Marcus & Millichap Arranges Sale of Venice, FL Self-Storage Development

Grant Fitzgerald

 VENICE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Venice Isles Storage Opportunity, a 1.68 acre piece of land located in Venice, Florida, according to Grant Fitzgerald, Associate Regional Manager of the firm’s Columbus office.

 Nathan Coe, Brett R. Hatcher, and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer was also secured and represented by the three bcrokers.

 Nathan Coe

 Ryan Nee, District Manager and Broker of Record, assisted in closing this transaction.

 Venice Isles Storage Opportunity is located at 2988 Executive Drive in Venice, Florida.  The offering was for 1.68 acres of land with full site plan approvals to build a four story, class A self-storage development. 

 Venice is located about 17 miles southeast of Sarasota, Florida and is a rapidly growing market in Southwest Florida.

 

 Nathan Coe, the lead broker on the transaction, is excited for the potential here, stating, “I was very excited to get this future storage development site sold. This will be a tremendous class A self-storage facility in the future.”

Gabriel Coe

 Brett R. Hatcher

 

 

CONTACT: Daniella Aragon Marketing Coordinator/ Certified Agent Support Specialist 5201 Blue Lagoon Drive, Suite 100, Miami, FL 33126 O: (786) 522-7122 C: (786) 454-0094 E: Daniella.Aragon@marcusmillichap.com NYSE: MMI

 www.MarcusMillichap.com.

Shaner Silver Spring Hotel, LLC, Announces Grand Opening of 107-Room Fairfield Inn & Suites Harrisburg West/Mechanicsburg in Pennsylvania

The 107-room Fairfield Inn & Suites Harrisburg West/Mechanicsburg
in Pennsylvania

 

 MECHANICSBURG, PA, Nov. 25, 2020—Officials of Shaner Silver Spring Hotel, LLC, a partnership between Shaner Hotels, an award winning, international hotel owner, operator and developer, and Quarryville, Pa.-based Paul Risk Construction, a fourth generation, family-owned construction company, today announced the grand opening of the 107-room Fairfield Inn & Suites Harrisburg West/Mechanicsburg in Pa. 

 Paul Risk Construction acted as the general contractor during the building process.  Shaner Hotels will provide management services for the property.

                 “Construction for all property types has been an uphill battle for most developers, but we were able to complete the Fairfield Inn & Suites Harrisburg West/Mechanicsburg on time and on budget," said Plato Ghinos, president, Shaner Hotels.

 Plato Ghinos

 "This was thanks in no small part to our renowned partner’s ability to move quickly and pivot when necessary. 

"The opening marks the newest Marriott-branded hotel in the area, as well as our fourth new development in the greater Harrisburg region. 

 "We fully expect this hotel to quickly take its rightful place as the segment leader for visitors to Mechanicsburg, Harrison and Carlisle Pike.”

                Situated just off I-81 at 503 Winding Creek Boulevard, the five-story hotel is near Hersheypark, Williams Grove Speedway, Dickinson College and Gettysburg National Military Park. 

 The hotel features complimentary Wi-Fi throughout the hotel, 24/7 fitness center and indoor pool.  Spacious guest rooms offer ergonomic chairs in well-lit workspaces.  Guests also may enjoy a complimentary, daily breakfast buffet.

               “My grandfather always said, ‘Treat each project as if were your own and make every decision from the owner's perspective,’ values we continue to instill in our employees today as we actually live the reality as partners in the project,” said D.J. Risk, president, Paul Risk Construction. 

D.J. Risk

 “We love sharing our client’s stories and making their dreams come true--those stories make PRC the company it is today.  

"Often times, our story concludes with the completion of the project, but when the opportunity to partner with a world-class organization like Shaner Hotels came about, we couldn't wait to join in that journey and look forward to the story it will tell.”

                 “The site benefits from its ability to expand,” Ghinos noted.  “We have ample space to add a 175-plus seat restaurant, as well as capacity for an extended-stay hotel or office building.  

"We look forward to further developing this space as demand warrants, and we expect demand to be plentiful.”

 

 CONTACT:

 CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

 www.shanercorp.com.

 

Ware Malcomb Announces Jamie Case has Joined as Director, Interior Architecture and Design in Atlanta Office

Jamie Case

ATLANTA, GA, Nov. 24, 2020 – Ware Malcomb, an award-winning international design firm, today announced Jamie Case has joined as Director, Interior Architecture and Design in the Atlanta office. In this role, Case will manage the Atlanta Interior Architecture & Design Studio and oversee all interior projects.

 Case joins Ware Malcomb with 24 years of in-depth experience in project, design and personnel management, and business development.

 With a wide variety of interior architecture and design experience, Case brings expertise in office, renovation, education, hospitality, multifamily and worship projects.

Jason Dooley

 

She has a strong concentration in corporate workplace projects and is well versed working with corporate end users, brokers, landlords, developers and public institutions. 

 “Jamie is a dynamic leader and accomplished design professional with an extensive background in interior architecture and design,” said Jason Dooley, Principal of the Atlanta and Miami offices.

  “We are so excited to have Jamie join our Atlanta team and help grow Ware Malcomb’s interiors practice across the Southeast.”

 Case holds a Bachelor of Science degree in Design from the University of Cincinnati. She is a Registered Interior Designer, National Council of Interior Design Qualifications (NCIDQ) certified, and a member of CoreNet Global’s Atlanta chapter.

 CONTACTS:

 Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

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

 Please visit http://www.waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb.

$68 million construction loan arranged for Canfield Park in Black Rock, CT

Kristen Knapp

NEW YORK, NY, Nov. 23, 2020 — JLL Capital Markets announced today that it has arranged a $68 million construction loan for Canfield Park at Fairfield Metro, a 300-unit luxury multi-housing property in the Black Rock neighborhood of Bridgeport, Connecticut. 

Peter Rotchford

 JLL worked on behalf of the borrowers, a joint partnership between Spinnaker Real Estate Partners, LLC and Eastpointe, LLC, to secure the loan through Sculptor Real Estate. Construction on the property is slated to begin this fall and expected to be completed in 2022.

 The development comprises two mid-rise five- and six-story apartment buildings including studio, one- and two-bedroom units, averaging 850 square feet.

The property also offers over 20,000 square feet of amenity space and a parking garage with 500 parking spots for residents.

 Canfield Park is located directly across from the Fairfield Metro North Train Station on the Fairfield/Bridgeport line and less than half a mile away from Interstate 95, allowing ready access to transportation for residents.

The property is also a five-minute walk to Black Rock’s shopping district with its diverse collection of restaurants, bars and retail shops.

Christopher Peck

 The JLL Capital Markets team representing the borrowers was led by Senior Managing Director Christopher Peck, Senior Director Peter Rotchford, Vice President Kristen Knapp and Analyst Rob Root.

 “This project will be highly attractive to families transitioning to a more suburban lifestyle, as well as to empty nesters downsizing from large single-family homes to modern rental properties,” said Rotchford.

“The Bridgeport market has seen a large influx of New York City residents since the beginning of the COVID-19 crisis, and this property is well positioned to benefit from the shift in renter preferences.”

 For more news, videos and research resources on JLL, please visit our newsroom.

Rob Root

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

 Steven E. Orbuch

About Sculptor Real Estate

Sculptor Real Estate was founded by Steven E. Orbuch in 2003 to make investments in real estate and real estate related assets across North America and Europe.

 Sculptor Real Estate has invested in over $14.5 billion of real estate assets across 24 different real estate-related asset classes, including direct equity investments, preferred equity structures, senior loans, mezzanine loans, ground leases and other credit investments.

For more information, please visit Sculptor Capital’s website (www.sculptor.com).

 Contacts:

 Natalie Passarelli

Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 

us.jll.com/investorservices

 George Shea, Rachel Tate

Company: Shea Communications

Phone: +1-760 -519-4596

Email: rachel@sheacommunications.com

 

Investor Relations Contact		Media Relations Contacts
Elise King		Jonathan Gasthalter
+1-212-719-7381		Gasthalter & Co. LP
investorrelations@sculptor.com		+1-212-257-4170
		jg@gasthalter.com

 

MCA Realty Sells Multi-Tenant Industrial Asset in Temecula, CA for $14 Million

131,577-SF Diaz Commerce Center, 27711 Diaz Road, Temecula, CA

 Temecula, CA – MCA Realty, a full-service real estate investment and management company based in Orange County, California, has recently announced the sale of Diaz Commerce Center, a 131,577 square-foot industrial asset in Temecula, California. The industrial property was sold to a local investor for $14 million.

Tyler Mattox

 “There continues to be strong demand for well located, quality industrial assets across the Inland Empire,” explains Tyler Mattox, Principal at MCA Realty.

  “We have been involved in the market early on and this recent sale is demonstrative of our ability to find and acquire undervalued properties and bring them full cycle.”

 Mattox explains that it further demonstrates an ability to get deals over the finish line in the current environment.

 “Industrial properties, including multi-tenant industrial, is an asset class that has continued to perform despite the pandemic,” he explains.

 “There has been a continued shift towards more last mile distribution and rising e-commerce use and this trend has been exacerbated by the current environment, making industrial properties attractive to many investors.”

Scott Stewart 

  Scott Stewart at Lee & Associates represented MCA as the seller. Barret Woods at Lee & Associates represented the buyer.

 MCA Realty initially acquired the property, which consists of two separate buildings, in September 2018 for $10 million.

 “We were able to lease the remaining vacancy in the property during escrow when we first acquired it, and significantly shorten our expected hold period.” says Mattox. 

“This increased the value of the asset more rapidly which allowed us to sell it for a reasonable profit two years later.”

 Mattox also notes that at the time of sale the existing tenant’s lease was up for extension. The tenant opted not to exercise its below market option, which created an additional opportunity for the buyer.

 

Barret Woods 

During ownership, MCA implemented a series of improvements including the addition of LED lighting, updated asphalt, and increased the parking.

 In addition to these improvements, the firm also added additional fenced yard space, which created better functionality for the building. 

  “The upgrades to the property combined with growing demand in the region resulted in strong pricing,” says Mattox. 

“This allowed us to achieve a good return for our capital partners. We plan to continue to invest in properties throughout the western region and execute on our strategy.”

 Contacts:

 Katie Haga / Lexi Astfalk

Brower Group
(949) 438-6262
khaga@brower-group.com

 

 

Daum Commercial Directs $37 Million Sale of New Industrial Building in West Rancho Dominguez Submarket of Los Angeles County

Anthony Bergeman

WEST RANCHO DOMINGUEZ, CA – DAUM Commercial Real Estate Services has directed the sale of a brand new, state-of-the-art industrial facility totaling more than 112,075 square feet in the supply-constrained Rancho Dominguez submarket of Los Angeles County, California, for $37.32 million on behalf of the developer and landlord, a partnership between Panattoni Development Company and M. Payne Investments.

 Anthony Bergeman, Executive Vice President and Principal at DAUM Commercial Real Estate Services, initially directed the sale of the land to the developer, led the leasing of the new building upon completion of construction and now directed the disposition of the fully leased asset.

Joe Carroll

 “The South Bay area of Los Angeles County remains in high demand among industrial users, as well as investors due to its close proximity to major thoroughfares, providing convenient access throughout the entire L.A. Metro and greater Southern California region,” explains Bergeman, who notes that the tight Rancho Dominguez submarket is currently seeing vacancies hovering just above 3%.

 “The industrial sector is an asset class that has continued to perform despite the pandemic,” he explains. “This strong demand, coupled with the quality new construction of the asset and quality tenant allowed us to break the South Bay record of price-per-square-foot for the sale of a Class A industrial property for a large credit tenant.”

 Ryan Plummer

 The tenant, an industry leading multinational company, signed a long-term lease to occupy the entire property earlier this year, according to Bergeman, who also represented the lessor alongside Resource One Real Estate and Development’s Joe Carroll.

 “Our ability to work closely with the developer on identifying the initial parcel of land, tenanting the property and directing the sale of the final completed asset speaks to our strength as a true partner to our clients,” says Bergeman.

  “This sale is also demonstrative of our deep expertise in the LA market and ability to aid developers at every level to bring a property full cycle.”

 The industrial asset offers immediate access to the 110, 105, 405, and 91 freeways and close proximity to LAX and the Ports of Los Angeles and Long Beach. 

 Andrey Mindirgasov

Building also features include 19 dock-high doors, three grade-level doors, 32-foot clear height, 3,600 square feet of modern creative office space, an ESFR sprinkler system, drive-through capabilities, and major frontage on three streets.

 The property is located at 15100 South San Pedro Street in West Rancho Dominguez, California.

 The buyer was represented by Ryan Plummer, Andrey Mindirgasov, Sean Fulp and Mark Schuessler at Newark Group, Inc.

 Contacts:

 Katie Haga / Elisabeth Manville

Brower Group
(949) 438-6262
khaga@brower-group.com

 

Arbor Funds $18.2 Million Bridge Loan in College Park, GA

The Life at Avery Park apartments, College Park, GA

 

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in College Park, GA. The 220-unit property received $18.2M in acquisition funding. 

 Joseph Charneski of Arbor’s New York City office originated the deal.

 “We were pleased to assist repeat sponsor, Sureste Partners, LP, continue their growth in the metropolitan Atlanta area,” Charneski said. “This loan provided our borrower with the renovation dollars needed to implement their capital improvement plan and to reposition the property in the marketplace.” 

 Joseph Charneski

 The Life at Avery Park was built in 1970. The pet-friendly complex includes spacious two- and three-bedroom floorplans with granite countertops and stainless steel appliances.

 Surrounded by lush landscape, the multifamily property features a swimming pool with sun deck and new playground.

 It is conveniently located with office parks, Hartsfield-Jackson Atlanta International Airport, and public transportation nearby. 

  Contact:

  Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

 

Dream Finders Homes’ Holly Forest Amenity Center to Open Early Next Year at Silverleaf Master-Planned Community in St. Johns County, FL

Brad Muston

 ST. JOHNS COUNTY, FL – Holly Forest – a Dream Finders Homes’ neighborhood within a larger development – soon will have its own amenity center at the master-planned community of Silverleaf, off County Road 210.

 Division President Brad Muston said when the Holly Forest amenities center is completed in early 2021 it will offer a lap pool with a zero-entry, a fenced playground with a shaded sitting area, a large event lawn, and a cabana-style clubhouse.

 

“Those features are in addition to others at Silverleaf, including tennis and pickleball courts, dog parks, and numerous pools and water parks designed for adults, families and kids,” he said.

 

The 8,500-acre development that comprises Silverleaf has more than 3,500 acres of conservation and offers quick access to Interstate 95 for a 25-minute drive to historic St. Augustine or downtown Jacksonville , he added.

 

Dream Finders Homes currently has a total of 76 homesites [18 43-foot lots and 58 53-foot lots] available in Holly Forest , where prices start in the low $300,000s for plans ranging from 1,622 to 3,518 square feet of living area.

 

                    Holly Forest Amenities Center, Silverleaf Community,
                                            St. Johns County, FL

 

The one- and two-story floor homes can be built from 17 different floor plans that offer three to six bedrooms and two to three baths.

 

For more information, please visit www.dreamfindershomes.com or call 888-214-1164. 

 

 

Contacts:

 

Brad Muston, Division President

 Dream Finders Homes,

 888-214 1164

 Brad.Muston@dreamfindershomes.com

 

Caroline Marchant, Marketing Assistant,

 Dream Finders Homes,

 888-214-1164

 Caroline.Marchant@dreamfindershomes.com  

 

Beth Payan, Larry Vershel Communications

 407-644-4142 or

 407-461-3781; beth@larryvershel.com.