StimULI Webinar May 14 to Explore Solutions for Landlords and Tenants

Drew Gorman Sr.

ORLANDO, FL --- Local real estate advisor, speaker and author John Crossman, CCIM, CRX will moderate the StimULI Webinar, an in-depth discussion about Covid-19’s impact on commercial/retail real estate hosted by the Urban Land Institute (ULI) Thursday May 14 at 8 a.m.  

Crossman, retired CEO of Crossman & Company, is the author of “Career Killers, Career Builders,” which is based on his speeches at colleges and universities. 

As one of Orlando ’s most influential business leaders, he will lead an hour-long panel about key issues now facing landlords and tenants.    

David Harvey

Learn about the issues and solutions that top landlords and owners are pursuing in the wake of the abrupt revenue declines tenants are facing and the resulting impact to landlords’ cash flows.

Crossman will lead a virtual panel that includes Trey McPerson, Vice President, RD Keene Trust; David Harvey President, Fairbourne Properties, LLC; Drew Gorman, Sr. Vice President of Acquisitions & Development at Echo Realty; and George Fryer, Jr., Director AEW Capital Management, L.P.

John Crossman

The public is invited to the StimULI webinar.  Registration is $15 for Non-members of ULI and $10 for members.  

To register now go to https://centralflorida.uli.org/events/ click on “webinar” then click “Register.”

CONTACTS:

John Crossman, CCIM, CRX

 407-341-3895 
jcrossman@crossmancb.com  

Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 or 407-461-3781
 beth@larryvershel.com

HSA Commercial Real Estate Completes 20,439 SF Lease with American Residential Services at Gateway Business Park in Indianapolis

Christine Muszynski 

CHICAGO, IL and INDIANAPOLIS, IN  — HSA Commercial Real Estate, a Chicago-based full-service real estate firm,  announced the firm has signed a 20,439-square-foot lease with American Residential Services (“ARS”) at 853 Columbia Road in Plainfield, Ind.

ARS, a Memphis-based network of commercial and residential plumbing and HVAC businesses, is scheduled to move into the fully leased building in September. 

 The 104,400-square-foot building was developed in 2004 as the first phase of HSA Commercial Real Estate’s 55-acre Gateway Business Park, near the Indianapolis International Airport.

 Robert Smietana

With the explosive growth in e-commerce and logistics in Indianapolis, HSA Commercial has continued to expand Gateway Business Park, developing six buildings totaling approximately 900,000 square feet.

 Most recently, HSA Commercial completed construction of the 262,758-square-foot Gateway V distribution center, where the firm signed long-term leases with transplant solutions provider LifeNet and Paris-based aerospace firm Safran Nacelles in 2019.

Terry Busch

“As we continue to grow and develop new state-of-the-art warehouses, we are pleased to see ARS find a home in our very first building at the Gateway Business Park campus,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. 

“With the existing buildings in the park at full occupancy, it gives us even more confidence to press ahead with our development plans going forward.”

 Jared Scaringe

Gateway V distribution center,
Plainfield, IN

Terry Busch and Jared Scaringe of CBRE and Christine Muszynski of HSA Commercial represented ownership in the lease transaction.

CONTACTS:

Rebecca Boykin
rboykin@taylorjohnson.com 
(312) 267-4523

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

Stos Partners Acquires 113,500-SF Industrial and Cold Storage Asset in San Marcos, CA for $18.9 Million

CJ Stos

SAN MARCOS, CA – Stos Partners, a privately held commercial real estate investment and management firm has acquired an 113,500 square-foot industrial and cold storage asset in the San Marcos submarket of San Diego, California in an off-market transaction. 

The property was acquired from a private investor for $18.9 million.

“This was a rare opportunity to acquire an institutional-quality industrial and cold storage property with strong value potential in a logistics epicenter for Southern California,” says CJ Stos, Principal of Stos Partners.

 “San Marcos is strategically positioned with easy access to north and south San Diego, as well as the rest of the Inland Empire.”

Stos Partners will implement a series of renovations and capital improvements to the property, which is currently vacant, to strategically position the asset to attract a variety of last mile distribution tenants.

        

Jason Richards

           “Over the last several years, there has been a rapid increase in the need for last mile distribution facilities near urban centers in order to increase delivery times,” explains Stos.

           “This demand has become even more evident in the current environment, which will drive long-term demand for the property over time.

         "In fact, this is our third cold storage acquisition in the last 12 months and one of the reasons we moved very quickly on the deal and came in with an all cash offer.”

            According to Jason Richards, a Partner at Stos Partners there is a lack of comparable product in the market.

The property also features key components that will be attractive to high-quality tenants and contribute to the property’s long-term value including 20’ to 27’ clear heights, 7.19 acres of truck storage, UPS docks, and an onsite maintenance building, in addition to the cold storage component.

          

Bob Willingham 

  “This property has great bones and with the right capital improvements is an excellent addition to our existing portfolio in San Diego,” says Richards.

“We plan to implement a variety of improvements including upgrades to the landscaping, repaving the parking lot, updating the roof, new paint and addressing deferred maintenance.”

            Richards adds, “By implementing these upgrades, we will be able to quickly lease the vacant space and bring rents up to market value.”

The property is located at 505 S. Pacific Street in San Marcos, California. Bob Willingham of Kidder Matthews represented Stos Partners as the buyer in this acquisition.

Contacts:

Lisa James / Lexi Astfalk

Brower Group 

(949) 955-7940 

ljames@brower-group.com 

The Habitat Company and P3 Markets Clears First Round of Financing for TOD, Mixed-Use Development in Chicago’s Grand Boulevard Neighborhood

  

Matt Fiascone

CHICAGO, IL  (April 21, 2020) – Chicago-based The Habitat Company, a leading U.S. multifamily developer and property manager, today announced the firm cleared a key hurdle in financing the first phase of 43 Green, a $35M mixed-income, mixed-use transit-oriented development (TOD) in Chicago’s Grand Boulevard neighborhood.

 Habitat will develop the project in partnership with Bronzeville-based P3 Markets, a real estate development firm dedicated to public-private partnerships.

“Grand Boulevard is one of Chicago’s great historic neighborhoods and we’re confident that this transit-oriented community will appeal across multiple income levels,” said Matt Fiascone, president, The Habitat Company.

“While most of the recent development in the community has focused on single-family lots or multifamily projects concentrated north of this area, we are all optimistic that 43 Green will serve to drive new investment in the neighborhood and lead to long-term economic growth.”

 Phillip L. Beckham

“43 Green is an exciting project – not just for the neighborhood, but also for our team as it embodies our ongoing efforts to affect change in the communities that need it most,” said Phillip L. Beckham, principal, P3 Markets.

“This project also allows us – and future residents – to benefit from working with an exceptional partner like Habitat, which has a strong track record of developing successful mixed-income projects. 

"We look forward to revitalizing Grand Boulevard together as 43 Green becomes a reality.”

CONTACTS: 

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

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

  

www.habitat.com

www.p3markets.com

Ware Malcomb Announces Construction Completed on Historic Renovation of Paradise Theatre in Toronto

Paradise Theatre, 1006 Bloor Street West,Toronto, Ontario, Canada

TORONTO, Ontario, Canada (April 20, 2020) – Ware Malcomb, an award-winning international design firm, today announced construction is complete on the historic renovation of Paradise, located at 1006 Bloor Street West in Toronto, Ontario.

Ware Malcomb’s Vaughan office provided architecture and interior design services for the project.

Originally opened in 1937 in Toronto's Bloorcourt neighborhood, the heritage-designated Paradise building recently reopened following the highly anticipated renovation.

Frank Di Roma

 The project involved converting the existing theatre into a multi-functional venue including a theatre, restaurant and bar. 

In addition to offering a curated mix of newly released films, older classics, undiscovered gems, themed seasons and event cinema.

 “We are proud to play a part in continuing Paradise’s incredible legacy for the next century,” said Frank Di Roma, Principal of Ware Malcomb’s Canada operations, including offices in Vaughan and Toronto.

“In redesigning the space as a fully functional theatre, restaurant and bar, the new Paradise has solidified its landmark status in Toronto.”

The General Contractor for the project is Northern Structures Limited.

For more information, visit waremalcomb.com/news and view Ware Malcomb’s Design video at youtube.com/waremalcomb.

Visit paradiseonbloor.com and follow Paradise on Instagram, Twitter and Facebook.

(paradiseonbloor.com)

Ware Malcomb Vaughan

180 Bass Pro Mills Dr, #103

Vaughan, ON L4K 0G9, Canada 

p. 905.760.1221

Ware Malcomb Toronto

250 University Ave, Suite 235

Toronto, ON M5H 3E5, Canada 

p. 437.537.5200

CONTACTS:

Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Beach Boy Mike Love’s Mansion in Rancho Santa Fe, CA, Priced at $8.65 Million, Has Everything -- Except a Beach!

Mike Love's California Estate Up for Sale at $8.65 million

  

Photo credit: Scott Basile                    Source: lindasansone.com

Mike Love

Rancho Santa Fe, CA -- Still touring and giving motivation to another generation of those who dream about having Fun, Fun, Fun with one eye out for the next good wave and the other on bikinied California Girls, The Beach Boys’ last original member, Mike Love, is still touring and belting out the Good Vibrations songs at age 79.

Al Jardine 

Love, co-writer of many of the songs that were the California Sound and lead vocalist, is selling his Rancho Santa Fe, California estate now that he spends his off-the-road time at his home at Lake Tahoe. It is priced at $8.65 million.

The Beach Boys

Love first appeared with his three cousins Brian, Carl and Dennis Wilson and friend Al Jardine as a musical group in the summer of 1961 under the name The Pendletones, but discovered that their name had been changed to The Beach Boys on their first single, Surfin.

The Beatles

Late that year, Surfin hit the Top 40 on local and later the national Billboard charts, the beginning of the California Sound, according to

Prolific songwriters, mostly Brian and Mike, the group stood out for its staying power, even during the onslaught of The Beatles.

The Beach Boys' Surfer Girl Album Cover Photo

It also put California, particularly Southern California, on the map of imagination full of sunny days, good waves and pretty girls far better than the state’s Chamber of Commerce. 

Surfin’ USA, Surfin’ Safari, Surfer Girl and other great beach songs and movies soared in popularity during the 1960s. But the group, with their own unique, easygoing sound, continued to attract new fans long after the surf culture had run its course.

Mike Love mansion interior

Over the years, music historians have studied The Beach Boys’ stability, staying power, and their ability to attract new fans.

 In 1988, the group was inducted into the Rock and Roll Hall of Fame.

With many ups and downs for members of the group over the years, since 1998, Love has been the sole licensee of The Beach Boys’ name and the only one who can legally use it on tours, although all the members share in the profits.

A health-conscious vegetarian and fan of daily meditation, Mike is still wowing the group’s faithful followers. Now living at Incline Village, Nevada, he is selling his stunning California estate.

High on a hill overlooking the mountains, ocean, city and golf courses on 3.5 acres, Love’s 17,515-square-foot mansion is located on one of the best plots in the gated community of Fairbanks Ranch.

Much like a private resort, who needs a beach when you have a pool that encircles a spa that feels like being on a private island accessed by a bridge?

The tropical grounds also have a swim-up bar, fire pit and tennis court - all with staggering long-distance views. Inside rooms are vast and surfaced with elegant finishes.

There are eight bedrooms, nine baths, a chef’s eat-in kitchen where many people can join in the cooking with plenty of room to spare. It also opens to a large terrace.

The foyer has two curving stairs open to the upper floor; the formal rooms are large with fireplaces and from the master suite’s walls of glass the view seems to take in the entire state.

Built for grand or informal entertaining, there is also a complete outdoor kitchen. The upper terrace overlooks the pool terrace with a tropical path to the tennis court and lockers below.

Though it may not have a beach, there is plenty of water including a three-tiered fountain that was designed after the fountains of Villa d’Este in Lake Como, Italy.

Linda Sansone 

Legendary co-founder of The Beach Boys and lead vocalist, Mike Love, is selling his glamorous Southern California mansion. Priced at $8.65 million, the listing agent is Linda Sansone of Willis Allan Real Estate, Rancho Santa Fe, California.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

Marcus & Millichap Brokers $825 Sale of 11-Unit Apartment Building in Tallahassee, FL

 

Hayden Villas, an 11-unit apartment property located in Tallahassee, FL

Michael C. Steiner

TALLAHASSEE,  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 Hayden Villas, an 11-unit apartment property located in Tallahassee, FL, according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $825,000.

Michael C. Steiner, Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Casey Babb

 The buyer, a private investor, was sourced out of California by the same brokers.

"By utilizing the Marcus and Millichap platform and a targeted email campaign, our team was able to procure a first-time multifamily buyer out of California and closed the deal at 97% of list price," said Steiner.

 "We were able to overcome multiple hurdles, including the Coronavirus Pandemic, in order to get this deal across the finish line at a T-12 CAP rate of 6%,"

Luis Baez

            Hayden Villas is located at 414 Hayden Road in Tallahassee, Fla. and is just 0.5 miles south of the Florida State University Campus and less than two miles to the State Capitol Building.

           Hayden Villas offers a true pedestrian-to-campus location and is located within walking distance (three blocks) of Florida State University, offering convenient access to the Campus' academic buildings, facilities and Doak Campbell Stadium. 

Florida A&M University is less than one mile from the property and is home to 10,000 students.

 Shawn Rupp,

           Florida State University has a current enrollment of nearly 42,000 students and has continued to experience record-setting growth. 

CONTACT:

Chris Travis

Regional Manager 

Tampa, FL

(813) 387-4700