Friday, June 16, 2017

Atlantic | Pacific Companies and Blue Arch Advisors Announce First Closing of a New $175 Million Fund for Multifamily Investments


 
Greg Ward
MIAMI, FL – Atlantic | Pacific Companies (A|P) and Blue Arch Advisors announced the closing of their co-sponsored fund, Blue Atlantic Partners II, which will focus on investing in existing multifamily communities in the Southeast and Southwest U.S.

The fund closed with approximately $110 million of equity capital commitments. 

The fund expects additional closings in the coming months with a total target raise for the fund of up to $175 million of equity which together with anticipated leverage is expected to have buying power of approximately $500 million. Investors in the fund include domestic and international institutions and high net worth individuals.

“In Blue Atlantic Partners I, we were able to successfully acquire $260 million in multifamily assets for our investors in a nine month period,” said Greg Ward, Managing Partner with the fund from A|P. “We are excited for the opportunity to provide the same level of service for our clients in Fund II."

Gil Hermon
The fund's strategy will be to purchase existing multifamily communities that can benefit from A|P’s property management expertise and value add/renovation program. The fund's target locations are affluent suburbs of major cities in the Southeast and Southwest U.S.

"We are grateful for the support from our investors, especially our repeat investors, and very excited to continue to grow our platform," said Gil Hermon, Managing Partner with the fund from Blue Arch Advisors.

For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apcompanies.com or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

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

Jessica Wade Pfeffer, President
MIAMI OFFICE: 7100 Biscayne Blvd., Suite 306A | Miami, FL 33138
NEW YORK OFFICE: 401 Park Ave. S., Suite 10-017 | New York, NY 10016
Headquarters Phone +1.305.456.0483 | Cell +1.305.804.8424

Facebook, Instagram and Twitter @JWIpr

HFF closes $45.3 million sale of and arranges $34 million in financing for Three-building office complex in greater Philadelphia

  
Valley Creek Corporate Center, Exton, PA

Doug Rodio

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $45.3 million sale of and arranged $34 million in financing for Valley Creek Corporate Center, a three-building, Class A office complex totaling 259,163 square feet in Exton, Pennsylvania.

HFF marketed the property on behalf of the seller, a real estate investment management and advisory company based in California. 

A joint venture between Pembroke IV, a real estate investment company based in greater Philadelphia with significant Class A office investments in the suburban Philadelphia and Chicago markets, and Ten Capital Management, a privately held real estate investment management company based in Cleveland, Ohio, purchased the assets. 

Additionally, HFF worked on behalf of the new owner to secure the 10-year, 4.30 percent, fixed-rate acquisition loan through Barclays Capital. 

Valley Creek Corporate Center comprises 220, 222 and 224 Valley Creek Boulevard, which are situated near the confluence of Routes 202 and 30 and the Pennsylvania Turnpike about an hour northwest of downtown Philadelphia. 

Brett Segal
The immediate area surrounding the property is highly amenitized with hotels, restaurants, shopping centers, banks, daycares and health clubs.  

Additionally, Exton Park, a 725-acre park with running, walking and biking trails; recreational fields; fishing ponds and plans for equestrian space, golf and sports fields, is located adjacent to Valley Creek. 

 Completed in 2002, the property is 95.2 percent leased with an average weighted lease term of 5.5 years.

The HFF investment sales team representing the seller was led by senior managing director Doug Rodio, managing director Brett Segal, director Ben Appel and senior managing director Jose Cruz.

HFF’s debt placement team was led by managing director Ryan Ade and associate director Neil Campbell.
  
“This ‘best-in-class’ asset boasts an impressive mix of global corporate headquarters and credit worthy tenants and is situated in the Route 202 corridor, one of suburban Philadelphia’s most desirable locations,” said Rodio.


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

Kristen M. Murphy
Director, Public Relations
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

Thursday, June 15, 2017

Marcus & Millichap Arranges $710,000 Sale of Safelite Site in Hickory, NC

  
Jaclyn Blair

 
Raj Ravi
HICKORY, NC – 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 Safelite, a 4,085-square foot net-leased property located in Hickory, North Carolina, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $710,000.

Jaclyn Blair, an investment specialist for Marcus & Millichap represented the buyer, a limited liability company.  Raj Ravi, broker of record in Marcus & Millichap’s North Carolina office assisted in closing this transaction.  The buyer had recently sold a multi-tenant office property in Cary, also arranged by Jaclyn Blair, and was in a tax deferred exchange.

Safelite is located at 1961 US Highway 70 Southeast in Hickory, North Carolina.  The property is a single tenant net-leased asset. 

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

Ari Ravi
Regional Manager, Tampa

(813) 387-4700

Wednesday, June 14, 2017

Arbor Funds $28M New Construction Loan in Clearfield, UT



Garth Davis
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has announced it has funded a $27,354,000 FHA 221(d) (4) loan for the new construction of Clearfield Station, a Class A, 216-unit multifamily building located in Clearfield, UT. 

The multifamily construction project will be part of a larger 72-acre master-planned development adjacent to the Clearfield FrontRunner commuter rail station owned by the Utah Transit Authority (UTA). The developer has planned a mixed-use for the property including office and residential spaces, an industrial park, a school and a park, as well as parking to support the existing rail station.

The 24-month non-recourse construction loan converts to a 40-year self-amortizing permanent loan and was originated by Garth Davis, Senior Vice President, Western Regional Director, based in Arbor’s San Francisco office.


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

Bonnie Habyan
Arbor Realty Trust, Inc.
 Tel: (516) 506-4615
333 Earle Ovington Blvd, Suite 900                                                 bhabyan@arbor.com
Uniondale, NY 11553
1-800-ARBOR-10                                                                                         
                                  



Lincoln Property Company Completes Five Leases Totaling 15,980 square feet at Lake Destiny Center I in Maitland, FL

 
Sean Dupree
ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm based in Orlando, recently completed three new and two renewal leases for 15,980 rentable square feet at Lake Destiny Center I, 1101 N. Lake Destiny Rd. in Maitland.

Sean DuPree, Broker at Lincoln Property who negotiated all five transactions on behalf of the Landlord said owner TerraCap Management made substantial improvements to the 57,358 square foot, four-story Class A office building since purchasing the property 18 months ago resulting in both new leases and long-term renewals of existing tenants.

Blackwood Industries, (www.blackwoodindustries.com) a supplier of goods to foodservice industry customers including Olive Garden, Outback and Sam’s Club, leased Suite 120 with 3,096 square feet;

Harte Hanks Strategic Marketing Inc. (www.hartehanks.com) leased Suite 335 with 2,314 square feet. The multi-national company with 32 offices in six countries provides a myriad of services from branding to video content; and

Priority Search International, Inc. (www.prioritysearch.com) and Titlesoft, Inc. (www.titlesoftinc.com)  renewed Suite 265 with 2,248 square feet and Suite 105 with 1,451 square feet, respectively.

ClearChoice Management Services (www.clearchoice.com) a dental implant periodontist who signed a new lease for 6,871 square feet at the end of 2016, recently opened their new office in suite 130 and are now seeing patients there.

 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

Hold-Thyssen Closes Sale of West Orlando Mobile Home Park for $1 Million




N. Joelle Forster


 
Martin Forster
ORLANDO, FL and WINTER PARK, FL --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park, recently negotiated the sale of Conestoga Mobile Home Park at 5650 W. Colonial Drive in Orlando for $1,000,000.00.

The Hold-Thyssen brokerage team of Martin Forster, CCIM and N. Joelle Forster brokered the transaction on behalf of the buyer, AMHC Conestoga, LLC, and the seller – Marie S. Howlett, Trustee, the same family ownership since 1953.    The property, consisting of 60 lots on 4.49 acres had never been previously offered for sale. 

Forster said due diligence was protracted due to environmental concerns that ultimately proved groundless, and the property received a clean environmental report. 

Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States.

 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


NAI Realvest Negotiates Six New Industrial Leases in Casselberry, Oviedo and Sanford totaling more than 23,200 Square feet

  
 
Jeff Bloom
Oviedo, FL and Sanford, FL – NAI Realvest, recently negotiated six new industrial leases in Casselberry, Oviedo and Sanford for industrial space totaling 23,204 rentable square feet.

Jeff Bloom, CCIM, vice president at NAI Realvest, brokered the lease of 1,500 square feet of industrial space in suite 1019 of Seminole Commerce Center, 1495 Seminola Blvd. in Casselberry.  The new tenant is Revel LLC and Canterbury Enterprises, Inc. is the landlord.

Paul P. Partyka, CCIM, partner at NAI Realvest brokered two leases at Airport North Industrial Park, 3680 Delphini Park Lane in Sanford representing the Landlord AIM 786, LLC.  The new tenants are Resort Holdings International, a local company who transfers renovated classic cars that leased 6,000 square feet, and Epic Stainless, Inc. an aluminum furniture manufacturer who leased 3,600 square feet.

In Oviedo’s South Park Business Center, Partyka brokered two leases for a total of 9,944 square feet at 531 and 532 S. Econ Circle.  Both suites will be occupied by Power Dry of Oviedo.  The New York-based landlord is WSV Gilbert LLC.  

At Monroe CommerCenter South Phase III located at 4295 Church St. in Sanford, Michael Heidrich, a principal at NAI Realvest brokered a lease of 2,160 square feet to house an office of the Tallahassee-based Florida Department of Financial Services.  Orlando-based RHCP COP Orlando, LLC is the landlord at the center. 

 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

Fifield Realty Corp. Reaches 85-Percent-Leased Milestone in Less Than Nine Months at NEXT Apartments in Chicago

  
Randy Fifield


CHICAGO, IL (June 14, 2015) — Chicago-based Fifield Realty Corp. has announced that NEXT Apartments, its 310-unit luxury apartment project at 347 W. Chestnut in Chicago’s River North neighborhood, has been leasing at a record pace.

 Open less than nine months, the 28-story tower, which offers residents a full suite of best-in-class amenities and five-star services, is 85 percent leased.

NEXT Living Room
“NEXT has led the way for high-rise residential living in this rapidly emerging tech corridor and set the standard for rentals in the neighborhood,” said Randy Fifield, chairwoman of Fifield Realty Corp.


“Young urban professionals, graduate students and older millennials with young children are just a few of the groups choosing the luxury lifestyle available at NEXT. 

"They want a world-class, amenity-rich building that is not just near work, but also in proximity to the city’s top schools, restaurants, shopping, parks and entertainment.”

Luxury apartments at NEXT range from 426 to 1,727 square feet, with a mix of studio, one- and two-bedroom units available, along with two- and three-bedroom penthouses.

 Homes feature nine-foot ceilings, oversized windows, plank flooring, quartz countertops, tile backsplashes, Grohe faucets, closet organizers, oak-faced flat paneled cabinets and GE stainless steel appliances. Private balconies and master bedroom walk-in closets are available in select units.

NEXT Swimming Pool
“Before NEXT’s opening in late September 2016, there had been little high-rise residential construction during the last few years between Chicago Avenue and Division Street,” said Steve Fifield, chairman of Fifield Cos.

“Today, there are other developers following our lead in this community and recognizing how fast the area has grown and changed — and how demand for well-designed buildings with top-of-the-line finishes will continue. In spite of beginning our leasing during the traditionally slower fall/winter period, we are ahead of our own projections and industry expectations. And we expect lease-up at NEXT to stay strong.”

NEXT residents have daily access to a state-of-the-art fitness center with special class offerings and an indoor/outdoor yoga studio; media room with oversized TV with surround sound; demonstration kitchen; coffee bar; gaming arcade; business center and conference room; “bicycle kitchen” with storage, supplies, tools and air pumps; dog spa; and an outdoor pool, spa and sun terrace complete with cabanas, a fire pit, and outdoor grilling kitchens with pergolas and seating.

Steve Fifield
Building residents also receive daily greetings from their well-known four-legged neighbor Daisy, an 80-pound Newfoundland that lives onsite and is NEXT’s official “House Dog.”

“Not only can our residents be close to everything downtown has to offer, but they also can get a great workout, host the best parties, have efficient business meetings, and enjoy some cuddles with a sweet, friendly dog without committing to pet ownership,” said Randy Fifield. 

“Our goal at NEXT is to offer residents the best of everything and to make their daily routines a little easier. They can even count on our staff to organize fun, educational events and arrange partnerships with local businesses that contribute to their overall health and wellness.”

Located just two blocks from the CTA’s Brown/Purple Line stations at Franklin Street and Chicago Avenue, and a short walk to the Red Line station at North and Clybourn, NEXT offers convenient access to the Loop. It is also within proximity of popular River North dining and nightlife destinations, parks, and grocery stores such as Whole Foods, Jewel-Osco and Target.

To learn more about NEXT Apartments in Chicago, or for leasing information, visit www.nextapts.com or call 312-361-3199

And for renters who want a similar renter lifestyle to the one offered at NEXT Apartments in Chicago, but on the West Coast, Fifield Realty Corp. has begun leasing its new 398-unit luxury NEXT on Sixth Apartments in LA's Koreatown, which will open in August. http://nextonsixth.com/


Daisy
 Fifield Cos. is one of the nation’s premier developers of urban office towers and luxury high-rise rental apartments. 

Established in 1977, Fifield has earned a reputation for creating superb living and office environments in some of the country’s most renowned locations, including Chicago, Austin, Dallas, Ft. Lauderdale, Los Angeles, San Francisco, Washington DC, Las Vegas and Honolulu. Fifield has completed more than 70 projects in the United States worth more than $7 billion. For more information, visit

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

Gretchen Muller, gmuller@taylorjohnson.com, 312-267-4511
Kim Manning, kmanning@taylorjohnson.com, 312-267-4527




Tuesday, June 13, 2017

Stepp Commercial Completes $2.1 Million Sale of Apartment Property in Santa Monica, CA


Kimberly R. Stepp


Los Angeles, CA - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the approximately $2.1 million sale of a six-unit apartment property located at 2206-2208 1/2 Ocean Park Boulevard, in the desirable Sunset Park area of Santa Monica.

Kimberly R. Stepp and Aynsley Armbrust with Stepp Commercial, represented the seller, Los Angeles-based Gerst Family Trust. Stepp also represented the buyer, a Los Angeles-based private investor.  The property sold for a low cap rate of 3.5 percent, a high price per unit of $337,500, and $605 per square foot, which is close to record level in the area.

Aynsley Armbrust

"This property offered a prime location that is walking distance to the Green Street district of Ocean Park," said Stepp. "The buyer plans to hold this investment in their portfolio for the long term."

Built in 1948, the one-story property consists of a six bungalow-style one-bedroom, one-bathroom units. The units feature hardwood floors, crown molding, and private entrances.


Stepp Commercial is a brokerage firm specializing in the multifamily sector for properties ranging in size from $1 million to $50 million.

 Stepp Commercial's mission is to provide apartment owners with a fully integrated sales platform that includes comprehensive market knowledge and local real estate expertise to successfully complete any type of multifamily transaction.

For more information visit http://steppcommercial.com

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

Darcie Giacchetto
D.G. Communications, Inc.

949.278.6224

Marcus & Millichap Arranges $1.35 Million Sale of Denny’s Site in Venice, FL


Marc Strauss
VENICE, F  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Denny's, a 5,031-square foot net-leased property located in Venice, FL, according to Ryan Nee, Vice President/Regional Manager of the firm’s Fort Lauderdale office. The asset sold for $1,350,000.

Marc E. Strauss, Senior Vice President Investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

“The Seller is a long-time client of Marcus & Millichap and is one of the largest operators of Denny’s in the United States,” states Strauss. “Our firm generated several offers in the process. In addition, we were able to go under contract, negotiate a new 10-year lease and close all within 52 days,” elaborated Strauss.

Denny's is located at 1763 Tamiami Trl S in Venice, FL.  The subject property is a 5,031-square-foot building on a 0.75-acre parcel. The location is dense with retail and surrounding residential neighborhoods.

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

Ryan Nee
Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

Hospitality Ventures Management Group (HVMG) Expands Further into Lifestyle Segment; Opens Plunge Beach Hotel in Lauderdale-by-the-Sea, FL, Fourth Lifestyle Hotel in Portfolio


Plunge Beach Hotel, Lauderdale-by-the-Sea, FL


Robert Cole
       
LAUDERDALE-BY-THE-SEA, FL – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, announced the grand opening of the 163-room Plunge Beach Hotel in Lauderdale-by-the-Sea, Fla. 

It is the company’s fourth recent upscale lifestyle hotel with unique and custom created F&B outlets to be added to the company’s portfolio.

            “Along with the recent additions of the Hotel Indigo Denver Downtown, the Hotel Indigo Atlanta Downtown and the only-one-of-its-kind, lifestyle-targeting, under-construction Embassy Suites by Hilton St. Augustine Oceanfront Resort in Florida, we have established a strong team of creative operators in this specialized hotel segment,” said Robert Cole, HVMG president and CEO.

 “HVMG continues to evolve and diversify our portfolio of investment grade hotels.  With this growth, we have added significant depth and specialization to create a seasoned upscale lifestyle team.  We continue to focus on adding to our portfolio within this segment, and the Plunge Beach Hotel is an excellent property to showcase our skills in this arena.”

            Located on 300 feet of pristine beach frontage in the town of Lauderdale-by-the-Sea, Plunge Beach Hotel is designed to offer a distinct guest experience.

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

CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553



Monday, June 12, 2017

Voit Directs $11.6 Million Lease of Warehouse Property in Rialto, CA


Thrifty Oil Co. Warehouse, Rialto, CA


Frank Geraci
Ontario, CA – Voit Real Estate Services is proud to announce that the team of Frank Geraci, Executive Vice President, Juan Gutierrez, Senior Vice President, and Adam Geiger, Associate, from Voit’s Inland Empire office have successfully completed the $11.6 million lease of a 441,675 square-foot warehouse facility in Rialto on behalf of Thrifty Oil Co.

The tenant, Radial, a 3rd party logistics provider, was represented by Jay Dick of CBRE.

“The Inland Empire market continues to absorb industrial space at unprecedented levels and we expect this trend to continue for the near future,” commented Juan Gutierrez of Voit. 

“We were able to attract a quality tenant due to the fact that Thrifty Oil Co.  provided a state-of-the-art facility with features such as a 36’ ceiling height, cross-dock configuration and a generous truck court that accommodates additional employee and truck parking, and immediate ingress and egress to the 210 Freeway.”

“We were extremely pleased with the Voit team’s comprehensive representation of our Rialto project and appreciated the professionalism of Radial’s broker Jay Dick of CBRE. Thrifty Oil looks forward to a long and constructive relationship with our newest customer, Radial,” remarked Sean Tabor, Thrifty’s Chief Operating Officer.

Juan Gutierrez
The property, which is part of the Renaissance Rialto Business Park, will be used as the distribution center for the west coast stores for a leading European fashion brand offering clothing, shoes and accessories for all ages.

Radial, which specializes in streamlining logistics, will be relocating their current facility from a 170,000 square-foot space in Redlands, which they have significantly outgrown, to the more than double 441,675 square-foot facility in Rialto and has signed a 63-month lease.

According to Jay Dick of CBRE, “This new facility, which offers immediate freeway access and has the ability to accommodate parking for up to 500 vehicles, will help the tenant deliver on-time and efficient fulfillment of their goods and provide expansion space to support future growth.”

The property is located at 2225 North Alder Avenue in Rialto, California. 

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

Jessamyn J. Wilkinson | Director of Marketing
Voit Real Estate Services
2020 Main Street, Suite 100 | Irvine, CA 92614
T (949) 263-5314 | C (949) 929-7147
jwilkinson@voitco.com | www.voitco.com
Twitter: @VoitRealEstate | LinkedIn: Voit Real Estate Services
Voit Real Estate Services, Broker License # 01991785


Terwilliger Pappas Breaks Ground on Solis Town Center In The Heart Of Suwanee Town Center

  
Rendering of Planned Solis Town Center, Suwanee, GA

Alan P. Dean
ATLANTA, GA – Terwilliger Pappas breaks ground this month on Solis Town Center, a 240-unit mixed-use apartment development with 12,000 square-feet of retail space set on 6-acres adjacent to Suwanee Town Center.

Partnering with Carlyle Realty Partners and Cadence Bank, Solis Town Center will be a luxurious residential/retail addition to the award-winning Town Center.

Located at the intersection of Lawrenceville-Suwanee Road and Buford Highway, two of Suwanee’s busiest roadways, Suwanee Town Center is a vibrant mixed-use area, anchored by a 10-acre urban-style park, 100,000 square-feet of retail and 87,000 square-feet of office. It embodies Suwanee’s vision for “live…work…play…shop.”

“Terwilliger Pappas continues to focus on locations that afford our residents the ability to walk to restaurants, retail and entertainment. Suwanee Town Center checks all of those boxes and more,” said Alan P. Dean, Region President at Terwilliger Pappas. “We are excited to add Solis Town Center to this special community.”

 For a complete copy of the company’s news release, please contact:
                                               
Taylor Rowden/Hilary Harmon
Liz Lapidus PR
404-688-1466

Cushman & Wakefield’s Bruce Erhardt Releases Tampa Bay Land Report


Bruce Erhardt

TAMPA, FL — Cushman & Wakefield has released its 2017 1Q Tampa Bay Land Market Overview.

The quarterly report, authored by Executive Director Bruce Erhardt, offers insight into the Tampa Bay land market gleaned from his own research and experience and respected sources throughout the industry.

According to Erhardt, the exceptional demographics of the Tampa Bay market will continue to promote growth in the local land market through 2023.

“I’m still predicting the overall Tampa Bay land cycle has five to six years left, with solid growth for the next three years,” said Erhardt. “Population and job growth are the drivers.”

A brief overview of Erhardt’s findings in the Tampa Bay market can be found below:

Multifamily Land

The multifamily land market remains very active as it has for nearly six years. For-sale townhomes and condominiums continue to gain momentum in both urban and suburban markets. Suburban multifamily development is picking up steam as the availability of Class A urban infill sites dwindles. Infill assemblages are available.

Single Family Land

Builders and developers continue to drive the market for Class A and B single-family land, as they have for nearly eight years. The market has produced some land acquisitions outside the A/B market. Demand for entry-level sites is strong.

Port Tampa Bay, FL
Retail Land

The demand for retail land remains tenant- and location-driven. Interest in outparcel subdivisions and unanchored strips in Class A locations remains strong.

Industrial Land

New and local developers continue to put under contract and close industrial land positions in Tampa, Lakeland, Plant City and Manatee County/Lakewood Ranch.

Office Land

As it has for nearly five years, activity in the office land market has been limited to users and build-to-suits. Medical office construction by providers continues to be active. Several developers are eyeing Pasco County.

Hospitality Land

Hotel development remains active in both urban and suburban locations, as it has for the past three years.


Agricultural Land

The agricultural market remains active, with demand outpacing supply.

For more information, please visit http://www.cushwakelandfl.com/tampa/.

To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com
 or follow @CushWake on Twitter.

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

David A. Meyer
Owner
Meyer Media 
+ 1 407 489 7488



Sunday, June 11, 2017

Palo Alto Housing Breaks Ground on New Affordable Veterans and Workforce Housing in Mountain View, CA


Eagle Park Apartments, 1701 West El Camino Real, Silicon Valley, Mountain View, CA

 
Ken Rosenberg
MOUNTAIN VIEW, CA -- On June 12, 2017, City of Mountain View Mayor Ken Rosenberg, Santa Clara County Board Supervisor Joseph Simitian, State Housing and Community Development Director Ben Metcalf, California Department of Veterans Affairs and other local leaders will celebrate the groundbreaking of Eagle Park Apartments, an affordable residential rental community being developed by Palo Alto Housing (PAH) in the center of Silicon Valley.

Eagle Park Apartments will be an architecturally innovative building comprised of 67 rental apartments which will house low-income veterans and households earning up to 60 percent of the Santa Clara County Area Median Income (AMI). 

The unit mix consists of 62 studios at approximately 400 square feet and five one-bedroom apartment homes at nearly 600 square feet. 

Expected to be completed in the fall of 2018, this approximately half-acre property is centrally located in Mountain View at 1701 W. El Camino Real, within walking distance of groceries, pharmacies, restaurants and public transit.

 The residential apartment community building will be GreenPoint Rated through the inclusion of the following green design features: solar thermal system, energy-efficient HVAC, energy-efficient lighting and water-conserving fixtures.

Candice Gonzalez


Onsite amenities will include roof decks for socializing, a community room with a computer lab, community kitchen and elevator access on every floor. Van Meter Williams Pollack is the Architect. Branagh Inc. is the General Contractor.

“Palo Alto Housing commends the City of Mountain View for making affordable housing a strategic priority,” said Candice Gonzalez, CEO of Palo Alto Housing. “We truly appreciate the collaboration between our public and private partners. In the middle of Silicon Valley, in one of the most expensive real estate markets in the country, we are proud to honor our veterans and workforce with high-quality, affordable housing in an amenities-rich neighborhood.”

Adrian Schurr
Financing for the $33 million development is provided by the City of Mountain View, County of Santa Clara, U.S. Bancorp, State Department of Housing and Community Development, Veterans Housing and Homelessness Prevention Program, California Housing Finance Agency, California Department of Veterans Affairs and Google. 

"Google is honored to help support the amazing work that Palo Alto Housing is doing,” said Adrian Schurr, Bay Area Program Manager for Google.org. “PAH is an amazing leader in the community and we're excited to see the success of their initiatives."

"It was in June last year where we, as a city, stepped up and invested $8 million in development funds for this Palo Alto Housing Corporation project because it is bringing 67 new affordable homes with easy access to mass transit,” said Mountain View Mayor, Ken Rosenberg. “This project is a great example of how both cooperation and smart development can make our city more accessible by increasing our overall supply of affordable housing and making a great place for our veterans to come home to.”

Palo Alto Housing’s property management division will provide professional, onsite property management. PAH’s resident services division will partner with a network of service providers including the VA Palo Alto and Abode Services to provide robust supportive services to residents. Services will be designed to ensure housing stability, promote health and wellness, and encourage social integration. Palo Alto Housing’s mission is to create stronger, more diverse communities by providing and maintaining high-quality, affordable housing where individuals and families thrive.

Those interested in housing at Eagle Park Apartments may call Palo Alto Housing at (650) 321-9709 and request to be added to the interest list. 

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

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
 830.997.0963