Tuesday, March 4, 2008

Gateway One Awarded St. Louis TOBY by BOMA

SANTA ANA, CA, PRNewswire/ -- Grubb & Ellis Realty Investors, LLC announces Gateway One (top photo) has been awarded the St. Louis TOBY by the Building Owners and Managers Association International.

Grubb & Ellis Realty Investors acquired Gateway One in February 2006 on behalf of tenant-in-common investors. The property is a 15-story, Class A, 409,000 square-foot, office tower located in St. Louis, Mo. Gateway One is 100 percent leased to a combination of retail and office tenants, including Peabody Holding Company as its largest tenant leasing approximately 160,000 square feet.

The property was awarded the TOBY in the 250,000 to 499,999 square feet division.Now in its 23rd year, the mission of the TOBY Awards, according to BOMA International, is to recognize excellence in building management, operational efficiency, tenant retention, emergency planning and community impact.

Locally, the competition involves a site inspection and interview by a team of judges comprised of chapter members of different professions, and includes at least one property manager or a building engineer.

"This is a prime example of the high standards we hold when acquiring properties on behalf of investors," said Kent Peters, Executive Vice President of Grubb & Ellis Realty Investors.Grubb & Ellis Realty Investors has received awards in all categories of the TOBY including local, regional and international. Gateway One will now compete for the regional TOBY in the Midwest Northern region.

About Grubb & Ellis Realty Investors

Grubb & Ellis Realty Investors, LLC is the real estate investment and asset management subsidiary of Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm. Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $5.7 billion located throughout 30 states.

One of the nation's most active buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors has completed acquisition and disposition volume totaling approximately $10 billion on behalf of program investors since its founding in 1998; more than 70 percent of this volume has been transacted since Jan. 1, 2005.

Grubb & Ellis Realty Investors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investment programs, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, non-traded public real estate investment trusts (REITs), multi-member limited liability companies (LLCs) and institutional investments.

Through the Grubb & Ellis Wealth Management program, Grubb & Ellis Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not.

About BOMA International

BOMA International was founded in 1907 as the National Association of Building Owners and Managers. The association assumed its present name in 1968 as it broadened its reach to include Canada and other affiliates around the globe.

Today, BOMA International represents 92 local associations throughout the United States and 12 affiliates in Australia, Brazil, Canada, Finland, Indonesia, Japan, Korea, Mexico, the Philippines, Russia and South Africa. BOMA's 16,500-plus members own or manage more than nine billion square feet of commercial properties in North America.

BOMA International is a primary source of information on office building development, leasing, building operating costs, energy consumption patterns, local and national building codes, legislation, occupancy statistics and technological developments.

Throughout BOMA International's 100-year history, its goal has always focused on actively and responsibly representing and promoting the interests of the commercial real estate industry through effective leadership and advocacy, through the collection, analysis and dissemination of information, and through professional development.
First Call Analyst
FCMN Contact
Source: Grubb & Ellis Realty Investors, LLC

Julia McCartney,
+1-714-667-8252, ext. 230,
Jill Swartz,
+1-714-667-8252, ext. 251,
both of Grubb & Ellis Realty Investors, LLC

EastGroup Properties Acquires Charlotte, NC Buildings for $41.9M

JACKSON, MS– EastGroup Properties (NYSE-EGP) has acquired a portfolio of properties in metropolitan Charlotte, North Carolina, for a purchase price of $41.9 million. (Downtown Charlotte photo top left)

The portfolio consists of five buildings with 669,000 square feet in four different locations and 9.9 acres of developable land. In total, the buildings are 86% leased to 14 customers and are projected to generate a 6.4% yield at current occupancy and a 7.5% stabilized cash yield at 100% occupancy.

David H. Hoster II, President and CEO, stated, "The acquisition of this portfolio is EastGroup's fourth investment in Charlotte and increases our total ownership in that market to over 1.6 million square feet. This acquisition reflects our continued pursuit of both acquisition and development opportunities in Charlotte."

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.

The Company's goal is to maximize shareholder value by being the leading provider in its markets of functional, flexible, and quality business distribution space for location sensitive customers primarily in the 5,000 to 50,000 square foot range.

The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio currently includes 24.5 million square feet with an additional 2.2 million square feet of properties under development.

David H. Hoster II,
President and Chief Executive Officer or
N. Keith McKey, Chief Financial Officer
(601) 354-3555

EastGroup Properties, Inc.
Web: http://www.eastgroup.net/.
P.O. Box 22728,
Jackson, MS 39225-2728
Telephone: 601/354-3555
Fax: 601/352-1441

Real Estate School Graduate Invests in Donald Trump's Las Vegas Condominiums

Trump University Real Estate Student Reinvests Profits Earned from First Two Property Investments in Trump International Hotel & Tower (photo top right)

NEW YORK, NY (PRWEB) March 4, 2008 -- After flipping two properties in Utah and Florida, Trump University graduate and first-time real estate investor Jason Bosch, turned his sights and money on Donald Trump's Las Vegas, Nevada property Trump International Hotel & Tower.

Realizing a combined $215,000 gain on his first two investments--a duplex in Salt Lake City, Utah and a Florida residential property--Bosch decided to invest in a piece of his role model, Donald Trump (http://www.trumpuniversity.com/), and purchased a condominium at Las Vegas' tallest residential building, Trump International Hotel & Tower.

Taking his biggest roll of the dice yet, Bosch paid $635,000 for the unit, planning to use it as a luxury hotel rental. A five-star hotel, Trump International Hotel & Tower will attract athletes, celebrities, corporate executives and others longing for luxury accommodations who will be willing to rent the condominium for short and long-term visits while in Las Vegas.

"The expected rental rates will more than cover the mortgage payment," said Bosch. "On average, rental rates for prime Las Vegas properties like the Trump International Hotel & Tower go up, not down."

Investing in hotel suites is a trend in the United States because of the great cash flows, no concerns about maintenance and reasonable cash requirements as a down payment. "Investing in Trump International Hotel & Tower also made sense because with the city's rapid growth and the increase in construction in Las Vegas, the property's value will appreciate rapidly," said Bosch.

When Bosch decided he wanted to become a real estate investor, he turned to his mentor--Donald Trump--and enrolled with Trump University. "I knew I needed to spend money to make money, but I wasn't sure where to start," said Bosch, who had never been afraid to take chances. "When I heard Mr. Trump offered the Real Estate Investor's Training (http://www.trumpuniversity.com/realestate/investment-training-program.cfm) Program to teach beginning investors, I jumped in. This is Mr. Trump we're talking about. If he says it is good, I don't question it."

Bosch worked closely with his assigned real estate coach (http://www.trumpuniversity.com/realestate/coaching.cfm) who encouraged him to check out-of-state markets for potential investments. Within a few months of beginning the program, Bosch felt confident enough to begin a serious property search, and invest in his first property in Utah.

"Jason had the spirit and risk-taking character that he needed to think and act like a real estate entrepreneur," said Josef Katz (http://www.squidoo.com/trumpuniversity), the Vice President of Marketing (https://www.trumpuniversity.com/programs/marketing/index.cfm) for Trump University. "Trump University's Real Estate Investor's Training Program gave him the skills and confidence to make wise--and profitable--investment decisions based on knowledge rather than on speculation alone."

Bosch plans to continue building his investment property portfolio as the right opportunities come along. "I have the confidence to succeed because I know I'll be able to take advantage of my Trump University training and the support system they provide me," said Bosch.

About Trump University
An exceptional perspective on building success, a hands-on approach, a world-class faculty and Ivy League quality curriculums are what make Trump University unlike any other online education Institution in the world. Since 2005, Donald Trump's online university has been teaching its thriving community of members everything from real estate investing, to marketing, entrepreneurship skills, business planning, management, wealth creation and many other subject matters that appeal to aspiring entrepreneurs and business professionals.

To learn more, visit TrumpUniversity.com (http://www.trumpuniversity.com/)
Franklin Spirko
Trump University

Orange County, FL Resort Tax Collections Back in Positive Territory

ORLANDO, FL -- County Comptroller Martha O. Haynie (photo top right) has announced that resort tax collections received by the County in February for the hotel collection month of January 2008 were $14,055,800. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that January 2008 collections were three percent higher than January 2007. “It’s nice to see resort tax collections back in positive territory. Additionally, I’m equally pleased that cumulative collections to date are six percent higher than the same period last fiscal year,” Haynie added.

For complete details, please contact Martha Haynie at 1 407 836 5690 or
Anne McAfee
Executive Secretary
Orange County Comptroller's Office
Phone: 407-836-5690
Fax: 407-836-5599
Email: Anne.McAfee@occompt.com
ATLANTA--Engler Financial Group is proud to present, The Heights at Princeton Lakes, (photo top right) a luxury Class “AA” 350-unit apartment community located off Camp Creek Parkway in Atlanta, Fulton County, Georgia.

The Heights at Princeton Lakes is being offered for sale on an unpriced basis and represents an excellent opportunity to purchase a well-located, high-quality apartment community in one of the fastest growing and most dynamic metropolitan markets in the United States. Over the last five years, the Camp Creek Parkway corridor west of Interstate-285 has undergone rapid development with a mix of upscale retail, residential, and office/industrial development.

The Heights at Princeton Lakes is located within the Princeton Lakes Village mixed-use development and is immediately adjacent to the tremendously successful Camp Creek Marketplace development which was the winner of Atlanta Business Chronicle’s 2002 Retail Deal of the Year award.
Camp Creek Marketplace is a 1.1 million square foot outdoor lifestyle center anchored by Target, Marshall’s, Lowe’s, Barnes & Noble, BJ’s Wholesale Club, Publix, Circuit City, and many others. Camp Creek Marketplace is recognized as the commercial cornerstone for South Fulton’s renaissance.

Since its development, approximately 8.5 million square feet of commercial development has been announced or constructed including Duke Realty’s five million square foot Camp Creek Business Center and the Princeton Lakes Village mixed-use development with a variety of restaurants and a 14-screen movie theater.

The above Class "AA" amenities coupled with the excellent location allowed the owner to achieve an outstanding lease-up that averaged 35 units per month. This is testament to the demand for new product in the submarket.

If you have any questions or would like to schedule a tour of The Heights at Princeton Lakes, please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting opportunity.

Greg Engler
678/992-2000, Ext. 1

Pat Jones
Senior Vice President
678/992-2000, ext. 2

Kris Mikkelsen
Senior Associate
(678) 992-2000, ext. 4

Construction Completed at Grinnell Luxury Condominiums in Inman Park Historic District

Grinnell Offers Contemporary Urban Style Spacious Condos in Walking Distance to Shops, Restaurants and Services

ATLANTA--Perennial Properties Inc., an Atlanta-based mixed-use owner and developer, today announced the completion of Grinnell luxury condominiums in Atlanta’s Inman Park Historic District. Grinnell offers 24 one-and two-bedroom floor plans with den/office ranging from 1,200 to 1,800 square feet and priced from the $300s to the high $400s.

Perennial has preserved Grinnell’s historic 1830s brick and precast stone faƧade, as well as the original Grinnell Company sign on the first floor of the building. Inside a spacious contemporary feel and functionality are created using state-of-the-art finishes. Offering condos in three-stories with a parking garage underneath, Grinnell is conveniently located near Virginia Highland, Little Five Points and Midtown.

Grinnell is part of a master-planned, mixed–used development with five adjoining buildings designed by architectural firm Lord, Aeck & Sargent. Three buildings contain The Shops at N. Highland Steel featuring 31,420 square feet of street level shops, restaurants and services and N. Highland Steel luxury apartments above the retail.

“This project presented an unprecedented opportunity to blend the past and the future using the city of Atlanta’s Inman Park Historic District overlay to create a unique environment to live, shop and play in a walk able setting,” said Tim Schrager, principal and founder of Perennial Properties.

The Grinnell Co., founded in 1830, was home to the offices of Frederick Grinnell, creator of the first automatic sprinklers. It was important to Perennial Properties to preserve the character of the building and to ensure that the project enhanced the existing neighborhood.

Designer Model/Sales Center
The designer model home is now open to visitors with immediate closings available. Interested parties can contact local sales agents Donna Robinson and Kelly Campbell of Coldwell Banker The Condo Store at 404-420-8577, or visit the model home Mondays through Saturdays from 12:00 p.m. to 5:00 p.m. and Sundays from 1:00 p.m. to 5:00 p.m. The model/sales center is located at 200 N. Highland Ave. Unit #107, Atlanta, GA 30307. For immediate information including floor plans, amenities and finishes, visit http://www.grinnellatl.com/.

The Project Team
*Perennial Properties Inc. – owner/developer
*Coldwell Banker The Condo Store – condominium sales and marketing
* The Graham & Arthur Co. – retail and restaurant leasing
* Lord, Aeck & Sargent – planning and architecture
*Fortune-Johnson Inc. – general contractor

About Perennial Properties
Founded in 1988, Perennial Properties Inc. is an Atlanta-based mixed-use commercial development firm specializing in high-end urban apartment and condominium projects with street-level retail. Perennial Properties’ existing portfolio is focused on meeting the housing needs of Atlanta’s Intown neighborhoods, including Midtown, Virginia Highland, Morningside, Piedmont Heights, Emory, Buckhead, Inman Park and the Old Fourth Ward.

For more information, please visit http://www.perennialproperties.net/.

Media Contact:
D. Elaine McEachern, APR
McEachern Communications
Public Relations * Strategic Planning * Branding
Voice: 404.355.8748
Fax: 404.355.9136
ORLANDO, FL—March 4, 2008—Doug Rozzell, (photo top left) Principal for Thomas D. Wood and Company, secured construction financing in the amount of $1,905,345 for the Social Security Administration Building in Lake City, Florida.

Rozzell financed the 18-month, interest-only construction loan through a regional banking institution at LIBOR + 250 basis points and 97% loan-to-cost. The 9,432 square-foot office building will be constructed on 2.5 acres at the southwest corner of Bascom Norris Drive and Sister’s Welcome Road, Lake City, Florida.
For further information, please contact:
Doug Rozzell
(407) 937-0470
Jessica Gurtowski
(407) 937-0470

CAP/ADID 2008 Annual Meeting, Mar. 26

ATLANTA--Tom Bell, Chairman of Central Atlanta Progress; Craig Jones, Chairman of the Atlanta Downtown Improvement District and A.J. Robinson, President of Central Atlanta Progress Cordially invite you to attend the 66th Annual Meeting.
Wednesday, March 26

*7:00 - 7:45 a.m.
* Coffee and Registration 8:00 - 9:30 a.m.
* Breakfast Meeting
*Thomas Murphy Ballroom
* Georgia World Congress Center

Please join us as we present...The Dan Sweat Award to Dr. Carl Patton, Retiring president of Georgia State University and the Turner Broadcasting Downtown Community Leadership Award to Norman Koplon, Senior Consultant, Real Estate Development, Construction and Planning of Troutman Sanders LLP.

Tickets--Central Atlanta Progress Member, $75 per person / $750 per table of ten. Non Member Tickets , $85 per person / $850 per table of ten.
For more information or to purchase tickets, visit www.atlantadowntown.com/aboutCAPadid_am2008.asp

Mike Bell, Chuck Oliver and "Hometeam" Brandon Leak of the Afternoon Saloon, Emcees Sports Radio 790 The Zone.

Gold Sponsors--The Coca-Cola Co., Development Authority of Fulton County, Turner A Time-Warner Company.

Silver Sponsors--The New ABOA A.Brown-Olmstead Associates, Air Tran, Atlanta Business Chronicle, BB&T, Cousins Properties Inc., Deloitte, Georgia Power A Southern Company, The Home Depot Foundation, Legacy Property Group, luckyfish, Novare Group, Post Properties, 90.1 FM WABE Public Radio.

Bronze Sponsors--Avyve, first step, GeorgiaPacific, Jones Day, King & Spalding, McKenna Long & Aldridge, Powell Goldstein, Reznick Group, The Schapiro Group, Silverman Construction, Program, Management, Turner, Urban RealityPartners, Yates Construction.