Tuesday, May 13, 2008

Mercantile Commercial Capital, LLC Reports it Closed Five commercial loans in April Worth $5 million

ALTAMONTE SPRINGS, FL--- Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners, reported it closed five commercial loans in April that totaled $5 million.

“As banks tighten their commercial lending criteria, SBA 504 loans are becoming an increasingly important factor in area economic expansion,” said Christopher Hurn, president and chief executive officer of Mercantile Commercial Capital. (Hurn, left, and partner Geof Longstaff are in top right photo)

“Of all the capital market alternatives, SBA 504 is the one most focused on creating new jobs and facilitating regional economic growth,” Hurn said.

Mercantile Commercial’s April loans included:

• $256,500 to Miller & Meyer, Inc. dba Essential Elements, a holistic health care provider, to acquire a 1,700-square foot facility in St. Petersburg, Fla. with 90 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market five-year fixed interest rate;

• $195,000 to Solano, Aviles, Kozlowski, LLC, an accounting firm, to refinance its 2,115-square foot Orlando office building with 60 percent loan-to-value financing, a 25-year, fully-amortizing term and below-market five-year fixed interest rate;

• $2,103,750 to Kid’s Domain, LLC, a child care provider, to develop a 6,600 square-foot Leesburg, Va. day care center with 85 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate;

• $711,000 to LNZ, LLC dba Scrub-A-Dub and Laundry Basket, to acquire two coin-operated laundry facilities totaling almost 5,000 square feet of space in Syracuse and North Webster, ¬Ind. with 90 percent loan-to-cost financing, 25-year, fully-amortizing terms and below-market five-year fixed interest rates;

• $1,639,800 to Euro Sports, LLC dba Arthur J. Debaise, MD, PA, to acquire a 6,500 square-foot medical office building in Winter Park, Fla. with 90 percent loan-to-cost financing, a 25-year, fully-amortizing term and a below-market five-year fixed interest rate.

Three of the firm’s April loans were referred to the company by referral partners, including Miller and Meyer (ACE correspondent Pati Williams in south Tampa), Kid’s Domain (Ryan Goldacker of Legacy Lending Group, Inc.) and Euro Sports (Ersi Braun, Mercantile Commercial’s Referral Partner of the Month).

For more information please contact

Robin Lashley, Marketing Manager Mercantile Commercial Capital, LLC 407-786-5040

Chris Hurn, President / CEO Mercantile Commercial Capital, LLC 407-786-5040

Geof Longstaff, Chairman Mercantile Commercial Capital, LLC 407-786-5040

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Grubb & Ellis|Commercial Florida Negotiates Land Sale in Tampa, FL

TAMPA, FL – Grubb & EllisCommercial Florida has brokered the sale of 1.10 acres in Tampa, FL.

Jan Boltres, CCIM and Mike Scott, principals and vice presidents in the company’s Industrial Group negotiated the sale of 1.10 acres located at 5172 W. Sligh Ave. in Tampa, FL. Boltres and Scott represented the seller, MDG Investments, LLC, The site was purchased by WCP Property Holdings, LLC.

For more information, contact:
Jan Boltres, CCIM, Grubb & EllisCommercial Florida 813-830-7889, jboltres@commercialfl.com;
Mike Scott, Grubb & EllisCommercial Florida 813-830-7888, mailto:randretta@commercialfl.com
Larry Lietzman, Grubb & EllisCommercial Florida, 813-639-1111

$149.54M Construction Loan Arranged by HFF for Class AA Office Development in Denver, CO

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $149.54 million construction loan for 1800 Larimer, (photo above) a 495,998-square-foot Class AA, Platinum LEED pre-certified office development in Denver, Colorado.

HFF senior managing director Trey Morsbach (top right photo)and associate director Clint Corn worked exclusively on behalf of Westfield Development Partners to secure the 42-month, adjustable-rate loan through Wachovia Bank, N.A.

Westfield Development Partners is the development arm of Denver-based Frederick Ross Company.
The planned 22-story office tower, which is scheduled for completion in 2010, is approximately 70% pre-leased to tenants including Xcel Energy, Frederick Ross Company and Citywide Bank.

The site is situated on a half city block between 18th and 19th Streets at Larimer Street, on the edge of Denver’s Lower Downtown area. The building will feature a raised floor air distribution system, fitness center, conference room and garden terrace.

“Given the property’s strategic site and state-of-the-art amenity base, 1800 Larimer is well positioned to capitalize on a dynamic market and set new standards for office product in Denver,” said Morsbach.


Laurie Fish McDowell
HFFAssociate Director, Marketing
One Post Office Square, Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

John W. Morsbach III
HFF Senior Managing Director
(214) 265-0880

The Mele Group and the LeClaire Team of Marcus & Millichap Announce the Sale of Three U-Store-It Properties in Florida

TAMPA, FL – May 13, 2008--The Mele Group and The LeClaire Team of Marcus & Millichap announced the sale of three U∙Store∙It properties in Florida.

Located in Miami, Leesburg, and Lakeland and as part of a 21 property portfolio located in five states, these represent the first three properties to close in the state of Florida.

The properties include U-Store-It, Lakeland, FL, 47,880 nrsf on 3.0 acres (storng physical occupancy); U-Store-It, Leesburg, FL, 60,040 nrsf on 3.93 acres (great market demographics); and U-Store-It, 77th Ave, Miami, FL, 57,240 nrsf on 2.51 acres (exposure on Palmetto Expressway).

The 77th Avenue Miami location sold for $2,175,000 and the Leesburg location at $2,400,000 to the same purchaser, a private partnership based in South Florida.

The U∙Store∙It Lakeland facility, closed at $2,050,000 to a private investor out of Florida. Michael A. Mele (top right photo) of Marcus & Millichap’s Tampa office and Chico LeClaire, of Marcus & Millichap’s Denver office represented both the buyer and seller in the transactions.

Michael A. Mele
Marcus & Millichap
813 387 4700

Marcus & Millichap Brokers Sale of Single-Tenant Ground Lease in Miami for $5.75M

MIAMI, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of a five-acre single tenant ground lease in Miami, according to Gene A. Berman,(photo at left below) Managing Director in the firm’s Fort Lauderdale office.

Improved with a 45,744-square foot America’s Best Inn hotel, the property demanded a sales price of $5,750,000. Lori Schneider, (top right photo) First Vice President Investments in the Fort Lauderdale office, represented the seller, Lincoln National Life Insurance. Mark Wohl, Senior Associate in the Miami office, represented the buyer, Taha Properties, LLC.

“The investment is a great land-banking opportunity offering current income. The property also allows for significant development and is zoned to allow large scale commercial activities, retail buildings, restaurants and other uses,” says Schneider.

“The long term vision of the Buyer is part of an overall theme in today’s real estate cycle. The strategy of acquiring highly visible properties in strong in-fill locations makes this unique investment poised for a successful future development,” says Wohl. Positioned just north of the Miami International Airport (photo at right below) and east of the Palmetto Expressway (S.R. 826),(photo above) the property is located at 7330 NW 36th Street.


Ashley Steele
Marketing Coordinator
Marcus & Millichap
5900 N. Andrews Avenue, Suite 100
Fort Lauderdale, FL 33309
Direct Tel: (954) 245-3516
Cell: (215) 828-9585
Fax: (954) 245-3410

Seven-Person East Coast Retail Property Team Joins HFF

ATLANTA, GA – HFF (Holliday Fenoglio Fowler, L.P.) announced today that a team of seven capital markets professionals and analysts will join the firm.

The team members, formerly of Staubach Capital Markets, will focus on investment sales and capital markets transactions in the retail property sector, and will further enhance HFF’s already strong national retail team.

The team members will work primarily with HFF’s east coast offices of Atlanta, Boston, Hartford and Westport, Connecticut, Miami, New Jersey, New York City and Washington, D.C.

Whitney Knoll, (photo at left below) who was a senior managing director and leader of the East Coast Retail Team at Staubach, will join HFF as senior managing director in the Atlanta office. Mr. Knoll’s team was involved in more than $3.3 billion in retail property transactions. Prior to Staubach he held leadership positions at Trammell Crow Company in the Retail Capital Markets Group and was with Ben Carter Associates and CB Commercial Real Estate Group.
Mr. Knoll is a long-standing member of the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI) and Atlanta Commercial Board of Realtors.

Lynn De Marco, a 20-plus year industry veteran and senior member of the retail team, will join HFF in its New York City office as a managing director. Prior to joining the retail team in 2004 at Trammell Crow, Ms. De Marco was in the Investment Properties Division of Insignia/ESG and, post merger, CB Richard Ellis. She has also held positions with Bear Stearns’ and Smith Barney’s Commercial Mortgage Groups, Wexford Management LLC and Chase Manhattan Bank. Ms. De Marco is an active member of ICSC.
Bradley Peterson (photo at left below) will join the firm as a managing director and was a senior broker with Staubach responsible for transactions valued at close to $1 billion. Prior to Staubach, he was with Trammell Crow Company, West Deutsche Landesbank Girozentrale and Price Waterhouse LLP. Mr. Peterson will be focusing on the Southeastern part of the country and will work closely with HFF’s existing retail team in the Miami office. He is the Florida Regional Overview Coordinator for ICSC, and is involved with ULI as volunteer for ULI UrbanPlan and a member of Executive Committee ULI Atlanta. Mr. Peterson holds an MBA from Emory University.

Richard Reid, (photo at right) James Hamilton and Kevin Hurley also will join HFF in its Atlanta office. Mr. Reid will join HFF as a director, has been with the retail team for two years and prior to Staubach was with Trammell Crow Company and CS First Boston. Mr. Reid holds an MBA from the University of Florida and is an active member of ICSC and Atlanta Commercial Board of Realtors.

Mr. Hamilton also will join as a director with HFF and has been with the retail team for six years including at Staubach and Trammell Crow. He is a member of ICSC and the Association of Young Real Estate Professionals, and is actively involved in ULI as member of the Executive Committee ULI Atlanta, chair of the Membership Committee and Mentor Program, and a volunteer for ULI Urban Plan.

Mr. Hurley will join HFF in a senior real estate analyst position as an associate director. He was a real estate analyst for the team at Staubach and Trammell Crow and is a member of ICSC and ULI.

Justin Greider, will continue working as part of Mr. Peterson’s team as a senior real estate analyst and was a senior financial analyst for the retail team with Staubach and Trammell Crow. He is a member of ULI as well as involved in ICSC on several Program Committees, report author for several Florida reports and a past presenter at the ICSC West Florida General Session. Mr. Greider holds an MBA from Rollins University.

“The addition of this retail investment sales team is in keeping with our strategic growth initiatives and our Mission/Vision Statement which is to hire the people with the highest ethical standards and the best reputation in the industry to ensure we continue to provide value-added services to our clients,” said Manny de Zárraga,(top right photo) executive managing director and member of HFF’s operating committee.

“We are delighted to have one of the leading retail investment sales teams in the eastern part of the country join with our existing capital markets and investment sales team to further strengthen our already dominant retail presence throughout the Southeastern U.S.,” added Mark Sixour, (photo at left above) senior managing director and head of HFF’s Atlanta office.


Laurie Fish McDowell, HFF Associate Director, Marketing One Post Office Square, Suite 3500 Boston, MA 02109, tel 617.338.0990 fax 617.338.2150 www.hfflp.com lmcdowell@hfflp.com
Manuel A. de Zarraga, HFF Executive Managing Director, 305 448 1333, mdezarraga@hfflp.com

NAI Realvest Brokers $1.4M Sale of Orlando Retail Building

ORLANDO, Fla. – NAI Realvest has negotiated the sale of a 3,800 square foot retail building on a 0.38-acre site at 2100 South Orange Avenue in Orlando for $1,400,000.

Kevin O’Connor and Matt Cichocki, principals at NAI Realvest, represented the buyer, Pavilion TK-Orange Ave. LCC of Charlotte. The seller is Michael Crisante of Orlando.

The building will be renovated for a Tire Kingdom.

NAI Realvest has located a total of six sites for the Tire Kingdom stores in Central Florida.

For more information, please contact:
Kevin O’ Connor, NAI Realvest 407-875-9989 koconnor@realvest.com
Matt Cichocki, NAI Reavest 407-875-9989 mcichocki@realvest.com
Janice Paiano, Marketing Director NAI Realvest jpaiano@realvest.com
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

NAI Realvest Negotiates $1.275M Sales Price for Lakeland, FL Bank Building

LAKELAND, FL -- NAI Realvest has negotiated the sale of a 3,904 square foot bank building and its 0.61-acre site at 1817 Crystal Lake Rd. in Lakeland for $1,275,000.

NAI Realvest broker associate, Larry Bossarte and associate Cheryl Bossarte, represented both the seller, Wachovia Bank NA of Jacksonville and the buyer, Lakeland-based MidFlorida Federal Credit Union, who will open a new branch at the facility.

For more information, contact:
Larry Bossarte, Broker Associate, NAI Realvest lbossarte@realvest.com
Janice Paiano, Marketing Director NAI Realvest jpaiano@realvest.com
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Engler Financial Group Presents Alta Surf, an Exclusive Offering in Myrtle Beach, SC

ATLANTA, GA--Engler Financial Group is proud to present, Alta Surf, (top left photo) an upscale 216-unit apartment community located in Myrtle Beach, Horry County, South Carolina.

Myrtle Beach is one of the most popular vacation destinations in the country and is experiencing rapid economic growth.

Alta Surf is being offered for sale on an unpriced basis and represents an outstanding opportunity to purchase a newly constructed, Class “AA” apartment community in one of South Carolina's most desirable markets.

Built in 2007, Alta Surf has a beautiful clubhouse with a soaring clubroom that welcomes residents and visitors to the community, setting a tone of elegance and luxury. The clubhouse overlooks the resort-style swimming pool and spacious sundeck. Additional community amenities include 35 detached garages, 25 exterior storage units, poolside gazebo with gas grill, a car wash facility, laundry facility, and wi-fi internet in all common areas.

Please follow the link below to view the asset teaser for Alta Surf . If you have an interest in pursuing this outstanding investment opportunity, please execute an electronic Confidentiality Agreement on Peracon.

Click to view the Asset Teaser Alta Surf is located within five miles of several major new developments, including Hard Rock Park, The Market Common, and Broadway at the Beach. One of the most highly anticipated economic developments in Myrtle Beach's history was the recent opening of Hard Rock Park, a $400 million, rock and roll themed amusement park off Highway 501.

The world's first rock n' roll theme park includes more than 40 attractions, a live music amphitheater, shows, restaurants, and retail stores. The 55-acre park aims to attract up to 30,000 visitors a day during the summer months and plans to employ approximately 3,000, making it one of Horry County's largest employers.

The Market Common (photo at left above) is Myrtle Beach's newest upscale shopping destination. Located on 114- acres off Farrow Parkway,The Market Common is a $600 million mixed-use urban street front village which includes more than 40 upscale retail shops, eateries, a 14-screen movie theater, and a residential component. Broadway at the Beach is the largest festival entertainment complex in South Carolina.

The $250 million attraction set on 350-acres features three theaters, 19 restaurants, 100 specialty shops, nightclubs and restaurants. If you have any questions or would like to schedule a tour of Alta Surf , please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting opportunity.

Greg Engler, CEO/President, 678/992-2000, ext. 1 gengler@efgus.com

Pat Jones, Senior Vice President, 678/992-2000, ext. 2 pjones@efgus.com

Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4 kmikkelsen@efgus.com