Tuesday, June 10, 2008

HFF Arranges $27.3M in Financing and Joint Venture Equity for Speculative Houston Office Development

HOUSTON, TX, June 10, 2008 – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a construction loan and secured joint venture equity totaling $27.3 million for the development of West Pointe Center, a 166,367-square-foot, Class A speculative office building in Houston, Texas.

HFF managing directors John Rose and Wally Reid (top right photo) worked exclusively on behalf of the borrower, White Rock Commercial to secure the three-year, construction loan with Wachovia Bank, N.A. GE Real Estate provided joint venture equity.

Due for completion in 2009, West Point Center will be a LEED certified building with three stories of office space totaling 166,367 square feet. The property is located on a 10.8-acre site at the northeast corner of Beltway 8/Sam Houston Tollway and West Road in western Houston.

“West Point Center will be the highest quality value office product in the area and will appeal to tenants seeking large, high-quality spaces,” said Rose.

White Rock Commercial is a Dallas-based, privately-owned, full-service real estate company focused on real estate investment and development opportunities in select geographic markets and in product types that deliver strong returns to their capital partners.

John W. Rose, HFF Managing Director, 713 852 3500, jrose@hfflp.com
Wallace Reid, HFF Managing Director, 713 852 3500, wreid@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

The Goodman Co. to Host Grand Opening at Landstown Commons in Virginia Beach

VIRGINIA BEACH, VA – The Goodman Company, will host a grand opening celebration Thursday June 12 at Landstown Commons, (photos top left and middle right) the 510,000 square foot retail power center The Goodman Company has developed in Virginia Beach at Princess Anne and Dam Neck Roads.

John W. Dowd III, (top right photo) senior vice president at The Goodman Company, said retail space at Landstown Commons is 90 percent leased.

Joining Kohl’s, Ross Dress for Less, Bed Bath & Beyond, A.C. Moore, Petsmart, Office Max and Best Buy, retailers recently opened at Landstown Commons include Shoe Carnival, Deb Shops, Starbucks, Ntelos, Z Pizza, GNC, Nails Plus, Ghq Sports Salon, Firehouse Subs, The Skinny Dip, Longhorn Steakhouse, Mattress Discounters and America’s Best Contacts & Eyeglasses.

Office space consisting of approximately 38,000 square feet has recently been constructed at the center and is available for lease.

Located above The Courtyard Shops at Landstown Commons, the offices have full access to ample parking and the many shops and restaurants the retail component has to offer.

The Goodman Company recently negotiated new long-term lease agreements with six stores that will total more than 21,000 square feet of retail space at Landstown Commons, including Ulta with 9,900 square feet; Ninja Japanese Steakhouse with 3,520 square feet, T-Mobile, with 2,200 square feet, Smoked from Above Barbeque with 2,000 square feet, CitiFinancial with 1,600 square feet and Memory Lane Sports Memorabilia with 1,940 square feet.

For more information, please contact

John Dowd, Senior VP of Development, The Goodman Company, 561-833-3777 Robert Saffran, Senior VP of Leasing, The Goodman Company, 561-833-3777 Susan Ross, Senior Leasing Manager, The Goodman Company, 561-833-3777Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

GVA Announces Recapitalization

WASHINGTON, DC– GVA Advantis, a full-service real estate services company specializing in development, construction, property management and brokerage needs, has completed a recapitalization with a private equity group based in Washington, DC, and controlled by Jeffrey T. Neal (top right photo).
Neal’s firm will have controlling interest in GVA Advantis; providing equity, leadership, and strategic vision for the company.

Jeffrey T. Neal, co-founder and principal of a Washington-based real estate development company and the newly-appointed Chairman of GVA Advantis, states, “This is a great opportunity for diversifying and expanding my business and investment endeavors into a new spectrum of the real estate industry.

"With the planned growth and retooling of GVA Advantis, we will be able to offer a wide variety of real estate expertise to a broader range of clientele than my past businesses have allowed.

"Our goal in the next five years is to continue providing the highest level of services to all of our clients as well as expanding Advantis’ capabilities into contiguous markets and new product areas where my strengths can add value to the clients’ businesses.”

Neal’s private equity group is comprised of individual investors with specific real estate and other industry experience and expertise that will be instrumental to Advantis’ future. The group was assembled to assist senior management with setting the strategic direction and leadership of the company.

The most significant change will occur in the culture of delivering a full line of services. GVA Advantis will be able to take advantage of the intellectual capital within the company, as well as Neal’s and his investors’ diverse expertise, and strengthen its service and leadership to their clients.

Immediate steps will be taken to size the company for growth within the markets already served by the company, as well as other markets in the United States. In addition, the headquarters of GVA Advantis will move from Atlanta to Washington, DC.

Richard Pogue, former President of Koll Northern California and Chairman of CBRE’s Canadian operations, is the new CEO of GVA Advantis and also provides proven leadership immediately.

Pogue states, “GVA Advantis has a rich history and we will build our future on that foundation. It was first known as Goodman, Segar, Hogan, based out of Virginia, specializing in commercial brokerage services.

"Over time it grew with offices in Richmond, Atlanta, Raleigh, Jacksonville, Roanoke, Newport News, Tampa and Orlando and expanded its services to include development, construction and property management. It is this type of vision and leadership that will once again take GVA Advantis to the next level.”

Contact: Jim Roberts, 202.870.1320, jroberts@gvaadvantis.com

GVA Advantis Represents Lee S. Lasser Family Ltd. Partnership No. 2 in $2M Land Purchase

TAMPA, FL-– GVA Advantis is pleased to announce it has represented the Lee S. Lasser Family Limited Partnership, No. 2 in the purchase 11.36 acres within Madison Corporate Park of Commerce in Tampa, Hillsborough County, Florida, for $2,064,687.93.

GVA Advantis’ Mark Cooney, (top right photo) executive director of land services, represented the buyer, Lee S. Lasser Family Limited Partnership, No. 2, a Florida limited partnership based in Pompano Beach, Florida. The seller, Madison Transporters, LLC, is a Florida limited liability company based in Tampa.

Located in the east side industrial submarket, the 11.36-acre site is planned for future expansion of the existing adjacent Madison Business Park (photo at left).


Lisa Hyde, Director of Marketing, Advantis Real Estate Services Company, 3000 Bayport Drive, Suite 100, Tampa, Florida 33607. Tel 813.342.4752. Fax 813.342.4004.
E-mail Lhyde@gvaadvantis.com