HFF announces $20 million sale of Chicago-area retail center

Woodgrove Festival         Photo by McShane Fleming Studio

CHICAGO, IL –- Holliday Fenoglio Fowler, L.P. (HFF) announces the $20 million sale of Woodgrove Festival, a 157,276-square-foot retail center in the Chicago-area suburb of Woodridge, Illinois. 

The HFF team marketed the property on behalf of the seller, Kimco Realty Corporation.  North American Real Estate (NARE) purchased the asset. 

Amy Sands

Completed in 1985 and renovated and expanded in 2010, Woodgrove Festival is 88.3 percent leased to Hollywood Blvd. Cinema, Five Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks, T-Mobile, Carrabba’s Italian Grill, Jameson’s Charhouse, Panera Bread and more. 

Additionally, the center is shadow anchored by Kohl’s.  Situated on 15.17 acres at 1001 West 75th Street, Woodgrove Festival is located at the southwest corner of 75th Street and Lemont Road, a highly trafficked intersection with 58,248 vehicles per day in the heart of the 75th Street retail corridor of Woodbridge, a community about 29 miles west of downtown Chicago. 

Clinton Mitchell

More than 103,000 residents with an average annual household income of $105,000 live within a three-mile radius of the center, which services the neighboring communities of Downers Grove, Darien, Lisle, Woodridge and Westmont.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell.

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. 

For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Since 1998, North American Real Estate (NARE) has specialized in the investment and redevelopment of Chicagoland shopping centers.  More information about NARE is available at http://naregroup.com.

CONTACTS:

  

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

AMY SANDS

IL Lic. #475.138622

HFF Senior Director

(312) 528-3650

asands@hfflp.com

CLINTON MITCHELL

HFF Senior Director

(312) 528-3650

cmitchell@hfflp.com

HFF announces $185 million sale of Renaissance Vinoy Resort & Golf Club St. Petersburg, FL

Renaissance Vinoy St. Petersburg Resort & Golf Club, Downtown St. Petersburg, FL

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $185 million sale of the Renaissance Vinoy St. Petersburg Resort & Golf Club, a 362-room, waterfront resort that includes an 18-hole golf course in downtown St. Petersburg, Florida.

The HFF team marketed the hotel on behalf of the seller, RLJ Lodging Trust.

Interior of Renaissance Vinoy St. Petersburg Resort & Golf Club, Downtown St. Petersburg, FL

Listed on the National Register of Historic Places, the iconic pink Mediterranean Revival hotel was originally constructed in 1925 and has been transformed several times throughout its life, including its rebirth in 1992 as a hotel and the on-going, $50 million renovation and expansion of the hotel and the Vinoy Club, one of the most exclusive memberships in Tampa Bay. 

Alexandra Lalos

The Vinoy hotel features more than 32,000 square feet of indoor meeting and event space; a 74-slip marina; 12 tennis courts; an 18-hole, 71-par golf course on Snell Island; the Vinoy Clubhouse and pro shop; and two resort-style pools. 

Daniel C. Peek

 Food and beverage outlets at the Renaissance Vinoy St. Petersburg Resort & Golf Club include Marchand’s Bar & Grill, the recently-opened Paul’s Landing Marina Grill, the Vinoy Club Golf Grill on Snell Isle, the Lobby Bar and Veranda Café. 

The HFF investment advisory team representing the seller included senior managing director and head of HFF’s hotel group Daniel C. Peek, director Preston Reid, managing director Max Comess, senior managing director Roland Merchant, director Alexandra Lalos and associate Wyatt Krapf.

“The Renaissance Vinoy is an iconic asset in the Florida resort market, and the repositioning begun by RLJ Lodging Trust will position it to continue its dominant presence in the Tampa Bay region for decades to come,” Peek said.  “All of us at HFF were pleased to work with the great team at RLJ.”

Preston Reid

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on owning premium-branded, focused-service and compact full-service hotels. 

Max Comess

DANIEL C. PEEK

FL Lic. # SL3230371

HFF Senior Managing Director

(212) 245-2425

dpeek@hfflp.com

PRESTON REID

FL Lic. #SL3333915  

HFF Director

(813) 387-9900

preid@hfflp.com  

Roland Merchant

MAX COMESS

FL Lic. #3301836

HFF Managing Director

(305) 448-1333

mcomess@hfflp.com

ALEXANDRA LALOS

FL Lic. #SL3361476

HFF Director

(305) 448-1333

alalos@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://rljlodgingtrust.com.

HFF announces the $14.42 million sale of Nashville-area retail center

Mallory Corners, Brentwood, TN

 ATLANTA, GA – – Holliday Fenoglio Fowler, L.P. (HFF) announces the $14.42 million sale of Mallory Corners, a 70,000-square-foot community shopping center in the Nashville suburb of Brentwood, Tennessee.

Jim Hamilton

The HFF team marketed the property on behalf of the seller, the estate of Charles S. Ackerman, under advisement from Atlanta-based Ackerman & Co.  Longpoint Realty Partners, LP purchased the asset.

Anchored by Barnes & Noble and Electronic Express, the 96-percent-leased Mallory Corners is also home to Brilliant Sky Toys & Books, Sprint, Hoover Paint, AAA Autoclub and Play it Again Sports. 

 The center is at 1701 Mallory Lane on a highly trafficked and signalized intersection that exposes the center to more than 37,500 vehicles per day in the affluent Cool Springs submarket, one of the densest and most highly sought-after corridors for retailers due to its limited available space and high barriers to entry. 

Shea Petrick

 The center has easy access to Interstate 65, the main artery connecting Nashville to Birmingham, and is about 16 miles south of downtown Nashville.  More than 95,079 residents earning an average annual household income of $169,284 live within a five-mile radius of Mallory Corners.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton and analyst Shea Petrick.  

Leo Wiener with Ackerman Retail, a division of Ackerman & Co., is acting as an advisor to the estate of Charles S. Ackerman.

Leo Wiener

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.  

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.  

To date, Ackerman & Co. has developed and acquired 35 million square feet of office, medical, industrial, retail and mixed-use space, has eight million square feet under management and maintains an investment portfolio valued at $1 billion. 

Dwight Angelini

Longpoint Realty Partners, LP (“Longpoint”) is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston, Massachusetts.

 The firm focuses on maximizing risk adjusted returns by employing a fundamental value strategy to real estate investing.  Longpoint seeks to take advantage of secular changes in consumer behavior by acquiring “last mile” industrial and infill retail properties. 

 Founding Partners Dwight Angelini, Nilesh Bubna, Reid Parker and Robert Provost have worked together for the better part of 10 years and have successfully navigated multiple market cycles.  Visit for more information.

CONTACTS:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

JIM HAMILTON

TN Lic. #320889

HFF Senior Managing Director

(404) 832-8460

jhamilton@hfflp.com

www.ackermanco.com.
 http://www.longpoint.com

HFF announces $56 million refinancing of the Baltimore Washington Logistics Center in Jessup, MD

Daniel McIntyre

WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announces a $56.325 million refinancing for the Baltimore Washington Logistics Center, a two-building, Class A industrial complex totaling 1,013,728 square feet in Jessup, Maryland. 

The HFF team worked on behalf of the borrower, a joint venture between AEW Capital Management, L.P. and Columbia-based Manekin, LLC, to secure the loan through Citizens Bank.

The Baltimore Washington Logistics Center is located at 7600 and 7540 Assateague Drive in the heart of the Baltimore-Washington Corridor. 

This location has excellent access to U.S. Route 1, U.S. Interstate 95 and the Baltimore Washington Parkway (Route 295), three of the Mid-Atlantic region’s primary thoroughfares. 

Fred Wittmann

Additionally, the property is not far from BWI Thurgood Marshall Airport and the Port of Baltimore.  7600 Assateague Drive is a vacant warehouse/distribution building totaling 853,503 square feet. 

Building II (7540 Assateague Drive) is a 160,255-square-foot, refrigerated warehouse/distribution building that is fully leased to G Cefalu & Bro, a leading food service distributor of produce and seafood in the Mid-Atlantic region.

The HFF debt placement team representing the borrower included senior director Daniel McIntyre, senior managing director Fred Wittmann and managing director Greg LaBine.

CONTACTS:

DANIEL MCINTYRE

HFF Senior Director

(202) 533-2500

dmcintyre@hfflp.com

GREG LABINE

HFF Managing Director

(617) 338-0990

glabine@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

aew.com.

manekin.com 

HFF announces acquisition financing for Charlotte, NC retail strip center

Seneca Place, 5033 South Boulevard, Charlotte, NC

CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad located in Charlotte, North Carolina.

The HFF team worked on behalf of the borrower, Charlotte-based New Forum, to place the floating-rate loan with Ready Capital Structured Finance. 

Cory Fowler

Seneca Place comprises a 34,710-square-foot retail strip center and a 6,600-square-foot outparcel pad that features a diverse mix of tenants. 

Through a thoughtful renovation plan, New Forum plans to increase occupancy by attracting a contemporary tenant mix that will reposition the property as experiential retail. 

 Situated on 4.21 acres at 5033 South Boulevard, Seneca Place in the heart of the rapidly growing Madison Park, Montclaire and Archdale communities and is approximately three miles northwest of South Park and seven miles south of Uptown Charlotte. 

 More than 91,700 residents earning an average household income of $103,279 live within a three-mile radius of the center.

The HFF debt placement team representing the borrower consisted of senior director Cory Fowler.

CONTACTS:

CORY FOWLER

HFF Senior Director

(704) 526-2800

cfowler@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

 https://www.newforum.net 

https://www.waterfallam.com

Illustrated Properties’ Kathryn Gillespie Obtains $24.9 Million Oceanfront Mansion Listing in Manalapan, FL

Manalapan, FL Mansion at 1500 South Ocean Boulevard
For Sale at $24.9  Million

Manalapan, FL – Kathryn Gillespie of Illustrated Properties, a member of The Keyes Family of Companies, has secured the exclusive listing of a waterfront mansion in Manalapan with an asking price of $24.9 million.

Located on a 1.6-acre lot, the six-bedroom home at 1500 South Ocean Boulevard totals 11,673 square feet under air and includes nine full and three half-bathrooms.

The estate has a total of 356 feet of waterfront property, of which 178 feet are on the Atlantic Ocean. The waterfront loggia, 60-foot concrete dock equipped with electricity and infinity edge pool and spa round out the amenities that provide the one-of-a-kind experience synonymous with the South Florida lifestyle.

Kathryn Gillespie

Along with multiple bedroom balconies overlooking the Intracoastal Waterway, the Manalapan mansion includes a his and her master bath, private office, guest suite, gathering lounge, club/media room with state-of-the-art sound system and wet bar, fireplaces, exercise room, gourmet kitchen with Sub-Zero and Wolf appliances, wine chiller, elevator, upstairs and downstairs laundry rooms and four car-stall air conditioned garage, with the potential to park eight cars.

“This is not just a home - it’s a work of art,” said Gillespie. “When I took on this listing, I knew a home of this caliber was special. From the attention to detail both in the home and out, the breathtaking waterfront sunrises and sunsets and the natural flow from room to room, the energy the house conveys is like no other.”

Randall Stofft

The 1500 South Ocean Boulevard mansion was designed by Randall Stofft Architects and constructed by Terry Cudmore Builders in 2008.

“Kathryn’s work in the Palm Beach County luxury market has been outstanding,” said Kevin Leonard, Vice President of Luxury at Illustrated Properties. “In just a short period of time, we have seen her produce a level of work that is unmatched, while surpassing the expectations in quality service we look to provide to each client.”

In June, Gillespie’s exclusively listed Boca Raton mansion was selected as a finalist in HGTV’s international “Ultimate House Hunt 2018.” The 899 Enfield Street home, which is on the market for $11.5 million, was one of 12 worldwide properties to be chosen for the “Waterfront Homes” category.

Gillespie has lived and worked in the Palm Beach County area for more than 30 years, providing her a deep connection to the area and her clients.

 She has been heavily involved in the local community, serving as past chair of the Boys and Girls Club Board of Directors in Boca Raton and is involved with The Arc of Palm Beach County and Impact 100 Palm Beach County.

Kevin Leonard

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate.

In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the sales volume of their closest competitor.

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

HFF announces $18 million sale of Lakewood, WA, apartment community

The James Apartments, Lakewood, WA          Photo by Holland Photography                                                                                                  

Ira Virden

SEATTLE, WA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.05 million sale of The James, a 144-unit, garden-style apartment community in Lakewood, Washington.

The HFF team represented the seller, FPA Multifamily, LLC, and procured the buyer, Watt Companies.

The James is located at 4828 123^rd Street SW near several of Pierce County’s largest employment drivers, including the adjacent Joint Base Lewis-McChord (JBLM). 

 Additionally, the property provides immediate access to various Seattle MSA commuting options such as Interstate 5 and the Sound Transit Lakewood station. 

Christopher Ross

 The 14-building property consists of studio, one-, two- and three-bedroom units averaging 731 square feet.  Originally constructed in 1976,

 The James has recently undergone significant common area improvements, including siding replacement, the addition of balcony enclosures, updated landscaping, new signage, a resurfaced parking lot, clubhouse and fitness center remodel and renovations/upgrades to approximately 50 percent of the units.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Christopher Ross.

CONTACTS:

IRA VIRDEN

WA Lic. #108308

HFF Senior Managing Director

(503) 224-0444

ivirden@hfflp.com

CHRISTOPHER ROSS

WA Lic. #105465

HFF Director

(206) 576-0031

cross@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

http://www.fpamf.com/.

Marcus & Millichap Brokers $1.32 Million Sale of 12,740-SF ABRA Auto Body & Enterprise Rent-a-Car Site in Cincinnati, OH

Scott Gould

CINCINNATI, OH, Sept.  7, 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 ABRA Auto Body & Enterprise Rent-a-Car, a 12,740-square foot net-leased property located in Cincinnati, OH, according to Justin W. West, regional manager of the firm’s Orlando office.

The asset sold for $1,325,000.

Scott Gould, Ray Turchi, and Chris Travis, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

Ray Turchi

The buyer, an Ohio based investor, was secured and represented by Joel Dumes, an investment specialist in Marcus & Millichap’s Cincinnati office.

 “This was an opportunity for the Seller to reposition his capital and take advantage of the market,” said Gould. “The location has a long history of successful performance that bodes well for the future.”

ABRA Auto Body & Enterprise is located at 6947 E Kemper Rd in Cincinnati, OH.

ABRA has three decades of auto body repair experience with state-of-the-art collision repair technology. The company is committed to taking care of its customers’ auto repairs through quality workmanship, superior service, and dedication to detail in everything they do.

 Contact:

Justin W. West

Vice President / Regional Manager, Orlando

(407) 557-3800

 www.MarcusMillichap.com

NAI Realvest Closes Long-Term Lease on a 6,000+ SF Building in Springview Industrial Park, DeBary, FL for Expanding RV Service Firm

Michael Heidrich

DeBARY, FL – NAI Realvest recently closed on the long-term lease of a 6,020 square foot stand alone industrial building at 220 Springview Commerce Drive , in the Springview Industrial Park in DeBary.

Michael Heidrich, a principal of the firm, brokered the transaction representing the local landlord Lakeside Professionals, LLC.  

 The new tenant, KA RV Repair, LLC of Deltona, consists of a team of experts providing complete recreational vehicle services including both in-shop and mobile repairs.   

Springview Industrial Park is located off Shell Road andUS Highway 17-92 in DeBary north of Orlando .

 Contacts:

Michael Heidrich, Principal, NAI Realvest
407-875-9989  mheidrich@realvest.com

Robin L. Webb, CCIM, Managing Director, NAI Realvest, 
407-875-9989  Rwebb@realvest.com

Patrick Mahoney, President, NAI Realvest
407-875-9989  pmahoney@realvest.com

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

www.NAIrealvest.com.

RIVERGATE KW RESIDENTIAL Expands Bluerock Real Estate Relationship with New Charlotte Assignment

  

Rendering of Ashton Reserve at North Lake, Charlotte, NC

 Charlotte, N.C. (Sept. 6, 2018) — RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has secured a new management assignment near the Northlake Mall in Charlotte.

The addition of the 473-unit Ashton Reserve at Northlake expands the company’s existing relationship with community owner Bluerock Real Estate.

RKW also manages five other Bluerock assets in the Carolinas and Florida including Arlo, which is a lease-up near Uptown Charlotte.

Marcie Williams

“We are thrilled to get this new assignment after our successful partnership with Bluerock,” said Marcie Williams, president of RKW.

“This continues what has been a historic year in the life of our company. Fueled by our leadership, staff and incredible team of managers on the ground, RKW is reaching new heights in our home base of Charlotte and beyond.”

The Ashton Reserve addition bolsters RKW’s aggressively expanding portfolio, which now totals more than 13,000 units. That growth is leading to significant accolades for the company.

For instance, the Charlotte Business Journal recognized RKW in its annual list of the largest property management companies in the area for the first time in the company’s four-year history.

Sarah Girand

Located at 10320 Grobie Way, Ashton Reserve offers a mix of high-end one, two and three-bedroom apartments. Unit features include plank flooring, large soaking tubs, walk-in closets, elegant kitchens with chef islands and granite countertops and washer and dryers.

Community amenities include a dog park, car care center, private media center, propane grilling stations, valet dry cleaning service, a state-of-the-art fitness center and cyber café with Wi-Fi printing.

Ashton Reserve residents can take advantage of the community’s proximity to Northlake Mall – a premier retail destination. The community also promotes an active outdoor lifestyle, with walking trails surrounded by lush landscaping and a large fire pit where friends can gather and enjoy the beautiful Charlotte evenings.

“We have enjoyed our working relationship with RKW and look forward to expanding on it with Ashton Reserve,” said Sarah Girand, Senior Vice President of Asset Management for Bluerock “We have no doubt that our residents will be in great hands and have all of their needs met.”

  

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.ashtonreserveatnorthlake.com.