Friday, October 16, 2009

Stop & Shop and BJ’s-anchored Massachusetts retail center receives $10M refinancing arranged by HFF

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $10 million refinancing for Speedway Plaza Shopping Center, (bottom centered photo  a 185,279-square-foot retail center in Westborough, Massachusetts.

HFF managing director Jim Cadranell  (top right photo) worked exclusively on behalf of Regency Centers to secure the five-year, fixed-rate loan through Commerce Bank & Trust of Worcester, Massachusetts. Regency Centers is a publicly-traded, national developer, owner and operator of grocery-anchored and community shopping centers.

Speedway Plaza is located at 290 Turnpike Road (State Route 9) on a 32.10-acre site close to State Route 20 and Interstate 495 in Westborough, approximately 29 miles west of Boston. The fully leased property is anchored by Stop & Shop and BJ’s Wholesale Club.

“We were pleased to utilize our national network of capital relationships on behalf of Regency Centers to identify the ideal local lender that recognized the long-term value and stability of Speedway Plaza,” said Cadranell.


James A. Cadranell, HFF Managing Director, 973) 549-2000,
 Kristen M. Murphy, HFF Associate Director, Marketing, ( (713) 852-3500,

Emerson International Reports Three New Lease Agreements Totaling 5,415 SF of Office Space

ALTAMONTE SPRINGS, FL. --- Emerson International, which is developing CenterPointe Office Park (centered  photo below) on CenterPointe Circle off E. Central Parkway in Altamonte Springs, recently negotiated two new long-term lease agreements that total 4,023 square feet of office space.

Eric J. Emerson, vice president and general manager of Emerson International, said Peabody Research Corp. leased 1,800 square feet of space at CenterPointe Office Park and AWC, Inc. leased 2,223 square feet.

Sean Westcott, director of leasing at Emerson International, negotiated both lease agreements representing the landlord.

Westcott negotiated a third lease agreement at SanLando Center, located on West S.R. 434 in Longwood, where Starboard Consulting, LLC, leased 1,392 square feet of office space.

For more information about this press release, contact:

Eric J. Emerson, Vice President / General Manager,  Emerson International, Inc. 407-834-9560;

Larry Vershel or Beth Payan,  Larry Vershel Communications 407-644-4142

Arbor Closes $18M Fannie Mae DUS ® Loan for Saucon View Apartments in Bethlehem, PA

UNIONDALE, NY (Oct.r 16, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $18,000,000 loan under the Fannie Mae DUS® Loan product line for the 198-unit complex known as Saucon View Apartments in Bethlehem, PA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.06 percent.

The loan was originated by Edward Petti, (top left  photo) Director, in Arbor’s full-service New York, NY lending office. “The borrower was looking for a quick closing and a smooth due diligence process,” said Petti. “Arbor delivered on that request, closing in 50 days.”

Contact:  Ingrid Principe, P: 516.506.4298, F: 516.542.2555,, Follow us on Twitter @ arbor1

Cousins Properties Declares Fourth Quarter Common and Preferred Stock Dividends

ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a quarterly dividend of $0.09 per share, payable December 11, 2009, to common stockholders of record as of October 26, 2009. The dividend will be payable in a combination of cash and shares of the Company’s common stock with the cash component of the dividend not to exceed 33.34% of the aggregate dividend amount.

“The Fourth Quarter dividend of 9 cents per share is consistent with last Quarter’s dividend level, after adjusting for our recent stock offering and making a conservative estimate of interest savings that will result from the proceeds of the offering,” said Jim Fleming, (top right photo)  Cousins’ Chief Financial Officer. “This level still appears appropriate going forward, based on our expected taxable income in 2010.”

The Board of Directors declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable November 16, 2009, to Series A preferred stockholders of record on November 2, 2009.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable November 16, 2009, to Series B preferred stockholders of record on November 2, 2009.

Contact: Cameron Golden, 404-407-1984,,

Marcus & Millichap Names Travis Prince Senior Associate in Tampa Office

TAMPA, FL, October 12, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Travis Prince (top left photo) a Senior Associate in the firm’s Tampa office, according to Bryn D. Merrey, (bottom right photo) Regional Manager of the Tampa office.

“Travis has extensive experience in commercial real estate as an investment specialist and as a member of the firm’s National Multi Housing Group,” states Merrey. In 2006 he teamed up with Dorothy Jackman and has been instrumental in helping to run the firm’s student housing division.

“By understanding the challenges and choices that his clients encounter, Travis is able to help formulate a strategy for maximizing value and mitigating risk,” added Merrey.

Prince joined Marcus & Millichap in August 2006, and was promoted to Associate in July 2007. In 2008 he was a recipient of the company’s Sales Recognition Award.

Prince currently holds real estate licenses in both Florida and North Carolina and is also a member of the National Multi Housing Council.

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

Orlando Business Development Center Welcomes Clients to New and Improved Space at Colonial Drive Facility

ORLANDO – Clients at the University of Central Florida Business Incubation Program’s Orlando Business Development Center are busy getting settled into the newly renovated offices at 3218 E. Colonial Drive, which debuted recently.

The OBDC, a partnership between the City of Orlando and the UCF Business Incubation Program, opened nearly two years ago in the 2,400 square foot office across from Fashion Square mall with plans to eventually take over a neighboring office of nearly 4,000 additional square feet.

The move – Phase II of the original plan for the busy center – is a much anticipated one for existing clients, new clients and those moving from other incubator locations, as well as for Melissa Wasserman,  (top right photo) the OBDC site manager.

“It’s something that has been in the planning stages since the inception of the center,” said Wasserman, who recently was named site manager for the center after serving as interim manager for the past six months. “We are very excited to be transitioning into the larger space which will allow us to serve more clients.”

The center’s current residents – Social Security Advocates, OC Grant Consulting Associates, SeaQuarius and Therigy – have been joined by Perceptive Technologies, VideoProof, MyDocHub, Excelsior Communications, MTK Sports Training LLC and Learn to Learn.

OBDC is one of six such facilities in the university’s Business Incubation Program. Others are in Seminole and Lake counties, and throughout Orange County.

The Incubation Program serves approximately 70 full-time client companies and provides a wide range of services, including affordable office space, as well as access to a receptionist, a site manager, business mentors, educational classes and necessary business equipment like multi-line phones, FAX and high-speed Internet. The center also has one virtual client, who may utilize all of the services with the exception of actual office space.

For more information about this release, please contact:

Melissa Wasserman, Site Manager/OBDC, UCF Business Incubation Program, 321-281-8384 or

Thomas O’Neal, (bottom left photo) Executive Director, UCF Business Incubation Program, 407 882-1120,

Charlene Hager-Van Dyke or Larry Vershel, Larry Vershel Communications, 386-532-8862, 407-644-4142  or