Wednesday, May 19, 2010

Champion Real Estate Co. Looks to Acquire $500M in Retail Properties

LOS ANGELES, CA, MAY 19, 2010 — Champion Real Estate Company, one of the West Coast’s premier commercial real estate developer and investors, announced today that its retail division is looking to acquire $500 million in retail real estate in the Western United States in the next three years.

Spearheading the initiative is 25 year industry veteran Steve Boss  (top right photo) who was hired as the firm’s new Managing Director of retail investment and development.

Boss was formerly the CEO and founder of Afton Property Investment Corporation and held senior management positions with Pan Pacific Retail Properties and Combined Properties.

 He will focus his attention on using the company’s platform to acquire existing centers with value add opportunity; distressed assets and notes; and prime entitled shopping center land. The company will consider opportunities in core markets ranging in price from $10 million to $200 million.

“We are confident we are close to the bottom of the market and now is the best time to acquire real estate,” said Bob Champion, (lower left photo)  president of Champion Real Estate Company. “Steve has the experience and knowledge to help us succeed in this opportunistic time.”

Based in Los Angeles, Calif., Champion Real Estate Company has developed, renovated or repositioned over $700 million in retail, office, multi-family and mixed-use properties in top tier, urban locations since 1987.

Our projects have received national recognition for their excellence including a NAHRO award for one of our public-private partnerships, multiple ICSC Maxi Awards for our shopping centers, multiple Builder Magazine Gold Nugget awards for our multifamily, mixed-use and transit oriented projects and an award from the California Historic preservation Society.

For more information, please visit http://www.championrealestatecompany.com/.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

Melrose-Sovereign Companies to Manage Villas of Turnberry Trace in North Port, FL


ORLANDO – Melrose-Sovereign Companies, which ranks as one of the largest residential community management firms in the Southeast, was recently awarded a contract to manage the Villas of Turnberry Trace (top left photo) in North Port off U.S. 41 and I-75.

Jack B. Hanson, LCAM, and Ellen Lumpkin (bottom right photo), LCAM, co-founders and partners at Melrose-Sovereign Companies said Turnberry Trace will include some 60 villa homes at build out.

Headquartered in Orlando, Melrose-Sovereign Companies has eight offices throughout the state including an office recently opened in Daytona Beach.

For more information, contact:
Robin Travers, Melrose-Sovereign Companies, 407-228-4181, rtravers@melrose-sovereign.com;
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com;
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com

Grubb & Ellis Commercial Florida Negotiates $250,000 Sale Price for Office condominium at Northwood in Clearwater, FL


TAMPA – Grubb & Ellis/Commercial Florida, which is associated with 130 offices worldwide, recently negotiated the $250,000 sale price for a 2,922 square foot office condominium at 2535 Landmark Drive in the Northwood Plaza Office complex (top left photo)  in Clearwater

Chuck Bohac, vice president of Land Services at Grubb & Ellis Commercial Florida, negotiated the transaction representing the seller, Northwood Office Condominium Inc. of Coral Springs, Fla. LMM Northwood, LLC, is the buyer.

Northwood Plaza Office Condominiums, located off McMullen Booth Road, has condominiums available within the office complex ranging in size from 1,090 to 12,354 square feet.

CONTACTS:
Chuck Bohac, Vice President 813-639-1111;
Jeffrey Sweeney, President 407-481-5387;
Larry Vershel Communications 407-644-4142

Marcus & Millichap Brokers $25.5M Whole Loan Sale in New Jersey

ELMWOOD PARK, N.J., May 19, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, served as real estate advisor to Hartz Mountain Industries in connection with its acquisition of a multifamily housing portfolio in Bergen County, through the purchase of a $25.5 million whole mortgage loan.

“Through Marcus & Millichap’s Special Asset Services (SAS) division, we have been successful in representing the real estate interests of both lenders and real estate investors in these transactions,” says Michael J. Fasano, (top right photo)  vice president and regional manager of the New Jersey office.

The New Jersey office of the SAS division has developed strong relationships with lenders across the state to assist in the evaluation of commercial real estate collateral securing whole mortgage loans. Eight senior agents, including Jeff Oram, (middle left photo) Nat Gambuzza and Kevin McCrann, comprise the SAS division in New Jersey.

Oram, a director of the firm’s National Office and Industrial Properties Group, Gambuzza, a vice president investments, McCrann, a senior associate, and associate Thomas McConnell also in the New Jersey office, collaborated on the transaction. The buyer was Secaucus based Hartz Mountain Industries, Inc.

The four-property garden-style apartment portfolio includes the 56-unit Madison, the 71-unit Stanford Court and the 103-unit Coventry Square in Westwood; and the 46-unit Village on the Green located in River Vale.

Oram and Gambuzza served as the lead real estate advisors to the senior lender.

“Marcus & Millichap’s in-depth knowledge of the New Jersey commercial real estate market, together with the specialization of the SAS division and national expertise in multifamily sector, has positioned the firm as a leading advisor to New Jersey community banks with REO and pre-REO evaluation and decision making,” says Fasano.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

A.D. Owens Construction Renovation Project in Orlando Wins Golden Brick Award


ORLANDO, Fla., May 18, 2010 — The renovation of the historical 60 N. Court Avenue building (top left photo)  completed last May by A.D. Owens Construction Corp. has won the Golden Brick award in the category of interior projects for the owner, Old Florida National Bank.

A.D. Owens Construction performed the work under a design-build contract with the owner.

The fa├žade of the 1920s building was kept intact and the first two floors of the three-story, 12,000-square-foot structure were renovated. The result is a ground level retail bank and second floor office space, in what has since become the headquarters of Old Florida National Bank. Hunton Brady Architects provided the design.

The Golden Brick award program sponsored by the Downtown Orlando Partnership honors projects that affect the Downtown Development District and contribute significantly to the City’s quality of life.

“This award is special to our team because it recognizes the value of bringing new life and vitality to one of Orlando’s historical gems,” said Andy Owens, president, A.D. Owens Construction.

Originally founded in 1962 as the Downtown Orlando Council Inc., the Downtown Orlando Partnership is an organization dedicated to enhancing the quality of life and economic development of downtown Orlando.

The association has more than 300 member companies. For additional information, visit www.downtownorlandopartnership.com.

A.D. Owens Construction Corp. was founded by construction industry executive Andrew Owens in 2007.

Headquartered in Orlando, Fla., the Company provides construction management, general contracting and design build services for new construction, renovations and tenant interiors for commercial projects throughout Central Florida.

Please visit http://www.adowens.com/ for additional information.

Contact: Elaine Ingra, 407-384-1344, elainei@pr-works.com

Palmer Electric wins new infrastructure contract for hospital underground duct bank in Orlando


WINTER PARK, FL, May 19, 2010 — The commercial division of Palmer Electric Company has secured a $1.05 million contract with the Orlando office of PCL Construction Services Inc., a construction services company, for the Orlando Regional Medical Center (ORMC) Enabling Package “G”.

Under its scope of services, Palmer is expanding the hospital’s infrastructure with the installation of 40,000-lineal feet of underground duct banks and 30 manholes located throughout the medical facility’s downtown Orlando campus.

Duct bank users include the Orlando Utilities Commission, A T & T, Bright House Networks and ORMC for its electrical and communication systems. Completion is scheduled for November 2011.

Winter Park, Florida-based, RLF is providing engineering services for the project.

Palmer Electric Company is a provider of electrical contracting, service and energy saving technologies to commercial, institutional and residential customers since its founding in 1951.

The Company employs a staff of 200. Located in Florida, the company is headquartered in Winter Park with residential division offices in Lakeland, St. Cloud and Jacksonville. For additional information, visit http://www.palmer-electric.com/.

Contact: Elaine Ingra, 407 384-1344, elainei@pr-works.com