8-15-14

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 26 Issue 15 August 15 - 28, 2014

Miller, McFadden & Stefanski of CBRE’s multifamily team represent seller CBRE Philadelphia brokers sale of Hidden Forest apartments for $21m+ F

AIRLESS HILLS, PA — CBRE, Inc ., has brokered the sale of Hidden Forest Apartments in Fairless Hills, The seller, TGM Associates, was repre- sented by Robert Miller , John McFadden , and Matt Stefanski of CBRE’s Multi- family Division inWayne, PA. The property sold to a private investor from New York for $21,300,000, or $89,496 per unit. “This property attracted strong interest from New York investors because of its ideal location near I-95 and the Pennsylvania Turnpike in Bucks County. Investors saw strong rental upside, as the property enjoyed 98% oc- cupancy,” said Miller, execu- tive vice president with CBRE Philadelphia’s Multifamily Team. “Fully renovated more than ten years ago, the prop- erty was much younger than its 1967 construction date.” n

Multifamily Financing Spotlight 6-14A

Gebroe-Hammer Associates arranges $26m+ sale

FC-B

Hidden Forest Apartments

Barr and Bennett of Lee & Associates close mid-year with $20 million Kohl’s deal

PA’s Elite Companies

Mid Atlantic RealEstateJournal—Pennsylvania—August 16 -29, 2013—5C

rnal.com

and purchase of a 88,408 s / f Koh l ’ s , l o c a t e d a t 501 Technol- ogy Center in Stoughton. W i t h 1 1 y e a r s r e - maining on the double- n e t ( N N ) l e a s e , t h e property sold at a 6.22% cap rate. “ T h i s i s a rare ne t leased asset

STOUGHTON, MA — Ryan Barr and Ryan Ben- nett , principals of Lee & Associates – North San Diego County and founders of Barr & Bennett Net Leased Investment Group , hit the mid-year mark in stride as the pair negotiated an all cash, $20 million sale

5-13C

Ryan Barr

Company Name: NAI Summit

Company Name: BartonPartners

ArchitectsPlanners, Inc. Type of Firm & Overview of Company: BartonPartners is a multi-disciplinary

Typeof Firm&Overviewof Company: Full ServiceCommercial/IndustrialRealEstate

irm; Founded in1982,NAISummitwasbuilt on theprincipals f combining thebest realestatepracticeswith in-depthmarket nowledge to comprehensively meet client business goals. We onsistentlymaintain thehighestvolumeof commercial transac- ionsbyutilizinganextensivenetworkof professionalaffiliations. ore thananyother realestate firm,NAISummitknowsEastern ennsylvania, its properties, people and market. issionStatement: NAISummit,upon its inception,established he philosophy of being a relationship-oriented firm. This ap- roach differs significantly from the transaction-oriented phi- osophy of most real estate firms in the industry. NAI Summit’s irst and foremost responsibility is to the clients we represent n the many facets of commercial real estate. This philosophy equiresNAISummit toperform in theprofessionaland respon- ible fashion clients expect and know they will experience only ith NAI Summit. ervices and or Products offered: Sales & Leasing, Investment ales,Property&AssetManagement,CorporateServices,Facili- ies Management, Building Services hat is your Vision and Strategy in the next year: NAI Summit as establisheda strongplatformwhichwill enableus to recruit dditional agents and further p netrate our market. hat projects are you currently involved in currently: Butz orporation, PPL Plaza (leasing and management), Integrated ealth Campus (leasing and management) and an investment ale of 180,920 sf at 3700 Glover Road eadquarters: Allentown, PA dditional locations: Hazleton, PA o. of employees: 50 employees

design firm comprisedof architects,urbandesigners (siteplan- ners), landscapearchitectsand interiordesigners.Our integrated designapproachmaximizes thequalityandefficiencyof ourproj- ects. With 40+ professionals located in suburban Philadelphia, BartonPartnershasofferedprofessionaldesign services forover twenty years throughout the eastern half of the United States. The disposition of our clients is indicative of our success, with over 80% of our projects coming through repeat work.

Directory DelMarVa.................................................................3-4A Financial Digest......................................................5-16A Pennsylvania.................................................... Section C New Jersey....................................................... Section B Central New Jersey.................................................5-12B Mission Statement: The hallmark of BartonPartners’ practice is an integrated, multi-disciplinary design approach. Our archi- tects,urbandesigners, landscapearchitectsand interiordesign- ers collaborate throughout the design process. This enables us to maximize the quality and efficiency of our projects, which are delivered on time and on budget. Our mission is to create sustainable, dynamic and marketable places that achieve our client’s goals. Headquarters: Norristown, PA No. of employees: 40+ employees ServicesandorProductsoffered: UrbanDesign/LandPlanning, Architecture, Landscape Architecture, Interior Design What projects are you currently involved in currently: Some of BartonPartners current projects include: SOKO Lofts, SterlingApartments,ParkTownePlaceandOxfordMills inPhila- delphia,PA;MadisonNewBritain inChalfont,PA;134Plymouth Road in Plymouth Meeting, PA; One Ardmore Place in Ardmore, PA; Gregory School Apartments in Long Branch, NJ; Windsor Station in Windsor, CT; Flanagan’s Landing in Glastonbury, CT; Mallory Ridge in Bloomfield, CT; and Pearl Street Properties in Hartford, CT.

41 Martha Drive rendering

Ryan Bennett

that was for sale in the North East,” said Barr. “This was an ideal transaction. The buyer, who was secured from the Barr & Bennett Net Leased Investment Group’s proprietary database, paid in all cash and closed escrow in 35 days.” According to Bennett, the buyer, RK Funding, LLC ,

501 Technology Center

plans a long term hold on the property. “It was a perfect fit for them” Bennett said, adding that location and the credit of the tenant were big factors.” Barr said “ the sel ler , StoughtonMarketplace DST,

sold the property because of optimal market conditions for an asset like this with term remaining.” With this transaction, Barr and Bennett have negotiated more than $62 million in clos- ings since January 2014. n

www.marejournal.com • Millions of square feet completed since 1995 • Diverse • Experienced • TotalAccountability • Fleet of equipment and in-house maintenance - reduces and prevents project downtime Upcoming Spotlights August 29, 2014 Commercial Real Estate Law M ETal B UilDing s pECialisTs www.ROSEMTL.com

Before Extensive experience with all major metal building brands... After

Re-Roof

Made with FlippingBook - Online magazine maker