Tuesday, March 13, 2012

Berger Commercial Realty Corp. Reports New Transactions

 FORT LAUDERDALE, FL. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced one new sale and four new lease transactions.

 Senior Vice President Steve Hyatt (top right photo) represented SA Challenger, Inc. in the sale of an 8-unit apartment building, located at 2239 N.W. 87th Street in Miami, to Eugenie Levy for $180,000.

Vice President Judy Dolan (middle left photo), Principal Keith Graves (lower right photo) and Broker Associate Greg Milopoulos represented Oakland Center Associates, LTD. in the lease of 2,290 square feet of space, located at 3409 N.W. 9th Avenue in Fort Lauderdale, to SPA Defense.

Dolan, Graves and Milopoulos also represented Oakland Center Associates, LTD. in the lease of 4,676 square feet of space, located at 3233 NW 10th Terrace in Fort Lauderdale, to Cornerstone Recovery Center, Inc.
Dolan and Milopoulos represented Merrill Industrial Center in the lease of 4,071 square feet of space, located at 3402 S.W. 26th Terrace in Fort Lauderdale, to Toys “R” Us-Delaware Inc.

Graves represented 1600 17th Street Causeway, LLC in the lease of 4,352 square feet of space, located at 1600 17th Street Causeway in Fort Lauderdale, to South Florida Materials Corp, doing business as Vecenergy.


Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Lindsey Marmorstein
Pierson Grant Public Relations
6301 NW 5th Way, Suite 2600
Fort Lauderdale, FL 33309
P:  954-776-1999, ext. 255
F: (954) 776-0290

Marcus & Millichap Sells 188-Unit Apartment Building in Dunedin, FL

 DUNEDIN, FL, March 13, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Logarto Apartments (top left photo), a 188 unit Apartments property located in Dunedin, FL, according to Bryn D. Merrey, Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $7,300,000.

Michael P. Regan (middle right photo) and Francesco P. Carriera (middle left photo), investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a partnership. 

The buyer, a private investor, was also exclusively secured and represented by Michael P. Regan and Francesco P. Carriera.

Logarto Apartments is located at 257 Milwaukee Avenue and is comprised of 188 units.  The property is ideally located one mile east of US-19, a short drive from some of the area’s top beaches and in close proximity to numerous national and regional companies’ headquarters.
“This is a sheer example of how well located assets are in high demand and will demand a high price. This asset was only 70% occupied at the time of the sale and there were several down units” comments Carriera.

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

Lincoln Property Company Southeast Wins Leasing Contracts Totaling 450,000 SF of Metro Atlanta Office Space

ATLANTA, GA (March 13, 2012) – Lincoln Property Company Southeast has won leasing assignments for four metro Atlanta office properties owned by OA Development and totaling nearly 450,000 square feet.

 OA Development is based in Atlanta and has more than two decades of experience in the commercial real estate industry. In the last 13 months, OA Development has acquired 400,000 square feet of commercial real estate properties.

The properties Lincoln will handle include:

2400 Lake Park Drive (top left photo), a four-story, 104,000-square-foot building in Smyrna. The property is 82 percent leased.

Lakeview 400 (top right photo), a 135,000-square-foot office park in Alpharetta consisting of two, one-story buildings. The park is 93 percent leased. The payroll services firm ADP is the anchor tenant.

Northwoods Business Center (middle left photo), a 111,000-square-foot office park featuring three, one-story buildings in Norcross. The center is 70 percent leased.

Bluegrass Promenade (middle right photo), a one-story, 99,000-square-foot building at 1200 Bluegrass Lakes Parkway in Alpharetta. The building is presently 76 percent leased.

Michael Howell (lower left photo) and Hunter Henritze – both vice presidents, office leasing, for Lincoln Property Company Southeast – will oversee the leasing for OA Development.

“We believe that Lincoln Property Company Southeast’s experience, knowledge and talents are the perfect fit for these four properties,” said Brian Granath, a partner with OADevelopment. “We could not be more excited about the leasing future of these sites. They are in great hands.”

 “We are honored by OA Development awarding us these contracts,” said Tony Bartlett, senior vice president of Lincoln Property Company Southeast. “I know Michael and Hunter will do a fantastic job with these properties and will create great value for OA Development’s assets.”

For more information on the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com.

 To check out the blog, go to http://blog.lpcsoutheast.com.


Stephen Ursery
Wilbert News
(404) 965-5026

HFF secures $43 million financing for Encinitas Village in Southern California

IRVINE, CA – HFF announced that it has secured a $43 million financing for Encinitas Village (top left photo), a 183,675-square-foot retail center in Encinitas, California.

HFF worked exclusively on behalf of Terramar Retail Centers to secure the 10-year, fixed-rate loan through an affiliate of Hartford Investment Management Company. 

Encinitas Village is located at 105-133 North El Camino Real, north of the intersection of Encinitas Boulevard.  The retail center serves a residential population of more than 147,000 within a five-mile radius, with a median household income of $133,000. 

The center is 98 percent leased, and is anchored by Ralph’s Supermarket.  Additional tenants include CVS Pharmacy, Trader Joe’s, Citibank, US Bank, Chase Bank and Souplantation.

The HFF team representing Terramar Retail Centers was led by senior managing director Don Curtis (middle right photo).

“This latest financing is one of four loans HFF has placed with Hartford (the lender) in the San Diego area in the past seven months,” said Curtis.  “These loans represent $163 million of the more than $1 billion in life company business that HFF closed on the West Coast from the beginning of 2011 to the present.”

Terramar Retail Centers is a privately-held commercial investment, management and development company. 

Terramar has acquired, managed and leased more than 6.5 million square feet in its 15-year history.  The company currently owns and operates 22 neighborhood, community, specialty and power centers.  Terramar’s operating and development portfolio includes more than 3.7 million square feet of retail area throughout the western United States.

 For more information about the company, visit http://www.terramarcenters.com/. 
DONALD J. CURTIS                                       
Ca. Lic. #00883924                                          
HFF Senior Managing Director                         
(949) 253-8800                                                   

HFF Associate Director, Marketing
 (713) 852-3500

HFF arranges $11.75 million refinancing for Whole Foods-anchored center in Marlton, NJ


FLORHAM PARK, NJ – HFF announced that it has arranged an $11.75 million refinancing for Greentree Square (top left photo), a 110,296-square-foot, grocery-anchored shopping center in Marlton, New Jersey.

HFF worked exclusively on behalf of the borrower, Mainardi Management Company, to secure the 10-year, fixed-rate loan through Allstate Investments, LLC.  The loan will be serviced by HFF and is replacing an existing first mortgage loan on the property also arranged by HFF.

Greentree Square is situated on a 12.6-acre site at the intersection of Greentree Road and Route 73 in Marlton, about 10 miles east of Center City Philadelphia.  The 92 percent leased property is anchored by Whole Foods plus two pad sites occupied by TGI Friday’s and Citizen’s Bank.

The HFF team representing Mainardi Management Company was led by senior managing director Thomas Didio and senior real estate analyst Michael Cerulo. 

“The property is an example of how aggressive lenders will get to originate low leverage retail loans in our market.  Allstate secured a loan on a quality asset and we were pleased to arrange the debt for the Mainardi Family and Allstate,” said Didio.

The Mainardi Management Company is a family owned and operated commercial real estate investment, management and leasing firm located in Wayne, New Jersey. The firm, whose origins date back to 1929, currently manages approximately 1.25 million square feet of commercial space in the New York metropolitan area.

THOMAS R. DIDIO                                         
 HFF Senior Managing Director           
(973) 549-2000                                                

HFF Associate Director, Marketing
 (713) 852-3500

HFF closes $54 million sale of Penn Avenue Place in Pittsburgh’s central business district

PITTSBURGH, PA – HFF announced today that it has closed the sale of Penn Avenue Place (top left photo), a 558,000-square-foot, Class A office building in Pittsburgh’s central business district.

HFF marketed the property exclusively on behalf of the seller, an affiliate of Oxford Development Company.  Healthcare Trust of America, Inc. purchased the property for $54 million.

Penn Avenue Place is located at 501 Penn Avenue in Pittsburgh’s Golden Triangle district, near Allegheny General Hospital.  Originally built in 1907, the eight-story property was renovated in 1997 and is 99.6 percent leased to tenants including Highmark, Inc.

The HFF investment sales team representing the seller was led by senior managing director Mark Popovich (middle right photo).

Oxford Development Company is one of the largest privately-owned real estate services firms in Pennsylvania with its headquarters in Pittsburgh.  The company provides a wide variety of real estate development, asset/property management, real estate brokerage and investment advisory services.

Healthcare Trust of America, Inc. is a fully integrated, self-administered, self-managed real estate investment trust. Since its formation in 2006, HTA has built a portfolio of acquisitions that totals approximately $2.4 billion based on purchase price and is comprised of approximately 11.5 million square feet of GLA/

For more information on Healthcare Trust of America, Inc., please visit www.htareit.com.

HFF Senior Managing Director          
(412) 281-8714        
HFF Associate Director, Marketing
(713) 852-3500

McKenna Long & Aldridge LLP Completes Merger with Luce Forward Hamilton & Scripps LLP

ATLANTA, GA — McKenna Long & Aldridge LLP announced  that it has completed its merger with California-based Luce Forward, Hamilton & Scripps LLP (Luce Forward). 

The combined firm will continue to be known as McKenna Long & Aldridge (MLA), and building on the Luce Forward legacy, will have more than 575 attorneys and public policy advisors in 13 offices and 11 markets.  

“Our merger is about creating more value for our clients through an expanded network of attorneys and public policy advisers whose experience and expertise are exponentially more powerful when working together,” said MLA Chairman Jeff Haidet (top right photo).

 “Our complementary cultures and commitment to public service strengthen our ties to each other and to our communities.  Furthermore, our thought leadership and ability to leverage economies of scale enable us to deliver innovative opportunities and solutions for our clients.”

The combination of legal and public policy capabilities creates a firm that ranks among the top 70 largest law firms in the U.S. The firm has expanded legal capabilities in California and nationally, in real estate, litigation, corporate, family wealth, environmental, and employment practices.

 In addition, the integrated firm solidified its foothold as the top insurance practice in the U.S., representing some of the largest insurance carriers on the West and East coasts.

In California, MLA is now expected to rank among the 20 largest law firms, and the firm’s real estate practice, which is one of the oldest and most recognized in the state, will rank among the top three largest practices on the West Coast.  In Atlanta, the combined firm will be ranked in the top 15, based on revenue, and the firm’s leading real estate practice will be strengthened through a larger national presence.

“Our focus for the past 138 years has always been to provide our clients with the highest level of service and legal experience,” said Luce Forward Managing Partner Kurt Kicklighter (middle left photo), now Executive Partner at MLA for California.  “In combining with McKenna Long & Aldridge, we are able to build on the Luce Forward legacy and provide our clients with legal and business solutions across multiple legal specialties and on a national platform.”

The combined firm has extraordinary depth and breadth of legal and public policy talent, along with a significant focus on community service.  Through pro bono legal services, community service efforts, and the MLA Foundation, the combined firm supports over 230 charitable organizations each year.

 For more information on MLA and to view the firm’s new website, go to www.mckennalong.com.

Media Contacts:

Sabrina McGowan,
McKenna Long & Aldridge LLP

Michael Guzzo,
 Berkman PR