GC Rentals Buys Three California Multi-Family Properties in Glendale, Pasadena and Burbank

Pat Meaney

PALM DESERT, CA -- GC Rentals LLC purchased three multi-family properties in Glendale, Pasadena, and Burbank.

 The properties consisted of 14 units totaling 14,388 square feet for $6,160,000. The properties were 92% leased at the time of sale. 

The three properties were apart of a 1031 exchange.

Jordan Meaney

"Our Investor had sold a larger complex in North Carolina, and was very bullish on the Southern California multi-family housing market," says Canada Pacific Realty Advisors’ Pat Meaney.

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"He decided to invest the proceeds from his 1031 exchange back into Southern California, and specifically the Pasadena, Glendale, Burbank area, as he is a Pasadena native and very familiar with the area." 

Brendan Meaney

The firm's Brendan Meaney states, "Canada Pacific Realty Advisors is a full-service real estate brokerage and advisory firm specializing in 1031 exchanges and Investment real estate." 

“Our extensive experience lends trusted expertise and insight to opportunities, investments, and property portfolio management," adds Jordan Meaney. 

"We’re dedicated to finding the right opportunities and eager to use our expertise to your advantage.”

CONTACT:

 Jordan Meaney

 jmeaney@cprealtyadvisors.com

Canada Pacific Realty Advisors

CP Realty Advisors, Inc.

42215 Washington St. Suite A373

Palm Desert, CA 92211

760-585-9680 (Main)

760-641-6758 (Cell)

CA License #02033601

OFFICES IN PALM DESERT AND LOS ANGELES

January’s Nine Percent Drop in Real Estate Showing Activity Marks Sixth Consecutive Month of Year-Over-Year Declines

Daniil Cherkasskiy CHICAGO, IL  – If January is any indication, home sellers are bracing themselves for a tenuous start to 2019, as the first month of the year saw a nine percent drop across the U.S. in year-over-year residential showing activity, according to data from the ShowingTime Showing Index®. “Showing traffic continues to subside from last year's impressive heights,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “In January, we did not see an influx of home shoppers to reverse year-over-year declines in showings, which suggests that we may see slower traffic this spring compared to last year.”

In a notable contrast to January 2018, when the 12-month average year-over-year increase in showing traffic nationwide was 7.7 percent, January 2019 saw the 12-month average decline to almost one percent. 

The decrease in showing activity has been felt throughout the country but most noticeably in the West Region, which experienced an 18.8 percent year-over-year drop last month. 

The Midwest Region recorded a year-over-year decline of 12.4 percent in January, with the South Region not far behind with a year-over-year drop of 11.5 percent. The Northeast Region saw a more modest drop of 2.4 percent in January.

      

Key Points:

January showing traffic was down nine percent year over year in the U.S.; the West Region saw its 11th consecutive month of declines with an 18.8 percent year-over-year drop in showing activity A decline in showing traffic continued again in January for the Northeast (-2.4 percent), South (-11.5 percent) and Midwest regions (-12.4 percent), the fourth consecutive month where all regions saw a year-over-year drop

CONTACT:

Tom Denk 
tdenk@showingtime.com

research@showingtime.com.

NAI Realvest Signs Six New Tenants into Over 11,900 SF at South Park Business Center in Orlando, FL Within 60 Days

Tom R. Kelley II

ORLANDO, FL – NAI Realvest closed on six new leases totaling 11,908 square feet at Orlando’s South Park Business Center, the successful business park at 8600 Commodity Circle that’s already home to many notable companies.

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated the six latest deals on behalf of Landlord Miami-based South Park, LLC. 

Cryonext, LLC, a healthcare practice providing non-surgical and drug free options for wellness has leased 2,499 square feet.  The tenant, with other operations in Oviedo and Lake Nona , was represented by Melanie Kalaleh of Dynamic Realty & Development.

Dreamweavers Costumes leased 2,094 square feet.  The retailer supplies costumes for adults and children through Amazon, Target and to entertainment area venues.    

Manuel Berrios

Three leases for 1,830 square feet each were signed by Kiteman Productions, LLC, famous for theme park shows, banner and kite rentals; Teilen System Walls, LLC, a Hialeah-based construction market wholesaler producing easy-to-install and removable  products; and Miami-based shipping company Rima Cargo LLC. 

 Tenant Rima Cargo was represented by NAI Realvest associate Manuel Berrios.

Magic Digital Studios, LLC a new tenant specializing in corporate videos, broadcast media and digital films, leased 1,825 square feet and was represented in the transaction by Ridrigo Schiavo of Premier Capital Realty.

CONTACTS:

Tom R. Kelley, II, CCIM, Principal, NAI Realvest,

 407-875-9989 Tkelley@realvest.com

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

Beth Payan, Larry Vershel Communications,

407-644-4142 Lvershelco@aol.com.     

 www.NAIRealvest.com

HFF arranges $27.55 million refinancing for College Station, TX apartments

100 Park at Century Square Apartments, College Station, TX

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged a $27.55 million refinancing for 100 Park at Century Square, a 249-unit luxury apartment community in College Station, Texas.

Colby Mueck

HFF worked on behalf of the borrower, a joint venture between Midway and Harrison Street, to secure the loanfrom an affiliate of Granite Point Mortgage Trust Inc. (NYSE: GPMT).

100 Park at Century Square is located west of University Drive on Century Square Drive across from Texas A&M University within College Station’s 60-acre Century Square mixed-use development that features premier retail and dining, entertainment venues, 60,000 square feet of Class A office space, luxury apartment homes and two full-service hotels, The George and Cavalry Court.

  Completed in 2016, 100 Park offers a mix of studio, one- and two-bedroom units with upscale finishes, including stainless steel appliances, granite countertops, wood floors, washers and dryers, large closets and patios or balconies.

Timothy Joyce

  In addition to the property’s centralized location, 100 Park incorporates community amenities, including a swimming pool, outdoor lounge and green space, grilling area, state-of-the-art fitness center and covered parking.

The HFF debt placement team representing the borrower was led by senior managing director Colby Mueck along with managing directors Timothy Joyce and Stephen Skok and analyst Stuart Hepler.

Midway’s purpose is to create enduring investments and remarkable places that enrich people’s lives. 

 Houston-based Midway is a privately owned, fully integrated real estate investment and development firm that has provided the highest level of quality, service and value to its clients and investors for more than 50 years. 

Stephen Skok

The Midway portfolio of projects completed and/or underway consists of approximately 45 million square feet of properties in 23 states and Northern Mexico ranging from office and industrial facilities, corporate headquarters, mixed-use centers, business and industrial parks, medical facilities, manufacturing facilities, and master-planned resort and residential communities. 

 For more information on Midway, visit www.midwaycompanies.com.

Harrison Street is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. 

 The firm has created a series of differentiated investment strategies across multiple risk/return platforms. 

Stuart Hepler

Headquartered in Chicago, the firm employs a 140-person team with approximately $18 billion in assets under management.

  For more information, please visit https://www.harrisonst.com/.

CONTACTS:

COLBY MUECK

HFF Senior Managing Director

(713) 852-3500

cmueck@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

QuantmRE Offers New Path to Investing in Residential Real Estate

Matthew Sullivan

NEWPORT BEACH, CA --QuantmRE is revolutionizing real-estate investing by using blockchain and digital securities to unlock equity in homes. 

The team behind QuantmRE set out to design a way to overcome two key problems associated with investing in residential real estate.  Traditionally, homeowners are house “rich” and cash “poor,” and the only solution to unlocking equity in their homes was to take on additional debt.  

Now they can remain homeowners instead of home-owers.  

The benefit to investors is that through fractional home ownership, they can now gain exposure to residential real estate without the hassle of being a landlord. QuantmRE’s way aims to deliver liquidity as well as capital appreciation and preservation. 

Warren Buffett

Warren Buffett recently said that single-family homes are a very attractive investment,  stating that if held for a long period of time and purchased at low rates, single-family home ownership is even better than owning stocks.

The values of typical income-generating types of real estate, apartment and commercial buildings, for instance, can be more closely tied to interest rates, quality of tenants, more expensive to acquire and finance, and require expertise to manage. The value of single-family residences is usually easier to determine.

Matthew Sullivan is  CEO of QuantmRE. 

A copy of the company’s investor presentation and commonly asked questions can be found on the website: QuantmRE.com.

Contact:

Kathy Sampey

 KSampey@kruppnyc.com

Tesla Cleveland property for sale at $6 million

Tesla Building, 5180 Mayfield Road, Lyndhurst, OH

  NEW YORK, NY – B+E, the first tech-driven brokerage and trading platform for net lease real estate, announced that the Tesla retail property located at 5180 Mayfield Rd., Lyndhurst, Ohio, is for sale for $6,000,000.

The building is +/- 23,428 SF on +/- 2.9 acres of land and includes parking.  The property carries a cap rate of 6% with a long term, net lease in place.

“Tesla is set to deliver as many as 400,000 vehicles worldwide this year, roughly four times what it sold two years ago,” said Spencer Henderson of B+E“With a market cap over $57 billion, Tesla is the third most valuable automaker in the world and this is an excellent investment opportunity with a marquee brand name. 

The property is situated in close proximity to many of Cleveland’s top suburbs and is the only Tesla dealer in Cleveland, and one of two Tesla service centers in Ohio.”

Contact:

John Vita

John Steven Vita Communications

John.vita@jsvcom.com

847/853-8283

Platinum Living Realty in Scottsdale, AZ Signs 30 New Agents in First Six Months

SCOTTSDALE, AZ – Platinum Living Realty, an independent luxury real estate brokerage with four offices across Arizona, announced that they have brought on 30 new real estate agents to the firm since launching six months ago.

Jay and Michelle Macklin

 Platinum Living Realty now has over 100 dedicated real estate agents helping home buyers and sellers navigate Arizona’s real estate market.

Donna Hunter

Jay and Michelle Macklin, the co-owners of Platinum Living Realty, began their careers in real estate in 2003 and opened their first brokerage in 2010. 

Candy Jenkins

In July 2018, they made the decision to take their growing brokerage firm independent and to separate from the national brand they had been working with for a number of years.

Nadine Stoner

“Michelle and I founded Platinum Living Realty as an alternative to the classic real estate model,” said Jay Macklin, co-owner of Platinum Living Realty. 

Kristen Spayd

“As an independent brokerage, we are able to offer our agents a plethora of new opportunities as well as an enhanced level of support to help them achieve their greatest possible levels of success.”

Bernadette Barba

Platinum Living Realty takes a different approach than traditional real estate brokerages by providing agents with a customized package of over 20 marketing tools to help effectively target and grow their businesses; consistent and individualized coaching to work through challenges and problems that arise; abundant opportunities for generating new leads and clients; plus other tools and policies that focus on the agent’s success.

A.J. Durand

“What we offer at Platinum Living Realty is a way for our agents to grow a predictive and sustainable business rather than being reactive or focusing on mundane tasks that won’t help close a sale,” said Macklin. \

Shawn Krill

“Our unique approach to quality marketing and building leads is ushering in a new and more efficient way way to do business as a real estate agent.”

Georgia F. Schaeffer

“The support, coaching and investment we have received from Jay and Michelle at Platinum Living Realty has been exceptional and unlike any support we had received before,” said Donna Hunter, a 25-year real estate industry veteran and co-founder with Candy Jenkins of The Hunter Jenkins Realty Group at Platinum Living Realty.

Lisa Tessler

“Platinum Living Realty has helped our real estate business grow in ways we had never imagined,” said Jenkins, a 12-year real estate industry veteran. “I wish we had made the switch long ago.”

Jheri South

The list of new Platinum Living Realty agents includes: Shawn Krill, Scott Semer, Nadine Stoner, Candy Jenkins, Donna Hunter, Amy Gough, Emily Setlock, Lisa Tessler, Tara Guljas, Kimberly MacDonald, Alyssa Jones, Kristen Spayd, AJ Durand, Jamie Jachowski, 

Christina Ramirez

Shelli Duncan, Bernadette Barba, Nikki Park, Kathleen Ticknor, Kellie Therklesen, Darryl Thompson, Gretchen Slaughter, Georgia Schaeffer, Dawn Zimbelman, Spero Pagos, Jheri South, Michelle Parker, Brandi Parker, Christina Ramirez, Elysia Porter, and Sarah Lossing.

Alyssa Jones

Platinum Living Realty is an independent luxury residential real estate brokerage headquartered in Scottsdale, Arizona. 

Scott Semer

With four local offices and over 100 dedicated agents, Platinum Living Realty specializes in real estate services for luxury communities like DC Ranch, North Scottsdale, Cave Creek and Paradise Valley, offering a diverse collection of properties from cozy single-family to ultra-luxury estates. 

Sarah Lossing

Platinum Living Realty was founded as an alternative to the classic real estate model, giving their agents the tools, coaching, and resources needed to succeed in Arizona’s competitive real estate market. 

Amy Gough

For assistance on buying or selling a property or information on becoming an agent with Platinum Living Realty, visit platinumlivingrealty.com.

CONTACTS:

Josh Weiss

10 to 1 Public Relations
480-789-0743
josh@10to1pr.com

Erica Fetherston
10 to 1 Public Relations
480-676-9141
erica@10to1pr.com

74,200 SF Glenview Three-Building Medical Complex in Glenview, IL Sold by Bull Realty

Prairie Glen Medical Office Center, Glenview, IL

Glenview, IL — Prairie Glen Medical Office Center in Glenview is centrally located to large Chicago-based hospitals and healthcare systems and is known to attract sizeable private practices and health system tenants. 

Paul Zeman

The 74,200 SF, three-building complex has been sold as of January 25, 2019 for $21,100,000.

The seller was Titan Development, and the brokers were Paul Zeman, President of Healthcare Real Estate Services at Bull Realty, and Illinois broker Dimitri Development, LLC.

“Paul and his team have been maximizing asset value for sellers for more than a dozen years,” said Michael Bull, CCIM, founder and CEO of Bull Realty. “Their marketing generated multiple and competing offers. Paul’s past experience and expertise in healthcare paid big dividends to the seller.”

The tenant mix of the office complex is 100% medical and includes dermatology, gastroenterology surgery center, pediatrics, rehabilitation, laboratory, ophthalmology and medical genetics.

Michael Bull

The Glen itself boasts new homes, offices, retail, restaurants, a children’s museum, two golf courses, walking and biking trails, an assisted living facility and much more.

Prairie Glen Medical Office Center enjoys high exposure, located as it is inside The Glen. 

Glenview also features one of the locations for Illinois Gastroenterology Group, the largest single specialty GI group in Illinois.

Contacts: 

Susan Fortner
Bowers PR & Marketing
Telephone: (614) 562-0054
E-mail: susan@bowerspr.com
Website: www.bullrealty.com

Heather Bogantz

Assistant Account Coordinator

Bowers PR and Marketing

239.682.9040

Heather@bowersPR.com