Wednesday, June 18, 2008

New Marketplace Format Attracts Large Number of First-Time Hotel Buyers

High Interest Despite Large Drop in Industry First Quarter Transactions

KANSAS CITY, MO—Hotel Brokers International (HBI), the nation’s largest hotel brokerage organization with more than 30 offices from coast to coast, announces its revamped U.S. Hotel Investor’s Marketplace program, recently held at the Hyatt Regency O’Hare in Chicago, attracted a strong mix of seasoned and first-time hotel buyers.

Attendees received a broad overview of the industry, as well as information on first quarter hotel transaction activity, which was down significantly.

“We believe the change in format has uncovered a pent-up demand for hotel investment,” said H. Brandt Niehaus, (top right photo) CHB, president of HBI and Louisville-based Huff, Niehaus & Associates, Inc. “Hotels arguably are the most difficult real estate asset class to own and can be intimidating to someone outside the industry.

"By providing a solid grounding in the basics of hotel real estate, potential new investors receive both a great overview and a look at investment opportunities available today.”

The revised one-day event is comprised of a half-day of education and updates on hotel trends, financing, hotel brands and hotel real estate pricing for hotel owners, investors, hotel management company executives and acquisition specialists.

Panels of lenders, operators, franchising executives and consultants provided a combination of cutting-edge trends and outlooks along with hotel basics. The second half of the day showcased 20 hotels currently being marketed for sale, as well as in-depth information on an additional 150 hotels listed for sale.

The two newly added panel discussions on lending and franchise financing were both well received, according to Niehaus.

The lender panel was moderated by Ron McCord, (top left photo) Milmark Hotel/Motel Investments, LLC, Wisconsin, and featured Brad Black, Hospitality Lending Specialist, CIT Small Business Lending, Adam Wonus, Vice President Franchise Finance, Mercantile Commercial Capital, and Melissa Butler, Senior Business Development Officer, PMC Commercial Trust.
Sponsors of the Chicago Marketplace include CIT Small Business Lending, Carlson Hotels Worldwide, Choice Hotels International, La Quinta Inns, Inc., Mercantile Commercial Capital, LLC, and PMC Commercial Trust.

HBI also will host Marketplace events later in the year in the Baltimore/Washington, D.C. area on October 8 and in Dallas on November 5. To register, go to


Julie Tullbane, Daly Gray Public Relations,
T 703-435-6293. F 703-435-6297

Glenda Webb, Hotel Brokers International,
(816) 505-4315

Melanie Boyer, Daly gray Public Relations, 703 435 6293

Challenging Economy Shows Underlying Resilience and Flexibility

UNIONDALE, NY--During Arbor's recent finance conference, "How to Navigate the Capital Markets Storm with Agency Lending" in Dallas on June 10, Dr. Sam Chandan, (top right photo) Chief Economist for Reis, Inc. outlined a number of forces that are weighing on the economy:

The housing market; the economy; inflation (how we spend our money); value of the U.S. dollar; increase in food and fuel prices; and loss of confidence in international markets (as reflected in devalued U.S. dollar).

However, he noted the underlying resilience and flexibility of the U.S. economy remains intact in the midst of most challenging adjustments.

Other stresses on the economy Dr. Chandan pointed out are:

The housing market: The pool of houses for sale has changed significantly. There were more homes built than Americans can (afford to) live in.

Corporate profits: While they have slowed significantly as of late, they will prevail over the next 1-2 years.

Oil: Our economy is more information- and services-based rather than on manufacturing. As a result, there is reduced energy consumption.

CMBS: The CMBS market has been sidelined. At its peak, almost 70 percent of all multifamily mortgages were from CMBS. As of first quarter 2008, that number has fallen to 7 percent.

CONTACT: Arbor Solutions Editor, Arbor Commercial Mortgage LLC, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. PH 1 800 878 5160.

HFF Closes $41.1M Sale of Office/Flex Space in Chantilly, VA

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Sullyfield Commerce Center and The Earhart Building, office/flex buildings (above photo) totaling 336,107 square feet in Chantilly, Virginia.

HFF senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo) and director Andrew Pulliam led the investment sales team on behalf of the seller, WRIT – Washington Real Estate Investment Trust.

RREEF purchased the properties free and clear of debt for $41.1 million. WRIT owns and manages 90 income-producing properties in the Baltimore/Washington, D.C. area.

Sullyfield Commerce Center includes two properties totaling 243,690 square feet located at 14320 and 14370 Sullyfield Circle. The Earhart Building is a 92,417-square-foot, single-story building located at 14000 Thunderbolt Place.

Key tenants include Northrop Grumman, L3 Communications, DHL, Cort Furniture and EDS.

Located off Routes 28 and 50, the properties are close to the Washington Dulles International Airport in Chantilly, approximately 22 miles west of downtown Washington, D.C.

“The properties are ideally situated within the largest concentration of flex/office inventory in Northern Virginia and within two of the region’s pre-eminent flex/office business parks, namely Sullyfield Business Park and Dulles Business Park,” said Meisel.
James A. Meisel, HFF Senior Managing Director, 202 533 2500.
Stephen "Dek" Potts, HFF Senior Managing Director, 202 533 2500.

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990.

National Retail Properties, Inc. Upgraded by Moody's

ORLANDO, FL, June 18, 2008 /PRNewswire-FirstCall/ -- National Retail Properties, Inc. (NYSE: NNN) announced today that Moody's Investors Service upgraded the Company's senior unsecured debt rating to Baa2 from Baa3 and its preferred stock rating to Baa3 from Ba1, with a stable outlook.

Mr. Craig Macnab, (top right photo) Chief Executive Officer, noted: "We are pleased with Moody's rating action which we believe reflects our strong real estate portfolio, stable cash flow, conservative balance sheet and consistent performance.

"This upgrade is particularly gratifying considering the challenging macroeconomic environment. We anticipate 2008 will produce record FFO per share results and are on track for our nineteenth consecutive year of increased dividends."

NNN acquires, owns, invests in, manages and develops properties that are leased primarily to retail tenants under long-term net leases. As of March 31, 2008, NNN owned 931 Investment Properties, with an aggregate leasable area of 11 million square feet, located in 44 states. For more information on the Company, visit

Contact: Kevin B. Habicht, (bottom right photo) Chief Financial Officer of National Retail Properties, Inc., +1-407-265-7348

SIKON Construction Corp. Nears Completion on Two New SuperTarget Stores in South Florida

DEERFIELD BEACH, FL – Deerfield Beach-based SIKON Construction Corporation, one of the nation’s leading retail contractors, is nearing completion on two new SuperTarget stores: a 186,212-square-foot store located at Hillsboro Boulevard and Powerline Road in Deerfield Beach, and a 185,000-square-foot store at U.S. 441 and Wiles Road in Coral Springs, FL.

Both were designed by RSP Architects, Minneapolis, according to longtime Florida construction veteran Dale E. Scott, (top right photo) Senior Executive Vice President of SIKON.

SIKON Construction Corporation is a full-service general contractor and construction manager primarily to the retail industry as well as for office buildings, mixed-use and other commercial projects.

Notably, SIKON is also constructing the LEED-certified, 550,000-square-foot Promenade at Coconut Creek, and has recently completed a number of other high-profile projects including One Village Place, a 10-story, 192,202-square-foot mixed-use development in Coral Gables, FL, as well as the first LEED-certified Publix Greenwise store in Palm Beach Gardens, FL.

SIKON is headquartered at 431 Fairway Drive, Deerfield Beach, FL 33441, phone 954-354-8338. For more information, visit the company’s website at

CONTACT: Kenneth H. Cristol, President, Cristol Marketing Company, 237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA. PH 407-774-2515 FX 407-774-6647 Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications

GVA Advantis Negotiates New 11,120-SF Lease for Mad Max Inc. in Dyne Business Center, Tampa, FL

TAMPA, FL– GVA Advantis has negotiated a new 11,120 square foot lease for Mad Max, Inc. within Dyne Business Center in Tampa, Hillsborough County, Florida.

Phil Krnjeu, (top right photo) associate of industrial services for GVA Advantis’ Tampa office, exclusively represented the tenant, Mad Max, Inc., a Tampa-based distributor of exhaust system components. The landlord, Dyne Associates, was represented by Industrial Property Group, Inc.

“With vacancy hovering under five percent in the airport industrial submarket, meeting all of my client’s technical and financial needs was a challenge due to lack of available product,” states Krnjeu. “It took creativity and knowledge of the market to help my client find the perfect space and save money,” he continued.

Mad Max, Inc.’s new space is located at 5422 West Crenshaw Street, a single-story 39,489-square foot multi-tenanted manufacturing building. Situated on 4.17 acres, the property is located within Dyne Business Center in the airport industrial submarket.


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