Tuesday, December 11, 2012

Colliers International Completes $12 Million Sale of a Retail Trophy Asset Occupied By Home Depot in San Jose, CA

635 West Capitol Parkway, San Jose, CA
 SAN JOSE, CA (Dec.11, 2012) Jereme Snyder and Eric Carlton of Colliers International, the third largest global real estate services organization, has completed the sale of a single-tenant retail property NNN fee simple ground lease for $12 million.

The property, located at 635 W. Capitol Expressway in San Jose, set a new national sales record for the big-box retailer-occupied property with an aggressively low closing cap rate of 4.68% percent.

Eric Carlton

The Snyder-Carlton Team of Colliers International represented the seller, Phoenix-based Cole Capital, one of the largest property owners in the United States.  The Buyer, HDSJ, LLC is a private investor based out of New York, New York.

The area significant 11.43 acre property is located within the highly land competitive San Jose region.

With a corporate backed 25 year ground lease with Home Depot (22 years remaining) and 10% rental increases every five years, the property was held under exclusive bid invitation only.

Jereme Snyder
 “There is robust demand for investment grade, single-tenant retail investments nationwide”, said Jereme Snyder, Senior Vice President of Colliers International. “Factors such as scarcity of low-risk, well-located real estate, attractive low-cost financing sources and attractive returns are driving this demand.”

The NNN retail property market is forecasted to remain highly competitive in 2013.   Jereme commented, “We believe there may be room for further CAP rate compression for premier net lease assets. Despite lower CAP rates, NNN assets occupied by strong credit-worthy tenants offer a comfortable premium over the 5 and 10 year Treasuries as well as other investment-grade investments.”

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

Rainee Tiske
Marketing Specialist
Torrance, CA
Dir +1 310 381 2413

Be On It and Have a Plan: Social Media Crucial to a Firm’s Success

Michael Bull
 ATLANTA, GA – Businesses need to be on social media, or else they may face extinction. Once they’re on social media, they should have a strategy.

Those were two of the important points expressed in the most recent episode of the “Commercial Real Estate Show,” hosted by Michael Bull.

The episode took an enlightening look at social-media strategies for businesses. Among the topics discussed were companies that are successful on social media, social-media policies for employees and common mistakes that firms make on social media.

Les Adkins
“If you want to reach your customers and those that are 30 and under – who are going to keep you in business for the next 30 years – you need to be where they are, and where they are is social media,” said Les Adkins, CEO of Orange SMS, a social-media consulting firm.

Adkins pointed to Coca-Cola and Virgin as two examples of companies using social media successfully. Noting that the beverage giant has one of the largest pages on Facebook,

Richard Branson
Adkins said Coke has thrived on the platform and solidified customer loyalty in the process because the firm has “created an environment where you can connect with the company outside of just buying their product. They talk about what they’re doing for the environment and how they’re working in the community.”

Meanwhile, Virgin CEO Richard Branson is a high-profile user of Twitter, Adkins noted. “You feel real connected with the firm because you’re actually hearing from him on Twitter,” added Bull, the founder and president of Bull Realty.

Before diving headfirst into social media, a business has to develop an understanding of its customers, the information they want and the platforms they primarily use, Adkins said. Also, companies must develop detailed objectives and strategies for their social-media efforts, he added.

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

Stephen Ursery
The Wilbert Group
Office: (404) 965-5026
Cell: (404) 405-2354

The entire episode on social-media strategies is available for download at www.CREshow.com.

Voit Directs New $5.9 Million Office Lease in Greater Phoenix, AZ

9375 East Shea Boulevard, Scottsdale, AZ
 Phoenix, AZ (Dec.11, 2012) – The Voit Real Estate Services Phoenix office has successfully directed the new ten-year, $5.9 million lease of a 35,239 square-foot office building in Scottsdale, Ariz. on behalf of the lessor, JPMCC 2007-CIBC19 Shea Boulevard. 

  LNR Property Corporation (LNR) acted as the lessor’s Trustee in the transaction.

The lessee, Vision Offices Executive Suites, L.P., will operate the property as executive suites, according to Troy Nelson a Vice President in Voit’s Phoenix office. 

Scott Nelson
Troy Nelson and Scott Nelson worked with Tom Richards and Darren Tappen of Voit’s Phoenix office to represent LNR in the transaction.

“This transaction was a win-win for the landlord and tenant,” says Troy Nelson.  “Our team was successful in identifying a quality tenant and securing a long-term lease for LNR, while Vision Office Executive Suites will have the opportunity to take advantage of the current activity in the market through its executive suite operations.”

Troy Nelson
Nelson notes that while the Phoenix market has always been attractive to businesses of all sizes, activity among smaller tenants in particular has increased in recent months.

“As the market continues to improve, we will see more start-up companies emerge, fueling the need for executive suites,” he says. 

The lessee, Vision Offices Executive Suites, is a Scottsdale-based company that offers flexible office space solutions, including fully furnished executive suites, flex-tech suites and virtual office packages.  The property is located at 9375 East Shea Blvd. in Scottsdale, Ariz.


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

Charles Dunn Co. Completes $15.5 Million Sale of 46,213 SF Office Building in Brentwood Submarket of Los Angeles, CA

Gelena Skya-Wasserman
 LOS ANGELES, CA. Dec. 11, 2012 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $15.5 million sale of a 46,213 square foot office building located at 11859 Wilshire Blvd.

The transaction marks the largest office sale for both square footage and dollar value in the Brentwood submarket of Los Angeles this year.

Roger Beck, SIOR and Gelena Skya-Wasserman of Charles Dunn Company represented the seller, Los Angeles-based 11859 Wilshire, LLC.

Roger Beck
The buyer, Culver City-based WLA Wilshire, LLC, was represented by Andrew Jennison of Industry Partners.

The buyer will utilize the building to function as the corporate headquarters of ICDC, a Southern California-based technical school. The seller occupied the building as PCS, a communications-based company which has since relocated to Texas. Following the relocation of PCS, the seller no longer had need for the office space.

“The buyer had been searching for its corporate headquarters location for a significant amount of time," said Beck, senior managing director with Charles Dunn Company out of the Sherman Oaks office.

"The central Brentwood location and desirable Wilshire address, as well as the benefit of easy freeway access were an ideal fit for its corporate needs.”

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

Darcie Giacchetto
D.G. Communications, Inc.

Berger Commercial Realty Brokers Announces New Sale in Dania Beach, FL

Judy Dolan
 FORT LAUDERDALE, FL (Dec. 11, 2012) – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced a deal from broker Judy Dolan.

 Dolan represented Bayview Loan Servicing, LLC in the sale of a 6,968-square-foot, two-story former art gallery and cafĂ© building, located at 49 N. Federal Highway, in Dania Beach, to Shlomo Melloul for $275,000.


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

Lincoln Property Company Southeast Brokers Nearly 20,000 SF of Office Leases in Metro Orlando, FL

Robert Kellogg
 ORLANDO, FL. (Dec. 11, 2012) – Lincoln Property Company Southeast has recently brokered office leases totaling nearly 20,000 square feet in the metro Orlando area. Robert Kellogg, vice president, office, for Lincoln Property Company Southeast, represented the landlords in the transactions, while the tenants represented themselves.

Northlake Business Center, Altamonte Springs, FL
 The transactions are as follows:

 • Arcagen Inc. signed a three-year, new lease for 5,349 square feet in Northlake Business Center in Altamonte Springs, and American Incinerators inked a two-year renewal for 3,143 square feet in the center.

 • Holihan Law signed a three-year renewal for 3,077 square feet at Lake Destiny Executive Center I in Maitland. Also at the center, RPAI US Management has inked a two-year, 2183-square-foot renewal and Parc Records a five-year, 1,650-square-foot renewal.

Lake Destiny Executive Center 1, Maitland, FL
 • House of Management Enterprises has signed a three-year renewal for 3,022 square feet at Airport Business Center in Orlando.

 • Limited to Endodontics has signed a two-year renewal for 1,215 square feet at Premier Point North in Altamonte Springs.

 “This flurry of renewals and new deals is a testament to the strength of the metro Orlando properties in our management and leasing portfolio at Lincoln,” Kellogg said. “The tenants who move into these properties want to stay.”

For More Information, Contact

Stephen Ursery
Wilbert Public Relations


BBX Capital Announces Agreement With Bayview Loan Servicing LLC

Seth Wise
FORT LAUDERDALE, FL – Dec. 11, 2012 – – BBX Capital (NYSE: BBX), formerly BankAtlantic Bancorp, announced that it has entered into an agreement with Bayview Loan Servicing, LLC (“Bayview”).

  Bayview will provide customary mortgage loan servicing services with respect to certain commercial, residential and consumer loans and related REO owned by a subsidiary of BBX Capital.

 “We are pleased to be partnering with Bayview as we continue to build our investment portfolio,” said Seth Wise, president of BBX Capital Asset Management.  “The expertise of Baview’s executive team gives us the ability to maximize the value of our assets over the long term and focus on our core business.”

 BBX Capital has transitioned from a bank holding company into a diversified investment and asset management company. The business of BBX Capital includes real estate ownership, direct acquisition and joint venture equity in real estate, specialty finance, and the acquisition of controlling and non- controlling investments in operating businesses.   As of September 30, 2012, BBX Capital had total consolidated assets of approximately $488.4 million. 

 BBX Capital Contact Info:

Leo Hinkley, SVP,
Investor Relations Officer
Telephone: 954- 940-5300

 Media contact: Caren Berg,
 Boardroom Communications,
(954) 370-8999


Ralcorp Holdings Inc. Taps IDI for 558,600-SF Expansion; Carriage House Division Expands Plant in Buckner, KY

Doug Armbruster
 Crestview Hills, KY – IDI, a leading full-service industrial real estate company, announced today an agreement with Ralcorp Holdings (NYSE: RAH) to construct a distribution center at its Carriage House Division’s campus facility in Buckner, Ky.

The 558,600 square feet distribution recently broke ground and scheduled for completion by the end of 2013.

 Located at 1 Quality Place in Oldham County, the new food grade facility is designed to store finished goods produced at Ralcorp’s production facilities.

 “At IDI, we pride ourselves in building long-term value for our clients and the communities we serve,” said Doug Armbruster, IDI senior vice president and regional managing director for the Cincinnati market. “We are thrilled to be supporting Ralcorp Holding’s expansion on their campus and we trust that it will exceed their expectations for a new distribution center.”

 Carriage House, a manufacturer of jams, jellies, sauces and syrups, is a subsidiary of Ralcorp Holdings, Inc., a leading producer of private-brand foods.


Colleen Murphy
Image Creation, Cultivation and Communication
P 404.214.0934

Industry leader Rick Kimball appointed Managing Director for Avison Young’s New England region

Rick Kimball
 TORONTO, Dec. 11, 2012 /PRNewswire/ - Mark E. Rose, Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today the strategic hiring of Rick Kimball as Managing Director of its New England operations.

Effective immediately, Kimball also joins Avison Young as a Principal. A
30-year commercial real estate industry veteran, he was most recently
Senior Vice-President at DTZ and, prior to that, President and CEO of
GVA Worldwide.

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

 Sherry Quan      
(604) 647-5098 or
 (604) 726-0959 cell

NAI Realvest negotiates industrial sales totaling $935,000 on Hanging Moss Road in Orlando and in Sanford Central Park, FL

Michael Heidrich

 ORLANDO, FL — NAI Realvest recently negotiated two sales totaling $935,000 for industrial properties on Hanging Moss Road in Orlando and at Sanford Central Park.

 Michael Heidrich, a principal at NAI Realvest, represented Barrios Investment Property, Inc. of Lake Mary in negotiating the sale of its 11,395 square foot stand alone building on a 0.78± acre site at 3850 St. Johns Parkway in Sanford Central Park.  

Mike Maier
Aubrey Silvey Enterprises, Inc. of Carrollton, Ga. paid $575,000 for the 10-year-old building that includes private offices, showroom and production space.   Mike Maier of Pointe Central Florida Realty represented the buyer.

 Heidrich also negotiated a sale of 1.53 acres of industrial land at 6790 Hanging Moss Rd. in Orlando representing Seller Hanging Moss Industrial Properties, Inc. of Winter Park.  G.L.N. Hanging Moss Road LLC of Orlando purchased the land for $360,000.   Bill Wikle of Fischer & Company represented the buyer. 

For more information, contact

Michael Heidrich, Principal NAI Realvest, 407-875-9989 mheidrich@realvest.com  
 Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989 pmahoney@realvest.com   
 Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142  

Winston James Development reports three new lease agreements at Aloma Business Center in Oviedo, FL

Aloma Business Center, Oviedo, FL

Winter Park, FL --- Winston James Development, based in South Daytona Beach, developers of the Aloma Business Center in Oviedo, reported they recently closed on three new lease agreements at the center.

Winston Schwartz, president of Winston-James Development, Inc. said the new tenants include Suncolor Paint, which leased 3,752 square feet of space, Performance Roofing, which leased 2,814 square feet and Eco Systems, Inc. a security systems firm, which leased 2,814 square feet.

For more information, contact:

Winston Schwartz, President, Winston-James Development, Inc.  386-760-2555;
Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.com