Sunday, November 4, 2012

HFF named to market sale of Greenspoint Office Park in suburban Chicago

Jeff Bramson
 CHICAGO, IL – HFF announced it has been named to market for sale Greenspoint Office Park, a three-building office portfolio totaling 498,635 square feet in Hoffman Estates, a northwest suburb of Chicago.

                HFF is marketing the property on behalf of the seller, Multi-Employer Property Trust (MEPT).  Bentall Kennedy, real estate advisor to MEPT, engaged HFF for the assignment on behalf of MEPT.  The buildings may be purchased as a portfolio or individually.

Jaime Fink
Greenspoint Office Park is comprised of Barrington Pointe (148,385 square feet), Greenspoint I (202,838 square feet) and Greenspoint III (147,412 square feet).  The portfolio is 41 percent leased overall.

 Notable tenants include Vistex, Inc., Siemens, Arcadis, U.S., Inc. and Kimberly-Clark.  The properties are located at 2300 North Barrington Road, 2800 West Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road in the northwest suburban market. 
                The HFF team representing MEPT is led by senior managing directors Jeff Bramson and Jaime Fink and director Mark Katz.

Mark Katz
“This is a unique opportunity to acquire trophy real estate that has been institutionally owned and maintained and will benefit from a rapidly strengthening market.  The northwest market has recorded nearly 500,000 rentable square feet of positive absorption year-to-date and is experiencing one of its strongest performances in the last decade,” said Katz. 

“The Class A buildings have all attained LEED® Certification and feature some of the highest quality finishes in the northwest submarket.  The impeccably maintained park features a beautiful three-acre lake, walking trails and well-manicured landscaping,” added Katz. 


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

Berger Commercial Realty Broker Steve Hyatt Represents Community Foundation of Broward in $1.8 Million Sale of Gifted Property in Fort Lauderdale, FL

Steve Hyatt
 FORT LAUDERDALE, FL – The Community Foundation of Broward, represented by Berger Commercial Realty Senior Vice President Steve Hyatt, recently sold a parcel of vacant land in Fort Lauderdale for $1.8 million to Grupo Alco LLC, represented by Greg Jaxtheimer.

 Grupo Alco plans to build luxury, waterfront condominiums on the 0.64-acre lot, which is located at 1100-1200 Seminole Drive, near Fort Lauderdale's popular Galleria Mall.

 The property was an estate gift to the Community Foundation of Broward from philanthropists Jack and Harriet Kaye, longtime residents of Fort Lauderdale.

Linda B. Carter
 “This property was a generous gift to the Community Foundation, and its sale is especially significant for the community,” said Hyatt, who served as a Board Member of the Community Foundation from 2002 to 2007.  “Now the land will be put to good use, and the Foundation will have an even greater ability to improve the quality of life for all those in Broward."

 The sale will add to the Jack and Harriet Kaye Fund of the Community Foundation of Broward to provide even greater support to the causes in which Jack and Harriet believed.

Jack & Harriet Kaye Park
 “Harriet and Jack were active in the community and enthusiastic patriots,” said Foundation President and CEO, Linda B. Carter. “It was important to them that young people learn first-hand the intent of our Founding Fathers. Their Fund helps the Broward County Chapter of the Freedoms Foundation at Valley Forge send high school students to annual Spirit of America conferences in Valley Forge, PA, where they re-enact the Continental Congress of 1775.”

Media Contact:

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

McCraney Property Company and Clarion Partners Have Partnered in a Joint Venture to Develop Three Industrial Buildings at Orlando Central Park

Steven McCraney

ORLANDO and WEST PALM BEACH – McCraney Property Company (MPC) and Clarion Partners have entered into a joint venture to develop three industrial buildings (including Dade Paper) on 25.3 acres at Orlando Central Park.

 McCraney, an integrated developer and manager of commercial/industrial flex and warehouse distribution properties located throughout Florida, will be responsible for project planning, design, construction and property management.

 Clarion Partners is a leading U.S. real estate investment manager with more than $25 billion in assets under management which includes 100,000,000 square feet of industrial projects across North America and more than 3,000,000 square feet of industrial projects in Florida alone. Clarion will be involved in the project’s design and construction process.

Orlando Central Park
 “We are very excited about the opportunity to grow our Florida industrial holdings and launch a partnership with McCraney Property Company,” said Kris Arviso, Vice President at Clarion Partners.

In addition to the 150,000 square-foot Dade Paper building, which is under construction, Clarion and McCraney will be constructing two additional industrial buildings on spec with rentable space totaling 225,000 square feet (123,000 and 102,000). Planning has begun on the spec buildings with construction of the first spec building expected to get underway during the first quarter of 2013.

Kris Arviso
“We’re bullish on Orlando, and so is Clarion,” said Steven McCraney, founder and president of McCraney Property Company. “You couldn’t ask for a better partner."

Media Contact:

Don Silver

Teresa Shum
of Boardroom Communications,

(561) 478-4300

New Metro Bus Maintenance and Operations Facility to Provide Safe, Clean and Environmentally Responsible Transportation for Los Angeles Residents

Los Angeles Bus  Maintenance Facility
Los Angeles, CA – McCarthy Building Companies recently began construction on the new $73.5 million Metro Division 13 Bus Maintenance and Operations Facility for the Los Angeles County Metropolitan Transportation Authority (Metro).

Designed to optimize the agency’s bus transit service throughout the Central Los Angeles region, the new sustainable facility will accommodate a fleet of 200 CNG (compressed natural gas) buses that provide effective and environmentally responsible public transportation for one of the largest, most populous counties in the country.

McCarthy is serving as general contractor and will be self-performing the structural and architectural concrete work on the facility which is located on a 7.5 acre site at the northeast corner of Vignes Street and Cesar E. Chavez Avenue in an industrial area in downtown Los Angeles. The 442,265-square-foot project began construction in October 2012 and is scheduled to complete in summer 2014.

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

Laura Mickelson
(LM Communications)               
(949) 453-0851   
 Susan Garritano
(McCarthy Building Companies)
 (314) 968-3300          

Marcus & Millichap Sells the Levi’s Building on South Beach, FL for $8.5 million

Drew A. Kristol
MIAMI BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Levi's Building South Beach, a 10,459-square-foot retail property including a 3,300-square foot, three-bedroom luxury loft, located in Miami Beach’s South Beach. The asset commanded a sales price of $8,500,000.

Vice President Investments Drew A. Kristol and Kirk D. Olson in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami Beach, FL.  The buyer, a private investor from New York City, was also secured and represented by Kristol and Olson. 

Kirk D. Olson
The property, which was originally constructed in the 1930's and completely restored and expanded in the 2000's, is primarily retail-oriented and currently leased to Levi Strauss & Co. with two retail showroom spaces on the second floor.  Also included in the purchase was a luxurious, 3,300-square foot, three-bedroom loft which includes a 2,300-square foot rooftop deck, infinity-edge pool and two car-garage.

“This transaction was a perfect match for both buyer and seller.  The seller was able to deliver the entire building 100 percent occupied including a tenant for the loft space and the asset met the buyer’s need for a cash-flowing, high street retail opportunity on Miami Beach,” says Kristol.

Levi's Building, South Beach, FL
The property is located in the heart of the Collins Avenue "Fashion District" which lies roughly from 5th to 10th Street and includes top fashion brand flagships stores: Guess, Victoria's Secret, Aldo, Barney's Co-Op, Diesel, Tommy Hilfiger and Puma.  The Levi's Building South Beach is located at 826 Collins Avenue. 

Press Contact:

Kirk A. Felici
First Vice President/Regional Manager, Miami
(786) 522-7000

80th and 81st New Condo Towers Proposed For South Florida Coastal Region

Aventura Mall, Aventura, FL
 MIAMI, FL -- Developers are proposing a pair of unrelated new condo towers - Echo and Puerto Aventura - in the city of Aventura in Northeast Miami-Dade County, and in the process have boosted the total number of planned buildings to 81 in South Florida since the real estate crash began in 2007, according to a new report from

With the newly announced Echo and Puerto Aventura projects to be located just south of Aventura Mall, more than 11,675 condo residences have been proposed for the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties as of Oct. 31, 2012, according to the Preconstruction Condo Projects list compiled by the licensed Florida brokerage CVR Realty™.

Bellini at Williams Island, Miami, FL
Some five years after the South Florida condo market began to stall, one new tower has already been completed in the tricounty region and 12 other highrises - Aventura's Bellini At Williams Island (scheduled to top off on Nov. 9, 2012); Greater Downtown Miami's 1100 Millecento Residences, Brickell Citicentre(two towers), BrickellHouse, and MyBrickell projects;

 Hollywood's Apogee Beach; Key Biscayne's Oceana (two towers); Palm Beach County's 4001 North Ocean project; and Sunny Isles Beach's Mansions At Acqualina and Regalia - are under construction as the post-crash development era gains momentum, according to a recent report.

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

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.

Voit Deal Brings Expanding Garment Manufacturer to Montebello, CA

Montebello, CA Warehouse
Los Angeles, CA – Brian McLoughlin and David Fults of Voit Real Estate Services’ Central Los Angeles office have successfully directed the $3.8 million sale of a 34,980 square-foot industrial warehouse in Montebello, Calif., on behalf of the seller.

The buyer, JC Industries, a vertically integrated garment manufacturer providing private label services, will use this property to expand its Los Angeles-based operations, according to McLoughlin, a Senior Vice President in Voit’s Central Los Angeles office.

Brian McLoughlin
McLoughlin worked with David Fults, also a Senior Vice President at Voit, to represent real estate investor, Montebello Management, as the seller.

“The recovery is evident in the Greater Los Angeles area, and the buying market continues to become increasingly competitive,” said McLoughlin.

 “The Voit team originally found a buyer for the property who, after a long escrow, was unable to secure a loan to close the deal. This is not a rare case, as banks have tightened up their reins on loan approval.

David Fults
“We then went back to the market and found JC Industries, who was seeking a new facility for its expansion.  We were able to achieve a price of $109.20 per square-foot, which is within four percentage points of the peak values set in 2008 for buildings over 30,000 square feet.”

The buyer, JC Industries, was represented by John Repstad of Binswanger/Realty Advisory Group, Inc.

The property is located at 2122 Flotilla St. in Montebello, Calif.


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

HFF arranges $11.5 million refinancing for beachfront San Francisco area manufactured home community

Pacific Skies Estates, Pacifica, CA
SAN DIEGO, CA – HFF announced it has arranged an $11.5 million refinancing for Pacific Skies Estates, a 93-space manufactured home community located on nine acres adjacent to the Pacific Ocean in Pacifica, California.

                HFF worked exclusively on behalf of InSite Realty Advisors to secure the five-year, fixed-rate loan through Opus Bank.  The recapitalization allows for the repatriation of equity invested in the property, as well as continued execution of the greater vision for the community.

Zach Koucos
Pacific Skies Estates is located at 1300 Palmetto Avenue along the beach in Pacifica, about 10 miles southwest of San Francisco.  The unique coastal property is currently 96 percent occupied, and is being repositioned as a lifestyle rental community. 

The community was developed in the early 1960’s, however the sponsor has recently made significant investments into the property including an upgraded sea-wall and approximately 16 percent new installed manufactured homes for rent. 

                The HFF team representing InSite Realty Advisors was led by associate director Zach Koucos, senior managing director Tim Wright and real estate analyst Zack Holderman.

Tim Wright
 InSite Realty Advisors is a full-service real estate development, investment and management firm. InSite’s principals have extensive experience in a variety of real estate product types including commercial, senior living, and residential housing.


Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

Exit Realty to Host, Sponsor Training Seminar for Central Florida Realtors Nov. 14 with leading training motivator Walter Sanford as Keynote Speaker

Walter Sanford
Daytona Beach Shores, FL. --- Exit Realty of Daytona Beach will sponsor and host a three-hour seminar for Central Florida Realtors featuring real estate marketing guru Walter Sanford from 9 a.m. to noon on Wednesday, Nov. 14.

Aswin Suri, principal of Exit Realty of Daytona Beach, said Sanford ranks as one of the most respected and most widely requested real estate sales and marketing trainers in the U.S.

“Walter Sanford earned his first million dollars before he turned 21 years of age,” Suri said.

Aswin Suri
“In 1972, he posted annual real estate sales valued at more than $72 million. He has had his finger on the pulse of the real estate market for more than 40 years and he has valuable information to share,” Suri said.

Exit Realty's training seminar will be held at The Shores Resort and Spa, 2637 S. Atlantic Ave. in Daytona Beach Shores.

Suri said Sanford will teach two mini-courses: “What Top Agents are Really Doing and “Killer Business Systems 2013.”

Admission to the seminar is free and open to all licensed Florida Realtors and real estate brokers, Suri said.    Please R.S.V.P. by Nov. 9 to

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

Aswin Suri, MHA, B.A., Owner, Exit Realty of Daytona 386-383 3000 or;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142;