Tracy Worrell with Crossman & Co. Negotiates Five New Leases at Retail Shopping Centers in Pasco County, FL

Tracy Worrell

Land O’Lakes, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently represented the landlords in four new lease agreements with restaurant and retail tenants at three shopping centers in Pasco County. 

Senior Associate Tracy Worrell negotiated three leases at the Shoppes of Dade City, a new Publix-anchored shopping center that opened in the fourth quarter of 2015.  

Worrell said Burger King leased a one-acre parcel located at the northeast corner of Clinton Ave. and US Hwy 301, and plans to open sometime this year. 

Other tenants Worrell negotiated leases with at Shoppes of Dade City include Lee Nails and China King.

At Collier Commons in Land O’Lakes anchored by Publix and Belk Department Store, Worrell completed a lease agreement with Jersey Mikes for 1,400 square feet. Worrell said there is high demand to join Collier Commons and there is only one retail opportunity that remains available. 

At Hays Road Town Center in Hudson, anchored by Publix, Worrell leased a 1,400 square foot unit to Mach Dentistry.  

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

HFF closes sale of Ritz-Carlton Georgetown, Washington, DC hotel

Ritz Carlton Georgetown, Washington, DC

 

Cyrus Vazifdar

WASHINGTON, DC, Jan. 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Ritz-Carlton Georgetown, Washington, D.C., an 86-room, full-service, luxury hotel in the Georgetown area of Washington, D.C. 

HFF marketed the property on behalf of the seller.  An undisclosed buyer purchased the hotel.

The Ritz-Carlton Georgetown was renovated in 2014 and features 34 suites, including five luxury suites, as part of its 86 guest rooms. 

The hotel features seven indoor and outdoor function spaces totaling 6,948 square feet, a 24-hour fitness center, business center, boutique spa and two restaurant and bar options, Degrees and The Living Room. 

Situated in the epicenter of Georgetown, the hotel is located at 3100 South Street NW in an iconic, historic neighborhood in Washington, D.C. with high-end retail, trendy restaurants and educational centers, including Georgetown University.

Daniel C. Peek

 The hotel is just off 31st Street and steps from both M Street and Washington Harbour, a mixed-use office, retail and residential development on the Potomac River.

The HFF investment sales team representing the seller was led by director Cyrus Vazifdar in addition to senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and director Alan Suzuki.

“Washington, D.C. is one of the most dynamic lodging markets in the country, and the next several years look extremely promising in the district as fundamental performance improves and transaction volume increases,” Vazifdar said. 

“With such a dearth of properties in Georgetown, it’s rare an opportunity arises to gain entrance into the market, particularly the caliber of the Ritz-Carlton.”

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

Kristen M. Murphy

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

Avison Young releases 2016 Canada US and UK Commercial Real Estate Reports

  

Sherry Quan

VANCOUVER, BRITISH COLUMBIA, CANADA – Avison Young has released its 2016 Canada, U.S. and U.K. Commercial Real Estate Reports.

The company states, ”As the books close on another strong year for commercial real estate, 2016 opens differently – with some uncertainty and unresolved questions that could impact the way owners and occupiers invest and operate.

“The variables, however, are both positive and negative. To successfully navigate the real estate markets in 2016, stakeholders will need to keep a global perspective, stay abreast of changes in the broader environment and, increasingly, devise innovative solutions to complex problems.

These are some of the key trends noted in Avison Young’s 2016 Canada, U.S. and U.K. Forecast:

• Click here to view Avison Young’s 2016 Canada, U.S. and U.K. Forecast, FULL REPORT:

https://avisonyoung.uberflip.com/i/625672-avison-young-2016-canada-u-s-and-u-k-commercial-real-estate-forecast

• Click here to view Avison Young CEO Mark Rose’s 2016 Commercial Real Estate Forecast VIDEOCAST, covering market trends in North America and Europe: (video will be live on Thurs. morning)

http://www.avisonyoung.com/media-room/ceo-video-audiocasts

Follow Avison Young on Twitter:

For industry news, press releases and market reports: www.twitter.com/avisonyoung

For Avison Young listings and deals: www.twitter.com/AYListingsDeals

Follow Avison Young Bloggers: http://blog.avisonyoung.com

Follow Avison Young on LinkedIn: http://www.linkedin.com/company/avison-young-commercial-real-estate

  

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

Sherry Quan

Principal and Global Director of Communications and Media Relations

sherry.quan@avisonyoung.com

Avison Young

D	604.647.5098
T	604.687.7331
C	604.726.0959

#2900-1055 West Georgia Street

P.O. Box 11109 Royal Centre

Vancouver, BC V6E 3P3, Canada

www.avisonyoung.com

Crossman & Co. Closes on New Leases at Three Retail Centers in Lakeland, FL and Mulberry, FL

Rochelle DuBrule

ORLANDO, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated leases at retail centers in Lakeland and Mulberry in Polk County. New tenants leased over 4,200 square feet.

At Huntington Hills Plaza, 2905 Duff Rd in Lakeland, Senior Leasing Associate Rochelle DuBrule negotiated a lease with 716 Burgers & Brews for 2,000 square feet.  The 18,000 square foot retail center is across from Huntington Hills Golf & Country.

Senior Leasing Associate Sandra Woodworth negotiated a new lease for 1,320 square feet at Lake Miriam Square in Lakeland at 4730 S. Florida Ave.  California-based Mathnasium, a customized math tutoring service for K-12 children, is the tenant who was represented in the transaction by Jason Toll of NAI Realvest.   Lake Miriam Square is  now 98 percent leased.

Woodworth also negotiated a new lease with Video Game Mania for 1,004 square feet at Imperial Lakes Plaza, 2040 Shepherd Rd. in Mulberry.  Imperial Lakes is currently 95 percent leased.

For more information, please contact

Sandra Woodworth, Senior Leasing Associate, Crossman & Company, 813-210-7509 swoodworth@crossmanco.com

  or Rochelle DuBrule, Senior Leasing Associate Crossman & Company 407-581-6248 rdubrule@crossmanco.com

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Intercontinental Real Estate Corporation and MG Properties Group Acquire 350–Unit Value-Add Apartment Community In Growing Southern California Market

Carmel Hacienda Heights Apartments, Hacienda Heights, CA

Jessica Levin

 Los Angeles, CA – Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development, and management firm headquartered in Boston, MA, and MG Properties Group (“MG”), a private San Diego-based real estate investor and operator, have announced their acquisition of the 350-unit Carmel Hacienda Heights Apartments in Hacienda Heights, California.

Hacienda Heights is a central location with convenient access to downtown Los Angeles, Orange County, and Inland Empire job corridors. 

The buyers are rebranding the property as The Hills at Hacienda Heights, and plan to execute a renovation program to upgrade unit interiors, common areas, the property exterior, and to address deferred maintenance items, according to Jessica Levin, Intercontinental’s Director, Acquisitions, based in Los Angeles.  

The seller was represented by Sean Deasy and Mark Petersen at HFF. The buyers represented themselves.  The acquisition was financed with a 10-year fixed-rate mortgage from Freddie Mac, arranged by Brian Eisendrath at CBRE. 

Mark Gleiberman

“In addition to Hacienda Heights’ central location surrounded by a dynamic set of employment drivers, the property is poised to benefit from further economic growth in the region and is well suited for our long-term value-add investment strategy,” says Levin.

According to Mark Gleiberman, MG’s Chief Executive Officer, “The Hills at Hacienda Heights is an excellent addition to our existing portfolio in Los Angeles and the Inland Empire, allowing us to further benefit from efficiencies of scale in the region.

“We continue to see that the Southern California market has strong potential for further growth in the current economic recovery and we are actively seeking additional investment opportunities here.”

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

 Jenn Quader or Katie Kea

 (949) 955-7940

kkea@browermillercole.com

www.hfflp.com

Twitter @HFF

www.mgproperties.com

“Mobility Concierge” An Innovation of North American Properties New Initiative Dedicated to Improving Mobility in Midtown Atlanta, GA

 

Shannon Powell

ATLANTA, GA  – Showing its commitment to alternative transportation in a bold way, North American Properties (NAP) is announcing the creation of a full-time “Mobility Concierge” at Colony Square, the iconic mixed-use development in Midtown Atlanta.

The new Concierge will work with tenants, guests and the greater Midtown community to identify customized transportation and mobility solutions and incentivize their use. 

In addition, NAP will install several TransitScreens that provide real-time transportation options to further encourage the adoption of mobility alternatives.

Located at the intersection of 14th and Peachtree Streets, often referred to Main and Main, Colony Square has the highest pedestrian count in the City outside of Georgia Tech’s campus.

 In addition, Midtown is one of the most walkable neighborhoods in Atlanta, with a walk score of 84. It also has strong access to public transportation and is bicycle-friendly, with a bike score of 76.

“We are a nexus of bike lanes, streets, sidewalks and transit,” said Mark Toro, managing partner of NAP and Midtown resident who often walks to work. “On any given day, you are bound to see several Ubers waiting in Colony Square’s roundabout. The Mobility Concierge will readily help the community utilize these transportation alternatives in order to make Midtown a more mobile community and give our tenants, guests and residents a better quality of life.”

Mark Toro

A recent poll by Urban Land Institute (ULI) found that transit access is important for about 80 percent of Millennials. According to the Midtown Alliance, approximately half of the neighborhood’s residents are Millennials, and the population is expected to grow.

“Walkability, bikability and accessibility to public transit are huge motivators for the new generation of office workers and in town residents,” said Shannon Powell, executive vice president and COO of Midtown Alliance.

“NAP’s unique mobility initiative will make Colony Square and the greater Midtown community a better place to work, live and spend time. Their Mobility Concierge will work hand-in-hand with our team at Midtown Transportation to heighten awareness of options.”

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

Liana Moran

The Wilbert Group

404.748.1367

Lmoran@thewilbertgroup.com

Kohl’s to Open Off/Aisle Store at HSA Commercial’s Mayfair Collection in Wauwatosa, WI

Tim Blum

CHICAGO, IL — Chicago-based HSA Commercial Real Estate announced Kohl’s will open an Off/Aisle store at The Mayfair Collection in Wauwatosa, Wis. 

The new 23,392-square-foot store, scheduled to open in spring 2016, will be located in the last remaining anchor space between Dick’s Sporting Goods and Ulta Beauty in the prominent shopping center development’s first phase. 

Off/Aisle offers customers who love to shop an exciting opportunity to browse and hunt for thrilling prices on quality merchandise from a trusted retailer, including apparel, accessories and home items at an incredible discount. The first pilot opened in Cherry Hill, N.J., in June 2015.

“We believe The Mayfair Collection offers the perfect venue for Kohl’s to launch their new store concept, which is a big reason why we are so excited to have them as our final anchor for Phase 1,” said Tim Blum of HSA Commercial Real Estate.

“By having other category leaders such as Nordstrom Rack and DSW nearby, Off/Aisle will be well-positioned to introduce the store to target customers from across the Midwest.”

Yoni Zvi

Phase 1 of The Mayfair Collection – anchored by Nordstrom Rack, Dick’s Sporting Goods, Saks Fifth Avenue OFF 5TH, DSW and more – opened to large crowds of customers in April 2014. 

The project’s construction consisted of adaptively repurposing functionally obsolete warehouse buildings along Highway 45 into new, contemporary retail environments. 

The Mayfair Collection’s second phase will be anchored by a 45,150-square-foot Whole Foods Market, scheduled to open in March 2016.

Kohl’s Corporation was represented in the lease transaction by Yoni Zvi of EDG18 Commercial Real Estate.

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

HFF hires Edmund Najera as a managing director in its San Francisco, CA office

Edmund Najera

SAN FRANCISCO, CA,  Jan. 13, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has hired Edmund Najera as a managing director in its San Francisco office.  Mr. Najera will focus on office and R&D investment sale transactions throughout the Bay Area.

Mr. Najera has more than 15 years of commercial real estate experience and most recently served as a senior vice president at Eastdil Secured in Silicon Valley. 

Prior to that, Mr. Najera worked for the San Francisco office of Grubb & Ellis.  He holds a Bachelor of Business Administration degree from the University of San Diego. 

“HFF is pleased to have a seasoned investment sales professional who has key relationships with well-known institutions and high net worth private investors such as Najera join our team,” said Steven Golubchik, senior managing director and co-head of HFF’s San Francisco office.

 “Najera’s presence at HFF will strengthen our office and industrial investment sales platform in the West as well as nationally, and marks the 16th hire or promotion of a West Coast transaction professional and the 37th new hire in HFF’s West Coast offices since the beginning of 2015,”.

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

Kristen M. Murphy

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

Berkadia Closes on 116 Unit Apartment Community in Hoover, AL

 

David Oakley

BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Chapel Park, a 116-unit apartment community located in Hoover at 3409 Pimm Lane.   The three-story, garden-style apartments were built in 1972.

David Oakley, managing director, of Berkadia Real Estate Advisors, LLC represented the buyer, FPA Chapel-Northridge, LLC, and Engel Realty Company represented the seller, Chapel Park Apartments, LLC. 

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties

 

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com.

Hold-Thyssen Completes $1.2 Million Sale of Winter Park, FL Office Building Near Park Avenue

Joelle Forster

WINTER PARK, FL --- Hold-Thyssen, Inc., recently arranged the sale of a two-story office building at 601 N. New York Ave. to a user-investor for $1,225,000.

Hold-Thyssen brokerage team of Martin Forster, CCIM, and Joelle Forster brokered the transaction representing the seller, GFP Properties, Ltd. a/k/a Pebbles. 

  The 8,670 square foot building located close to Park Avenue was the long time home of the renowned restaurant group. 

The buyer, Seventh Gen Enterprises, LLC will occupy part of the building.

 

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com.

NAI Realvest brokers Two Industrial Leases at Oviedo Commerce Center in Oviedo, FL

 

George Viele

ORLANDO, FL – NAI Realvest recently negotiated two industrial leases totaling 4,671  rentable square feet at Oviedo Commerce Center, 2462 W. SR 426 in Oviedo. 

George Viele, associate at NAI Realvest, brokered both transactions representing landlord Oviedo Commerce Center LLC of Winter Park.

Allen Sportswear, Inc. leased 3,080 square feet in Suite 1000 and EBC Electronics, manufacturer of components and application-specific circuits, renewed its lease of Suite 1012 with 1,591 square feet.

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com.

Crossman & Co. Closes on Six Leases at Lemon Bay Shopping Center and Merchants Crossing in Englewood, FL

Tracy Worrell

Englewood, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently completed six lease agreements representing the landlords at Lemon Bay Shopping Center and Merchants Crossing in Englewood. 

Senior Associate Sandra Woodworth negotiated a long-term renewal with Big Lots who occupies 36,464 square feet at Lemon Bay Shopping Center at 1845 Englewood Rd.  

A new lease at Lemon Bay for 3,980 square feet was signed by Norma Jeans, a sports grill.   Cinidyne Sales renewed their lease of 3,095 square feet and a lease renewal agreement for 1,450 square feet was completed by Woodworth with Simply Yum Yum a local bakery.   

At Merchants Crossing, 1500 Placida Rd. at the corner of McCall Rd, Senior Associate Tracy Worrell completed two new lease agreements.  Englewood Jewelry and Gold leased 1,200 square feet and Great Clips leased 1,225 square feet.  Merchants Crossing is anchored by Publix and Bealls Department Store.

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com.

Crossman & Co. Closes Five New Leases totaling 7,200 square feet for future Publix-anchored Southshore Village, slated to open the end of this year in Ruskin, FL

  

Sandra Woodworth

RUSKIN, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently completed five new lease agreements for a total of 7,200 square feet at the Publix-anchored Southshore Village shopping center that will be constructed at US 41 and 19th Ave. NW in Ruskin. 

Senior Associate Sandra Woodworth negotiated all five transactions representing the landlord, Publix Super Markets, Inc. who anticipates their new store and retail center will be open and ready for occupancy in December of this year. 

ZPAN, a Japanese restaurant leased 2,400 square feet; and China 1, Great Clips, H&R Block and Posh Nails & Spa all leased 1,200 square feet in the 56,831 square foot shopping center which is 95.78 percent leased prior to ground breaking.     

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com.

Passco Companies Acquires Core Retail Asset With Strong Tenant Mix in Affluent Rancho Cucamonga, CA Market

Day Creek Village Shopping Center, Rancho Cucamonga, CA

Bob Peterson

Inland Empire, California  – Passco Companies, LLC,  has acquired Day Creek Village, a 100-percent leased neighborhood shopping center in Rancho Cucamonga, the second largest submarket in California’s Inland Empire market.

“This property is a strong addition to our portfolio based on its excellent tenant mix and local demographics,” explains Bob Peterson, Vice President of retail acquisitions for Passco Companies. “We continue to seek stabilized retail assets in growing markets with the potential for strong performance over time.”

Peterson notes that the Inland Empire boasts a population of 4.5 million residents, with the population immediately surrounding Day Creek Village projected to grow by more than five percent in the next five years. 

Further, Rancho Cucamonga’s median household income is 47 percent higher than the Inland Empire as a whole.  In the one-mile radius of the center, the average household income is $111,000.

These facts translate to strong consumer buying power that will drive value for the asset, according to Peterson.

“This center has generated positive cash flow since it was built,” explains Peterson.  “It is located in a growing market, and has commanded increasing asking rates over the last two years.”

CJ Osbrink

The 25,002 square-foot Day Creek Village shopping center is shadow-anchored by a Ralph’s grocery store, and currently has 14 tenants, including Starbucks, Wells Fargo, Super Cuts, Subway, and Orange Theory Fitness.

Peterson notes, “This submarket has not delivered any new retail inventory since 2009, making Day Creek Village one of the newest centers in the area.  Based on the asset’s strong tenants and limited competition in this growing Southern California market, we are confident in this acquisition.”

Day Creek Village is located at 12223 - 12273 Highland Avenue in Rancho Cucamonga, California.  The property is situated at the intersection of Day Creek Boulevard and Highland Avenue, in close proximity to the 210 Freeway, and is visible to a traffic count of 21,000 vehicles each day along Day Creek Boulevard.

Passco Companies acquired the center for $15.8 million.  HFF’s CJ Osbrink and Gleb Lvovich represented both Passco as the buyer and Day Creek Village, LLC as the seller in this off-market transaction.

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

Lexi Astfalk

Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940

lastfalk@browermillercole.com

HFF hires Forrest Bass as a director in its Austin, TX office

Forrest Bass

                             

 AUSTIN, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced Forrest Bass has joined the firm as a director in its Austin office.  Mr. Bass will focus on multi-housing capital markets and investment sales transactions in Austin and throughout Central Texas.

Mr. Bass has more than 10 years of multi-housing experience and most recently worked as a senior director at Berkadia. 

Prior to Berkadia, he held positions at Tarantino Properties and Houston Income Properties in both Austin and Houston.  During his career, he has closed well over $1 billion in apartment sales throughout Texas.  Mr. Bass holds a Bachelor of Business Administration degree with a concentration in Finance from the University of Texas at Austin. 

  

“We are thrilled to have Forrest join our team.  He has tremendous multi-housing experience and long-standing relationships with many of the apartment operators in Austin and throughout Central Texas.  He is a perfect complement to our existing team,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office. 

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

http://www.hfflp.com/