Sunday, November 30, 2008

Sheraton Mahwah to Complete $8.2M Renovation

MAHWAH, NJ -- The Sheraton Mahwah Hotel, (top right photo) located at the Crossroads Corporate Center, is currently undergoing an $8.2 million renovation.

Scheduled for completion by first quarter 2009, guestrooms and common spaces will feature a fresh new look, in addition to a variety of upgraded amenities to enhance the guests’ comfort and overall experience.

“The renovations complement our impeccable service,” General Manager Kevin Wolford said. “The guest experience is designed to meet the needs of travelers who are in search of comfort and familiarity, offering them spacious accommodations, thoughtful amenities and superior service. When a guest chooses to stay with us, our commitment to service and loyalty will leave a lasting impression.”

Located in Northern Bergen County, Sheraton Mahwah Hotel is just 40 minutes outside of New York City and 40 minutes from Newark International Airport.

Conveniently situated near Interstate 287, Route 17, and the New York State Thruway, the hotel gives guests quick and easy access to the surrounding areas, as well as many large corporations, shopping malls, outlet shopping, golf courses, ski resorts, and fine dining locations.
Visit the hotel on-line:

The Sheraton Mahwah is operated by Interstate Hotels & Resorts, the nation’s largest independent hotel management company. For more information about Interstate Hotels & Resorts, visit the company’s Web-site:

Will Adamo, Director of Sales & Marketing – Sheraton Mahwah Hotel, (201) 529-1114 /

Edwards Construction Completes 3 Jobs Valued at $7.6M

$1.8M CarQuest Distribution Center Expansion in Ocala, FL Completed

OCALA, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the new $1.8 million, 42,000-square-foot CarQuest Distribution Center expansion at 1700 SW 38th Avenue, Ocala, FL.

Designed by MacGregor Associates Architects, Atlanta, the project consisted of sitework, slab-on-grade, relocation of existing tilt-wall panels, erection of new tilt-wall panels, structural steel roof framing, single-ply roofing, interior lighting and heating, ventilation and air conditioning upgrades.

$3.8M Iron Mountain Facility in West Palm Beach Finished

WEST PALM BEACH, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the new $3.8 million, 61,100-square-foot Iron Mountain facility located at 3501 Electronics Way in West Palm Beach, FL.

Iron Mountain globally provides information management, records management and data protection services.

Edwards’ scope of work included erection of a new 50-foot-high, Pre-Engineered Metal Building and installation of metal wall and roof panels, a new fire sprinkler system and a multi-story racking system reaching 49 feet in height. The project was designed by Architectural Alliance, Fort Lauderdale.

$2M Paycheck Fulfillment Center in Orlando Completed

OCALA, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the Paychex, Inc. Florida Fulfillment Center’s $2 million, 19,400-square-foot design-build interior build-out in an existing mixed-use dock-high building at 6870 Shadowridge Drive, Orlando, FL. The project was designed by Horton, Harley and Carter, Inc., Tampa, FL.

Contact: Kenneth H. Cristol 407-774-2515

Hunter Hotels Appoints Lee Hunter Chief Operating Officer

ATLANTA, GA—Hunter Hotels, a leading national hotel investment services firm, has appoinedf Lee Hunter, (top right photo) CHB, ISHC, as chief operating officer of the company.

He will oversee day-to-day operations of the company, including development of research, marketing packages and broker opinions of value. In addition, he will remain an active broker with the firm.

“As we’ve grown, we have added significantly greater depth to our team and increasing sophistication to our analysis and marketing efforts,” said Bob Hunter, (middle left photo) CEO of Hunter Hotels.

“We have reached the size and national scope where we need to further enhance the management of the business of hotel brokerage. Lee brings a combination of hands-on hotel real estate experience with exceptional organizational and analytical skills that allows us to stay on the leading edge of the industry.

Having worked for ownership groups, he fully understands the needs and goals of those acquiring, developing and disposing of hotel assets.

Over his 14-years career, Lee has been actively involved in the acquisition, development and disposition of mid-market select service hotels operating under such franchises as Hilton Garden Inn, Courtyard by Marriott, Hampton Inn and Holiday Inn Express just to name a few.

“As we continue to execute our growth strategy, my experience on both the buy and sell side of the equation helps differentiate us firm from our competitors and allow us to provide better service to our clients,” said Lee Hunter, chief operating officer of Hunter Hotels.

Hunter earned a Bachelor of Science degree with a double major in Accounting and Business Administration from Presbyterian College and a Masters of Management in Hospitality (MMH) degree from Cornell University, with an emphasis on Hotel Finance and Real Estate. He is a Certified Hotel Broker as well as a member of the prestigious International Society of Hospitality Consultants.

Hunter Hotels, founded in 1978, has offices in Atlanta and Washington, D.C. Hunter’s exclusive focus is in hotel brokerage and hotel-related investment banking.

Properties range from upper upscale to economy with an emphasis on premium-branded and quality independent hotels in the mid-market segment.

For more information or to view current listings, please visit or contact us at 770-691-0300 in Atlanta, or 703-246-0035 in Washington, D.C.

Contact: Patrick Daly, media, (703) 435-6293,

National Retail Properties, Inc. Declares Dividend for Its Series C Preferred Stock

ORLANDO, FL/PRNewswire-FirstCall/ -- The Board of Directors of National Retail Properties, Inc. ("Board") (NYSE: NNN), a real estate investment trust, has declared a quarterly dividend on its Series C Cumulative Redeemable Preferred Stock of 46.09375 cents per depositary share payable December 15, 2008 to shareholders of record on November 28, 2008.

The dividend represents an annualized rate of $1.84375 per depositary share.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

As of September 30, 2008, the company owned 990 Investment Properties in 44 states with a gross leasable area of approximately 11 million square feet. For more information on the company, visit

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

Grubb & Ellis|Commercial Florida Promotes Two Top Executives to Senior Vice President

TAMPA, FL --- Grubb & EllisCommercial Florida has appointed Jan Boltres, (top right photo) CCIM, and Michael Scott (top left photo) to senior vice presidents in the firm’s Tampa division.

Jeff Sweeney, (bottom right photo) SIOR, principal and managing partner of Grubb & EllisCommercial Florida in Orlando, said Boltres joined the firm in 2001 and was most recently a vice president in the firm’s Industrial Services Group in Tampa.

Boltres attended Wittenberg University, Ohio State University and Miami University in Ohio, where he earned B.A. degrees in Finance, Management and Business. He has more than 16 years of experience in commercial real estate, Sweeney said.

Scott, who joined Grubb & EllisCommercial Florida in 2000, most recently held the title of vice president in the firm’s Industrial Services Group.

Scott earned B.S. Degrees in Business Administration and Economics from Druny College in Springfield, Mass. and has more than 13 years of experience in commercial real estate.


Jan Boltres, CCIM or Michael Scott; Grubb & EllisCommercial Florida; 813-639-1111

Jeff Sweeney, President; Grubb & EllisCommercial Florida; 407-481-5387

Larry Vershel Communications; 407-644-4142

New Faces and New Posts at Marcus & Millichap


CHICAGO, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Gregory LaBerge (top right photo) regional manager of the firm’s Chicago office, according to Harvey E. Green, (top left photo) president and chief executive officer.

Most recently, LaBerge served as the sales manager of the firm’s Chicago office.

“Greg and his team of investment specialists have excelled in bringing investment capital from all over the United States to the Chicago market place, which is crucial during a transitional real estate cycle,” comments Green. “His management skills, combined with his knowledge of the local commercial real estate market, make him an ideal selection as the new regional manager of our Chicago office.”

LaBerge joined Marcus & Millichap in October 2005, specializing in multi-family investment transactions. He was a member of the firm’s National Multi Housing Group and was promoted to associate status in January 2007.In 2008, LaBerge was named sales manager of the Chicago office.

LaBerge earned a bachelor’s degree in economics from Northwestern University. He also received an MBA in finance and strategy from the Kelley School of Business at Indiana University.


FORT WORTH, TX — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named T. Reed Hudson (middle left, under Harvey Green photo) to the position of associate vice president investments.

It represents excellence in client relationships, investment real estate expertise and sales volume, according to Drew Kile, (middle right photo) regional manager in the firm’s Fort Worth office.

Hudson joined Marcus & Millichap in 2004 and specializes in retail investment sales and serves as an associate director of the National Retail Group. During his career at Marcus & Millichap, Hudson has closed more than 50 transactions, which were valued at more than $150 million.


NEW YORK, N.Y.– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Arthur Zuckerman (middle right photo) as an associate vice president investments in the Manhattan office, according to Edward Jordan, (middle left photo, under Reed Hudson photo) regional manager of the Manhattan office.

“Arthur clearly understands that partnering with Marcus & Millichap creates potential for growing his business in a transitioning market,” explains Jordan. “He joins several other high-profile investment specialists from competing brokerage firms who have made the same decision to join Marcus & Millichap over the past few months.”

As an associate vice president investments, Zuckerman will arrange the sale of a variety of properties, including multi-family, hotels, loft buildings, land development and parking garages.

Zuckerman has a diverse mix of clients, including high net-worth individuals, institutions and pension funds.

He is a trustee of Congregation Rodeph Sholom, a member of the Real Estate Board of New York, president of Beach House Condominium Association and a former director of the Associated Hotel and Motels.
“Marcus & Millichap’s extensive national brokerage platform and its ability to access a nationwide pool of investment capital attracted me to the firm,” says Zuckerman. “In addition, Marcus & Millichap has developed an excellent reputation as a leading investment sales brokerage firm in New York City.

"As a result, the company has captured a significant market share and will continue to be competitive in the high-stakes New York City market.”

Prior to joining Marcus & Millichap, Zuckerman served as vice president at Helmsley Spear Inc., for more than 30 years. Before his real estate sales career, he managed 1,700 apartment and commercial property units for Harry Helmsley and Irving Schneider.

Zuckerman earned a bachelor’s degree from Upsala College.


INDIANAPOLIS, IN– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Joshua Caruana (middle left photo, under Edward Jordan photo) regional manager of the Indianapolis office, according to Harvey E. Green, president and chief executive officer.

“Joshua has been serving as the sales manager of the Indianapolis office since April 2008,” comments Green. “His experience with all sectors of the investment real estate market and his management skills make him the ideal candidate for the regional manager position.
" Under Josh’s leadership, the Indianapolis office will continue to provide superior transaction and advisory services to our private and institutional clients throughout Indiana and the Midwest.”

Caruana joined the firm under the sales intern program in Ontario in March 2001 and became an agent in June 2002. He was promoted to senior status in June 2005 and earned a Sales Achievement Award the same year. Caruana joined the management team in November 2007 where he first served as sales manager of the Long Beach office.

Caruana graduated with a bachelor’s degree in business and economics from Westmont College in Santa Barbara, Calif.


DALLAS, TX– Marcus & Millichap Capital Corporation (MMMC) has named Alex Inman (bottom right photo) as an associate for the firm’s Dallas office, according to William E. Hughes, senior vice president and managing director of MMCC.
Inman is responsible for originating loans in the company’s Dallas office, where he specializes in structuring debt and equity across all major property types.

Prior to joining MMCC, Inman was a business development officer for Newfund Capital/Prosper Bank in Dallas. Prior to that, Inman served as a commercial loan officer for BMC Capital in Dallas.

At both firms, he focused on originating new business and maintaining client relations while specializing in arranging loans for ground-up construction, multi-family, office, industrial and retail properties nationwide. Inman began his career as an originator for Reliance Mortgage Co. in Dallas.

Inman is a graduate of the University of Texas at Austin and holds a bachelor’s degree. He also holds a state of Texas real estate license.

Press Contacts:

Stacey Corso, Marcus & Millichap Real Estate Investment Services, Communications Department, (925) 953-1716

Kathy Molitor, Marcus & Millichap Capital Corp., (925) 953-1704