Friday, July 16, 2010

Marcus & Millichap Sells 4,666-SF Office Building in Tampa, FL

TAMPA, FL, July 16, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of this South Tampa Office Building (top left photo), a 4,666-square foot office property located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $540,000.

Francesco P. Carriera (bottom right photo), senior associate and Michael J. Jaworski, (bottom left photo)  investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller.

The buyer, a limited liability company also based out of Florida, was represented by Mark Paris of Re/Max.

South Tampa Office Building is located at 3301 West Gandy Boulevard. The property was originally a two-story residence with 10 rooms.

The previous tenant had invested in high quality build-out throughout the entire asset, which included hardwood flooring, tile, new carpeting, new bathrooms and elegant lighting fixtures. Natural light was a key attribute of this window-laden building.

“The property had multiple offers from both investors and owner/users and it closed within 60 days from contract,” says Jaworski.

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

Grubb & Ellis Commercial Florida Negotiates New Office Lease agreement at The Pan Am Building in Tampa, FL

TAMPA - Grubb & Ellis Commercial Florida, associated with 130 offices worldwide, recently completed a new office lease agreement for suite 100 with 3,863 square feet of office space in The Pan Am Building (top left photo)  on Pan Am Circle Rd. in Tampa.

Richard Andretta (middle right photo) , SIOR, vice president in the firm’s Office Group and associate Rob Turner (bottom left photo)  negotiated the agreement on behalf of the tenant Youth Villages based in Bartlett, Tenn.

The landlord is Pan Am Building, LLC of Tampa.

Grubb & Ellis Commercial Florida is an affiliated commercial real estate services firm specializing in the leasing and sale of office, industrial, retail, land and investment properties.

 Currently Grubb & Ellis Commercial Florida has 40 brokers divided among its Tampa, Orlando and Melbourne offices which serve the entire mid-Florida marketplace.

Contact:  Larry Vershel,

US Industrial REIT III Acquires GE Distribution Center In Florida

SAN ANTONIO, TX /PRNewswire/ -- US Industrial REIT III announces the recent purchase of the General Electric Distribution Center located at 600 Whittaker Road in Jacksonville, Florida.

 The facility was purchased from I&G UOC Jacksonville, LLC. Frank Fallon, Chris Riley and Nathan Rogers of the CBRE Atlanta Office represented the seller in the transaction. The purchase price was not disclosed.

The 469,830-square-foot, Class A Bulk Distribution Facility was built in 1996 for General Electric Company, who remains the sole tenant.

The GE Distribution Center occupies approximately 24 acres and includes 4,000 square feet of office space along with land for a future building expansion.

The building is rail served by CSX. T-5 lighting and new roofing, updated in 2007, complement its modern design and functionality.

General Electric Company distributes all of its major appliance lines from the Jacksonville facility to South Georgia, the Carolinas, Florida and the Caribbean.

This Jacksonville address serves as a strategic location within the well-known 1,500-acre Imeson International Industrial Park (bottom left photo) , former site of the City of Jacksonville's airport, and provides access to multi-modal transportation, including the Jacksonville International Airport, the Port of Jacksonville, and CSX Railways.

US Industrial REIT III is owned by affiliates of USAA Real Estate Company and other institutional investors and invests in high quality bulk distribution properties located in major markets throughout the United States. The REIT continues to actively pursue acquisitions in single and multi-tenant industrial distribution buildings of 250,000 square feet and larger in high growth target markets.

"We are extremely pleased to acquire this premier asset occupied by GE, a Fortune 500 leader and mainstay within the industries it competes. The purchase of this asset parallels our mission to accumulate a large portfolio of high quality assets," says USAA Real Estate Company Chairman and CEO Pat Duncan (middle left photo).

"Few markets connect to three rail carriers plus a seaport, making this facility's location exceptional and a key contributor to the success of USIR III."

General Electric Company remains a leader in technology, as well as financial services through GE Capital. GE's Consumer & Industrial arm manufactures major appliances, air conditioners and water systems products, as well as electrical and lighting products in North America and through various private GE and private label brands.

For more information, contact:
Sharon Ballenger,  +1-210-641-8410, for USAA Real Estate
Company, Web Site:

Wilson Commercial Real Estate Completes 31,500-SF Lease to TJ Maxx at Fallbrook Center in West Hills, CA

 WEST HILLS, CA– JULY 16, 2010 – Wilson Commercial Real Estate, one of Southern California’s leading retail brokerage firms.  has completed a 31,500-square-foot 10 year lease with TJ Maxx at Fallbrook Center  (top left photo) in a space formerly occupied by Linens ‘N Things, located at 6609 Fallbrook Avenue in West Hills, Calif.

“TJ Maxx will be a great addition to the tenant mix at Fallbrook Center,” said Scott Burns (bottom  right photo)  of Wilson Commercial.

Burns represented the building owner, General Growth Properties in the transaction. Pat Gilhooly of The Clover Company represented the tenant.

Fallbrook Center is the San Fernando Valley’s strongest and most diverse power center.

It is located at the corner of Victory and Fallbrook with easy access from the Ventura (101) Freeway.

Encompassing 1.2 million square feet, the center is 97 percent leased and is anchored by Target, Wal-Mart, Home Depot, Kohl’s, and Burlington Coat Factory, Ross Dress for Less, Trader Joes, DSW, 24 Hour Fitness and PETCO.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851

Bermuda Cay Condos in Boynton Beach, FL Sold for $8.2M

MIAMI, FL--CB Richard Ellis is pleased to announce the sale of Bermuda Cay (top left photo), a 106 out of 160 unit fractured condominium community located in Boynton Beach, Florida.

Dizengoff Trading acquired this community for $8,200,000 or $77,358 per unit or $72 per sq. ft.

Contact: Robert Given,

Dizengoff-Trading Group Acquires 106 Condo Units at Bermuda Cay in Boynton Beach, FL

BOCA RATON, FL (July 16, 2010)–Dizengoff-Trading Group announced the bulk purchase of 106 condominium units at Bermuda Cay, (top left photo)  a multi-family property converted from apartment units to condos five years ago.

 The complex is located at East Woolbright Road and South Federal Highway on the Intracoastal Waterway in Boynton Beach, Florida.

Dizengoff paid $78 a square foot, which amounts to a 78 percent discount to the average selling price during the height of the real estate boom.

With the purchase, Dizengoff controls 66 percent of the 160 total units, most of which are already leased.

Bermuda Cay was built in 1975 and totally refurbished in 2005 just before the conversion. The property is located in a desirable residential area, which is reflected by the high occupancy rate of the community.

The community has several amenities including a waterfront promenade and swimming pool, poolside clubhouse and lounge, fitness center, lush tropical gardens with fountains and pergolas, a barbeque area, and gated entry.

Units feature well-designed one and two-bedroom floor plans, which average 992 square feet in size, and include new impact resistant hurricane-rated windows, upgraded kitchen and bathroom in select units, walk-in closets, and a private balcony with spectacular Intracoastal and courtyard views.

Bermuda Cay is walking distance to the beach and neighborhood shopping centers and is within minutes of the Boynton Beach Mall (lower right photo), Boynton Town Center, and the Renaissance Commons – a mixed-use development which includes over 7 million square feet of office, retail, and high-end residential space.

Dizengoff- Trading Company (1952) LTD. specializes in the development and management of residential and commercial properties.

The company has been ranked amongst the top 50 service and trade companies by Dun and Bradstreet in Israel, reflecting its considerable financial strength and wide-ranging capabilities.

The company has offices in Israel, the United States, the United Kingdom and the Czech Republic. For more information, visit the company web site at

Media Contact: Todd Templin and/or Jennifer Clarin, Boardroom Communications
(954) 370-8999/ Todd Cell: 954-290-0810