Tuesday, February 3, 2009

Crescent Resources negotiates lease for 7,171 SF of Class A office space in Lake Mary, FL

LAKE MARY, FL. – Crescent Resources, LLC has negotiated a long-term lease for 7,171 square feet of Class A office space at 300 Primera Blvd. in the Primera Four building at The Crescent at Primera in Lake Mary, FL.

Ida I. Wozniak, (top right photo) CCIM, vice president of commercial leasing for Crescent Resources LLC in Florida, negotiated the lease agreement with the tenant, Tel Affects, representing the landlord Sun Life Assurance of Canada, based in Wellesley Hills, Mass.

Sarah Castor (bottom left photo) of CresaPartners participated in the transaction representing the tenant Tel Affects, LLC, of Lake Mary.

For more information, please contact

Ida I. Wozniak, CCIM, Vice President of Commercial Leasing / Florida, Crescent Resources LLC; 201 S. Orange Avenue, Orlando, Fla; 407-472-3383; iiwozniak@crescent-resources.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Davidson Hotel Company Sees Significant Opportunity to Grow Third-Party Management Business in 2009

Company Expects Owners/Lenders Will Look for Experienced Operators to Not Only Weather Current Economy, but Also Enhance Value

MEMPHIS, TN, Feb. 3, 2009—Davidson Hotel Company, one of the nation’s largest independent hotel management companies, today announced that it expects to increase substantially its third-party hotel management contracts during 2009.

Company officials noted that they already are witnessing growing demand from owners/lenders looking to increase their assets’ value and profitability during the current economic downturn.

The company anticipates it could add up to 10 new management contracts this year. Since the first of the year, Davidson has signed an agreement to operate the 329-room, AAA Four Diamond® Wynfrey Hotel in Birmingham, Ala., and expects to announce a second contract to manage a nationally franchised, mid-Atlantic hotel within the next 30 days.

“With RevPAR down across the hospitality industry, owners and lenders are seeking seasoned hotel operators with a proven track record of improving the bottom line in all phases of the economic cycle,” said John A. Belden, (top right photo) Davidson’s president and chief executive officer. “Davidson successfully has improved operations for countless underperforming properties throughout its 35-plus year history.”

“Results are what owners/investors seek more than ever today,” said Patrick F. Lupsha, Davidson’s chief operating officer. “Last year, our portfolio’s RevPAR significantly outperformed the industry and our competitive set in every quarter.

" As the economy struggles, we believe owners and investors will seek the best possible management to generate returns that will allow them to service their debt first, and, secondarily, to enhance the value of their properties. This creates significant opportunities for a deeply experienced and stable operator like Davidson.”

Steven A. Margol, (middle right photo) Davidson’s executive vice president of business development, said the company also has the financial strength to co-invest with owners.
“Some owners want their management companies to have ‘skin in the game.’ We have sliver investments in approximately half the properties we manage and have the capital available to co-invest when appropriate. Few other management companies have those resources available today.”

Davidson recently named Bernard M. Murphy, (bottom left photo) senior vice president-business development, to spearhead the company’s efforts in securing third-party management contracts.


Cyndi Norwood, Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com

Jerry Daly, Chris Daly (media), Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

NAI Realvest negotiates acquisition of 10-acre Multi-Family Site in Maitland for $1.25M

MAITLAND, FL - NAI Realvest has negotiated the acquisition of a 10-acre multi-family site located at 8805 Albemarle Rd. in Maitland for $1,250,000.00.

NAI Realvest Principals Matt Cichocki, ( top left photo), Kevin O’Connor (bottom right photo) and chairman George Livingston, (top right photo) negotiated the sale representing the buyer, Maitland Blvd. Apartments Association LLLP.
The property is to be assembled with an adjacent parcel for a planned apartment development.

The seller was Vereen Land Trust, based in Maitland.

For more information, contact:

Matt Cichocki, Kevin O’Connor, NAI Realvest 407-875-9989 mcichocki@realvest.com; koconor@nairealvest.com;

George Livingston, Chairman NAI Realvest, 407-875-9989; glivingston@realvest.com;

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

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Family Dollar Picks CBRE Orlando to Hunt for New Development Site

ORLANDO, FL, Feb. 3, 2009 – The Orlando office of CB Richard Ellis is pleased to announce, Bobby Palta, (middle right photo) Senior Associate, has been retained for site selection on behalf of Family Dollar stores expansion within Central Florida.

In today's economy, when most retailers are downsizing, Family Dollar will be expanding with over 200 new stores planned nationwide in 2009.

"This expansion will benefit the residents of Central Florida looking for value and savings in Family Dollar's updated store format," says Palta. Family Dollar (NYSE: FDO) has a market capitalization of $3.9 Billion and is one of the few retailers to report positive Comp Sales Growth last year of 1.2%.

Family Dollar operates over 6,600 stores in a contiguous 44-state area ranging northeast to Maine, southeast to Florida, as far northwest as Idaho and southwest to Arizona.

A typical store ranges in size from 7,500 to 9,500 square feet and most are operated under leases. The relatively small store size permits us to open new stores in rural areas and small towns, as well as in large urban neighborhoods.

Within these markets, our stores are located in shopping centers or as free-standing buildings or in urban storefronts convenient to our customers

Family Dollar is one of the fastest growing discount store chains in the United States. During the last ten years, more than 4,000 new stores have been added to the chain, of which over half were added in the last five years.

In 1958, a 21-year-old entrepreneur with an interest in merchandising became intrigued with the idea of operating a low-overhead, self-service retail store.

Leon Levine (bottom left photo) believed he could offer his customers a variety of high-quality, good-value merchandise for under $2. Because he had grown up in his family's retail store, he understood value, quality and customer satisfaction.

The merchandising strategy that drives this growth provides customers with good values on basic merchandise for the family and home in a small-box, neighborhood format. Our merchandise is sold at everyday low prices in a no frills, convenient, self-service environment. Most merchandise is priced under $10.00.

For more information, please visit www.familydollar.com/.

Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

NAI Realvest appoints Tom Hankins Principal and Broker

ORLANDO, FL --- NAI Realvest, which ranks as one of the Central Florida region’s most active commercial property companies and a major area developer of industrial facilities, has appointed Thomas E. Hankins, (top right photo) CCIM, SIOR a principal and broker.

Paul P. Partyka, (bottom left photo) managing partner of NAI Realvest, said Hankins, who specializes in investment sales and land, has more than 25 years of experience as a commercial property broker including his own consulting business.

Throughout his commercial real estate career as an executive with realty and development firms in Central Florida, Hankins served as president of CCIM Institute’s Florida Chapter and received the organization’s Hank Thompson Award.

He was charter president, establishing the 11-county Central Florida Commercial Association of Realtors and was recipient of that organization’s Wilbur Strickland Memorial Award.

Currently, Hankins is a member of the Metro Orlando Economic Development Commission’s Governor’s Council and Executive Board.

Prior to entering real estate, Hankins had a distinguished 13-year career with UNISYS (formerly Burroughs Corporation).

“Tom Hankins is a leading broker in the commercial real estate industry in Florida and we are delighted that someone of his experience has joined our firm,” said Partyka.

Hankins has brokered commercial property transactions valued at more than $200 million since 1997.
For more information, please contact:

Paul P. Partyka, Managing Partner NAI Realvest 407-875-9989 (x1758) ppartyka@realvest.com;

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

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

Coachmen Industries, Inc. Housing Group Profitable for 2008, Despite Consolidated Loss for Fourth Quarter

ELKHART, IN/PRNewswire-FirstCall/ -- Coachmen Industries, Inc. (NYSE:COA) announces its financial results for the fourth quarter and full year ended Dec. 31, 2008.

"As previously announced, we sold most of the assets of the RV Group on Dec. 26, 2008. RV finished-goods inventories and some other assets of the Group were sold below book value.

"Combined with operating losses sustained by the RV Group during the quarter, and the write-down of the remaining goodwill balances, this resulted in a rather unusual overall book loss for the Company for both the fourth quarter and the full year 2008.
"However, these actions also provide us with a clean platform to measure the performance of the restructured company as we move forward.

"In that regard, the overall book loss should not overshadow the perhaps equally extraordinary performance of our Housing Group, which posted a modest pre-tax profit for the full year 2008, as previously predicted," said Coachmen's President and CEO, Rick Lavers. (top right photo)

For a complete copy of the company's news release and financials, please contact
Thomas Gehl, Secretary, or Colleen Zuhl, Chief FinancialOfficer, both of Coachmen Industries, Inc., +1-574-266-2531

Obama Plan Doesn't Address Commercial Real Estate, Says Grubb & Ellis's Bob Bach

SANTA ANA, CA--Bob Bach, (top right photo) senior vice president and chief economist, Grubb & Ellis Co., says in his latest market overview, "Construction cost inflation for commercial real estate has leveled off sharply as lending and new starts have plunged.

"Inflation in the broader economy, which was an issue as late as last summer, has taken a back seat to the fear of deflation as demand dries up across the globe, sapping business pricing power and profits.

"However, it is too early to be concerned about deflation. The $800 to $900 billion economic rescue package working its way through Congress is expected to cushion the fall in demand and set the stage for a recovery beginning in 2010 or 2011.

(Chart below shows non-residential construction inflation as a year-to-year percent change.)

"Although the package does not address commercial real estate, the industry has cropped up in discussions on how to use the second $350 billion of the Troubled Asset Relief Program funds, generally in the context of loan guarantees or government purchases of CMBS loans to unclog the market for new private lending.

"These programs are unlikely to jump-start real estate construction, which won't be needed until the economy absorbs the growing inventory of excess space. But infrastructure spending will play a starring role in the economic rescue package, which is likely to stimulate construction and repair of roads, bridges, mass transit and energy projects, keeping a floor under construction costs.

Source: U.S. Bureau of Labor Statistics, Grubb & Ellis

For more information or to speak with Bob Bach, please contact Janice McDill at 312.698.6707

Orange County, FL Reports Resort Tax Collections for December 2008

Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that December 2008 collections were only one percent lower than December 2007.
“December’s resort tax numbers are clearly stronger than the previous two months, and I am happy to report them. However, given the continuing instability in the economy, it is unwise to make projections based on a single month’s results,” Haynie added.

For a complete copy of the resort tax news release and numbers, please contact:

Martha O. Haynie, (407) 836-5690, or

Joan Randolph, Executive Assistant, Comptroller's Administration, 201 S. Rosalind Avenue, Orlando, Florida, 32801. Tele: 407-836-5986. Fax: 407-836-5599.

Record Operating Results Announced by National Retail Properties, Inc.

ORLANDO, FL, Feb. 3, 2009 /PRNewswire-FirstCall/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter ended December 31, 2008, including an 11.6% increase in revenues and an 8.9% increase in Funds From Operations ("FFO") per share compared to the same period for 2007.

Additionally, the company announced a 25.2% increase in revenues and a 6.4% increase in FFO per share for the year ended December 31, 2008 compared to the same period for 2007.

For a complete copy of the operating results, please contact Kevin B. Habicht, (top right photo) Chief Financial Officer, National Retail Properties, Inc., +1-407-265-7348