Tuesday, May 19, 2009

CB Richard Ellis Orlando Wins Five CoStar Awards

ORLANDO, FL, May 19, 2009 – The Orlando office of CB Richard Ellis is pleased to announce five Power Brokers Awards from the CoStar Group. CB Richard Ellis was awarded Top Leasing Firm and Top Sales Firm.

Chris Sproles (top right photo), First Vice President, and John Gilbert, (top left photo) Senior Vice President, accepted Top Office Leasing Broker Awards.

Jorge Rodriguez, (bottom right photo) CCIM, Senior Associate, was awarded Top Retail Leasing Broker for a second consecutive year.

Lastly, Shelton Granade,(bottom left photo) First Vice President, and Luke Wickham, (bottom right photo to left of Jorge Rodriguez photo) Director of Operations, also received Top Sales Broker Awards as they maintained their position as the top apartment sales team in Central Florida.

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

Arbor Closes $4,950,000 Fannie Mae DUS® Loan for Ridgegate Apartments in Dallas, TX

UNIONDALE, NY (May 19, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,950,000 loan under the Fannie Mae DUS® Loan product line for the 270-unit complex known as Ridgegate Apartments in Dallas, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.63 percent.

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

“Arbor provided this property acquisition financing against a fairly tight closing timeline and amid continued volatility in the market,” said Porterfield.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/

19-Year Industry Veteran William J. Morris Joins Grubb & Ellis Company's Los Angeles South Bay Office

LOS ANGELES (May 19, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that 19-year commercial real estate veteran William J. Morris (top right photo) has joined its Los Angeles South Bay office. He will serve as senior vice president in the company’s Investment Services Group.

Morris will be responsible for assisting institutional and private capital clients in advisory, evaluation, marketing and transaction management. He specializes in multifamily and commercial properties.

Morris brings to this position a strong background in numerous aspects of commercial real estate, which includes brokerage, finance, syndication, construction, renovation and property management. He has been involved in transaction sales in excess of $150 million dollars, including the sale of more than 3,000 apartment units.

“Bill is an experienced commercial real estate broker and I expect his keen sense of judgment and wide skill set will help Grubb & Ellis expand its multi-family presence in the LA market,” said Chuck Hunt, executive managing director of Grubb & Ellis’ Los Angeles area operations.

Neenah Paper Picks Grubb & Ellis to Sell 332,400-SF Industrial Complex in Ripon, CA

STOCKTON, CA, (May 19, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Neenah Paper Inc. has selected the company to market for sale its 332,400-square-foot industrial facility in Ripon. The property is co-marketed by Bryce MacDonald, senior associate of Grubb & Ellis’ Stockton office, and Tim Pryor of Mid Cal Industrial Properties.

Located at 942 S. Stockton Ave., the property consists of four buildings on roughly 150 acres of land. The space is split between a 200,000-square-foot manufacturing building, a 100,000-square-foot distribution center and two storage sheds comprising 32,400 square feet.

“This is a unique site that offers an opportunity to a wide variety of prospective users, including the ability to reuse the site for alternative energy production,” said MacDonald. “The large amount of acreage in San Joaquin Valley, which boasts an excellent infrastructure, makes this an attractive acquisition for potential buyers.”


Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com
Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com

Developer’s national collection campaign nets more than 2,000 phones in 17 cities

MALVERN, PA – May 19, 2009 – Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages nearly 2.5 million square feet of office and industrial properties in Jacksonville, today announced that 86 cell phones were collected during its “Cell Phones for Soldiers” Earth Day Campaign during the week of April 20.

“Our tenants and their employees came out in force to support Cell Phones for Soldiers, and their efforts will make a real difference in both the lives of armed forces personnel serving overseas, and to our planet,” said Mike Heise, (top right photo) vice president and city manager, Liberty Property Trust.

“Their contributions resulted in the donation of 5,160 minutes of ‘talk time’ to these servicemen and women, and kept toxic components such as arsenic, beryllium, cadmium, copper, and lead out of landfills.”

Liberty hosted the program in 17 cities nationwide, collecting 2,021 cell phones. These phones will be shipped to Cell Phones for Soldiers in the coming days.

Cell Phones for Soldiers was founded by teens Robbie and Brittany Bergquist from Norwell, Mass., with $21 of their own money. The registered 501c3 non-profit organization has raised almost $2 million in donations and distributed more than 500,000 prepaid calling cards to soldiers serving overseas.
Margo Hunt Winans, a.s.a.p.r. public relations & marketing, 757/404-8653, margo@asapr.comhttp://www.asapr.com/

General Inquiries: Mike Heise, Liberty Property Trust, 904/296-1776

C&W retail broker Mindy Boehm announces 6 lease transactions

ORLANDO, FL ––Cushman & Wakefield Retail Brokerage Associate Director Mindy Boehm (top right photo) announced five commercial leases and a lease renewal in the Orlando MSA.

Coco Moka Café, Inc leased Suite 103 in The Lighthouse Plaza at 6400 International Drive, for an upscale coffeehouse that will feature salads, sandwiches and desserts in addition to Seattle’s Best coffee. Ms Boehm represented the landlord, GBHR Corporation, in the 5-year deal for 1,100 sf formerly occupied by Starbucks.

Ms Boehm represented the tenant, National University, in the 3-year lease for 1,700 sf at Site 125 in SODO, (middle left photo) the new mixed-use development south of downtown anchored by Super Target. National University will open an admissions office at the site.

Morse Enterprises Limited leased 1,200 sf at Suite 207, 1155 Louisiana Avenue in Winter Park, near Park Avenue. Ms Boehm represented the tenant in the 3-year agreement for the corporate offices of plant nutrition company, Keyplex. Emerson International is the landlord.

Three Nenas Bakery and Deli leased 1,400 sf in Ambersweet Plaza for a new restaurant. Ms Boehm represented the landlord, Berry Town Plaza LLC in the 3-year agreement.

Hunt Club Cleaners renewed their lease of 1,500 sf in The Shoppes at Hunt Club, committing to another five years. Ms Boehm represented the landlord in the transaction.

Boehm negotiated a 5-year lease, representing the landlord, Berry Town Center, LLC, in a transaction that brings a new Sherlock’s European Café to Davenport.
Specializing in authentic British tea, organic light fare, desserts baked on premises, and hand-crafted "conversational beers," the restaurant occupies 1,400 sf at 113 Ambersweet Way in the Berry Town Center.

Contact: Brook Hines, 407-541-4401, brook.hines@cushwake.com

Cushman & Wakefield-Orlando embarks on environmental initiatives

ORLANDO, FL-– As the first real estate services firm in the country to commit to environmental Best Practices under a formal agreement with the U.S. Environmental Protections Agency (EPA) Cushman & Wakefield sent a powerful message that they mean business when it comes to greening commercial real estate practices.

The Orlando branch of C&W is keeping step with this national policy by instituting a number of green initiatives to enhance energy efficiency, improve resource management, and reduce the carbon footprint of their offices.

C&W-Orlando has initiated three local sustainability projects:

1. Sponsoring associates who wish to seek the U.S. Building Council’s Leadership in Energy and Environmental Design (LEED) Professional Accreditation;
2. Identify and transition into new sustainable offices;
3. Forming a local "Green Team" responsible for compliance with corporate sustainability goals, as well as initiating creative sustainability practices for the Orlando office.

Already, the LEED sponsorship program has produced results. C&W Industrial Director Lee Morris (top left photo) received LEED AP certification through this program, earning his designation late last month.

"LEED practice is just good business practice," says Morris. "Optimizing efficiencies builds stronger, more profitable businesses, with the end result being less waste and higher sustainability."

While many view sustainability practices as something to achieve after the economy improves, Morris says that now really is a great time to identify ways to improve your business’ efficiency.

"We’re in the process of establishing baselines for our clients which has allowed us to identify a lot of ‘low hanging fruit’ providing immediate, low-cost value. As the economy improves, we can evolve these efficiencies into initiatives that are higher-cost, with a higher return on investment," Morris said.

Other C&W-Orlando associates scheduled to complete their accreditation include Project Manager Tracy Thom-Palumbo who works with clients on construction, renovation and build-outs. Office Associate Betsy Owens and Portfolio Manager Michael Agnew also plan to seek LEED certification.

Contact: Brook Hines, Tel: 407-541-4401, brook.hines@cushwake.com

New Bastion Development, Inc. To Purchase 757 Acres in Jackson County, FL

FORT LAUDERDALE, FL /PRNewswire-FirstCall/ -- New Bastion Development, Inc. ("New Bastion") (OTC Pink Sheets: NWBA); a real estate company that was formed for the purpose of exploiting local real estate opportunities in the Panama City Beach/Marianna, Florida area,(top left photo) announced that it had entered into an agreement with a local timber company to purchase a 757 acre tract of land just east of Hwy. 231 in Jackson County, Florida.

The transaction is subject to a short due diligence period and is scheduled to close in 60 days.

"We believe that Jackson County, Florida offers our company a tremendous opportunity," stated Elliot Bellen, CEO of New Bastion.

"Its magnificent beauty and proximity to the beautiful, white, sandy, Gulf coast beaches of Northwest Florida coupled with the imminent opening of the

new Panama City international airport in May 2010 should create tremendous demand in the region for decades to come.

"New Bastion intends to be a major participant in this growth, and we feel that this property will provide us with excellent development opportunities."

CONTACT: Michael Queen, +1-302-998-8824, for New BastionWeb Site: http://www.newbastiondevelopment.com/

Entrust Administrative Services to Launch Sunday Morning Radio Program to Advise Small Investors on “Capital Ideas”

LAKE MARY, FL- Entrust Administrative Services, which administers more than 2,000 self-directed retirement accounts with a net worth of more than $200 million from offices in Lake Mary, Jacksonville and Boca Raton, is sponsoring the launch of “Capital Ideas,” a one-hour radio program on WORL-660 AM to advise small investors on new investment opportunities.

Glen Mather, (top right photo) president of Entrust Administrative Services, said he plans to host special guests and investment experts to talk about alternative investment opportunities.

The program will kick off Sunday, May 31 at 9 a.m.

“Most investors are familiar with stocks and bonds and we’ll touch on those topics, but we plan to focus on the sorts of alternative investment opportunities that can be overlooked by many investors,” Mather said.

Mather said Capital Ideas will capture the real power of American capital in today’s economy.

“With all the attention on bailouts and macro economics, we’ve overlooked the most important element in our financial system, the millions of small investors who have worked hard all their lives and now hold the power to save the U.S. economy,” Mather said.

“Capital Ideas will celebrate their new power in this economy and analyze ways they are rebuilding the American economic system from the grassroots right up to the power centers,” he said.

For more information please contact:

Glen Mather, President , Entrust Administrative Services, Inc., 407-367-3472 gmather@entrustfl.com;

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

Place Properties Enters Into Its Newest Third Party Management Contract at the Villas on Guadalupe in Austin, TX

ATLANTA, GA /PRNewswire/ -- Place Properties, a diversified real estate company with expertise in financing, developing and managing award-winning housing communities and facilities for the university and military markets, continues to expand its presence in the third party management business.

Place Properties has assumed management for the Villas on Guadalupe, (top right photo) a 343 bed student housing community serving the students of the University of Texas (bottom left photo) at Austin.

The asset manager, Rreef, is a real estate investment company out of Chicago.

Peggy Daly, Executive Vice President of Property Management, said, "Our management group has positioned itself to selectively grow its third party management business in 2009.

"The Villas at Guadalupe is our newest addition and is a great example of an asset that fits well within our portfolio both in location and quality."

Villas on Guadalupe offers a convenient location to West Campus with first class amenities including a resort-style swimming pool with hot tub, state-of-the-art fitness center, tanning beds, clubhouse with WIFI, and organized resident social activities.

The apartments are fully furnished and every bedroom is wired for high-speed internet. Complete details of the lifestyle offered at Villas on Guadalupe can be found at http://www.smartstudentliving.com/.

Place Properties, LP, has over 10 developments in various stages of construction nationwide, making it one of the largest multifamily development and construction organizations in the country.

Place Properties has developed more than $800 million of student and military housing properties since 1996, and currently manages more than 17,000 beds.
Contact: Jessica H. Nix, National Director of Marketing, 404-495-7591 jnix@placeproperties.com
Web Site: http://www.placeproperties.com/

Tampa Office Vacancy Rises to 17.2 Percent

TAMPA, FL--Randy Smith, regional director of research, GVA Advantis, Tampa, reports the dip in Tampa’s office market continued during the opening period of 2009 with its sixth straight quarter of negative net absorption.

Tepid leasing activity combined with a bump in new supply pushed Tampa’s direct vacancy rate 90 basis points higher in the first quarter to close at 17.2 percent.

Sublease space within Tampa’s office inventory remained just below the two-percent threshold, but will be difficult to contain as businesses continue to “right-size” in step with the slowing national economy.

Face rent retreated only slightly in the first quarter, averaging $22.56 per square foot for Tampa’s available space.
In the current economic environment, credit-worthy tenants are prized by landlords and they have tremendous clout in lease negotiations.
A number of tenants in this category have seized the opportunity to upgrade into fresh office space and heightened migration from class B to class A buildings has been evident in the Tampa market.

In its recent past, Tampa has enjoyed a vigorous job market with annual growth averaging 4.3 percent in 2004 and 3.5 percent in 2005. While it will be difficult to achieve those levels in the near term, Tampa is well positioned for long-term growth. Improvement will be evident later this year and will set the stage for a stabilized market going into 2010.

For a complete copy of the news release and first-quarter office market report, please contact:

Randy Smith, MBA, Regional Director of Research, Advantis Real Estate Services Company,
3000 Bayport Drive, Suite 100, Tampa, FL 33607
Tel 813.342.4725. Fax 813.372.4004. E-mail rsmith@gvaadvantis.com