Archives

Jacksonville, FL - August 26, 2014 - (RealEstateRama) -- CBRE’s Debt & Structured Finance group has secured a $27.38 million loan for the acquisition of The Waterford at Mandarin Apartments, a 232-unit property at 11247 San Jose Boulevard in the Mandarin submarket of Jacksonville, FL. CBRE arranged the loan on behalf of Harbor Group International of Norfolk, VA. Freddie Mac provided the seven-year loan with interest-only payments for two years, at an aggressive floating interest rate and 75% loan-to-value ratio

SANA ANA, CA - August 26, 2014 - (RealEstateRama) -- Tom Nguyen, EVP with Orange County office and founding member of NAI Capital’s Asia Pacific Group, represented the Seller, Civic Center Professional Building Inc., in the sale of 105,199 SF office property located at 901 Civic Center Drive in Santa Ana, CA to the Buyer, BW America Development, LLC. The value of the sales transaction was $12,018,000 Million dollars

Fort Lauderdale, FL - August 19, 2014 - (RealEstateRama) -- CBRE arranged the purchase of the former Fort Lauderdale headquarters for GoodRoads, a 68,500-square-foot, Class A, free-standing manufacturing and distribution facility at 3600 NW 54th Street in Fort Lauderdale. KTR Capital Partners (KTR) acquired the property at a price that remains confidential. CBRE represented KTR in the transaction. KTR plans major renovations to the facility and has hired CBRE to rebrand and market the facility for lease.

Jensen Beach, FL - August 19, 2014 - (RealEstateRama) -- CBRE arranged the sale of Marketplace Square, a 173,292-square-foot retail center at 3255 NW Federal Highway in Jensen Beach, Florida. Leon Capital Group acquired the property from Kimco Realty Corp. for $17.3 million. CBRE represented the seller in the transaction.

Tampa, FL - August 19, 2014 - (RealEstateRama) -- CBRE has been selected by the Ryan Companies as the exclusive leasing agent for Southern Oaks at Telecom Park, a two-building Class A office complex with a total of 230,000 rentable square feet, located at 7810-7860 East Telecom Parkway in Temple Terrace, Florida. This pre-lease/build-to-suit property is registered for LEED certification and offers large, collaborative floor plates of 28,750 rentable square feet

Miami, FL - August 18, 2014 - (RealEstateRama) -- Federal regulations proposed to strengthen student outcomes at for-profit schools could have an impact on space absorption and vacancy rates in certain Florida commercial real estate markets, according to research conducted by CBRE. This month’s CBRE Florida Viewpoint finds at least three major institutions have reduced their office footprint since the new school performance mandates were proposed in 2011.

Hialeah, FL - August 13, 2014 - (RealEstateRama) -- CBRE has arranged a five-year lease of 32,666 square feet of industrial space at Miami Cargo East, located at 725 SE 9th Court in in Hialeah, Florida, to O.C. Communications, a full-service contracting firm specializing in the installation, project management, and maintenance of communication systems, and a contractor for Comcast. Allen Lindow, CCIM, Senior Associate with the CBRE Occupier Services Group in Fort Lauderdale, in conjunction with David Planting, Senior Associate with CBRE in Sacramento, CA, represented O.C. Communications in the transaction. Americas Industrial Realty represented owner Keating Resources

Miami, FL - August 12, 2014 - (RealEstateRama) -- CBRE’s Debt & Structured Finance Group has secured a $13.35 million bridge loan on behalf of Adler Kawa Real Estate Advisors to acquire four buildings in the Oak Hill Business Park, encompassing 248,487 square feet in the I-77 corridor of Charlotte, NC. Wells Fargo originated the loan, which is floating over Libor, at aggressive rates and terms

Miami, FL and Los Angeles, CA - August 12, 2014 - (RealEstateRama) -- The ever-evolving global supply chain is prompting distribution companies that process freight shipments between the U.S. and Asia to optimize their U.S. industrial real estate portfolios to increase efficiencies and cost savings. These companies are heavily scrutinizing transportation costs in East Coast and West Coast seaports—and inland cities with strong transportation links—locating facilities in markets best able to serve

ENCINO, CA - August 8, 2014 - (RealEstateRama) -- West L.A.’s Kevin Kawaoka, CCIM & Mario Gandara with NAI Capital’s Bluechip Investment Group represented the Seller, Likan LLC, and the Buyer, Fordcraw LLC, in the sale and purchase of a 14 unit multifamily property located at 3249-3253 Marine Ave in Gardena, CA. The value of the sales transaction was $2 million dollars

Dania Beach, FL - August 7, 2014 - (RealEstateRama) -- CBRE arranged a lease at Lakeview Center, a Class A industrial park owned by an affiliate of Industrial Income Trust Inc. (IIT), in Dania Beach, FL. The relocation of the premium resort-wear brand Lagaci, Inc. brings the 210,350-square-foot property to 90% occupancy and further tightens the availability of Class A industrial space in Southeast Broward County. CBRE represented the landlord

Tampa, FL - August 6, 2014 - (RealEstateRama) -- CBRE arranged the retention of an aerospace and national security contractor as a major tenant at the Kennedy Center in Tampa. Under the agreement, L-3 Communications will continue to lease 23,122 square feet from Realty Equity Partner, Inc., at 5100 West Kennedy Blvd., while retaining prominent building signage rights in Tampa’s Westshore business district

ENCINO, CA - August 6, 2014 - (RealEstateRama) -- Jeremy Barbakow, SVP with the Encino office who specializes in medical office leasing in the San Fernando Valley, represented landlords and tenants in the leasing of seven medical offices in Encino, six of which were on Ventura Boulevard. Noteworthy transactions include a secondary location for the Kagan Eye Institute, a start-up surgical center, a new pediatric dental office, and a consolidation of offices for Cardiovascular Consultants Medical Group. The total lease transaction value was approximately was $5.8 million

Orlando, FL - August 6, 2014 - (RealEstateRama) -- CBRE arranged the sale of the Villages Portfolio, three apartment properties totaling 710 units in Central Florida. The portfolio includes Village at East Lake, in Clermont; Village at Lake Ned, in Winter Haven; and Village at Park Road, in Plant City. Philadelphia-based Equus Holdings acquired the properties from a partnership between Alex. Brown Realty of Baltimore, MD, and Oculus Development of Chicago for $62 million. CBRE exclusively represented the seller in the transaction, and also provided the financing for the buyer through Fannie Mae

Fort Lauderdale, FL - August 4, 2014 - (RealEstateRama) -- CBRE is officially the City of Fort Lauderdale’s new real estate advisor. On June 23, 2014, following a competitive procurement process, the City Commission approved a contract to hire CBRE as the City’s real estate services and transaction provider for one year with three possible one-year extensions commencing July 2014. The firm’s mandate is to reduce the City’s operating real estate expenses, align real estate operations with the services provided to citizens, monetize underutilized real estate assets and dispose of surplus assets.

IRVINE, CA - August 4, 2014 - (RealEstateRama) -- NAI Capital Orange County has expanded their ground floor offices at Main Plaza located at 1920 Main Street in Irvine, CA 92614. The expansion is due to the addition of Chris Arvizu and the Multi-Family Services Group as well as the dramatic growth of their NAI Capital Property Management Services operation.

WASHINGTON, D.C. - July 23, 2014 - (RealEstateRama) -- The Federal Housing Administration celebrated its 80th anniversary today at the White House with two panel discussions highlighting the past, present, and future of the agency and its impact on homeownership. National Association of Realtors® President Steve Brown joined distinguished speakers on the second panel to emphasize the significance of FHA-backed loans to the real estate market and housing recovery.

COUNTY OF SAN BERNARDINO, CALIF. - July 23, 2014 - (RealEstateRama) -- Yokohama Tire Corporation (YTC) has chosen the County of San Bernardino for expansion into a larger Western Region Distribution Center. The company has leased a newly-constructed, 658,000-square-foot facility located at 16388 Fern Ave., Building 2 in the city of Chino, which it plans to occupy late this year. Yokohama will distribute its products, including passenger car/truck, commercial truck and OTR (Off-the-Road) tires from the facility. The company is relocating its warehouse operations from its current 380,000-square-foot facility in the city of Fullerton

New York, NY - July 23, 2014 - (RealEstateRama) -- PCCP, LLC announced today it has provided a $25.1 million senior loan to PDC Memphis Oaks 3 Holdings, LLC, a Class A distribution property totaling 1,025,000 square feet in Memphis, TN managed and sponsored by affiliates of Panattoni Development Company. The loan will recapitalize the existing financing, and will allow Panattoni to focus on leasing efforts on existing and future vacant space

GARDEN GROVE, CALIF. - July 23, 2014 - (RealEstateRama) -- CBRE Senior Vice President Philip D. Voorhees announced today that he, Brad Rable and their National Retail Investment Group – West (NRIG-West) team completed the sale of Garden Grove Festival Square, a 35,515-square-foot strip center in the City of Garden Grove, Calif., leased to a synergistic mix of regional and local tenants including Popular Community Bank, Woori American Bank and United Dental Group. The sale price was $11.9 million, representing a 5.59% cap rate.