Tuesday, September 13, 2011
“Mahan Village, with its strong infill location and first-rate anchor tenants, represents the perfect type of development for this point in the investment cycle,” said Michael Cohn (middle right photo), executive vice president of retail investments, leasing and asset management for Cousins Properties.
“We are very excited to partner with Cousins on another deal and think the extension of this relationship and redevelopment arena will be a desirable ongoing business model for both companies,” said W. Neal Freeman, President of Watkins Retail Group.
Mahan Village will be anchored by Publix Supermarket (45,600 square feet and scheduled to open November 2012) and Academy Sports & Outdoors (67,664 square feet and scheduled to open October 2012).
The Publix Supermarket will be relocated and expanded from an existing, undersized store located directly across the street. In addition, the project will contain approximately 30,000 square feet of local shop and restaurant space. Mahan Village is 79% preleased.
Earlier this year, Cousins announced a partnership with Watkins Retail Group to develop Publix-anchored neighborhood shopping centers in Florida and Tennessee. This will be the second project the two companies have partnered.
York Stock Exchange under the symbol CUZ.
For more, please visit www.cousinsproperties.com.
Cousins Properties Incorporated
Director of Investor Relations and Corporate Communications
Ling & Louie’s Asian Bar & Grill Franchise Planned for Reno, Nevada; Will Be Fifth Market for Popular Restaurant Concept
The Ling & Louie’s concept, created and owned by Scottsdale-based Ling & Louie’s, LLC, has been a hit because of its combination of energetic atmosphere, critically acclaimed cuisine and innovative drink menu. As a result, Ling & Louie’s is continuing development of corporate and select franchised locations.
Savory Investments, LLC was founded by brothers Rory and Sean O’Neal. They have more than 20 years of experience in the restaurant industry, including with restaurant concepts such as Famous Dave’s, Crocodile Café, California Café and Paragon Steakhouse. The Reno location will be the first Ling & Louie’s for the company.
“We’re very pleased to bring the Ling & Louie’s concept to the Reno, Nevada, market,” said Randy Schoch (middle right photo) Founder and CEO of Ling & Louie’s. “Savory Investments and the O’Neals are ideal partners to make the concept a big success in this growing marketplace, and we’re excited about the potential for Ling & Louie’s in such a thriving new location.”
“Savory Investments, LLC is excited to partner with Ling & Louie’s, LLC on this new location of Ling & Louie’s Asian Bar & Grill,” said Rory O’Neal with Savory Investments. “Ling & Louie’s is a fun and entertaining concept with a great menu and a strong organization supporting it, and we believe it will be a home run in the Reno marketplace.”
Ling & Louie’s Asian Bar & Grill was founded in 2006 and currently has six locations open across the western United States. Several more locations are planned for opening in the next few years, and the company is aggressively looking to franchise and expand nationwide.
For more information, please visit www.lingandlouies.com.
Ling & Louie’s
Paul Shashaty, 480-320-8326
For Ling & Louie’s
Tom Evans, 602-448-5483
Celebrity Chef Allen Susser, Real Estate Kingpin Tom Prakas and Renowned Developers George and Lee Heaton to Launch ‘Burger Bar’ in South Florida Beginning October 2011
For more information or to schedule a media interview, contact Michelle Soudry at The Gab Group at (561) 750-3500 or email firstname.lastname@example.org.
Commercial/Multifamily Mortgage Delinquencies Down in Second Quarter for Four of Five Major Investor Groups
"The delinquency rate for loans held in CMBS continued to rise during the second quarter and reached the highest level since the series began in 1997, although the rate of increase continues to moderate."
To view the report, please visit the following Web link: www.mortgagebankers.org/files/Research/CommercialNDR/2Q11CommercialNDR.pdf.
CONTACT: Matt Robinson. (202) 557-2727, email@example.com
ORLANDO, FL, /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") announced that it has closed an underwritten public offering of 9,200,000 shares of common stock at a price of $26.07 per share, which includes 1,200,000 shares sold to the underwriters pursuant to the full exercise of their option to purchase additional shares.
The Company estimates that the net proceeds from the offering will be approximately $229.4 million, after deducting the underwriting discount and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay borrowings under its credit facility and for general corporate purposes, which may include future property acquisitions.
Citigroup, Wells Fargo Securities and BofA Merrill Lynch acted as joint book-running managers for the offering. RBC Capital Markets, Raymond James and Stifel Nicolaus Weisel acted as senior co-managers for the offering.
Also, Janney Montgomery Scott, UBS Investment Bank, BB&T Capital Markets, Morgan Keegan, PNC Capital Markets LLC, Piper Jaffray, SunTrust Robinson Humphrey, Capital One Southcoast and FBR Capital Markets acted as junior co-managers for the offering.
Contact: Kevin B. Habicht, Chief Financial Officer, +1-407-265-7348
NAI Realvest Negotiates New Long-Term Lease for Office Space at Oaks Professional Center in Lady Lake, FL
ORLANDO, Fla. – NAI Realvest recently negotiated a new 10½-year lease agreement for 2,894 square feet office space in Suites D1-E1 at Oaks Professional Center, 8575 138th Lane in Lady Lake.
Jack W. Lynch (top right photo), senior broker associate at NAI Realvest negotiated the transaction representing the landlord, 138th Place Properties, LLC of Windermere,
The new tenant is Florida Cancer Institute–New Hope, based at The Villages. Eric Poole of CB Richard Ellis represented the tenant in the transaction.
Jack W. Lynch, NAI Realvest 407-875-9989 or http://firstname.lastname@example.org%20
Patrick Mahoney, President, NAI Realvest 407-875-9989 http://email@example.com%20
Beth Payan, Larry Vershel Communications 407-644-4142 http://firstname.lastname@example.org%20
Central Florida Multi-Housing Group
Shelton Granade, Senior Vice President, T 407.839.3103,
Luke Wickham, Director of Operations, T 407.839.3130,
ATLANTA, GA--Space is leasing up fast at 3405 Piedmont (top left photo).
Back in July, a prime 40,000-square-foot block of class A office space became available in the building. The space has generated a lot of interest and last week Windsor Health Group, Inc., signed a 13,500-square-foot lease for five years.
Leigh Braswell (middle right photo) and David Danhof (lower left photo) from Lincoln Property Company Southeast represented the landlord. Brad Taratoot of the Taratoot Company represented the tenant.
Headquartered in Nashville, Tenn., Windsor Health Group is a managed healthcare company operating government sponsored health plans and providing specialty managed care services to both the insurance and healthcare providers. It is a division of Sterling Health Plans, which is a subsidiary of Munich Re. The company plans to move into the building in November 2011.
"We have made fast progress with leasing recently vacated space in 3405 Piedmont," said Danhof. "We still have some great opportunities available for organizations seeking space in Buckhead's professional and financial services district.
Which markets are best positioned for a recovery, and why?
Industry experts from the Urban Land Institute (ULI) will answer these questions and discuss other timely industry topics during the institute's upcoming Fall Meeting & Urban Land Expo, set for October 25 - 28, 2011 at the Los Angeles Convention Center.
Among the general session keynote speakers:
-- Dr. Robert Gates (top right photo), United States Secretary of Defense (2006-2011) will
share his perspective on international matters, experiences in global
politics, and leadership in the international sphere.
-- Eli Broad (middle left photo), Founder, the Broad Foundations, will share how he applied
business acumen to charitable giving in order to create venture
philanthropy and encourage entrepreneurship.
-- Tim Leiweke, President & CEO, AEG, will discuss AEG's global vision and
expansion which includes the development of large multi-use projects in
addition to several sports franchises.
CONTACT: Trisha Riggs, +1-202-624-7086, email@example.com or Robert Krueger, +1-202-624-7051, firstname.lastname@example.org
Web Site: http://www.ulifall.org
EagleBridge Capital Arranges $11.6 Million Financing for New Beacon Street Retail Property in Brookline, MA
Boston, MA -- Brian D. Sheehan (middle right photo) and Ted M. Sidel (lower left photo) of EagleBridge Capital have arranged mortgage financing in the amount of $11,600,000 for 1285 Beacon Street (top left photo), Brookline, Massachusetts, located in the Coolidge Corner section of the city. The financing was placed with a leading commercial real estate fund.
1285 Beacon Street is a two-story 36,350 square foot retail building with an architectural block and granite façade and two levels of underground parking with 50 spaces. The building’s two stories and the two levels of underground parking are served by an elevator.
Tenants include Staples, Bodyscapes, a fitness and health club, and The Meat House, a premium quality butcher shop. 1285 Beacon, completed in 2008, is one of the only completely new retail buildings to be built in the Coolidge Corner district in the last decade. The building replaced a gas station which had occupied the site on the corner of Beacon Street and Charles Street for many years.
Coolidge Corner is one of the most vibrant retail areas in all of Brookline. Located within the immediate area are stores, restaurants, office buildings, banks, apartment buildings and condominiums. The MBTA Cleveland Circle-Beacon Street Green Line which connects Brookline to Boston has a stop on Beacon Street near the entrance to the building.
Mr. Sheehan and Mr. Sidel stated, “We were able to come up with an innovative financing structure which allowed the owner maximum flexibility. We are pleased to have played a part in this very innovative project. ”
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for retail buildings, shopping centers, condominiums, apartments, office, industrial, and r & d buildings, hotels, and mixed use properties as well as special purpose buildings.
Contact: Ted Sidel, (617) 292-7177, Ext. 10