Lincoln Property Co. Completes Six Multi-Year Leases with Local and National Firms at Airport Business Center in Orlando, FL

Tonya Dolan

Sean DuPree

ORLANDO , FL – Lincoln Property Company Southeast, a full service commercial real estate firm based in Orlando , recently completed six multi-year lease agreements at Airport Business Center totaling 19,147 square feet of office space.

Sean DuPree, Broker at Lincoln Property who handles leasing at Airport Business Center , negotiated the transactions on behalf of the Landlord RCS-Orlando Airport 371 LLC of Louisville , CO.

A new lease for 5,031 square feet at 5752 S. Semoran Blvd. was signed by Synect, LLC d/b/a Synect Media.  Tonya Dolan of Keller Williams Advantage III Realty at Lake Nona represented the tenant who creates custom content video walls for OIA and airports across the U.S.

Tad McDonough

Milwaukee-based Johnson Controls Fire Protection, LP signed a new lease for 3,538 square feet at 5878 S. Semoran Blvd.     The tenant, who specializes in enhancing fire and security systems with multi-layered emergency communications, was represented by Tad McDonough of CBRE.  

Eden Site Development, Inc., who signed a new lease for 1,757 square feet at 5800B S. Semoran Blvd. , provides site clearing, utility services, curbing, paving and signage for the construction industry.  Eden was represented in the transaction by David Mander of Results Real Estate Partners. 

David Mander

DuPree brokered a new lease for 3,423 square feet with current tenant MSE Group who already occupies 10,158 square feet at 5854 S. Semoran Blvd.   MSE extended the term of their existing lease and expanded into the adjoining suite 5866 .

 The tenant, with offices in seven states, is a multi-disciplinary environmental engineering and construction firm.

UEP, Inc. leased 2,376 square feet.  The professional photography and video production company relocated from Winter Park to the more prominent location at 5852 S. Semoran .

Michael Danforth

House of Management Enterprises for Community Associations, Inc. renewed its lease of 3,022 square feet at 5756 S. Semoran Blvd.   Michael Danforth and Alberto Leon of CRESA represented the tenant who provides HOA and condominium management throughout metro Orlando.

The six-building 200,000+ square foot Airport Business Center is located at 5730-5892 S. Semoran Blvd. at the intersection of Hoffner Ave. (CR15) north of Orlando International Airport .

Alberto Leon

CONTACTS: 

Sean DuPree,
CCIM, Director of Sales/Leasing, 
Lincoln Property Company 
407-872-3500
 sdupree@lpc.com

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

HFF announces $30 million capital for development of Home2 Suites by Hilton hotels in Sarasota, FL and Largo, FL

Rebecca VanReken

ORLANDO, FL, April 2, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged nearly $30 million in capital for the development of two Home2 Suites by Hilton hotels totaling 236 keys in Sarasota and Largo, Florida.

The HFF team worked on behalf of the developer, a joint venture partnership HFF arranged consisting of Floridays Development Company and Butson Hotels, to place a fixed-rate loan for the development of the Sarasota Home2 Suites and a floating-rate loan for the development of the Largo Home2 Suites. 

Rendering of planned Home2 Suites by Hilton hotels totaling 236 keys in Sarasota, FL and Largo, FL

Home2Suites by Hilton is an all-suite, mid-tier, extended-stay Hilton brand designed with the budget-conscious traveler in mind.  All suites provide separate living and bedroom areas, and all properties feature an open lobby area with a community space called the “Oasis,” a laundry and fitness area, business zone and market pantry.

Home2 Suites by Hilton Sarasota will house 118 rooms within five stories on a 6.56-acre land parcel on Mauna Loa Drive within Bee Ridge Park of Commerce in Sarasota. 

Michael Weinberg

Once completed in late 2019, the hotel will have visibility to more than 127,500 vehicles per day from Interstate 75.  Multiple demand drivers are within a 10-mile drive of the hotel, including a nearby hospital, medical-oriented Ridgelake Business Park, the Ringling Art Museum, historic St. Armand’s Circle and the white sand of the world-famous Siesta Key, which is currently ranked the No. 2 beach in the U.S.

Home2Suites by Hilton Largo’s five stories will also contain 118 rooms.  Scheduled for completion in the spring of 2020, the hotel will be constructed on 2.3 acres at 10125 Ulmerton Road directly across from the Largo Mall. 

Alan Suzuki

This location is approximately five miles east of the Gulf beaches, including Indian Rocks Beach, Indian Shores, Sand Key and Clearwater beaches.  Additionally, the hotel is surrounded by numerous restaurants within walking distance.

The HFF equity and debt placement teams included senior managing director Michael Weinberg,  managing director Rebecca VanReken and senior director Alan Suzuki.

Angus Rogers

“HFF is well versed with and has the relationships with the type of lenders we like to work with on these types of projects,” said Angus Rogers, president and CEO of Floridays Development Company.  “Michael and his team have been very professional in all of our dealings.”

“It was a privilege to be able to link capital with high-quality developers/owners like Floridays Development Company and Butson Hotels,” Weinberg added.

  CONTACTS: 

MICHAEL WEINBERG

FL Lic. # SL3133790

HFF Senior Managing Director

(407) 745-3900

mweinberg@hfflp.com

REBECCA VANREKEN

HFF Managing Director    

(407) 745-3900

rvanreken@hfflp.com

ALAN SUZUKI

HFF Senior Director

(617) 338-0990

asuzuki@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://floridaysdevelopment.com

Feldman Equities Brings on Baharea Larsen as Executive Vice President of Leasing and Marketing in Tampa, FL

Baharea Larsen

TAMPA, FL --  With an eye towards the continued success of its leasing program and expansion of the company’s real estate portfolio, Feldman Equities has hired Baharea Larsen as Executive Vice President of Leasing and Marketing.

As Executive Vice President of Leasing and Marketing, Larsen will head all leasing activity for the company’s office building portfolio.  Her role will also include leasing oversight of new acquisitions.

Larry Feldman

“In Baharea we’ve found a team member who can grow with the company,” stated Feldman Equities CEO Larry Feldman. “She knows the Tampa Bay real estate market inside out and has a strong marketing background.” 

Broker relationships are key in today’s real estate market and Larsen plans to capitalize on her 13 years on both sides of the bay making those connections. 

“The success of Feldman Equities’ renovation and lease-up strategy speaks for itself,” said Larsen. “I’m excited to market some of the largest high-end blocks of real estate available in this currently tight Tampa Bay market.”

Larsen most recently served as Vice President of Redstone Commercial, leasing a 600,000 square foot portfolio following roles at Cushman & Wakefield and Commercial Partners Realty.

Larsen and Feldman Leasing Representative Ceci Tricoli will together lease a portfolio of some of the most well-known office towers in downtown Tampa and St Petersburg.

About Feldman Equities, LLC

Over the past 30 years, Feldman Equities has developed or acquired over eleven million square feet of office and retail properties with an aggregate value in excess of $3 billion. Feldman is a “re-inventor” of the office building and specializes in turning around distressed office assets. Feldman Equities and its partners own and manage 1.9 million square feet of office space in the Tampa Bay area.

  

CONTACT: 

Tammy Youngman 

tyoungman@assetmarketingonline.com                                                                                                              

EagleBridge Capital Arranges $2.12 Million Financing for Hingham, MA R&D Building

                                                                       

Future Home of Yankee Trader Seafood, 80 Sharp Street,
Hingham, MA

                          
Boston, MA -- EagleBridge Capital, has arranged acquisition/permanent mortgage financing in the amount of $2,120,000 for the future home of Yankee Trader Seafood which will be expanding to 80 Sharp Street in Hingham, Massachusetts.

The mortgage financing was arranged by EagleBridge principal Ted. M. Sidel who stated that the loan was provided by a leading Massachusetts thrift institution.

Ted M. Sidel

Yankee Trader Seafood, founded in 1994 is a women-owned minority-based company which prepares and sells a wide variety of frozen prepackaged seafood dinner meals, fishcakes, and appetizers which are sold nationally through over 3000 grocery and club stores across the United States including Costco, Market Basket, Stop & Shop, Albertsons, Kroger, Price Chopper, Hannaford, and Shaws.

Yankee Trader Seafood products include scallop casseroles, shrimp scampi, stuffed salmon, crab cakes, lobster cakes, fish cakes, spring rolls, rangoons, scallops wrapped in bacon, and a wide variety of scrimp appetizers.

80 Sharp Street is a 23,600 square foot industrial building on a 2 acre site within 2 miles of  Route 3, a major north/south access route tp Boston and Route 128.   The building will be fully renovated.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

 CONTACT: 

                                                                                                                                   STAN SIDEL

 ssidel@eaglebridgecapital.com                                                                                                                     

The Habitat Company Begins Pre-Leasing at The Concord at Sheridan, 6438 N. Sheridan Road, in Chicago’s Rogers Park

The Concord at Sheridan, 6438 N. Sheridan Road,
 Rogers Park neighborhood. Chicago, IL

CHICAGO, IL (April 2, 2019) – Chicago-based The Habitat Company has announced the start of pre-leasing for 111 apartments at The Concord at Sheridan, a seven-story mixed-use, mixed-income development at 6438 N. Sheridan Road in Chicago’s Rogers Park neighborhood.

The project, a joint venture that includes Three Corners Development, Iceberg Development, the Chicago Housing Authority (CHA), Lightengale Group and Cubit Development, is slated to welcome first residents this spring. 

Located steps from Loyola University Chicago’s Lake Shore Campus, The Concord at Sheridan is an urban infill development that will bring nearly 30,000 square feet of ground-floor retail space, anchored by a flexible-format Target store, to the neighborhood.

Virginia Pace

The project will also include a mix of one- and two-bedroom residences ranging from 520 to 1,049 square feet. Sixty-five units are reserved as affordable housing for CHA residents, while the remaining 46 will be market-rate units, with monthly rents starting at $1,225.

“Combining mixed-income housing with a mixed-use development is one of the best ways to help a community at large evolve and drive economic growth,” said Charlton Hamer, senior vice president of Habitat Affordable Group, a division of The Habitat Company, which is leasing and managing The Concord at Sheridan.

Charlton Hamer

“Not only will The Concord at Sheridan bring in a diverse population that will frequent area retail and restaurants, but the Target also will be adding jobs to the neighborhood while filling a retail void.” 

“This project brings many like-minded partners together, all with the same goal of improving the options and opportunities for more retail and housing choices within an already vibrant neighborhood,” said Rob Ferrino, president of Three Corners Development.

“The amenities at The Concord at Sheridan were chosen carefully and they are designed to be as diverse as its residents – something for everyone,” said Virginia Pace of Lightengale Group.

 “Whether residents want a stylish and inviting space to accommodate a business meeting or book club, or a place to be more active and socialize by playing games or working out, this building has them all.”

For more information and leasing inquiries, please visit www.TheConcordatSheridan.com or email

TheConcordatSheridan@habitat.com.

CONTACTS: 

Robin Plous, rplous@taylorjohnson.com, (312) 267-4512

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

www.thecha.org.

www.habitat.com.

Low Mortgage Rates Here to Stay, Predicts The Real Estate Capital Institute®

John Oharenko

 Chicago, IL, April 1, 2019 – The Fed’s announcement to keep rates unchanged sent 10-year treasuries to the lowest levels since the end of 2017.  Discussions of any rate hikes this year are unlikely. 

Fed projects one hike for next year, and a rate cut may be justified should the economy start losing momentum.  For the foreseeable future, low mortgage rates are here to stay, as a strong job market is tempered by cautious consumer spending and reduced business investments. 

The executive director of The Real Estate Capital Institute®, John Oharenko, summarizes current financing conditions by noting, “The commercial realty markets feel flat, in step with the yield curve. Not too much up or down movement, just a little sideways.”

Noteworthy commercial mortgage pricing trends based upon leverage, term and rate structure are noted as follows:

Leverage:  Pricing on lower leverage debt of, say 50%, is extremely attractive, starting at 140 to 160 basis points over longer-term treasuries, and even lower for ‘prime’ deals.  Stepping up to 70%, spreads climb by nearly 50 basis points.   Full leverage loans of up to 80% (typically layered with Mezz debt), include another 50 to 75 basis points.  All in all, permanent debt featuring a ten-year term is generally priced in the 4%-to-5.25% range.  Additional 15-20 basis points discounts/premiums available depending upon project leverage and quality.

Term:  The ten-year term reigns as the benchmark timeline for permanent debt.  Given yield curve flatness, five-year debt is priced only 10 to 20 basis points lower.  On the other end of the spectrum, twenty-year debt is about 20 to 25 basis points higher.  Term elasticity is minimal, so longer-term debt remains desirable.

Rate Structure:  Adjustable-rate loans are priced within the 4%-to-5% range, gravitating towards the middle-range.  Similar to term funding dynamics, rate structure pricing is nearly inelastic, as adjustable and fixed-rate debt rates are very similar.  Also, mortgage spreads typically widen when treasuries significantly drop, as occurred last month.  Due to the substantial amount of capital chasing a limited amount of real estate projects, lenders are keeping spreads tight, or unchanged, to stay competitive in the market despite lower treasuries.

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  

CONTACT:

 John Oharenko, Executive Director

director@reci.com / www.reci.com

 ^The   Real Estate Capital Institute^®

900 North Campbell Avenue

Chicago, Illinois USA 60622

Marcus & Millichap Arranges $1 Million Sale of 18,400-SF Self Storage Facility in Lakeland, FL

Lakeland Self Storage, 2326 West Memorial Boulevard
Lakeland, FL

LAKELAND, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Lakeland Self Storage, a 18,400-square foot self-storage located in Lakeland, FL, according to Colby Haugness, regional manager of the firm’s St. Louis office. The asset sold for $1,040,000.

Anne Williams

Anne Williams and Marla Čolić, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

 The buyer, a private investor, was secured and represented by  Williams. Čolić and Ryan Nee - Regional Manager, Broker, assisted in closing this transaction.

Lakeland Self Storage is located at 2326 West Memorial Blvd. in Lakeland, FL.  The property includes 122 non-climate-controlled units and 22 climate controlled units and currently maintains an 80 percent occupancy rate. Lakeland Self Storage was built in 2005 and includes asphalt drives and metal construction.

Marla Colic

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services.

Ryan Nee

Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion.

 Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.

CONTACTS:

Colby Haugness

Regional Manager, St. Louis

(314) 889-2500

Stephanie Carten
Marketing Coordinator
Marcus & Millichap 5900 North Andrews Avenue Suite 100 Fort Lauderdale, FL 33309 (954) 245-3477 direct (954) 245-3400 main (407) 625-9793 mobile (954) 245-3410 stephanie.carten@marcusmillichap.com

www.MarcusMillichap.com.

HFF closes sale of The Village at Camp Bowie in Fort Worth, TX

The Village at Camp Bowie, a Sprouts Farmers Market-anchored retail center totaling 180,000 square feet in Fort Worth, TX

DALLAS, TX –– HFF announces that it has closed the sale of The Village at Camp Bowie, a Sprouts Farmers Market-anchored retail center totaling 180,000 square feet in Fort Worth, Texas.

Jim Batjer

HFF marketed the property on behalf of the seller, a joint venture partnership between Lincoln Property Company and Boston-based Long Wharf Capital.  Dunhill Partners, Inc. purchased the grocery-anchored asset.

The Village at Camp Bowie is situated in a highly visible location near the intersection of Camp Bowie Boulevard and Interstate 30, which together have a daily traffic count of more than 130,000 vehicles. 

The 21-acre site is positioned in the Camp Bowie District of Fort Worth, which is proximate to the affluent residential neighborhoods of Ridglea Hills, Westover Hills, Rivercrest, and Arlington Heights. 

The population within a three-mile radius of the property exceeds 87,000 people and has an average household income of $94,000. 

Barry Brown

The Village at Camp Bowie is 89 percent leased to 39 diverse tenants, including Tuesday Morning, Verizon, Orangetheory Fitness, Keller Williams, and McAlister’s Deli, among others. 

The HFF investment advisory team representing the seller included senior managing directors Jim Batjer, Barry Brown and Ryan Shore and director Aaron Johnson.

Holliday GP Corp. ("HFF"), a Texas licensed real estate broker.

About Lincoln Property Company
Founded in Dallas, Texas, in 1965, LPC is a full-service, vertically integrated institutional investment and property services platform with offices in the United States and Europe. 

 Since 1965, Lincoln has acquired and developed approximately $54 billion of residential and commercial property.  LPC currently manages 213 million square feet of commercial property and 190,542 multifamily residential units for over 200 separate clients worldwide.  

For more information, please visit lpc.com.

Ryan Shore

About Long Wharf Capital

Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. 

Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations and family offices. 

 Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. 

 For further information, visit longwharf.com.

About Dunhill Partners, Inc.

Dunhill Partners was founded in 1984 by William L. Hutchinson and is a commercial real estate investment firm that currently owns and manages more than 5 million square feet of retail commercial property. 

William L. Hutchinson

 Dunhill specializes in the acquisition, leasing and management of commercial real estate.  For more than 30 years, the firm has been dedicated to the fundamental principle of building value for its investors. 

With properties from Texas to Hawaii, Dunhill Partners is a true leader in commercial real estate ownership. 

 Learn more at 
www.dunhillpartners.com.

 For more information on HFF, please visit hfflp.com or follow HFF on Twitter @HFF.

Aaron Johnson

CONTACTS:

JIM BATJER

TX Lic. #0405128                            

HFF Senior Managing Director       

(214) 265-0880

jbatjer@hfflp.com

BARRY BROWN

HFF Senior Managing Director

(214) 265-0880

bbrown@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

HFF closes sale of Austin, TX student housing property

                                                                            Photo by Justin Wallace

Student Housing Villas on 26^th  is at 800 West 26^th Street,
 a half mile from the University of Texas at Austin campus.

AUSTIN, TX –– HFF announced it has closed the sale of Villas on 26^th, a luxury student housing property serving The University of Texas at Austin (UT Austin).

Ryan McBride

HFF worked on behalf of the seller, Zucker Properties.  Arrimus Capital purchased the property free and clear of existing debt.

Villas on 26^th is located at 800 W. 26^th Street less than half of a mile from campus.  Completed in 2014, the property is located at the epicenter of UT Austin’s West Campus student housing market, which positions it within walking distance to more than 50 retail, dining and entertainment destinations.  

The property consists of 182 beds across 49 units averaging 1,591 square feet, 97 percent of which are larger three- to six-bedroom floor plans. 

 Units are equipped with state-of-the-art technology such as Savant smart home automation systems, 60-inch high definition TVs, Apple TVs, Polk surround sound speakers and in-wall iPad touch screens.  

The property’s larger units also include private in-home movie theaters with 110-inch projection screens.  To complement the property’s cutting-edge technology, units feature condo-quality finishes, including custom stone countertops, stainless steel appliances. designer lighting, hardwood-style flooring, walk-in closets and in-unit washers and dryers.  

Doug Opalka

Common area amenities include a swimming pool-sized hot tub on the mezzanine level, multiple outdoor patios with TV’s, 24-hour fitness center, multi-level underground parking and scenic UT Tower views.  

Villas on 26^th has remained 100 percent occupied since opening and is 90 percent pre-leased for the 2019/2020 academic year.

The HFF investment advisory team was led by director Ryan McBride and senior managing director Doug Opalka.

Holliday GP Corp. (“HFF”) is a Texas licensed real estate broker.

CONTACTS:

RYAN MCBRIDE

TX Lic. #615957

HFF Director

(512) 532-1900

rmcbride@hfflp.com

DOUG OPALKA

TX Lic. #493181

HFF Senior Managing Director

(512) 532-1900

dopalka@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com