Tuesday, June 19, 2012

HFF named to market for sale KBR former headquarters in Houston, TX

 HOUSTON, TX – HFF announced it has been named to market for sale 135.76 acres of land, which served as the former KBR headquarters (top left aerial photo), in Houston, Texas.

HFF is marketing the property on behalf of the seller, KBR, for an undisclosed amount free and clear of debt.

The property is located at 4100 Clinton Drive less than one mile from downtown Houston and contains nearly a mile of water frontage on Buffalo Bayou. 

 In addition, the location provides access to the area’s major freeways and mass transit facilities. 

Five existing office buildings totaling approximately 720,000 square feet, and a 36,000-square-foot employee center that includes a cafeteria, gymnasium and day care facilities are currently situated on the site. 

The HFF investment sales team representing the seller is led by managing director Davis Adams (lower left photo).

 “We are very pleased to announce this extremely rare opportunity.  This is one of the largest land sites in the United States with immediate proximity to a major metropolitan area’s central business district, which makes it a prime location for major infill redevelopment,” commented Adams.

 “The site is fully open to a wide variety of development opportunities, particularly considering Houston’s standing as one of the best performing markets with some of the strongest job growth in the nation.”

KBR (NYSE: KBR) is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit www.kbr.com.
DAVIS ADAMS                                                    
HFF Managing Director                                                                              
(713) 852-3500                                                     
HFF Director, Marketing
(713) 852-3500

HFF closes sale of Class A office and industrial development in Alameda, CA

SAN FRANCISCO, CA – HFF announced it has closed the sale of The Waterfront at Harbor Bay (top left photo), a Class A suburban office and industrial development totaling 381,439 square feet in Alameda, California.

HFF marketed the property exclusively on behalf of the seller, ALAMEDA WATERFRONT INVESTORS, LLC, L.P. an affiliate of BPG Properties, Ltd. 

An unnamed buyer acquired the property for an undisclosed amount free and clear of debt.

The development is located within the Harbor Bay Business Park at 1601-1851 Harbor Bay Parkway near Oakland International Airport to the east of San Francisco Bay. 

The development encompasses five Class A office buildings and one Class A industrial building.  The property was originally completed in 2000 for Lucent Technologies.  Currently at 85 percent occupancy, tenants include Simco Ion, ABB Concise, Webcor Builders and Citibank.

The HFF investment sales team representing the seller was led by managing director Steven Golubchik (middle right photo) and senior managing directors Michael Leggett (middle left photo) and Gerry Rohm (lower right photo).

“With stable in-place cash flow, improving market fundamentals and the highest quality project in Harbor Bay, the Waterfront at Harbor Bay attracted a multitude of institutional value-add investors, providing the opportunity to purchase the asset at a very attractive price-per-square-foot basis compared to historical trades in the submarket,” commented Golubchik.

For additional information on BPG Properties, please visit the company’s website at www.bpgltd.com.

 STEVEN E. GOLUBCHIK                             
HFF Managing Director                                      
(415) 276-6300                                                    
HFF Director, Marketing
(713) 852-3500

HFF arranges construction financing and joint venture equity for development of student housing project at the University of North Texas in Denton, TX

DALLAS, TX – HFF announced it has arranged construction financing along with joint venture equity for the development of 33° North, a 139-unit, 427-bed student housing project at the University of North Texas (top left photo) in Denton.  

HFF worked exclusively on behalf of the borrower, a joint venture between Fountain Residential Partners, LLC and Crosswind Development, LLC, to secure the construction loan through American Bank of Texas.  In addition, HFF assisted in securing the joint venture equity on behalf of the borrower through a private investor.

33° North is located at 919 Eagle Drive on the southeast corner of the University of North Texas campus in Denton.  Due for completion in the fall of 2013, the community will be the first of two student housing assets currently in development within walking distance of campus and will consist of one-, two-, three- and four-bedroom units. 

Amenities will include fully furnished units featuring granite countertops and 50-inch flat screen televisions in addition to a pool area and clubhouse. 

The HFF team representing the borrower was led by associate director Adam Herrin (middle left photo).

Fountain Residential Partners, together with the Dallas-based Carl Westcott Family, was founded by principals Brent Little, Jon Clayton and Trevor Tollett, each seasoned real estate professionals that have more than 40 years combined experience in student housing development.  The principals have built over $1 billion in student housing developments across the country. 

Crosswind Development Partners is a Dallas-based real estate investment and development firm with experience investing in multi-housing projects including development, construction and asset management. 

 ADAM F. HERRIN                                   
 HFF Associate Director                          
(214) 265-0880                                              
HFF Director, Marketing
(713) 852-3500

Faris Lee Investments Completes Sales of 10 Ruby Tuesday Properties


IRVINE, CA – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has announced it has completed the sales of ten properties occupied by Ruby Tuesday restaurants for a total of $22 million.

Six of the eight properties were sold for $12.8 million to a private investor from Southern California. The properties included:

• Pooler, GA: 110 Pooler Parkway (4,645 SF)
• Rock Hill, SC: 1410 Old Springdale Road (5,655 SF)
• North Charleston, SC: 7400 Northside Dr. (4,658 SF)
• Durham, NC: 210 NC Highway 54 (4,959 SF)
• Wytheville, VA: 145 Commonwealth Ave (5,097 SF)
• Harrisonburg, VA: 111 Burgess Road (5,084 SF)

The properties are all located in strong locations, include new, NNN absolute 15-year lease terms and annual rent increases, and were sold at record-breaking cap rates.
Matt Mousavi (middle right photo), director with Faris Lee Investments, represented the seller, Ruby Tuesday, Inc. (NYSE: RT). In December 2011, Faris Lee had been named the exclusive broker to market a portfolio of properties occupied by Ruby Tuesday throughout the Eastern United States.

According to Mousavi, 21 of the properties have now sold or are currently in escrow.

For more information, please visit http://www.farislee.com/.

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

Darcie Giacchetto,
Spaulding Thompson & Associates
For Faris Lee Investments

Fortress Construction Group Breaks Ground on 12,000-SF Medical Facility in Downtown, Orlando, FL

ORLANDO, FL --- Fortress Construction Group, Inc. has started construction of a new 12,000 square foot medical facility (ltop left rendering  at 326 N. Mills Ave. for the Central Florida Pulmonary Group (CFPG).

Charles Ayers (middle right photo), president of Fortress Construction Group, Inc. said the project includes the state-of-the-art medical facility along with new parking and complete renovation of existing medical offices.

The project is a challenging one, Ayers said.  The site is relatively small, with an existing 7,500 square foot medical office building that will remain open while construction is under way, Ayers explained.

James Garritani (middle left photo) R.A. of DDP Architects P.A. designed the new facility. “Our focus was to soften the transition between the commercial buildings of Mills Avenue and the adjacent historic residential areas,” Garritani said.

“The City of Orlando was very helpful in accommodating the needs of the client and helping to craft a compatible design at the streetscape level,” he said.

Ayers said the new medical facility is expected to open by the end of this year.

Central Florida Pulmonary Group specializes in Internal Medicine, Pulmonary Disease, Critical Care Medicine, and Sleep Medicine.

The new facility will provide a variety of services including Respiratory Therapy, the CFPG Institute of Sleep Medicine, CT Scan, DEXA Scan, and a Drive-Through Pharmacy.

 For more information about this press release, contact

Charles Ayers, President, Fortress Construction Group and Charles Ayers Custom Homes, 407-467-7696 Charles@ayerscustomhomes.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644 4042 Lvershelco@aol.com

Commercial Real Estate Industry Veteran Ed Alegre Joins Colliers International in Irvine, CA

SEATTLE, WA, June 18, 2012 /PRNewswire-USNewswire/ -- Colliers International announced today that Ed Alegre (top right photo), a top appraisal, consulting and brokerage executive in the commercial real estate industry for more than 25 years, has joined Colliers International as President of Valuation and Advisory Services in the U.S. He will be based in Irvine, Calif.

Alegre's role will involve leading the Valuation and Advisory Services division in the U.S., and coordinating its efforts with the global organization. Alegre said his vision for the company is to remain the most trusted, experienced advisors, and take the firm's high quality capabilities to the next level.

"I am extremely excited to take on this new leadership role with Colliers International and work with such a great group of people around the world," said Alegre.

"Colliers is a top-of-the-line firm in terms of performance, and because the company already has an established footprint globally, we have the ability to efficiently service clients regardless of size.

“ Colliers has a reputation for striving to be the best with a strong team approach and dedicated specialty areas, which will allow Colliers to continue to capture high growth potential opportunities." 

Prior to joining Colliers International, Alegre served as executive managing director at Grubb & Ellis Landauer.

For more information about Colliers International, please connect with us on Facebook, LinkedIn, Twitter, YouTube and SlideShare.

London’s Fitzrovia Apartments Shortlisted in Prestigious ULI Global Awards for Excellence

LONDON, June 18, 2012/PRNewswire/ -- Fitzrovia Apartments (top left rendering), developed by London-based property firm Ridgeford Properties(http://www.ridgeford.com/ ] in Joint Venture with Manhattan Lofts, has been shortlisted as a finalist in the prestigious Urban Land Institute Global Awards for Excellence.

Selected from over 200 global awards entries, Fitzrovia Apartments has been recognized for a high standard of design, construction, economics, planning and management.

Fitzrovia Apartments is located on Bolsover Street, London W1. Due for completion in September 2012 the development comprises 66 private apartments, 4 penthouses, The Royal Orthopaedic Hospital and commercial studio space.

The development designed by HOK International features distinctive multi-coloured glass fins on the ground floor, offset against the strong geometric cladding and Caliza Capri limestone and zinc panels on the floors above.

Both the architecture and the interior design are strikingly contemporary and stylish with immaculate detail setting new standards for residential developments in London. A dramatic double height Lobby leads into a beautiful landscaped garden. This focal point of the development provides a discreetly luxurious retreat from the bustle of the capital.

Chris Murray (lower right photo), Managing Director of Ridgeford Properties Ltd [http://www.ridgeford.com/) commented: "We are extremely proud to have been nominated for such a prestigious award. Fitzrovia Apartments is a world class development and the result of another successful joint venture."

ULI Global Awards for Excellence competition, now in its 34th year, promotes leading practices across all fields of real estate development. The winners of the award will be announced in October during ULI's 2012 Fall Meeting in Denver.

Press Office - +44(0)7929-565-349, press@ridgeford.com