Friday, May 21, 2010

NAI Realvest Negotiates New Office Lease Agreement with International Food Trade Company at La Vina Office at Lake Nona, FL

ORLANDO, Fla. --- NAI Realvest recently negotiated a new lease agreement for 1,410 square feet of office space at La Vina Office at Lake Nona, 9145 Narcoossee Rd. in southeast Orlando.

Mary Frances West (top right photo), CCIM senior associate at NAI Realvest, negotiated the transaction representing the landlord Orlando-based Ripley’s International, LLC.

The tenant, SCG Trading aka South Commerce Group, Inc., an international food trade company, already has one Florida office in Miami and is opening its second with a two-year lease at this location.

For more information,  contact
Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989;
Patrick Mahoney, Chief Operating Officer NAI Realvest, 407-875-9989
 Beth Payan, Larry Vershel Communications, 407-644-4142

Grubb & Ellis Adds Top Retail Team to Rapidly Expanding San Diego Office

SAN DIEGO, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that its San Diego office, which opened in March has expanded its capabilities with the addition of the Retail team of Anthony M. Villasenor (top left  photo) , Ryan Gonzales (top right photo)  and Christopher Belaire.

 The team joins from Voit Real Estate Services, effective immediately.

Villasenor joins as senior vice president, Gonzales as senior associate and Belaire as research coordinator.

“Tony and his team are well-known throughout the San Diego marketplace,” said Greg Coxon, president, Brokerage Services.

 “Their knowledge of the local marketplace and reputation for providing unparalleled client service are consistent with our objective of attracting quality professionals to our office. We are committed to building the top commercial real estate services office in San Diego, and we’re thrilled to have Tony and his team on board.”

Contact: Julia McCartney, Phone: 714.975.2230, Email:

Marcus & Millichap Promotes Spencer Yablon and Joseph Cesta to Vice President Positions

Spencer Yablon Will Continue as Regional Manager of Philadelphia Office

PHILADELPHIA, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Spencer Yablon (top right photo)  to vice president, according to Harvey E. Green, (top left photo)  president and chief executive officer of Marcus & Millichap.

Yablon currently serves as the regional manager of the Philadelphia office, a position he will continue to hold.

“Spencer’s excellent management skills, brokerage expertise and superior knowledge of the investment sales market make him a great asset to our clients and investment specialists in Philadelphia and throughout the Mid-Atlantic region,” says Green.

Yablon joined the Philadelphia office in March of 2004 and listed more than $180 million in investment properties. He was promoted to associate in September 2005. Yablon became a member of the management team in September 2006 as a sales manager of the Philadelphia office. In April 2007, he was promoted to regional manager and in 2009 he earned the firm’s Regional Manager of the Year designation.

Prior to joining the firm, Yablon worked as a wealth management consultant for a New York investment bank and was the top rookie in his training class. Prior to leaving that firm, he managed nearly $250 million for high net-worth individuals with his partners.

Yablon graduated from Lehigh University with a Bachelor of Arts in Psychology.

Joseph Cesta Remains Regional Manager of Newport Beach, CA Office

NEWPORT BEACH, CA May 21, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Joseph Cesta  (middle left photo) to vice president, according to Harvey E. Green, president and chief executive officer of Marcus & Millichap.

 Cesta currently serves as the regional manager of the Newport Beach office, a position he will continue to hold.

“Joe’s excellent management skills, brokerage expertise and superior knowledge of the investment sales market make him a tremendous asset to our clients and investment specialists in Orange County and throughout Southern California,” says Green.

Cesta joined Marcus & Millichap in 2001 as a sales intern. He became an agent in 2002, specializing in retail investments.

 Cesta earned several sales awards and reached senior associate status in 2004. In May 2005, he joined the management team as sales manager of the Ontario office.

 Cesta then became a sales manager of the Newport Beach office in December 2007. In July 2008, he was promoted to regional manager of the Newport Beach office.

Cesta attended Arizona State University on a football scholarship and graduated with a Bachelor of Science degree in Business Marketing and a Minor in Communications.

Marco Lala of Marcus & Millichap Lists More than $30M in New York Real Estate

NEW YORK, N.Y., May 21, 2010 – Since January, Marco Lala (bottom left photo) , an associate vice president investments in the Manhattan office of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has listed and closed more than $30 million in commercial real estate assets and has been asked to perform more than 70 Broker Opinion of Values (BOVs) for banks, large institutional groups and private owners, according to J.D. Parker, (bottom right photo)  regional manager of the firm’s Manhattan office.

“Since joining Marcus & Millichap in 2008, I have been able to better serve my clients,” says Lala. “I’ve not only continued to focus on my core business in The Bronx, Manhattan and Westchester but more importantly, cover the entire metro area working with Marcus & Millichap brokers in other offices, including Brooklyn, New Haven and New Jersey.”

In 2008 and 2009, Lala brokered the sale of 62 properties.

As the investment sales market becomes even more challenging and lending sources continue to tighten, Lala’s consultative approach to brokerage has earned him the respect of some of the city’s biggest property owners, explains Parker.

“Many of the city’s local owners seek Lala’s advice or ask him to provide with a ‘back of the envelope’ analysis on their next deal,” says Parker.

Lala’s most recent closing was a 28-unit apartment building that closed for $2 million at 34 Putnam Ave. in Brewster, N.Y.

His listings include:

39-43 Garfield St., Yonkers: a seven-family residential building with 30 parking spaces for $750,000;
641 President St. and 682 Union St., Brooklyn: a mixed-use for $5,995,000;
2543-67 Decatur Ave., The Bronx: a 94-unit apartment building for $6,995,000;
2608 Creston Ave., The Bronx: a 54-unit apartment building for $4,395,000;
3128 Villa Ave., The Bronx: a 30-unit apartment building for $2,395,000;
647 Bryant Ave., The Bronx: a mixed-use building for $1,375,000;

1302 Rev. James Polite, The Bronx: an 8-unit building for $695,000
1306 Fteley Ave., The Bronx: a 63-unit and five-store mixed use asset for $5,995,000;
307 E. Tremont Ave., The Bronx: a 62-unit and a four-store mixed use building for $5,999,000;
1251-1255 Webster Ave.; The Bronx, a 55-unit asset for $4,199,000;
42 Buena Vista Ave., Yonkers, a development site for $300,000;
7 Terrace View, New York, N.Y.,: a development site for $375,000.

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

Marcus & Millichap Sells 14-Unit Apartment Building in Clearwater, FL

CLEARWATER, FL, May 21, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Edward Apartments (top left photo) , a 14-unit apartments property located in Clearwater, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $360,000.

Michael P Regan investment specialist in Marcus & Millichap’s Tampa office and Felipe J. Echarte, investment specialist in the firm’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of both the seller and the buyer, limited liability companies based out of Florida.

The Edward Apartments is located at 1408 Alpine Road.

“This property was successfully sold as a structured short sale. We are seeing banks being more proactive in going down this route with cooperating borrowers, rather than chancing a long foreclosure process” Regan stated.

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

HFF named to market for sale 428-unit Schaumburg, IL multi-housing community

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale The Lakes of Schaumburg (top left photo) , a 428-unit multi-housing community in Schaumburg, Illinois.

HFF managing directors Marty O’Connell (top right photo)  and Sean Fogarty (top left photo)  and executive managing director Matthew Lawton (middle right photo) will lead the investment sales team on behalf of its client, Cornerstone Real Estate Advisers LLC.

 The property is listed without a formal asking price free and clear of existing debt.

The Lakes of Schaumburg is located at 801 Belinder Lane near Interstates 90 and 290, O’Hare International Airport and two Metra commuter rail lines in the northwest Chicago suburb of Schaumburg.

The property has one- and two-bedroom units averaging 800 square feet each and the current occupancy is over 95%.

Residents have access to two clubhouses offering a business center, coffee/tea bar, fitness center and weight room as well as two outdoor heated swimming pools, two sand playgrounds, extensive beautiful landscaping including three fountain ponds and a jogging/bike trail.

“The Lakes of Schaumburg is ideally positioned in one of the area’s most desirable and historically highest performing submarkets,” said O’Connell.

 “There has also been minimal construction in the Schaumburg area. The last community to be built was in 1990, making communities such as The Lakes of Schaumburg, which has been extensively renovated, one of the very finest communities for renters in the area.”


Martin F. O'Connell, HFF Managing Director, (312) 528-3650,
Sean P. Fogarty, HFF Managing Director, (312) 528-3650,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

HFF arranges refinance of GSA-leased facility in Houston

HOUSTON, TX – The Houston and Dallas offices of HFF(Holliday Fenoglio Fowler, L.P.) have arranged a financial joint venture for Southwest Science Center (middle left photo) , a 34,277-square-foot facility fully leased to the General Services Administration (GSA) in Houston, Texas.

HFF senior managing directors Dan Miller (middle right photo below Matthew Lawton photo) and Mona Carlton (middle left photo beneath GSA property photo)  and real estate analyst Trent Agnew represented the owner, Live Oak Gottesman Company, an Austin, TX-based full-service real estate firm.

A private real estate group entered into a joint venture with the owner and assumed existing debt as part of the agreement. HFF arranged another financial joint venture on behalf of Live Oak Gottesman in January for another GSA-leased facility in McAllen, Texas.

Southwest Science Center, located at 4150 Interwood South Parkway, is situated on nearly six acres near the Sam Houston Tollway and George Bush Intercontinental Airport in a 440-acre master-planned, mixed-use development called Interwood.

The building is a state-of-the-art forensics laboratory that was developed and constructed for U.S. Customs & Border Protection.


H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500,
 Mona K. Carlton, HFF Senior Managing Director, 214) 265-0880,
Kristen M. Murphy, HFF Associate Director, Marketing, ( (713) 852-3500,

HFF named to market for sale a super-core trophy retail project adjacent to Woodfield Mall in Schaumburg, IL

CHICAGO, IL – The Chicago and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have been named to market for sale The Streets of Woodfield, a 711,402-square-foot, super-core retail project in Schaumburg, Illinois.

HFF directors Kenneth Glomb and Daniel Kaufman, along with senior managing directors Matthew Lawton, Jim Batjer and Barry Brown,  will market the property exclusively on behalf of the ownership.

The Streets of Woodfield is 98% leased on a long-term basis, and anchored by Carson Pirie Scott, Dick’s Sporting Goods, Crate & Barrel and Whole Foods Market. The Streets of Woodfield also includes a 20-screen AMC Theatre and the U.S. flagship store for LegoLand Discovery Center. The property is located at 601 North Martingale Road immediately adjacent to Woodfield Mall, (bottom left photo) a 2.2 million-square-foot super regional mall.

“The center features a dynamic, thoroughly modern architectural design, which appeals to the area’s sophisticated shopper base; and the open-air circulation allows excellent visibility into the project from Interstate 290 at the entrance to Woodfield Mall,” said Glomb.

“The Streets of Woodfield is a well-seasoned retail landmark in suburban Chicago which sits at a main-and-main location adjacent to one of the nation’s top 25 super regional malls. The center’s A+ retail location, outstanding / productive tenant mix, and upside potential are highly coveted by retail real estate investors today,” said Kaufman.

“The trade area offers retailers an exceptional demographic base featuring 270,000 people within a five-mile radius of the property and an $87,000-plus average household income.

Approximately 250,000 cars per day travel past The Streets of Woodfield on I-290 and Higgins Road.

 As a result of the area’s outstanding demographic characteristics, the Woodfield Mall submarket is a tier-one location for retailers doing business in the United States and The Streets of Woodfield is a first stop location for those retailers.

The property’s retail tenants report consistently high sales including top 10% of chain performance for a number of the retailers, and Whole Foods’ recent addition and long-term commitment to the center further demonstrates the strength of this location and the appeal of The Streets of Woodfield,” added Glomb.

Kenneth J. Glomb, HFF Director, (312) 528-3650,
Daniel A. Kaufman, HFF Director, (312) 528-3650,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,