Wednesday, July 4, 2012

David Stevens to Stay at MBA


Washington, DC -- The Mortgage Bankers Association is pleased to announce that David H. Stevens (top right photo) has agreed to stay on as President and CEO.

 Recently, Stevens indicated he planned to leave the association in order to accept a position at SunTrust Mortgage, a long-standing active MBA member.

 Over the past several weeks, MBA’s leadership, members and staff impressed upon Dave the important role he was playing for the industry and his unique qualifications to lead the association.

"The importance and significance of MBA's voice during this critical time coupled with Dave's experience and talents encouraged us to do all we could to retain him,” said MBA Chairman Michael W. Young (lower left photo).

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

 John Mechem             
(202) 557-2924

Marcus & Millichap Sells Sweet Tomatoes Ground Lease in West Palm Beach, FL

 WEST PALM BEACH, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a Sweet Tomatoes (top left photo) ground lease, a 6,800 square-foot net leased property located in West Palm Beach, Florida, according to Spencer Yablon, Vice President/Regional Manager of the firm’s Philadelphia office.

 The asset commanded a sales price of $1,935,000.
 Matthew P. Gorman and Michael Shover of the Philadelphia office, along with Robert Granda in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from New Jersey.

 The buyer, a limited liability company from South Florida, was secured and represented by Gorman, Shover and Granda, as well as Douglas K. Mandel (top right photo) in Marcus & Millichap’s Ft. Lauderdale office.  Kirk Felici (lower left photo), Broker of Record in the Florida office, assisted in closing this transaction.

“The single-tenant Sweet Tomatoes is located within a few hundred yards of the planned multi-million dollar redevelopment of the former Palm Beach Mall on Palm Beach Lakes Boulevard” said Gorman. 

“This major redevelopment will positively change the local market with regards to employment and traffic counts, as well as reestablish this location as a main retail hub.  The buyer was procured in less than a week and closed thirty days later.  He was able to see the long-term upside in the real estate and moved quickly to take it down,” says Granda.

Situated immediately off Interstate-95, Sweet Tomatoes is located at 1900 Palm Beach Lakes Boulevard in West Palm Beach, FL.  At closing it had 13 years remaining on a ground lease and provided rental increases every five years. 

Press Contact:

Ashley Steele
Fort Lauderdale Office

Marcus & Millichap Names Gus Lagos Senior Associate in Houston, TX

 HOUSTON, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Gus N. Lagos (top right photo) as a senior associate in the Houston office, according to David Luther, vice president and regional manager of the office.

In his new position, Lagos focuses on the sale of retail real estate in the Houston area. He also holds the title of associate director of Marcus & Millichap’s National Retail Group (NRG).

“We are extremely excited to have Gus be part of our team,’ says Luther. “His extensive investment sales experience and strong client relationships will further enhance our ability to serve private investors in Houston,” Luther notes.

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

Stacey Corso
Public Relations Manager
(925) 953-1716

Equity Funds in the Red for Second Quarter Despite June Rally, Morningstar Canada Data Show

TORONTO, July 4, 2012 /CNW/ - Despite posting positive results in June,most equity and balanced funds in Canada were not able to overcome their losses suffered in the previous two months and ended the second quarter of 2012 in negative territory, according to preliminary performance numbers released today by Morningstar Canada.

 Among the 22 Morningstar Canada Fund Indices that measure the aggregate performance of equity fund categories, only two managed to stay positive last month. Among balanced funds, the target-date portfolio categories posted slight increases, while all other balanced categories were in the red.

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

Adam Fisch,
 Fund Analyst,
Morningstar Canada,
 (416) 484-7815;

Christian  Charest,
 Morningstar Canada,
 (416) 484-7817

Marcus & Millichap Arranges Sale of Sealy Tract Agriculture Land in DeFuniak Springs, FL for $1 Million

DEFUNIAK SPRINGS, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Sealy Tract Agricultural Land (top left photo)  located in Defuniak Springs, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The 1,019.22-acre vacant property sold for $1,050,000.

Paul Bouldin (lower  right photo), a senior associate and member of the National Land Group (NLG) in Marcus & Millichap’s Tampa office, represented the seller, a financial institution. The buyer was a Florida timber company.

The 1,019.22-acre Sealy Tract is located at Cosson Road between Freeport and Defuniak Springs in Walton County.

The property is zoned GA (General Agriculture) and is intended for future timber operations, the enhancement of natural resources and conservation. According to Bouldin, future land use is limited to low-impact residential usage and activities compatible with natural resources and wildlife conservation.

“Complications of transactions today have made it increasingly important to have real professionals involved,” comments Bouldin.  “We are extremely pleased that we closed on time and under the agreed terms, in spite of the difficulties that arose. The successful closing is a testament to all the people involved.”


Richard D. Matricaria
Regional Manager, Tampa
(813) 387-4700

Colliers Lists Class A Cypress Creek Office for Lease in Fort Lauderdale, FL

MIAMI, FL - Colliers International South Florida is pleased to announce that Senior Commercial Associates Sal Bonsignore (middle right photo) and Clinton Casey (lower left photo) have been appointed the exclusive leasing agents for 1201 W. Cypress Creek Road in Fort Lauderdale, FL.

 The 110,500-square-foot Class A office building is part of the 24-acre Crown Center (top left photo) green campus. Crown Center is the only "for profit" LEED Certified Campus within the State of Florida. Office spaces available at the property range between 5,000 to 16,000 square feet.

"We are truly excited to begin working with the Ownership at Crown Center," says Bonsignore. "They have a great reputation for creating and maintaining the class A office campus. We are glad to be part of their marketing and leasing team."

The Crown Center campus consists of six buildings and is home to numerous large corporate tenants. This 470,000-SF office park is located within minutes of I-95, restaurants, hotels, shops and banking.

The property offers numerous amenities such as an on-campus café, abundant parking and a professional on-site property management team that ensures all tenants and the grounds receive the utmost attention. Current tenants at the building include Sanford-Brown, CruiseOne, and Brown & Brown Insurance.


 Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138