Stepp Commercial Completes $2.53 Million Sale of 20-Unit Apartment Property in Downtown Long Beach, CA

425 Lime Avenue Apartments, East Village Arts District, Downtown Long Beach, CA

LONG BEACH, Calif. April 27, 2015 – Stepp Commercial, the leading multifamily brokerage firm in the Long Beach market, has completed the $2.53 million sale of a 20-unit apartment property located at 425 Lime Avenue within the East Village Arts District in Downtown Long Beach.  

Robert Stepp

Robert Stepp, principal, and Michael Toveg, vice president, with Stepp Commercial, represented the buyer, NNC Apartment Venture LLC from Long Beach, as well as the seller, a private investor from Palos Verdes. 

The property closed at a 5.88 percent cap rate.

Built in 1973, 425 Lime Avenue features 15 one-bedroom units and five studio units. The majority of the units offer balconies or patios.

“Stepp Commercial marketed the property as an opportunity to add value by making renovations to the outdated units in order to obtain market rents,” said Stepp. 

“We identified a seasoned buyer – an owner and operator of more than $500 million in multifamily properties nationally – that was willing to assume a loan on the property slightly higher than current rates.”

Toveg noted: “The buyer was attracted to the building due to its East Village Arts District location and plans on a full renovation and repositioning of the property in the coming months.”

Michael Toveg

The East Village Arts District is the name of the eastern half of Downtown Long Beach and is one of the hottest areas in the city. This district is undergoing a growing demand for housing as it provides an eclectic mix of retail, dining, entertainment, and art. 

The property will also see the long-term benefit of being near 

The Current at Shoreline Gateway, a 17-story mixed-use project that will include 223-apartment units and retail, which is also within the East Village and is set to open in early 2016.

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

Darcie Giacchetto

949.278.6224

RealtyTrac Announces 54 Deals Closed Since Launching Tax, Deed and Mortgage Data File Licensing Business Last Year

Jamie Moyle

IRVINE, Calif.— RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, announced it has closed 54 deals and hired dozens of employees, including multiple data licensing industry veterans, since launching its tax, deed and mortgage data file licensing business in March 2014, when it became one of only three national providers and the first new entrant in the market segment in more than 20 years.

“We are humbled by the industry support we have received over the past year,” said Jamie Moyle, CEO at RealtyTrac.

“While the other two national public record data providers have in the past built a formidable framework around these massive datasets, RealtyTrac has created a whole new game that is unparalleled in the industry. 

"Driven by our quest for real estate transparency, we are empowering our customers with flexible, creative datasets that are easy to deploy across multiple industries.”

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

RealtyTrac Reports Volume of Homes Seriously Under Water Increased in First Quarter

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its U.S. Home Equity & Underwater Report for the first quarter of 2015, which shows that at the end of the first quarter of 2015 there were 7,341,922 U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13.2 percent of all properties with a mortgage.

The share of seriously underwater homeowners increased 0.4 percentage points from Q4 2014 — the first quarterly increase since the second quarter of 20120 — but still down more than 4 percentage points from a year ago.

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

Lincoln Brokers Lease Renewals by Dollar Tree and Hibbett Sports at City Crossing in Warner Robins, GA

Kim Dart

TLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered lease renewals by Dollar Tree and Hibbett Sports at the City Crossing shopping center in Warner Robins, Georgia.

Kirk Williams, vice president of retail leasing in Lincoln’s Atlanta office, represented the landlord in the transactions and was assisted by Kim Dart and Morris Srochi of Dart Retail Advisors in the Hibbett Sports deal.

The details of the City Crossing transactions are as follows:

• Dollar Tree extended its lease of 15,600 square feet for 10 years, to 2025.

• Hibbett Sports renewed its lease of 6,000 square feet.

Through its leasing and management of City Crossing, Lincoln has revitalized the center, which totals 190,433 square feet and was built in 2001. After taking over the property as a court-appointed receiver, Lincoln worked on behalf of City Crossing’s ownership to negotiate and rebuild a faulty retaining wall on the property, which removed an impediment to securing leases. The repairs were fully completed in third-quarter 2014.

Kirk Williams

The completion of the repairs resulted in an increase in leasing activity, which has allowed Lincoln to renew and extend several credit tenants such as Michaels, Shoe Carnival, Dollar Tree and Hibbett Sports. 

A new anchor tenant, HomeGoods, has been signed to occupy 22,873 square feet, and this new retailer will open in the fall of 2015, bringing increased traffic to the center. The center’s occupancy rate has improved to 86 percent.

“Like retail markets across the state, the retail sector in Warner Robins continues to improve, and City Crossing offers a prime spot for retailers in the market,” Williams said. 

“Both Dollar Tree and Hibbett Sports recognize the value of being in City Crossing and were eager to remain in this improved, highly visible location.”

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

 Stephen Ursery

  Phone:  +1 (404) 549-7150

  Email:  sursery@thewilbertgroup.com

JLL Names Patsy Alston Vice President and Director of Marketing and Communications for Atlanta Office

Patsy Alston

ATLANTA, GA – Patsy Alston, a branding, marketing and public relations specialist with more than 15 years of experience in planning and executing communications initiatives, has joined JLL’s Atlanta office as Vice President and Director of Marketing and Communications.

 Alston will design and implement marketing and communication plans to drive demand for the firm’s service offerings and build the JLL brand in the Atlanta market.

Alston joins JLL from Harry Norman, Realtors, where she served as the Director of Marketing and Communications for five years and developed the residential real estate firm’s branding and marketing strategies.

“Patsy brings considerable branding experience as well as excellent execution skills and a collaborative work style,” said Mike Sivewright, JLL’s Atlanta Market Director. 

“The combination of these experiences and her impressive leadership track record will enable Patsy to effectively build upon our brand and market our services across the region.”

For more news, videos and research resources on JLL, please visit JLL’s U.S. Media Center web page.

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

 Stephen Ursery

  Phone:  +1 (404) 549-7150

  Email:  sursery@thewilbertgroup.com

www.jll.com.

HFF arranges joint venture equity and debt financing for 2144 California Street in Washington, D.C.

2144 California Street, formerly The Envoy Apartments,
 Kalorama Heights Neighborhood
Washington, DC

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity and debt financing for the acquisition and redevelopment of 2144 California Street, formerly known as The Envoy Apartments, a nine-story, 113-unit apartment building in Washington, D.C.’s Kalorama Heights neighborhood.

Tracey Appelbaum

HFF worked on behalf of the developer, Federal City Property Investors LLC (Fed City), to arrange a joint venture equity partnership with CBD LLC (CBD), who contributed equity for the project. 

Additionally, HFF secured debt financing for the partnership through United Bank.

  Loan proceeds were used to acquire the asset and will also be used to create a comprehensive renovation/repositioning of the property.

2144 California Street, NW is located within Washington, D.C.’s affluent Kalorama Heights neighborhood, four blocks north of Dupont Circle and three blocks east of Massachusetts Avenue’s Embassy Row.  

The building offers 360-degree views of the city and consists of mainly one-bedroom units.  Originally built in 1958, the property will undergo an extensive renovation of both individual units and common areas.

Charles Berman

The HFF equity placement team representing Fed City was led by director Brenden Flood along with senior managing directors Alan Davis and Dave Nachison, associate director Bret Thompson and real estate analyst Tim Stanton. 

HFF’s debt placement team representing Fed City and CBD, LLC was led by director Daniel McIntyre.  Managing member Nicholas Demas headed the Fed City team and CBD was represented by principals Chuck Berman and Tracey Appelbaum.

Founded by Nicholas Demas, Fed City develops, acquires and operates quality apartment communities, office buildings, luxury hotels and triple net retail.  

Fed City focuses on urban core and value-add opportunities with a particular focus on major metropolitan areas of the U.S. and specific markets in Europe.  For more information, please visit www.fed-city.com.

Founded in 2013 by Chuck Berman and Tracey Appelbaum, CBD LLC is a privately held investment manager specializing in the development and acquisition of rental apartments and mixed-use developments in urban locations from Boston to Washington DC with a particular focus in New York City.

Brenden Flood

  Their investors include a range of family offices and high-net-worth individuals seeking direct institutional quality equity real estate exposure.  CBD LLC actively participates in its joint ventures as a limited partner or co-general partner. 

 Mr. Berman and Ms. Appelbaum have specialized in the revitalization of urban and high density suburban areas. 

 Both have decades of real estate investment, development, construction and management experience.  Mr. Berman was a Managing Principal and Vice Chairman at MacFarlane Partners urban investment group and Ms. Appelbaum was a Principal responsible for investment and development activities on the East Coast. 

 Prior to that, Mr. Berman was Founder and President of Avalon Properties (NYSE REIT), a publicly-traded real estate investment trust that, through a subsequent merger, became AvalonBay Communities, one of the largest residential REITs in the United States.  

Mr. Berman served as President and Ms. Appelbaum served as a Vice President at AvalonBay.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

CCR Signs The Mortgage Council, LLC In New Lease Transaction

Allan Carlisle

North Palm Beach, FL — Bryan Cohen and Allan Carlisle of Cohen Commercial Realty, Inc. announced the signing of The Mortgage Council, LLC to lease space at Pavilion Law Center. Located north of Northlake Boulevard on Federal Highway, this center features office suites with floor to ceiling glass exterior and interior. Cohen Commercial Realty, Inc., represents the Landlord in this transaction.

CCR Signs Habitat for Humanity ReStore In New Lease Transaction

Greenacres, FL — Bryan Cohen, William Soled and Jason Guralnick of Cohen Commercial Realty, Inc. announced the signing of Habitat for Humanity ReStore to lease a 32,683- square-foot space at Mil Lake Plaza. Located on the northwest corner of Lake Worth Road and Military Trail, the plaza is anchored by Big Lots. Cohen Commercial Realty, Inc., represents the Landlord in this transaction.

CCR Limoncello Cucina In New Lease Transaction

Palm Beach Gardens, FL — Bryan Cohen and Chris Haass of Cohen Commercial Realty,

Inc., announced today the signing of Limoncello Cucina to lease a 3,656-square-foot space at City Centre. Located at 2000 PGA Boulevard, just west of US Highway 1, this center is already home to Carmine’s Crab Shack and Twisted Trunk Brewery. Cohen Commercial Realty, Inc., represents the Tenant in this transaction.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

Sale of Entitled Apartment Land in south Coast Plaza Town Center in Costa Mesa, CA Arranged by Marcus & Millichap

Rendering of planned development
at 580 Anton Boulevard
Costa Mesa, CA

COSTA MESA, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Michael Walseth and Nathan Holthouser, both members of the firm’s National Retail Group and National Land Group, have arranged the sale of a 25,000-square-foot shopping center located at 580 Anton Blvd. in the Town Center South Coast Plaza district of Costa Mesa, Calif.

The property is entitled for the development of 250 luxury apartment homes. The terms of the sale were not released.

Walseth and Holthouser advised the seller, a private investor. The buyer is a joint venture led by Legacy Partners.

“Located within Orange County’s cultural, financial and fashion epicenter, 580 Anton Blvd. is perhaps the most highly coveted multifamily development site to trade in Orange County in recent history,” says Walseth.

 “Our national marketing campaign generated more than 35 offers and interest from qualified developers and investors worldwide.”

“580 Anton Blvd’s development potential is excellent,” continues Walseth. “Recent rental rates at buildings located nearby have eclipsed $3.00 per square foot, evidence of the high desirability of residents to live within walking distance of South Coast Plaza Town Center, South Coast metro office buildings, and the Segerstrom Center for the Arts.”

Located on two acres at the northeast corner of Anton Boulevard and Avenue of the Arts in Costa Mesa, the planned development, 580 Anton Blvd., will consist of 250 units and an incremental amount of neighborhood-serving retail uses. 

The community will be constructed as a five-story “podium” design with more than 200,000 square feet of net rentable area. Construction is scheduled to commence in late 2015.

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

Gina Relva, Public Relations Manager

(925) 953-1716

Arbor Terrace Senior Housing Property Sold in Tampa, FL; DTZ Tampa’s Allen McMurtry Represents Seller

Megan Fetter

TAMPA, FL – DTZ, a global leader in commercial real estate services, announced that the team of Allen McMurtry, Megan Fetter and David Kliewer has arranged the $20 million sale of Arbor Terrace at Citrus Park on behalf of Citrus Park ALF, LLC.

Arbor Terrace was designed by Tampa architectural firm Chancey Design and developed by a joint venture between Tampa architect/developer Walt Chancey and Rookis Development Company based in Santa Rosa Beach, FL.

The project was pre-sold to Capitol Seniors Housing prior to breaking ground and the transaction closed upon certificate of occupancy.

 The property consists of 6.34 acres and 92 units – 52 assisted living, 14 transitional memory care and 26 memory care.

Allen McMurtry

Conveniently located at 13810 Sheldon Road in the heart of the Citrus Park neighborhood in Tampa, Arbor Terrace is situated in a prime location, allowing residents access to everything that Citrus Park and the greater Tampa Bay area has to offer.

 In addition to its excellent location, Arbor Terrace offers personalized engagement programs for each of its residents, focusing on their individual abilities and interests.

Since 1988, the Tampa-based DTZ Senior Housing team (formerly Cassidy Turley) has sold 160 Senior Housing communities in 31 states with an aggregate sales volume of $2 billion. The team’s average transaction size over the past decade exceeds $35 million.

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

Nicole J. Grzywacz

Marketing Manager | DTZ

4301 Anchor Plaza Parkway, Suite 400 | Tampa, FL 33634 | USA

Direct: 813-349-8545

nicole.grzywacz@dtz.com

  www.dtz.com

Lincoln Wins Management Assignments for Cobb Corporate Center and Northwoods Commons in Metro Atlanta

Shane Froman

ATLANTA, GA– Lincoln Property Company Southeast (Lincoln) has secured assignments to manage two office parks in metro Atlanta: Cobb Corporate Center in Marietta and Northwoods Commons in Norcross. 

Petrus Partners owns both properties; Lincoln received the leasing assignments for the parks in October 2014.

The 195,921-square-foot Cobb Corporate Center features five single-story buildings. Major tenants include Acuity Specialty Products, Data Systems Inc., Leviton Manufacturing, Willconsco and Avnet.

“There is a real vibrancy in Cobb stemming from the new Braves stadium, and we expect the momentum created by that project to have an extremely positive impact on the Cobb Corporate Center,” said Shane Froman, vice president of property management in Lincoln’s Atlanta office. 

“We at Lincoln are certainly very excited to be a part of what’s happening in that market.”

The 100,270-square-foot Northwoods Commons features three buildings, and its larger tenants include Bravepoint, Giant Intn’l USA and Johns Creek Family Physicians. 

Features include frontage on Peachtree Industrial Boulevard, 14-foot clear ceiling heights, and proximity to a variety of restaurants, banks, hotels and golf courses.

Northwoods Commons, Norcross, GA

“Cobb Corporate Center and Northwoods Commons will benefit tremendously from our ‘owner-centric’ approach to property management,” Froman said. 

“We are very excited about expanding the relationship already established with Petrus Partners on the leasing side to now include management services, and we greatly value this client and their trust in us.”

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

Savannah Duncan • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0870  • M: 404-901-4433

www.thewilbertgroup.com

http://www.twitter.com/savannahbduncan  http://www.linkedin.com/in/savannahduncan/

http://blog.lpcsoutheast.com.

HFF closes sale of power center in suburban Houston, TX

Green Tree Shopping Center, 231-515 South Fry Road, Katy, TX

HOUSTON, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Green Tree Shopping Center, a 147,658-square-foot, 99-percent-leased power center in suburban Houston.

Ryan West

HFF arranged the sale of the property on behalf of the seller, a TIC ownership group managed by Joseph and Henry Mandelbaum of RealTax, Inc.  Inland American Real Estate Trust, Inc. purchased the asset for an undisclosed amount.

Green Tree Shopping Center is occupied by national and regional tenants including TJ Maxx, PetSmart, Office Depot, Party City, Five Below, Ulta Salon, Famous Footwear, Mattress Firm, Bath & Body Works, GNC and Castle Dental.  The center is shadow-anchored by Target and Randall’s. 

Renovated in 2004, the Green Tree Shopping Center spans 21.6 acres at 231-515 South Fry Road in Katy, a suburb west of Houston and approximately 24 miles from the central business district.

  Located at the western edge of the Energy Corridor, the trade area has a population of more than 217,000 residents and an average household income exceeding $101,000. 

The HFF investment sales team representing the seller was led by managing director Ryan West, senior managing director Rusty Tamlyn, associate director Matt Berry and real estate analyst Robbie Kilcrease.

Rusty Tamlyn

“The timing of this transaction should be important for some to note,” West said.  “We took offers just prior to the rapid decline in the price of oil, yet recently closed at the initial pricing.

“ Capital continues to aggressively seek retail opportunities in Houston, and the sale of Green Tree Shopping Center is just one example of how the market is pricing through the energy discussion. 

"  In addition, there were several moving pieces including two new anchor leases in progress that we had to structure around but the cooperation of all parties involved allowed us to facilitate a successful transaction.” 

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

www.inlandamerican.com.

NAI Realvest Negotiates Five Leases for more than 29,000 rentable square feet at Monroe CommerCenters in Sanford, FL

Michael Heidrich

SANFORD, Fla. --- NAI Realvest recently negotiated industrial leases totaling 29,062 rentable square feet -- one at Monroe CommerCenter North and four at Monroe CommerCenter South.

Michael Heidrich, principal at NAI Realvest who heads the leasing and management at the Sanford industrial facilities, brokered the transactions on behalf of the landlords. 

At Monroe CommerCenter South, Gulf Industries Material Sales, LLC renewed their lease of 4,240 square feet and expanded into an additional suite with 4,320 square feet at 4265 Church St.;    

Eutek Sysems Inc. d/b/a Hydro International Wastewater is a new tenant that leased 2,000 square feet at 711 Progress Way;

Procom Services Inc. renewed the lease of 1,250 square feet at 4157 Flex Court; and

Philadelphia-based ARAMARK Refreshment Services Inc. renewed their lease of 10,000 square feet at 4186 Incubator Court. David Perez of Cushman & Wakefield represented the tenant ARAMARK.  The landlord is Monroe South SPE, LLC.

At Monroe CommerCenter North, American Lighting and Signalization Inc. renewed its lease of 7,252 square feet at 4200 Church St.  The landlord is Monroe North SPE, LLC.

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

Cohen Commercial Realty Signs Kumon Learning Center In New Lease Transaction in Boynton Beach, FL

Bryan S. Cohen

Boynton Beach, FL — Bryan Cohen, Allan Carlisle and Travis Langhorst of Cohen Commercial Realty, Inc. announced the signing of Kumon Learning Center to lease space at Boynton West Shopping Center.

Located on the northwest corner of Boynton Beach Boulevard and Military Trail, this center includes Bealls Department Store, Burlington Coat Factory, Einstein Bros. Bagels, Boston Market, SunTrust Bank and Pizza Hut.

 Cohen Commercial Realty, Inc., represents the Landlord, Kimco Realty Corporation, in this transaction.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

HFF closes $11.15 million sale of 148-room Hilton Garden Inn near Tampa, FL

Hilton Garden Inn Tampa North, 13305 Tampa Oaks Boulevard, Temple Terrace, FL

Dan Peek

TAMPA, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $11.15 million sale of the Hilton Garden Inn Tampa North hotel, a 148-key, limited-service hotel near the University of South Florida in Temple Terrace, Florida.  

HFF marketed the property on behalf of the seller.  Excel Group purchased the offering free and clear of debt. 

The Hilton Garden Inn Tampa North is located at 13305 Tampa Oaks Boulevard in Temple Terrace, a suburb 10 miles northeast of Tampa.

The hotel is three miles from the University of South Florida, six miles from Busch Gardens and has visibility from Interstate 75, one of Tampa’s main arteries, which is one block away.

 Completed in 2000 and renovated in 2013, the hotel features 6,458 square feet of meeting space, a fitness center, business center, outdoor pool and two dining choices, including the Great American Grill and the Pavilion Lounge.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, associate director Cyrus Vazifdar and real estate analyst Zach Nolan. 

Cyrus Vazifdar

“Tampa continues to be one of the fastest growing and most desirable hotel markets in the country, with significant institutional capital aggressively seeking opportunities,” Peek said.

 “The Hilton Garden Inn generated an overwhelming amount of interest, a testament to the long term outlook of the market.”

“This acquisition further marks the extension of our growth while adhering to a disciplined strategy of acquiring well-located, under-performing assets at a discounted basis,” added Shoham Amin, managing partner of Excel Group.

 “With this acquisition, our firm will have completed four acquisitions in Florida totaling $50 million in the first quarter of 2015.  We look forward to continuing this momentum throughout 2015 and expanding our partnership with HFF.”

Zach Nolan

During 2014, HFF’s Hotel Group closed more than $3.5 billion in hotel transactions across all capital markets involving more than 100 hotels and resorts.  

The firm is particularly active in Tampa Bay’s coastal region, where it has recently closed transactions on hotels including the Hilton Clearwater Beach, Sandpearl, Hyatt Clearwater Beach, Sheraton Sand Key and the Residence Inn Clearwater.

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

www.excelgp.com

HFF closes sale of 2-property Ace Self-Storage portfolio in Upstate New York

                              

Barbara Guffey

HOUSTON, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a two-property Ace Self Storage portfolio totaling 630 units and 95,878 rentable square feet in upstate New York.

HFF marketed the portfolio on behalf of the seller, Real Estate Technology.  World Class Capital Group, LLC purchased the assets as their first self storage acquisition into the New York market. 

The 94.8-percent-occupied portfolio is comprised of a 388-unit property located at 735 and 765 South Street in Newburgh and a 241-unit facility at 1594 Route 9G in Hyde Park, New York. 

Three buildings – two self-storage buildings and one warehouse leased to three commercial tenants – comprise the Newburgh property, which is located just south of Interstate 84 off of Exit 5B in a community on the Hudson River 60 miles north of New York City. 

The Hyde Park property includes eight buildings and a stand-alone management office.  The asset is situated between Partridge Hill Road and Deer Hill Road on Route 9G in a residential community located between New York City and Albany.  Additionally, the Hyde Park property has 12 RV parking spaces.

Ace Storage, Hyde Park, NY

  Both properties include climate and non-climate controlled units and on-site management.

  The buyer plans to expand the facilities to add additional units.  

The properties will be rebranded and managed by Great Value Storage, the firm’s wholly-owned storage management platform.

The HFF self storage team representing the seller was led by director Barbara Guffey.

“The portfolio appealed to the buyer since it was stabilized with a strong cash flow stream, and offered expansion opportunities at both locations,” Guffey said. 

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

www.wccapitalgroup.com

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