Monday, October 3, 2011
MPV Compark Management LLC Selects Grubb & Ellis to Market 148 Acres of Land in Compark Business Campus in Parker, CO
DENVER, CO (Oct. 3, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that MPV Compark Management LLC selected the company to market for sale 148 acres of land within Compark Business Campus (top left photo), a 480-acre mixed-use development located at the intersection of the East 470 Tollway and Chambers Road in the Town of Parker.
Tom Wanberg and Steve Rahe, senior vice presidents, Investment Services, and members of the company’s Multi Housing Group, will market the land in conjunction with Mike Wafer, SIOR, senior vice president, Industrial Group, and member of the company’s Industrial Client Advisory Team and Global Logistics practice group, Craig Paton, vice president, Investment Services, and John Gustafson, senior associate, Office Group, and member of the company’s Healthcare Properties practice group.
“Compark Business Campus offers high visibility within a growing corridor and is well-located near regional transportation services and along a major thoroughfare,” said Paton, who has more than 27 years of experience in land sales. “Developers, owner-users and investors have the opportunity to acquire land zoned for nearly every use within a well-located, master-planned business campus.”
Located at the north end of Compark Business Campus, the land is split up into parcels zoned for office, medical office, industrial, flex, retail and multi housing use.
Since construction began at Compark Business Campus in 2001, approximately 160 acres of property sites have been completed that includes roughly 1 million square feet of retail, flex and office space, as well as two residential projects.
The campus is currently home to Rocky Vista University College of Osteopathic Medicine, American Furniture Warehouse, Baxa Corporation, Laboratory Corporation of America Holdings, dba as LabCorp, and Quantum Corporation.
The remaining 190 acres of land of the campus is currently zoned to be open space.
“We believe the park has matured and is now in a very strategic location within the growing corridor between Interstate 25 and Parker Road on the 470 Tollway,” said Mike Vickers, manager, MPV Compark Management LLC. “The opportunities are endless and we look forward to witnessing the business park and corridor’s expansion.”
Compark Business Campus is easily accessible via Interstate 25 and Denver’s Regional Transportation District light rail. It is situated within a few miles of Sky Ridge Hospital (middle left photo), Parker Adventist Hospital and Centennial Medical Plaza.
The property is also near Cherry Creek Regional Trail as well as a number of local schools within Douglas County and is adjacent to Arapahoe County Airport and approximately 30 miles from Denver International Airport.
Contact: Julia McCartney, Phone: 714.975.2230
Walker joined NAWIC in 1989, and after taking an Introduction to Construction course that her chapter was sponsoring, she was introduced to NEF.
“Education is a platform I have strongly promoted over the years, and believe it is the secret to the success of our NAWIC chapters,” says Walker, who, after getting her feet wet with the Introduction to Construction course, began organizing and facilitating NEF courses for her chapter. As a result of her commitment and devotion to NEF, she was asked to serve on the NEF board of trustees.
For more information, contact:
Corine A. Hall, CPSM
Marketing Manager WELBRO Building Corporation
Telephone: 407/475-0800 2301 Maitland Center Pkwy, Suite 250, Maitland, Florida 32751
PlayGolfPlanet.com and Fairways for Warriors Team Up to Organize Veteran’s Day Charity Golf Tournament at Eagle Creek Nov. 11
Tom Underdown, President for Fairways for Warriors, said the first annual Fairways for Warriors Veteran’s Day Golf Tournament has a noble mission: to raise more than $10,000 to buy a SoloRider golf cart equipped for the disabled.
“Fairways for Warriors is a 501(c) (3) non-profit corporation formed this year to bring the game of golf to combat-wounded veterans as a form of mental and physical rehabilitation,” Cameron Cress (middle right photo), founder and chief executive officer of PlayGolfPlanet.com, said.
“Relearning the fine motor skills required for golf helps accelerate the physical rehabilitation of disabled soldiers,” Cress explained.
The first annual Fairways for Warriors Veteran’s Day Golf Tournament is a 4-man scramble format and is open to all players for $60 per person which includes lunch.
Participants can take part in a silent auction that includes a golfing foursome at California’s famous Pebble Beach Golf Club (bottom left photo) with a caddy, a $2,500 set of Ping golf clubs, and golf foursome at Celebrations Golf Club, Legends Golf Club in Clermont, Kings Ridge Club in Clermont, the Golden Bear Club in Windermere, Eagle Creek Golf Club and the Ritz-Carlton Golf Club at Grand Lakes in Orlando, One day passes for six people to Universal Studios or Islands of Adventure.
In addition, a threesome for Bay Hill Golf Course – fourth will be the donating member - Dr. Jay Strack.
PlayGolfPlanet.com is a client company of the University of Central Florida Business Incubation Program in Kissimmee at 111 E. Monument Avenue.
For more information, contact
Tom Underdown, President Fairways for Warriors, 407-399-0977 Tom.Underdown@fairwaysforwarriors.org
Cameron Cress, Founder/CEO PlayGolfPlanet, 407-615-7106, email@example.com
Rafael Caamano, Site Manager Kissimmee UCF Business Incubation Program, 407-343-4300, Rafael.Caamano@ucf.edu
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 or LvershelCo@aol.com
Please visit www.incubator.ucf.edu and UCFBIP on Facebook.
RECI Finds Lackluster economic growth domestically and real estate capital markets poking along at a measured pace
CHICAGO, IL, Oct/ 3, 2011 -.The Real Estate Capital Institute's monthly Scoreboard finds that after investors returned from the summer holidays a few weeks ago, the demand is insatiable for quality assets of all classes as funds flood the market given minimal yields in the corporate and government bond markets.
However, substantial pricing gaps and desirability between core properties and non-core assets, as well as primary and secondary markets.
On a property by property basis, real estate capital markets are summarized as follows:
Multifamily - multifamily capitalization rates are near historical lows starting in the low 4% range in major markets along the Coast. The high-end range for Class C properties in secondary markets is 400 basis-points-or-more, again illustrating the dramatic difference in core versus non-core assets. Extremely low mortgage rates help drive down cap rates for this sector, especially with agency support -- often in the mid-3% range or more for Class A properties.
Industrial - Strong demand exists for credit deals with capitalization rates starting below 5% for the right tenant/lease profile. However, more typical properties trade in the 6% to 7.5% range. Expect a cautious growth in this sector based upon modest rental increases. With strong credit, longer-term mortgage rates hover in the 4% to 5% range.
Office - the saving grace with this sector is the lack of new supply. Rents are at, or near, the bottom with virtually no room for discounting. Value add and opportunity plays dominate suburban office market transactions, while CBD core assets in major markets trade near the peak levels of 2007 as institutional investors seek shelter in high quality assets.
Retail - Tenants are finding excellent opportunities to move into second-generation space vacated by bankrupt retailers. In most markets, a 4 to 5 year oversupply exists, although infill development opportunities may crop up. Developers are returning to more traditional retailing concepts including pharmacy and grocery-anchored centers, as online retailing makes more inroads into nonessential consumer spending. For the most part, lifestyle centers are the hardest hit categories. Pricing and financing mirrors other commercial property sectors, depending upon credit profile, etc.
Lodging - The lodging industry sales volume has nearly doubled from some of its historical lows. However, luxury and limited service projects, particularly in premier locations, still commands favorable capitalization rates as low as 6%; 8% or more is the norm for this sector for a vast majority of properties.
Jeanne Peck (top right photo), Research Director of the Real Estate Capital Institute, notes that "since interest rates are ridiculously low, ownership focus is on preserving values through cost-cutting and other proactive management measures."
She suggests, "The lending community is cautiously selective on financing new transactions, using lower leverage and stricter underwriting versus low interest rates as tools for getting deals committed and funded."
The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields. The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.
Furthermore, call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.
The Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Jeanne Peck, Research Director
DALLAS, TX – HFF announced today that it has arranged refinancing for the United Supermarkets Distribution Center (top left photo), a 198,000-square-foot industrial property in Roanoke, Texas.
HFF worked on behalf of the borrower, United Supermarkets, L.L.C., to secure the loan through Bank of America Merrill Lynch. Loan proceeds are refinancing a construction loan.
C. Brandon Chavoya, HFF Director, (214) 265-0880, firstname.lastname@example.org
Kristen M. Murphy, HFF, Associate Director, Marketing, (713) 852-3500, email@example.com
Contact: Buffy Gillette, Phone: 407.219.3500
The shopping enter is approximately 96 percent leased and includes a Starbucks outparcel.
Mark Joines (middle right photo) and Drew Fleming (bottom left photo), vice presidents at Cassidy Turley in Atlanta, acted in a transactional capacity. The buyer is a family trust based in South Carolina.
“Grocery-anchored centers, as a whole, continue to draw tremendous attention from the investment community,” Joines said. “Those with longer-term leases, credit-worthy tenants and less exposure to small-shop space are in particularly high demand.”
Recently, Cassidy Turley’s retail team also brokered the sale of a Kohl’s/Hobby Lobby anchored center in the Charlotte suburb of Rock Hill, S.C., and another Publix-anchored center in LaGrange, Ga.
On Sept. 1, Cassidy Turley completed its acquisition of the brokerage and property management businesses of Carter, a national leader in project development, commercial real estate services and investments.
Please visit www.cassidyturley.com for more information about Cassidy Turley.
Verde Vista to Offer Upscale Living Near Jobs, Shopping, Entertainment
ASHEVILLE, NC, Oct. 3, 2011 – Construction is underway on Verde Vista Apartment Homes (top left rendering), the City of Asheville’s newest infill apartment community.
The environmentally-friendly community will be just three miles from downtown. It is being developed through a joint venture between Greenville, SC-based Davis Property Group and Asheville-based Six Oaks, LLC. Six Oaks has owned the land since 2004.
The $20 million multifamily development will have 257 upscale residences on a 15-acre hillside offering spectacular views of Beaucatcher Mountain. Floorplans will include one, two- and three bedroom homes, as well as three-story townhomes.
“This project has a little something for everybody in terms of floor plan types and sizes, as well as rental rates,” said developer Russ Davis (middle right photo), founder of Davis Property Group. “Plus, this marks the first new construction of a top-quality apartment community of this scale, this close to downtown Asheville, in decades.”
Just off Bleachery Boulevard between Swannanoa Rd. and Fairview Rd., Verde Vista is close to the Fairview/I-240 interchange. This means quick and easy access to the entire metro area, including outdoor recreational activities. Plus, residents will be able to walk right next door to shopping and leisure activities at Riverbend Marketplace, as well as nearby River Ridge Shopping Center. It’s just minutes to Biltmore Village and Asheville Mall (middle left photo)
Verde Vista’s energy-efficient design is meant to help residents save on utility bills while helping the environment. The completed community will seek to obtain an ENERGY STAR certification.
ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping to minimize operating costs and protect the environment through energy efficient products and practices. The community will also feature charging stations for electric vehicles (EVs) such as the Chevy Volt and Nissan Leaf.
Amenities will include a resort-style pool with cabana and garden plaza, where residents can take yoga or pilates classes. The outdoor entertaining area will also have a kitchen and stacked stone fireplace. The clubhouse will boast a state-of-the-art fitness center, clubroom with large flat screen TV’s, computer lounge, coffee bar and free Wi-Fi access.
Each apartment will have a washer and dryer, nine-foot ceilings and plank flooring. Some buildings will have elevators. Pets will be welcome at the new community, which will also feature an enclosed dog walk area. Some residents may choose to rent individual garage space.
The buildings, designed by Watts Leaf Architects of Charlotte, will feature upscale architectural components to blend well with the surrounding community.
The general contractor is C.F Evans Construction Company of Orangeburg, SC. Charlotte’s Design Resources Group is the landscape architect. Asheville’s Civil Design Concepts is providing engineering services. Construction financing is provided by Bank of America. The first apartments are expected to become available in May of 2012.
Media contact: Russ Davis, Davis Property Group, LLC, (864) 232-7474
NAI Realvest Negotiates Two Lease Agreements with Fitness and Technology firms at office buildings in Longwood, FL and Southeast Orlando
ORLANDO, FL – NAI Realvest recently completed two new lease agreements for office space in Longwood and in southeast Orlando.
The new tenant Orlando-based Altenesol, LLC – who was represented by Paul P. Partyka, managing partner at NAI Realvest – is a firm that specializes in compressed natural gas for filling stations and associated technology.
The West, Cichocki and O’Connor team has completed multiple new leases and renewals at Citadel III this year, increasing its occupancy to over 86 percent.
For more information, contact: