Tuesday, December 8, 2009
ROSEMONT, IL (Dec. 8, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it facilitated the sale of 2900 Golf Road in Rolling Meadows to Jani-King.
The purchase price for the 48,000-square-foot office building was not disclosed.
Jani-King will move its operations to the new facility in the first quarter of 2010 from 1701 E. Woodfield Road, where it was previously a long-term lessee. The commercial cleaning company will occupy approximately 15,000 square feet and plans to market the remaining 33,000 square feet for lease.
In addition to the 48,000 square feet of office space, the building has a 28,000-square-foot basement. The sale also included an adjacent 3.5-acre parcel of land.
Erin Mays, Phone: 312.698.6735, Email: firstname.lastname@example.org
Built in 1983, Omni Apartments is located at 1008 E. 109th Ave. Tampa, FL. The property was constructed of wood frame and concrete block and offers 32,994 rentable square feet. The apartment community consists of 47 two and three-bedroom units that are 702 square feet.
Mandy Force, Franklin Street Real Estate Services, 5420 Bay Center Dr. Suite 100, Tampa, Florida 33609 Phone: 813.839.7300, Fax: 813.839.7330, http://www.franklinstreetfinancial.com/
Grubb & Ellis Commercial Florida Negotiates $250,000 Sale Price for Retail Building in Melbourne Beach, FL
MELBOURNE, Fla. --- Grubb & Ellis Commercial Florida, associated with 130 offices worldwide, recently negotiated the sale of a 3,470 square foot retail building at 317 Ocean Ave. in Melbourne Beach for $250,000.00.
Cheryl Harrington, (top right photo) vice president of retail development for Grubb & Ellis Commercial Florida in the Melbourne region, negotiated the transaction representing the seller, Nueva Guinea S.A. of San Jose, Costa Rica.
Laura Dowling-Roy of Melbourne bought the property that includes 1,920 square feet of space built in 1964 and another 1,550 square feet of newer, partially finished space.
Cheryl Harrington, VP Retail Development, 2108 W. New Haven Avenue, West Melbourne, FL 32904, 321.984.1957
Larry Vershel or Beth Payan, email@example.com
Grubb & Ellis Commercial Florida negotiates expansion lease for Morgan & Morgan Law Firm at Tampa City Center
TAMPA, Fla. – Mia Jarrell, (top right photo) vice president of Grubb & Ellis Commercial Florida’s Office Group, recently negotiated a long-term expansion lease agreement for 7,386 square feet of Class A office space at 201 N. Franklin Street in Tampa City Center (bottom left photo).
Jarrell, a CBD specialist, negotiated the lease with landlord, Mainstreet Capital Partners of Fort Lauderdale, on behalf of the tenant Morgan & Morgan Law Firm, who already leased 32,000 square feet, and now occupies a total of 39,386 square feet on the sixth and seventh floors of the building.
Mia Jarrell, 813-639-1111
Jeffrey Sweeney, 407-481-5387
Larry Vershel , 407-644-4142
Posted by Alex at 1:14 PM
HOUSTON, TX – The Houston and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have been named to market for sale Hock Plaza I at Duke University,(middle right photo) a 327,162-square-foot Class A office building in Durham, North Carolina.
HFF senior managing directors Jeff Hollinden (top right photo), Glenn Whitmore (top left photo) and Andrew Scandalios (bottom right photo) , along with associate director Barbara Guffey, (bottom left photo) will lead the investment sales team on behalf of the seller, Brickman.
Completed in 2004, Hock Plaza I has 12 floors of office space plus an attached 1,100-space parking garage.
The property is 98.4% occupied under long-term leases by Duke University and Duke University Healthcare Systems. The 2.5-acre site is located at 2424 Erwin Road immediately adjacent to the Duke University campus and the “world-renowned” Duke Medical Center.
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, firstname.lastname@example.org
The Shooshan Company is handling the development of the property, which was designed by RTKL. Clark Construction Group is the general contractor.
“A truly collaborative effort between the State of Virginia, Arlington County, the GSA and the ownership has enabled this landmark project to commence construction despite the difficult capital markets environment,” said Asbill.
“The R-B Corridor is the primary ‘Inside the Beltway’ office submarket in Northern Virginia and is truly an extension of Washington, D.C.,” added McIntyre. “The Founders Square site is one of the last great development sites in this area and the DARPA headquarters building will serve as an important anchor for its continued development.”
“Especially in these difficult and challenging conditions, we are grateful to our existing and new clients who continue to show their confidence in our ability to create and execute viable solutions for them, as evidenced by nearly 30 separate capital markets transactions that our Washington, D.C. office has closed over the course of 2009,” added Duffy.
Formed in 1986, The Shooshan Company has planned, developed, managed and/or leased approximately 2.5 million square feet in the Rosslyn-Ballston Corridor. Projects include One and Two Liberty Center, The Residences at Liberty Center, Liberty Tower, Arlington Square, One Virginia Square and Quincy Street Station.
William S. Asbill, HFF Senior Managing Director, (202) 533-2500, email@example.com
Daniel J. McIntyre, HFF Director, (202) 533-2500, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, email@example.com
Milam joined Marcus & Millichap in December 1999. He was promoted to associate in 2001 and earned senior associate status in December 2002.
Milam advanced to senior investment associate in July 2005 and vice president investments in January 2008. He specializes in the sale of multifamily properties and currently serves as a director of the firm’s National Multi Housing Group. Milam has received numerous sales achievement awards from Marcus & Millichap, including five National Achievement Awards.
Contact: Stacey Corso, corporate communications, firstname.lastname@example.org
ALBANY, OR– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.4 million loan to refinance Albany Meadows Apartments, (top left photo) a 127- unit garden-style multifamily apartment building in Albany.
Bradley Willson, a director in the firm’s Newport Beach office, arranged the financing for the building.
“We have a longstanding relationship with the lender and they were willing to take the time to understand the nuances of this transaction and move forward when perhaps other lenders would not have,” says Willson. “The fully renovated property is just beginning to demonstrate stabilized operations. By engaging in negotiations prior to the application and during the loan process, we are able to achieve the goals of the borrower and satisfy the lender.”
The loan, a refinancing of a construction/bridge loan, is a 10-year fixed-rate loan with a 30-year amortization, a loan-to-value of 77.5 percent and a 5.58 percent interest rate.
Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716