Sunday, July 1, 2012

Harbor Pointe Apartments in Milwaukee Changes Hands for $27 Million

MILWAUKEE, June 28, 2012– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Harbor Pointe (top left photo),  a 596-unit multifamily property in Milwaukee. The sales price of $27,050,000 represents $45,386 per unit and $51 per square foot.

Scott Harris,  a senior vice president investments in Marcus & Millichap’s Oak Brook, Ill. office and Matthew Whiteside, (lower right photo), a vice president investments in the firm’s Milwaukee office, represented the seller, a private investment group. Harris and Whiteside also represented the Denver-based buyer.

 “This was a satisfying exchange for both parties in the transaction,” says Harris. “Harbor Pointe is one of the largest multifamily properties in Wisconsin and Milwaukee is one of the strongest rental markets in the country.”

“The property was 95 percent occupied and climbing at the time of the sale,” adds Whiteside. “The new owners have the ability to achieve high cash flows from Harbor Pointe’s current operations.”

The 531,186-square foot property is located at 9200 North 75th St. on Milwaukee’s north side, within walking distance of major retailers, restaurants and hotels.

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

Stacey Corso
Public Relations Manager
(925) 953-1716

Jones Lang LaSalle Hires Steve Larsen as Vice President in Phoenix

 PHOENIX, June 25, 2012 – Pursuing expansion opportunity in a key growth market, the Phoenix office of Jones Lang LaSalle has hired Steve Larsen (top right photo) as a Vice President in its industrial brokerage team. Larsen is based in the Southeast Valley and will leverage that presence to widen Jones Lang LaSalle’s geographic footprint and reach new Phoenix-area clients who can benefit from the firm’s extensive global research and service capabilities.

“Steve is very well established in the Southeast Valley,” said Dennis Desmond, Senior Managing Director and head of the Phoenix Jones Lang LaSalle office. “He has earned the trust and respect of clients in these communities, and he will be a great ambassador for this firm as we take our presence in the Southeast submarket to the next level.”

Larsen specializes in industrial building and land sales, leasing and build-to-suits. He develops property marketing strategies and prepares in-depth analysis to maximize and achieve the highest and best use for each project.

Larsen holds a bachelor’s degree in Public Administration from San Diego State University and is a former professional football player for the Chicago Bears.

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

Stacey Hershauer
(480) 600-0195

Two Cassidy Turley Buildings Win International TOBYs

                        Holly Hughes, left, who runs cassidy Turley Atlanta's Property and Facility Management Group, with Kelly Furr, Senior Facility Manager Cassidy Turley. He is assigned to Georgia Power HQ.

 ATLANTA –  Cassidy Turley, a leading commercial real estate services provider in the U.S., said today two Atlanta office buildings it manages won the 2012 International TOBY Awards from the Building Owners and Managers Association (BOMA) International. The awards are the highest level of recognition from BOMA.

BOMA International bestowed The Outstanding Building of the Year (TOBY) designation on the Georgia Power Company headquarters tower (middle right photo)at 241 Ralph McGill Blvd. The landmark tower competed in the Office Building, 500,000 to 1 Million Square Feet category. Piedmont West (lower left photo) at 1800 Howell Mill Road was recognized as the Medical Office Building of the Year.

 “We are deeply honored that BOMA International has selected two Cassidy Turley-managed buildings for the highest-level TOBY Award,” said Holly Hughes, Senior Managing Director of Cassidy Turley in Atlanta. “Cassidy Turley is committed to providing excellent property and facility management to our clients, and these awards are yet more proof we do just that.”

 The awards were announced at BOMA International’s annual conference in Seattle, held from June 24-26. To win the international awards, the Georgia Power Company headquarters and Piedmont West had to first win TOBY awards at the local and regional levels.

 BOMA’s TOBY Awards recognize properties that exemplify superior building quality and management practices. Buildings are evaluated on factors ranging from community involvement and site management to environmental policies and procedures.

 The Georgia Power Building is a 24-story tower with more than 853,000 square feet of office space. Piedmont West is a 10-story medical office building with 264,000 square feet of office and ground-level retail space.

 Cassidy Turley’s property and facility management portfolio in metro Atlanta contains 20 million square feet. 
Public Relations Contacts:

Stephen Ursery
Wilbert News Strategies
Office: (404) 965-5026
Cell: (404) 405-2354

Tony Wilbert
Wilbert News Strategies

Parkway Announces Several Notable Leases


ORLANDO, FL /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced it has signed a total of 33,000 square feet of new and expansion leases at Peachtree Dunwoody Pavilion (top left photo) in Atlanta, GA, backfilling approximately 37% of the previously announced space that will be vacated by Cox Communications on June 30, 2012. 

This leasing activity consists of a 23,000 square foot new lease signed with CBS Broadcasting Inc. that expires January 31, 2023, and a 10,000 square foot expansion by a major national health insurance carrier that expires April 30, 2016, which is coterminous with its existing lease at the property. 

Parkway also signed a 13,000 square foot new lease at Hearst Tower (middle right photo), Parkway's most recent acquisition located in Uptown Charlotte, with Dixon Hughes Goodman LLP that commences July 1, 2012, and extends through June 30, 2017. 

Additionally, the Company signed a five-year new lease for 35,000 square feet with AT&T Services, Inc. at 111 Capitol Building in Jackson, MS, and an 85,000 square foot renewal at Bank of America Plaza in Nashville, TN with Louisiana-Pacific Corporation, representing a 79-month extension beyond its existing expiration. 

"We continue to make meaningful progress towards our goal of improving portfolio occupancy," stated Jayson Lipsey (lower left photo), Chief Operating Officer of Parkway Properties. 

"We have anticipated the loss of Cox Communications at Peachtree Dunwoody Pavilion, and the leasing efforts of our Atlanta team have mitigated the impact of that vacancy by backfilling 37% of the space before its expiration. 

“We are also encouraged to see strong interest in our recently acquired Hearst Tower, which is now over 95% leased.  Our leasing velocity remains steady in our markets, which should help us gain traction in occupancy over the next several quarters given our minimal near-term lease expirations."

  Parkway owns or has an interest in 42 office properties located in 10 states with an aggregate of approximately 10.7 million square feet of leasable space at June 6, 2012.  Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 12.2 million square feet for third-party owners at June 6, 2012.


Thomas E. Blalock
Vice President of Investor Relations
(407) 650-0593