Hold-Thyssen Negotiates Five New Leases at Kirkman and Edgewater Commerce Center in Orlando, FL

Alex Rowlinson

WINTER PARK, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated five new leases for 11,287 rentable square feet of flex space at Kirkman and Edgewater Commerce Centers in Orlando.

The Hold-Thyssen leasing team of Troy Stevens and Alex Rowlinson negotiated the transactions at both centers representing the landlord, a South Florida investor.

ATF CrossFit, leased 6,022 square feet at 701 S. Kirkman Rd. in Kirkman Commerce Center for three years.  Another lease at Kirkman Commerce Center was a smaller 723 square feet for one year but the deal was executed the day of initial meeting and tenant Allied Trucking of Florida started doing business the following day. 

  Also in December at Kirkman Commerce Center one year leases were signed by Crash Marketing Corporation for 542 square feet and Florida Corporate Branding, 2,400 square feet.

At Edgewater Commerce Center, 6250 Edgewater Drive, Florida Interlock Inc. leased 1,600 square feet for five years.  

The Hold-Thyssen team signed up all five new tenants after these properties were sold earlier this fall to a new South Florida investor owner. 

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

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

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Berger Commercial Realty Secures More Than 50,000 Square-Feet of Lease Transactions Throughout South Florida

 

Roxanna Collins

FORT LAUDERDALE, Fla. (December 30, 2015) – Berger Commercial Realty brokers Joseph Byrnes, Roxanna Collins, Robert Dabrowski, John Forman, Keith Graves, Greg Milopoulos, and Jonathan Thiel recently closed lease transactions totaling a combined 50,332 square-feet of space throughout South Florida.

Sterling Business Center

Collins represented Mancini and Sons Florida #2 in renewing 2,432 square-feet of industrial space to Limitless Strength and Conditioning, LLC at the Sterling Business Center in Deerfield Beach. Located at 5051 N.W. 13th Ave. between Powerline and Green roads, the property consists of two buildings that total more than 48,000 square-feet of space and feature glass-front façades, 18-foot clear ceiling heights, tilt wall concrete construction, overhead drive-in shipping doors, exterior building maintenance and ample parking.

Joseph Byrnes

Prologis I-595

Graves and Milopoulos represented Prologis-North Carolina Limited Partnership for the renewal and expansion lease of 22,610 square-feet of industrial space to Encompass Supply Chain Solutions, Inc. at Prologis I-595. Located at 7060 State Road 84 in Davie,

Delray Office Plaza

Byrnes and Dabrowski represented Delray Office Plaza landlord Atlantic Properties & Investments, LLC in the renewal and expansion lease of 10,076 square-feet of office space to CS Media Solutions, LLC; the renewal of 4,731 square-feet of office space to 3M Company and the expansion lease of 1,205 square-feet of office space to LA Consulting and Counseling, LLC. The property is at 4733 W. Atlantic Ave. in Delray Beach.

Woolbright Professional Building

Additionally, Byrnes and Dabrowski represented Woolbright Properties & Investments, landlord of the Woolbright Professional Building, for the renewal of 2,668 square-feet of office space to Extra Space Management in suite 219 and the new lease of 1,262 square-feet of office space to Advance Title Solutions in suite 413. The property is at

2240 W. Woolbright Road in Boynton Beach,

Robert Dabrowski

Cypress Creek Tower

Graves and Thiel represented Cole International Investments, LLC in leasing 2,054 square-feet of office space to Converged Services, Inc. at Cypress Creek Tower in Fort Lauderdale. The property is at 800 W. Cypress Creek Road just west of I-95.

361 S.W. 13th Ave.

Forman represented MMJ Electric, Inc. in leasing 2,000 square-feet of industrial space from Zedick Properties, LLC at 361 S.W. 13th Ave. in Pompano Beach.

Toral Professional Building

Graves and Thiel represented Allegheny Millwork in leasing 1,294 square-feet of office space from Toral Professional Building, LLC at 4780 S.W. 64th Street in Davie.

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

954-776-1999

Pierson Grant Public Relations

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

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

RealtyTrac Analyzes Residential Rental Affordability in 2016

 

IRVINE, CA -- RealtyTrac analyzed recently released rental data from HUD, wage data from the BLS along with public record sales deed data we collect in 504 counties with a population of at least 100,000 and found the following regarding rental affordability in 2016.

Highlights in the report:

·         It is more affordable to buy than to rent in 58 percent of the 504 counties (with a 3 percent down payment).

·         Rents are rising faster than wages but slower than home prices

o   Rents on 3-bedroom properties in 2016 up 3.5 percent on average from 2015

o   Average weekly wages up 2.6 percent year-over-year

o   Median home prices up 5.0 percent year-over-year

·         Most affordable and least affordable rental markets for average wage earners

o   Across all 504 counties average rent requires 37 percent of average wages

o   Top five least affordable counties for renters are in Honolulu, Washington, D.C., New York City (Brooklyn), and Northern California metros of Salinas, Santa Cruz and San Francisco. Average rent requires more than 60 percent of average wages in all five least affordable counties.

·       Top five most affordable counties for renters are in Huntsville, Alabama; Peoria, Illinois; Davenport, Iowa; Atlanta; and Pittsburgh. Average rent requires 25 percent or less of average wages in all five most affordable counties.Boston Bruins 1950-51 Roster

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

 Jennifer von Pohlmann

 Sr. Data PR Manager

 Office: 949.502.8300 ext 139

 jennifer.vonpohlmann@realtytrac.com

Wyndham Hotel Group Brings Flagship Brand to Argentina; Reaches 35th Hotel in the Country

Paulo Pena

BUENOS AIRES, ARGENTINA – Building on more than 16 years of experience in Argentina, Wyndham Hotel Group announced the debut of its namesake brand, Wyndham Hotels and Resorts®, in Argentina with the opening of the 141-room Wyndham Nordelta Tigre Buenos Aires.

"Famous for its culture, customs, geography and cuisines, Argentina continues to be a favorite destination for global travelers and a key market for Wyndham Hotel Group,” said Paulo Pena, president and managing director for Wyndham Hotel Group in Latin America and the Caribbean.

 “Adding our world-renowned upscale brand to the country complements our existing portfolio of 34 hotels, which not only includes the Ramada and TRYP by Wyndham brands, but also the largest network of Howard Johnson hotels in Latin America, and the award-winning global Wyndham Rewards loyalty program. ”

  

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

Paula Carreiro

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-7927

paula.carreiro@wyn.com

112 acres of industrial development land in Lakeland, FL Sold; Buyer plans to develop Class A distribution centers

  

 

Dolores Seymour

LAKELAND, FL  (Dec. 29, 2015)  – As the I-4 corridor continues to be a prime focus for industrial development, a 112-acre land parcel located at I-4 exit 38 near Florida Polytechnic University has sold.

 The buyer plans to build Class A distribution centers to accommodate companies that require 200,000 to over 1 million square feet of space. 

This is the largest speculative industrial project in Lakeland in nearly a decade.

The seller, RG-Lakeland LLC, an entity of New York-based The Rockefeller Group, was represented by Edward Miller, CCIM, SIOR; Dolores Seymour, CCIM, MCR, SIOR; and Deborah Mickler, CCIM, SIOR of Colliers International Tampa Bay.

The buyer is Big Acquisitions LLC, an entity of Brennan Investment Group, a private real estate investment firm based in Rosemont, Ill.

Deborah Mickler

Brennan Investment Group acquires, develops and operates industrial properties nationwide, and previously worked on the development of a nearby land parcel off I-4 that is now successfully operating as First Park at Bridgewater. That park is fully occupied at over 2 million square feet.

“This is a massive project for Lakeland and a significant endorsement for the I-4 corridor,” said Colliers’ Miller. “This development together with recent market activity confirms Lakeland’s place as a growing distribution market of national importance.”

The land is located at 3401 Old Polk City Road in Lakeland, near I-4 Exit 38.

 

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

Leah Saunders 

Senior Account Executive

B2 Communications

p 727.895.5030 x104 | c 813.924.0367

www.B2Communications.com

HFF closes $165.4 million sale of 12-property Mid-Atlantic apartment portfolio

 

Jose Cruz

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a 12-property apartment portfolio totaling 2,811 units located in New Jersey, Pennsylvania and Delaware. 

HFF marketed the offering exclusively on behalf of the seller, AIG Global Real Estate Investment Corp.  An undisclosed buyer purchased the portfolio for approximately $165.4 million free and clear of existing debt.  

This transaction represents the largest multi-housing sale of 2015 in New Jersey, according to Real Capital Analytics.

The well-leased, garden-style communities offer a mix of one-, two- and three-bedroom units averaging approximately 800 square feet in size.  

Amenity packages vary by community but include fitness centers, swimming pools, tennis courts, playgrounds and dog parks.  

Several of the properties have undergone interior unit upgrades with proven rental premiums.  Seven of the properties are located New Jersey; three in Pennsylvania; and two in Delaware.

Andrew Scandalios

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

“We had a significant amount of interest on these assets given their upside potential and given the size of the portfolio,” stated Cruz.  “The buyer performed very well and on-time given the complexity of the deal.”

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 Negotiates Sale of Office Building on Maitland Ave. in Altamonte Springs, FL for $205,000

   

 

Chris Adams

 ORLANDO, FL – NAI Realvest recently negotiated the $205,000 sale of a single-story, stand-alone office building located at 657 Maitland Ave. in Altamonte Springs. 

Chris Adams, associate at NAI Realvest negotiated the transaction representing the seller, Habib Properties Florida LLC based in West Branch, Michigan. 

The building, with 1,518 useable square feet, was purchased by Winston A.R. McClean PA for its law practice.     Mike Phillips of Keller Williams represented the buyer.

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

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

Marcus & Millichap Arranges Sale of Logan’s Roadhouse in Orlando, FL for $3.8 million

Logan's Roadhouse Restaurant, 3060 West Sand Lake Road, Orlando, FL

Barry M. Wolfe

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Logan's Roadhouse, a 7,995-square foot net-leased property located in Orlando, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $3,800,000 equating to $475 per square foot.

Barry M. Wolfe, a first vice president investments, Alan Lipsky, an associate, and Howard Bregman, a senior associate, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Toronto, Canada. The buyer was a limited liability company from Miami.

“Strong investor demand for triple-net-leased Orlando properties has created bidding competition and allowed the average sales price per square foot to rise 2.9 percent to $390 per square foot over the past year. This is nearly 25 percent higher than other Florida metros and more than 50 percent higher than the U.S. average,” says Bregman.

“We received multiple offers on Logan’s Roadhouse and it ultimately traded at $475 per square foot,” says Lipsky. “The restaurant is located in a busy retail corridor and has more than 14 years remaining on its lease. It’s an excellent long-term investment for the buyer.”

The 7,995-square foot restaurant was built in 1999. Logan's Roadhouse is located at 3060 West Sand Lake Road.  It is less than six miles from SeaWorld and Universal Studios, 10 miles from Walt Disney World and 11.5 miles from Orlando International Airport..

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

  Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

PM Hospitality Strategies, Inc. Announces the Opening of Hampton Inn & Suites by Hilton Washington, DC--Navy Yard

Joseph Bojanowski

  WASHINGTON, DC, Dec. 29, 2015—Officials of PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company, today announced the opening of the 168-room Hampton Inn & Suites by Hilton Washington, D.C.-Navy Yard.

Located at 1265 First Street SE, in the heart of our nation's capital, the hotel is well positioned near iconic monuments, national parks and one block from the metro station where access to Capitol Hill, The White House and the National Mall areas are readily available.

            "In addition to our five, recently announced management agreements throughout Pennsylvania, the Hampton Inn & Suites by Hilton Washington, D.C.-Navy Yard keeps us on pace to have one of our most active years in our history," said Joseph Bojanowski, president of PMHS.

"Washington, D.C., which receives approximately $1.9 billion from tourists on lodging annually, also happens to be our headquarter location, making this a particularly gratifying addition to our growing portfolio of third-party management contracts with reputable owners of well recognized and respected hotel flags.” 

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

Sonia Abdulbaki, media

  (703) 435-6293

  sonia@dalygray.com

www.pmhs.com.

JLL Reports Rising Rents and Industry Expansion Push Technology Firms To Key Growth Markets

Julia Georgules

PHOENIX, AZ,  Dec. 28, 2015 – According to JLL’s 2015 United States Technology Office Outlook, technology firms and startups aren’t just exploring new U.S. markets, they’re starting to plant roots.

Over the past year, 73 percent of the sector’s office leases represented occupancy growth. 

With Northern California holding nine of the top 15 most expensive in-demand technology submarkets—led by Downtown Palo Alto at $98.68 per square foot—tech firms are looking to other zip codes to fuel their future.

Expansion for the technology industry in 2015 is no longer just about the convenience of cheaper rents or accessing new talent pools. It’s a strategic necessity.

“Technology companies and startups need to look at a full range of options as part of their location strategy,” said Steffen Kammerer, leader of JLL’s Technology Practice group. “These companies have to grow.

“They can still hold a headquarters in the Bay Area, but their offices in secondary or tertiary markets can sometimes support larger staffs or hold just as much strategic importance to their business plans. We’re seeing this now more than ever.”

Fortunately, according to JLL’s report, the same economic forces that are pushing rents higher along familiar Northern California streets like Sand Hill Road and Hamilton Avenue—which at $141.60 and $124.44 per square foot respectably are the most expensive in the United States—are making it possible for the sector to spread the wealth into markets like Atlanta, Detroit, Orlando and Phoenix.

 In the past year, 34 technology companies expanded into new locations across 19 markets with more than 2.1 million square feet of office space.

Steffen Kammerer

“Other markets are not competing against Silicon Valley. They’re competing to be more like Silicon Valley,” said Julia Georgules, Director of U.S. Office Research for JLL. “Technology has become so pervasive in business that it’s now becoming a part of every industry and every market.

“This is generating a new momentum and energy in smaller markets and making them attractive to the type of talent that the technology industry is recruiting. It’s not necessary to be located in San Francisco or Silicon Valley anymore as a result, although you’ll still find great opportunity in those markets.”

Venture capitalists are even casting a wider net across the United States. Last year, 75.8 percent of unicorn companies were located in San Francisco and Silicon Valley; however, that number has shrunk to 59.2 percent with a remaining share in Utah, Oakland-East Bay, Boston, Washington, D.C. and Orange County.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

John Crossman Among Prestigious Panel Invited to Seminole County Regional Chamber’s First 2016 Good Morning Seminole Event

Justin Sand

ORLANDO, FL --- John Crossman, president of Crossman & Company and widely regarded as an expert on retail trends, was invited to participate in Good Morning Seminole Jan. 7 at the Lake Mary Events Center, 260 N. Country Club Rd. 

Commercial Real Estate is the focus of the event and Crossman will be on the panel from 8 to 9 a.m. along with Justin Sand, president of Epoch Residential, Craig Ustler, founder of Ustler Development and others to be determined. 

      

The panel will educate between 100 and 150 attendees on the outlook for Seminole County commercial real estate developments in the near future.   Crossman will share his perspective on shopping centers in the market.

Florida Blue is a major sponsor of the event which is free to chamber members and $10 for non-members.  

To register and RSVP go to http://www.seminolebusiness.org/events/register/3891

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

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

The Altman Companies Hires Robbie Thapa as Director of Marketing

  

Robbie Thapa

 BOCA RATON, FL, Dec. 28, 2015 – The Altman Companies, a nationally recognized developer of luxury apartment communities, hires Robbie Thapa as director of marketing.

 He is responsible for all marketing initiatives and corporate branding efforts for The Altman Companies, both in digital and print platforms.

  Additionally, he leads the implementation of strategic marketing planning for all new lease-ups, and oversees lead management and trend analysis for the entire Altman portfolio. He will be based in Altman’s Boca Raton headquarters.

Prior to joining The Altman Companies, Thapa was with Trade Street Residential, a public REIT that has closed on more than $2 billion in multifamily residential communities and developments. 

He directed all marketing activities for 19 properties throughout the Southeast. Thapa began his career in multifamily as an interior design manager for a leading property management company in Chicago.

“Robbie will play an integral role in our company’s branding,” said Joel Altman, chairman of The Altman Companies. “His marketing expertise and sensitivity to excellent design will be valuable to us and we’re excited to have him on our team."

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

BoardroomPR

Ashley Fierman, afierman@boardroompr.com

Todd Templin, ttemplin@boardroompr.com

(954) 370-8999

Mortgage Bankers Association Reports Commercial and Multifamily Mortgage Debt Continues Rise Led By Commercial Banks in Third Quarter

Jamie Woodwell

WASHINGTON, DC -- The level of commercial and multifamily mortgage debt outstanding increased by $38 billion in the third quarter of 2015, as three of the four major investor groups increased their holdings.  That is a 1.4 percent increase over the second quarter of 2015.  

Total commercial/multifamily debt outstanding stood at $2.76 trillion at the end of the third quarter.  Multifamily mortgage debt outstanding rose to $1.02 trillion, an increase of $19.3 billion, or 1.9 percent, from the second quarter.

“Commercial and multifamily mortgage debt outstanding continued to climb in the third quarter, driven by increases in the dollar amount of loans held in bank portfolios,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. 

“Banks accounted for 85 percent of the total increase, adding $32 billion to their holdings of commercial real estate loans, the largest amount since the series began in 2007.”

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Marcus & Millichap Brokers $4.18 Million Sale of Golden Corral Restaurant Site in Pompano Beach, FL

Golden Corral Restaurant, 2100 West Atlantic Boulevard, Pompano Beach, FL

POMPANO BEACH, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Golden Corral, an 11,035-square foot net-leased property located in Pompano Beach, Fla. The asset sold for $4,178,917.

Scott C. Sandelin

Scott C. Sandelin, a vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from Aventura, Fla.  

The buyer, a limited liability company from Aventura, Fla., was secured and represented by Adam J. Tiktin, a first vice president investments, and Debra Franklin, an associate, also in Marcus & Millichap’s Miami office.

“This was an opportunity to purchase a strong performing asset with 13 years remaining on an absolute triple-net lease,” says Tiktin.   “The operator is the fourth largest restaurant franchisee in the U.S. and the largest Golden Corral franchisee.”

“We received multiple offers and closed less than three months from bringing it to market for just under list price,” adds Sandelin.

The 11,035-square foot restaurant was built in 2005 and is situated on a 1.8 acre lot. Golden Corral is located at 2100 W. Atlantic Blvd. on a signalized intersection. It is an out-parcel to Wal-Mart Supercenter and is surrounded by national tenants.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

$9.8 million sale of village shoppes at st. lucie west arranged by marcus & millichap in Port St. Lucie, FL

Village Shoppes at St. Lucie West,  1718-1748 S.W. St. Lucie West Boulevard, Port St. Lucie, FL

Adam J. Titkin

PORT ST. LUCIE, 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 Village Shoppes at St. Lucie West, a 25,607-square foot retail center located in Port St. Lucie, Fla. The asset sold for $9,800,000 representing a 6 percent CAP rate.

Adam J. Tiktin, a first vice president investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Ross Realty – a partnership based in Davie, Fla.  The buyer, a partnership from Salem, Mass., was secured and represented by Derek R. Gibbs and Daniel J. Cunningham, associate vice president investments in Marcus & Millichap’s Fort Lauderdale office.

“This was a tremendous opportunity for an investor to acquire a stabilized and fully-leased shopping center,” says Tiktin.  “We received multiple offers from investors across the country and closed for just under list price.”

Village Shoppes at St. Lucie West is a 25,607-square foot retail center situated on 2.89 acres. The property is currently 100 percent occupied by nine tenants including Sprint, Fresenius Medical, Sports Clips and other national, regional and local tenants.

Located at 1718-1748 S.W. St. Lucie West Boulevard, the center is situated in a busy retail corridor just east of Interstate-95. Many national tenants including Walmart, Publix and Home Depot, as well as the New York Mets spring training camp are nearby.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000