Wednesday, April 25, 2012

Voit Real Estate Services Directs $24 Million Sale of Class A Inland Empire Office Property

INLAND EMPIRE, CA (April 24, 2012) –Voit Real Estate Services’ Irvine and Anaheim offices have successfully directed the $24 million sale of three office buildings encompassing 282,760 square feet in the Corona Summit Corporate Center (top left photo), on behalf of the seller. 

The property is comprised of three Class A, mixed-use office buildings, located at 2375, 2390 and 2455 Anselmo Drive in Corona, Calif.

John Griffin and John Harty of Voit’s Irvine office worked with Rob Socci and Peter Castleton of Voit’s Anaheim office to represent the seller, Corona Summit LLC, in the transaction. 

“This sale is representative of the ongoing strength of investor interest in the Inland Empire market,” said Griffin. “We knew that this vacant property presented an excellent value-add opportunity for investors, and we launched an extensive marketing campaign which resulted in more than 25 offers.

“ The competition amongst potential buyers allowed us to secure favorable terms for our client, while negotiating a deal that was beneficial to both parties.”

The buyer, Latham Management and Consulting, plans to occupy a portion of the property and lease out the renaming space.

The property is located adjacent to the 91 Freeway at McKinley Street in the City of Corona.


Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940

HFF arranges $75 million refinancing for Westin DFW Airport in Dallas area

NEW YORK, NY – HFF announced today that it has arranged a $75 million refinancing for the Westin DFW Airport, a 506-room hotel situated near the Dallas/Fort Worth International Airport in Irving, Texas.

Working exclusively on behalf of Investcorp International, Inc. and The Procaccianti Group, HFF secured the adjustable-rate loan through J.P. Morgan Chase Bank N.A.  The loan will be serviced by HFF.

The Westin DFW Airport is located at 4545 West John Carpenter Freeway northwest of downtown Dallas and less than two miles from the Dallas/Fort Worth International Airport.

 In addition to guest rooms, the property offers 29 meeting spaces totaling 38,000 square feet, the largest being a 10,541-square-foot ballroom.  Renovated in 2007, the hotel features 24-hour room service, a business center, dry cleaning service, concierge service, restaurant with bar and lounge, fitness center and outdoor heated pool.

 The HFF team representing the borrower was led by senior managing director Mike Tepedino (top right photo), managing director John Bourret (middle left photo)and associate director Michael Gigliotti (lower right photo).

Investcorp is a global investment group with offices in London, New York and Bahrain and has more than 300 employees worldwide.  The Investcorp real estate team is an established, well-capitalized, value-oriented real estate investor with a distinguished 30-year track record of success, having completed transactions with an aggregate value of nearly $43 billion globally.    

The Procaccianti Group (TPG), founded in 1964, is a second generation, privately-held real estate investment and management company with a broad national platform that spans all sectors of real estate. Throughout five decades, the company has owned or managed hundreds of real estate assets surpassing 50 million square feet with a value of more than $5 billion.


MICHAEL TEPEDINO                               
HFF Senior Managing Director             
(212) 245-2425                                                         

 MICHAEL GIGLIOTTI                       
HFF Associate Director              
(212) 245-2425                               

HFF Managing Director
(214) 265-0880

HFF Associate Director, Marketing
(713) 852-3500

Franklin Street to Manage 79 Recently Closed Store Locations in Five Southeastern States

 TAMPA, FL. (April 25, 2012) – Franklin Street Management Services has been hired to manage 79 recently closed grocery store locations, providing facilities management services for locations in five Southeastern states totaling over 2 million square feet.
Franklin Street Management Services, a subsidiary of Franklin Street, was already providing facilities management services for 19 other store locations, along with full-service management services for three other shopping centers, bringing its total number of closed grocery store locations under management to 101.

The stores are located in Florida, Georgia, Kentucky, South Carolina and Tennessee.

 The challenge is to manage a geographically diverse collection of locations that range from larger cities, like Jacksonville, Fla., and Nashville, Tenn., to smaller towns like Warner Robins, Ga., and Mt. Sterling, Ky. The work involves ensuring that proper security and maintenance are in place, controlling operating costs such as utilities, and coordinating such tasks as move-out inspections when properties change hands.

 “In this situation, every location has unique needs, and we have quickly gotten to know the people involved and their needs, so we can both respond quickly and help prevent problems before they happen,” said Doug Linneman, Vice President of Management Services for Franklin Street.

 The engagement is fueling the growth of Franklin Street’s retail management group, which now includes six professionals based in Tampa, Atlanta and Jacksonville. The company has hired three new employees in the past several months to support its efforts.


Noelle Anderson, APR
Principal & President
True Blue Communications

North American Properties Wins Approval for $600 Million Avalon Development in Alpharetta, GA

 ATLANTA, GA – North American Properties (NAP) received key approvals Monday night to develop a resort-inspired mixed use project in Alpharetta, Ga.

When Avalon opens in October 2013, the $600 million project will be the Southeast’s first experience center —  a place where high-end retail, restaurant, residential, office, hotel and public spaces come together to create a truly unique destination.

NAP’s vision for Avalon is based on the belief that there has been a shift in howconsumers spend their leisure time and disposable income.  In order to compete with e-commerce and lure shoppers into stores, retailers must deliver a lifestyle brand experience.  By creating mixed use developments with energy and round-the-clock activity, developers like North American Properties amplify retailer efforts by making every guest’s visit memorable.

 “Alpharetta is an affluent community and locals want and deserve a luxury shopping experience they can’t currently find in the Southeast,” Mark Toro (top right photo), managing partner at NAP, said Monday night after the Alpharetta City Council approved the project. “We are thrilled that the Alpharetta community has embraced our vision for Avalon.”

For a complete copy of the company’s news release, please contact:

Caroline Wilbert
Wilbert News Strategies
404-­‐965-­‐5021 (O)
404-­‐405-­‐6479 (C)

Industry Veteran Jack Van Berkel Joins Christenson Advisors as Partner and Managing Principal

 OAKBROOK TERRACE, IL – Christenson Advisors announced today that industry veteran Jack Van Berkel (top right photo) has joined the firm as a partner and managing principal.

Based in the firm’s Newport Beach office, he will play a key role in building Christenson’s brand as a full service real estate consulting company. 

 Van Berkel brings a decade of commercial real estate experience that includes leadership positions at both Grubb & Ellis Company and CB Richard Ellis.

“We are thrilled to have Jack join Christenson Advisors,” said Kevin Christenson, founder and managing principal of CA. “His extensive experience and relationships across the real estate world will add tremendous value to our company.”

Van Berkel joins CA from Grubb & Ellis Company, where he was executive vice president, chief operating officer and president, Real Estate Services since 2007.

During that period, he oversaw the expansion of the firm’s real estate services capabilities, including the formation of Grubb & Ellis Landauer Valuation Advisory Services, which in less than two years has grown to become one of the industry’s leading full service appraisal firms.

During his tenure, he also was responsible for the recruitment of more than 250 senior brokerage professionals into the organization.

 Earlier, Van Berkel spent more than four years at CB Richard Ellis as senior vice president, Human Resources. He was instrumental in the successful integration of Insignia Financial Group and Trammell Crow into CB Richard Ellis' organization.

 Prior to joining CB Richard Ellis, Van Berkel held senior global human resource, operations and sales positions with First Data Corporation, Gateway Corporation and Western Digital.

 “I am excited to draw from my experience at two of the world’s largest real estate services companies to help better serve Christenson’s expanding client base,” said Van Berkel. “I have deep respect for Kevin and all of the CA professionals, having relied on them in my previous roles.  I’ve been impressed with the firm’s growth over the last four years and am looking forward to playing an integral role in its future success.”

 Christenson Advisors is a full service real estate consultancy firm which provides customized, hands-on executive recruiting, compensation consulting, financial advisory and management consulting services to the global real estate industry.

The Company was founded in early 2008 and is headquartered in Chicago with satellite offices in Dallas, Los Angeles and New York.  CA is a recognized leader in providing creative, strong, and enduring solutions to public and private real estate organizations in an ever-changing market. 

 Additionally, CA Funds Group, Inc., a sister company of CA, is an SEC registered broker-dealer focused exclusively on providing capital raising and related advisory services to the global real estate industry.

 For more information, go to


Julie McCartney                                                                       

NAI Realvest Negotiates $870,000 Sale Price for 12+ Acre Development Site in Poinciana Office & Industrial Park in Osceola County, FL

MAITLAND, FL – NAI Realvest recently completed the $870,000 sale of a 12.51-acre industrial development site at Poinciana Office and Industrial Park on Poinciana Blvd. and U.S. Hwy.17-92 in Poinciana, Osceola County.

 NAI Realvest Principals Robert Blackwell (top right photo), SIOR and Michael Heidrich (top left photo) negotiated the transaction representing the seller Avatar Properties, Inc. of Coral Gables. 

Red Apple at Poinciana, LLC a Fort Lauderdale-based developer, bought the site designated as Tract H in the industrial park and plans to develop a charter school. 

Dan Shalloway of Sperry Van Ness represented the buyer.

For more information, contact:

Robert Blackwell SIOR or Michael Heidrich, Principals at NAI Realvest, 407-875-9989
Patrick Mahoney, President NAI Realvest , 407-875-9989;
Beth Payan, Larry Vershel Communications, Inc. 407-644-4142

NAI Realvest Negotiates Two New Lease Agreements for more than 4,000 Square Feet at Industrial Facility in Longwood, FL    

MAITLAND, FL – NAI Realvest recently negotiated two new lease agreements totaling 4,125 square feet of industrial space at 853 Waterway Place in Longwood.

 NAI Realvest Associate Michael Heidrich, Jr. (middle right photo), was the lead broker for both transactions, representing the landlord and the local tenants, along with Michael Heidrich Sr., Principal at NAI Realvest. 

NACB, Inc. leased units 125 and 141 totaling 2,875 square feet at the facility and Gene Lagardo leased unit 133 with 1,250 square feet. 

 The building is now 100 percent leased with the owner occupying the other 3,375 square feet of the 7,500 square foot building which Heidrich, Sr. sold to them in January of 2010 for $385,000.

 For more information, contact

Michael Heidrich, Jr., Associate, NAI Realvest 407-875-9989 or
Michael Heidrich, Principal, NAI Realvest 407-875-9989 or
Patrick Mahoney, President, NAI Realvest 407-875-9989
Beth Payan, Larry Vershel Communications 407-644-4142

NAI  Realvest Negotiates New Office Lease at Wekiva Center in Apopka, FL

MAITLAND, FL --- NAI Realvest recently completed a new lease agreement for 1,600 square feet of office space at Wekiva Center located at 1706 E. Semoran Boulevard near the intersection of U.S. 441 in Apopka.

 Tom R. Kelley II (lower right photo), CCIM, principal at NAI Realvest, negotiated the transaction representing the landlord Maitland-based Wekiva Center Partnership. 

 The tenant Blanco Professional Services, Inc., a bookkeeping services and tax accountants firm, was represented by Zaida Cabrisa of Orlando Realty Investments. 

For more information, contact:

Tom R. Kelley, II, CCIM, Principal, NAI Realvest, 407-875-9989;  
Patrick Mahoney, President, NAI Realvest, 407-875-9989;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 

Voit Reports Positive Net Absorption and Drop in Vacancy in Sacramento, CA Industrial and Retail Markets

 Sacramento, CA (April 25, 2012) – In the first quarter of 2012, the Sacramento industrial market posted 673,501 square feet of positive net absorption, giving the market a total of nearly 1.4 million square feet of positive  absorption over the past four quarters.

 In addition, the vacancy rate for the region’s retail market decreased to 9.94 percent - the first sub-ten percent vacancy rate in this market in ten quarters, according to a First Quarter Market Report by Voit Real Estate Services. 

“These numbers are moving in the right direction, and there is room for optimism as 2012 progresses,” said Kevin Sheehan (top right photo), Managing Director of Voit’s Sacramento office.  “While these are all positive indicators, stability and job growth will need to be sustained in order for the market to continue its recovery.”

 For a complete copy of the company’s news release and report, please contact:

Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940

Colliers International Completes Lease of a 76,090 SF Industrial Building in Simi Valley, CA

 Simi Valley, CA, April 25, 2012. – Colliers International, the third largest global real estate services organization, has completed the lease of a 76,090-square-foot industrial property located at 2390 Ward Avenue, Unit B in Simi Valley.  The transaction is valued at approximately $1.4 million.

John DeGrinis (top right photo), senior executive vice president, Patrick DuRoss (middle right photo), associate vice president, and Jeff Abraham (middle left photo), senior associate all based in Colliers International’s Encino office represented the tenant, All American Containers.  The landlord was represented by Scott Caswell of Delphi Business Properties.

“All American Containers was searching for a modern industrial facility to accommodate their current and anticipated growth,” DeGrinis explained.  “Originally our search was for smaller buildings across the San Fernando Valley and Ventura County, but we thought the property on Ward might provide the right opportunity for our client.”

“All American is moving from approximately 29,000 square feet to 76,000 square feet,” DuRoss added.  “Although All American Containers is rapidly growing, the economics of the deal were still a priority.  We could see that the Ward property offered many of the facility attributes we were looking for, and we were able to structure a deal that made this an attractive short term and long term opportunity for our client.”

The building was constructed in 1989 and offers building features including 28-foot minimum clearance, 1600 amps of power, 7 dock high positions and high image office space.  All American Containers is one of the largest suppliers of glass, plastic and metal containers, tubes and dispensers, and plastic and metal closures in the United States.


Darcie Giacchetto
Spaulding Thompson & Associates

Avison Young announces milestone opening of new office in New York City

 NEW YORK, NY, April 25, 2012 /PRNewswire/ - Mark E. Rose (top right photo), Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today the opening of its first office in New York City to expand the firm's market and business-line coverage in the Tri-State area.

Arthur J. Mirante, II (lower left photo) has been named a Principal and Tri-State President, based in Avison Young's new Manhattan office. He will join Avison Young Principal Greg Kraut to grow the company's presence in one of the world's leading economic

 The newest American office marks Avison Young's 13th location outside of Canada. Over the past three years, Avison Young has grown from 11 to, now, 30 offices in 27 markets and from 300 to more than 900 real estate professionals across Canada and the U.S. Today's announcement comes on the heels of Avison Young opening a new office in San Francisco earlier this month.

For a complete copy of the company’s news release, please contact:

Christa Segalini, Beckerman PR
(201) 465-8021; (908) 448-8591 cell

Sherry Quan, Avison Young
(604) 647-5098; (604) 726-0959 cell

KW Property Management & Consulting District Manager Scott Stewart Elected to Board of Directors of the Community Association Institute’s Southeast Florida Chapter

Miami, FL --- April 25, 2012 – Scott Stewart, a District Manager with KW Property Management & Consulting, a leader in turnkey management and consulting, has been elected to the Board of Directors of the Southeast Florida Chapter of the Community Association Institute (CAI).
 CAI’s mission is to provide education and networking opportunities to Board Members, Community Association Managers and Business Partners to enable the successful operation of community  associations.

For additional information on the Southeast Florida Chapter, visit
As District Manager, Stewart’s portfolio includes a wide range of properties in south Florida from garden-style associations to high end luxury buildings. He oversees several association managers in diverse associations with complex components including condominium, hotel, commercial space and timeshare. Scott is a licensed Community Association Manager (CAM) and Certified Manager of Community Associations (CMCA).

KW Property Management & Consulting LLC is a growing leader in turnkey management and consulting across Florida and the Southeast US, with properties from Miami to Jacksonville and Nashville, Tennessee and more than 600 employees statewide. From upscale high-rises to homeowners associations and garden-style townhomes, KW Property Management & Consulting meets the needs of more than 40,000 unit owners.

 For more information, visit

Media Contact:

 Brittany Nguyen
Becker Public Relations
2506 Ponce de Leon Blvd.
Coral Gables, FL 33134
Telephone 305/444-2181 X 221

The George Washington Hotel in Winchester, VA Named Wyndham’s Top Hotel

WINCHESTER, VA—The George Washington Hotel (top left photo), A Wyndham Grand Hotel, has been recognized as The Hotel of the Year for 2011 by the Wyndham Hotels and Resorts® brand, the highest honor in the upscale hotel brand’s portfolio. 

The hotel is owned by GW Leasing LLC, located in Winchester, Va., and operated by Marshall Hotels & Resorts, a leading, Maryland-based hotel management and services company.

To be eligible for the prestigious award, a Wyndham Hotels and Resorts property must have demonstrated positive performance and outstanding characteristics in all areas of hospitality, offering excellence in customer service and quality as well as playing an active and positive role in the local community.

“When we took over management of the hotel in 2009, our first priority was to connect with the community,” said David Cavallaro (middle right photo), hotel general manager.  “We have built on that commitment and played a role in helping raise hundreds of thousands of dollars for some 30 local charities last year.” 

The hotel also recently received TripAdvisor’s Certificate of Excellence, based on positive guest comments and ratings.  


Pat Daly, Jerry Daly, media
Daly Gray Public Relations
(703) 435-6293

Aloft Chapel Hill Wins Coveted Award for Hotel of the Year

CHAPEL HILL, NC – Famous for bringing “style at a steal” to Chapel Hill, Aloft Chapel Hill (top left photo) has just earned another accolade, winning the 2011 Hotel of the Year Award from parent Starwood Hotels & Resorts Worldwide, Inc. (NYSE:  HOT).

 Aloft Chapel Hill’s triumph came at an annual gathering of associates from Starwood’s Specialty Select Brand group across North America.  At the Miami event, Starwood recognized top performers among hundreds of hotels in a range of categories.  Starwood’s Specialty Select Brand group includes Aloft, Element, and Four Points by Sheraton hotels. 

Aloft Chapel Hill also achieved the highest Guest Satisfaction Index (Loyalty Composite) score out of all Aloft hotels in North America.

 “The Aloft brand has always been about shaking up the status quo.  The Aloft Chapel Hill refuses to rest on its laurels, which is why it’s been a hit with guests from day one,” said Brian McGuinness (middle right photo), Senior Vice President of Specialty Select Brands for Starwood. “We’re proud of all 56 Aloft hotels around the world, but this award is a well-deserved tribute to the exceptional team at Aloft Chapel Hill.”

Mark Sherburne, general manager of Aloft Chapel Hill agreed.  “Recognition from our peers means a lot to us.  I’m proud of my team for their achievements.  It’s been exciting for us to see how fast Aloft has caught on with guests and our neighbors here in Chapel Hill, and that it continues to be their favorite hotel.”

Aloft Chapel Hill, located at 1001 S. Hamilton Road, is ideally situated near UNC’s campus and close to other universities, Research Triangle Park and the Raleigh-Durham International Airport.  For reservations, call 1-866-716-8143 or visit Aloft Chapel Hill is operated by Interstate Hotels & Resorts (, a leading U.S.-based global hotel management company.

 Media Contacts:

Mark Sherburne
General Manager
919 932 7772

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289