NAI Realvest Charles Wayne Commercial Closes on $1.14 Million Sale of 44 Residential Lots in Lake Helen, FL

Woods of Lake Helen Model Home,
West Volusia County, FL

Lake Helen, FL – NAI Realvest Charles Wayne Commercial, a local real estate industry leader with a global footprint, has closed on the $1.14 million sale by D.R. Horton Inc. of 44 estate-size homesites in the Woods of Lake Helen in West Volusia County .

Steve Costa, Associate at NAI Realvest Charles Wayne Commercial, negotiated the transaction on behalf of the seller.  Costa worked closely with the City of Lake Helen and its Historical Board to ensure the buyer would be a good fit for the City’s architectural gateway standards that maintain an Old Florida feel.

Melbourne-based Vintage Estate Homes, the buyer who plans to build single-family homes in a variety of architectural styles on the finished lots,  is building similar homes at Oakland Park in Winter Garden, Fla. 

Steve Costa

“The City of Lake Helen became convinced about the quality of Vintage Estate Homes’ designs, and they are now enthusiastic about seeing the subdivision move forward,” said Costa.

Vintage Estate Homes will be completing and opening models in the spring-summer of 2019 at the Woods of Lake Helen located off Main Street in the rural town southeast of DeLand.  

CONTACTS

Steve Costa, Associate, NAI Realvest Charles Wayne Commercial
386-804-7259 scosta@realvest.com

Larry Vershel or Beth Payan, Larry Vershel Communications

407-644-4142 lvershelco@aol.com

www.NAIRealvest.com.

www.charleswayne.com. 

Select Strategies Realty Announces $78 Million Portfolio Acquisition in Metro St. Louis, MO

Reynolds Thompson

CINCINNATI, OH -- Select Strategies Retail Holdings V, LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, announced the completion of its $78.4 million acquisition of a seven-property shopping center portfolio in the greater St. Louis metropolitan area.

The 1,100,000 square foot portfolio is 91% leased and is anchored by a strong group of national tenants including ALDI, Fresh Thyme, Burlington and Planet Fitness.

Select Strategies Retail Holdings V made the acquisition on behalf of the firm’s principals and investment partners.

“Select’s investment strategy is driven by our analysis of retail trade areas, synthesized with our proprietary STAR methodology,” said Reynolds Thompson, chairman and chief investment officer.

“We combine an operator’s perspective with decades of investment experience, which allows us to identify unique investment opportunities with significant value-add components.”

Jeremy Sain

The HFF team that represented Select Strategies Retail Holdings V was led by managing director Jeremy Sain.

The St. Louis properties include Creve Coeur at 955 Woodcrest Executive Drive and 12139 Olive Boulevard; Kings Highway at 4650 Lansdowne Avenue; LeMay Shopping Center at 1000 LeMay Ferry Road; Gravois Plaza at 3727 Bamberger Ave.; Kirkwood Crossing at 1259 S. Kirkwood Rd. and Overland Crossing at 8901 Page Avenue.

 The portfolio also includes Fairview City Centre in Fairview Heights, Illinois.

The portfolio’s anchor tenants include The Home Depot, Fresh Thyme Farmer’s Market, ALDI, Office Max, Kohl’s, Home Goods, Dick’s Sporting Goods, Burlington Coat Factory, Hobby Lobby and Planet Fitness.

“We know this market well,” said Brian Neltner, CEO of Select Strategies Realty. “We have Select professionals on the ground in these specific sub-markets, so we can apply our leasing, development and management expertise to these assets.

Brian Neltner

"Given our long-standing presence and experience in this market, we expect to provide strong current returns and create long-term value for our investors.”

This transaction reflects the latest success of the Select Retail Advisors program, formed in 2015 to pursue investment opportunities on behalf of the firm’s principals and investment partners.

The value of transactions sponsored by Select now exceeds $175 million.

"We are appreciative of the opportunity to purchase these assets in a direct manner, which we believe is reflective of our reputation as buyers and operators in our primary markets", commented Neltner.

“We continue to see a disconnect between the investment community’s perception of risk and the risk we believe to be reality,” said Thompson.

 “There is an opportunity to identify attractive assets as public and institutional investors exit certain markets. Select’s trade area oriented investment protocol provides the framework for identifying these types of opportunities.”

Holiday Fenoglio Fowler, L.P. (HFF) provided advisory services to Select Strategies Retail Holdings V relating to the sourcing of debt capital for this portfolio. HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital market services to the global commercial real estate industry.

CONTACTS:

Natalie Hastings

513.376.2728

 natalie@nataliehastings.com

NAI Realvest Negotiates $600,000 Sale Price for Fern Park, FL Office and Retail Plaza

Legacy Plaza, 172-182 Oxford Road. off State Road 436
in Fern Park, FL

 

Tai Lee

FERN PARK, FL / ORLANDO , FL. --- NAI Realvest recently closed on the $600,000 investment sale of Legacy Plaza , a six-unit, office / retail building at 172-182 Oxford Rd. off SR 436 in Fern Park .    

NAI Realvest Associate Tai Lee, CCIM, negotiated the sale representing the local Seller Valerie Bombino.   

Hamtaee Enterprise, LLC, a Winter Haven investment firm, is the buyer of the 5,040 square foot building constructed in 1970 on 0.21 acres.   The property which is 80 percent leased, was purchased for investment only.    

Esmaeil Hamtaee

Esmaeil Hamtaee of Coldwell Banker represented the buyer in the transaction. 

CONTACTS:

Tai Lee, CCIM, Sales and Leasing Associate, NAI Realvest 

407-875-9989 tlee@realvest.com;

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan or Larry Vershel, Larry Vershel Communications

407-644-4142 beth@larryvershel.com

 

www.nairealvest.com.

HFF announces $30 million financing for three-property office portfolio in Burlington, MA

Blanchard Woods Office Complex, Burlington, MA

Porter Terry

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces $30 million in financing for Blanchard Woods, a three-property office portfolio totaling 194,421 square feet in the suburban Boston community of Burlington, Massachusetts.

The HFF team worked on behalf of the borrower, Duffy Properties, to secure the 11-year, fixed-rate permanent loan through Nationwide Life Insurance Company. 

Blanchard Woods comprises 76, 78 and 80 Blanchard Road, which are strategically located on 8.26 acres directly abutting Route 128/Interstate 95 approximately 13 miles north of Boston. 

 The property benefits from its location in the Route 128 North office submarket of greater Boston and more specifically, Burlington, which has a strong and growing amenity base, proximity and easy access to Boston’s downtown and suburban employment centers and is home to recent developments such as the 3^rd Avenue lifestyle center, The District and Wayside Commons. 

Martha Nay

The three Class A office buildings were renovated or completed between 2011 and 2014 and feature a cafeteria and two fitness centers.  Collectively, Blanchard Woods is 91 percent leased to 19 tenants, including anchor tenant Cambridge Trust.    

The HFF debt placement team representing the borrower included senior director Porter Terry and director Martha Nay.

“Our client developed a best-in-class asset with a goal of holding it long-term for their own account,” Terry said.  “Working with Nationwide, HFF was able to provide a long-term, fixed-rate financing option with compelling terms that helped them realize this goal.”

CONTACTS:

PORTER TERRY

HFF Senior Director

(617) 338-0990

pterry@hfflp.com

MARTHA NAY

HFF Director

(617) 338-0990

mnay@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

duffyproperties.com. 

  

Bridge Investment Group’s Subsidiary (Bridge Office Fund Manager LLC) Acquires O’Hare International Center Office Complex in Rosemont, IL

O'Hare International Center, Rosemont, IL

Brian Tretinik

ATLANTA, GA  – Bridge Investment Group’s Office Division announced today the acquisition of O’Hare International Center (“OIC”), a pair of nine-story Class-A office towers adjacent to O’Hare International Airport in Rosemont, IL totaling 517,640 square feet of premier workspace and located in the heart of Chicago’s top urban-suburban office submarket. 

OIC offers close proximity to hotels, retail, restaurants and entertainment. OIC also presents unparalleled connectivity, with the O’Hare Transfer Metra Station less than 100 yards away that provides direct access to downtown Chicago, the new Consolidated Rental Car Facility located across the street that will provide direct tram connection to O’Hare International Airport and the CTA Blue line, a shuttle providing access to the Chicago Transit Authority Blue Line, and easy access from both I-90 and I-294 to an 1,800+ parking facility.

Rob Lundin

More than $5 million in capital improvements are planned for the campus, including significant cosmetic renovations to both lobbies, a new tenant amenity lounge connected to new outdoor amenity space, next-generation spec suites, conference center, as well as modernized corridors, restrooms, and elevators. Renovations are expected to begin in mid-October.

Originally built between 1984 and 1987, O’Hare International Center is currently 83 percent occupied. 

The property has undergone nearly $4 million in renovations since 2012, with a new state-of-the-art fitness center and upgrades to the 1,800+-space parking deck among the recent improvements. 

Across the street, the airport is in the final stages of building a new nine-story, intermodal facility that will house all long-term parking and rental cars and offer a direct connection to the CTA Blue Line. 

John Clark

The campus is also adjacent to the Sheraton Chicago, The Holiday Inn & Suites, and the popular Harry Caray’s Italian Steakhouse.

 “The repositioned O’Hare International Center will be a vibrant workplace campus that blends urban-style amenities and entertainment with the suburban convenience and affordability that appeals to today’s workforce,” said Brian Tretinik, Managing Director with Bridge Investment Group.

“The O’Hare submarket is home to several Fortune 500 companies and currently boasts the highest Class-A rents and lowest vacancy rate in suburban Chicago, making this a prime investment environment for office. 

Bridge’s proven blueprint provides long-term value for our tenants and strategic partners, and we look forward to creating a place where companies seeking top talent can truly thrive.”

John Norris

 Rosemont is known for a strong base of Class-A users and is home to many regional, national and global headquarters such as World Kitchen, True Value, The Big Ten Network and US Foods.

The surrounding area also boasts the 840,000-square-foot Donald E. Stephens Convention Center, The Rosemont Theatre and 530,000 square feet of high-end retail at the Fashion Outlets of Chicago.

 The newly opened Pearl District, a mixed-use development that includes a Dave & Buster’s and a soon-to-open boutique hotel, is also located nearby.

 The acquisition follows Bridge’s recent purchase of the 32-acre Lenox Park office campus in metro Atlanta, bringing the firm’s year-to-date total to nearly 4 million square feet of office space closed nationally.

Office spaces ranging from 2,600 to 28,900 square feet are currently available, with the first round of spec suites tentatively scheduled to deliver in 1Q2019. Leasing at O’Hare International Center will be led by Rob Lundin, John Clark, and John Norris of Newmark Grubb Knight Frank.

Contact:

Nick Banaszak

The Wilbert Group

nbanaszak@thewilbertgroup.com

HFF announces sale of and equity for land site in Morrisville, NC

Justin Good

CHARLOTTE, NC – – HFF announces the sale of and joint venture equity for a land site totaling 48.33 gross acres (approximately 15.75 usable acres) within the Shiloh Crossing development in Morrisville, North Carolina.

The HFF team marketed the property on behalf of the seller, Shiloh Morrisville, LLC.  Dominion Realty Partners (DRP) purchased the site for $7.35 million.  

Additionally, the HFF team worked on DRP’s behalf to arrange joint venture equity for the development of a 318-unit multi-housing community planned for the site.

The planned community, Residences at Shiloh Crossing, will be situated along Shiloh Glenn Drive and Lower Shiloh Way at the crossroads of Highway 540 and Highway 54/Chapel Hill Road in Morrisville.

  

Sarah Godwin

Due for completion in 2019, the property’s accessibility to major transit corridors will offer unmatched connectivity to Raleigh-Durham’s most concentrated employment nodes, including the R&D-focused Research Triangle Park and surrounding Perimeter Park and Imperial Center.  

The property will consist of six apartment buildings encompassing a mix of one-, two- and three-bedroom units averaging 915 square feet.  Unit amenities will include nine-foot ceilings, quartz countertops, ENERGY STAR® appliances, in-unit washers and dryers, walk-in closets, and balconies or patios.  

Community amenities will include a resident clubhouse with Wi-Fi access, 24-hour fitness center, yoga room, game room, coffee bar, dog park, open green space for outdoor activities, resort-style swimming pool with sundeck, grilling area and walking-distance access to nearby retail and dining.  Residences at Shiloh Crossing will be designated by NAHB’s Green Building Standards.

Jeff Glenn

The HFF investment advisory team representing Shiloh Morrisville LLC consisted of managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Sarah Godwin.

HFF’s equity placement team representing DRP consisted of managing director Justin Good, senior managing director Travis Anderson and senior director Roger Edwards.

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

Dominion Realty Partners (DRP) is a full-service real estate organization providing development, management, leasing, acquisition and investment services.  

Collectively, the DRP team of professionals brings more than five decades of real estate experience in delivering high quality, environmentally friendly commercial and residential real estate transactions throughout the southeastern and Mid-Atlantic United States.  

Allan Lynch

Having completed more than $2.5 billion in real estate transactions, 3.6 million square feet in office projects and more than 3,500 residential units, the DRP team has the capabilities and experience to structure complex financial arrangements and partnerships. 

 In the past 24 months, DRP has developed and acquired more than $600 million in the Mid-Atlantic and Southeast.  

CONTACTS:

JUSTIN GOOD

NC Lic. #261333

HFF Managing Director

(919) 573-4642

jgood@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

http://www.drp-llc.com/.

Bull Realty Brokers $7.3 Million Medical Office Building in Atlanta MSA

Piedmont Healthcare Medical Center, Loganville, GA

ATLANTA, GA— The Healthcare Real Estate Services Group at Bull Realty brokered the sale of a Piedmont Healthcare Medical Center, an approximately 15,000 SF medical office building located in Loganville, GA.

The sale closed on September 4, 2018 for $7,347,000. Paul Zeman with Bull Realty was the only broker involved in the transaction.  

Clearview Regional Medical Center was established in this market in 1959 and was acquired by Piedmont Healthcare on March 31, 2018. Immediately afterwards, a private seller awarded Zeman the exclusive assignment to market the real estate for sale. 

Paul Zeman

Piedmont operates a Women’s Healthcare Clinic and a Gastroenterology Clinic which includes an Endoscopy / Surgery Center at this location.

“Hospital Outpatient Procedure Departments like this one provide a great service to patients in the community. Piedmont’s commitment to this market is significant and as a result this asset will continue to perform very well,” said Zeman.  

Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing, management and advisory services. The firm also produces and hosts America’s Commercial Real Estate Show (www.CREshow.com).

  

CONTACT:    

Melissa Henry

Communications Manager

Bull Realty, Inc. 

404-876-1640 x 110

BullRealty.com

CREshow.com

ATLCREshow.com

Pathway to Living Completes Acquisition of 101-Unit Senior Living Community in Northwest Suburban Chicago

Grandbrier of Prospect Heights, 708 North Elmhurst Road,
Prospect Heights, IL

CHICAGO, IL – Pathway to Living, a Chicago-based developer, owner and operator of senior living communities,  announced it has completed its acquisition of Grandbrier of Prospect Heights, a 101-unit senior living community in Prospect Heights, Ill., a northwest suburb of Chicago.

Located at 708 N. Elmhurst Road, the property will be rebranded Aspired Living of Prospect Heights in October and continue to be managed by Pathway to Living, as it has been since opening in May 2017.

Maria Oliva

Pathway to Living became the owner of the community after buying out its joint venture partner. The property includes a three-story, 69-unit independent and assisted living community, as well as a connecting single-story, 32-unit memory care neighborhood that wraps around a secure, outdoor courtyard.

“Pathway is intimately familiar with the design and operations of Aspired Living of Prospect Heights because we’ve been involved with it from the very beginning, fostering connections with the residents who call this community home,” said Maria Oliva, chief operating officer at Pathway to Living.

“As the newest addition to our Aspired Living brand family, it will continue to be synonymous with the highest levels of care, programming and design, empowering residents to live engaged, purposeful lives.”

CONTACTS:    

 

 Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com,

(312) 267-4514

Abe Tekippe, atekippe@taylorjohnson.com,

 (312) 267-4528       

 

www.pathwaysl.com.