Saturday, August 1, 2015

Breakwater Coaching takes space at Six/Ten’s Suites on Central office project in Winter Haven, FL


Cindy Southworth
Winter Haven, FL — Breakwater Coaching has signed a new lease with Six/Ten, LLC at the commercial real estate developer’s Suites on Central.

The company relocated to downtown Winter Haven from its previous office in the Lake Wales area, and offers marriage coaching, marriage intensives and women's coaching services. The office is located at 331 W Central Ave.

"Downtown Winter Haven has warmly embraced us and our clients,” said Breakwater Coaching Co-founders Cindy and David Southworth, who have been in marriage ministry for the last 12 years. 

“It’s a great place to come for a coaching session and then go on a dinner date to one of the many fine local restaurants."

The Southworths said they moved from Lake Wales because they felt the warmth of the Winter Haven downtown area and have great relationships with several local churches.
  
For a complete copy of the company’s news release, please contact:

Michelle Friedman
Account Director
Boardroom Communications
(407) 973-8555
(561) 706-4585 Cell

(954) 370-8999
(954) 370-8892 Fax


RealtyTrac Reports Share of Seriously Underwater Foreclosure Properties Drops to New Low in Q2 2015


Daren Blomquist
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q2 2015 U.S. Home Equity & Underwater Report, which shows that as of the end of the second quarter there were 7,443,580 U.S. residential properties that were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13.3 percent of all properties with a mortgage.

“Slowing home price appreciation in 2015 has resulted in the share of seriously underwater properties plateauing at about 13 percent of all properties with a mortgage,” said Daren Blomquist, vice president at RealtyTrac.

 “However, the share of homeowners with the double-whammy of seriously underwater properties that are also in foreclosure is continuing to decrease and is now at the lowest level we’ve seen since we began tracking that metric in the first quarter of 2012.”

For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
Sr. Data PR Manager
Office: 949.502.8300 ext 139

HFF closes $47.1 million sale of 2 garden-style apartment communities in Milwaukie, OR


Miramonte Lodge, Milwaukie, OR

Ira Virden
PORTLAND, OR -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $47.1 million sale of The Bluffs and Miramonte Lodge, two garden-style apartment communities totaling 368 units in Milwaukie, Oregon.

HFF marketed the properties on behalf of Holland Partner Group and its capital partner.  Starwood Capital Group purchased the assets free and clear of existing debt.

The Bluffs is a four-building, 137-unit property totaling 100,837 rentable square feet with studio, one-, two- and three-bedroom units. 

The property is situated on 6.68 acres at 12601 SE River Road along the Willamette River and approximately seven miles south of downtown Portland.  Community amenities include an outdoor pool, sauna, barbecue area, fitness center, community room and resident library. 

Kerry Hughes
Miramonte Lodge has 231 units totaling 164,144 rentable square feet consisting of studio, one- and two-bedroom floor plans.  

The 17.46-acre, 23-building property is located at 12200 SE McLoughlin Boulevard along Kellogg Creek, approximately one half of a mile from The Bluffs. 

The new MAX Orange light rail line, due for completion in September 2015, bisects both assets along Highway 99E providing direct access into downtown Portland.  

Community amenities include an outdoor pool with sun deck, barbecue and picnic area, fitness center, clubhouse and pet park.

The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.


For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com




Marcus & Millichap Brokers $3.8 Million Sale of Acquo 124 Restaurant Site in Hallandale Beach, FL


Adam J. Tiktin
HALLANDALE BEACH, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 0.88 acres of land improved with a restaurant and mixed-use building in Hallandale Beach, Fla. The asset sold for $3,800,000.

Adam J. Tiktin, a first vice president investments in Marcus & Millichap’s Miami office, and Michael Biama, a senior associate in the firm’s Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, a private investor from Hallandale Beach, Fla.  The buyer was a limited liability company from Hollywood, Fla.

“This property is located just south of one of the busiest intersections in South Florida directly across the street from Gulfstream Park,” says Tiktin.

“Due to the high profile nature of this property, we were able to attract a purchaser interested in redeveloping the site into a 40,000-square foot office condo project. 

"At just under $100 per square foot for the land, we feel that the price we achieved pushes the boundaries of what’s possible in today’s market,” adds Biama.

Michael Biama
Located at 124 South Federal Highway, the offering encompasses four separate parcels, totaling .88 acres, and two structures, totaling 7,604 square feet. 

The first is a 5,182-square foot restaurant which sits directly on Federal Highway and has excellent visibility to both north and south bound traffic.

The second is a smaller 2,422-square foot mixed-use building situated behind the restaurant, comprised of a small office and upstairs apartment.

For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President/District Manager
Miami, FL

(786) 522-7000

Marcus & Millichap Promotes J.D. Parker to Senior Vice President


J.D. Parker
NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has promoted J.D. Parker to senior vice president, according to John J. Kerin, president and chief executive officer.

 Parker currently serves as district manager over Marcus & Millichap’s New York Tri-State area where he oversees five offices and over 250 investment professionals and staff.

            “J.D. has been with Marcus & Millichap for over a decade and has played an instrumental role in the growth of our Northeastern offices,” says Kerin. 

“His commitment to building his investment sales team to support exceptional client service makes him a tremendous resource for our clients and investment professionals both locally and throughout the nation.”

            Parker is a graduate of Pennsylvania State University. He is an active member of the Real Estate Board of New York and the International Council of Shopping Centers.

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

Marcus & Millichap Lists Warehouse in Brooklyn’s Williamsburg Neighborhood


154 Scott Avenue Warehouse,
East Williamsburg Neighborhood
Brooklyn, NY
BROOKLYN, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announces the listing of a warehouse facility located at 154 Scott Avenue in the East Williamsburg section of Brooklyn. 

The property is located between Scholes and Randolph Streets.

            The listing agents are Jakub Nowak and Jim McGuckin, both of the firm’s Brooklyn office.

            “This turnkey warehouse building is ripe for conversion, and offers investors and developers the unique opportunity to purchase a sizable and completely unencumbered commercial asset,” says Nowak.

Jakub Nowak
The five-story industrial building is currently owner occupied and being used for light manufacturing, warehousing and distribution. 

The subject property will be delivered vacant and features 99,940 square feet of rentable space. The building stands on a M3-1 zoned, 21,048 square foot lot.

“Investors and owner-users will be able to capitalize on rising commercial and office rents in this part of East Williamsburg by repositioning the asset and taking advantage of a growing supply and demand disparity in the local commercial market,” says McGuckin.

154 Scott Avenue features 14-foot ceilings, multiple loading docks, two freight elevators and heavy power throughout. Its location allows for easy access to the Jefferson Street "L" train and to I-278 (BQE).

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

$11.3 Million Hampton Inn & Suites Closes in Duncan, SC


Duncan Inn & Suites, 108 Spartangreen Boulevard, Duncan, SC


David Greenberg
DUNCAN, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce the sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg located at 108 Spartangreen Boulevard. The sales price was $11,325,000 which equates to $85,150 per unit.

            The listing agents were David Greenberg, vice president investments, and Robert Hunter, senior associate, both of the firm’s Fort Lauderdale office. Greenberg and Hunter also secured the buyer. Raj Ravi is Marcus & Millichap's broker of record in South Carolina.

            “Greenville-Spartanburg, South Carolina is a high-barrier-to-entry but growing market and the Hampton Inn offers an opportunity for maximized revenues,” says Greenberg.

The property is a five-story, limited service hotel with 38 oversized suites and high visibility to commuters along Interstate 85. It is located about four miles from the newly constructed Tyger River Park, a $17 million sports complex that has hosted as many as 7,000 out-of-town visitors per event, and about five miles from the only BMW manufacturing plant in the United States. 

Robert S. Hunter
Spartanburg is also home to the world headquarters of Denny's restaurant chain.

             “The hotel is located roughly 10 miles from Downtown Spartanburg and approximately 15 miles from Downtown Greenville,” says Hunter.  “Local legislators have done an excellent job incentivizing foreign investment in Upstate South Carolina.”

With an industry-leading hospitality team in more than 40 markets nationally, this marks the 97th hotel sold by the National Hospitality Group in 2015.

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

Friday, July 31, 2015

National Retail Properties Inc. Announces Second Quarter 2015 Operating Results and Increased 2015 Guidance


Craig Macnab
Orlando, FL – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, announced its operating results for the quarter and six months ended June 30, 2015.

Craig Macnab, Chief Executive Officer, commented: "With our recently announced dividend increase, 2015 will be the 26th consecutive year of annual dividend increases which is a long-term record that all of us at NNN are working to perpetuate.

“ Our team continues to source attractive retail properties for acquisition at excellent initial cash yields that will help us accomplish our objective."





For a complete copy of the company’s news release, please contact:

Kevin B. Habicht
Chief Financial Officer

(407) 265-7348 

Thursday, July 30, 2015

HFF closes sale of three-building corporate headquarters campus in San Diego, CA


Campus at Copley, 5751, 5761 and 5771 Copley Drive,  San Diego, CA


 
Nick Psyllos
SAN DIEGO, CA, July 30, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Campus at Copley, a three-building, 101,571-square-foot corporate headquarters office campus in San Diego, California.

HFF marketed the asset on behalf of the seller, HighBrook Investment Management, LP.  The property was purchased by The Gildred Companies.

Campus at Copley is situated on nearly seven acres at 5751, 5761 and 5771 Copley Drive between Interstate 805 and Route 52 in the Kearny Mesa submarket of San Diego.

 This location offers substantial power infrastructure and excellent fiber connectivity with multiple fiber optic options for a telco facility, a building use making up approximately one-third of the rent roll. 

The property is 96 percent leased to four tenants including XO Communications, EdgeConneX, Reva Medical and Kleinfelder with a weighted average remaining lease term of more than six years. 

The HFF investment sales team representing the seller was led by senior managing director Nick Psyllos and director Nick Frasco. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF arranges sale of Class A industrial center in suburban Washington, DC


Springfield Newington Industrial Center, Lorton, VA

Bruce Strasburg
WASHINGTON, DC, July 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of Springfield Newington Industrial Center, a 106,945-square-foot, 100-percent-leased, newly-renovated, Class A industrial warehouse center in the Washington, D.C. suburb of Lorton, Virginia. 

HFF marketed the property on behalf of the seller, Bristol Capital Corporation.  Stockbridge Capital Group, LLC purchased the asset.   

Situated on 6.02 acres at 8424-8444 Terminal Road, Springfield Newington Industrial Center offers direct proximity to Interstate 95, which is less than one mile away, and to Fort Belvoir, which is less than four miles away. 

Michael Stuart
The one-story building features 24’ to 26’ clear heights, cross-dock loading, I-95 visibility and privatized outdoor storage capability.  The property is 100 percent leased to three investment grade tenants including the General Services Administration and Associated Materials.

 In 2015, the property underwent an extensive exterior restoration that included a new building fa├žade and roof.

The HFF investment sales team representing the seller was led by senior managing director Bruce Strasburg and associate director Michael Stuart.

“Springfield Newington Industrial Center is a rare opportunity to acquire an institutional quality, Northern Virginia warehouse facility that is fully leased to an investment grade tenant roster,” Stuart said.  

“The property is one of the most attractive and efficient industrial options in the I-95 Corridor and is poised to benefit from future growth in the greater Fort Belvoir area.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com