Trez Forman Capital Group Announces Two New Hires

Jeff Gersh

Palm Beach, FL, July 24, 2018— Trez Forman Capital Group, a leading private commercial real estate lender, has added two new professionals to its growing team.

Jeff Gersh joins as a Senior Vice President of Finance.  He handles all financial aspects of the firm’s deal and business operations reporting directly to CEO/President Brett Forman.

Gersh has more than 30 years of financial and operational experience in the real estate industry, and over that time, has completed more than $500 million in commercial real estate transactions.  He’s held executive leadership positions related to a wide range of investment strategies and structures.

Ben Gluck

Prior to joining Trez Forman, Gersh was Area Vice President for the Florida Division of Shea Homes Active Adult Lifestyle Communities.  He was responsible for setting up the builder’s operations in the state.  He also served as Vice President for Victoria Park, an award-winning multi-generational community north of Orlando.

Gersh earned both his Bachelor of Science in Accounting and his MBA from the Wharton School of Business at the University of Pennsylvania.

Trez Forman also announced the hiring of Ben Gluck as an Associate in the Credit Risk and Underwriting Department.   Gluck most recently worked as a Real Estate Analyst for Capital Properties where he supervised the financial performance for residential, commercial and hotel assets.

Prior to his job at Capital Properties, he worked for Deloitte’s Real Estate Consulting Practice performing fair value analyses and valuations for multiple property types.

Gluck earned a Bachelor of Business Administration in Finance and Economics from Queens College.

For more information, please contact:

BoardroomPR

Todd Templin, ttemplin@boardroompr.com

Eric Kalis, ekalis@boardroompr.com

954-370-8999

www.trezforman.com.

Top-Producing Mortgage Originator Raymond Bravo Joins Draper and Kramer Mortgage Corp. at New Branch in Palos Park, IL

Raymond Bravo

PALOS PARK, IL – Draper and Kramer Mortgage Corp., one of the Top 75 Mortgage Companies in America, announced that top-producing mortgage originator Raymond Bravo joined the company as senior vice president of residential lending.

Bravo now heads a newly opened branch for the national lender in Palos Park, Ill.

A mortgage originator for 38 years, Bravo has originated a career total of more than $1 billion in home loans to assist his clients in purchasing or refinancing their homes. 

Robert Moos

Prior to joining Downers Grove, Ill.-based Draper and Kramer Mortgage Corp. (DKMC), he was a branch manager for another Chicagoland lender.

“I’m excited to have joined a new lender, opened a new branch and gained access to a range of new loan products,” said Bravo. “Many of my clients are first-time homebuyers, and Draper and Kramer Mortgage offers many specialized programs for this type of borrower that I’m looking forward to providing.”

“I’ve known and respected Raymond for many years, and I’m proud that he’s decided to join our company,” said Bob Moos, vice president of sales at DKMC. “He’s been impressed with our reputation, and we’ve been impressed by his. I know he’ll accomplish a lot here.”

Bravo’s new branch is located at 13011 S. 104th Avenue, Suite 204 in Palos Park, Ill. He can be reached at

708-480 6350

raymond.bravo@dkmortgage.com or www.dkmortgage.com/bravo.

For more information, please contact:

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

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

Hanley Investment Group Arranges Sale of New Dunkin’ Donuts and Bank of America in Denver, CO Metro Area

New Retail Building, 13591 Huron Street, Westminster, CO

WESTMINSTER, CO -- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has completed the sale of a new construction, freestanding, multi-tenant retail building at 13591 Huron Street in Westminster, Colorado.

Jeff Lefko

 The three-tenant building includes Dunkin’ Donuts with a drive-thru, Bank of America ATM and Huron Liquor. 

The purchase price was $3,250,000, representing $603 per square foot. The property closed at a 5.9 percent cap rate, one of the lowest cap rates for a multi-tenant retail pad in the Denver MSA.

Bill Asher

Hanley Investment Group Vice President Jeff Lefko and Executive Vice Presidents Bill Asher and Jeremy McChesney represented the seller, Mark Development Inc. of Redlands, California. Peter Peluso of Legend Partners in Denver represented the buyer, a private investor from Florida.

“We generated 14 offers within the first two weeks of marketing the property due to the quality of the location – a high-traffic, signalized intersection in an affluent, fast-growing Denver submarket – and the quality of the tenants on long-term leases in a newly constructed building,” said Lefko.

Jeremy McChesney

 “The strength of the asset and its fundamentals created an immediate bidding war which resulted in a sale price over the original list price and one of the lowest cap rates for a multi-tenant retail pad in the Denver MSA.”

The 5,389-square-foot building was built in 2016 and is situated on 1.15 acres at the signalized intersection of Huron Street and 136th Avenue in Westminster. All three tenants have initial 10-year leases with fixed rental increases, according to Asher.

“The Dunkin’ Donuts’ lease was very appealing to investors as it was guaranteed by a 400+ unit operator,” said McChesney. “The franchisee is extremely experienced operating brands including Little Caesars Pizza, Wingstop, Red Robin Gourmet Burgers and Brews, and Sizzler. 

Peter Peluso

"It was a very attractive characteristic to the asset that created a tremendous volume of interest and was viewed by investors similar to purchasing an investment with a corporate guaranty such as a Starbucks.”

Bank of America has a 900-square-foot location at the property and it is the company’s new ATM prototype.

“The investment offers a secure and stable income stream with internet-resistant tenants positioned for long-term success,” said Asher. “The property also benefits from over 270,000 people in a five-mile radius and an average household income exceeding $110,000 in a one-mile radius.”

There are over 33,000 cars per day at the intersection of Huron Street and 136th Avenue with points of ingress and egress from both streets, Lefko notes.

For more informaion, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963

 www.hanleyinvestment.com. 

Full-service Title Agency Proper Title, LLC, Expands in Oak Brook, IL

 

David Garside

CHICAGO, IL — Palatine, Ill.-based Proper Title, LLC, the second-largest title agent in Illinois, announced the opening of its new office in Oak Brook at 1010 Jorie Boulevard, near the intersection of Interstate 88 and Route 83.

The company’s previous Oak Brook office was just down the street from its new location, but due to increased business, Proper Title needed a larger space to accommodate its growing client base.

“We knew we didn’t want to leave this area as Oak Brook offers a great centralized location to serve the Western suburbs, a robust market where we see strong growth potential,” said David Garside, executive vice president of title and escrow operations at Proper Title.

“This larger Oak Brook location is the second new office we have opened in less than a year, which speaks to the rise in the number of closings we have experienced since launching the company five years ago.

"In fact, this past June marked a record-breaking number of closings since we opened in 2013.”

For more information, please contact:

Traci Failla, tfailla@taylorjohnson.com, (312) 267-4516

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

Sales Start This Fall at Lexington Reserve at Oak Park, a New Community of 21 Rowhomes in Oak Park, IL

 

Lexington Reserve at Oak Park Row Homes, Oak Park, IL

  

CHICAGO, IL — This fall, Lexington Homes will make its homebuilding debut in Oak Park, Ill., the popular “surban” village just west of Chicago’s city border. Lexington Reserve at Oak Park will offer 21 rowhomes within walking distance to all the amenities of downtown Oak Park. Unique for this type of home in this area, one floor plan at Lexington Reserve will offer the option for an elevator.

Jeff Benach

Located on Madison Street, between Home and Clinton avenues, Lexington Reserve will bring the builder’s time-tested, popular rowhome floor plans to this sought-after area known for its great dining destinations, entertainment, recreation and acclaimed schools. 

“Oak Park is consistently one of the most in-demand suburbs because of its proximity to the city along with its rich cultural amenities, and we are thrilled to be building our first community here,” said Jeff Benach, principal of Lexington Homes. 

“The village is a great fit for our homes because much of the existing housing stock is older and requires more maintenance than most buyers want to tackle. 

"We expect to see great interest in our new-construction, maintenance-free homes from right-sizers whose kids have flown the nest as well as young professionals and families looking for a new home that has all the modern finishes without all the upkeep.”

For more information, please contact:

 Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com, (312) 267-4514

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

Marcus & Millichap Brokers $6.7 Million Sale of 29,343-SF Fitness Facility in Cape Coral, FL

Around the Clock Fitness, Cape Coral, FL

Jim Shiebler

 

CAPE CORAL, FL,  July 23, 2018 – 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 Around the Clock Fitness, a 29,343-square foot net-leased property located in Cape Coral, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $6,775,000.

Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.                            

“Through the power of Marcus & Millichap’s massive national platform and access to the largest qualified buyer pool, we were able to source multiple offers for the sale leaseback opportunity. 

James Garner

"Ultimately, we selected a large institutional investment company from Arizona which demonstrates M&M’s ability to access and import capital from coast to coast. The transaction went from contract to close in 23 days and sold for 98% of list price.” says Mr. Shiebler.

            Around the Clock Fitness is a 24-hour fitness club located in Cape Coral, Florida. The building, professionally remodeled in 2017, boasts over 29,000 square feet of affordable luxury fitness equipment and amenities. Amenities include group fitness classes such as Zumba, spinning, Yoga, personal training, group training, Tribe Training, CrossFit, Kids Zone and a 24-hour Juice Bar.

James Medefind

Around the Clock Fitness is located in the heart of Cape Coral, just west of the center of Fort Myers. 
There is a local population of over 100,000 people within a five-mile radius of the property and a median age of 38.5 years. 
These demographics are ideal for this tenant and makes this investment opportunity attractive to nearly all investors. 
Around the Clock Fitness is located at 1141 SW Pine Island Rd in Cape Coral, Fla. 

For more information, please contact:

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

Stos Partners Completes $100 Million in First Half Transactions

CJ Stos

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, has announced approximately $100 million in transactions during the first six months of 2018.

     “Transaction velocity is rapid in the San Diego industrial market, and savvy investors are faring very well when it comes to taking assets full-cycle,” says CJ Stos, Principal of Stos Partners.

“As experienced investors, we remain cognizant of where we are in the cycle, ensuring that our actions are strategic and thoughtful,” Stos continues. “By being selective in our acquisition strategy, we have been able to leverage the power of the current market, while also building a strong portfolio of assets that will perform well for the long-term.”

For more information and a rundown on the acquired properties, please contact:

Alex Caswell / Jenn Quader

Brower Group

(949) 955-7940

acaswell@brower-group.com

Native Realty Arranges Lease for New Flagler Village Bar/Live Music Venue

Sara Dorfman

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale commercial real estate firm led by Jaime Sturgis, successfully arranged a lease on behalf of the founders of Rank & File Social Club, a cocktail lounge and live music venue scheduled to open in Fort Lauderdale’s Flagler Village neighborhood in early October.

 The firm’s Sara Dorfman represented Rank & File in the transaction.

Stephen Barbagallo

The lease is for a 3,000-square-foot venue that can seat up to 100 patrons at 702 NE First Ave. 

Rank & File is set to join a growing restaurant and entertainment scene in the increasingly popular Flagler Village, where Native Realty is based at 908 North Flagler Drive.

Brothers Mark and Stefano Barbagallo created the Rank & File concept, which is inspired by throwback neighborhood bars where patrons and bartenders are on a first-name basis. 

The brothers plan to focus on local acts for the music program and have arcade-style video games and board games on the venue’s garden patio.

Dorfman guided the Rank & File founders through a search of available Flagler Village locations and the negotiation of lease terms, which were not disclosed.

Amanda Roy

“We are thrilled to help Mark and Stefano bring Rank & File to our home base of Flagler Village,” Dorfman said. “This transaction underscores the neighborhood’s emergence as a hub for creative entertainment concepts.

We look forward to continuing to play an active role in the evolution of Flagler Village.”

The Rank & File transaction continues a busy stretch of activity for Native Realty.

Jaime Sturgis

On June 29, Sturgis and Amanda Roy closed the $6.75 million sale of mixed-use Seagrape Commons, a fixture in Lauderdale-by-the-Sea for more than 50 years.

In May, Dorfman completed the record-breaking sale of an Airbnb rental property in Fort Lauderdale’s popular Victoria Park neighborhood.

 The 808-812 NE 16th Terrace property changed hands for $1.65 million, the highest sale price in Victoria Park since at least 2006 and the most expensive in the history of the neighborhood on a price per unit basis.

For more information, please contact:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.nativere.com. 

Daum Commercial Helps Dedeaux Properties Sell Seven Industrial Buildings in Los Angeles County for $50 Million

Dennis Sandoval

CITY OF INDUSTRY, CA – DAUM Commercial Real Estate Services has directed the individual sales of seven buildings that together comprise Echelon Business Park, a newly-constructed industrial campus in the City of Industry, California on behalf of the seller and project developer, Los Angeles-based industrial development firm Dedeaux Properties. The total consideration of all sales was approximately $50 million. 

The seven freestanding buildings, which range in size from 27,438 to 43,166 square feet, received offers on building plans well before the project broke ground, according to Dennis Sandoval, Executive Vice President and Branch Manager in DAUM’s City of Industry office.

Bryan Sandoval

“The rapid sale of these assets demonstrates the pent-up demand for industrial ownership opportunities in Los Angeles County, particularly in infill industrial submarkets like the San Gabriel Valley,” says Sandoval, who directed the transactions along with DAUM Executive Vice President Robert Dipre and Associates Bryan Sandoval and Kurt Yacko.

“The buildings were under contract since last year, before the foundation for the project was even laid. 

"We eventually received back-up offers on each of the properties and ultimately sold to seven separate buyers, including a mix of distribution and light manufacturing users.”

Robert Dipre

Industrial vacancy in the San Gabriel Valley consistently hovers just above 1.5 percent, with smaller, newer, dock high product vacancies often at less than one percent, notes Sandoval.

“After directing the sale of the land parcel to Dedeaux Properties last year, we worked closely with the developer to outline the strategy on this project,” explains Sandoval. “We understood the tremendous demand for industrial space and recognized that most new industrial developments in the region are over 100,000 square feet.
"We advised Dedeaux to leverage the market demand by constructing smaller-sized facilities in the 25,000 to 45,000 square-foot range, rather than a single large building. 

Kurt Yacko

"These buildings immediately filled a void in the market for modern product suited to smaller distributors and manufacturers, meeting the significant demand for property ownership in the small industrial sector.”

The buildings feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling, and two-story office space. 

The Echelon Business Park campus also offers 60, 10, and 605 Freeway access allowing convenient routes to the Ports of Los Angeles and Long Beach.

Echelon Business Park is located at 801-821 Echelon Court in City of Industry, California.

  

For more information, please contact:

 Elisabeth Manville / Jenn Quader

Brower Group

(949) 955-7940

emanville@brower-group.com