Monday, August 20, 2012

Voit Directs New 147,677-SF Industrial Lease to National Health Care Service Manufacturer in Redlands, CA


 INLAND EMPIRE, CA  (Aug. 20, 2012) – Voit Real Estate Services’ Inland Empire office has directed a new 147,677 square-foot industrial lease in Redlands, Calif., on behalf of the lessor.

The lessee, Medline Industries, a privately held national manufacturer and distributor of health care supplies and services, plans to fully occupy the building for its distribution operations, according to Juan Gutierrez, a Senior Associate in Voit’s Inland Empire office.

Gutierrez worked with Frank Geraci, Walt Chenoweth, (middle right photo), and Patrick Wood (lower left photo) of Voit’s Inland Empire office to represent the lessor, BlackRidge Real Estate Group/ Verde Realty. The lessee, Medline Industries, was represented by Chuck Belden of Cushman  & Wakefield.

This is an expansion for Medline Industries, which was seeking additional warehouse space in close proximity to its existing 405,000 square-foot distribution center in San Bernardino, notes Gutierrez.

“The property is a Class A warehouse within a master planned business park, which is especially attractive to tenants in the current market,” explains Gutierrez. 

“Leasing activity is on the rise in the Inland Empire, and the supply of large, Class A product continues to tighten. Our team is constantly tracking the market, and we were able to leverage the increasing momentum in order to successfully identify a tenant and fully stabilize the building within three months.”

This property is located at 1455 Research Drive in Redlands, Calif.


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

Marcus & Millichap Announces Sale of Sycamore Hills in Kansas City, MO for $4.3 Million

 KANSAS CITY, MO, Aug, 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sycamore Hills, a 207-unit Apartment property located in Kansas City, MO, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $4,300,000.
Alex Blagojevich and David N. Gaines (middle right photo), investment specialists in Marcus & Millichap’s Tampa and Chicago offices, had the exclusive listing to market the property on behalf of the seller, Sycamore Hills, LLC. 

The buyer, The Hills Partners, LLC, was also secured and represented by David N. Gaines and Alex Blagojevich.  Matt Fitzgerald, Broker, assisted in closing this transaction.

Sycamore Hills is located at 506 NW 55th Terrace.  The property is a 207-unit apartment community consisting of nine two-story buildings.  The buildings feature studio, one, two and three-bedroom floor plans. 

Press Contact:

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

Cassidy Turley Promotes Erin Smith to Associate in Atlanta Office

ATLANTA, GA-- Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced it has internally promoted Erin Smith (top right photo) to associate and transaction broker in its Atlanta office. Her responsibilities now include business development and tenant representation transaction management.

 Smith has served as marketing assistant with the brokerage team of Kirk Diamond, Bradley Fulkerson and April Hawkinson at Cassidy Turley for over a year. In her previous role, she supported the office tenant representation practice group and prepared proposals, presentations, surveys and market research.

Smith was an influential member of the team that recently secured a partnership with SunTrust Banks, Inc., in which Cassidy Turley will provide corporate real estate services for SunTrust’s 14 million-square-foot corporate real estate portfolio.

 “Erin has proven herself to be a dependable member of the Cassidy Turley team,” said Bradley Fulkerson (lower left photo), Managing Director and Principal in Cassidy Turley’s Atlanta office. “She has been an instrumental part of our brokerage team and helped win a number of great deals for Cassidy Turley.”

 Before joining Cassidy Turley, Smith served as an associate with PartnersAtlanta, which represents corporate real estate tenants. She has a bachelor’s in business administration from the University of Florida.


Tony Wilbert
Wilbert News Strategies

Marshall Hotels & Resorts Adds Two Management Contracts, Two Receiverships


SALISBURY, MD, Aug. 20, 2012—Officials at Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide and in the Caribbean, today announced that it has added two management contracts and two receiverships to its growing portfolio.

 The managed hotels include the newly opened 113-room Hampton Inn and Suites (lower right photo) in the resort town of Ocean City, Md., and the 122-room Country Inns and Suites at the Louisville, Ky. airport (middle left photo.  The two receivership properties, also managed by Marshall, are independent hotels located in Branson, Mo.

“There is significant activity by owners seeking new management companies and from lenders who are accelerating the number of properties they are taking back,” said Mike Marshall (top right photo), president and CEO. 

“Of note, we see a sharp increase in interest from developers who have been largely on the sidelines the past four years.

“ Although financing for new construction still remains difficult to obtain, deals are starting to get underwritten, and we expect to see a steady increase in this area due to our extensive expertise in both supervising construction and our track record in pre-opening and rapidly ramping up our hotels.”.

“We were quite active in pre-opening actives for The Hampton Inn and Suites in Ocean City, which opened earlier this month,” he said. 

 “The property is on the bay and offers both an indoor and outdoor swimming pool. We expect this property to perform well.  Our managed resort portfolio is enjoying its strongest summer in four years, a trend we see continuing.”

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

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

Berger Commercial Realty Broker Keith Graves Closes 20,792 SF. of Lease Transactions

FORT LAUDERDALE, FL – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced three deals from Keith Graves (top right photo).

Graves represented SGP Palm Crossing, LLC in the lease of a 15,920-square-foot industrial space, located at 3420 N.W. 53rd Street in Fort Lauderdale, to GA Telesis Composit Repair Group, LLC.

Graves also represented SGP Palm Crossing, LLC in the lease of a 2,470-square-foot of flex space, located at 5371 N.W. 53rd Street in Fort Lauderdale, to Dunkelberger Engineering & Testing, Inc.

Additionally, Graves represented Seagis FLCC, LLC in the lease of a 2,402-square-foot industrial space, located at 5361-5381 N.W. 33rd Ave. in Fort Lauderdale, to FB Legal, LLC.


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

HFF closes sale of two-property self storage portfolio in Dallas, TX area

 HOUSTON, TX – HFF announced today that it has closed the sale of a two-property self storage portfolio totaling approximately 163,000 square feet in the Dallas area.

HFF marketed the offering exclusively on behalf of the seller, 5B Investments, Inc.  Extra Space Self Storage purchased the properties for an undisclosed amount free and clear of debt.

The first of the two properties is located in Dallas at the intersection of Preston Road and President George Bush Turnpike.  The facility was completed in 1998 and contains 540 units, 71 percent of which are climate controlled. 

The second property in the portfolio is located in Grand Prairie along Highway 360 between Dallas and Fort Worth.  The facility was completed in 2000 and contains 856 units, 59 percent of which are climate controlled. 

Both properties have been maintained to institutional standards and include a mixture of self storage and RV/surface units.

The HFF team representing the seller was led by senior managing director Aaron Swerdlin (top right photo).

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

AARON A. SWERDLIN                                    
HFF Senior Managing Director                     
(713) 852-3500                                             

HFF Associate Director, Marketing
(713) 852-3500

HFF hires Gregg Shapiro as director in its Atlanta office

ATLANTA, GA – HFF announced today that Gregg Shapiro has joined the firm as a director in its Atlanta office. 

Mr. Shapiro will focus primarily on debt and equity placement transactions in the southeastern United States.  He has more than 16 years of experience in the commercial real estate and finance industries.  Prior to joining HFF, Mr. Shapiro founded SRE Advisors, LLC, a commercial real estate capital markets advisory business.

“Gregg has been involved with many aspects of the commercial real estate industry throughout his career and brings a wealth of past knowledge and experience with him to the firm.   We feel strongly that he will be a tremendous asset to the Atlanta office and our national debt platform,” commented senior managing director Mark Sixour (top right photo) of HFF”s Atlanta office.

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

MARK D. SIXOUR                                             
HFF Senior Managing Director                           
(404) 832-8460                                                   

HFF Associate Director, Marketing
(713) 852-3500

Ameriprise Financial and BankUnited Sign Leases at MetWest International in Tampa, FL

TAMPA, FL– Two prominent financial firms have signed leases at MetWest International (top left photo), MetLife’s mixed-use development located in Tampa’s Westshore Business District.

Ameriprise Financial, Inc., (NYSE:AMP), a Fortune 500 company, has signed a 12,555 square foot lease at MetWest One while BankUnited (NYSE: BKU) has signed a lease for 5,303 square feet at One MetroCenter.

“We’re pleased to welcome Ameriprise and BankUnited to MetWest, which has seen an increase in leasing activity this year and continues to grow as a prominent development in the Westshore community,” stated Chuck Davis, regional director of MetLife’s Tampa real estate investment office.

Ameriprise was represented by Jack Hoskins of CBRE with Jeremy Kral of LandQwest representing BankUnited. MetLife was represented by Angela Odell of Taylor & Mathis.

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

Christopher Breslin, MetLife, (212) 578-8824
Mary Harris, BankUnited, (305)817-8117

PCCP LLC Provides Two Senior Loans totaling $66 Million to Recapitalize a Hilton Hotel in Baltimore, D and a Mixed-Use Project in Wilmington, DE


 New York, NY,  Aug. 20, 2012 - PCCP, LLC announced today it provided two senior loans totaling $66 million to a joint venture led by New York City-based AllianceBernstein U.S. Real Estate Partners, LP for the recapitalization of two class A properties built by Wilmington, Delaware-based Buccini-Pollin Group (BPG). 

The recapitalized properties include the Hilton hote (top left photo) l located near the Baltimore Washington International airport and a multifamily project along the Christina riverfront in Wilmington, Delaware known as Justison Landing (middle right photo).

“These institutional quality assets were originally capitalized with loans from Anglo Irish Bank during the last real estate cycle,”  said John Prete (lower left photo), vice president with PCCP, LLC.

“After being nationalized, Anglo Irish sold its U.S. real estate debt portfolio, which led to this recapitalization opportunity.

 “We were attracted to the location and quality of the recently constructed real estate—particularly since our basis is at a significant discount to replacement cost. These floating-rate loans are also supported by strong in-place cash flow and a significant equity investment by a deeply experienced and capable borrower.”

The first loan totals $36 million and is secured by the Hilton BWI, a 280-room, 12-story, full-service Hilton built in 2006 by BPG. The hotel is located near the Baltimore Washington International airport at 1739 West Nursery Road in Linthicum Heights, Maryland.

The second loan totals $30 million and is secured by Justison Landing, a class A, multifamily project built by BPG in 2008 that includes 214 multifamily units The property is located at 321 Justison Street in Wilmington, Delaware, along the Christina Riverfront and is easily accessible and visible from nearby Interstate 95.

AllianceBernstein U.S. Real Estate Partners, LP is a real estate private equity fund with $680 million in capital commitments from institutional investors and clients of its parent company. BPG is a full-service real estate firm that has acquired, repositioned, or developed over $3 billion in real estate in Washington D.C. and the Mid-Atlantic.  It is the largest residential landlord in Wilmington.


Darcie Giacchetto
Spaulding Thompson & Associates