the center is more than 97 percent occupied by H&R Block, UPS Store, Great Clips, Pet Valu, Subway, Fulton Bank, Monro Muffler & Brake, Hallmark and other local retailers.  

       

Christopher Bigos

                The HFF team representing the seller was led by managing director Ryan Ade and senior real estate analyst Christopher Bigos. 

“We were able to secure a loan for Brandolini that allows them to enjoy a low, fixed rate of interest for a long duration on a high-quality asset,” Ade said. 

 “The availability of an early rate lock was critical to the deal given the historically low-rate environment we are in today.”

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.brandolinicompanies.com.

HFF secures $260 million refinancing for Santa Monica, CA Class A office complex

The Water Garden Phase I, Santa Monica, CA

Jennifer L. Keller

NEW YORK, NY – HFF announced it has arranged $260 million in refinancing for The Water Garden Phase I, two six-story, Class A, office buildings totaling 673,660 square feet located in the heart of Santa Monica, California.

                HFF placed the 12-year, fixed-rate loan on behalf of the borrower, institutional investors advised by J.P. Morgan Asset Management, with New York Life Real Estate Investors. 

                The Water Garden Phase I is part of a larger 1.27 million-square-foot office complex called The Water Garden.

 Designed by McLarand, Vasquez & Partners, Inc., tenants of Phase I include Amazon, Edmonds.com, Group M Worldwide, Sony Computer Entertainment and AMC Networking Entertainment. 

Situated on 9.10 acres at 2425 Olympic Boulevard and 1620 26th Street in Santa Monica, the asset is 14 miles west of downtown Los Angeles in the Westside office market.  In 2016, a light rail station will open catty-corner from the property.

Mike Tepedino

The HFF debt placement team representing the borrower was led by senior managing directors Mike Tepedino and Paul Brindley and director Jennifer Keller.

“The Water Garden has always been one of the top office assets in Los Angeles,” Brindley said.  “Its position as the leading office asset in Santa Monica will be enhanced further by the sponsor’s careful consideration of strategic capital improvements to meet the evolving demands of the creative tenants that call Santa Monica home.

“Furthermore, with the future opening of the Bergamot/26th Street Expo Station across the street, the asset will offer the best combination of institutional ownership, improvements and mass transit options of any major asset in West Los Angeles.” 

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.newyorklife.com/realestateinvestors

Marcus & Millichap Arranges Sale of Pine Crest Square in Fort Lauderdale, FL for $5.7 Million

Douglas K. Mandel

 FORT LAUDERDALE, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Pine Crest Square, a 40,409-square foot retail property located in Fort Lauderdale, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $5,783,000 equating to $143 per square foot.

Douglas K. Mandel, a first vice president investments, Barry M. Wolfe, a vice president investments, and Alan Lipsky, an associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Delray Beach, Fla. 

“Pine Crest Square serves the predominantly residential neighborhoods along East Cypress Creek Road and benefits from its proximity to I-95 and the traffic generated by several hotels and office parks in the immediate area,” says Mandel.

Barry M. Wolfe

 “The property is well-positioned to serve not only the needs of the residents but also daily corporate and tourist traffic. The current tenant mix serves both markets.”

Located at 901-959 East Cypress Creek Road, the property is immediately east of I-95 and adjacent to the prestigious Pine Crest School campus.

Tenants include a mix of local and national retailers, including Subway, Jiffy Lube and 7-Eleven. The property is on the eastern boundary of the Cypress Creek Office submarket, which contains many large office properties, hotels and hospitals.

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

Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

NAI Realvest Negotiates Four New Industrial Leases at Orlando CommerCenters totaling 17,224 Square Feet

 

Michael Heidrich

ORLANDO, FL – NAI Realvest recently negotiated four new lease agreements for industrial space at Goldenrod and Hanging Moss CommerCenters that total 17,224 rentable square feet. 

Michael Heidrich, principal and Kristen Kemp, associate at NAI Realvest negotiated three new leases representing Landlord, Goldenrod SPE, LLC at 1460 and 1468 N. Goldenrod Rd. in east Orlando. 

6,618 square feet was leased to American Ecosystems, Inc. which specializes in aquatic maintenance for HOAs and golf courses.  The tenant was represented by Josiah Biddle of McNulty Group.   

Kristen Kemp

Honda Pro Parts, specializing in parts and repair of Honda and Acura vehicles leased 4,000 square feet and was represented in the transaction by Eury Ortiz of Silver Key Investment Group

Alpha Environmental Management, a full service environmental consulting and remediation firm leased 2,206 square feet at Goldenrod CommerCenter.

Heidrich and Kemp also represented Orlando-based landlord Hanging Moss SPE, LLC in a lease agreement with Winter Park Cycles for 4,400 square feet at Hanging Moss CommerCenter, 6112 Hanging Moss Rd. in Orlando. The tenant was represented by Nelson Gonzalez of Enego Investments, Inc.

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

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Marcus & Millichap Brokers Sale of Wellington Self Storage in Lake Worth, FL

Wellington Self Storage, Lake Worth, FL

Michael A. Mele

LAKE WORTH, FL -- Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Wellington Self Storage, a 71,657 net rentable square foot, self-storage facility located in Lake Worth, Florida.

Michael A. Mele, senior vice president investments in Marcus & Millichap’s Tampa office, represented the buyer and the seller in this transaction.

Wellington Self Storage is situated on 4.56 acres and is located at 5359 South State Road 7 in Lake Worth, Florida. The facility was built in 2003 and consists of 643 units.

Mele said the  seller did “a great job operating the facility and through our platform we were able to procure multiple offers from qualified buyers, showing continued interest in Class A assets.”

The Mele Group of Marcus & Millichap Florida, Inc specializes in self storage sales and research.

We provide top of the line market knowledge, access to the largest pool of qualified investors and exchange buyers and a system of creating the broadest possible exposure for each and every facility.

The Mele Group of Marcus & Millichap is your choice for bigger deals, better marketing, higher offers and faster closings.

Click here to view our closed transactions, other listings and learn more about our team:  www.MeleStorageGroup.com/Closed-Listings.

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

Michael Mele

Michael.Mele@marcusmillichap.com
813.387.4790

Bull Realty Brokers $9.8 Million Office Building in Greensboro, NC

301 North Elm Street, Greensboro, NC

Frank Meyrath

ATLANTA, GA (March 20, 2015) — Bull Realty brokered the $9.8 million sale of a 168,500 sq ft Class A office building in Greensboro, NC located at 301 N. Elm St. The transaction closed on Feb. 27, 2015.

 Located in the heart of Greensboro, North Carolina's central business district, 301 N. Elm St. is one of only seven Class A office buildings in the submarket.

 “The building is well-positioned to take advantage of the improving Greensboro market, which was recently named by Forbes magazine as one of the fastest growing cities in the United States,” said Frank Meyrath, VP of Capital Markets for Bull Realty.

“This is a great acquisition for the buyer, a subsidiary of The Simpson Organization. They intend to take advantage of the upside potential and position the property to benefit from the overall improvements in the economy.”

 Michael Bull said, “We are an Atlanta-based brokerage licensed in 9 states. We are pleased to have been chosen to market a Class A asset in North Carolina.”

 Greensboro has made a significant investment in its downtown district. Directly across from 301 N. Elm St. is a planned performing arts center which will be a big draw to the area.

Michael Bull

Overall, the metro area has a significant presence of distribution and transportation companies. Additionally, British-based Imperial Tobacco group recently chose Greensboro for its headquarters.

 “This is the second disposition we handled for the seller,” said Meyrath. “After accepting the assignment, the marketing generated interest and offers from investors across the country and from Europe.

"Ultimately, the buyer was chosen on a number of factors including pricing and a history of successfully closed transactions.”

The seller recently completed significant improvements to the property with a complete reskinning of the building with a new exterior shell in 2014. According to Meyrath, the new look was well-received by tenants and the community.

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

Melissa Henry

Communications Associate

Bull Realty, Inc.

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 110

Essex Realty Group Brokers the Sale of 2850 N. Clark St. in Chicago, IL

  

2850 North Clark Street, Chicago, IL

Douglas Fisher

CHICAGO, IL -- Essex Realty Group, Inc. is pleased to announce the sale of 2850 N. Clark St.

2850 N. Clark St. is a mixed-use offering of two (2) adjacent buildings located in Chicago’s Lakeview neighborhood.

The property consists of 23 residential units and 5,325 square feet of commercial space with additional basement storage. In addition, the property includes 10 exterior parking spaces.

The buildings are situated one block north of the vibrant intersection of Clark Street and Diversey Avenue, offering tenants an array of options for shopping, dining and entertainment.

Matt Welke

 In addition, the property is located within walking distance of Diversey Harbor, the Diversey Driving Range, Lake Michigan, as well as Wellington and Diversey CTA (Brown/Purple) stations.

The sale price was approximately $8,975,000.

Doug Fisher represented the seller on the transaction and Matt Welke represented the purchaser.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com