Saturday, February 21, 2009

NAIOP Central Florida Gets New Name and Logo

ORLANDO, FL– NAIOP Central Florida, the Commercial Real Estate Development Association, in conjunction with NAIOP Corporate, has launched a new name and brand identity that clearly represents its membership’s expansion into a broader scope of commercial real estate development.

Formerly known as the National Association of Industrial and Office Properties, the 18,000-member association is now known solely as NAIOP.

A definer, the Commercial Real Estate Development Association, complements the name and signifies the association’s strategic shift of encompassing all professionals within the industry.

This change will provide NAIOP members with even greater benefit and value and will open the door to an even larger membership, enabling NAIOP Central Florida to offer additional resources while expanding its reach to multiple levels within the industry. NAIOP Central Florida is one of 56 NAIOP chapters throughout North America and is the leading organization for all commercial real estate development professionals within the Central Florida area.

“NAIOP has always been known as the preeminent commercial real estate organization,” said 2009 chapter president Jeff K. McFadden, (top right photo) SIOR, managing partner of Taurus Southern Investments, LLC, a subsidiary of Boston-based Taurus Investment Holdings, LLC.

“I am honored that my peers have chosen me to represent the commercial real estate industry in Central Florida.”

“NAIOP is the leading association for the development industry, extending its reach beyond office and industrial product types into mixed-use, medical office, retail and more,” said Thomas J. Bisacquino, (bottom right photo) NAIOP Corporate president in Herndon, VA.
“We recognize that our members engage in diverse development opportunities, and our brand expansion supports our vision of advancing responsible commercial real estate development.”

Commercial real estate has a tremendous impact on the nation’s economy, with construction-related spending reaching $549 billion and adding 839 million square feet of existing building space in 2007, the latest comprehensive data available. It is one of the leading employers in the United States, supporting 4.89 million full-time equivalent jobs in 2007, and generating personal earnings of $170.1 billion.

McFadden added, “NAIOP will stay strong at the Corporate, State and Chapter levels in its commitment as the voice of the commercial real estate community, and will not falter in taking a stand on issues that impact our industry.”
Contact: Kenneth H. Cristol, 407-774-2515

Keene Completes 45,000-SF Publix at Walden Woods

MAITLAND, FL – Keene Construction Company, Maitland, one of America’s largest retail contractors, completed the new 45,000-square-foot Publix at Walden Woods at 2204 James L. Redmond Parkway in Plant City, in Hillsborough County, FL.

Developed by RMC Property Group, Tampa, the redevelopment project was designed by Cuhaci & Peterson Architects, Orlando, and involved demolition of an existing Publix, construction of the new Publix store as well as a new canopy for the adjacent retail stores. Notably, Keene has constructed over 140 Publix stores for the Lakeland, FL-based grocery giant.

Contact: Kenneth H. Cristol, 407-774-2515

Terry's Electric Completes Job at Vacation Village at Parkway Resort

KISSIMMEE, FL – Terry’s Electric, Inc., one of Florida’s leading electrical contractors, completed an electrical contract for the new multimillion-dollar, 8-story, 259,100-square-foot Vacation Village at Parkway Resort, (top left photo) Buildings 18 and 19, in Kissimmee, FL.

Winter Park Construction, Winter Park, FL, served as general contractor for the 224-unit project according to Mark Neveu, President of Kissimmee-based Terry’s Electric.

Contact: Kenneth H. Cristol 407-774-2515

SchenkelShultz Designs Addition at Florida Atlantic University

BOCA RATON, FL – SchenkelShultz Architecture, West Palm Beach, one of Florida’s leading green design firms, designed Florida Atlantic University’s new $5.6 million, 15,283-square-foot Office Depot Center (top right photo) for Executive Education addition in Boca Raton, FL.

Serving as a joint-use facility for Florida Atlantic University’s Graduate Business program and Office Depot, the state-of-the-art facility was designed to provide a Class A corporate office environment to serve as a training center for Office Depot executive employees.

Integrating seamlessly with the existing FAU College of Business, the design for the two-story facility features maximum use of natural daylight and includes: a tiered, 80-seat seminar/case study room with distance learning capabilities for worldwide training; meeting rooms equipped with video conferencing; classrooms and nine breakout rooms for small group discussion; student gathering/collaborative study areas; and conference rooms and offices for the center’s director and staff.
Suffolk Construction Co., West Palm Beach, served as construction manager for the project.

Contact: Kenneth H. Cristol 407-774-2515

Blockbuster Video Extends Lease in Kissimmee, FL

KISSIMMEE, FL – Deerfield-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that Blockbuster Video has extended its multi-year, 2,972 square-foot lease at Konover South’s Publix-anchored, 107,138-square-foot Poinciana Place shopping center at US 192 and SR 535 in Kissimmee, FL.

Company leasing specialist Michael Fetherston represented Konover South in the transactions. Other major tenants include Smokey Bones Barbeque & Grill, as well as A&H Photo, Elite Vacations, Gemstone Properties, Hershey’s Ice Cream, NYPD Pizza and others.

Contact: Kenneth H. Cristol, 407-774-2515

Tri-City Completes $747,000 Job at Fairview Grande Condos, Orlando

ORLANDO, FL – The Multi-Family and Residential Division of Tri-City Electrical Contractors, Inc. completed $747,000 of work at the new 6-story, 50-unit, 90,560-square-foot Fairview Grande Condominiums (top right photo) overlooking Lake Fairview in Orlando, FL, under its contract with Fairview Grande Development, Orlando, FL.

Contact: Kenneth H. Cristol 407-774-2515

Marcus & Millichap Capital Corp. Arranges $7M Loan for El Segundo, CA Shopping Center

EL SEGUNDO, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7 million fixed-rate loan for the acquisition of a 12,549-square foot Class A shopping center, (top right photo) located at 2251-2263 Maple Ave. and 821-837 Douglas St., in El Segundo.

Jake Roberts and Anita Paryani, both senior directors in the firm’s West Los Angeles office, and Sharone Sabar, an associate director in the firm’s Encino office, arranged the financing package for the Class A retail property.

“The borrower came to MMCC seeking financing for the acquisition of a newly constructed retail center,” says Roberts.

“The property was fully occupied by such tenants as Starbucks, Noah’s Bagels, Subway and Scottrade. The purchase price was $607 per square foot, and the borrower was seeking a long-term, fixed-rate loan.

"MMCC was able to arrange fixed financing at 4.74 percent,” states Roberts.

“We were able to negotiate a favorable rate during a time when the economic outlook on retail properties is less than favorable.”

Financing for this transaction was provided by a commercial bank at the rate of 4.74 percent. Terms of the loan are for seven years with a 30-year amortization schedule. Loan-to-value was 65 percent.

“What sets this transaction apart is that MMCC was able negotiate a 100 percent recourse loan for the borrower,” adds Roberts.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704

Cushman & Wakefield's Matthew McKeever Closes 2 Lease Deals Totaling 56,000 SF in Orlando, FL

C&W negotiates lease for IDEAS move to downtown’s emerging "Creative Village"

ORLANDO, FL – Cushman & Wakefield of Florida, Inc. (C&W) announced a new, long-term lease which relocates IDEAS Innovation Studio from the backlot of Disney’s Hollywood Studios to a 15,000 square foot office in downtown Orlando’s "Creative Village."

Matthew McKeever, CCIM, SIOR, Senior Director, Office Brokerage Services represented the landlord, Orlando Sentinel Communications Company in the transaction that brings the award-winning entertainment, learning and marketing firm to 64 East Concord Street after more than 7 years at the Disney property in Lake Buena Vista.

C&W negotiates leases for new Concorde Career College campus in Orlando

ORLANDO, FL– Cushman & Wakefield of Florida, Inc. (C&W) announced two new, long-term leases, which bring a new vocational college to Orlando. Representing the tenant, Concorde Career College, Matthew McKeever CCIM, SIOR, Senior Director, Office Brokerage Services penned the deals worth more than $10 million.

Offering degrees in medical assisting, dental assisting and medical office administration, Concorde Career College will occupy more than 41,000 square feet in Orlando Central Center located behind Fashion Square Mall. The college will be the sole occupant of the Commodore Building at 3444 McCrory Place, and the Bainbridge Building at 3421 Lawton Road.

Committing to a lease in excess of 10 years, the college’s new Orlando campus will be Concorde’s fourth for Florida with other locations in Tampa, Jacksonville and Miramar.

Contact: Brook Hines, 407 541 4401,

Turner Completed $3B of Green Construction During 2008

NEW YORK, NY/PRNewswire/ -- Turner Construction Company, the nation's leading builder of "green buildings," completed more than $3 billion of green construction projects during 2008.

In addition, the firm's sustainable construction work has grown to 40% of its backlog.

Turner's green building projects are in wide array of building types including in the education, commercial, healthcare and aviation segments.Turner has completed 80 projects that have been LEED Certified by the U.S. Green Building Council (USGBC).

An additional 130 projects are LEED Registered. These projects are employing strategies to improve a building's performance in five key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

For a complete copy of the company's news release showing a list of Turner's active green projects during 2008, please contact Shannon Eckhart of Turner Construction Company,+1-212-229-6084. Web Site:

Arbor Closes Two Apartment Loans Totaling $13M

Kings Bridge Apartments in Roswell, GA Obtains $10,614,100 Fannie Mae DUS® Loan

Uniondale, NY (February 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $10,614,100 loan under the Fannie Mae DUS® ARM product line to refinance the 312-unit complex known as Kings Bridge (top right photo) in Roswell, GA.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

The loan was originated by Ronen Abergel, (top left photo) Director, in Arbor’s full-service New York, NY lending office. “The terms of the loan allowed the borrower to refinance their current debt, yet maintain flexibility in the event of reversion in the near future,” said Abergel.

Thompson Drive Complex in Randolph, MA Receives $2.69M Loan

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,693,500 loan under the Fannie Mae DUS® Small Loan product line to refinance the 24-unit complex known as Thompson Drive in Randolph, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.51 percent.

The loan was originated by John Kelly,(bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“This transaction demonstrates Arbor’s continued ability to provide the most favorable financing available for multifamily properties.

"Our client has owned the property for several years and has done an excellent job of maintaining a quality asset,” said Kelly. “Arbor’s small balance multifamily program continues to be an excellent financing option for owners/operators across the country.”

CONTACT: Ingrid Principe, PH 516 506 4298. FX 516 542 2555.