Wednesday, September 17, 2008

Selmon's Plaza in Largo, FL Sold

TAMPA, FL--Plaza Advisors is pleased to announce the sale of Selmon’s Plaza, a Sweetbay grocery store shadow anchored shopping center located on E. Bay Drive and Keene Road in Largo (Tampa MSA) Florida. The transactions closed September 16, 2008.

The Plaza Advisors team composed of Jim Michalak, (top right photo) Lenard Williams (top left photo) and Jess Wirts, (middle right photo) exclusively represented Kimco Realty Corp, the seller on the transaction. The buyer, CRI Plaza 1, LLC, was not represented by a broker on the sale.

The project GLA is 56,668 square feet not including the 45,871 sf Sweetbay store. The asset was built in 1989. The center’s major tenants include; You Fit (fitness center) and Indigo Joes restaurant. The KFC and Bank of America outparcels were not included in the sale.

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of anchored shopping center properties in the southeastern United States.

Plaza Advisors clients include private equity, developers, and major institutions including; pension funds, life insurance companies, REITs, and money center banks.

Jim Michalak, the firm’s managing partner, is a 23 year career real estate broker. Mr. Michalak has closed over 100 shopping center transactions, with a combined GLA exceeding ten million square feet with an aggregate sales volume in excess of $1 billion. Plaza Advisors is based in Tampa, FL

Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627

NAUI Renews Lease at Pinebrooke Commerce Center

TAMPA, FL--The Dikman Company, Inc. announces that NAUI Services Group, Inc. renewed the lease located at 1232 Tech Boulevard in Tampa. (top right map)

NAUI Services Group is a California not-for-profit corporation and worldwide educational association, leasing 8,820 square in the Pinebrooke Commerce Center IV.

NAUI provides and promotes the preservation and protection of the world’s underwater environments with high quality practical education.

The Dikman Company represented the Lessor. For more information, please conact Bob Dikman, ALC, CRB, CCIM, SIOR, 813/251-5288

Marcus & Millichap Names Howard Fuerst Vice President Investments in Dallas Office

DALLAS, TX— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Howard Fuerst (top right photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Tim Speck,(bottom left photo) regional manager in the firm’s Dallas office.

Fuerst joined Marcus & Millichap in 2002 and specializes in retail investment sales. During his 24-year career in commercial real estate, Fuerst has worked for some of the largest estate real estate families in Texas, including Rosewood Property Co. (the Hunt family) and Hillwood Property Co. (the Perot family).

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Hampton Hotels Opens 11 Properties in August

(The 92-room Hampton Inn & Suites Mystic (above) at Mystic, CT, opened Aug. 1, 2008)

BEVERLY HILLS, CA—Hampton Hotels (, the international brand of nearly 1600 mid-priced Hampton Inn® and Hampton Inn & Suites® hotels, opened 11 properties ( centered chart below)) in August 2008, aggregating 1,482 new rooms.

The new openings are comprised of five Hampton Inn hotels and six Hampton Inn & Suites properties.
All openings are franchised, newly constructed hotels, with the exception of the 166-room Hampton Inn Chihuahua City, Mexico, a conversion. (top left photo)

“The demand for focused service, mid-market hotels remains constant, despite fluctuations in the economy,” said Phil Cordell, (top right photo) senior vice president, Hampton Hotels.
“The Hampton product has proven to be a great investment, an advantage that is attracting potential new franchisees in Mexico and Canada as we continue to expand there. Our product offerings and amenities appeal to business and leisure travelers who recognize the added value of staying at a Hampton Hotel.”

Hampton Hotels is one of the fastest growing brands for value-oriented and quality minded travelers. Finding a Hampton Hotel is easy - they are in urban chic locations, near shopping malls, beaches, roadside attractions - they’re everywhere offering friendly service and 100% Satisfaction Guaranteed.

Under Hampton’s “Friend in Town” initiative, Hampton web sites emphasize local flavor, displaying local photography highlighting each property’s area connections, also providing original content on such topics of interest as area attractions, historical facts and fun things to see and do around town.


Charmaine Easie-Samuels, Hampton Brand Communications, (901) 374-6462

Chris Daly, Daly Gray Public Relations, (703) 435-6293

Interest in Industry Trends and Future High as Lodging Conference Nears September 23-26 Event

PHOENIX, AZ—Officials of The Lodging Conference, a major hotel conference that attracts the nation’s top senior hospitality executives, notes that hoteliers attending this year’s conference are seeking answers about how to respond to issues raised by the nation’s credit crunch, presidential election and slow economy, and in hearing the latest, most informed forecasts for the year ahead.

“The hotel outlook is murkier than at any time in the past five years,” said Morris Lasky, (top right photo) conference chairperson. “The responses we are getting suggest that hoteliers believe we are at a crossroads and they are looking for trends and forecasts to help them firm up their plans not only for the rest of 2008, but also for 2009.”

Key panels at the 2008 Lodging Conference include:

· Survival Skills: Hot Topics and Hotel Trends - Panelists Gamal Aziz, President & CEO, MGM Mirage Hospitality; Paul Kirwin, President, Carlson Hotels Worldwide - The Americas; Mitesh Shah, (top left photo) President & COO, Noble Investment Group; Arthur Adler, (middle right photo) Managing Director & CEO-Americas, Jones Lang LaSalle Hotels; and Steven A. Rudnitsky, (middle left photo) President & CEO Wyndham Hotel Group, will offer their opinions on relevant issues important to planning and implementing successful hotel strategies in a mixed economy.

· Follow Your Compass to Find Out Where We Are Headed in 2009 - Pat Ford, (bottom left photo) President of Lodging Econometrics; and David Loeb, Managing Director, Senior Real Estate Research Analyst, R.W. Baird Hotel Real Estate Team, join Mark Lomanno, (bottom right photo) President, Smith Travel Research in a presentation of the latest industry statistics and offer their views on the future direction of hotel industry trends for 2009 and beyond.

· The Great Hotel Owners Debate - Hotel executives Ted Darnall, Chief Operations Officer, HEI Hotels & Resorts; Stephen P. Joyce, President & COO, Choice Hotels International; Colin Reed, Chairman & CEO, Gaylord Entertainment; Monty Bennett, President & CEO, Ashford Hospitality Trust Inc.; and Charles S. Henry, President, Hotel Capital Advisers, Inc., will address hot topic questions covering branding, management, market share, legal and financing.

In addition, guests will be able to take advantage of nearly 40 roundtable and breakout sessions during the four-day conference.

“We have received increased sponsorship support compared to previous conferences, which we interpret as a sign of optimism for 2009,” said Harry Javer, President, The Conference Bureau and conference co-founder.

“Once the election is decided and the direction of the country comes into focus, the industry is likely to rebound. We look forward to getting an update on the hotel operating and development outlook to better anticipate profitability in the coming 18 months.”

For additional information about The Lodging Conference, interested parties may call (212) 877-0866 or visit its Web site:

Contact: Jerry Daly or Chris Daly, Daly Gray Public Relations, 703 435 6293

Thomas D. Wood & Co. Brokers Two Loans Totaling $3.4M

ORLANDO, FL— John Worrell, Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $3,400,000 for two Mr. Gatti’s Pizza Restaurants and Interstate Industrial.

Both properties were financed through Thomas D. Wood and Company’s correspondent relationship with StanCorp Mortgage Investors.

Worrell secured financing for Mr. Gatti’s Pizza in the amount of $2,500,000 and a rate of 7%. The loan term is 10 years, based on a 25-year amortization, with a loan-to-value of 70%.

Both restaurants are 25,000 square-feet and built in 1995, and are located at 4349 Sherwood Way, San Angelo, Texas and 614 W. Wadley, Midland, Texas.

Worrell arranged financing in the amount of $900,000 for Interstate Industrial at a rate of 6.625%. The loan term is seven years, based on a 25-year amortization, with a loan-to-value of 67%.

The 22,278 square-foot industrial building was built in 1992, and is home to major tenant Critical Response Networks. Interstate Industrial is located at 2130 Interstate Drive, Lakeland, Florida.

For further information, please contact:
John Worrell (407) 937-0470,
Jessica Gurtowski, (407) 937-0470,

NAI Realvest negotiates new lease and a sublease totaling more than 9,760 SF at industrial buildings in Longwood and Oviedo

ORLANDO, FL. – NAI Realvest has negotiated two new industrial lease agreements -- a lease at Fleet Financial Center in Longwood and a sublease at an industrial building in Oviedo totaling more than 9,760 square feet.

Michael Heidrich, (top right photo) principal at NAI Realvest, represented the landlord Fleet Financial Center, Inc. in the lease of 5,000 square feet to Sanford-based Absolute Asphalt, Inc. at suite 101 at 751 Fleet Financial Court in Longwood. (Middle left map)

In Oviedo, Heidrich represented the Upstream at Bitstream LLC for the long-term sublease of 4,760 square feet, which is one-half of the entire building, at 640 Kane Court to Subtenant PWG II, Inc. of Oviedo.
Upstream at Bitstream recently leased the entire 9,520 square foot industrial building and currently occupies the other half.

For more information, please contact
Michael Heidrich, Principal, NAI Realvest 407-875-9989 or
Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989 or;
Beth Payan, Larry Vershel Communications 407-644-4142

S&P: AIG General (Taiwan) Co. Ratings Cut To 'A' After Parent Downgraded; On Watch Negative

TAIPEI Sept. 17, 2008-- Standard & Poor's Ratings Services today lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to 'A' from 'A+'.

At the same time, we placed the ratings on CreditWatch with negative implications.

The downgrade follows Standard & Poor's announcement on Sept. 15, 2008, that it had lowered its long-term counterparty rating on American International Group Inc. (AIG) to 'A-' from 'AA-', and its short-term counterparty credit rating to 'A-2' from 'A-1+'.

At the same time, we lowered our counterparty credit rating and financial strength ratings on most of AIG's insurance operating subsidiaries to 'A+' from 'AA+'. All of these ratings remain on CreditWatch with negative implications.

"The rating action mainly reflects the AIG group subsidiaries' reduced flexibility in meeting additional collateral needs and the increasing risks tied to residential mortgage-related losses," said credit analyst Andy Chang. (see "Research Update: American International Group Ratings Lowered And Kept On CreditWatch Negative,", published on Sept. 15, 2008).

The rating adjustments on AIG Taiwan mainly reflect the decline in implicit parent support, given the company's strategically important position in the group and the group's weaker financial strength.

"The rating adjustments on AIG Taiwan mainly reflect the decline in implicit parent support, given the company's strategically important position in the group and the group's weaker financial strength," said Mr. Chang.

The CreditWatch action will be resolved when the rating action on the AIG group is resolved, which will depend on the completion of asset transfers to the parent, implementation of further liquidity options, and successful sale of at least a portion of the group's business assets. The ratings on AIG Taiwan will move in tandem with the direction of the AIG group.

Media Contact:

Jeff Sexton, New York, (1) 212-438-344,

Analyst Contacts:
Andy Chang, CFA, Taipei (8862) 8722-5815
Susan Chu, Taipei (8862) 8722-5813