Tuesday, October 21, 2008

NAI Realvest celebrates 20th Anniversary as leading regional commercial property company

ORLANDO — NAI Realvest, the Orlando firm that ranks as the region’s fourth largest commercial real estate services firm with more than 67 employees and sales associates and one of the area’s largest developers of industrial space, is celebrating its 20th anniversary.

George Livingston, (top right photo) chairman and co-founder of NAI Realvest, said the firm’s 39 sales associates negotiated commercial sales and lease transactions last year that totaled more than $263 million.

During the entire first year of operations, three Realvest brokers negotiated transactions that totaled almost $500,000, Livingston said.

The $42 million sale of the 2,300 acre Ginn Reunion Resort (top left photo) site in Osceola County near Disney and the $40 million sale of the 1,800 acre International Corporate Park (bottom right photo) development east of Orlando International Airport rank as the firm’s largest transactions over the past two decades, Livingston said.

The firm’s most prominent clients include many of the region’s largest land owners — Shell Oil Corp., Port Canaveral, (bottom left photo) A. Duda & Sons and MAS Properties.

NAI Realvest has developed investment properties valued at more than $100 million, said Paul P. Partyka, (middle left photo) former Winter Springs mayor who joined the firm nine years ago and took over as managing partner of NAI Realvest earlier this year.

Partyka said the firm’s research capabilities rank among the world’s most advanced. NAI Realvest also formed a development division.

About NAI Realvest

NAI Realvest in Orlando, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network.

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.

To learn more, visit http://www.nairealvest.com/.

CONTACTS:

Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989, ppartyka@realvest.com

George Livingston, Chairman/Principal Realvest Development mailto:glivingston@realvest.comest.com

Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989, jpaiano@realvest.com

Larry Vershel or Beth Payan, LV Communications, 407-644-4142, lvershelco@aol.com

C&W negotiates lease for relocation of defense technology company, EBC Electronics

ORLANDO, FL –-–Cushman & Wakefield of Florida, Inc. (C&W) announced the lease of a 3,050 sf office and flex-space facility located in the Oviedo Commerce Center. Leasee EBC Electronics specializes in simulation products and services for defense industry customers including Lockheed Martin and British Aerospace.

Mindy Boehm negotiated the lease, representing the landlord, Oviedo Commerce Center, in the transaction for the property located at 2460 Aloma Avenue, Suite 1000.

For more information please contact:

Mindy Boehm Associate Director, Retail Brokerage 407.541.4391 mindy.boehm@cushwake.com

Brook Hines Marketing and Public Relations Associate 407.541.4401 brook.hines@cushwake.com

Shaw Mechanical Services wins Lake County Schools contract

ORLANDO, FL, Oct. 21, 2008 — Shaw Mechanical Services LLC has secured a one-year continuing services contract with Lake County Schools, Tavares, Fla., for HVAC mechanical contracting services.

Under the terms of the contract, Shaw Mechanical will provide budget estimating, value engineering, installation, equipment start-up and commissioning services for the repair or replacement of mechanical systems, ductwork and controls for the school district’s 32 facilities county wide.

Shaw Mechanical Services LLC is a Central Florida-based provider of mechanical contracting and service to building owners, property managers, facility managers, plant engineers, general contractors and consumers.

Comprehensive services provided by Shaw Mechanical include retrofits, renovations, preventative maintenance, commissioning and installation of heating, ventilating and air conditioning systems, process piping, automatic temperature controls and custom climate applications for existing structures and new construction.

Founded in 2001 by David L. Shaw, the privately-held company employs a staff of seventy from its headquarters in Orlando, Fla.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com,

HFF secures $37.8M financing of London and Geneva properties

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $37.8 million in acquisition financing for two properties located in London, England and Geneva, Switzerland.

Working on behalf of TJAC, HFF director Anthony Cutone placed two loans through CTL Capital, LLC. Proceeds are being used to acquire and renovate the properties. TJAC is an international real estate development company.

Courtfield Gardens (top right photo) is a five-story property in the Kensington area of London. Rue Muzy is a six-story property in Geneva, (bottom left photo) Switzerland. Both properties presently exist as boutique hotels.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Anthony Cutone, HFF Director, 617 338 0990, acutone@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

HFF secures $47.35M construction loan for Dallas mixed-use development


DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $47.35 million construction loan for Brick Row, (top right photo) a mixed-use development under construction in Dallas, Texas.

HFF managing director Andy Scott (middle left photo) worked exclusively on behalf of the borrower, a joint venture partnership between Winston Capital Corporation, L&B Realty Advisors and the Michigan Employees Retirement System.

A three-bank syndication which was led by Colonial Bank, along with Texas Capital Bank and Broadway Bank, provided the three-year construction loan.

Upon completion in mid-year 2010, Brick Row will consist of 500 multifamily units and 16,000 square feet of ground-level retail space configured around two central parking structures.

Designed by Dallas-based BGO Architects, the property is situated in a park like setting. The completed Brick Row project is part of a large-scale master planned development consisting of for-sale townhomes, residential condominiums, ancillary retail, a public park, and will consequently be an upscale community unlike any other in the Richardson market.

Contiguous to the Spring Valley DART Rail Station (bottom right photo) at the intersection of Spring Valley and Greenville Avenue in the north Dallas suburb of Richardson, Brick Row will offer easy transportation to downtown Dallas (approximately 10 miles to the south), corporate centers to the north and major retail and entertainment destinations.

“To get this project financed in a turbulent capital markets environment is a testament to the commitment and resiliency of everyone involved in this endeavor, and is proof that development projects with stellar sponsorship and strong locations are getting done,” said Scott. “Colonial Bank, Texas Capital Bank and Broadway Bank never waivered in their focus or determination to get this deal to the finish line.

“Projects such as Brick Row are essential in defining the new landscape of transit oriented development in the Dallas Fort Worth metroplex, and represent viable and rewarding investment product for real estate firms to add to their portfolio for many years to come,” Scott added.

“Winston Capital Corporation’s long-term relationship with Colonial Bank helped to secure the deal,” said Tony Stephenson, area president of Colonial Bank. “Colonial has a genuine interest in its clients’ needs and goals while remaining dedicated to helping them come to fruition. We are honored to be an integral part of this project.”

CONTACTS:
J. Andrew Scott, HFF Managing Director, 214 265 0880, ascott@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Jones Lang LaSalle Says Washington Office Market in Flux but Job Growth Could Fuel Demand in 2009

Bad News: Tenants delay decisions, sit on sidelines.

Good News: Metro DC economy adds 44,600 jobs in the 12 months ending August 2008.

WASHINGTON, DC--Jones Lang LaSalle reports that a lame duck Administration, coupled with uncertainties regarding the upcoming presidential and congressional elections and the worst financial and economic crisis in a generation, clouded market conditions throughout the metropolitan Washington region at the end of the third quarter of 2008.

John Sikaitis, (top left photo) senior vice president, communications, Jones Lang LaSalle, notes tenants delayed decisions and sat on the sidelines, leading to slower leasing activity, tepid tour volume, extended deal length and negotiations and a heightened incident of renewals.

While market conditions slowed to a standstill as conservatism swept through the office market, job growth in the region was resilient.

Although the country has lost 760,000 JOBS over the past nine months, job growth in the DC region has actually increased from several months ago as the cushion of the government and its contractor base allowed the Metro DC economy to add 44,600 jobs in the 12 months ending August 2008.

Additionally, unemployment remained two full percentage points below the national average at 4.1 percent.

Over the past six months, as the national economy slowed, Metro DC's job growth accelerated, nearly doubling the 22,000 jobs created in the twelve months ending March 2008 by reaching its current level of 44,600 jobs.

The job creation should fuel additional office sector requirements in the first half of 2009 even as most metropolitan areas around the country have recently experienced contracting payrolls and occupancy declines.

Despite significant job creation, an aggressive development cycle in all three jurisdictions coincided with the slowdown in demand, shifting leverage to tenants in the vast majority of product types and locations over the past few quarters, which will undoubtedly linger for the coming quarters into the latter part of 2009, at a minimum.

For more information, please contact:

John Sikaitis, 202.719.5839, John.Sikaitis@am.jll.com
Scott Homa, 202.719.5732, Scott.Homa@am.jll.com