Wednesday, May 4, 2016

eVestment Engages Cooper Carry to Reimagine Its Workspace at Perimeter Center in Atlanta, GA

   
Kim Rousseau
ATLANTA, GA –Atlanta-based design firm Cooper Carry is creating a new work environment for eVestment, the global leader in institutional investor data and analytics.

In Summer 2016, the software company is moving its corporate headquarters from Marietta, Georgia to 100 Glenridge Point Parkway at Perimeter Center in Atlanta.

“As a forward-thinking tech company, eVestment sought a collaborative design that would accommodate dynamic growth quickly, support its fast paced business, and provide employee comfort and life balance,” said Kim Rousseau, principal of Cooper Carry’s interior design studio.

“We decided to create a loft office environment with a dynamic stair connecting workers on different floors; standardize a singular workstation size; provide key amenities, such as a robust fitness center and a large gathering break area connected to an exterior deck via garage doors; and lots of natural light. It’s a creative evolution of the start up garage.”

Cooper Carry’s workspace design transforms this traditional suburban office building into a tech-style village adding enhanced outdoor gathering spaces and additional green space. Inside there is an industrial chic sophistication with communal seating including plywood picnic tables, bar-style stools, open work stations and even graffiti walls.


Heath Wilson

“Since beginning this project, we have been mindful of infusing this workspace with functional features that promote open dialogue and innovation while creating an inspirational place where the employees feel like they are part of something great,” added Rousseau.

 “We believe this design creates a dynamic environment that represents eVestment, and ultimately, will prove to be an extremely efficient and enjoyable use of space.”

eVestment’s new headquarters includes more than 75,000 square feet, encompassing three complete floors and two partial floors of the five story building. As eVestment grows, it has additional expansion opportunities within the building and office park.

Founded in 2000, eVestment has experienced significant growth over the past eight years, doubling its revenue and employee headcount nearly every two years. Since 2014, the company has hired about 200 new employees worldwide. In Atlanta, the company now employs about 230 people, with a total global workforce of about 350 individuals.

 “The design Cooper Carry created met our goals of an efficient, collaborative and fun workplace setting,” said eVestment co-founder Heath Wilson. “We wanted to create an environment that would support our growth, help us attract and retain top talent and be conducive to creating innovative solutions that meet our clients’ needs.”

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

Liana Moran
The Wilbert Group
404.748.1367


HFF closes $21.686 million sale of 200 Exchange Street in Malden, MA


200 Exchange Street, Malden, MA                              (Photo by Costar)        

 
Chris Phaneuf
BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $21.686 million sale of 200 Exchange Street, a 314,176-square-foot office building located in the heart of Malden, Massachusetts, immediately across from the MBTA’s Malden Center “T” station. 

HFF exclusively represented the seller, an affiliate of KBS Real Estate Investment Trust, Inc., in the transaction, and procured the buyer, Berkeley Investments, Inc.  Gramercy Property Trust, as asset manager, advised KBS on the transaction.

Originally constructed as an operations center for Bank of Boston, this four-story property features abundant floor loads, oversized windows, robust infrastructure and large, efficient floorplates. 

Berkeley Investments has engaged Stantec to devise a significant renovation program that includes improvements to the streetscape and the building’s curb appeal as well as a complete renovation of the interior spaces. 

The plan is to turn the building into a vibrant mixed-use asset with street level retail, a state-of-the art data center, and nearly 200,000 square feet of creative office space.  Street level retail will be created on two sides of the building adding to the already vibrant restaurant scene in the area and appealing to the new millennials living and working in the new downtown.

Mark Campbell
 Berkeley plans to take full advantage of the building’s irreplaceable infrastructure by turning part of the first floor and the second floor into highly sought after data center space.  

Due to its original use, the building currently has the power and redundancies necessary for data center tenants that are cost prohibitive to install on a speculative basis. 

 In the remainder of the building, Berkeley will create vibrant office space that appeals to forward-thinking creative tenants that are price-sensitive but crave the amenities and transportation package of an urban location. 

Berkeley intends to turn outdated office space on the upper floors into creative and efficient space by adding sky lights, an atrium, new systems, and incorporating sought after building amenities like a fitness center, shared conference room, bike storage, and updated lobby.

Ben Sayles
Located in Malden Center, 200 Exchange Street is easily accessible via public transportation or the Interstate Highway system.  The property is situated directly across the street from the Malden Center T stop, offering Orange Line and Commuter Rail service to and from downtown Boston in less than 12 minutes.

  The station is also a focal point of the MBTA’s bus system north of Boston and will also serve as the terminus of the future Wynn Casino shuttle service.  The property is positioned alongside Route 60, which provides direct access to Interstate 93 and Route 1, offering multiple convenient commuting routes to Boston and the North Shore. 

The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict, managing director Chris Phaneuf and directors Ben Sayles and Mark Campbell.

“Malden Center is currently undergoing a dramatic transformation as a downtown redevelopment is underway that will reconnect streets, relocate City Hall, and introduce hundreds of new residential units along with numerous new retail destinations,” said Sayles.

 “With a lower price point than other close-in suburbs and with immediate T access, Malden is emerging as a new residential and commercial hub for the region and 200 Exchange Street is well positioned to both contribute to and benefit from this transformation.”

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

Kristen M. Murphy
Director, Marketing
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 closes $29.3 million sale of and arranges $19.9 million financing for Fort Lauderdale-area retail center


Jacaranda Plaza Retail Center, 8349 West Sunrise Boulevard, Plantation, FL


 
Daniel Finkle
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $29.3 million sale of and secured $19.9 million in acquisition financing  for Jacaranda Plaza, a 173,044-square-foot, Publix-anchored retail center on 16.20 acres at 8249 West Sunrise Boulevard in the Fort Lauderdale-area community of Plantation, Florida.

HFF marketed the property on behalf of the seller, Ram Realty Services (Ram).  Epic Real Estate Partners purchased the asset.  Additionally, working on behalf of the new owner, HFF placed the five-year, fixed-rate loan with BankUnited.

Originally developed in 1974, Ram acquired interest in Jacaranda Plaza in October 2011 on behalf of Ram Realty Partners III through the purchase of a promissory note. 

Ram took title to the property in early 2012 through foreclosure and completed significant improvements to Jacaranda Plaza in 2013, including façade enhancements, fresh landscaping and roof replacement.

 Ram also added Planet Fitness and Dollar Tree to an already-strong tenant mix, including anchors Publix, Stein Mart and a diverse mix of shop tenants such as Regions Bank, T-Mobile, GNC and Gamestop.  The shopping center was 86-percent occupied at the time of sale. 

Luis Castillo
Situated on the “going home” side of Sunrise, the center is at the signalized intersection of University Drive and Sunrise with combined traffic counts of more than 105,000 vehicles per day.

The HFF investment sales team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

The HFF debt placement team representing the new owner was led by senior managing director Paul Stasaitis and managing director Adam Herrin.

“Jacaranda Plaza is a remarkable success story,” said Ram President Jim Stine. “We were able to secure a sub-performing loan at a significant discount and implement a value-add strategy that saw major improvements to the center.

“This is the type of retail deal we continue to pursue: We want to deploy our people and our capital in a way that creates a real impact in our core, urban markets and generates positive results for our investors.”

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

Kristen M. Murphy
Director, Marketing
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 $21.7 million acquisition financing for grocery-anchored retail and office center near Philadelphia, PA


Jon Mikula
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $21.7 million in acquisition financing for Drexeline Shopping Center, a 264,417-square-foot, grocery-anchored, mixed-use retail center with office space in the Philadelphia suburb of Drexel Hill, Pennsylvania.

HFF worked on behalf of the borrower, a partnership between The Hampshire Companies and MCB Real Estate, and with the lender, Flushing Bank, to provide permanent financing.  Loan proceeds will be used for the acquisition and a secure line of credit for redevelopment and repositioning of the shopping center.

Consisting of five buildings, Drexeline Shopping Center is home to more than 40 retail and office tenants, including grocery-anchor Shop Rite, Ace Hardware, Anthony’s Restaurant, PNC Bank, Drexel Hill Pediatrics Associates and Children’s Dental Health Associates.

 The mixed-use center is situated on 18.46 acres at 4990-5100 State Road at the signalized intersection of State Road and Route 1, which has an average daily vehicle count exceeding 35,000.  Drexeline Shopping Center is located in Drexel Hill in the western part of Upper Darby Township nine miles west of Center City Philadelphia. 

Michael KLein
The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and director Michael Klein.

“Drexeline Shopping Center is situated in an infill location with great demographics,” Klein said.  “The partnership between MCB Real Estate and The Hampshire Companies has an excellent opportunity to refresh, stabilize and reposition the center for the long-term benefit of the local community.”

“Flushing Bank quickly understood the shopping center’s potential and was eager to work with both MCB and The Hampshire Companies to help fulfill their vision for the property,” Mikula added.

“Flushing Bank has been a leader in commercial real estate and multi-family lending in the New York Metropolitan area for many years,” said Ron Hartmann, Executive Vice President for Commercial Real Estate Lending at Flushing Bank.

 “We are excited to expand our lending expertise in support of larger commercial real estate transactions in similar metropolitan markets. Our customers also have the benefit of a robust complement of online banking services, including operating accounts and cash management services.”

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

Kristen M. Murphy
Director, Marketing
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

 Twitter (@hampshireco)



HFF arranges $29.6 million sale of Seattle historic office building for Mack Real Estate Group

                                                                                           
                      1411 Fourth Building, Central Business District, Downtown Seattle, WA 
                                                                                                                   (Photo by Red Studio Inc.)                                              
             
Nick Kucha
 
PORTLAND, OR  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has completed the sale of 1411 Fourth, a 123,430-square-foot, historic office building in Seattle’s central business district (CBD), on behalf of an affiliate of Mack Real Estate Group. 

Mack Real Estate focuses its Seattle activities on multifamily ownership and development through the Mack Urban unit, and commercial assets like 1411 Fourth fall outside of that core strategy.  Onni Development Capital Corporation purchased 1411 Fourth for $29.6 million.    

Originally built in 1929, 1411 Fourth features 15 stories of flexible office space in a transit-oriented, CBD location.  

The property is situated on a .29-acre site fronting 4th Avenue and Union Street with immediate access to Seattle’s 3rd Avenue public transit corridor, Interstate 5 and Highway 99.

 Additionally, 1411 Fourth has a Walk Score of 98, placing it within close proximity to Pacific Place Mall, Pike Place Market and the Washington State Convention Center in addition to numerous retail stores, hotels and restaurants.

HFF’s investment sales team representing the seller was led by senior managing director Nick Kucha and director Nick Kassab.

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

Kristen M. Murphy
Director, Marketing
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 closes sale of 227-room Hampton Inn Boston-Logan Airport


Hampton Inn Boston-Logan Airport Hotel, 230 Lee Burbank Highway/Route 1A, Revere, MA

 
Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Boston-Logan Airport, a 227-room hotel located five miles from downtown Boston in Revere, Massachusetts.

HFF marketed the hotel on behalf of the seller, Linchris Hotel Corporation. 

The Hampton Inn Boston-Logan Airport is located at 230 Lee Burbank Highway/Route 1A just three miles from Boston’s Logan International Airport and five miles from downtown Boston.

 The seven-story hotel was built in 2001 and features 672 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service, complimentary breakfast, an airline crew lounge, and dining options at the Two Doors Down Bar & Restaurant. 

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

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

Kristen M. Murphy
Director, Marketing
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 completes sale of creative office portfolio in Boston’s Seaport District for $224 million


 263 Summer Street; 332 and 374 Congress Street, Fort Point Channel Neighborhood
Seaport District, Boston, MA

33-41, 34, 38 and 44 Farnsworth Street, Fort Point Channel Neighborhood
Seaport District, Boston, MA
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $224 million sale of a seven-property portfolio totaling 408,342 square feet in the Fort Point Channel neighborhood in Boston’s Seaport District. 

Coleman Benedict
HFF exclusively represented the seller, a separate account advised by Clarion Partners, and procured the buyer, an affiliate of TIAA in this landmark transaction.


The 97-percent-leased portfolio is comprised of 263 Summer Street; 332 and 374 Congress Street; and 33-41, 34, 38 and 44 Farnsworth Street, which are located across the Fort Point Channel from Boston’s Financial District.  Originally built in the early 1900s, the properties today feature high-quality office space characterized by exposed ceilings, natural lighting and modern efficient workspaces. 

The HFF investment sales team was led by senior managing director Coleman Benedict and director Ben Sayles.

“This portfolio likely represents one of the last large-scale investment opportunities in the Fort Point Channel neighborhood with the bulk of the inventory controlled by a select number of long-term holders,” said Benedict.

 “Quite possibly the hottest submarket in the country; the Fort Point continues to draw a significant tenant base driven by its unique brick & timber office supply, the influx of thousands of residential units, as well as dozens of new popular restaurants and retailers.”

Ben Sayles
“TIAA is one of the largest stakeholders in the city of Boston with both large debt and equity holdings,” said Sam Flood, Head of Northeast Real Estate Acquisitions, TIAA Global Asset Management.

“We strongly believe in the city, its’ continued strength and the long-term viability of real estate investments here, which we are actively continuing to seek across asset and risk classes.  This portfolio allows us to diversify our current holdings and provides for creative value enhancement moving forward,”

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

Kristen M. Murphy
Director, Marketing
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



Meridian Capital Group Arranges $11 Million in Permanent Financing for a Retail Property Located in Miami, FL


 
Eric Trombly
 Boca Raton, FL – Meridian Capital Group, America’s most active debt broker, arranged $11 million in permanent financing for the refinance of a multi-tenant retail property located in Miami, FL.

The seven-year non-recourse loan, provided by a regional balance sheet lender, features a fixed-rate and flexible prepayment terms.

 This transaction was negotiated by Meridian Vice President, Eric Trombly, who is located in the Company’s Boca Raton, FL office.

Village Portico is located at 201-299 S.W. Eighth Street in Miami’s upscale Brickell neighborhood just one block west of Brickell City Centre. 

The property, anchored by CVS, McDonald’s and Subway, contains 28,700 square feet of space and is zoned with an additional 600,000 square feet of air rights.

“Because the property is zoned with air rights, Meridian leveraged its strong relationship with the lender to negotiate a non-recourse loan with a favorable prepayment penalty that provides substantial flexibility,” said Mr. Trombly.

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

Jonathan Stern
Meridian Capital Group
212/972-3600



Out With the Old: Super 8 Artwork Comes “Off the Wall” at FREE “Hotel Art” Gallery


Amy Sedaris
PARSIPPANY, N.J. (May 4, 2016)-While notable, high-end art fairs roll into New York City this weekend, today Super 8® will host the first-ever exhibit enticing gallery-goers to snatch a piece of art – for free.

Once an overlooked decoration at its hotels across North America, Super 8 is taking its art “off the wall” to make way for the brand’s contemporary redesign, which by year’s end will represent a $103 million investment by Super 8 owners and is already available at nearly 60 percent of hotels.

Actress and author Amy Sedaris will ensure a proper sendoff, as nearly 100 eclectic pieces of “not-so-super” art will be free for the taking, on a first-come, first-serve basis, at When The Art Comes Down: Works from The Super 8 Collection.

Scheduled for 7:30 p.m. at Openhouse (168 Bowery, New York, NY 10012), Super 8 is throwing a gallery event embracing the brand’s past through art while revealing its modernized and elevated guest experience.

“We know it’s not easy to love the watercolors of yore that have served as our décor for decades, but we want to ensure everyone – from art appreciators to our brand loyalists – has the chance to take home a little piece of Super 8 as we make way for the brand’s purposeful new look,” says Mike Mueller, Super 8 Brand Senior Vice President.

“With the help of Amy Sedaris, who has an enviable knack for appreciating imperfections with humor, this event gives the old Super 8 a celebratory retirement and serves as a pivotal moment in revealing the decidedly different aesthetic of Super 8 hotels.”

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

Rob Myers | Super 8 Hotels
 973.753.7086


Instagram at @super8hotels

Tuesday, May 3, 2016

Structured Development Completes Sale of 224,000-Square-Foot Blackhawk on Halsted Mixed-Use Development in Lincoln Park, IL

  
Blackhawk on Halsted, 1460 North Halsted Street, Lincoln Park Neighborhood, Chicago, IL

CHICAGO, IL (May 3, 2016) – Chicago-based Structured Development today announced it has completed the sale of Blackhawk on Halsted, the firm’s 224,000-square-foot mixed-use development at 1460 N. Halsted St. in Lincoln Park, to a foreign institutional investment fund represented locally by LaSalle Investment Management.

Completed in 2009, the fully leased retail and medical office property consists of three structures: an 82,901-square-foot building that houses the British School of Chicago, whose lease runs through 2040; an adjacent mixed-use building that includes 48,016 square feet of retail and 93,287 square feet of medical office space; and a 550-vehicle parking garage with an additional 48,016 square feet of ground-level retail.

“This property is located in the epicenter of the expanding Clybourn Corridor, where our firm has completed several projects over the last 15 years, including the NEWCITY mixed-use development across the street from Blackhawk on Halsted,” said Daniel Lukas, principal and co-founder of Structured Development.

“While we highly value the Blackhawk on Halsted property, we determined it to be in our investors’ best interest to sell this asset and redeploy the equity into new development opportunities in the neighborhood.”

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

Sara Williams, swilliams@taylorjohnson.com, 312-267-4510
Abe Tekippe, atekippe@taylorjohnson.com, 312-267-4528