Saturday, September 22, 2012

Carter Completes Several Deals, Rebranding Process

ATLANTA, GA – Carter, one of the nation’s leading investment, development and advisory firms, said it has closed on approximately $100 million in equity development deals aligned with its streamlined focus on investment, development and advisory services.

The company plans to start construction on another $200 million by early 2013. Simultaneously, the company unveiled a new brand identity that includes a refreshed logo, new imaging and an updated website – all aligned with the new focus.
 The new developments are HighPoint at Columbus Commons (lower right photo), a $50 million residential project with retail in downtown Columbus, Ohio; Phase II of The Banks (lower left photo) in downtown Cincinnati ($73 million); Highland Square, a $40 million student housing project in Oxford, Miss; and more than $100 million worth of projects in Louisiana and Oklahoma.

Last year, Carter announced it would focus on equity development in student housing, multifamily and mixed-use projects in core areas; value-add office investment opportunities; education-oriented project management; and an expanded strategic consulting/advisory services practice.

“Our new developments in Ohio, Michigan and Mississippi are part of the plan we announced nine months ago and indicative of what Carter is today,” said Scott Taylor (top right photo), president of Carter. “As our firm changed, we needed to refresh our identity and brand, and we’ve done that as well.”

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

Wilbert News Strategies

Tony Wilbert
404-965-5022 or 404-405-3656

Colliers International Completes 220,000-SF Industrial Lease with Prologis and American Apparel, Inc. Valued at $6.3 Million in La Mirada, CA

LA MIRADA, CA -- Colliers International, the third largest global real estate services organization, has completed a 60-month lease valued at nearly $6.3 million on behalf of Prologis, with American Apparel, Inc. for 220,000 square feet of warehouse and office space. The industrial property is located at 16400 Trojan Way (top left photo) in La Mirada, Calif. 

Chris Sheehan (middle right photo) and Adam Deierling (lower left photo) of Colliers International represented the property owner, Prologis based out of Cerritos, Calif. The tenant, American Apparel, Inc., an apparel distribution company, represented itself.   The tenant will use the facility to ship, receive, package, and store its apparel products.

American Apparel will use the facility as its primary distribution hub, freeing up valuable space at their manufacturing facilities in Downtown Los Angeles. Move-in occurs this month.

“This property is one of a very few corporate image distribution facilities of the required size that was immediately available in the market,” said Deierling. “The building suited the tenant’s timing and operation perfectly and Prologis performed in the short time frame needed to make this deal happen. This is another indication of the improving fundamentals of infill Los Angeles big box industrial real estate.”

Built in 1986, the 220,000-square-foot building includes 30 dock-high positions, three ground level positions, 26-foot ceiling clearance, 19,000 square feet of corporate offices, abundant parking, and a large fenced yard.


Darcie Giacchetto
Spaulding Thompson & Associates

Colliers International Completes 18,179-Square-Foot Industrial Lease with Home Design Outlet Center in Buena Park CA

 BUENA PARK, CA -- Colliers International, the third largest global real estate services organization, has completed an 18,179-square-foot lease with Home Design Outlet Center for use as a product showroom and west coast distribution center. The New Jersey-based company specializes in quality bathroom vanities, shower systems, and natural stone products.

Chuck Wilson (top right photo) and Brian Chastain  of Colliers International represented the tenant. The property owner, RREEF, was represented by Laird Perkins with CBRE.

“Home Design Outlet Center is expanding throughout the United States and this Buena Park location is the company’s first in California,” said Wilson. “The new space offered them great exposure in a high traffic location ideal for attracting consumer traffic.”


Darcie Giacchetto
Spaulding Thompson & Associates

Colliers International Completes Record-Breaking $9.15 Million Sale of a Retail Property Occupied By Wells Fargo Bank in Phoenix, AZ

PHOENIX, AZ) Jereme Snyder (middle right photo)  and Eric Carlton (lower right photo) of Colliers International, the third largest global real estate services organization, have completed a record-breaking sale of a single-tenant retail property NNN leased to Wells Fargo Bank for $9.15 million.

The property, located at 3102 E. Camelback Rd (top left photo). in Phoenix, set a new national sales record for a bank-occupied property with the lowest closing cap rate in 2012 of 4.17 percent. It also sold for a price per square foot of $2,231 which is the highest PPSF for a bank-occupied property in 2012 nationwide as well. (Both records are according to CoStar).

The Snyder-Carlton Team of Colliers International represented the seller, Phoenix-based TradeCor LLC.   Andrew Greenberg of ERG Property Advisors represented the buyer, 8155th Ave. LLC from New York, NY.

“The property is a single-tenant corporate ground lease with Wells Fargo Bank that has more than 16 years remaining on the lease and 3 percent annual increases in rent,” said Snyder. “We were able to garner four offers with a sub-4.5 percent cap rate and underwent a challenging 60-day negotiation process with the buyer who saw the intrinsic value of the property with the ideal combination of a trophy location, strong tenant, and quality, new construction building.”

 Carlton added, ”Single-tenant investments in the growing Phoenix area as well as other key markets within the country are highly sought after, as even a low cap rate in the 4 percent range is appealing and provides a stable investment year over year in an uncertain economic environment.” 

Built in 2008, the property totals 4,100 square feet and is situated on 43,037 square feet of land. The property is located at 32nd and Camelback Rd. in the heart of the financial corridor of Phoenix/Scottsdale, next to the Biltmore Hotel.


Darcie Giacchetto
Spaulding Thompson & Associates

Colliers International Completes 29,574-SF Industrial Lease in Fullerton, CA

 Fullerton, CA– Colliers International, the third largest global real estate services organization, has completed a six-year, 29,574-square-foot industrial lease located at 1405 E. Orangethorpe Ave. in Fullerton, Calif.

 Chuck Wilson (top riight photo) in the Irvine office of Colliers International represented the building owner, Laskey-Weil from Los Angeles. The tenant, Atlas Construction Supply, Inc. is relocating its 18 employees from two branch locations in Long Beach, Calif. in order to consolidate and expand their space. Atlas will use the facility for its will-call, warehousing and distribution needs.

The space for Atlas is within an 111,566-square-foot building that is conveniently located near the 57 and 91 freeways. With this lease, the property is fully occupied.

 “The property offers great frontage on Orangethorpe, which will give Atlas Construction Supply the identity they were looking for in their new location,” said Wilson.


Alan Chernin Joins Colliers South Florida as VP of Retail Services

MIAMI, FL - Colliers International South Florida is pleased to announce that Alan Chernin (top right photo) has joined the firm as Vice President of Retail Services. He is a specialist at managing and implementing national retail tenant growth plans throughout Florida and is expected to expand the firm's retail tenant reps throughout Broward and Palm Beach counties.

"We are extremely fortunate to have Alan joining our retail team," says Rob Warstler (middle left photo), Director of Retail Services for Colliers International South Florida. "He brings years of retail experience and relationships and fits in with Colliers' service excellence. Alan represents a number of national, regional, and local tenants that provide outstanding value to shopping center owners."

Chernin has been involved with commercial real estate for over 30 years. Alan grew up during the development of the first wave of enclosed malls, and toured sites with his father, who worked for Melvin Simon & Associates. Three decades in the industry has allowed him to build solid relationships key to tenants in the market. He has represented clients such as H & R Block, Sola Salon Studios, Weight Watchers, Red Mango Yogurt and Edward Jones Investments.

"The market is surging forward with new and existing tenants seeking expansion and relocation opportunities throughout the state, and we want to lead the way in establishing their footprints here in Florida," says Chernin.

Prior to joining Colliers, Chernin had his own company, Coordinated Real Estate Services, Inc., where he primarily engaged in Tenant Representation for Fortune 500 corporations, medium size companies, and small businesses. He graduated from Florida State University with a B.S. in Business/Real Estate. He is a member of the Tri-County Humane Society.

For further information,  please contact:  

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

Lincoln Property Co. Southeast Brokers Two Leases in 55 Allen Plaza in Atlanta, GA

ATLANTA, GA – Lincoln Property Co. Southeast has brokered two leases in 55 Allen Plaza, (top left photo) the 350,000-square-foot, Class-A office tower in downtown Atlanta that the firm manages and leases.

Here’s a closer look at the leases:

• Afterburner, a firm that offers an array of business consulting and teambuilding services, signed a lease expansion to occupy a total of 8,784 square feet. Greg Baxendale (middle right photo) of Transwestern represented the tenant, and Lincoln represented the landlord.

• The Fogle Law Firm, which focuses on immigration issues, signed a five-year lease for 4,285 square feet of space. Lincoln’s Sabrina Altenbach (lower left photo) represented the tenant, which is scheduled to move in this fall, while Leigh Braswell of Lincoln represented the landlord.

The law firm currently has its offices in The Grant Building downtown and wanted to stay in the area.

“These are two important leases,” said Braswell, a vice president with Lincoln Property Co. Southeast. “Afterburner has been an outstanding tenant for 55 Allen Plaza, and we are pleased to be able to accommodate the firm’s growth needs. The Fogle Law Firm is a growing business as well, and the firm will be a welcome addition to 55 Allen Plaza’s roster of first-class tenants.”

Overlooking the Downtown Connector on downtown Atlanta’s northern edge, 55 Allen Plaza provides tenants with easy access to all of Atlanta’s sub-markets, and, as part of the Allen Plaza mixed-use development, the building is surrounded by amenities including restaurants, the W-Atlanta Downtown Hotel & Residences, retail and Centennial Olympic Park.

 For More Information, Contact

Stephen Ursery
Wilbert Public Relations
Office: (404) 965-5026
Cell: (404) 405-2354

Metro Orlando Business Park in Altamonte Springs, FL Inks Four Leases Totaling 20,000 SF

 ORLANDO, Fla. (Sept. 21, 2012) – Lincoln Property Company Southeast has brokered four leases totaling nearly 20,000 square feet at Northlake Business Park (top left photo), a 270,000-square-foot office park north of Orlando in Altamonte Springs, Fla.

 Robert Kellogg (lower right photo), vice president – office, for Lincoln, represented the landlord, TR North Lake LLC, in the deals.

 The leases included the following transactions:

 • Mohawk Carpet Distribution renewed its 8,055-square-foot lease for two years. David Murphy of CBRE Group represented the tenant.

 • Taylor Morrison signed a three-year new lease for 5,290 square feet. The transaction was a direct deal.

 • Pitney Bowes renewed its 3,651-square-foot lease for three years. Betsy Owens of Cushman& Wakefield represented the tenant.

 • Pinnacle signed a five-year new lease for 2,573 square feet. The transaction was a direct deal.

Located near Interstate 4, Northlake Business Park is located near restaurants, hotels and shopping centers. The site features four parking spaces per 1,000 square feet, and exterior signage is available for tenants.

 “As the economy continues to recover, we are noticing a real uptick in office leasing activity in Orlando and the surrounding markets,” Kellogg said. “These four transactions are not only great news for our landlord client, but they are indicative of the upswing of the central Florida office market.”

 For More Information, Contact

Stephen Ursery
Wilbert Public Relations

NAI Realvest negotiates new lease with water damage experts at Hanging Moss CommerCenter in Orlando, FL

 MAITLAND, FL – NAI Realvest recently negotiated a new industrial lease agreement for 1,875 square feet in Suite 330, 6124 Hanging Moss Rd. at Hanging Moss CommerCenter in Orlando.

 NAI Realvest Principal Michael Heidrich (top right photo) brokered the transaction representing the landlord COP-Hanging Moss, LLC of Maitland and the tenant, Dry-Tech Restoration, Inc., water damage experts.

 For more information, contact:

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

Emerson International Negotiates Lease Agreement at Major Plaza in Southwest Orlando

ALTAMONTE SPRINGS, FL. --- Emerson International, which owns Major Plaza I office building on Kirkman Road near Southwest Orlando’s International Drive area, recently negotiated a lease agreement for 549 square feet of office space at Major Plaza I.

 Kenneth R. Koch, commercial portfolio director at Emerson International negotiated the lease agreement.
 Creative Impressions and Memories is the new tenant.

 For more information, contact

 Kenneth R. Koch, Commercial Portfolio Director, Emerson International, Inc. 407-834-9560 x238;;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142