Monday, September 12, 2011

Procacci Development Corp. Hurrican-Resistant Building Earns Zurich’s ‘Highly protected Risk” Status


Boca Raton, FL (Sept. 12, 2011) – Procacci Development Corporation, a leader in the creation of Class “A” office buildings constructed to resist Category 5 Hurricane-force winds, announced today that its insurance provider, Zurich, awarded the “Highly Protected Risk” (HPR) certification to the Miami-Dade County facility built by Proccaci for Keiser University (middle left photo).

Zurich’s HPR standard recognizes companies that go above and beyond commitment to hurricane and wind event safety.

 The building was designed and constructed in accordance with the developer’s “Built Procacci Strong” construction program. The facility’s hurricane-resistant attributes protect against water and damage from winds up to 156 miles per hour – well in excess of the requirements of the Florida Building Code.

 “We’re honored to have our Keiser University building earn Zurich’s coveted Highly Protected Risk status,” said Philip J. Procacci (top right photo), CEO, following an announcement at the Keiser University site within Crossroads at Dolphin Commerce Center fronting Florida’s Turnpike in west Miami-Dade County. “This acknowledges the vision we had in creating buildings ideally suited to withstand damage and outages related to tropical weather systems.”

 “Receiving this status means Keiser has lowered its risk profile, which typically results in receiving lower insurance premiums,” he continued. “It also means the school is likely to be up and running immediately after a major storm. For any enterprise, business continuity is critical to economic sustainability and lasting vitality.”

 Keiser’s Miami education facility is the 23rd building worldwide to earn Zurich’s HPR certification, according to Dale Seemans, senior risk engineering[1] consultant for Zurich. 

 To learn more about Zurich’s HPR, go to Zurich’s Hurricane Information Center at or

contact Seemans at

 For more information, log on to

For more information about Zurich’s business in North America, go to

Todd Templin
Executive Vice President
Boardroom Communications
(954) 370-8999
(954)290-0810 (Cell)
(954) 370-8892 Fax
1776 N. Pine Island Road, Suite 320, Plantation, FL 33322

Marcus & Millichap Facilitates Sale of 22-Unit Apartment Community in Tampa, FL


TAMPA, FL,  Sept. 12, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Melrose Place (top left photo), a 22-unit vintage garden apartment community located in Tampa, Fla., according to Bryn D. Merrey (middle right photo), vice president and regional manager of the firm’s Tampa office. The sales price of $300,000 represents $23.52 per square foot.

Casey Babb (lower left photo), CCIM, a senior multifamily specialist, and Luis Baez, multifamily specialist both in Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the Florida-based seller, a private investor.  The listing agents also secured the buyer of the property, a private investor from Windermere, Fla. 

Melrose Place is located at 13624 North 15th Street.  This 1960s vintage, garden apartment community is located in the University submarket of Tampa.

Units are a mix of 12 one-bedroom/one-bath housed in the main building; eight one-bedroom/one-bath housed in four duplex buildings and two two-bedroom/one-bath units in one duplex building. 

“At this point in the cycle, many distressed situations have been resolved, however, there are still many that have yet to be worked out and so we expect short sales and lender forced sales like this one, to continue at a measured pace for the foreseeable future,” comments Babb.

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

Partial sale of waterfront multi-housing community in Hoboken, NJ closed by HFF

 FLORHAM PARK, NJ – HFF announced today that it has closed the partial sale of 333 River Street (top left photo), a 526-unit, Class A multi-housing community with 56,723 square feet of ground floor retail space in Hoboken, New Jersey.

HFF marketed the property on behalf of the seller, Starwood Capital Group Global. 

Applied Development Company purchased the 10 percent interest in the property for $10 million.  With this purchase, Applied now owns the entire building. 

333 River Street is located along the Hudson River Gold Coast in Hoboken, adjacent to Frank Sinatra Park (top right photo) and the new W Hotel, and within walking distance to the Washington Street retail/entertainment area and the Hoboken Terminal providing Path train, NJ Transit and NY Waterway ferry service to Manhattan. 

Completed in 2002, the property has studio, one-, two- and three-bedroom units averaging 923 square feet each. 

Community amenities include 24-hour concierge service, a fitness center, private screening room and lounge, billiards room, rooftop putting green and two children’s play areas.  333 River Street’s retail tenants include Fresh Ideas by Kings (grocer), Valley National Bank, 3 Forty Grill, Trinity, The Quays, CORT Furniture, Beyond Basic Learning and LA Boxing.

 The HFF team representing Starwood Capital Group Global included senior managing directors Jose Cruz (middle left photo) and Andrew Scandalios (lower right photo) and directors Jeffrey Julien and Kevin O’Hearn.

“333 River Street has a tremendous location with views of the Hudson River, New York Harbor and the Manhattan skyline, and is situated within a supply constrained market with lack of new product thereby ensuring long-term success,” said Cruz. 

 “Applied has completed their ownership with this last installment purchase,” added Cruz.

Jose R. Cruz, HFF Senior Managing Director, (973) 549-2000,                                                                               
Andrew G. Scandalios, HFF Senior Managing Director,  (212) 245-2425                     
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500                                     

HFF closes $43.15 million sale of Kroger-anchored shopping centers in Alpharetta, GA

 ATLANTA, GA – HFF announced today that it has closed the sale of Crabapple Shopping Center (middle right photo) and Saddlebrook Shopping Center (top left photo), two grocery-anchored shopping centers totaling 235,286 square feet in Alpharetta, Georgia.  

HFF marketed the assets on behalf of the seller, LaSalle Investment Management.  AEW Capital Management purchased both properties for $43.15 million free and clear of debt.

 Crabapple Shopping Center is situated at 12460 Crabapple Road at the intersection of Arnold Mill Road and Crabapple Road.  The 106,559-square-foot property was completed in 1995 and is 94 percent leased to tenants including Kroger, Domino’s Pizza, Subway, The UPS Store and Great Clips.

Saddlebrook Shopping Center is situated on more than 13 acres at 10945 State Bridge Road.  The property totals 128,727 square feet and is 96 percent occupied by tenants including Kroger, Pizza Hut, Tuesday Morning and Goodyear.

The HFF team representing LaSalle Investment Management was led by directors Jim Hamilton (lower left photo) and Richard Reid (lower right photo).

LaSalle Investment Management is one of the world’s leading real estate investment managers. With nearly 700 employees in 17 countries worldwide, the firm manages $48 billion (as of Q1 2011) of private and public property equity investments.

Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide. Currently, AEW, AEW Europe and AEW Asia manage over $47 billion of real estate assets and securities (as of March 31, 2011) on behalf of many of the world's leading institutional and private investors.

 For more information please visit

Jim R. Hamilton, HFF Director, (404) 942-2212,                                                                                    
Richard M. Reid, HFF Director,  (404) 942-2209,                                                           
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500                                     

Recreation One Stop (R1S) to Host Hospitality Outreach Event Oct. 17-19, 2011 in Bethesda, MD


  WASHINGTON, D.C., Sept. 12, 2011—Officials of Recreation One Stop (R1S), a program of  the federal government dealing with online travel, reservations, and vacation trip planning on public lands, today announced that it will host a unique “Explore Your America” outreach event October 17-19, 2011, at the DoubleTree by Hilton Hotel in Bethesda, Md. (top left photo) 

The purpose of the event is to familiarize hospitality focused technology and marketing groups with (, one of the top recreation websites in the world with more than 11 million page views, 1.6 million reservations and $80 million in recreation fees on an annual basis.

  “ is the exclusive online portal to explore recreation opportunities available on U.S. federal lands,” said Lynne Beeson, R1S program manager. 

“This event is designed for businesses who may want to bid on the opportunity to sustain, grow and re-imagine this high volume online reservation portal.  We view this as an opportunity to rethink how to best market and support travel-related services on public lands. 

“Technology has taken huge strides over the past few years, and we believe there is tremendous opportunity to dramatically upgrade the way we interact with our customers.

For more detailed information, including registration for the “Explore Your America” event, please visit


Patrick Daly, Account Supervisor, Daly Gray, Inc.,
Office:  (703) 435-6293
Cell:  (703) 300-8289

 Lynne R. Beeson, R1S Program Manager,
(706) 213-8427

First Guardian Group Affiliates with Sperry Van Ness International to Expand Services Nationwide

SAN JOSE, CA. (Sept. 12, 2011) – First Guardian Group, a premier San Jose, Calif. commercial real estate firm, and Sperry Van Ness International, one of the nation’s leading commercial real estate organizations,  announced First Guardian Group is now an independently owned and operated franchise of Sperry Van Ness International. 

The firm will operate as Sperry Van Ness/First Guardian Group, located at 100 Century Center Court, Suite 503 in San Jose.  This affiliation comes on the heels of Sperry Van Ness International’s recent signings of Promus Commercial in San Diego, Calif. and Bluestone & Hockley Real Estate Services in Portland, Ore.

 “We are committed to continuing Sperry Van Ness’ national expansion through targeted and strategic partnerships with top-tier brokerage firms,” said Kevin Maggiacomo (top right photo), chief executive officer and president of Sperry Van Ness International.  “First Guardian Group has a proven track record and we are pleased to be aligning our service platforms to strengthen Sperry Van Ness’ reach."

Sperry Van Ness/First Guardian Group will specialize in investment sales, leasing, property management, commercial loans and investments for commercial, retail, multifamily, student housing, medical office and industrial buildings.  Since the firm’s inception, First Guardian Group has completed more than $450 million in transaction volume and currently manages four million square feet of commercial space.

Paul Getty and Dinesh Gupta (middle left photo), co-founders of First Guardian Group, will serve as managing directors for the Sperry Van Ness/First Guardian Group team.  Getty will focus on asset and property management for the firm, while Gupta will focus on TIC asset and portfolio management and disposition.

In addition, Erik Carlson will serve as senior advisor with Sperry Van Ness/First Guardian Group.

For more information visit

Contact:  Megan Morales, 714) 273-2472,