Monday, May 11, 2009

Marcus & Millichap Sells 4,160-SF Single-Tenant Net-Leased Building in Bradenton, FL

BRADENTON, FL, May 11, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a CarMax Buying Center, (top left photo) a 4,160-square foot single-tenant net-leased property located in Bradenton, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,395,000.

Michael Jaworski, (bottom right photo) an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company located in Bradenton, Florida.

The buyer, who is a Pinellas County developer, was also secured and represented by Michael Jaworski.

CarMax Buying Center is located at 3808 West 14th Street, Bradenton, Florida. The property is an out parcel to Centre Pointe Commons, anchored by Lowe’s, and Best Buy.

Press Contact: Bryn D. MerreyRegional Manager, Tampa(813) 387-4700

Southern Commercial Brokers 54,250-SF Renewal/Expansion in Orlando

ORLANDO, FL.(May 11, 2009) Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden, SIOR of Southern Commercial Real Estate Advisors completed a 54,250 square foot renewal/expansion at 2126 W Landstreet Road, Orlando, Florida.

Bradford and McFadden negotiated the five year lease, representing the Landlord, GE Real Estate.

The tenant, Twin Med was represented by Deborah Mickler and Forrest Askew with Colliers Arnold.

Contact: Celeste MacKenzie, 321-281-8503

Gabriels and RealtyTrac Announce Partnership to Deliver Nationwide Foreclosure Listings Search

NEW YORK AND IRVINE, CA. – May 11, 2009 - Gabriels Technology Solutions, the leading private label e-commerce technology provider and RealtyTrac, the leading online marketplace for foreclosure properties, today announced the introduction of co-branded foreclosure search products for new media that provide a world class competitive advantage to Gabriels’ media clients for increased site activity, enhanced user experience and increased advertising revenue.

Gabriels’ technology allows for its media clients to present its users with the same foreclosure search experience whether they are searching for local real estate listings or foreclosure listings nationwide.

The more than 1.5 million RealtyTrac default, auction and bank-owned listings offered through the co-branded sites provide additional content, traffic, ad impressions, and revenue opportunities for Gabriels’ media clients.

It also extends the local reach of the media client to allow its users to search for foreclosure properties nationwide and conduct market research on foreclosure trends and sales trends.

Gabriels is the leader in providing vertical portals for over 300 media properties with such organizations as Scripps Networks, Network Communications Inc., The New York Times Company, Hearst Newspapers, Freedom Communications, Cox Newspapers, Scripps Newspapers and Lee Newspapers.

Tan Chan, (middle left photo) Chief Operating Officer of Gabriels Technology said that "the RealtyTrac co-branded site is an easy to implement revenue generating solution for real estate content that many people are extremely interested in.
" In today’s environment, foreclosures represent a significant portion of the activity in the real estate market. For Publishers, this opportunity provides multiple revenue streams without any out-of-pocket expenditure and reinforces the Publisher’s position as the real estate resource for the local market”.

“This exciting new partnership with Gabriels Technology Solutions will allow RealtyTrac to reach a wider audience of real estate buyers and investors who are searching for properties online at major media websites,” said Rick Sharga, (top right photo) senior vice president at RealtyTrac.
“This will further our mission of democratizing the foreclosure market, giving more people convenient access to view foreclosure bargains nationwide and also providing greater exposure for bank-owned properties that lenders typically want to dispose of quickly and efficiently.”
Contact: Tammy Chan Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682,

IDI Closes 29,360-SF Lease with Chadwell Supply Inc. in Austell, GA

AUSTELL, GA, May 11, 2009 – IDI, a full-service industrial real estate company, has closed a five-year, 29,360-square-foot lease with Chadwell Supply Inc., a provider of maintenance services to the multi-family housing market.

Chadwell Supply will occupy Woodlands 200, a 127,680-square-foot warehouse/distribution facility located in Austell, Ga., west of downtown Atlanta. The Tampa, Fla.-based company will take occupancy later in May and use the space for the storage and distribution of maintenance equipment and products.

IDI and JPMorgan acquired Woodlands 200 in 2006. Located at 8110 Troon Circle in Austell, the building was completed in 2001 and features minimum clear heights of 24 feet. A total of 43,769 square feet remains available for lease in the facility.

Darren Ross and Nick Faber at Grubb & Ellis represented IDI in the deal.

Based in Tampa, Fla., Chadwell Supply is a family owned business that provides maintenance supplies to the multi-family housing market. The company also operates a flooring division offering next-day installation to the multi-family and commercial markets.

About IDIWith a single focus on industrial real estate, IDI ( provides development, investment, property management and leasing services in markets across North America.

IDI’s state-of-the-art warehouse, distribution and light-manufacturing facilities enable clients to improve employee productivity, reduce operational costs and achieve global supply-chain efficiencies.

To date, Atlanta-based IDI has developed more than 125 million square feet of space valued at $5.6 billion across North America for a growing roster of international clients.

Kim Hardcastle, Jackson Spalding for IDI, 404-214-0693,
Charlotte Marie, DuPreJackson Spalding for IDI, 404-214-0693,

Arbor Closes $11M Fannie Mae DUS® Loan for Artisan Ridge Apartments in Oklahoma City, OK

Uniondale, NY (May 11, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,000,000 loan under the Fannie Mae DUS® Loan product line to refinance the 312-unit complex known as Artisan Ridge Apartments in Oklahoma City, OK.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent.

The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office.

“Arbor helped this borrower group refinance, allowing them to stabilize and improve the property,” said Porterfield. ”Arbor looks forward to growing our relationship with the borrower group.”

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

Le Méridien Cambridge Completes $7M Renovation

Guest Rooms and Lobby Receive Full Makeover

CAMBRIDGE, MA, May 11, 2009—Le Méridien Cambridge hotel (top right photo) today announced the completion of a three-month, $7 million renovation of its guest rooms and public space to enhance Cambridge’s distinct and creative contemporary hotel.

The hotel is owned and operated by HEI Hotels & Resorts.

The renovation included a total make-over of the hotel, upgrading all 210 guestrooms and the lobby, and adding Le Méridien signature touches, such as the LM Bed and the Transitional Portal, featuring the artwork of LM100 artist Younes Rahmoun (bottom left photo)

The property is Boston’s only Le Meridien hotel.

“We are incredibly excited about the completion of this multi-million dollar renovation,” said Chris Lamb, director of sales. “Formerly the Hotel @ MIT, Le Meridien Cambridge combines technology and luxury in the center of one of the world’s most intellectually stimulating cities.”

Guests may dine at Sidney’s Grille, (middle left photo) an innovative contemporary American grill that focuses on fresh local ingredients with a Mediterranean flair.

The hotel’s former library, located off the lobby, has been converted into multi-function space.

All renovated guest rooms are decorated in the traditions of architectural detail from its European residential style origins combining elements of design with classic sensibility.

Each guest room will feature flat-panel televisions, personal safes, Wi-Fi Internet access and luxury bedding. Meeting space was outfitted in a modern, contemporary style. With 7,800 square feet of state-of-the-art meeting space, the hotel can serve groups of up to 250 people.

The hotel’s 8,000 square-foot Roof Top Garden offers stunning views of the city and adjacent MIT campus and is equally well suited for weddings, social events and business meetings.

More than 2,000 square feet of adaptable loft space was renovated to highlight Le Méridien’s curated Unlock Art program, which will allow guests complimentary access to the nearby MIT Museum.

Located in the heart of University Park at MIT, (bottom right photo) the premier, award-winning office, high-tech and biomedical complex, and a short walk from Harvard Square, the property features 210 rooms, including 14 suites, 7,700 square feet of state-of-the-art meeting space, a full-service restaurant, a terrace garden for outdoor functions and a fitness center.

The property is known for a distinctive guest experience, underscored by the attention to guest service and details.

About Le Méridien Hotel Brand

One of the latest additions to the Starwood family of brands, Le Méridien is a European-inspired brand comprised of luxury and upscale, full-service hotels, resorts and residences.

Each of its hotels, whether city, airport or resort, has a distinctive character driven by its individuality and the Le Méridien brand values.

With its underlying passion for food, art and style and its classic yet stylish design, Le Méridien offers a unique experience at some of the world’s top travel destinations.

For more information, visit

About HEI Hotels & Resorts
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment firm that acquires, develops, owns and operates full-service, upper-upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Méridien, Embassy Suites, and Hilton.

For more information about HEI, please visit the company’s website,

Jess Petitt, HEI Hotels & Resorts, (203) 849 2228
Jerry Daly, Chris Daly, (Media, (703) 435-6293