Posts Tagged ‘transactions’

SRS Real Estate Partners’ May Transactions

Monday, July 28th, 2014


Dallas, Texas (PRWEB) June 03, 2014

SRS Real Estate Partners (SRS) announces highlights of May transactions and new assignments.

Atlanta:

The SRS Southeast Investment Sales team has brokered the sale of an 180,145-square-foot community shopping center in Carrollton, Ga. The property is located at 1004 Veterans Memorial Highway; which is situated along U.S. Highway 166, just west of the intersection of Northside Drive and Bankhead Highway. The property, which is anchored by Food Depot, Citi Trends, Farmers Home Furniture and Freds Super Dollar, was sold for $ 4.35 million.

Kyle Stonis and Pierce Mayson in the SRS Atlanta office represented the seller, Mimms Enterprises, in the transaction. Scott Tarbet, with RCG Ventures, represented the buyer.

Dallas/Ft. Worth:

Legacy Salons & Day Spa has leased a 9,143-square-foot space at Overton Park Plaza in Fort Worth, Texas. Overton Park Plaza is located on SW Loop 820 and S. Hulen Street. Neighboring tenants within this 463,000-square-foot shopping center include T.J. Maxx, HomeGoods, PetSmart, buybuy BABY, Sprouts and Sports Authority. This will be Legacy Salons & Day Spas tenth location in the Dallas/Fort Worth Metroplex.

Carey Moen of the SRS Dallas office represented Legacy Salons & Day Spa in the transaction. Weingarten Realty is the landlord for this development.

Carters, Inc. opened a 6,536-square-foot Carters/OshKosh Bgosh combo store at Alliance Town Center in Fort Worth, Texas. Alliance Town Center is located at I-35W and Heritage Trace Parkway in Fort Worth, Texas. This childrens fashion retailer joins anchors Belk, JCPenney, Dicks Sporting Goods, Havertys, and Best Buy, as well as many other national and local retailers including Hobby Lobby and Sam Moon within the 1.M-square-foot open-air, regional hybrid retail center.

Dawn Greiner and Carey Moen of the SRS Dallas office represented the tenant, Carters, Inc. in the transaction. Alliance Town Center is a development by Hillwood and Trademark Property Company.

Orlando:

SRS Real Estate Partners has been selected to manage the retail leasing for Pointe Orlando, an inviting collection of outdoor shopping, dining, and entertainment located adjacent to the Orange County Convention Center.

Jason Kaiser, CCIM and John Artope of the SRS Orlando office are the exclusive retail leasing brokers for Pointe Orlando.

Phoenix:

ULTA Beauty has leased a 10,000-square-foot space in Prescott Valley Crossroads Shopping Center. The Prescott Valley location plans to open later this year and will be their 24th in Arizona.

Prescott Valley Crossroads is located along Highway 69 and Sundog Ranch Road in Prescott Valley, Ariz. Prescott Valley Crossroads is the Prescott Valleys first power center. Crossroads, a 600,000-square-foot power center is home to a variety of large and small retailers and restaurants, including Dicks Sporting Goods, Hobby Lobby, Home Depot, Sam’s Club, and Sprouts Farmers Market.

Mike Polachek of the SRS Phoenix office represented the tenant, ULTA Beauty, in the transaction. Greg Laing of Phoenix Commercial Advisors represented Kitchell Development on this transaction. Rob Schramm with Kitchell Development, negotiated on behalf of the landlord.

The SRS Phoenix office is pleased to announce two new leases at College Park, a neighborhood shopping center adjacent to Grand Canyon University located at the northeast corner of Camelback Road and 35th Avenue in Phoenix, Ariz.

Epic Thrift has leased approximately 15,000 square feet of space in the shopping center. Epic Thrift has five locations in Phoenix and College Park will serve as their sixth location in Arizona. The College Park location is scheduled to open late summer or fall 2014.

The second lease is with Metro PCS, a no annual contract cell phone provider. Metro PCS leased a 1,200-square-foot space and is scheduled to open summer 2014. Other notable tenants located at College Park include; Subway, El Taco Tote, Grand Mart and Great Wall Restaurant.

Scott Ellsworth and Brian Polachek of the SRS Phoenix office represented the landlord, Fortuna Asset Management, in both transactions. Neil Board with Western Retail Advisors represented Epic Thrift.

San Francisco:

Sola Salon Studios opened a 6,500-square-foot salon in the On Broadway retail center in downtown Redwood City, Calif. on May 1. Located at 2115 Broadway Ave., On Broadway is anchored by a 20-screen Century Theatre complex and includes ample underground parking. Sola Salon Studios joins Cost Plus Imports, Old Spaghetti Factory, Pizza My Heart, DB Shoes and other retailers at this well-trafficked location. Sola Salon Studios has seven other sites in the San Francisco Bay Area and over 150 locations nationwide.

Sara Sanders of SRS San Francisco office represented Sola Salon Studios in the transaction. Courtney Jones with Crosspoint Realty Services represented the landlord, On Broadway Investors LLC.

BevMo! will open a 12,800-square-foot store in Sacramentos downtown commercial district on June 13, 2014. Located at 1700 J. St., Bevmo! has a 15-year lease on this classic brick structure built in 1920. Formerly occupied by The Beat, this prominent mid-town historic site also benefits from having its own parking lot, which is unusual for the area. CVS Pharmacy and Office Max are in the immediate vicinity, with the Sacramento Convention center only three blocks away.

Matt Alexander and Ross White of the SRS San Francisco office represented BevMo! in the transaction. Mark Engemann and David Herrera with Colliers represented the landlord.

About SRS Real Estate Partners

SRS Real Estate Partners is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industrys most influential and respected leaders. Our success is measured in the achievement of our clients objectives, satisfaction and trust. For more information, please visit http://www.srsre.com.







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SRS Real Estate Partners’ June Transactions

Wednesday, July 16th, 2014


Dallas, TX (PRWEB) July 14, 2014

SRS Real Estate Partners (SRS) announces highlights of June transactions and new assignments.

Atlanta:

SRS Real Estate Partners announced that the project leasing team in Atlanta has secured three new leases at Krog Street Market (KSM), a 30,000-square-foot mixed-use redevelopment project owned by Paces Properties. Yalla, a contemporary middle-eastern food stall, has leased a 400-square-foot space and will offer a menu featuring shawarma, kebabs, falafel, fresh-baked pita and laffa, and a variety of salads from Executive Chef Todd Ginsberg. Mama Bath + Body has leased a 400-square-foot market stall and will feature an all-natural line of handmade olive oil soaps, body care products, and soy candles as well as gifts and cards. Another 400-square-foot market stall was leased by Xocolatl, a chocolate micro-factory. Xocolatl will produce handcrafted and hand wrapped artisanal chocolate bars. Krog Street Market continues to grow the unique mix of restaurant and retailers offerings and these new tenants are a direct reflection of the developments concept.

Krog Street Market is scheduled to open for business in late summer 2014. The entire project will consist of chef-driven restaurants with extensive covered patios, with a 6,000-square-foot indoor market with local retailers as the focal point. The project is located along Krog Street at the southeast corner of the intersection of Krog Street and Irwin Street in Inman Park and is situated along the Atlanta Beltline, adjacent to the proposed light rail station and within walking distance to the MARTA.

Lily H. Heimburger of the SRS Atlanta office represents the landlord, Paces Properties, LLC. The new tenants did not have broker representation in these transactions.

Austin:

SRS Real Estate Partners announced the relocation of the Austin office to 901 S. Mopac Expy, Building II, Suite 500, Austin, Texas where the team will continue to serve clients in the Austin, Cedar Park, and Round Rock areas.

The Austin office has welcomed many new faces to the team in the past four months. In February, Will Majors joined as senior vice president and market leader, followed by T.J. Powell as first vice president and Carson Hawley as associate. They also recently welcomed Lindsay Civitarese as marketing coordinator, who will provide office and marketing support for the team.

The new SRS Austin office is located in West Austin adjacent to the Barton Creek Greenbelt and Zilker Park. It offers a view of the Austin skyline and convenient access to downtown. The office relocation was completed on June 30.

Birmingham:

The SRS Birmingham office has announced four new store openings, a relocation and expansion and a renewal and expansion in Midtown Village Shopping Center, a retail hub of Tuscaloosa.

Dickeys Barbecue Pit opened in a 2,132-square-foot space directly next door to Ulta. Dickeys offers a wide variety of pit smoked meats and home-style sides and also offers local catering.

Adding to the dining choices available at Midtown Village, Brothers Pizza Express opened a 2,823-square-foot restaurant. Their menu includes specialty pizzas, pastas, subs, calzones and salads.

Also opening in Midtown Village Shopping Center is Lavish. With 1,801 square feet, the boutique will carry clothing and accessories and is located between Tuscaloosa Nails and Francescas.

Total Nutrition opened in a 1,757-square-foot space and will offer a wide variety of health food alternatives and vitamins and supplements.

SRS also announces the relocation and expansion of Midtown Nails. The new location is a 3,063-square-foot space which increases their space by over 1,500 square feet. They offer a wide variety of nail and waxing services.

Wagners RunWalk, a source for running, walking and fitness shoes and apparel at Midtown Village renewed and expanded their lease space to 3,596 square feet.

The H&R Block franchise opened in a 2,183-square-foot retail space at Midtown Village. They will offer a variety of tax services and welcome walk-in customers.

Cornerstone Management opened in at 1,870-square-foot retail space. They specialize in condominium management, sales and leasing in the Tuscaloosa area.

Martin Smith of the SRS Birmingham office represented the landlord, Carlyle-Cypress Tuscaloosa I, LLC in all of the transactions.

The SRS Real Estate Partners Birmingham office also announced new store openings in three shopping centers in the Birmingham area.

Campus Spirit is opening a 2,028-square-foot space directly next to Bath and Body Works in the Fultondale Promenade Shopping Center. They will offer a variety of sporting apparel for any sport fan. They are set to open in July.

Martin Smith represented the landlord, Inland American Real Estate Management, LLC in the transaction.

At Chelsea Crossroads Shopping Center, $ 5 Teen Trends is opening a 1,400-square-foot shop that will offer a variety of items for teens including accessories, toys and apparel.

Martin Smith represented the landlord, Chelsea-Selig, LLC in the transaction.

Also opening at Bessemers Promenade Tannehill Shopping Center is a 1,006-square-foot space, home to Dru, a salon specializing in hair braiding.

Martin Smith represented the landlord, Cypress Equities, LLC in the transaction.

In addition, Martin Smith represented the landlord, BFW Liquidations in the sale of a 39,204-square-foot building on Lorna Road in Hoover. The building was sold to Magnum Properties, LLC and plans have not been made public as to what type of business will be opening and when.

About SRS Real Estate Partners

SRS Real Estate Partners is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industrys most influential and respected leaders. Our success is measured in the achievement of our clients objectives, satisfaction and trust. For more information, please visit http://www.srsre.com.







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Peak 1031 Exchange Inc.s First Quarter Analysis of Southern California Real Estate Activity Reveals Spike in Small Investor and Single Family Rental Transactions

Tuesday, May 28th, 2013


Woodland Hills, CA (PRWEB) May 23, 2013

First quarter analysis of regional trends in the industry indicates a significant increase in small investors favoring the 1031 exchange process as a means to defer capital gains taxes, states Kevin M. Levine, Executive Vice President of Peak 1031 Exchange Inc. (http://www.peakexchange.com). As Bush-era tax cuts ended at the beginning of 2013, we had anticipated a slowdown in activity as a result of heavy investor transactions at the end of 2012 to beat the deadline. To the contrary, our first quarter transaction volume shows a significant spike in 1031 exchange activity, especially among investors with strong positions in single-family residential income property.

Recent data affirms strong small investor activity in Peak 1031 Exchange Inc.s core Southern California market, with all-cash buyers in February alone accounting for 31.4 percent of the Southland homes sold, and 30.6 percent in March of this year. Despite strong acquisitions from REITs, institutional investors, and larger asset management firms in single-family properties for rental purposes, Levine comments, investors with much smaller portfolios found room to successfully participate in the market as well. Weve observed that many of the smaller investor shops utilized the Delayed Exchange in 2013 to quickly capture opportunities in an extremely competitive environment. The Delayed Exchange allows for the sale of an existing property, in which the funds are placed in a binding trust for up to 180 days while the seller identifies a similar property for acquisition and is allowed to defer capital gains taxes on the transaction. While analysts projected a slowdown in activity, Levine continues, our client base was extremely active in identifying single-family rental opportunities and leveraging their existing properties to seize on opportunities that would not be available later in the year.

Tight inventories in single family housing are causing a spike in values felt across the housing industry that could limit small investor participation, and Levine believes that those investors chose to act quickly on opportunities in light of the dwindling supply. We work with a savvy, nimble investor clientele that understood that the 1031 Exchange process could assist in mitigating severe tax liabilities as a result of the sunset of Bush era tax cuts, but concedes it could be a more difficult time ahead given the lack of single-family product available right now. However, Levines team has been working closely with investors and exploring the Reverse Exchange option. When the right investment opportunity does present itself to investors with access to available capital, states Levine, the assistance of a qualified intermediary can help them acquire the property immediately with 180 days to sell a similar property already a part of their portfolio. We anticipate being able to benefit this sector of the market with tax deferment strategies, regardless of the limitations of inventory.

Peak 1031 Exchange, Inc. is a leading national provider of tax-deferred 1031 exchange services, specializing in all like-kind transactions including Simultaneous, Delayed, Reverse, Improvement and Personal Property exchanges. It is part of the Peak Corporate Network (http://www.peakcorp.com), a brand representing a group of entities providing a comprehensive array of commercial and retail real estate services nationwide including mortgage lending, loan servicing, short sale services, foreclosure services, insurance, real estate brokerage and escrow services.







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New Hotel Developments in NYC by Hospitality Investments, Latest Hotel transactions and Hotels for Sale in New York City

Wednesday, February 27th, 2013


New York, NY (PRWEB) February 25, 2013

Hospitality Investments & Developments NYC’s premier hotel development company, is a leading resource for all the most recent transactions in the city’s hotel sector. The second day of the New Year saw the sale of two prestigious New York City hotels. The 203-room Alex Hotel at 205 East 45th Street was sold to Wyndham Worldwide Corporation for $ 115,000,000 ($ 566,502 per room). The sellers were the Rockpoint Group, Atlas Capital Group, and the Procaccianti Group. The same group of sellers sold the 289-room Flatotel for $ 180,000,000 ($ 622,837 per room) to the Chetrit Group, David Bistricer. This well-known property is expected to be transformed into upscale residential condominiums and be ready for market by June 2014.

Also, Hospitality Investments notes that InterContinental Hotels Group PLC has just announced its intent to proceed with the already-planned sale of its 87-year old flagship hotel New York Barclay (as well as its InterContinental Park Lane property in London). The group has resurrected its plan for sale based on a recovering market. Hospitality Investments explains how an increase in corporate travel and renewed interest in flagship real estate is being fuelled by sovereign wealth funds and overseas investors in search of good returns and trophy properties. According to IHG, optimum market conditions are now a reality in hotel development. The New York Barclay should sell for about $ 350,000,000

“Although NYC hotels are popular with avid investors, these lodging properties also attract crowds of regular tourists and corporate clients,” says Hospitality Investments and Developments.

During 2013, travelers to New York City will have a choice of even more affordable hospitality options. Before the end of this year, 18 mid-range hotels (3,100 rooms) are planned to open in New York City. In March, the city will see its first-ever Best Western Premier. On January 31, a Holiday Inn Express hotel opened just steps away from the Best Western, Hyatt Place, the chain’s first Manhattan property, will open on February 21 in the same location right next to the city’s latest Best Western.

The Jade Hotel in Greenwich Village / Meatpacking district opened this month.

Manhattan hotel occupancy is expected to reach a rate of at least 85% in 2013.

“During this Manhattan hotel boom, developers are now finding it easier to get construction financing,” explains Hospitality Investments.

Hilton’s next mid-price hotel, the Hampton Inn Manhattan/United Nations at 231 E. 43rd St., will start accepting guests on February 27. Marriott International plans to open six lodging properties this year (four Courtyards by Marriott, a SpringHill Suites, and a Residence Inn). Opening in November, the 68-storey combination Courtyard by Marriott and Residence Inn Manhattan/Central Park being developed at 1717 Broadway – 54th Street will become New York City’s tallest hotel.

According to Hospitality Investments and Developments,” the New York City hospitality industry is growing at record speed.”

Hospitality Investments and Developments notes how hotel transaction activity so far in 2013 compares to 2012 and 2011 statistics. The New York City hospitality sector declined greatly during 2012. A PropertyShark.com report indicated a 30% fall (just 31 deals) in hotel transactions last year. Sales volume and median price declined considerably during 2012 compared to 2011. Last year’s sales volume came in at $ 1.6 billion closed sales – a 58% decline compared to $ 3.8 billion in sales in 2011.

The significant fall in median sale price and median sale price per room shows the decline in the 2012 hotel sector. Last year, the median sale price was down 78% from 2011. The median sale price per room fell 32% – about $ 100,000 – from $ 287,000 in 2011 to $ 194,000 in 2012.

In Brooklyn, however, the median sale prices per room doubled to a record value of $ 190,000 in 2012 compared to 2011. Brooklyn prices almost equaled Manhattan prices. Yet Manhattan still led with activity and guest rooms selling for an average of $ 200,000 although hotel rooms in the borough went for around $ 384,000 in 2011. Just like Manhattan, Queens saw a considerable decline in the median sale price ($ 38,000) in 2012 compared to 2011 prices ($ 75,000). Brooklyn stood out among other New York City boroughs with its rise in hotel activity.

For the most up-to-date information about the latest hotel development opportunities in the Big Apple’s hotel sector, interested buyers and sellers can contact Levi Yitzchak. Find detailed information about recent NYC hotel acquisitions and developments at http://hospitality-investments.com. Get the inside scoop about the city’s boutique and luxury developments and other hospitality brands.

About Hospitality Investments and Developments:

See previous press release

“Hotel Brands Looking to Expand in New York City? Hospitality Investments & Developments – Your TOP Team on the Ground in NYC”

http://www.prweb.com/releases/Hotel_Developers/NYC/prweb9866272.htm

Hospitality Investments & Developments handles each and every detail for investors who purchase or develop hotels in New York City and beyond. The company’s expert services include everything from hotel site selection, negotiations, approvals, and due diligence, to the architect, interior design, furniture/fixtures/equipment, permits, to food and beverages and restaurant operation, as well as legal matters. Hospitality Investments guides their clients every step of the way – from pre-purchase to grand opening.

Their experienced team has a well-earned reputation for the highest degree of professionalism, hands-on involvement, and accountability. Their senior executives deliver New York City hotels with the use of an innovative turn-key project approach ensuring greater control over value and cost, schedule advantages, and streamlined project management.

The Hospitality Investments & Hotel Developments’ team is recognized for having the capability to create synergies and win-win strategies in mixed-use projects as well as managing and delivering a highly successful hotel.

To hire us for your next Hotel Development in NYC or discuss new opportunities in Manhattan for Boutique and Luxury hotel development, contact:

Levi Yitzchak

Executive Vice President, Acquisitions and Developments

info(at)hospitality-investments(dot)com

Tel. 646-651-4554

http://hospitality-investments.com

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