Monday, August 2, 2021

NAI Realvest's Mary Frances West Brokers Three New Central Florida Commercial Deals

 Mary Frances West
 

ORLANDO, FL – Mary Frances West, CCIM, Vice President at NAI Realvest, recently represented two new Arthur Murray franchises in finding locations.

She also recently represented the owner, Casa Acacia, LLC, of a two-story, multi-use facility located at 1865 North Econlockhatchee Trail, Orlando, FL.

Arlene Martinez

 Casa Acacia sold the 16,597 SF building on 3.04 acres for $2,500,000.  The buyer, Spale Holdings, LLC, plans to use the property for a STEM school. 

Nicholas Alix

The buyer was represented by Nicholas Alix and Arlene Martinez with Grizzard Commercial Real Estate Group.

 West has represented Arthur Murray franchisees in finding locations in Winter Park, Lake Mary, Dr. Phillips, Waterford Lakes and Ormond Beach.

 In Sarasota, Jessica Benitez and Bryan Gaj leased 2,547 SF in Square South Plaza, 8383 Tamiami Trail, Ste 114. 

Susanne Arbagy

  Ms. Benitez and Mr. Gaj have been Arthur Murray instructors for 11 years, and are re-locating from New York City to open this new location, which just opened. 

 The landlord, Square South Plaza, LLLP was represented by Susanne Arbagy with ICORR Properties International.

 In Orange City, IMKC, Inc. dba Arthur Murray Dance Studio leased 3,167 SF in the West Volusia Retail Center, 855 Harley Strickland Blvd, Ste 855.  The studio plans to open by fall 2021.

 

CONTACTS:

 Mary Frances West, CCIM, Vice President, NAI Realvest

407-875-9989, mfwest@realvest.com

 

Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com


Yelena Gurtovenko 

ygurtovenko@realvest.com

Daum Commercial Secures Long-Term Lease for 202,400-SF Industrial Building in Moorpark, CA

 

Amazon is leasing this 202,400-SF
 Industrial Building
 
at 6000 Condor Drive
  in Moorpark, CA, a deal arranged
by Daum Commercial


Bram White

MOORPARK, CA -- DAUM Commercial Real Estate Services has completed the long-term lease of a 202,421 square-foot industrial building in the Ventura County submarket of Moorpark, California on behalf of the lessor interest through Transwestern Development Company, who was the project developer.

The property, which is also managed by Transwestern, was leased to Amazon, according to Bram White, SIOR, an Executive Vice President at DAUM Commercial, who represented the lessor along with Don Thordarson of Donald J. Thordarson, Inc.

 Don and I helped the lessor acquire this property in 2018 and had a comprehensive understanding of the goals for this investment,” explains White. 

 “Drawing upon this knowledge and our relationships in the market, and through a very active marketing campaign, this quality tenant was brought to the table by its agent, Tim Wallace of Cushman & Wakefield.”

Tim Wallace 
 White notes that he also represented the previous owner in the lease of the same building seven years ago, completing a hat trick with this latest transaction that demonstrates his deep expertise in this submarket and the unique offering this property brings.

“In our extensive marketing campaign we ‘left no stone unturned’ in our relentless efforts to secure a great tenant for this excellent facility,” says Thordarson.

 

The asset was recently refurbished, providing the tenant an ideal space for its last mile operations.

 Stephen Batcheller, Regional Partner at Transwestern, adds: “We are very pleased with the outcome of this project and greatly appreciate working with, and the contributions of, the talented people at DAUM Commercial Real Estate Services.”

 Stephen Batcheller
 The property features 16 dock-high positions, 24-foot ceiling clearance, and a secure fenced yard with parking for up to 405 cars.

 The location offers close proximity to California State Routes 118 and 23, providing ease-of-access throughout the Southern California region.

 The building is located at 6000 Condor Drive in Moorpark, California.

 

 

CONTACTS:

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

www.daumcommercial.com.

 

Castell Project and She Has A Deal Announce Joint Venture to Build Fortuna’s Table

 

Peggy Berg

ATLANTA, GA,  Aug. 2, 2021—Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, and She Has A Deal (SHaD), a real estate investment platform that creates pathways to hotel ownership and development for women, today announced the launch of Fortuna’s Table, http://fortunastable.org

Named after the goddess of fortune and the personification of luck, the new endeavor provides an online community filled with resources to allow diverse potential hotel owners to make their hotel ownership dreams a reality. 

 

 Tyche is the Greek goddess
of fortune and the
personification of luck
,



“With the completion of a very successful testing period with 30 participants, we are ready to launch Fortuna’s Table and welcome prospective hoteliers,” said Peggy Berg, chair, Castell Project, Inc. 

  “Both She Has a Deal and the Castell Project are dedicated to advancing women within the hospitality industry, and there is no more powerful vehicle to do so than through hotel ownership"

 

Tracy Prigmore 

 “Fortuna’s Table fosters hotel ownership within communities that traditionally have not had access to the investment side of the business by providing them with knowledge and resources that build confidence and accelerate their ability to take action” said Tracy Prigmore of TLTsolutions and She Has a Deal founder. 

  “The initial feedback we’ve received has been extremely encouraging.  Already, this site is being used by women with successful careers in hospitality and in other industries, who have dreamed of owning a hotel, but didn’t know where or how to begin.”

 To learn more and/or subscribe, please visit http://fortunastable.org.

 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

 

JLL Capital Markets closes sale of Parallax, a Class A multi-housing community in Portland, Oregon's Boise-Eliot neighborhood

Carrie Kahn
  

PORTLAND, OR, Aug. 2, 2021 – JLL Capital Markets announced today that it has closed the sale of Parallax, a 66-unit, Class A, luxury multi-housing community in the Boise-Eliot neighborhood of Portland, Oregon.

 JLL marketed the property on behalf of local sellers, VWR Development and Holt Group IncA California-based private investor acquired the property.

Parallax apartments, Portland, OR

 Completed in June 2020, Parallax comprises studio, one- and two-bedroom units ranging from 377 to 742 square feet.

Additionally, there are 3,444 square feet of retail space. Units feature nine- to 14-foot ceilings, floor-to-ceiling windows, stainless steel appliances, gas range, modern cabinetry, tile backsplash, luxury vinyl plank flooring, solar shades, a washer and dryer and air conditioning ports.

Community amenities include a rooftop terrace with fire pit and barbecue, paid gated parking, controlled access, 24/7 package lockers and a community lounge.

Ira Virden
           

Located in the Boise-Eliot neighborhood, the community benefits from immediate access to three of Portland’s most well-known retail, dining and entertainment corridors – North Williams Avenue, North Mississippi Avenue and Northeast Alberta Street.

In addition, Parallax is surrounded by the city’s largest employers, including expanding Adidas and Daimler North American Headquarters.

Frank Solorzano

Over the last 10 years, the area's resurgence has transformed it into a walkable, bikeable, mixed-use lifestyle and leisure activity hub that attracts highly paid and educated renters.

 The JLL Capital Markets investment sales team that represented the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.


 “The quality of construction, strong urban location and improving market fundamentals, combined with a substantial decline in the multi-housing development pipeline over the next 18 months make Parallax an extremely attractive investment opportunity today,” Kahn said.

“Additionally, its strong performance during an extraordinarily challenging time in the market highlights the resilience of well-located, high-quality apartment properties.”   

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

CONTACT:

 Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

Sunday, August 1, 2021

JLL welcomes two industry veterans to New York Capital Markets

 

Michael Zaremski

NEW YORK, NY — JLL Capital Markets it has hired 12-year industry veteran Michael Zaremski and 10-year industry veteran Michael Shmuely as Managing Directors with the firm’s New York Capital Markets team.

 

Zaremski and Shmuely will focus on multi-housing debt advisory, working alongside Michael Gigliotti and Christopher Peck, Senior Managing Directors and Co-heads of the New York Capital Markets team.

 

Michael Shmuely

Zaremski and Shmuely, both former Senior Directors with a commercial services firm, bring a deep understanding of bridge financing, GSE financing, debt brokerage and mortgage originations across all property types with a specialized focus on multifamily.

 

In addition to their industry leading expertise in agency lending, they have experience creating financing solutions for clients by utilizing third-party capital sources, including life insurance companies, CMBS, banks and debt funds.

 

Zaremski graduated with a Bachelor of Science from Indiana University and earned his certificate in Real Estate Finance and Investment from New York University Schack Institute of Real Estate.

 

Michael Gigliotti 

Shmuely graduated with a Bachelor of Arts in economics from the University of Michigan. He has also served as a board member for Friends of Israel Disabled Veterans and UJA’s Real Estate Division as chair on the Friends of Israel Disabled Veterans Youth Leadership Group and as vice chair for the American Society for Yad Vashem Young Leadership.

 

“We are pleased to welcome these two industry leaders to the JLL team,” Gigliotti said. “Their wide-ranging knowledge and expertise will provide a powerful asset to our clients.

"Most important, they are an exceptional cultural fit for JLL, and we look forward to working with them to expand our market share in the multi-housing debt space.”


Christopher Peck
 

“I am excited to bring my experience to the JLL platform,” Zaremski added. “The company’s full suite of services enables it to structure comprehensive solutions for complex projects.”

 

“We hope to expand on JLL’s collaborative and client-centric approach to capital advisory,” Shmuely said. “Increasing the team’s multi-housing deal flow elevates the platform and our ability to navigate, develop and execute post-pandemic market strategies.”

 


CONTACTS:

 

 

Kimberly Steele

PR, Capital Markets

 Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 

 George Shea, Rachel Tate

 Shea Communications

Phone: +1 212 627 5766

Email: rachel@sheacommunications.com

 

Levin Johnston Brokers Sales of Two Bay Area Properties Totaling $30.8 Million

 Casa De Luna, a 48-unit multifamily community
 in Hayward, CA
 

BAY AREA, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has announced the successful completion of two multifamily acquisitions totaling $30.8 million in the East Bay area of California on behalf of an active local private investor.

 The acquisitions comprise two apartment communities totaling 96 units in the Hayward submarket, which benefits from its position within a market with the most technology jobs per capita - a factor that will drive sustained rental demand, according to Adam Levin, Executive Managing Director of Levin Johnston.

Adam Levin
 “These acquisitions represent a tremendous opportunity for long-term value creation, giving our client the opportunity to complete two strategic 1031 exchange transactions and reinvest in the Bay Area’s resurging economy,” says Levin.

 “As Bay Area investment activity picks up rapidly, we were able to seamlessly secure and finalize these acquisitions based on our close relationships with the buyer and our vast knowledge of this dynamic market.”

 Robert Johnston, Senior Managing Director of Levin Johnston, adds: “Our team identified two valuable assets within Alameda County which offered our client additional diversification within their portfolio.

 Robert Johnston
 "We continuously direct our clients toward the best assets tailored to their individual portfolio and investment goals, helping them continuously gain confidence and traction in their position within the market.”

 Johnston notes both apartment communities are in well-located residential areas and are positioned to benefit from the increase in multifamily needs as local Bay Area workers return to the office or migrate to the East Bay to benefit from local job growth.

 Levin Johnston’s recent transactions include:

 $15.85 Million Acquisition of The Townhomes of Casa De Luna

Levin Johnston of Marcus & Millichap arranged the acquisition of The Townhomes of Casa De Luna, a 48-unit multifamily community in Hayward, California for $15.85 million, on behalf of a local private investor.

 Casa De Luna offers residents close proximity to highways, interstates, and mass transit for a direct commute to nearby employment hubs such as San Francisco, San Jose, and Union City.

 Adam Levin of Levin Johnston represented Brian Murphy of Dimond Property, LP as the seller in the transaction.

Shadow Creek Apartments, Hayward, CA
 

$15 Million Acquisition of Shadow Creek Apartments

 Levin Johnston also directed the acquisition of Shadow Creek Apartments, a 48-unit apartment community in Hayward, California for $15 million on behalf of the same private local investor of Casa De Luna.

 Shadow Creek Apartments offers direct access to the San Mateo Bridge, Dry Creek Pioneer Regional Park, and various nearby parks and hiking areas.

Chris Saiz 
 Renters also enjoy close proximity to education institutions, with California State University, Easy Bay only a ten-minute drive away.

Adam Levin, Robert Johnston and Chris Saiz of Levin Johnston represented Adeline Machado as the seller in the transaction.

 

 

CONTACTS:

           

Arleeny Escarcega / Jenn Quader

Brower Group

(949) 438-6262

aescarcega@brower-group.com

 

www.levinjohnston.com

In NCLA Amicus Win, Sixth Circuit Affirms Decision Invalidating CDC’s Eviction Moratorium

Caleb Kruckenberg
 

 Tiger Lily, LLC, et al. v. United States Department of Housing and Urban Development, et al.

 

Washington, DC  On July 23, the U.S. Court of Appeals for the Sixth Circuit affirmed the March 2021 decision of the Western District of Tennessee in Tiger Lily, LLC, et al. v. United States Department of Housing and Urban Development, et al.

 

The ruling invalidates the eviction moratorium order imposed by the Centers for Disease Control and Prevention (CDC).

 

 The Sixth Circuit held that the nationwide moratorium issued by CDC, stopping residential evictions, exceeds the agency’s statutory authority.

 

 The New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights group, filed a successful amici curiae brief in the federal district court in Tiger Lily.

 

NCLA’s brief—signed by amici NCLA, the Beacon Center of Tennessee, the National Apartment Association, and the National Association of Residential Property Managers—argued that Congress never granted CDC the unlimited authority to take any conceivable action it deems necessary to fight infection.

 

Congress never anticipated that CDC would intrude into the operations of state landlord-tenant courts under the pretense of protecting public health.

 

 Ultimately, the District Court—and now the Sixth Circuit—adopted NCLA’s argument.

 

The court concluded that Congress did not authorize the CDC to “shut down evictions across the country.” Absent an exceedingly clear congressional mandate, the Sixth Circuit ruled, “the CDC cannot nationalize landlord-tenant law.”


Judge Amul Thapar

Judge Amul Thapar agreed with the panel’s decision but wrote separately to highlight the separation-of-powers concerns that arise when an administrative agency oversteps its bounds. 

 

As Judge Thapar explained, the Founders designed Congress to be the branch that is “most responsive to the will of the people.”

 

 “By shifting responsibility to a less accountable branch, Congress protects itself from political censure—and deprives the people of the say the framers intended them to have. 

 

"And yet, over the years, the guardrails have crumbled.” 

 

Judge Thapar called on the Supreme Court to “consider breathing new life” into the nondelegation doctrine. 

 

The case against CDC proves why a strong nondelegation doctrine is so important, Judge Thapar concluded: “It is not our job as judges to make legislative rules that favor one side or another. 

 

"But nor should it be the job of bureaucrats embedded in the executive branch. While landlords and tenants likely disagree on much, there is one thing both deserve: for their problems to be resolved by their elected representative.”


Philip Hamburger 


NCLA released the following statement:

 

“The Sixth Circuit has rejected CDC’s view that it has unlimited power to prohibit or require anything it can imagine. CDC has taken a terrifying view of its own authority, and the court wisely understood that our constitutional protections must be protected most in times of crisis.”

— Caleb Kruckenberg, NCLA Litigation Counsel


Judy Pino

 

ABOUT NCLA

 

NCLA is a nonpartisan, nonprofit civil rights group founded by prominent legal scholar Philip Hamburger to protect constitutional freedoms from violations by the Administrative State.

 

 NCLA’s public-interest litigation and other pro bono advocacy strive to tame the unlawful power of state and federal agencies and to foster a new civil liberties movement that will help restore Americans’ fundamental rights.

 

 

CONTACT:

           

Judy Pino

202-869-5218

 judy.pino@ncla.legal