Latest news with #Marcus&Millichap
Yahoo
2 days ago
- Business
- Yahoo
HILCO REAL ESTATE SALES ANNOUNCES OCEANFRONT HOTEL INVESTMENT OFFERING AVAILABLE FOR SALE IN NEWPORT, OREGON
NORTHBROOK, Ill., June 2, 2025 /PRNewswire/ -- Hilco Real Estate Sales, in cooperation with Marcus & Millichap, announce July 17, 2025, as the offer deadline for the Shilo Inns Newport Oceanfront, a 179-room, full-service hotel located at 536 SW Elizabeth Street in Newport, Oregon. Positioned directly on the Pacific Ocean, this fee simple offering represents a compelling opportunity for experienced hospitality investors, operators or redevelopers to acquire a large-scale coastal property in one of Oregon's most desirable tourism markets. The hotel spans 2.48± acres across five buildings and offers 900 feet of exclusive beachfront access. Built in 1966, the property features 179 spacious guest rooms with both interior and exterior corridors, along with over 5,000± SF of meeting space, a 3,450± SF full-service restaurant and lounge with panoramic ocean views, a 1,178± SF café and two indoor pools. Zoned C2, the property is strategically located near key demand drivers including Nye Beach, the Oregon Coast Aquarium and the Hatfield Marine Science Center, all accessible via U.S. Route 101. Newport is a year-round tourist destination known for its scenic beauty, historic bayfront, active marine industry and outdoor recreation. The city draws consistent drive-to traffic from Portland and Eugene and benefits from a moderate hotel supply with limited new development. These favorable market dynamics, combined with the Shilo Inn's prime location and strong existing revenue, position the property for significant value-add potential through operational enhancements, capital improvements or full-scale redevelopment. Jordan Schack, vice president at Hilco Real Estate Sales, stated, "This asset offers an exceptional opportunity to acquire a legacy hotel with tremendous upside. With its premier location and multiple revenue drivers, the Shilo Inns is well-positioned to become a dominant hospitality anchor on Oregon's Central Coast." Offers must be submitted no later than July 17, 2025, at 5:00 p.m. (PT), using the Asset Purchase Agreement (APA) available on Hilco Real Estate Sale's website. For further information, please contact Jordan Schack at (847) 504-3297, jschack@ Chris Gomes at (972) 786-2719, Christian Apt at (972) 755-5217, or David Tabata at (503) 200-2050, For information on the property, sale process and terms or to obtain access to due diligence documents, please visit or call (855) 755-2300. About Hilco Real Estate Sales Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company ( we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments. The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation. View original content to download multimedia: SOURCE Hilco Real Estate, LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
HILCO REAL ESTATE SALES ANNOUNCES OCEANFRONT HOTEL INVESTMENT OFFERING AVAILABLE FOR SALE IN NEWPORT, OREGON
NORTHBROOK, Ill., June 2, 2025 /PRNewswire/ -- Hilco Real Estate Sales, in cooperation with Marcus & Millichap, announce July 17, 2025, as the offer deadline for the Shilo Inns Newport Oceanfront, a 179-room, full-service hotel located at 536 SW Elizabeth Street in Newport, Oregon. Positioned directly on the Pacific Ocean, this fee simple offering represents a compelling opportunity for experienced hospitality investors, operators or redevelopers to acquire a large-scale coastal property in one of Oregon's most desirable tourism markets. The hotel spans 2.48± acres across five buildings and offers 900 feet of exclusive beachfront access. Built in 1966, the property features 179 spacious guest rooms with both interior and exterior corridors, along with over 5,000± SF of meeting space, a 3,450± SF full-service restaurant and lounge with panoramic ocean views, a 1,178± SF café and two indoor pools. Zoned C2, the property is strategically located near key demand drivers including Nye Beach, the Oregon Coast Aquarium and the Hatfield Marine Science Center, all accessible via U.S. Route 101. Newport is a year-round tourist destination known for its scenic beauty, historic bayfront, active marine industry and outdoor recreation. The city draws consistent drive-to traffic from Portland and Eugene and benefits from a moderate hotel supply with limited new development. These favorable market dynamics, combined with the Shilo Inn's prime location and strong existing revenue, position the property for significant value-add potential through operational enhancements, capital improvements or full-scale redevelopment. Jordan Schack, vice president at Hilco Real Estate Sales, stated, "This asset offers an exceptional opportunity to acquire a legacy hotel with tremendous upside. With its premier location and multiple revenue drivers, the Shilo Inns is well-positioned to become a dominant hospitality anchor on Oregon's Central Coast." Offers must be submitted no later than July 17, 2025, at 5:00 p.m. (PT), using the Asset Purchase Agreement (APA) available on Hilco Real Estate Sale's website. For further information, please contact Jordan Schack at (847) 504-3297, jschack@ Chris Gomes at (972) 786-2719, Christian Apt at (972) 755-5217, or David Tabata at (503) 200-2050, For information on the property, sale process and terms or to obtain access to due diligence documents, please visit or call (855) 755-2300. About Hilco Real Estate Sales Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company ( we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments. The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation. View original content to download multimedia: SOURCE Hilco Real Estate, LLC Sign in to access your portfolio
Business Wire
19-05-2025
- Business
- Business Wire
Institutional Property Advisors Brokers $137 Million Luxury Multifamily Asset Sale in Suburban Phoenix
CHANDLER, Ariz.--(BUSINESS WIRE)-- Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company's institutional clients, announced today the sale of Zaterra, a 392-unit multifamily property in Chandler, Arizona. The asset traded for $137.5 million, or $350,765 per unit. Institutional Property Advisors Brokers $137 Million Luxury Multifamily Asset Sale in Suburban Phoenix 'Chandler is among the highest barrier to entry submarkets in the Phoenix metro and Zaterra is one of only nine assets completed in the city since 2020,' said Steve Gebing, IPA executive managing director. 'In comparison to other post-2000 constructed assets, Zaterra has 48% lower density, providing an enduring competitive advantage that will become more pronounced as multifamily completions continue to decline.' Gebing and IPA executive managing director Cliff David represented the sellers, PB Bell and PCCP, LLC, and procured the buyer. Zaterra is near Downtown Chandler, the Price Corridor, Chandler Airpark Area, and the Ocotillo master-planned community. It's proximate to Price Corridor where residents can conveniently commute to Intel's Ocotillo campus, Northrop Grumman, Wells Fargo, ASML, and Bank of America. Shopping, dining, and entertainment are close by at mixed-use developments Overstreet, New Square, and One Chandler. Completed in 2023 on 22 acres, Zaterra is a two- and three-story, garden-style property with a low-density site plan and larger than average unit size of 1,043 square feet. The property's walk-up layouts and garages emulate condominium-style living. Community amenities include two swimming pools with sundecks, a creative suite with large conference room and individual workspaces, 24-hour fitness center, and a yoga lawn. About Institutional Property Advisors (IPA) Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit About Marcus & Millichap, Inc. (NYSE: MMI) Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit .
Los Angeles Times
18-05-2025
- Business
- Los Angeles Times
Q1 CRE Report: Southern California Faces Uncertainty Due to Trio of Challenges
Jump to data: Tariffs, high interest rates and elevated construction costs in the wake of the tragic wildfires any of these could profoundly impact the Southern California real estate market. However, the trio of factors combined has left many involved in the industry facing unprecedented challenges. Other factors such as federal leasing, which has long been one of the major pillars of office leasing activity in Southern California, could be impacted by federal government cost-cutting measures that could put existing leases under review and slow expansion or new deals. That compounds factors for office landlords who have struggled with office occupancy as companies re-evaluate workplace strategies. In areas such as Downtown Los Angeles, the office vacancy rate was above 31%, according to the most recent data from Cushman & Wakefield. In the industrial sector, a surge of imports was observed at the ports as retailers raced to bring goods into the U.S. ahead of new tariffs. Activity was supported by labor strikes at Eastern and Gulf Coast ports that temporarily prompted shippers to divert some cargo to the West Coast, subsequent to a deal that was ratified in February. Those factors, however, have been overshadowed by the prospect of a trade war, which has the potential to be the single-greatest factor that will impact the economy moving forward. The policies set by the federal government roiled capital markets and directly impacted the commercial real estate sector. The uncertainty surrounding policies led to firms such as Calabasas-based Marcus & Millichap to host a call with experts to discuss potential outcomes for real estate investors, brokers and other interested parties. 'We felt that there's a need for an update and clarity,' said Hessam Nadji, chief executive and president of Marcus & Millichap Inc., on the real estate investor update call. 'We want to compare notes on what we see in the marketplace at a time when a lot of variables are conflicting.' Nadji spoke about the recent impact of macro policy changes with Mark Zandi, chief executive of Moody's Analytics, and Jeffrey D. DeBoer, chief executive and president of the Real Estate Roundtable. Zandi stressed that uncertainty around economic policy, particularly around the global trade war, is doing damage to consumer sentiment. He stated that without a shift in policy with regard to the trade war, risks are high that the country suffers an economic downturn even though the economy fundamentally began 2025 in a good place. The Los Angeles office market reported its 11th consecutive quarter of negative net absorption, and the vacancy rate climbed to 24.5% as the office market faces headwinds from low tenant demand and re-evaluation by many companies of their long-term space needs, according to data from Cushman & Wakefield. Market-wide asking rents remained relatively stable at $3.60 per square foot per month on a full-service gross basis. Rates are highest in West Los Angeles, where the overall asking rate was $5.14 per square foot per month. The legal sector remained a leading source of leasing activity, accounting for over 383,000 square feet in new leases and renewals, including Loeb & Loeb's 139,200-square-foot lease in Century City. In industrial, vacancy has climbed to 4.9%, the highest in a decade following the 10th straight quarter of occupancy losses. Losses have been spread throughout the county with all six submarkets surpassing 3.0% and three areas above 5.5% vacancy. The availability rate, which includes marketed but not vacated, reached 6.5%, which suggests additional occupancy losses. Industrial rents spiked during the pandemic but have since fallen for six straight quarters in L.A. County. Nevertheless, those rates are still more than 50% higher, on average, compared with 2019. Industrial asking rates are projected to improve in 2026. (back to top) (back to top) The overall office vacancy rate in Orange County increased to 19.2% in Q1 2025 and has increased from about 10% over the past five years as the office market has dramatically changed. Bright spots for the office market include life science and healthcare, with leases from Tarsus Pharmaceuticals and St. Joseph Health System in the Irvine Spectrum submarket. The average asking rents for all property classes have remained stable over the past year as landlords enhance concession offerings, such as longer free rent periods and higher tenant improvement allowances. Newly developed Class A properties with top-tier amenities can reach $5.95 per square foot per month. On the industrial side, the vacancy rate ticked upward for the ninth consecutive quarter to 4.2% as net absorption was negative for the sixth consecutive quarter. The losses were widespread with declines in each of the four subregions. The rise in overall vacancy was largely driven by tenant departures and speculative developments that were completed with tenant commitments. There is more than 500,000 square feet of new construction vacant. Landlords have strong competition and may increase concessions, flexibility or offer discounted rent. An additional 2.7 million square feet were under construction, with some pre-leased. Orange County industrial sales activity surged to $573 million, up 49% compared with the year prior as investors showed a renewed interest in the market. (back to top) (back to top) The Inland Empire commercial real estate market is dominated by industrial warehouses that service the ports of Los Angeles and Long Beach. The overall vacancy rate dropped to 7.4%, the first decline since early 2022. The drop was attributed to 3.2 million square feet of net absorption, although factors indicate that long-term challenges persist. The availability rate rose due to excess supply that includes sublease listings. Sublease space accounted for 22.4% of available inventory, which rose to 10.5% as tenants consolidated footprints and made excess space available. Sublease vacancies placed downward pressure on asking rents. Sublease asking rents were $0.87 per square foot per month on a triple net basis, far lower than the $1.23 per square foot direct asking rate. The weighted average of all proper- ties put the overall asking rate at $1.18 per square foot, a decline of 10.8% year over year. Declines in asking rates are projected to moderate by year-end as the pipeline for new construction, which has been robust for more than a decade, fell to its lowest level since 2014 with 11 million square feet underway. The Inland Empire office market has the lowest vacancy rate among major Southern California markets at 8.9%, which is down slightly year over year. The market offers an affordable option over coastal cities and is attractive to health care providers and local businesses. Average asking rates declined to $2.23 per square foot per month on a full-service gross basis, which was a 0.4% decrease. (back to top) (back to top) San Diego's office vacancy rate was 13.8%, which was slightly higher than the prior year. The market had positive net absorption of 331,634 square feet, according to data from Cushman & Wakefield driven by Class A properties. ClassBand C buildings, which typically have fewer amenities and are located in less desirable areas, had negative net absorption of 149,000 square feet. Direct vacancy in many suburban submarkets has not risen enough to trigger price drops; the average asking rate was $3.44 per square foot per month. San Diego's industrial vacancy increased to 7.1% despite several large tenants, such as Master's Touch Brand, Land-Ron and Trident Maritime Systems occupying space. The county suffered its ninth consecutive quarter of occupancy losses. New leasing activity was up 29.8% quarter over quarter and 14.4% year over year. The largest sector was manufacturing at 22%, followed by transportation, warehousing and utilities. Otay Mesa had the largest share of leasing at 31%. The average asking rate held steady year over year at $1.51 per square foot per month on a triple net basis. There is more than 4 million square feet of demand from new tenants projected over the next two years. Manufacturing is a key driver, but the area's economy includes defense, technology and life sciences. (back to top) (back to top)
Business Wire
13-05-2025
- Business
- Business Wire
Institutional Property Advisors Names Head of Research and Strategy
BUSINESS WIRE)-- Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company's institutional clients, announced today that veteran commercial real estate industry research professional Dags Chen has joined the firm as head of IPA research and strategy. As part of the company's expansive research services division, Chen will focus on research publications and analytics specifically geared toward institutional investors and their strategy formation and execution, providing research, analysis, and insights on the investment outlook for the institutional marketplace. Institutional Property Advisors Names Head of Research and Strategy Share Hessam Nadji, Marcus & Millichap's president and CEO, stated: 'This strategic addition is designed to elevate our analytical and market intelligence capabilities and position IPA as a key advisor to institutions. In partnership with John Chang, the firm's chief intelligence and analytics officer, and IPA executives, Dags will leverage the knowledge and experience he has gained guiding strategy for global investment firms to serve multifamily investors and our IPA brokers and financing professionals.' Chen has built a long-term institutional research career with multi-year positions with Barings, Ares Management and Clarion Partners. A chartered financial analyst, he has nearly two decades of experience analyzing the intersection between the economy, property fundamentals, and real estate capital markets. 'I'm honored to join the research and strategy team at IPA and Marcus & Millichap, which has long valued the analytical insights real estate research delivers to investors,' said Chen. 'I look forward to providing major institutional clients with impactful analysis and insights to help guide their investment strategy.' About Institutional Property Advisors (IPA) Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offers customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit About Marcus & Millichap, Inc. (NYSE: MMI) Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit
