Tuesday, September 22, 2009

Marcus & Millichap Names Richard Matricaria Sales Manager of Fort Llauderdale Office

FORT LAUDERDALE, Fla., Sept. 22, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Richard D. Matricaria (top right photo) sales manager of the Fort Lauderdale office, according to Gene Berman, group managing director of the firm’s Florida offices.

“Richard has extensive experience in commercial real estate as an investment specialist,” says Berman. “He will be an asset to our investment specialists, and instrumental in expanding our national market-making capabilities to clients in Fort Lauderdale and throughout Florida.”

Matricaria joined Marcus & Millichap in November 2000. He entered the firm’s sales intern program as an assistant in December 2001 and became an agent specializing in retail and office property sales in Fort Lauderdale and South Florida in 2002. Matricaria was promoted to senior associate in 2005 and was inducted as a senior investment associate in 2008.

Matricaria is a graduate of University of Alabama and received his MBA from St. Thomas University in Miami Gardens, Fla.

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

Grubb & Ellis’ Self Storage Group Facilitates Sale of Monterey Palms Self Storage in Palm Springs, CA

SANTA ANA, CA (Sept. 22, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that its San Diego affiliate, Grubb & Ellis
BRE Commercial facilitated the sale of Monterey Palms Self Storage  (centered photo below) in Palm Springs.

Monterey Palms Self Storage is an 113,000-square-foot, 645-unit self storage facility located at 73230 Varner Road in Thousand Palms. It is a newly constructed property adjacent to Interstate 10. The project opened for business in July 2007 and was approximately 50 percent occupied at closing of the deal. The buyer purchased the project significantly below replacement cost and was able to assume the existing financing, carrying very attractive terms.

Greg Wells of Grubb & Ellis BRE Commercial’s Self Storage Group represented the seller, Granite Investment Group, and used his experience in the self storage sector to work through numerous issues in closing the transaction during such a challenging economic climate.

“This transaction could not have been completed without the guidance and expertise shown by the Grubb & Ellis BRE Commercial Self Storage Group,” said John Heller, president of Granite Investment Group.
Mark Avilla and Matty Sundberg, also of Grubb & Ellis BRE Commercial, represented the buyer.

Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com

Marcus & Millichap Sells Parcel of Land in Bradenton, FL

ST. PETERSBURG, FL, September 22, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a one-acre parcel of land located in Bradenton, Fla., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $287,500.

Michael J. Jaworski, (top left  photo) an investment specialist in Marcus & Millichap’s Tampa office secured the buyer, a Pinellas County developer.

The property is located at 8605 East SR 70 in Bradenton, Florida. “This land was owned by the FDIC and was a former Freedom Bank asset” noted Jaworski. “This is one example of the growing pipeline of distressed assets from banks that have failed”, added Jaworski.

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

Verizon Building in Pensacola, FL Gets $1.6M Loan

Orlando, Florida—September 22, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on September 16, 2009, in the amount of $1,600,000 for the Verizon Wireless Building in Pensacola, Florida

Doug Rozzell, (top left photo) Company Principal, financed the Verizon Wireless Building through Thomas D. Wood and Company’s correspondent relationship with American Fidelity Assurance.

The loan term is 10 years, based on an 18-year amortization and a loan-to-value of 70%. The interest rate is 6.95%. The 3,706 square-foot single-tenant retail building was newly renovated in August 2009, and is located at 5600 N. 9th Avenue, Pensacola, Florida.

For further information, please contact:

Doug Rozzell (407) 937-0470 drozzell@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com