Tuesday, March 16, 2010

Walgreens Gets $2M Loan for Hawaiian Court Store in Orlando

ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 3, 2010, in the amount of $2,000,000 for Walgreens at Hawaiian Court in Orlando, Florida.

Steven Hayes Wood, Company Chief Operating Officer, along with Mike Daspin of United Financial of America, financed Walgreens at Hawaiian Court through Thomas D. Wood and Company’s correspondent relationship with Woodmen of the World Life Insurance Company.

The fully-amortizing loan has a term of ten years and an interest rate of 6.125%. The loan-to-value is 37% and loan-to-cost is 36.25%. Walgreens at Hawaiian Court is a 13,677 square foot retail building, built in 2010, and located at 9858 International Drive, Orlando, Florida.

For further information, please contact:
Steven Wood (305) 447-7836 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

Jim McFadden and Greg May Named Co-Leaders of Grubb & Ellis's Orange County Offices in California

NEWPORT BEACH, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  has promoted Jim McFadden (top right photo)  and Greg May (middle  left photo)  to serve as co-managing directors of the company’s Orange County offices, effective immediately.

A 24-year veteran of Grubb & Ellis’ Anaheim office, McFadden was previously senior vice president, Industrial Group. May joined the company’s Newport Beach office in 2005 as senior vice president, Office Group. McFadden and May will be primarily based in Anaheim and Newport Beach, respectively.

“Jim and Greg bring considerable industry experience and strong local relationships to their new roles,” said Chuck Hunt, (bottom right photo) executive managing director, Southern California. “Although there are many similarities between the two, their complementary backgrounds will position Grubb & Ellis well for continued growth.”

McFadden began his commercial real estate career in 1986. During his tenure with the company, he has been ranked as a Top 10 producer multiple times, the No. 1 producer of the industrial division locally and as a Top 100 producer of the industrial division nationally.

 He is also a member of the President’s Council, a select group of professionals who have been recognized for their strong commitment to service excellence, personal and professional development and dedication to the future growth of Grubb & Ellis. He holds a bachelor’s degree from the University of California, Santa Barbara and is a member of NAIOP.

May has more than 20 years of commercial real estate experience, primarily within the Southern California market. During his nearly five years with Grubb & Ellis, he has been ranked as one the of top Office professionals locally.

Prior to joining the company, May served as vice president of Maguire Properties and as senior vice president of Transwestern Commercial Services. He began his career in commercial real estate with CB Richard Ellis in 1985 where he escalated to vice president.

He holds a bachelor’s degree from the University of Southern California, is a member of NAIOP and serves as chairman of the South Coast Metro Alliance Brokerage Group.


Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com
Julia McCartney,  714.975.2230,  julia.mccartney@grubb-ellis.com