Thursday, March 17, 2011
Colliers International Completes the Investment Sale of the 66,800-square-foot Multi-Tenant Building for $4.15 Million in Fontana, CA
FONTANA, CA. – Colliers International, the second largest global real estate services organization, recently completed the investment sale of the 66,800-square-foot multi-tenant project located at 7888 & 7898 Cherry Ave. Fontana, Calif. to a Orange County-based investor, Heritage Business Center Investment Group, LLC.
The transaction is valued at $4.15 million.
Rick Nunez (top right photo), senior associate based in Colliers International’s Inland Empire office and Whit Gifillan, associate also based in Colliers’ Inland Empire office, represented the seller, a Nevada-based developer, Shankle-Law, LLC. The buyer was represented by Windsor Investments.
“Besides its strategic location, one of the greatest advantages of this property is its commercial zoning which allows for a wide range of uses, including commercial activities such as wholesale / retail, distribution and even medical and administrative office uses, “ said Nunez.
Built in 2009 and comprised of 18 condo units, the business park was 50% leased at the time of the sale.
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Both projects were originally planned to come to market earlier but experienced delays due to the South Florida housing crash.
In late January, the Boulan South Beach (top left photo) - originally dubbed the Parc Place South Beach Residences - located on Collins Avenue initiated its sales efforts with asking prices starting at $351 per square foot but averaging $790 per square foot, according to an analysis by the licensed Florida buyer brokerage Condo Vultures® Realty LLC.
Earlier this week on March 14, the Artecity (middle right photo) complex - which is nearly complete - formally kicked off its sales campaign with opening asking prices of $346 per square foot but averaging $430 per square foot, according to information provided by the licensed Florida brokerage CVR Realty™.
"South Beach is one of the most sought-after addresses for buyers looking to purchase new condos in South Florida today," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.
"At the right price, both of these developers are positioned to tap into the deep pool of all-cash buyers circling the market right now. The competition may keep both developers in check in terms of price increases going forward."
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at firstname.lastname@example.org.
ALTAMONTE SPRINGS, FL – Mercantile Capital Corporation, which ranks as one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, closed a commercial loan for XL Soccer World Orlando, LLC recently for $3,203,100 in total project costs.
XL Soccer World Orlando will provide the premier indoor soccer facility in the Central Florida area. The facility will be the only fully air conditioned multi-field indoor soccer facility in Central Florida and will be a fun, pleasant environment to play and watch soccer. XL will be offering indoor leagues to players of all ages and abilities.
“We are delighted to be finally breaking ground on this fantastic project, and everyone involved so far has been great to work with and very enthusiastic,” said owner Ciaran McArdle (top right photo).
“It certainly helps when your lenders are huge soccer fans like Mercantile. This allowed them to understand the project in fine detail and pulled together a very motivated team so we could get this through to the finish line.
“ Most of the staff are either players themselves or have children who will be playing in the facility, so I think we had our first customers lined up before the ink was dry!”
The SmartChoice Commercial Loan Program helps owners of small to mid-sized businesses, like XL Soccer World Orlando, LLC, have an opportunity to create wealth and financial freedom, said Chris Hurn, chief executive officer of Mercantile Capital Corporation.
“Mercantile Capital Corporation’s specialization in SmartChoice Commercial Loans, also known as SBA 504 loans, allows borrowers like McArdle to own their commercial property with the highest cash-on-cash return financing available, without tying up their precious capital, so they can grow even faster,” Hurn explained.
For more information, visit http://www.thesmartchoiceloan.com/
Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040 email@example.com
Ciaran McArdle, XL Soccer World Orlando, 407-641-4791
Larry Vershel or Beth Payan Larry Vershel Communications 407-644-4142 Lvershelco@aol.com
Brad Nathanson Named One of Marcus & Millichap’s Top Investment Specialists Nationwide
ENCINO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2010. Brad Nathanson (top right photo) of the firm’s Philadelphia office ranked No. 9 out of more than 1,200 investment specialists nationwide.
Nathanson is also the firm’s top multi-tenant retail investment specialist.
“We are proud to recognize Brad Nathanson as one of the firm’s top agents and as the firm’s No.1 multi-tenant retail investment specialist,” says John J. Kerin (middle left photo), president and chief executive officer of Marcus & Millichap. “Brad’s accomplishments reflect his superior transaction expertise and unwavering commitment to client service.”
Nathanson, a vice president investments, specializes in the sale of retail investment real estate. He joined Marcus & Millichap in September 2003 and was promoted to senior associate in September 2006.
In January 2008, he was promoted to associate vice president investments and in July 2009 achieved vice president investments status. Nathanson also serves as a senior director of the firm’s National Retail Group.
Nathanson facilitated transactions valued at more than $161 million last year.
Michael A. Mele Named Marcus & Millichap’s top Self-Storage Properties Investment Specialist
ENCINO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Michael A. Mele (middle right photo) of the firm’s Tampa office as the top self-storage agent nationally.
“We are proud to recognize Michael Mele as the firm’s top self-storage agent nationally,” says John J. Kerin, president and chief executive officer of Marcus & Millichap. “Michael’s attainment of this high level of achievement reflects the depth of his market knowledge, his superior transaction skills and his commitment to client service.”
Mele is a vice president investments and a senior director of the firm’s National Self-Storage Group. He joined Marcus & Millichap in May 1999.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
LONGWOOD, Fla., Mar. 17, 2011 — D & A Building Services Inc. President and founder Albert Sarabasa Jr.(top right photo) was honored with the 2011 Joseph A. Oritt Service Award presented by the Central Florida Zoo & Botanical Gardens at the zoological park’s annual meeting in Sanford, Florida.
Sarabasa joined the Central Florida Zoo’s board of directors in 2009. This is the first time Mr. Sarabasa received this award.
The Joseph A. Oritt Service Award, whose late namesake set the standard for community volunteerism and served as an inspiration toward higher levels of achievement, is awarded to an individual and individuals that exemplify Mr. Oritt’s work for the Central Florida Zoo & Botanical Gardens.
For additional information, please visit http://www.dabuildingservices.com/.
PR Contact: Elaine Ingra, (407) 384-1344 firstname.lastname@example.org