Wednesday, November 11, 2009
SANTA ANA, CA (Nov. 11, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Branson Edwards (top right photo) has joined the company as executive vice president, managing director of the company’s Retail Occupier Services Group, effective immediately.
Edwards brings 19 years of experience that includes executive positions in the retail and retail real estate services industries.
“Branson brings tremendous retail real estate field execution and corporate management experience,” said Jack Van Berkel, (top left photo) chief operating officer and president, Real Estate Services. “He has participated in developing and managing thousands of stores as a retailer and as a service provider. Bringing him on board is a big step toward enhancing the level of service we can provide our retail occupier clients.”
As part of his responsibility, Edwards will develop the company’s Retail Tenant Representation Practice Group, as well as recruit experienced retail corporate services and tenant representation brokerage professionals throughout the country.
Most recently, Edwards was managing director of Jones Lang LaSalle’s Retail Outsources Services. He founded retail real estate services company The Standard Group, which merged with Jones Lang LaSalle in early 2008.
The Standard Group outsourced real estate department and management functions for retailers, managing both high growth new store rollouts and existing store portfolios for clients such as T-Mobile USA Inc., Hollywood Video and Buffalo Wild Wings.
Contact: Erin Mays, Phone: 312.698.6735, Email: email@example.com
Grubb & Ellis Company Reports 2009 Third Quarter Results
SANTA ANA, CA (Nov. 11, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today reported revenue of $136.1 million for the third quarter of 2009, compared with revenue of $153.2 million for the third quarter of 2008. The company reported revenue of $385.1 million for the first nine months of 2009, compared with revenue of $468.8 million for the comparable 2008 period.
For the first nine months of 2009, the company reported a net loss of $95.7 million, or $1.51 per share, compared with a net loss of $68.0 million, or $1.07 per share, for the first nine months of 2008.
For a complete copy of the company's new release and financials, please contact:
Janice McDill, Phone: 312.698.6707, Email: firstname.lastname@example.org
ORLANDO, Fla.,— Construct Two Group has secured a $14.2 million construction management contract to build a new elementary school for Orange County Public Schools (OCPS).
The construction management company is providing pre-construction, value engineering, site construction, vertical construction and commissioning services for the Old Cheney/North Forsyth Area Elementary School. (top left rendering by SchenkelShultz Architects)
The two-story, 100,000-square-foot educational facility will be built on an undeveloped 14-acre site on Curtis Street in Orlando, Fla. The project, on a fast track 11-month schedule, is due for completion in June 2010. African American owned, Construct Two Group has reached a company record on this project with 44 percent participation for Minority/Women Owned Business Enterprises.
The educational facility is composed of administration, classrooms, art and music rooms, commercial kitchen and multi-purpose/dining room. Designed by Schenkel Shultz Architects of Orlando, Fla., this is only the second school built with this new prototype.
The Central Florida-based engineering team for this project includes BBM Structural Engineers, Longwood, for structural; Matern Professional Engineering Inc., Orlando, for mechanical, electrical, plumbing and fire protection; WBQ Design & Engineering, Orlando, for civil.
Construct Two Group has a long history building schools for OCPS. Noted projects include Jones High Phase A, B, and C, Timber Creek High, Olympia High, Dr. Phillips Ninth Grade Center, Discovery Middle, Corner Lakes Middle, Chain of Lakes Middle, and Eagle Nest, Avalon Park and Westbrooke elementary schools.
Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, email@example.com, http://www.pr-works.com/
ORLANDO, FL – Nov.11, 2009– Cushman & Wakefield of Orlando announced the sale of a 12,000 square foot downtown building located at 1230 Hillcrest Street for the headquarters of Barnes, Ferland and Associates, an engineering firm specializing in environmental engineering.
Richard Solik, (top left photo) Senior Director of C&W’s Office Brokerage Services represented the buyer in the transaction with RBO Associates. The $1,300,000 deal closed on October 30.
Barnes, Ferland and Associates has satellite offices in West Palm Beach, Miami, and New Orleans.
Contact: Brook Hines, Tel: 407-541-4401, mailto:firstname.lastname@example.org,
Uniondale, NY (Nov, 11, 2009) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $12,000,000 loan under the Fannie Mae DUS® product line to finance the 323-unit complex known as Sanctuary Apartments in Augusta, GA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.69 percent.
The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This financing represents our ongoing effort to secure long-term relationships with strong owner/operators by providing timely execution at attractive interest rates,” said Edwards. “In addition, we are pleased to acknowledge the outstanding efforts by Jackson Howard of Carolina Mortgage who arranged this financing.”
Contact: Ingrid Principe, email@example.com
WASHINGTON, D.C. – The Washington, D.C. and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have closed the sale of 1100 Campus Road, a 166,991-square-foot trophy office building in Princeton, New Jersey.
HFF executive managing director Stephen Conley, (top right photo) senior managing director Andrew Scandalios, (top left photo) managing director Andrew Weir (bottom right photo) and directors Jeffrey Julien and Elizabeth Taylor led the investment sales team exclusively on behalf of the seller, Patrinely Group and USAA Real Estate Company.
Completed in 2006, 1100 Campus Road is fully leased to Novo Nordisk, Inc. through May 2023. The five-story property has direct access to and visibility from Route 1 and is situated less than four miles from downtown Princeton in central New Jersey.
“The sale of 1100 Campus Road offered an investor the rare opportunity to acquire a trophy-quality asset that is 100% leased to an A-credit tenant for the long-term on a triple-net basis,” said Conley.
“Princeton is a core, institutional submarket that continues to attract corporate tenants and owners due to the proximity to New York and Philadelphia and its access to a highly educated labor pool,” added Scandalios.
Since 1983, Patrinely Group has emerged as a national leader in the development of large-scale real estate projects throughout the United States, in particular build-to-suit corporate headquarters and regional offices.
With more than $5 billion in assets, USAA Real Estate Company provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.
The USAA portfolio consists of office, industrial, retail, multi-family and hotel properties with annual volume transactions exceeding $3 billion. USAA Real Estate Company is a subsidiary of USAA, which has served military families since 1922 and has become one of America’s leading financial services companies.
Dividend Capital Total Realty Trust Inc., a Denver-based REIT, invests in a diversified portfolio of commercial real estate assets. As of June 30, 2009, the company owned 76 properties totaling approximately 12.5 million square feet in 26 geographic markets.
Stephen C. Conley, HFF Executive Managing Director, (202) 533-2500, firstname.lastname@example.org
Andrew G. Scandalios, HFF Senior Managing Director, (212) 245-2425, email@example.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, firstname.lastname@example.org
DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Wolflin Village, a 159,502-square-foot community retail center in Amarillo, Texas on behalf of the seller, Weingarten Realty Investors.
The HFF investment sales team was led by senior managing directors Doug Hazelbaker (top right photo) and Jim Batjer (top left photo) and managing director Ryan Shore (bottom right photo).
Dunhill Partners, Inc. purchased the property for an undisclosed amount free and clear of debt.
Wolflin Village is situated on nearly 10 acres at the intersection of Wolflin Avenue and Georgia Street in Amarillo. The property is 92% leased to tenants including Office Depot, Talbots, Starbucks, GNC and Cold Stone Creamery
Weingarten Realty Investors (NYSE: WRI) is a commercial real estate owner, manager and developer.
At June 30, 2009, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 378 developed income-producing properties and 24 properties under various stages of construction and development.
Dunhill Partners specializes in commercial real estate sales, leasing and management in Dallas and Fort Worth, Texas. Dunhill Partners currently owns and operates 29 properties totaling more than four million square feet primarily in Dallas/Ft. Worth, Austin, Houston, Louisiana and Hawaii.
T. Douglas Hazelbaker, HFF Senior Managing Director, (214) 265-0880, email@example.com
Jim C. Batjer, HFF Senior Managing Director, (214) 265-0880, firstname.lastname@example.org
Kristen M. Murphy,HFF Associate Director, Marketing, (713) 852-3500, email@example.com