Tuesday, January 8, 2013

X Team Partner Florida Retail Partners Brokers Fresh Market Leases

Kalyn K. Brandewie
  TAMPA, FL Jan. 8, 2013 — Florida Retail Partners, an X Team partner brokered two leases for The Fresh Market (www.freshmarket.com) as part of the company’s expansion in Florida.

 The Fresh Market continues to grow its chain of specialty grocery stores with new locations in Naples, Fla. and Brandon, Fla.

The new 25,575 square foot Naples store will be located in the Eagle Creek shopping center at the intersection of Highway 41 and Highway 951. The new 18,091 square foot Brandon store will be located in the Lithia Crossing shopping center on Lithia-Pinecrest Road. The stores will be the company’s 34th and 35th in the state. 

Craig Carlock
 Kalyn Brandewie, Founding Partner with Florida Retail Partners is The Fresh Market’s broker representative for West Florida.  “The Fresh Market will be a welcome addition to both of these affluent communities,” stated Brandewie.

 “We are excited about our continued expansion in the South, and in Florida in particular,” said Randy Kelley, senior vice president of real estate and development for The Fresh Market.

 “We look forward to building on the success of our other Florida locations, where we have enjoyed a strong and loyal customer base, and to providing customers in the East Naples and Marco Island area, as well as Brandon and surrounding areas, with the same quality products and excellent customer service.”

The Fresh Market has built its reputation on being an extraordinary food destination store. 

“From bountiful produce and a full-service meat counter to convenient prepared foods and an in-store bakery, customers will discover that our stores are committed to variety, freshness and value as well as superior customer service.”said Craig Carlock, the company’s president and CEO.

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

Kalyn Brandewie

 The Fresh Market
Carly Dennis

Marcus & Millichap Sells 48-Unit Apartment Building in Davie, FL for $2.16 Million

JM Apartments, Davie, FL
 DAVIE, FL, Jan. 8, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of JM Apartments, a 48-unit apartment property located in Davie, FL. The asset commanded a sales price of $2,160,000.

Associates Derek R. Gibbs and Daniel J. Cunningham and Vice President Investments Tal I. Frydman in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Southwest Ranches, FL. 

Derek R. Gibbs
The buyer, a limited liability company from Sunrise, FL was secured and represented by Frydman, Cunningham, Gibbs and Associate Paul D. Nudelman from the firm’s Miami office. 

JM Apartments consists of four two-story buildings with 32 one-bedroom/one-bathroom units and 16 two-bedroom/one-bathroom units. 

The property is located just west of the Florida Turnpike and south of Interstate 595 near Broward College, Nova Southeastern University and Florida Atlantic University. The property is located at 5899 SW 36th Court in Davie, FL.

Press Contact:

Gregory Matus
Vice President/Regional Manager,
Fort Lauderdale
(954) 245-3400

ZipRealty Enters 2013 With Healthy Momentum

Lanny Baker
 EMERYVILLE, CA – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the most prominent online technology-enabled residential real estate brokerage company, today announced that, based upon preliminary information, it expects to achieve positive Adjusted EBITDA for the full year 2012, marking a financial turning point for the company.

“We expect to fulfill our commitment to generate positive Adjusted EBITDA in 2012, while strengthening ZipRealty’s core assets and positioning the company for strong growth in the years to come,” said Lanny Baker, Chief Executive Officer and President.

 “Our redesigned website and mobile apps are winning rave reviews, and major upgrades to our agent platform are generating similar amounts of excitement.

“As this new phase of product innovation starts to differentiate ZipRealty, we are extremely pleased to have achieved year to year growth in net transaction revenue in the fourth quarter on a same market basis, reversing negative comparisons in prior quarters.”

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

Stacey Corso
Public Relations Manager
ZipRealty, Inc.
(510) 735-2667

Lincoln Property Company Southeast Brokers 236,908 Square Feet of Leases at Suburban Atlanta Distribution Center

Horizon Creek Distribution Center, Suwanee, GA
ATLANTA, GA (Jan. 8, 2013) – Lincoln Property Company Southeast has brokered recent leases totaling 236,908 square feet at Horizon Creek Distribution Center, a three-building, 482,984-square-foot industrial park located just outside of Atlanta in Suwanee, Ga.

Denton Shamburger, vice president of Lincoln Property Group Southeast, represented the landlord, a state pension fund, in each of the leases. The transactions are as follows:

Denton Shamburger
• Atlanta Cable Sales Inc. renewed its lease of 96,675 square feet for seven years. Chip Craighill of Cushman & Wakefield represented the tenant.

• Sienna Corp. signed a 10-year new lease for an 88,429-square-foot building that includes more than 12,000 square feet of office space. Adam Richards with Resource Real Estate Partners represented the tenant.

• Personal Touch Deliveries Inc. signed a five-year renewal and expansion totaling 51,804 square feet. The expansion totals approximately 21,000 square feet. Brad Pope of Hailey Realty Co. represented the tenant.

Tony Bartlett
Lincoln acquired Horizon Creek on behalf of the pension fund in August 2011 and took over the management and leasing of the property. At the time, all of the leases at the center were set to expire by 2014, but Lincoln already has secured long-term leases for more than 312,300 square feet at Horizon Creek.

“We knew when we acquired this property the challenge that we faced, but through an aggressive, proactive marketing effort, we have accomplished our goal of securing the long-term occupancy of Horizon Creek two years ahead of schedule,” Shamburger said. “We had a tremendously active fall leasing season here at Lincoln.”

“Horizon Creek is an outstanding property located in a great area of the city for industrial and distribution clients,” said Tony Bartlett, senior vice president of Lincoln Property Company Southeast. “Denton and our team have done a remarkable job in securing the long-term occupancy of this property and creating value for our pension-fund client.”

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

Stephen Ursery
The Wilbert Group


Behringer Harvard Links 2012 Milestones to Strategies for Future Growth

Robert S. Aisner
DALLAS, TX, Jan. 8, 2013 /PRNewswire/ -- Mr. Robert S. Aisner, President and CEO of Behringer Harvard, summarized today the key milestones achieved by the firm in 2012 and their anticipated role in the company's strategic growth in 2013 and beyond.

"During 2012, we deepened our management bench and expanded our capacity to offer innovative investment opportunities by partnering with best-in-class providers of specialized services and related expertise," said Mr. Aisner.

 "For example, our joint venture with Prospect Capital Management LLC will enable us to offer corporate debt and equity investments that address the challenges presented by today's low-yielding fixed-income vehicles."

"Our focus on real estate investment opportunities continues with our newly launched net lease platform and planned real estate investment trust program.

“These new strategies will focus on providing attractive levels of fixed income, targeting repeatable cash distributions and tax efficiencies," Mr. Aisner added.

 "I believe these and other initiatives we will pursue during 2013 are paving the way to help us meet the evolving needs and objectives of investors."

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

Jodi Phillip,
 Richards Partners for Behringer Harvard,

Barbara Marler,
 Behringer Harvard,

Brad A. Cox of Thomas D. Wood and Co. Arranges $18 Million Bridge Loan in Venice, FL

Brad A. Cox
VENICE, FL -- Brad A. Cox, CCIM, Senior Vice President with Thomas D Wood and Company, arranged a $18,000,000 Bridge Loan to refinance a Garden Apartment Property located in Venice, FL. The proceeds were used to pay off an existing Bank loan.

This non-recourse Bridge Loan was structured with a 2-year term and a floor rate of 6.25%.

Brad Cox can be reached at 941-552-9731, by email at bcox@tdwood.com, or by going to his website at bradacox.com.

Marcus & Millichap Promotes Rob Reis to Associate Vice President Investments in San Francisco Office

Rob Reis
SAN FRANCISCO, CA, Jan. 7, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Rob Reis to associate vice president investments.

The achievement represents excellence in the development and servicing of long-term client relationships, according to Jeffrey M. Mishkin, first vice president and regional manager of the firm’s San Francisco office.

            Most recently, Reis held the title of senior associate.

Jeffrey M. Mishkin
A seniors housing investment specialist and an associate director in Marcus & Millichap’s National Seniors Housing Group, Reis specializes in the sale of independent living, assisted living and skilled nursing properties in the western United States.

He began his career with Marcus & Millichap in November 2006. He has earned both a National Achievement Award and a Gold Achievement Award with the firm, and is a member of its exclusive Seven-Figure Club.

Reis closed more than $124,000,000 in seniors housing real estate transactions in 2013.


Public Relations
(925) 953-1716

Palm Beach Waterfront Fitness Club Set to Debut at Northbridge Centre in West Palm Beach, FL

Northbridge Centre
West Palm Beach, FL
WEST PALM BEACH, FL– Gaedeke Group LLC this week will unveil an upscale health club at its downtown landmark, Northbridge Centre, with one of the city's most well-known trainers, Joseph E. Maresca, as the operator.

The Palm Beach Waterfront Fitness Club, set to open Thursday, provides a new amenity for the downtown and tenants of the  21-story, 288,233-sf Northbridge Centre, located at 515 N. Flagler Dr.

The members-only health club will feature a massage suite, yoga, spin and fitness studio, state-of-the-art training and cardio equipment equipped with individual cable televisions, full line of freeweights, luxurious men's and women's shower and dressing salons, nutrition and juice bar, personal training and nutritional counseling.

Joseph E. Maresca
The personal training program at Palm Beach Waterfront Fitness Club is unparalleled. Every personal trainer at the new club is certified in Maresca's Endurance Strength Training, the ultimate fitness program.

The 25-year professional has developed a fitness and nutrition program that's more a lifestyle experience.  "I try to create exercise as a lifestyle, not something you do once a week. It's proper nutrition, proper diet and proper exercise," Maresca stresses.

JEMP Palm Beach LLC, represented by Kevin Landers of Studley, sigend an 11-year lease to operate the 5,715-sf health club. Negotiating for the Dallas-based landlord was Kirk Fetter, Gaedeke's vice president of leasing. 

Kirk Fetter
Gaedeke began construction on the fitness space about one year ago, investing nearly $500,000 into the project.  Maresca was considering space along Banyan Street for JEM Sculpting's flagship location when his broker heard about the under-construction fitness center at Northbridge.

"It was a deal that I couldn't resist," Maresca says, citing the class A quality of the high rise and tenant amenities, including valet parking.

Kevin Landers
Palm Beach Waterfront Fitness will be open from 5 a.m. to 9 p.m. Monday through Friday and 6 a.m. to 6 p.m. Saturday and Sunday.

Gaedeke Group, founded in 1995, is a full-service real estate firm that provides investment, acquisition, management, leasing construction management and portfolio management services. 

Headquartered in Dallas, Gaedeke's current portfolio encompasses three million square feet of class A office properties in Arizona, Florida, Tennessee, Texas, Washington, D.C. and Germany.


Kirk Fetter,


HFF secures financing totaling $60 million for two Los Angeles area retail centers

Brad Black
LOS ANGELES, CA – HFF announced today that it has secured financing totaling $60 million for two retail centers in the greater Los Angeles area. 

HFF worked on behalf of Shooshani Developers, LLC to secure two 10-year loans in separate transactions through Deutsche Bank. 

A $33 million loan, which was used to refinance a maturing CMBS loan, was secured for Venice Crossroads, a grocery-anchored center located near Culver City in Los Angeles.  The 156,800-square-foot retail center is 98 percent leased and is anchored by Albertsons.  Other tenants include CVS, Ross, Office Max and Chase Bank. 

Venice Crossroads Center,
Los Angeles, CA

A $27 million loan was arranged to acquire Centerpoint Mall, a power center located in Oxnard, 63 miles northwest of downtown Los Angeles.  The power center totals 380,055 square feet and is 99 percent occupied.  Tenants include Walmart, Superior Grocers, Payless ShoeSource, Dollar Tree, Rite Aid, Auto Zone and Wells Fargo.

The HFF team was led by managing director Brad Black and real estate analyst Jeff Sause.    Shooshani Developers was represented by managing member Tony Shooshani.


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 | www.hfflp.com

$37.5 million sale of Tenby Chase Apartments in Delran, NJ closed by HFF

Tenby Chase Apartments,
Delran, NJ
FLORHAM PARK, NJ – HFF announced today that it has closed the sale of Tenby Chase Apartments, a 327-unit garden-style community in Delran, New Jersey.

HFF marketed the property on behalf of the seller, Pantzer Properties.  SDK Apartments purchased the asset for $37.5 million.

Tenby Chase Apartments is located just off of Route 130 in Delran, approximately 13.5 miles east of Center City Philadelphia.  

The property is 98 percent leased and features one- and two-bedroom units, including townhomes, which average 1,387 square feet each.  Community amenities include an outdoor pool, playground and tennis court. 

Jose Cruz
The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn and Jeffrey Julien and associate director Michael Oliver.

Andrew Scandalios
“Tenby Chase has successfully raised market rents three times in the past 12 months. 

  Coupled with larger than average unit sizes, this property presented an attractive opportunity for investors,” commented Cruz. 

  “The seller took advantage of a great time to capitalize on a strong demand for multi-housing properties.”

Kevin O'Hearn
Pantzer Properties, Inc. was founded in 1971 as a vehicle for private investment in undervalued real estate. With more than $1.5 billion in assets under management, the firm is the sponsor of the Panco Strategic Real Estate Funds, a series of opportunistic real estate funds focused on the multifamily sector. 

Headquartered in New York City with offices in Rochelle Park, New Jersey and Herndon, Virginia, the firm is a fully integrated owner/operator of institutional quality properties on the east coast of the United States.

Jeffrey Julien
 Since its inception, Pantzer Properties has been involved in more than $4 billion of real estate transactions. www.pantzerproperties.com

SDK Apartments, established in the 1990’s, is a privately held real estate company headquartered in Northern NJ.  It owns, manages, acquires, rehabilitates and develops multi-family apartment complexes and medical buildings in Northeastern and mid-Atlantic United States.

SDK Apartment’s track record of securing superior risk-adjusted returns and preserving real estate values is widely recognized within the market. SDK’s mission is to provide superior financial returns for owners, investors, and partners.

While pursuing their mission, they remain committed to improving the quality of life for residents, enhancing the broader communities in which they operate, providing employees with opportunities for growth and accomplishment, and demonstrating personal integrity and dedication at all times.

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 | www.hfflp.com

HFF arranges $17.3 million in joint venture equity for Wells Fargo Center in Tampa, FL

Wells Fargo Center, Tampa, FL
SAN DIEGO, CA – HFF announced today that it has arranged joint venture equity for Wells Fargo Center, a 22-story, 387,477-square-foot Class A office tower in Tampa, Florida.

HFF worked on behalf of the borrowers, Feldman Equities and Tower Realty Partners, Inc., to secure joint venture equity from an international investment management firm.  The $17.3 million in equity was a portion of the equity needed to purchase the property.

                Wells Fargo Center is located at 100 South Ashley Drive close to the Tampa Convention Center and the Crosstown Expressway in downtown Tampa. 

  The property is 77 percent leased to tenants including Wells Fargo & Company, who is the largest anchor tenant and is under a long-term lease, Phelps Dunbar and UBS.  
Paul Stasaitis

Wells Fargo Center also includes a nine-story, 505-stall parking garage.

                The HFF team representing the borrowers was led by associate director Bryan Clark and managing director Paul Stasaitis.

Bryan J. Clark
In the last 25 years, Feldman Equities has developed or acquired over 11 million square feet of office and retail property with an aggregate value in excess of $2.5 billion.

Larry Feldman gained a national reputation as a property turnaround specialist when he was the chairman and CEO of the publicly-traded Tower Realty Trust, Inc (NYSE: TOW).  Feldman Equities is well known for its hands-on approach to turning around distressed assets.

Larry Feldman
 Tower Realty Partners is an Orlando-based commercial real estate owner focusing on value-added opportunities throughout the state of Florida. Tower was formed in 1987 by Cliff Stein and Reid Berman.

Since its inception, Tower has acquired over $1 billion of office properties.  Currently, Tower’s assets consist of over four million square feet office property throughout Florida. 

Tower owns and manages approximately one million square feet in the greater Tampa area, which includes the Palm Lake office building in North Tampa and Fountain Square II in Tampa's Westshore market.


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 | www.hfflp.com

HFF closes sale of and arranges financing for Preserve at Goose Creek in suburban Houston, TX

Preserve at Goose Creek (formerly known as Camden Baytown)
HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for Preserve at Goose Creek (formerly known as Camden Baytown), a 272-unit multi-housing community in the eastern Houston suburb of Baytown.

Craig LaFollette
HFF marketed the property on behalf of the seller, Camden Property Trust.  Allen Harrison Company, LLC purchased the property with the assistance of a 10-year fixed-rate loan that HFF secured through Freddie Mac (Federal Home Loan Mortgage Corporation). 

Todd Stewart
The securitized loan will be serviced through HFF’s Freddie Mac Program Plus® seller/servicer program.

                Preserve at Goose Creek is situated on a 13-acre site at 2100 West Baker Road, close to the Port of Houston and the ExxonMobil Chemical Baytown campus.  

The 95 percent leased property has 16 buildings with one-, two- and three-bedroom units averaging 844 square feet each.  Community amenities include a resort-style swimming pool, fitness center, picnic area with BBQ grills and business center.

Todd Marix
The HFF investment sales team representing the seller included senior managing directors Craig LaFollette, Todd Stewart and Todd Marix, and directors Tre Banks and Chris Curry. 

The HFF team representing Allen Harrison Company, LLC was led by director Cortney Cole.

Tre T. Banks
Camden Property Trust is one of the largest publicly traded multifamily companies in the United States.  

Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, development, acquisition, management, and disposition of multifamily residential apartment communities. Camden's workforce totals nearly 1,800 employees, and the company is headquartered in Houston, Texas.

Allen Harrison Company is a privately-held real estate investment and services firm focused on the acquisition, development, and construction of multifamily assets.

Chris Curry
The firm provides superior value to a wide range of investors including high net worth individuals, family offices and institutional capital partners.  Founded in 2010 by Will Harper and Paul Forbes, Allen Harrison Company is headquartered in Houston, Texas.


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 | www.hfflp.com