Sunday, June 18, 2017

Avanath Capital Management Increases Stake in Sacramento; Acquires Three Affordable Housing Communities for $56.5 Million


Geneva Pointe Apartments, Elk Grove, CA

SACRAMENTO, CA– Avanath Capital Management, LLC, an institutional fund manager that specializes in affordable and workforce housing investments, has acquired an affordable housing portfolio of three apartment communities totaling 468 units in Sacramento for $56.5 million.

This acquisition nearly doubles Avanath’s footprint in this market, bringing its total concentration of units to 1,034 apartment homes in the Sacramento region.

“Sacramento is one of the hottest real estate markets in the nation right now and is experiencing explosive growth,” asserts John Williams, President and Chief Investment Officer of Avanath.

John R. Williams
“The market has made a tremendous comeback since the Recession and leads the nation in highest annual effective rent growth, with rental increases exceeding 10.5 percent last year. This surge in market-rate rents is placing enormous pressure on renters and driving demand for affordable housing throughout the region.”

Williams notes that a regional migration is underway as the high cost of living in the Bay Area drives renters to the surrounding Sacramento suburbs in search of affordability.

“While still an affordable alternative to the Bay Area, Sacramento is now seeing rapid rent appreciation and not enough supply of quality affordable housing to meet current demand,” continues Williams. 

“This acquisition will allow us to preserve affordability in one of the fastest rent-growing markets in the country, while also amassing economies of scale by bringing our total Sacramento portfolio to over 1,000 affordable units.”

Built in 2005 and 2006 under the Low Income Housing Tax Credit program, the three-building portfolio was 98.5 percent occupied at acquisition and of relatively new vintage, providing strong in-place cash flow and an opportunity to add value through minimal capital improvements, according to Williams.

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

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
kkea@BrowerMillerCole.com

Raintree Partners Announces More Than $500 Million in Mixed-Use Development Projects in California


Jason Check
            LAGUNA NIGUEL, CA – Raintree Partners, an Orange County-based private commercial real estate investment company, is under construction on three mixed-use projects in California totaling more than $500 million in value.

            The projects include a 465-unit apartment and co-working property in Sunnyvale, California; a 109-unit multifamily and retail project in Dana Point, California; and a 92-unit multifamily, co-working, and kayak rental property on the waterfront in San Francisco, California.

            “Mixed-use projects including authentic retail and food options as well as dedicated workspaces for residents have always been a part of great cities,” says Jason Check, Managing Director of Raintree Partners. 

“That said, there has been a rise in demand for these projects over the past five years, as communities seek to increase opportunities for engagement and connection among people and businesses, driving economic growth and delivering higher quality of life for community members.”

            Check attributes the recent increase in mixed-use developments to a shift towards a more urban, walkable way of life that is in demand across the nation.

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

Elisabeth Manville
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third Floor
Newport Beach, CA 92660
p: (949) 955-7940

PMB Selected to Develop New San Antonio Regional Hospital Medical Office Building in Upland, CA


Rendering of Planned Ambulatory Care Medical Office Building,
San Antonio Regional Hospital Campus, Upland, CA

Upland, CA – Development is underway for a 56,000-square-foot, two-story ambulatory care medical office building on the San Antonio Regional Hospital campus in Upland, Calif. that will include a City of Hope community cancer center.

Construction is scheduled to begin the second quarter of 2017, and the building is projected to open in Fall 2018.

 PMB is providing program management, development and design management services for the project on behalf of San Antonio Regional Hospital.


Jim Rohan
The new building is part of a larger, campus-wide project that involves construction of a new four-story patient tower, which opened in January 2017. 

The new Vineyard Tower has 92 private rooms, including a 12-bed critical care unit, as well as a new, 8,000-square-foot emergency department with 52 beds and three major treatment rooms.

“We are delighted to be working with San Antonio Regional Hospital and to be a part of the revitalization of the hospital campus,” says Jim Rohan, SVP Development, PMB.  “It’s rewarding for us to help sustain and grow a private community hospital with a 110-year history of serving the residents in the western region of the Inland Empire.”

The new medical office building will be situated on a three-acre site located on San Bernardino Road across from the hospital’s main entrance. It will replace an existing, functionally obsolete medical office building which is predominately comprised of hospital administrative services.  The building will be demolished and the staff will be relocated to other campus buildings.

City of Hope, a world class leader in cancer treatment and research, will lease approximately 25,000 square feet in the new MOB for a community cancer center. City of Hope services include radiation therapy, infusion services, hematology and medical oncology, general surgical oncology, related surgical subspecialties and clinical trials. The new building will also house San Antonio Regional Hospital’s Women’s Breast and Imaging Center, a community resource center and medical offices.


San Antonio Regional Hospital Campus, Upland, CA
The design of the new medical office building will complement the hospital’s new Vineyard Tower and the local surroundings with the use of a glass curtain wall, metal wall panels, and native landscaping. 

Sustainable design and building practices will be implemented throughout the new facility.  The building will feature custom-designed medical office suites and convenient parking located next to the building.

Maintaining hospital campus operations, parking availability, and minimizing construction debris is at the forefront of PMB’s planning of the project. 

In addition to PMB serving as program manager, HMC Architects, specialists in healthcare design, is providing architectural services for the MOB. Millie and Severson, one of Southern California’s largest and most respected builders, will serve as the project’s general contractor.

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

Jessica Thompson 949-233-8575 / Jessica@spauldingthompson.com

Laura Mickelson 949-295-4452 / LauraMickelson@cox.net

Saturday, June 17, 2017

The Keyes Company Gains Traction with Chinese Investors Hungry for South Florida Real Estate

 
Indra and Haimnath Ragbir

 Miami, FL – The Keyes Company has made substantial inroads with many of the wealthy Chinese investors looking for real estate investments in South Florida and the Caribbean.

During the last three years, the firm has dedicated significant resources focused on China’s exclusive Luxury Property Show – including the LPS Beijing 15th Edition event running June 16-18 and again in Shanghai December 8-10.
 
Recent reports show China is projected to be responsible for nearly $220 billion in direct investment in U.S. commercial and residential real estate from 2016 to 2020. Keyes has positioned itself to take advantage of this trend. The firm began traveling to China for the Luxury Property Show in May 2014 and plans to continue making multiple trips each year for the next decade.

Mike Pappas
Indra and Haimnath Ragbir of Keyes spearhead the China trips. The Ragbir team specializes in luxury residential properties, the EB-5-USA Visa Immigration Program, commercial properties and international buyers.

“Each opportunity to present at the Luxury Property Show gives us access to ultra-luxury real estate investors from all over the world,” said Haimnath Ragbir.  “We’re excited that several South Florida and Caribbean developers have placed the confidence in our team to help market their projects to well-healed international buyers from China, Russia, Middle East, India and Europe.”

In addition to Keyes and Illustrated Properties luxury listings, other properties will also be featured at LPS Beijing including Brickell City Centre (in conjunction with One Sotheby’s), Palazzo Del Sol -Fisher Island, Buena Vista-Key Biscayne, Metropica, Paramount, The Gale, RIVA Residences-Fort Lauderdale, The Grove Resort-Orlando, City Center West Orange, The Reserve at Edgewood, and a The Island Ranches at the South of Abaco.

The Ragbirs will be spending nine days in Beijing with seven Keyes associates building on the relationships they developed at prior LPS events and striking up new ones.

“We are fully committed to the luxury market segment; capitalizing on the inbound offshore business fits perfectly with our strategy,” said Keyes CEO Mike Pappas. 


“The high level of activity generated from each China trip shows us that many Asian and Eastern European investors are seeking U.S. residency and the excellent investment opportunities in our growing South Florida real estate market.”

In 2016, Keyes listed more than one billion dollars in homes valued at more than a million dollars under its Keyes, Illustrated Properties and Platinum Properties brands.  

“The Ragbirs have done a great job building lasting relationships with offshore investors,” added Pappas.  We are excited about the prospects for the upcoming LPS Beijing 15th Edition event.”

For a complete copy of the company’s news release, please contact:
Jasmin Curtiss
PR Coordinator, BoardroomPR

O 954-370-8999

Marcus & Millichap Arranges $700,000 Sale of Sherwin Williams Fall River Site in Fall River, MA


Jaclyn Blair

FALL RIVER, MA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Sherwin Williams Fall River, a 4,852-square foot net-leased property located in Fall River, Massachusetts, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $700,000.
Tim Thompson

Jaclyn Blair, an investment specialist in Marcus & Millichap’s Tampa office represented the buyer, which purchased the property to complete the “up-leg” of a 1031 tax deferred exchange.

  Jaclyn also sold the buyer’s relinquished property as part of the same exchange.  Tim Thompson, Regional Manager of the firm’s Boston office, is the broker of record in Massachusetts.

Sherwin Williams Fall River is located at 555 Pleasant Street in Fall River, Massachusetts. 

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

Ari Ravi
Regional Manager, Tampa

(813) 387-4700

The Keyes Company’s Nash Group Closes $7.5M Bear’s Club Compound Sale in Jupiter, FL



Billy Nash
JUPITER, FL – Billy Nash of The Keyes Company’s Nash Group has announced the sale of a stately compound located in the exclusive Bear’s Club luxury residential and golf course community founded by the legend himself, golfer Jack Nicklaus, and his wife Barbara.

The property was sold to an undisclosed domestic buyer on June 16 for $7,550,000 making it the second highest sale in the Bear’s Club in nine years.

The six-bedroom, seven-bathroom compound at 191 Bears Club Drive represented a rare opportunity to acquire a home within the private Bear’s Club, which includes a championship 18-hole golf course and Par 3 Nicklaus Signature course, as well as a 40,000-square-foot clubhouse.

The community includes numerous celebrity homeowners who covet the exclusivity and amenities. Bear’s Club residents include Michael Jordan, tennis stars Serena and Venus Williams and PGA and LPGA touring pros Luke Donald, Ernie Els and Michelle Wie.

Jack and Barbara Nicklaus

Custom built in 2005, the 191 Bears Club Drive compound has more than 17,000 square feet, with 13,000 square feet under air. The stunning home includes a 2,000-square-foot master bedroom, steam room/sauna and grand staircase that leads to a hallway specifically designed – with wall niches – to showcase fine art collections.

The more than one-acre property has expansive views of the third and fifth holes and is located just one mile away from the beautiful waters of Jupiter and 20 minutes from Worth Avenue in Palm Beach.

Venus and Serena Williams

“Billy Nash and his team did a tremendous job creatively and aggressively marketing this one-of-a-kind property,” said Keyes President and CEO Mike Pappas. “At Keyes, we encourage our Sales Associates to embrace their independence while taking advantage of the innovative technology and other tools we have at our disposal.”

Mike Pappas
The Nash Group uses a world-class marketing approach to bring in potential buyers from around the world. 

The property was featured in a variety of publications, reaching an international audience in 44 countries. 

The property also headlined the Wall Street Journal’s “House of the Day” feature and was later voted to become House of the Week. It is now eligible for the publication’s House of the Year distinction. 

The listing was also worthy of the cover in DuPont Registry’s Fine Home Gallery.

“We are a proactive real estate team,” said Nash. “We don’t wait for the buyers to come to us. We create story lines for our real estate videos to visually stimulate buyers interests in the trophy properties we represent, we listen to the luxury market and most importantly we know how to get our clients to the closing table.”

Coastal Sotheby’s represented the buyer in the transaction.

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

Jasmin Curtiss
PR Coordinator, BoardroomPR

O 954-370-8999

Decades-Strong Tenant Demand Drives $81.75 Million Camelback Corridor Office Building Sale in Phoenix, AZ


3131 and 3133 Camelback office buildings, Camelback Corridor, Phoenix, AZ

Dennis Desmond
PHOENIX, AZ – On behalf of TR Camelback Corp., the Phoenix office of JLL announced the sale of 3131 and 3133 Camelback

The two-building, Class A office property is in the heart of the Camelback Corridor, which has enjoyed an average 93 percent occupancy rate since its delivery to market in 1998.

Archon Acquisition LLC, a Goldman Sachs company, purchased the 295,401 square-foot office asset for $81.75 million.

Senior Managing Director Dennis Desmond and Managing Director Lynn LaChapelle led the deal for JLL. Managing Director Trevor Klinkhamer, Senior Vice President Ray Harris and Director Scott Boardman of Cushman & Wakefield were the property leasing team.

“Exceptional location, quality construction and easy access has kept 3131 and 3133 Camelback a true ‘trophy’ office complex for more than 19 years,” said Desmond. “Archon recognized the past success and future potential of the property, including the strong rental rate growth that the Camelback Corridor is expected to continue to experience over the next five years.”

The office asset is located at 3131 and 3133 E. Camelback Rd. in Phoenix, at the southwest corner of 32nd Street and Camelback Road – one of the most prestigious corners within the Phoenix market. It is surrounded by numerous walkable amenities including 11 restaurants, three banks and a grocery-anchored shopping center, and is minutes from State Route 51 and I-10.


Lynn LaChapelle

Lincoln Property Company serves as the property manager for 3131 and 3133 Camelback, and will retain the property management assignment. JLL Managing Director John Bonnell, Senior Vice President Brett Abramson and Vice President Chris Latvaaho will take over the property’s leasing assignment.

John Bonnell
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients – whether a sale, financing, repositioning, advisory or recapitalization execution. 

In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page:http://bit.ly/18P2tkv.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

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