Maury L. Carter & Associates Closes Over $143 Million in Florida Land Deals Since 2012

Maury L. Carter (left) and Daryl Carter

 ORLANDO, FL -- Maury L. Carter & Associates, Inc. is pleased to announce the following commercial transactions:

Daryl M. Carter, Trustee of Carter-Lake Hart Land Trust, sold approximately 11 acres on the east side of Narcoossee Road in Orange County, Florida. The property was sold to Lake Hart Storage, LLC for $1,782,720. Daryl M. Carter represented the seller, and Stan Pietkiewicz represented the buyer.

Daryl M. Carter, Trustee of Carter-Flagler US 1 Matanzas Land Trust, purchased approximately 19 acres on US 1 in Flagler County, Florida. The property was acquired from Florida Landmark Communities, LLC for $1,800,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. and Jeffrey R. Douglas with Douglas Property & Development, Inc. represented the buyer, and Palm Coast Holdings, Inc. represented the seller.

John Reich

Daryl M. Carter, Trustee of Carter-Orange 67 Hwy 441 Land Trust, purchased approximately 67 acres on Hwy 441 in Apopka, Orange County, Florida. The property was acquired from Florida Bank of Commerce for $825,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the buyer, and John Reich with Reich Properties represented the seller.

          

Joe McKinney with Maury L. Carter & Associates, Inc. represented the seller in the $625,000 sale of 1.14 acres on North Hancock Rd in Lake County. Clint Murphy with Murphy Land and Retail Service represented the buyer in the transaction.

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented Chester C. Fosgate Company in the $3,100,000 sale of 3 commercial parcels at the intersection of Progress Blvd and Falkenburg Rd in Tampa, Florida. The parcels totaling 30.75 acres, were sold to Sadyne Investments, LLC. Florida Executive Brokers, LLC represented the buyer in the transaction.

Since January of 2012, Maury L. Carter & Associates, Inc. has completed over $143,000,000 in transactions on 15,178 acres of land.

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

Stepp Commercial Completes $2.5 Million Apartment Property Sale in Santa Monica, CA

Kimberly Roberts Stepp

Santa Monica, CA, Aug.10, 2015 – Stepp Commercial, a leading multifamily brokerage firm in the Santa Monica market, has completed the $2.5 million sale of fully occupied, six-unit apartment property located at 1820 12th St. in Santa Monica.

Kimberly Roberts Stepp, principal with Stepp Commercial, represented the seller, a Los Angeles-based private investor. 

The buyer, Los Angeles-based 126 Company, was represented by MYI, Inc. The closing cap rate was an extremely low 3 percent and a per-unit price of $417,000.

Built in 1973, the property includes one, three-bedroom unit; and five, two-bedroom units.

“This property presented the buyer with an opportunity to reposition and add value to the asset which is situated on a quiet, tree-lined street that is undergoing a favorable amount of revitalization,” said Stepp.

“There are new condo developments that recently completed across the street and next door to this asset. This bodes well for property appreciation, as more capital flows into this well-located neighborhood.”

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

Darcie Giacchetto

949.278.6224

HFF secures $14.25 million financing for 131-unit multi-housing property in suburban Denver, CO

Josh Simon

DENVER, CO, Aug. 10, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $14.25 million in financing for the Phenix at Infinity Park II, a 131-unit, newly-renovated multi-housing property in Glendale, Colorado.

Working on behalf of Slipstream Properties of Glendale, Colorado, HFF placed the five-year, 4.36 percent, fixed-rate loan with two years interest only, followed by a 30-year amortization schedule with a CMBS lender.

 Loan proceeds were used to refinance the borrower’s acquisition and renovation bank loan, and to recapture a significant portion of its initial equity.

The Phenix at Infinity Park II is located at 4747 East Mississippi Avenue and 1001 South Dahlia Street approximately five miles southeast of downtown Denver.

 The HFF debt placement team representing the borrower was led by Josh Simon.

“The capital markets were very responsive to this financing request given the sponsor’s strong track record and the extensive investment in renovations at the property,” said Simon.  “We were able to accomplish the borrower’s goal of recapturing a majority of their equity despite a limited stable operating history.”

Peter Eklund with Slipstream Properties added, "Working with HFF enabled us to evaluate the full spectrum of debt offerings and select the one, which satisfied the bulk of our priorities.  The HFF team worked on our behalf to ensure a smooth close on a complex transaction."

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

Berger Commercial Realty Brokers Close Sale of Court Park in Fort Lauderdale, FL for $960,000

Judy Dolan

FORT LAUDERDALE, FL (August 10, 2015) - Berger Commercial Realty brokers Judy Dolan and St. George Guardabassi recently facilitated the sale of a 3,440-square-foot free-standing office building located at 212 SE 8th S. in Fort Lauderdale.

Dolan and Guardabassi represented Court Park, Inc. in the sale of the property for $960,000 to Jerome Koomen of New River Executive Center, LLC.

Koomen functions as managing partner and advertising director of JWK Media Group and plans to use the building as a workplace for the print and digital advertising sales firm, which focuses on the pharmaceutical, insurance and financial industries.

Located on a 14,000-square-foot lot within walking distance of the Broward County Court House, the property features onsite parking, two HVAC units, accordion storm shutters on windows and multiple offices in varying sizes and layouts.

 It is situated in central downtown Fort Lauderdale between Andrews Avenue and S.E. 3rd Avenue with convenient access to US1, State Road 84, S.E. 17th Street, Davie Boulevard and Broward Boulevard. 

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Arbor Appointed as Freddie Mac’s Latest Seniors Housing Lender

Ivan Kaufman

UNIONDALE, NY (Aug. 10, 2015) – Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, today announced that is has been appointed as Freddie Mac’s newest Seniors Housing Lender.

  

“We are pleased to be able to partner once again with Freddie Mac, and this time as its newest seniors housing lender,” said Ivan Kaufman, Arbor’s Chairman and CEO.

 “With this loan product, we have significantly elevated our growing Seniors Housing and Healthcare Financing group and established it as one of the leading and most comprehensive sources for financing in the industry.

“This latest announcement also reflects a rapidly growing relationship between Arbor and Freddie Mac, one that began only 15 months ago with our Freddie Mac Program Plus® Seller/Servicer and then our Freddie Mac Small Balance Loan approval.

“We look forward to building upon the momentum our new partnership with Freddie Mac has produced and delivering the best financing solutions available for our clients.”

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

Christopher Ostrowski

costrowski@arbor.com

Marcus & Millichap Elects Nine Senior Vice President Investments

  

CALABASAS, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has named nine senior vice president investments, according to John J. Kerin, president and CEO.

      “The senior vice president investments designation is one of the highest achievements a Marcus & Millichap investment professional can attain,” says Kerin.

John J. Kerin

“This newly designated class of senior vice presidents investments, all previously first vice presidents investments, have demonstrated exemplary leadership and excellence in investment property sales, and are truly meritorious of this honor.”

       The 2015 senior vice president investment promotions were awarded to:

·         Eduardo U. Cerna, a multifamily specialist in Palo Alto, Calif.

·         Jerry Goldstein, a retail specialist in Houston, Texas

·         Douglas K. Mandel, an office & industrial specialist in Fort Lauderdale, Fla.

·         Richard J. Ringer, a multifamily specialist in West Los Angeles, Calif.

·         Steven J. Siegel, an institutional retail and net-lease specialist in Manhattan, N.Y.

·         Mark Taylor, an institutional retail and net-lease specialist in Philadelphia, Pa.

·         Dean Zang, an institutional retail and net-lease specialist in Washington, D.C.

·         Christopher J. Zorbas, an institutional multifamily specialist in San Diego

·         Alex D. Zylberglait an office & industrial specialist in Miami

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

Gina Relva

Public Relations Manager

(925) 953-1716

Sale and financing of Energy Square in Dallas, TX closed by HFF

Energy Square,  4925 and 4849 Greenville Avenue and 6688 N. Central Expressway
Dallas, TX

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Energy Square, a three-building, 948,678-square-foot, Class A office project in Dallas, Texas. 

Southern Methodist University

HFF marketed the property on behalf of the sellers, Lincoln Property Company, Champion Partners and Long Wharf Real Estate Partners.

  Energy Square was purchased by a partnership between GlenStar Properties and USAA Real Estate Company.  

The new owner was also assisted in securing floating-rate financing through Wells Fargo Bank by HFF.

Energy Square consists of a 10.3-acre site containing three buildings, One, Two and Three Energy Square, plus an approximately one-acre development site zoned for mixed-use development. 

Grub Burger Bar Restaurant, Dallas, TX

Recently renovated, the LEED Gold and Energy Star-rated properties feature a fitness center, three conference centers, multiple food service options, Grub Burger Bar restaurant, an outdoor plaza featuring seating and putting greens, and direct access to the DART Light Rail.

 Energy Square is 82 percent leased to tenants including New York Life Insurance Company, Davaco, and Advanced Homecare.

 Located at 4925 and 4849 Greenville Avenue and 6688 N. Central Expressway respectively, Energy Square is just off the North Central Expressway near Southern Methodist University north of downtown Dallas. 

 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.lwrep.com

www.usrealco.com.

www.championpartners.com

HFF closes sale of Class A office building in Parsippany, NJ

                      

Halsey Corporate Center, 90 East Halsey Road, Parsippany, NJ

 

Jose Cruz

FLORHAM PARK, NJ –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Halsey Corporate Center, a 100,000-square-foot, Class A office building located at 90 East Halsey Road in Parsippany, New Jersey.

HFF marketed the property on behalf of the seller, Stockbridge Capital Group, LLC and procured the buyer, Boxer F3 LLC, with Boxer Investment Management as its manager.

Halsey Corporate Center features a three-story, glass-enclosed atrium lobby and a full-service cafeteria. 

 The building is leased to eight companies, including Chemtrade.  The property is less than one mile south of Interstate 80 with immediate access off of Interstate 287.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, associate directors Michael Oliver and Stephen Simonelli and supported by senior managing director Andrew Scandalios.

Kevin O'Hearn

“Investors continue to search for office assets where they can add a significant amount of value through lease-up and expense management,” Cruz said. 

 “90 East Halsey provides flexible floor plates and very good highway access, which is why we had multiple bids for the asset.”

"I am excited for Boxer to continue to grow its presence in the New Jersey market with such a high quality building,” director of acquisitions for Boxer Property Brad Nichol said.

 “The building presents a stable platform and a great opportunity for Boxer to increase value through our attentive management and leasing teams with a variety of available office suites from 1,000 to 36,000 square feet.”

 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.stockbridgerealestate.com.

www.BoxerProperty.com.

HFF closes sale of YouTube Headquarters in San Bruno, CA

You Tube Headquarters, 900 and 1000 Cherry, San Bruno, CA

SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 900 and 1000 Cherry, a two-building, core-quality, Class A office campus that functions as the world headquarters for YouTube in San Bruno, California.

HFF marketed the property on behalf of the seller, a fund managed by Cornerstone Real Estate Advisers.    

Steven Golubchik

900 and 1000 Cherry are situated on 8.15 acres within the Bayhill Office Park, directly adjacent to Interstates 280 and 380 in the Bay Area city of San Bruno. 

This location has immediate access to U.S. Highway 101 and Highway 82 and is close to the San Francisco International Airport as well as the San Bruno BART and Caltrain stations, providing access to the entire San Francisco Bay Area.  

Both properties are 100 percent leased to Google through 2022 and serve as YouTube’s world headquarters.

 As such, the properties feature highly improved video/audio suites, high-end office finishes featuring a variety of creative spaces and conference rooms, and a one-of-a-kind “Immersion Room”, which simulates a 360-degree video stream. 

The six- and three-story buildings also offer tenants two full-service cafeterias, kitchen/pantry suites with lounge areas on each floor, a fitness center with lockers and showers, bike room with storage, and a multi-functional conference room for corporate events and executive retreats. 

The HFF investment sales team representing the seller was led by senior managing director Steven Golubchik.

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.cornerstoneadvisers.com.

HFF arranges $10.15 million acquisition financing for Dallas-Fort Worth area neighborhood retail center

Ruisseau Village, 3303--3309 North Central Expressway, Plano, TX

 

Kevin Mackenzie

IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $10.15 million in first lien financing for the acquisition of Ruisseau Village, a 124,567-square-foot neighborhood retail center in Plano, Texas.

HFF worked on behalf of the borrower, a private real estate investor, to place the 10-year, fixed-rate loan through Morgan Stanley Bank, N.A. 

Located at 3303-3309 North Central Expressway, Ruisseau Village is situated on 12.615 acres in Plano, the fourth largest city in northern Texas.

 The center is positioned at the northwest corner of West Parker Road and North Central Expressway, which connects Plano to downtown Dallas and is one of the main thoroughfares in the Dallas-Fort Worth Metroplex. 

Ruisseau Village is near numerous residential neighborhoods and is three miles south of CityLine Plaza, a new 2.3 million-square-foot mixed-use residential, retail and hotel development that is being constructed. 

Renovated most recently in 2014, the center consists of two single-story buildings leased to Top Golf, Hertz, Boxes to Go, Monarch Dental, Jazzercise, Kelly Moore Paints, The Mum Shop, Rover Dramawerks and a variety of restaurants, including Bavarian Grill and A-Star Buffett.  The center is shadow-anchored by Burlington Coat Factory.

Greg Brown

The HFF debt placement team representing the borrower consisted of senior managing director Kevin Mackenzie, associate director Greg Brown and director Jim Curtin.

“We were very happy to secure excellent fixed-rate financing terms on behalf of our client during a tumultuous time in the capital markets,” Brown said.  

“HFF worked closely with the lender in order to provide the structure needed for the borrower to execute its business plan and closed per the terms in the initial application despite market volatility.”

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

Four-campus office portfolio in San Diego, CA trades for $258 million via HFF

  

Governor Pointe Campus, 6200 and 6220 Greenwich Drive, San Diego, CA

 

Nick Psyllos

SAN DIEGO, CA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $258 million sale of four office campuses totaling nine buildings and 933,134 square feet in San Diego, California. 

HFF marketed the sale on behalf of Kilroy Realty Corporation. 

The office portfolio consists of Sequence Technology Center, 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge, 10770 Wateridge Circle; Sorrento Gateway, 4921 Directors Place; and Governor Pointe, 6200 and 6220 Greenwich Drive.

The properties were 83 percent leased as of their respective closing dates and include two- and three-story office buildings located in central San Diego’s Sorrento Mesa and Governor Park office submarkets in the hearts of San Diego’s technological centers. 

Two of the nine buildings were vacant as of July, and the remaining seven buildings were leased to tenants in technology-based industries.

The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos and Ryan Gallagher, senior managing director and co-head of both the San Francisco office and HFF’s national office investment sales platform Michael Leggett and director Nick Frasco.

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.kilroyrealty.com.

Berger Commercial Realty Closes Three New Leases at Deerfield Beach Enterprise Commerce Center Totaling More Than 55,000 Square Feet

Roxanna Collins

FORT LAUDERDALE, FL  - Broker Associate Roxanna Collins of Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently closed three new leases totaling 55,855 square-feet of industrial space on behalf of landlord Mancini & Sons Florida.

 The transactions were for spaces within the Enterprise Commerce Center, located at 1901 Green Road in Deerfield Beach.

 Collins successfully closed:

the new lease of 26,925 square-feet to Farm Fresh Packers, LLC in bays A, B, and C;

the new lease of 20,171 square-feet of space to USP Motorsports, Inc. in bays E and F;

and the new lease of 8,759 square-feet of space to BDI-USA, Inc.

The 76,381-square-foot Enterprise Commerce Center includes industrial, warehouse, and flex space. The new leases bring the building to 88 percent occupancy.

Enterprise Commerce Center, Deerfield Beach, FL

The building features 24-foot ceilings, dock-level doors, tilt-wall concrete construction and a wrap-around glass front façade.

 It is located on the Wiles Road extension and is within minutes of major highways, shopping, and restaurants.

 The building is a part of a portfolio consisting of 220,667 square-feet in Broward County that is managed and leased exclusively by Berger Commercial Realty. 

Collins currently oversees leasing for the portfolio. For more information about leasing at Enterprise Commerce Center, call (954)-358-0900.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

McGrath Family Sells Legacy Asset in San Diego, CA

McGrath Family Retail Portfolio, San Diego, CA

San Diego, CA  -- The McGrath Family, known in San Diego as pioneers in construction and real estate, have announced the sale of a portion of their retail portfolio encompassing 294,428 square feet in the Kearny Mesa submarket of San Diego, California to a commingled fund managed by Clarion Partners, working with existing partner HP Investors, LLC. 

The portfolio was 100% leased at the time of the acquisition.

The McGrath Retail Portfolio is located along Clairemont Mesa Boulevard and Shawline Drive, just off of Interstate 805.

Randy LaChance

The portfolio, which is situated on 29.07 acres and comprised of six single-tenant leased retail properties and one retail strip center, is tenanted with some of the most sought after national retailers in the market, including Wal-Mart, LA Fitness, McDonald’s, Food 4 Less, Starbucks, Verizon, and Chipotle, among others.

 “The timing was right for this sale and it worked for us in terms of our long-term goals,” said Laurie McGrath, President of McGrath Development, Inc.

“While real estate development has been challenging, fun and certainly rewarding, we have other things that we would like to accomplish. Our larger goal will be growing our Foundation as well as pursuing redevelopment of some of our other properties.”

The McGrath family has owned the land on which the McGrath Retail Portfolio is situated since the late 1940s.  

In 1990, McGrath broke ground on the development of the McGrath Center, a 50 acre mixed-use project originally approved to include 1,500,000 square feet of office, retail and R & D uses. 

The plan was later revised to include mostly retail uses and a 100,000 square foot industrial “flex” building.  

Mark Caston

Randy LaChance, Senior Vice President, SIOR and Mark Caston, Senior Vice President, both of Voit Real Estate Services, represented the seller, McGrath.

“There is a tremendous pride of ownership that is evident in this portfolio,” said Randy LaChance. “I’ve had the opportunity to work with the McGrath family for 25 years, and I’ve seen the fine quality and attention to detail that they put into their assets.”

LaChance continues, “For prospective buyers, this was a once-in-a-lifetime opportunity to acquire a large retail portfolio in central San Diego. 

"We garnered tremendous interest and activity throughout the sale process, and ultimately identified a buyer that the McGrath family felt would continue the legacy of this special project.”

“This is a core real estate asset in San Diego.  It has maintained an occupancy of over 97% since 2001.  The portfolio has a great mix of credit tenants from the big box tenants to the in-line space,” added Caston, Voit’s retail leasing expert.

Clarion Partners, a real estate investment manager headquartered in New York, together with San Diego based HP Investors, acquired the retail portfolio for $107.15 million on behalf of one of its commingled funds.  The Clarion / HP team represented themselves in the transaction.

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

Jenn Quader

Brower, Miller & Cole

(949) 955-7940

jquader@browermillercole.com

www.voitco.com.

www.hpinvestors.com

info@hpinvestors.com

www.clarionpartners.com.

NAI Realvest Negotiates $300,000 Sale of 22+ Acres of Agricultural Land in Mount Dora, FL

  

Jason G. Toll

MOUNT DORA, FL — NAI Realvest recently negotiated a $300,000 sale price for 22.16 acres of agricultural land on Round Lake Road in Mount Dora. 

Jason G. Toll, director of industrial services at NAI Realvest, negotiated the transaction on behalf of the seller Susan K. Bird of Fernandina Beach, Fla.

Orlando-based Daryl M. Carter, Trustee, is the buyer who purchased the property for future residential development.  

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

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

Rhodes+Brito Architects awarded contract to renovate Orange County Convention Center in Orlando, FL

Orange County Convention Center
Orlando, FL

ORLANDO, FL --- Rhodes+Brito, an Orlando architectural firm, was recently awarded a contract for a major renovation project at the Orange County Convention Center.

Max Brito, co-founder and partner at Rhodes+Brito, said the renovation, which will start Sept. 1, has been estimated to cost $5 million. 

Renovation work will include lighting, mechanical projects and interior finishes, Brito said.   The project will involve converting meeting rooms into offices, he added.

Rhodes said Rhodes+Brito was also awarded a continuing architectural services contract with Orange County.  The contract covers miscellaneous design services Rhodes+Brito will provide the County, including original design and renovations work not to exceed $2 Million.

That contract is slated to begin this October.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including seven registered architects. The firm has exceptional experience providing architectural services to a wide variety of agencies thorough the state of Florida, including municipal government agencies, federal, education, aviation and senior living facilities.

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

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