Monday, June 6, 2011

Grubb & Ellis Represents 3PL Worldwide Inc. in 201,035-SF Warehouse Lease in Rancho Cucamonga, CA

ONTARIO, CA. (June 06, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Randy Lockhart (bottom right photo), executive vice president, Industrial Group, Steve Sprenger, senior vice president, Global Logistics, and Scott Sanders, associate, Industrial Group, represented 3PL Worldwide Inc. in its three-year lease of 11190 White Birch Drive, a 201,035-square-foot warehouse/distribution building in Rancho Cucamonga. 

 “By leasing this quality property with excellent secured truck and trailer storage, 3PL more than doubled its dock capacity and the square footage it leases on the West Coast,” said Lockhart. 

The provider of third-party logistics to direct response, e-commerce and catalog marketers will take occupancy of the building that includes 26 dock high doors early this month.  3PL Worldwide will use the building to provide fulfillment, logistics and contact center services. 

 Rick John, Gus Andros and Kenneth Andersen of DAUM Commercial Real Estate Services represented the owner of the property, Delphinidae/White Birch L.P., in the transaction. 
Contact: Julia McCartney, Phone: 714.975.2230                                     

National Real Estate Associations Play Leading Role in Industry

ATLANTA, GA--From protecting our interests on Capitol Hill to educating us about best practices, national commercial real estate associations work tirelessly to support our industry.

In this week’s Commercial Real Estate Show, we talked with some of the top commercial real estate associations in the nation. We explored a wide range of member benefits and learned how these associations are tackling some tough issues to protect our profession.

Legislative issues are hot right now, as some associations are advocating for pro-business tax policies and monitoring the proposed Financial Accounting Standards Board (FASB) lease accounting rules.

Advocacy is especially important in these economic times, as 48 of the 50 states face budget deficits and some legislators are looking for new ways to tax business owners, says Doug Culkin (top right photo), president of the National Apartment Association.

“So much legislation is happening,” Culkin said. “We all understand that budget deficits have to be overcome, but we don’t feel that the way to overcome those deficits is by putting an undue burden on the backs of business men and women all around the country.”

The National Association of Real Estate Investment Trusts (NAREIT) is advocating to reform the Foreign Investment in Real Property Tax Act (FIRPTA), says Bonnie Gottlieb (middle left photo), the association’s vice president of industry and member affairs.

NAREIT is strongly supporting legislation that would either remove or reduce FIRPTA’s tax burden on profits from the sale of commercial real estate and REIT shares, Gottlieb explained.

“It would help put the entire commercial estate industry on a more level playing field with other U.S. stocks, so it’s very very important, but it’s going to be a tough fight,” Gottlieb said.

This is just one of the goals at the association, which works to tell the REIT story to investors, policy makers and the broad commercial real estate industry.

The National Retail Tenants Association is monitoring the proposed FASB lease accounting rules, which are a major concern for many retail tenants.

“Lease administrators are going to have to scramble to go back in and dig out an awful lot of information from their leases, so that is one of the major issues that everybody is waiting to hear what the final result is going to be,” said Paul Kinney (middle right photo), executive director of the National Retail Tenants Association.

Kinney said the association has also dealt with many bankruptcy issues, involving both shopping centers and tenants.

Another key role of associations is to provide professional education and teach best practices through annual conferences, local meetings and web-based tools. Urban Land Institute has seminars around the world, with 24 programs each year in Atlanta alone.

Many associations also offer networking and other shared resources for members. For example, Urban Land Institute helps its 30,000 members worldwide connect to share expertise on everything from infrastructure to sustainability.

 “It really is a culture of sharing,” said Jeff DuFresne,(lower left photo) executive director of Urban Land Institute. “A lot of the members grow professionally and personally through mentoring and problem-solving together.”

This show was an excellent overview of several established organizations that serve our profession. The show can also help you figure out which organizations best fit you and your company. If you haven’t heard it already, the show is available for download here.

The next “Commercial Real Estate Show” will air June 11 and will provide insight into the world of commercial loan workouts. Tune in to hear from our panel of experts and find out the best practices that are working well at this point in the cycle.

It will be available for download at

Christin Clay
Wilbert News Strategies
1720 Peachtree St, Suite 1040
Atlanta, GA 30309
p 404-965-5025 | m 404-405-2354
Twitter: @christinclay10


Carter Brokers Sale of Property for New Kennesaw State Student Housing Development in Georgia

ATLANTA, GA (June 6, 2011) - Carter’s Rob Adamson (middle right photo) recently represented the seller on the sale of a 5.9-acre site on Big Shanty Road directly across the street from Kennesaw State University’s new sports complex (top left photo).

Vertical construction of a student housing development is scheduled to begin on the property immediately. The project is projected to be completed by mid-summer 2012 and ready for student occupancy by fall 2012.

This off-campus student housing facility will be two buildings comprised of 217 units and 804 beds. The project will also include a pool, breezeways and a connected five-story parking deck.

This new facility will provide an off-campus alternative for students with direct access to the sports complex which currently includes the main stadium for the university’s soccer events, practice facility fields and home for Atlanta’s professional women’s soccer team, Atlanta Beat.

Another large component of the project is the 20,000 square feet of ground retail. Approximately 8,000 square feet of the retail has already been preleased to McCray’s Tavern and Blue Moon Pizza.

Carter’s Jack Arnold (lower left photo) is assisting Rob and will be heading up the project’s leasing and development management. He is actively working to secure preleases for the remaining 12,000 square feet of space.

“This project offers a glimpse of the demand for student housing at Kennesaw State and also underscores the willingness of private equity and lenders to fund these types of projects,” said Adamson. “We are very excited about this development that will serve as a community where students can live, study and play.”

 For additional information on Carter, please visit

. Contact:
Laura Dudebout
O: 404.965.5023
C: 678.642.4301

Karen Whitt Joins Colliers International

SEATTLE and WASHINGTON, June 6, 2011/PRNewswire/ -- Colliers International announced today that Karen J. Whitt (top right photo), a respected real estate executive with 20 years of industry experience, has joined the organization as Chief Operating Officer of Real Estate Management Services.

"Colliers International's national Property Management platform continues to expand," said Dylan Taylor (bottom left photo), CEO of Colliers International in the U.S. "Adding Karen to our team furthers our goal of becoming the number one provider of asset and property management services nationally and will help us accelerate our clients' success." 

Colliers International manages nearly one billion square feet of space around the world.

"With its focus on integrated services, creativity and driving maximum value within clients' portfolios, Colliers International is well positioned within the marketplace," Whitt said. "It is exciting to join a global organization that is opening new offices and expanding its reach both nationally and globally while remaining committed to service excellence as a core value." 

 Richard Mulieri, , or Russ Colchamiro,, both of The Marino Organization, +1-212-889-0808

NAI Realvest Negotiates New Office Leases in South Orlando and Daytona Beach, FL

ORLANDO, FL– NAI Realvest recently negotiated a new office lease for 1,830 square feet in the South Park Business Center, an office/warehouse development located at 8600 Commodity Circle in south Orlando. 

 Tom R. Kelley II (top right photo), CCIM, principal at NAI Realvest, negotiated the transaction on behalf of landlord, South Park, LLC of Miami.   The tenant, Orlando-based Sunshine Limousine and Sedan Service was represented by Charles Hwang of Global Properties.

 Kelley also negotiated a new office lease in Orlando Central Park, 6900 South Orange Blossom Trail, representing the landlord Rene Mestdagh Revocable Trust of Orlando.  The new tenant, Roman Realty, LLC leased 380 square feet.

For more information,  contact:
Tom R. Kelley II CCIM, Principal, NAI Realvest, 407-875-9989,
Patrick Mahoney, President, NAI Realvest, 407-875-9989
Beth Payan, Larry Vershel Communications, 407-644-4142

 NAI Realvest Negotiates $6 Million Purchase of 5.44 Acre Beachfront Development Site in Daytona Beach by Toronto Investment Firm

DAYTONA BEACH, FL --- NAI Realvest recently negotiated the purchase of a 5.44 acre beachfront development site at 801-905 S. Atlantic Avenue in Daytona Beach for $6,000,000.

Chris Butera (middle left photo) associate at NAI Realvest in Maitland, negotiated the sale representing the buyer Toronto-based Bayshore Capital.    The seller is Regions Bank of Birmingham, Ala.

The site is comprised of four separate lots and three former beachfront motels that AJ Daytona Developers acquired for $26 million in 2004 and combined into a single parcel for development of a luxury hotel before Regions foreclosed in 2009

Located in the core Daytona Beach tourist area, the site ranks as the largest and highest-priced oceanfront parcel to sell in all of Daytona Beach in recent years.

“Bayshore Group has been acquiring strategic development sites in the Daytona Beach area for several months,” Butera said. “They were a perfect match for this site.”

Since last August,  Bayshore Group has spent more than $14 million to acquire beachfront sites in Daytona Beach that total more than 12 acres in four separate transactions.

For more information, please contact:
Chris Butera, Associate NAI Realvest 386-453-4789
Patrick Mahoney, President, NAI Realvest 407-875-9989;
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

NAI Realvest Negotiates New Office Leases in South Orlando


   ORLANDO, FL– NAI Realvest recently negotiated a new office lease for 1,830 square feet in the South Park Business Center, an office/warehouse development located at 8600 Commodity Circle in south Orlando. 

 Tom R. Kelley II, CCIM, principal at NAI Realvest, negotiated the transaction on behalf of landlord, South Park, LLC of Miami.   The tenant, Orlando-based Sunshine Limousine and Sedan Service was represented by Charles Hwang of Global Properties.

 Kelley also negotiated a new office lease in Orlando Central Park, 6900 South Orange Blossom Trail, representing the landlord Rene Mestdagh Revocable Trust of Orlando.  The new tenant, Roman Realty, LLC leased 380 square feet.

For more information,  contact:
Tom R. Kelley II CCIM, Principal, NAI Realvest, 407-875-9989,
Patrick Mahoney, President, NAI Realvest, 407-875-9989
Beth Payan, Larry Vershel Communications, 407-644-4142

HEI Hotels & Resorts Sells Algonquin Hotel – New York City

NORWALK, CT, June 6, 2011—Officials of HEI Hotels & Resorts (HEI), the nation’s fastest growing private owner/operator of hotel real estate, today announced that the company has sold the 174-room Algonquin Hotel (top left photo) in New York City, for an undisclosed price.

 Under the terms of the deal, HEI will continue to operate the hotel on behalf of its new owner.

 “We purchased the hotel through our initial fund (Fund I, raised in 2004) and have since then completed a renovation and affiliation with Marriott’s Autograph Collection brand” said Steve Mendell (middle right photo), president of acquisitions and development. “This transaction enabled us to cycle out of the investment, yet continue to maintain our presence in the attractive Manhattan marketplace.”

Located off of Times Square at 59 West 44th Street, between Fifth and Sixth Avenues, the property arguably is the most “literary” hotel in the world. Home of The Algonquin Roundtable in the 1920s, the property has played host to many of the world’s most illustrious writers and personalities, including Dorothy Parker, H.L. Mencken, Gertrude Stein, Douglas Fairbanks, Sr., John Barrymore and Helen Hays. William Faulkner drafted his Nobel Prize acceptance speech at the hotel, and Alan Jay Lerner and Frederick Lowe wrote “My Fair Lady” in Lerner’s suite

 “HEI continues to build relationships with an ever expanding group of hotel owners,” said Anthony Rutledge, HEI chief financial officer. “We look forward to working with the new owner and will through HEI’s unique operating platform continue to add value to this iconic asset as a third-party operator.”

For more information about HEI, visit the company's website,

 Contact: Julie Tullbane, Daly Gray, Inc., T 703-435-6293,
F 703-435-6297,

Molinaro Koger Refutes False Allegations Regarding Hotel Real Estate Sales

Firm to Continue to Pursue Eight-Month Lawsuit to Identify Perpetrators of Theft and Break-in

WASHINGTON, D.C., June 6, 2011—Officials of Molinaro Koger (MK), the global hotel-exclusive real estate brokerage, advisory and capital markets firm, one of the largest hotel real estate firms, today said they were taken aback by a lawsuit filed by Host Hotel & Resorts on June 3, 2011, accusing the firm of illegal activity in the sale or financing of three hotels.

 In addition, they announced that they continue to vigorously pursue legal action to uncover the persons or company behind a series of crimes against Molinaro Koger, including pretexting the company’s accounts to illegally obtain financial records from the firm’s banks, breaking and entering Molinaro Koger’s office and stealing files and sending false and malicious correspondence to MK’s clients. 

"This whole event seems like the plot of a John Grisham novel, where we are the victims,” said Robert Koger (top right photo), president of Molinaro Koger.  “I am puzzled and disappointed by Host’s baseless accusations.

“Among the various false accusations is the suggestion that Host had no knowledge of the transactions of which they now complain because it is belied by the fact that senior management at Host had complete knowledge of the transactions,” he said. 

“That their suit professes ignorance of Scioto Partners and falsely alleges some affiliation between Scioto and Molinaro Koger is inexplicable.  Host knows full well that Mr. Lawyer and his company, Scioto, are real estate investors and that Mr. Lawyer and his partners have no affiliation with Molinaro Koger. 

“Regarding the remainder of the false allegations, I defer to my counsel and will allow them each to be disproved through the litigation process Host has chosen to pursue.” 

Koger said that Host’s complaint will not deter Molinaro Koger from continuing to pursue its eight-month old lawsuit through which it has diligently pursued the identities of those who have stolen its confidential financial information, burglarized its offices, and taken other anonymous actions maliciously and falsely targeting it to other MK clients.

 “We have a signed confession regarding some of the activities and have won a significant discovery ruling in which the court has ordered a private investigation firm and its president to divulge who has financed these illegal acts and smear campaign. 

“We intend to file charges against the perpetrators and restore our company’s good name. Molinaro Koger will continue to provide the highest level of service to its clients in the hotel and hospitality industry as it has done for the past fifty-two years."

Because this matter involves on-going litigation matters, Molinaro Koger is referring inquiries to its counsel, Charles Kimmett (lower left photo) of Wiltshire & Grannis LLP – (202) 730-1357.

 For further information about the company or current hotel property offerings, call 703.760.9600 or visit the company’s website

Contact: Jerry Daly, Chris Daly, (703) 435-6293,

The Dow Hotel Company Acquires Hilton Long Island/Huntington

 SEATTLE, Wash., June 6, 2011—The Dow Hotel Company (DHC), a hotel owner/investor and management company, today announced the acquisition of the 304-room Hilton Long Island/Huntington (top left photo) in Melville, N.Y. 

The purchase was made in a joint venture with Prudential Insurance Company of America for an undisclosed amount from Melville Hotel Owner 2010 LLC.  This is DHC’s seventh such venture with Prudential.

As part of the acquisition plan, the Hilton Long Island/Huntington will undergo a $15 million renovation that will include upgraded hotel rooms, corridors, public spaces, HVAC, parking and landscaping.  DHC will manage the property and oversee the enhancement program.

“This is the only full-service Hilton on Long Island, and the planned refurbishment will ensure that it retains its position as Long Island’s leading business hotel,” said Murray L. Dow II (middle right photo), DHC founder and CEO.

 “This acquisition, our first in the Northeast, advances our nationwide growth plan, and is totally consistent with our strategy of acquiring well regarded hotels in top tier markets with high barriers to new entry.” 

The company currently operates in metro Portland, Seattle, Los Angeles, Sacramento, Chicago, Houston, San Antonio and Atlanta.

“Melville is a significant business address on Long Island that will become even more important next year when Canon’s North and South American headquarters opens there,” Dow noted.

The hotel boasts the largest ballroom, with banquet capabilities for 1,500 guests, and the most meeting space on Long Island.   

“This property is a key player in the mid-island meetings market,” noted CA Anderson, DHC’s president.  “With more than 26,000 square feet of flexible meeting space, including 18 well-appointed meeting rooms, it is a single location that is central to all of Long Island.” 

Located at 598 Broad Hollow Rd., in the heart of Melville’s business district on the Interstate 110 corridor, the property is just 45 minutes from JFK airport, with easy proximity to New York City and the Hamptons.  The full-service hotel features several resort amenities, including both indoor and outdoor pools, a fitness center and tennis courts, as well as two restaurants. 

 Additional information about The Dow Hotel Company may be found at

Contact: Chris Daly, media, (703) 435-6293,