Thursday, March 19, 2009

Grubb & Ellis Secures 145,000-SF Lease for Cadeco Industries in Houston, TX

HOUSTON (March 19, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has secured an approximately 145,000-square-foot lease at Portwall Distribution Center (top right photo) on behalf of Cadeco Industries Inc., a leading service provider of raw coffees.

Owned by Houston-based Warehouse Associates, the warehouse space is located at 530 –542 Portwall St., and is split between two single-story buildings, one offering 81,800 square feet of rentable area and the second offering 62,820 square feet of rentable area, all situated on approximately 7 acres of land. Cadeco Industries took occupancy March 1.

“Two of the attractive qualities of this distribution warehouse for Cadeco Industries are the front loading docks and the accessibility to Interstate 10, both of which will help facilitate the transportation of the company’s goods,” said John Nicholson, senior vice president of Grubb & Ellis’ Houston office.

Also of Grubb & Ellis’ Houston office, Doug Nicholson, senior vice president, joined John Nicholson in the representation of the tenant, Cadeco Industries. Warehouse Associates represented themselves.

Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

Stevens Tombrink Named VP/Business Development at The Sembler Co.

ST. PETERSBURG, FL, Mar. 19, 2009--The Sembler Company is pleased to announce the appointment of Stevens E. Tombrink,(top right photo) CCIM as Vice President of BusinessDevelopment.

Stevens was formerly Regional Vice President of Real EstateServices at Equity, Inc., where he oversaw the entire operation of the brokerage and property management division for the Southeast region of United States.

He is also immediate past Florida president of National Industrial and Office Properties Association (NAIOP).

In his new capacity Stevens responsibilities will include acquiring new fee generating business opportunities in the areas of Property Management, Leasing and Development. He also plans to offer services related to the growing area of foreclosure and receivership of commercial real estate and will seek undervalued retail properties for acquisition.

Contact: Alissa Mitchell, Marketing Assistant, 727.384.6000 FAX 727.345.7340.

HFF secures $7.2M financing for southern Maryland Class A office buildings

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has secured $7.2 million in financing for Holly II and Holly III, Class A, multi-tenant, office buildings (top right photo) totaling 106,514 net rentable square feet in California, Maryland.

Working exclusively on behalf of Wildewood Development Corporation, HFF senior managing directors Bill Asbill (top left photo) and Bob Donhauser (middle right photo) and director Cary Abod placed a five-year, 4.69% fixed-rate loan with PNC Bank, which was used to refinance a securitized loan.

Located at 44427 and 44423 Airport Road respectively, Holly II and Holly III are within the Wildewood Professional and Technology Office Park less than five miles from the Patuxent River Naval Air Station (“NAS”) and the Naval Air Systems Command (“NAVAIR”) headquarters.

Holly II, which has 54,221 square feet of office space plus a 3,793-square-foot conference room facility, is 94% occupied by tenants including General Dynamics and Lockheed Martin. Holly III has 52,293 square feet of fully leased office space.

The major tenant at Holly III is ARINC.

“NAVAIR and NAS attract all of the major defense contractors to the California, Maryland area and provide stable tenant demand for the 1.9 million-square-foot office market,” said Asbill.

Since its inception in 1981, Wildewood Development Corporation has developed 15 buildings for a variety of tenants and users within St. Mary’s County, Maryland.

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, loan sales and commercial loan servicing.

William S. Asbill, Senior Managing Director, (202) 533-2500,
Cary P. Abod, HFF Director, (202) 533-2500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

Arbor Closes $17.5M Fannie Mae DUS® ARM Loan on Reflections of Island Park in Shreveport, LA

UNIONDALE, NY, Mar. 19, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $17,500,000 loan under the Fannie Mae DUS® ARM product line to finance the 168-unit complex known as Reflections of Island Park(top right photo) in Shreveport, LA.

The 10-year loan amortizes on a 30-year schedule and carries an adjustable note rate of 4.58 percent.

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

“Architecturally, the subject property has an outstanding design and layout consistent with the unique Louisiana style,” said Edwards.
“The property is well- positioned in the marketplace, and we were pleased to provide the financing for an experienced developer in the region.”

Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555,

Survey Names CB Richard Ellis No. 1 Brand in Commercial Real Estate

CBRE Tops Lipsey Brand Survey for Eight Consecutive Years

ORLANDO, FL – Mar. 19, 2009 – For the eighth year in a row, CB Richard Ellis has been named the leading global brand in commercial real estate, according to a survey of real estate professionals from around the world. CB Richard Ellis has been named the top brand every year since the survey's inception in 2002.

"Our peers have spoken, and for the eighth straight year, they have chosen CB Richard Ellis as the top commercial real estate services brand in the world - another confirmation of the position we've attained, both in Central Florida and across the globe," said Bill Moss, (top right photo) Senior Managing Director for CBRE in Orlando.

Conducted by The Lipsey Company, the survey measures how industry participants perceive commercial real estate brands. More than 40,000 professionals from REITs, institutions, lenders, commercial brokerages, and asset and property management firms participated in the survey. Responses came from U.S. and international real estate professionals.

"Being recognized once again as commercial real estate's top brand attests to the confidence that our clients place in us and the success of our people in delivering exceptional service on a daily basis," said Calvin W. Frese, Jr., (bottom left photo) CB Richard Ellis Global Chief Operating Officer & Group President, Americas.

"Our 30,000 professionals are the CBRE brand. Their talent, combined with our unsurpassed global platform, has solidified our position as the industry leader, and built our reputation as the premier commercial real estate services company in the world."

The Lipsey Company provides training and professional development services to the commercial real estate industry.

Contact: Angelique Greven, 407.839.3158,

Marcus & Millichap Arranges Sale of 3 Pad Sites in Mission Viejo, CA for $14.4M

MISSION VIEJO, CA-- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of three single-tenant buildings that are pad sites to the Trabuco Hills Shopping Center. (top right photo)

The sales price of $14.4 million represents $594 per square foot and a cap rate of 6.21 percent.

Scott Hook, first vice president investments and a senior director of the firm’s National Retail Group in Newport Beach, represented the buyer.

“The buyer assumed an attractive loan with a 5.7 percent interest-only fixed rate until 2016 with $5.1 million down and purchased one of the premier properties in a coveted South Orange County submarket,” says Hook. “The buyer’s purchase partially satisfied a 1031 tax- deferred exchange.”

The pad sites are located in Mission Viejo at 27785, 27845 and 27865 Santa Margarita Pkwy.
This northwestern corner of Santa Margarita Pkwy. and Marguerite Pkwy. receives excellent frontage and visibility from these two main thoroughfares.
The location is between State Highway 241, known as the Foothill Transportation Corridor, and Interstate 5, the San Diego Freeway, in Southern Orange County.

Current tenants at the sites are Walgreens, Ramona Tire and Claim Jumper. The sites are a part of Trabuco Hills Shopping Center, Mission Viejo’s premier neighborhood shopping center.

The population within a three-mile radius is greater than 134,000 and the average household income is in excess of $105,000.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Commercial Real Estate Veteran Jeffrey Utsch Joins Grubb & Ellis Company’s Tucson Office

TUCSON, AZ – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that commercial real estate veteran Jeffrey Utsch (top right photo) has joined its Tucson office as vice president, specializing in the sale of vacant land.

Utsch is responsible for evaluating and analyzing any vacant land by ascertaining its current status, marketability, and potential value, competing properties and alternative options on behalf of his clients.

“Jeff Utsch has a long history in the commercial real estate industry and has had quite a successful career thus far,” said Robert Davis, senior vice president of Grubb & Ellis’ Tucson office.

“We are extremely pleased he has chosen to join Grubb & Ellis and are looking forward to seeing the results of his highly motivated and dedicated work ethic. The Tucson office, as well as the clients we serve, will be strengthened with his arrival.”

Prior to joining Grubb & Ellis, Utsch spent 16 years as president and chief executive officer of Western Associates Development, where he purchased and sold more than 500 real estate properties valued in excess of $100 million, including more than 2,500 subdivision lots in southern Arizona. He holds a bachelor’s degree from the University of Arizona.
Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

Hotel Industry Veteran Named to Lead Wyndham Hotel Group Communications

PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest franchisor of hotels, announced the appointment of lodging industry communications veteran Cary Broussard (top right photo) as vice president of communications, responsible for the development and implementation of the business unit’s global external and internal communications strategy.

Reporting to Eric Danziger, (middle left photo) Wyndham Hotel Group president and chief executive officer, Broussard’s primary focus will be positioning the hotel brands to keep them top of mind with key consumers and influencers, highlighting the benefits and opportunities across brands and reinforcing the Hotel Group’s reputation as a service leader in the hospitality industry for customers, hotel owners and employees.

Broussard joins Wyndham from Meeting Professionals International in Dallas where she was hired to revitalize and expand the organization’s global membership base.

Carrying the formal title of vice president of global marketing and brand strategies and the informal title of “chief story teller,” she oversaw the development of a new brand architecture “Connecting Through the Energy of Many” that aligned all communication, marketing and sales channels, expanding the company into more than 80 countries.

Through these efforts, MPI membership increased by 20 percent to nearly 25,000 worldwide, making the organization the largest membership community for meeting and event professionals.

The appointment marks a return for Broussard who served the former Wyndham International for more than 12 years in leadership roles in communications, marketing and diversity.

CONTACT: Rob Myers, Communications Coordinator, Wyndham Hotel Group, 22 Sylvan Way, Parsippany NJ 07054. PH (973) 753-6590.

Simeon Miranda Named General Manager of Marriott Anaheim Suites

SEATTLE, WA—Officials of the Dow Hotel Company, LLC, a hotel ownership investment and management company, announced that Simeon Miranda (middle right photo) has joined the company as general manager of the 371-room Marriott Anaheim Suites (top left photo) in California.

He will oversee the property’s day-to-day operations and report directly to Steve Falciani, (bottom right photo) regional vice president of operations.

“Simeon Miranda is part of our announced major push to increase our management bench strength at all levels in this difficult economy,” said Murray L. Dow II, (middle left photo) Dow Hotel Company president.

“With 25 years of managerial experience in the hotel industry, he is one of the most experienced all-suite hotel general managers in the business and also has extensive operating experience with upscale, full-service, branded hotels.

“In the past four months, we have added the equivalent of more than 80 years of senior operations experience to our company, and we have seen positive results with steady gains in market share,” he noted.

“Under Simeon’s leadership and his proven track record in operations, we expect this award-winning hotel to continue to excel, despite a challenging fiscal environment. We believe he will help us position the hotel for the inevitable economic rebound.”

Prior to joining the Marriott Anaheim Suites, Miranda was resident manager of the 1,241 -room Hilton Waikoloa Village, a 62-acre world-class destination resort. He has served as general manager of five different properties, including the 400-room Embassy Suites Resort, Lake Tahoe, Calif.., and the 224-room Embassy Suites/Crown Sterling Suites, Anaheim, Calif.

Miranda received his Bachelor of Science in Business Administration from Seattle University. He is a former member of the board of directors for the Kohala Coast Resort Association and is a member of the Hawaii Hotel and Lodging Association.

Located at 12015 Harbor Blvd, in Garden Grove, Calif., the Marriott Anaheim Suites is centrally positioned in Orange County, just one mile from Disneyland®, the Anaheim Convention Center, Anaheim Stadium, Crystal Cathedral and other world-famous tourist attractions.

The full-service, all-suite hotel is an AAA Three-Diamond Award winner and offers high-speed Internet access, a fitness center with state-of-the-art exercise equipment, and a pool and whirlpool. The property has an American-style restaurant, SunSpot, and a Starbucks on-site as well.

“Due to its central location and proximity to all major attractions and corporations, the hotel is ideally situated to improve its position as the market leader for business and leisure travelers to Anaheim,” Miranda noted. “Because every room is a suite, the hotel provides great price-value for both business and leisure travelers.”

Contact: Chris Daly,Vice President, Daly Gray Public Relations, 703-435-6293