Saturday, October 15, 2011

NAI Realvest negotiates sale of industrial/flex condominium for $300,200 at South Park Business Center in Orlando, FL

ORLANDO, FL — NAI Realvest recently negotiated the sale of a 2,143 square foot industrial/flex condo at South Park Business Center (top left photo), 8600 Commodity Circle in Orlando.

 Tom R. Kelley, II, (middle right photo) CCIM, principal at NAI Realvest and managing partner/principal, Paul P. Partyka negotiated the transaction on behalf of the landlord, Miami-based South Park, LLC.

 HNN Investments, LLC a local privately held investment management firm purchased the property.     Angela Chapman of Century 21 Capital Realty Group represented the buyer in the transaction.

For more information, contact
Tom R. Kelley, II, CCIM, Principal, NAI Realvest, 407-875-9989 
Paul P. Partyka, Principal/Managing Partner, NAI Realvest 407-875-9989
Patrick Mahoney, President, NAI Realvest, 407-875-9989  
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142,

NAI Realvest Negotiates Two Lease Agreements totaling 7,000 SF at Monroe CommerCenter South in Sanford, FL

MAITLAND, FL --- NAI Realvest recently negotiated a renewal lease and a new lease totaling 7,000 square feet of industrial space at Monroe CommerCenter South (middle left photo) in Sanford.  

 Michael Heidrich, a principal in the firm, brokered the transactions on behalf of the landlord, COP-Monroe, LLC of Maitland. 

 Truck and auto parts and equipment supplier Advanced Van & Truck Equipment, Inc. renewed its lease of 5,000 square feet at 4154 Incubator Court. 

 The new tenant, Transit Designs, LLC, a screen printing company and design studio, leased 2,000 square feet at 711 Progress Way in Monroe CommerCenter South.

For more information,  contact
Michael Heidrich, Principal, NAI Realvest,  407-875-9989,;
Patrick Mahoney, President, NAI Realvest, 407-875-9989,;
Beth Payan, Larry Vershel Communications, 407-644-4142,    

Rachel Wein of WeinPlus: In Slow Growth Market, Specialization sets companies apart from the competition


ST. PETERSBURG, FL. --- Look for real estate owners and developers to specialize more and emphasize their strongest talents as the economy continues to grow slowly, says one top Florida management consultant.

Rachel Elias Wein (top right photo), AIA, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg, said that’s the most logical solution for developers in a slow-growth economy.

“The universe of real estate development projects is not increasing,” Wein said. “Real estate companies who want to maintain market share are going to have to focus on what they do best — what distinguishes them from the competition.”

Wein said one of her clients has focused efforts on specializing in sensitive projects likely to engender political controversy.

“They have a track record of developing solutions that address the needs of the local community and neighbors while maintaining focus on tenants and the bottom line,” Wein said.

“Another client specializes in redevelopment of older retail centers, making improvements, re-tenanting and making older centers shine like new,” she said.

“If you’re dealing in a commodity business, find a way to make your service unique to differentiate yourself and your company from the competition,” Wein said.

For more information, contact
Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-386-9346,;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142,

Grubb & Ellis Represents DCG Fulfillment in Lease of Nearly 190,000 SF in Eastvale, CA

 ONTARIO, Calif. (Oct. 12, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented DCG Fulfillment, a third-party logistics company, in its lease of 190,000 square feet of warehouse/distribution space located at 12430 Riverside Drive in Eastvale.    

 Mark Kegans (middle right photo), SIOR, and Ron Washle, SIOR, both senior vice presidents, Industrial Group, and members of the company’s Global Logistics practice group, represented DCG Fulfillment in the transaction. 

DCG Fulfillment took occupancy of the building immediately following the lease transaction.  The company now occupies approximately 700,000 square feet of space split between three buildings in the Inland Empire and expanded its operations with this new location, which it primarily uses for consumer-related products. 

 According to Kegans, the property was a good fit due to its Class A building features and proximity to the company’s existing locations. 

David Consani and Joey Sugar of CB Richard Ellis represented the owner of the property, Alere Property Group LLC, a Newport Beach-based investor and developer that has developed and acquired more than $950 million in assets since 2003, in the transaction.

Contact: Julia McCartney, Phone: 714.975.2230                                     

Downtown Glendale, CA Development Site Listed by IPA

 GLENDALE, CA – Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has retained the exclusive listing for City Center II, (top left rendering)  a 1.38-acre development site located at the corner of Wilson Avenue and Brand Boulevard in downtown Glendale. The property is being offered as an open bid.

Ron Harris, an executive vice president investments, and associate directors Paul Darrow and Joseph Smolen are representing the seller.

City Center II is located in a true infill location two blocks from the The Americana at Brand (lower left photo) lifestyle center, the Glendale Galleria (middle right photo) and dozens of local stores and restaurants along Brand Boulevard,” says Darrow. “The site is currently entitled for the construction an 18-story tower and a 20-story tower that combine for a total of 184 condominium units and 172 hotel rooms.” 

Although the current entitlements are being evaluated by a number of developers, many prospective buyers are considering re-entitling the site for a lower density mid-rise concept consisting of apartments over retail.

“The multifamily rental market has gained significant momentum, both in operations and values,” adds Harris. “Many developers are indicating that they find a mid-rise concept to be a more cost-efficient approach that will be better suited to current market conditions.”

Located at 111 N. Brand Blvd. in Glendale, the site will provide future residents and guests with easy walks to a wide variety of shopping and dining options, farmer’s markets, theatrical productions and dance shows.

Glendale offers a myriad of public and private transportation options for residents seeking to visit adjacent employment hubs, including downtown Los Angeles, Burbank and Century City.  

Glendale is the third-largest city in Los Angeles County with a population close to 200,000 and more than 1.4 million people within a seven-mile radius.

IPA is a division of Marcus & Millichap Real Estate Investment Services.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Marcus & Millichap Promotes Jason S. Ladner to Vice President Investments in Milwaukee Office

 MILWAUKEE, WI – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Jason S. Ladner (top right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an agent has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Matthew M. Fitzgerald (lower left photo), vice president and regional manager of the firm’s Milwaukee office.

 “Jason has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Fitzgerald. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

Ladner began his career with Marcus & Millichap in July 2005, specializing in the sale of retail properties.

Most recently, Ladner held the position of associate vice president investments.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

$30.43 Million Apartment Portfolio Hits the Market in Cleveland, OH

CLEVELAND, Oct. 14, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listings for four multifamily properties in Ohio. They are:

De Ville Apartments (top left photo), Beachwood, 190 units, 259,077 square feet, $15,100,000

Arbor Court (middle right photo), Mayfield Heights, 300 units, 265,750 square feet, $11,500,000

Beachwood Villa North (middle left photo), Beachwood, 28 units, 30,402 square feet, $1,915,000

Beachwood Villa South (lower right map), Beachwood, 28 units, 30,200 square feet, $1,915,000

The properties may be purchased together or separately.

 Michael Barron and Daniel Burkons, both vice presidents investments in Marcus & Millichap’s Cleveland office, are representing the seller, Wolf Real Estate Management LLC and The Goldberg Cos. Inc.

“The properties are all being offered by the original developer,” says Burkons. “They are located in two of Ohio’s most sought-after submarkets and are between 93- and 98-percent occupied.”

 De Ville Apartments, located at 23305 Chagrin Blvd. in Beachwood, is a three mid-rise-building apartment complex situated on 9.8 acres. Constructed in the 1960s, the buildings are nestled between trees above two large underground parking garages. The unit mix is 44 one-bedroom units, 114 two-bedroom apartments, 30 three-bedroom units and two five-bedroom apartments.

 Beachwood Villa North and Beachwood Villa South, located at the corner of Chagrin Boulevard and South Green Road at 3443 South Green Road and 3465 South Green Road, respectively, are both 28-unit apartment communities, offering residents easy access to the east side of Cleveland’s robust employment centers, shopping and fine dining.

Arbor Court Apartments consists of 34 buildings on 12.6 landscaped acres at 6484-6643 Maplewood Drive, adjacent to Mayfield Road and Route 271 in Mayfield Heights. The apartments are 93-percent occupied and have maintained high historical occupancy rates in Mayfield Heights’ strong rental market.

The property provides residents with easy access to city amenities such as the shopping and dining along Som Center Road and Mayfield Road. The Cleveland Clinic’s newly expanded Hillcrest Hospital and the world headquarters of Progressive Insurance are located within one mile of the property.

Beachwood, Ohio, is an affluent suburb of Cleveland with a highly rated school district.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716