Thursday, October 16, 2008

Sikon Completes Two Kohl's and Two SuperTargets in Florida

BROWARD COUNTY, FL – Deerfield Beach-based Sikon Construction Corporation, one of the nation’s leading retail-commercial contractors, completed two new SuperTarget stores in Broward County.

They are 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, Senior Executive Vice President of Sikon.
Sikon also completed a two-story, 96,000-square-foot Kohl's store in Hollywood and Miramar,FL, both in Broward County. The Hollywood store at 4999 Sheridan Street was designed by Scott & Goble Architects, Tulsa, OK.

The 96,000-square-foot Kohl’s Department Store at 12200 Miramar Parkway, Miramar, was also designed by Scott & Goble Architects.

Contact: Kenneth H. Cristol 407-774-2515

Amerilodge Hospitality Group Opens New Holiday Inn Express Hotel & Suites in Chesterfield, MI

CHESTERFIELD, MI--Amerilodge Hospitality Group of Rochester Hills, MI has opened its new 77-room Chesterfield Holiday Inn & Suites (top left photo) at Chesterfield, MI.
The Grand Opening Ribbon Cutting Ceremony was hosted by the Macomb County Chamber.

The ceremony was held at the hotel located at the Chesterfield Marketplace Development on the corner of I-59 and I-94. Address of the hotel is 45825 Marketplace Blvd, Chesterfield, MI 48051.

Congresswoman Candice Miller and Township Supervisor Jim Ellis joined Chamber Chairpersons Maureen Rovas and Grace Shore, and Asad Malik and Terry Riddle from Rochester Hills based Amerilodge Hospitality Group, the project’s developer.

The new 77-room Chesterfield Holiday Inn Express Hotel & Suites blends into the contour of Chesterfield with a “Traditional Feel”. It has traditional brick to enhance the upscale feel of the development. It blends a combination of upscale suites with beautifully appointed executive suites.

The property includes suites for families, a pool, fitness center, and a conference room.

Hotel amenities include internet access, continental breakfast, local telephone calls and upgraded bedding. Whirlpool suites are also available.

The hotel’s architects were Romeo based Burmann, Simpson, & Associates. The hotel's construction was financed by Flint-based Citizens Bank.

Jenny Richardson at (810) 841-6668 or

MBA Reports Multifamily Lending Hit $147.7B in 2007

Leading Lenders Part of Industry Consolidation

Washington, DC - - In 2007, 2,739 different multifamily lenders provided a total of more than $147.7 billion in financing for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA).

Lenders closed 48,577 individual loans, with an average loan size of $3 million. The average lender made 18 multifamily loans over the course of the year.

In terms of total dollar volume, the top five multifamily lenders in 2007 were Wachovia, Washington Mutual Bank, Deutsche Bank Commercial Real Estate, Capmark Financial Group, Inc., Wells Fargo Bank, N.A.

The top three lenders in terms of the number of multifamily loans closed were Washington Mutual, Wells Fargo Bank, N.A., and Wachovia.

"2007 saw strong multifamily lending activity, but the market is changing significantly," said Jamie Woodwell, (top right photo) MBA's Vice President of Commercial Real Estate Research.

"In just the last two weeks, we've seen announcements of 2007's two leading multifamily lenders - Wachovia and Washington Mutual - being absorbed into other institutions."

(Wachovia headquarters building in Charlotte, NC, middle left photo)

The MBA report is the most comprehensive view available of the multifamily lending market and includes:

A detailed summary of the $148 billion multifamily market,
Profiles of distinct market segments, including the very-small loan (loans of $1 million or less) segment,

A listing of 2,739 lenders who made multifamily loans in 2007, including their lending volume, number of loans made and average loan size, and a listing of metropolitan areas and the volume of very-small loans made in each in 2007.

The report is based on data from the MBA 2007 Commercial Multifamily Annual Origination Volume Summation and the Home Mortgage Disclosure Act (HMDA).

The MBA survey targets specialized commercial/multifamily originators and covered $508 billion in commercial/multifamily loans in 2007.

The HMDA data adds multifamily loans from banks, thrifts and other institutions that meet certain single-family origination thresholds. When combined, the two datasets provide the most comprehensive assessment of the multifamily mortgage market available.

This publication is an example of the extensive offerings of real estate finance research produced by MBA.

CONTACT: Jason Vasquez, (202) 557-2950

AutoNation Leases 105,000 SF at 200 Las Olas Circle in Fort Lauderdale, FL

Nation's Largest Auto Retailer Renews Commitment to Downtown Fort Lauderdale

FORT LAUDERDALE, FL/PRNewswire-FirstCall/ -- AutoNation (NYSE: AN) and Stiles Corp. announce that AutoNation, the largest U.S. automotive retailer, has leased 105,000 square feet at 200 Las Olas Circle (top right photo) for its corporate headquarters, reflecting a continuing commitment to downtown Fort Lauderdale.

AutoNation will move to Stiles' new 17-story mixed-use downtown building in mid-2009, from the nearby 110 Tower.

Stiles' new building provides both practical and intangible advantages from operating efficiencies and state-of-the-art systems, to superb finishes that reflect AutoNation's dedication to quality.

"AutoNation is proud to have been a Fort Lauderdale-based company from Day One," said Mike Jackson, (top left photo) Chairman and Chief Executive Officer for the auto retailing giant.

"This community has supported us with its outstanding talent, its business-friendly policies, its welcoming spirit, and that special combination of factors is a leading reason why we've been able to grow as quickly and as successfully as we have. This is home for us, and we're looking forward to calling it home for many years to come.

"Terry Stiles, (bottom right photo) chairman and CEO, Stiles Corp., pointed to the "multiplier effect" of AutoNation's long-term commitment, noting that the lease has a 12-year term. "With more than 300 employees based at its headquarters and with many suppliers throughout South Florida, AutoNation is an economic engine for downtown and the wider community."

AutoNation will lease five floors at 200 Las Olas Circle and join Bank of Florida along with other tenants in the building. A key element in AutoNation's leasing decision included Stiles' commitment to make this a green friendly building as Stiles will be obtaining a LEED EB Certification.

Also the building's hurricane-resistant glass, covered parking, energy-efficient systems and state-of-the-art security were important contributing factors. Designed for tenant flexibility, the building has efficient floor plates of approximately 21,000 square feet.


Marc Cannon, AutoNation, Inc., +1-954-769-3146,