Tuesday, January 24, 2012

NAI Realvest negotiates new Lease of 7,500 SF for Massey Services’ Orange City, FL Office

ORANGE CITY, Fla. – NAI Realvest recently negotiated a lease agreement for 7,500 square feet of office/warehouse space at 830 South Volusia Ave. in Orange City.  

Michael Heidrich (top right photo), principal at NAI Realvest, based in Maitland,  brokered the transaction on behalf of landlord John T. Mahoney of Winter Park.

The new tenant is Orlando-based Massey Services, Inc. who relocated its Orange City offices from another nearby industrial facility in the area.

For more information, please contact:

Michael Heidrich, Principal, NAI Realvest 407-875-9989 mheicrich@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan or Larry Vershel, LV Communications, 407-644-4142 Lvershelco@aol.com

Incentive Properties, Inc. opens offices in Altamonte Springs, FL

ALTAMONTE SPRINGS, FL --- Incentive Properties, Inc. has opened new offices at 445 Douglas Ave. Suite 2205-D  in Altamonte Springs.

 Joseph Schwartz (left) and Andy Katzman (right), partners and principals at Incentive Properties, said the firm helps investors acquire real estate properties.

 “Our focus is to help investors obtain a 15 percent return on their real estate properties,” Schwartz said.

The firm has been in business a little over a year and, according to Schwartz, has more than 30 working portfolios now and adding more and more on a daily basis.

 For more information, contact:

Winston Schwartz, President, Winston-James Development, Inc. 933 Beville Rd., South Daytona, FL  32119; PH: 386-760-2555
Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Value, Accountability are Keys to Success in Professional Consulting Practice WeinPlus’s Rachel Elias Wein Tells MArch Candidates

ST. PETERSBURG, FL --- Value and accountability are the most important keys to a successful professional practice, according to Rachel Elias Wein (top right photo), founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg.

Wein, who addressed students in the Masters in Architecture program at the University of Florida (middle left photo) recently, said the economic downturn has increased demand for these metrics in all segments of professional consulting.

“Value and accountability are objective measures and successful professionals demonstrate and document those measures to their clients in ways the clients can grasp enthusiastically,” Wein said.

“Professional consultants typically view a project in ways managers don’t,” Wein told the group.

“There is always a temptation for consultants to perpetuate a problem — as the problem exists the consultant still has work to do and fees to bill. That perspective has negative consequences for the individual and the profession. Clients won’t want to hire you and colleagues won’t want to work with you,” Wein said.

“You’re not here to sell your services,” Wein said. “You’re here to help your clients succeed.”

Wein, whose professional credentials include Masters Degrees in both architecture and real estate, said successful consultants today can document the value of their contribution toward a project.

“When I do project planning, I aim to generate a return of 10 to 15 times my fees for the client.    If that sort of return is not feasible — if I can’t generate 10 to 15 times the profits a client is paying for — we’ll stop,” she said.

For more information, contact

Rachel Elias Wein, AIA, Principal, WeinPlus, 727-386-9346, www.weinplusassociates.com
Larry Vershel, Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

HFF secures $56 million refinancing for student housing community near San Diego State University

SAN DIEGO, CA – HFF announced today that it has secured a $56 million refinancing for Sterling Collwood (top centered photo), a 260-unit, Class AA student housing community near San Diego State University (SDSU) (top right photo) in San Diego, California.

Working exclusively on behalf of AIG Global Real Estate Investment Corp., HFF placed the seven- year, 4.57 percent fixed-rate loan with M&T (FNMA).  Loan proceeds are refinancing an existing construction loan.

Completed in 2010, Sterling Collwood has three residential buildings with studio, two- and four-bedroom furnished and unfurnished units averaging just over 1,400 square feet each. 

The property is the first “LEED-Gold certified asset” in San Diego and is one of the newest and only major developments built in the immediate college area in the past 20 years.

 Community amenities include a resort-style pool, fitness center, on-site bicycle storage and shuttle service to and from SDSU.  The 99 percent leased property is situated on nearly seven acres at 4249 and 4949 Collwood Boulevard less than one mile from campus. 

The HFF team representing the borrower was led by managing director Matthew Schoenfeldt (middle left photo) and associate directors Zach Koucos (lower right photo) and Zack Holderman (lower left photo)  

“Demand for off campus housing is about 15,000 units more than what the local area is currently providing, thus positioning Sterling Collwood for long-term success,” said Koucos.

AIG Global Real Estate Investment Corp. is a wholly owned subsidiary of AIG, Inc


MATTHEW SCHOENFELDT              ZACHARY KOUCOS                          
HFF Managing Director                       HFF Associate Director                
(312) 528-3650                                    (858) 812-2351                               
mschoenfeldt@hfflp.com                     zkoucos@hfflp.com                        

 HFF Associate Director, Marketing
(713) 852-3500

Industry veteran Martin McDermott joins Avison Young in Los Angeles

LOS ANGELES, Jan. 24, 2012 /PRNewswire/ - Neil Resnick (lower left photo), Avison Young Principal and Managing Director of the company's West Los Angeles office, announced today that commercial real estate broker Martin McDermott (top right photo) has joined Avison Young'sbrokerage operations in Los Angeles.

Effective immediately, McDermott joins Avison Young as a Principal. Based in the company's West Los Angeles office, he will continue to focus on office and retail property transactions while also helping to further Avison Young's expansion in Los Angeles and Southern California.

"The addition of Martin McDermott to the West Los Angeles office of Avison Young adds a great new dimension and depth to our broker ranks. His background in identifying creative opportunities for his users is uncanny and has allowed him to gain a reputation of being an innovative problem-solver," comments Resnick.

McDermott brings diverse professional experience to his new role. Prior to joining Avison Young, he served as Vice-President of Transaction Services at Grubb & Ellis Company for nine years. In 2009 and 2011, he was ranked number one in sales in Grubb & Ellis' West Los Angeles office, and also gained a top-10 standing in 2007 and 2008.

Contact: Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Gaedeke Group Unleashing New Force at Darth Vader Building in West Palm Beach, FL

 Owner investing $500,000 to Develop  Force Fitness Center

WEST PALM BEACH, FL – The iconic Northbridge Centre, aka the Darth Vader Building (top left photo), will soon become a dynamic force for downtown tenants and the general public to fulfill their quests to stay fit.

Gaedeke Group LLC will invest more than $500,000 to build out and equip ground-floor space in the property's four-story pavilion as a new amenity for the marketplace.

The 5,700-sf Northbridge Fitness Center is part of the Dallas-based owner's 2012 strategy for its downtown landmark, which is located just steps from the Palm Beach County Judicial Center and boasts unobstructed upper-floor views of the Atlantic Ocean and Intracoastal Waterway.

 Also, the owner's initiatives include seeking LEED certification from the U.S. Green Building Council for the Energy Star-rated, 239,233-sf high rise and 49,000-sf pavilion at 515 N. Flagler Dr.

Kirk Fetter (top right photo), Gaedeke's vice president of leasing, admits it was tempting to brand the new amenity as "Force Fitness" in keeping with Darth Vader imagery. But, tradition prevailed:  it will be christened Northbridge Fitness Center.

The new fitness center will include full shower facilities, locker rooms and dedicated space for massage therapy, aerobics, Pilates and Yoga. Also, the plan calls for on-site fitness pros and state-of-the-art cardio equipment, free weights, treadmills, rowing machines and elliptical trainers.  Construction is slated to get under way in 30 to 45 days.

 "We think there's a need for a high-end facility in the downtown market," Fetter says.

Northbridge Centre's new amenity effectively primes the balance of the vacant pavilion's class A space for medical office uses, including sports- and fitness-related specialists who will be within a half-mile of Good Samaritan Hospital.

Northbridge Fitness Center will open in late spring. The facility will be card key-accessible seven days a week.

Skinned in black glass and black metal, the 21-story Northbridge Centre was dubbed the "Darth Vader Building" in 1983 because its north face silhouette closely resembles the imposing helmet of the fearless Star Wars character.

Some owners might wince at the connection, but not Gaedeke Group, which last spring decided to ensure the nickname would remain part of the building's allure with a tongue-in-cheek video.

Contact:  Kirk Fetter, 561-515-7407

CalPERS Board Re-Elects Rob Feckner President and George Diehr Vice President

 MONTEREY, CA – The California Public Employees’ Retirement System (CalPERS) Board of Administration  unanimously re-elected Rob Feckner (top right photo) as Board president and George Diehr (top left photo) as vice president for 2012 during the Pension Fund’s annual winter offsite Board meeting.

Terms for the president and vice president are one calendar year. Feckner is serving his eighth term as president and Diehr is serving his fifth term as vice president.

CalPERS also announced that its investment portfolio earned a small, but positive 1.1 percent return for the 12-month period ended December 31, 2011.

Feckner is elected to the CalPERS Board by the Pension Fund’s school members. He was first elected in 1998. In addition to being Board president, Feckner chairs the Board’s Governance committee, is vice chair of the Benefits and Program Administration committee, and is a member of the Investment, Health Benefits, and Ad Hoc Risk Management committees.

Diehr, who is elected by State employees, including employees of the California State University system, was first elected to the CalPERS Board in 2002. In addition to serving as vice president, he chairs the Investment and the Benefits and Program Administration Committees, and is vice chair of the Board’s Governance committee.

According to CalPERS investment staff, due to the high volatility of global equity markets in 2011 (caused in large part by the ongoing Euro debt crisis and the slowing of global economic growth) the Fund experienced a 7.9 percent loss in its public equity asset classes. CalPERS U.S. equity portfolio lost .03 percent, while its international equity assets declined 13.9 percent.

All other CalPERS asset classes had positive returns. CalPERS private equity and fixed income investments both earned a 12.4 percent return. Real estate investments returned nearly 10 percent, while inflation linked assets earned 8.4 percent.

CalPERS 1.1 percent return beat the Pension Fund’s policy benchmark – the return expected from CalPERS asset allocation mix – by 0.2 percent.

“We’ve been saying for a long time that we’re facing a challenging investing environment,” said Joseph Dear (middle right photo), CalPERS Chief Investment Officer. “The shock waves of the last year in particular created a crisis of confidence that’s still impacting all investors.

“At the same time, the volatility can provide us with real opportunities, and we have the size and liquidity to take advantage of those opportunities. I am confident that we have the right strategy in place to achieve our investment goals over the long term.”

External Affairs Branch
(916) 795-3991
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs

Alamo Drafthouse Announces New Franchise Partner Cojeaux Cinemas

AUSTIN, TX /PRNewswire/ -- Alamo Drafthouse Cinemas is pleased to announce plans to expand locations in the Washington D.C. metro and surrounding areas with new franchise partner Cojeaux Cinemas. 

The first location being opened by Cojeaux Cinemas is Alamo Ashburn in One Loudoun, located in Loudoun County, Virginia.

.  Alamo Drafthouse signed a development agreement with Cojeaux Cinemas in August 2011 that includes Washington D.C. and the surrounding market areas in Virginia and Maryland.  Cojeaux Cinemas is currently pursuing additional locations to expand the presence of Alamo Drafthouse Cinema within Washington D.C. proper and the surrounding metropolitan areas over the next five years. 

Cojeaux Cinemas is made up of President Anthony Coco, Executive Vice President Joseph Edwards and partners Roy Spence, Judy Trabuls, Mary Spence and Shay Spence.  The advisory board members include Rusty Coco and Tara Coco.

Anthony Coco, Joseph Edwards and Russell Coco come from Deli Management, Inc., the company that operates 230 Jason's Deli branded restaurants throughout the United States. 

Contact:  Brandy Fons, (310) 809-8882, brandy@fonspr.com