REAL ESTATE TECHNOLOGY

GoldOller Real Estate Brings Self-Storage to Greys Ferry

GoldOller | May 03, 2021

GoldOller Real Estate Investments reported today it has obtained the site at 3145 Grays Ferry Ave and will instantly get things started on the improvement of a 157,000 square foot, five-story environment-controlled, self-storeroom. The $20 Million undertakings will turn into a foundation for the Gray Ferry Gateway Corridor.

As indicated by Jake Hollinger, GoldOller President, "Our low effect, the structure will altogether upgrade the Grays Ferry Corridor while giving an assortment of self-stockpiling openings for people and independent company around there, Center City, and South Philadelphia. The site, only yards from 34th Street and the University Ave Bridge, Fitter Square, and Washington Ave, is straightforwardly contiguous and will be completely apparent from, the Schuylkill Expressway. Our perfect lines and imaginative point configuration will embrace the raised Schuylkill Expressway while improving the road space of Grays Ferry Ave." This will be GoldOller's s second self-stockpiling advancement, having finished an 80,000 Square foot, Cube Smart oversaw, self-storage space in the Fishtown part of Philadelphia a year ago.

GoldOller, settled in Philadelphia, is one of the country's biggest multifamily proprietor administrators, with an arrangement of more than 40,000 condo units in 18 states. As indicated by GoldOller Chairman, Richard Oller, "Our premium in self-stockpiling and other resource classes doesn't flag any takeoff from our center condo business. A year ago, GoldOller finished more than $100 Million of new condos and blended-use improvements, and $566 Million of loft acquisitions in New York, Illinois, Ohio, and S. Carolina addressing 4,660 condo units. While we keep on growing our loft impression, we are excited to investigate new spaces of chance and particularly those in our patio."

CVA Commercial Group has prompted GoldOller on the Grays Ferry project since 2019. As indicated by Vince Jolly, CVA's originator and CEO: "The area is practically at the crossing point of the Schuylkill Expressway, Center City, South Philadelphia, and University City. It is the best area for understudies, mortgage holders, leaseholders, and independent ventures, and the circumstance is letter-great. We are exceptionally eager to see an empty, opportunity zone property, become animated alive."

Spotlight

Super cute and cozy three-bedroom, two-bathroom home in desirable Littleton location! Conveniently located off C-470, this bright home has tons of light flowing in through the vaulted ceilings. Skylights and French doors off the kitchen also add to the bright, airy feel. This home features wood floors on the main level.

Spotlight

Super cute and cozy three-bedroom, two-bathroom home in desirable Littleton location! Conveniently located off C-470, this bright home has tons of light flowing in through the vaulted ceilings. Skylights and French doors off the kitchen also add to the bright, airy feel. This home features wood floors on the main level.

Related News

REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Thompson Thrift to Develop Luxury Multifamily Community Outside Colorado Springs

Thompson Thrift | November 29, 2022

Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced today the development of Alta25, a 264-unit Class A multifamily community in the Colorado Springs suburb of Monument. Thompson Thrift plans to welcome new residents starting in 2025. "There is strong demand for luxury multifamily communities in this area, We expect that Alta25 will provide an appealing rental option for residents desiring the style, luxury and convenience that Thompson Thrift communities feature." -Josh Purvis, managing partner for Thompson Thrift Residential Located at 16218 Jackson Creek Pkwy, Alta25 will offer eight, three-story garden style buildings and 96 detached garages. The one-, two- and three-bedroom apartment homes will average 987 square feet with luxury finishes including gourmet bar-kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options. Luxury living will continue throughout the community with amenities such as a professionally decorated clubhouse, resort-style swimming pool, 24-hour fitness center, Amazon Package Hub, bike storage and workshop, thoughtfully designed courtyards, grilling stations, outdoor game area, an electronic firepit with seating area, a dog park, pet spa with grooming station, and more. The site is adjacent to Monument Marketplace, which is home to over 658,000 square feet of retail and restaurants, and sits within The Village at Jackson Creek, a mixed-use project currently in development. Historic downtown Monument, less than three miles north, offers small-town charm filled with unique and locally owned boutiques, restaurants, galleries and spas. Nearby Interstate 25 is currently being widened to six lanes, which will improve traffic flow from Colorado Springs to Denver, and further improve access to several major employers including Fort Carson, UCHealth Memorial Hospital North and Schriever Space Force Base. Monument offers the ideal Colorado setting with views of Pikes Peak to the southwest, the Rocky Mountains to the west. Additionally, residents will enjoy an abundance of outdoor recreation, and highly rated public schools, both of which contributed to Monument being ranked as one of the best places to raise a family in Colorado. During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities. About Thompson Thrift Real Estate Company Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve.

Read More

REAL ESTATE INVESTMENT, REAL ESTATE ADVICE

Jamestown and Simon® Announce Strategic Partnership

Jamestown | October 12, 2022

Jamestown, a global real estate investment and management firm with a 39-year track record and over $13 billion in assets under management as of June 30, 2022, and Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, today announced a strategic partnership, currently anticipated to close prior to the end of 2022, subject to regulatory approvals and other customary closing conditions. Upon closing, Simon will acquire a 50 percent interest in Jamestown from founding partners Christoph and Ute Kahl, who will continue to be Jamestown shareholders. Jamestown will operate independently and continue to be led by CEO Matt Bronfman and President Michael Phillips, who will retain their existing ownership. Christoph will transition from day-to-day involvement as the company's Chairman to a member of the new Jamestown Board of Directors. The partnership will unlock new value creation opportunities and create a platform for future growth in the investment management sector. With Simon, Jamestown will gain a partner with a deep platform of resources and operational tools that will enhance the firm's ability to scale and grow. With Jamestown, Simon will gain an opportunity to capitalize on the growing asset and investment management businesses with an experienced fund manager and mixed-use operator and developer, utilizing the Jamestown platform to accelerate Simon's future densification projects. "At Jamestown, our goal is to be the best mixed-use investor globally, focusing on creating innovation hubs and community centers, The partnership with Simon will help us achieve that goal and position us for our next chapter as we scale our differentiated products in an increasingly global world." -Michael Phillips, President of Jamestown We have been impressed with Jamestown's combination of sector expertise, dedication to driving creative placemaking, and reputation in the fund management business, Their strong leadership team and track record align with our focus on investing in best-in-class partners. Jamestown is well-positioned for future growth, and we are excited about the continued expansion of Simon's investment platform, said David Simon, Chairman, CEO, and President of Simon. For nearly four decades, Jamestown has strategically managed its portfolio, employing technology, innovation, and design-focused placemaking to create value for investors, This partnership will position Jamestown's long-standing management team to continue the firm's success story,said Matt Bronfman, CEO of Jamestown. About Jamestown Jamestown is a global, design-focused real estate investment and management firm with a 39-year track record and mission to create places that inspire. Since its founding in 1983, Jamestown has executed transactions totaling $40 billion. As of June 30, 2022, Jamestown has assets under management of $13.1 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. Current and previous projects include One Times Square and Chelsea Market in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, the Innovation and Design Buildings in Boston and Lisbon, and Groot Handelsgebouw in Rotterdam. About Simon Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Read More

REAL ESTATE INVESTMENT

Kimco Realty® Expands Presence in New York Market with Acquisition of Long Island Open-Air Grocery Anchored Portfolio

Kimco Realty | November 14, 2022

Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, and a growing portfolio of mixed-use assets, today announced it acquired a private, multi-generationally-owned portfolio of eight Long Island, NY shopping centers for $375.8 million. The acquisition was funded by the issuance of a combination of cash and redeemable units and the assumption of $88.8 million of 4.1% mortgage debt with a remaining term of approximately six years. As of September 30, 2022, the company had $123.5 million in cash and cash equivalents on its balance sheet and subsequently received approximately $301.1 million of proceeds from the sale of 11.5 million shares of its Albertsons common shares. These eight high-quality centers are located in one of the most desirable markets in the United States and within a drive time of approximately 15 minutes from Kimco’s corporate headquarters in Jericho, NY. The ultra-infill markets of Long Island are high barrier to entry and offer a highly captive consumer base boasting some of the best demographic profiles in the country. The portfolio, which boasts a three-mile estimated population and average household income of 95,000 and $187,000, respectively, is 94.4% leased with significant mark-to-market and merchandising enhancement opportunities. The portfolio, which includes The Gardens at Great Neck, Woodbury Common, The Market Place, Stop & Shop Shopping Center, Southgate Shopping Center, Green Cove Plaza and Syosset Corners in Nassau County, and Sequams Shopping Center in Suffolk County, features five grocery anchored centers and a strong collection of necessity-based tenants and retailers offering everyday goods and services. Tenants include TJMaxx, GoHealth Urgent Care, Rite Aid, Starbucks, Dunkin’ Donuts, and Chipotle. “This acquisition was a rare chance to expand our presence in one of Kimco’s most highly desired markets, with a portfolio of irreplaceable real estate located in one of the most heavily trafficked, densely populated, suburbs that offers high barriers to entry and affluent communities, The strength of our balance sheet, ample liquidity and ability to provide a tax efficient transaction for the seller put us in a prime position to be opportunistic when this multi-generational portfolio emerged. The acquisition also brings us closer to our target of 85% of the company’s annual base rent coming from grocery anchored centers.” -Conor Flynn, Kimco’s Chief Executive Officer At the end of September 2022, Kimco Realty owned 28 centers totaling 3.0 million square feet with an average occupancy rate of 97.8% in the dominant Long Island market. The addition of this eight-property portfolio, which comprises 540,000 square feet of retail space, will further Kimco’s position as one of Long Island’s largest owners of grocery-anchored shopping centers with 36 assets totaling over 3.5 million square feet. About Kimco Realty® Kimco Realty® (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of September 30, 2022, the company owned interests in 526 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space.

Read More