Wednesday, January 23, 2013

Emory Point retailers open for business in Atlanta, GA

Emory Point rendering, Atlanta, GA
 ATLANTA (Jan. 22, 2013) – Retailers at the first phase of Emory Point, the $100+ million mixed-use project developed by Cousins Properties Incorporated (NYSE: CUZ) with Gables Residential in northeast Atlanta, are now open for business.

The project is also in the pre-development stages for Phase II, which will include an additional 40,000 square feet of retail and restaurant space.

 The development – a collaboration between Atlanta-based firms Cousins and Gables – is the first ground-up retail development in the Emory market in 20 years, and was one of the first construction projects started in Atlanta after the recession.

The 80,000-square-foot retail component of Phase I is nearly 90 percent committed, with only three spaces remaining available for lease.

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

Rachel Tobin,
Jackson Spalding                                                                                                                                               
(404) 724-2501;

Loews Hotels & Resorts Purchase The Back Bay Hotel in Boston, MA

The Back Bay Hotel, Boston, MA

NEW YORK, NY  — Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L),  announced that the company has entered into an agreement to purchase The Back Bay Hotel in Boston from The Doyle Collection.  The acquisition is expected to close in February 2013.

“Boston is one of the most vibrant markets in the U.S., and an excellent city for a Loews property,” said Jonathan Tisch, Chairman of Loews Hotels & Resorts.  “This one-of-a-kind, historic hotel is a unique addition to our growing portfolio.”

Jonathan Tisch
The announcement of The Back Bay Hotel in Boston follows the news of another recent acquisition, the iconic 356-room Madison Hotel in the heart of Washington, D.C.  The Loews portfolio will now include 21 hotels, including two under construction in Orlando and Chicago.

  Like Loews Hotels & Resorts on Facebook:
Follow Loews Hotels & Resorts on Twitter:
Watch Loews Hotels & Resorts on YouTube:

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

Lark-Marie Anton                                                                    
(212) 521-2779    
Sarah Murov(
212) 521-2495

Cuhaci & Peterson Completes Design of new Publix Supermarket at Lake Nona Plaza in Southeast Orlando, FL

Lake Nona Plaza, Orlando, FL
ORLANDO, Fla. -- Cuhaci & Peterson Architects, Engineers, Planners based in Orlando’s Baldwin Park designed the new Publix supermarket in the Lake Nona Plaza off Narcoossee Road in Southeast Orlando.   The store recently opened for businesss.

 Lonnie Peterson, chairman of Cuhaci and Peterson, said the supermarket is 54,000 square feet, and there is another 23,000 square feet ready for build out that will eventually accommodate retail shops at the center. 

Lonnie Peterson
Lake Nona Property Holding is the developer of the project.


 Lonnie Peterson, Chairman Cuhaci & Peterson 407-661-9100;
Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100;
Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142,   

Rubenstein Partners Finalizes Year-End Dispositions

David Rubenstein
PHILADELPHIA, PA /PRNewswire/ -- Rubenstein Properties Fund, L.P. (Rubenstein) announced the year-end disposition of two significant Southeast U.S. office assets following the execution of Rubenstein's value-added office investment strategy.

The two transactions involved 64/66 Perimeter Center East (64/66 PCE), located in Atlanta's Central Perimeter District, and NASCAR Plaza in Charlotte's Central Business District. 

The combined sales total approximately $218,000,000 on 974,000 sf of office space. 

NASCAR Plaza, Charlotte, NC
David Rubenstein, Senior Managing Partner said, "The acquisition, management, stabilization and subsequent sale of these assets epitomize the Fund's value-added approach to real estate investing."

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

 Michael O'Callaghan,

Essex Realty Group Brokers Sale Of Mixed-Use Building in Chicago, IL

3174 Broadway, Chicago, IL
 CHICAGO, IL, Jan. 23, 2013-- Essex Realty Group, Inc. is pleased to announce the sale of 3174  N. Broadway, an 18 unit Mixed-Use building located in the heart of the East Lakeview neighborhood in the City of Chicago.

 The property is situated at the corner of Belmont and Broadway, one of the city’s most desirable intersections, and is ideally located to take full advantage of this high density/high disposable income neighborhood.

James Darrow
 The building features a unit mix of 2 one-bedroom apartments, 10 two-bedroom apartments, 6 storefronts and 4 parking spaces.

Jim Darrow and Jordan Gottlieb of Essex were the brokers in the transaction.  The price was approximately $5,500,000.

Jordan Gottlieb
 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

 If you would like more information, please call Doug Imber at 773.305.4902 or e-mail him at

 Essex Realty Group, Inc.
2211 N. Elston Avenue, Suite 302
Chicago, Illinois 60614

Cohen Commercial Realty Signs Home Care Assistance of Palm Beach County in New Lease Transaction

Crystal Tree Center,
North Palm Beach, FL
 North Palm Beach, FL— Bryan S. Cohen, Chris Haass, and Eddie VanderWerff of Cohen Commercial Realty, Inc., announced today the signing of  Home Care Assistance of Palm Beach County, to lease a 1,177-square-foot bay at Crystal Tree Center located on the northeast corner of U.S. Highway 1 and Golfview Road.  Capital Realty Advisors represents the landlord, and Cohen Commercial Realty represents the tenant.

Cohen Commercial Realty Signs Anna’s Italian Restaurant & Pizzeria in New Lease Transaction 
Lakeside Shopping Center
Port St. Lucie, FL
Port St. Lucie, FL — Bryan S. Cohen, Chris Haass, and Eddie VanderWerff of Cohen Commercial Realty announced the signing of Anna’s Italian Restaurant & Pizzeria to lease a 1,950-square-foot space at Lakeside Shopping Center located on the northeast corner of SE Port St Lucie Boulevard and SW Bayshore Boulevard.

Cohen Commercial Realty represents the tenant who will join H&R Block, Barry University, Quick Weight Loss Center, and John Smith Subs at the center.


 Jamie Crocker 561-471-0212
Cohen Commercial Realty, Inc.
P.O. Box 223244
West Palm Beach, FL 33422

Hartman Simons in Atlanta, GA Promotes Attorneys Ryan Rivera and Irene Vander Els

Irene Vander Els
 ATLANTA, GA – The Hartman Simons & Wood LLP commercial real estate law firm has promoted Ryan Rivera and Irene Vander Els to partner and senior counsel, respectively.

 Rivera, a graduate of Emory University School of Law who joined the firm as an associate in 2004, has extensive commercial real estate experience and has handled acquisition, disposition, development and lease transactions throughout the United States. He has represented national and local developers and tenants in all types of lease transactions, including retail, office, industrial and ground leases.

Ryan Revera
Vander Els, a graduate of Florida State University College of Law who joined the firm as an associate in 2009, has represented clients in a wide variety of matters, such as complex commercial disputes and commercial real estate litigation, including foreclosure confirmations.

 “We are extremely excited about the promotions of Ryan and Irene,” said Summey Orr, managing partner of Hartman Simons. “They have established themselves as invaluable members of our team here, and we look forward to them serving our clients for years to come.”

 For more information,  check out our website at and our blog


Stephen Ursery
The Wilbert Group

Regency Centers Names Joanna Rotonde to Lead Northeast Acquisitions and Dispositions

Joanna Rotonde
 JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers (NYSE:REG), a national owner, operator and developer of grocery-anchored and community shopping centers, recently appointed Joanna Rotonde to lead its acquisitions and dispositions efforts for the Northeast region of the United States.

She is responsible for identifying, evaluating and structuring profitable property acquisition and disposition opportunities within Connecticut, Massachusetts, New Jersey, New York and Pennsylvania.

Rotonde recently served as assistant vice president for Urstadt Biddle Properties, Inc. where she helped identify and close $125 million in acquisitions of grocery-anchored and community shopping centers in the suburban metro New York area. She has been recognized among top women in real estate by the New York Real Estate Journal four years in a row.

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

Regency Centers Corporation
Cohn Marketing
Lisa Wieting, 720-233-3791
Barry Argalas, 904-598-7000
Senior Vice President, Transactions

SL Capital Arranges CMBS Financing For Purchase of Busy Retail Plaza in Phoenix, AZ

Constantine Scurtis
MIAMI, FL -- SL Capital, an exclusive correspondent of Cantor Commercial Real Estate, has financed the acquisition of a retail plaza in Phoenix, providing the new owners with a collateralized mortgage-backed security (CMBS) loan. The $3.46 million mortgage for Corner on 7th has a five-year term and amortizes over 30 years.

 The 16,176-square-foot property was built in 1948 and renovated in 2011with a new exterior, and new mechanical and plumbing systems. The center is in a busy business district with over 300,000 daytime employees within a 5-mile radius.

 Five of the nine suites are occupied by corporate franchises or franchisees with extensive operating histories: Chipotle Mexican Grill, Five Guys Burgers and Fries, How do you Roll?, Jersey Mike’s Subs and Arizona-based Zoyo Neighborhood Yogurt.

 The buyers paid $6.84 million, or $422 per square foot, for the property. 

 SL Capital Chairman and CEO Constantine Scurtis said CMBS financing made perfect sense in this deal.

 “The client was able to take advantage of competitively low rates with no recourse, and secure larger proceeds than with a traditional bank mortgage,” he said. “It’s a great option for a commercial real estate owner/investor looking to finance or refinance a stabilized retail, office, multifamily or industrial property. The CMBS market is definitely making a comeback from its peak of several years ago.”

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

Todd Templin
Executive Vice President
Boardroom Communications

(954) 370-8999
(954)290-0810 (Cell)
(954) 370-8892 Fax
1776 N. Pine Island Road,
Suite 320,
 Plantation, FL 33322

NAI Realvest Negotiates Two New Retail Leases at Village Market Place of Lake Mary, FL; Boosts occupancy to 90 Percent

Mitch Heidrich

 MAITLAND, FL– NAI Realvest recently negotiated two new lease agreements totaling 3,500 square feet of retail space at Village Market Place of Lake Mary located at 3818 S. Orlando Drive (U.S. 17-92) in Sanford.

 NAI Realvest Associate Mitch Heidrich brokered both transactions representing the New York City based landlord, Herdor, LLC.

 DC Turnbulls Martial Arts, LLC is the new local tenant who leased 2,450 square feet at the retail center.  DC Turnbulls, which provides instruction and training in Tae Kwon Do and other martial arts, will occupy Suites 3842 and 3844.

Village Market Place of Lake Mary aerial
Sanford, FL
At the same time, Liberty Tax Service, Inc. headquartered in Virginia Beach, Va. leased Suite 3830 with 1,050 square feet at the retail center. 

 The 69,029 square foot Village Market Place of Lake Mary is now 90 percent leased.


Mitch Heidrich, Associate NAI Realvest, 407-875-9989;  
Patrick Mahoney, President, NAI Realvest 407-875-9989
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

DiMucci Companies to Open New Headquarters Facility on Dunlawton Blvd in Daytona Beach Shores, FL

Daytona Beach Shores, FL --- The DiMucci Companies, which develops luxury oceanfront condominiums and Dimucci Realty Company which specializes in resales and rentals in Volusia, will open a new 3,500 square foot headquarters  on Dunlawton Blvd. in Daytona Beach Shores in February. 

This will be the new home for Dimucci’s Development Company, Realty Company and Construction company.

Anthony DiMucci, who heads the DiMucci Companies, said he has set aside a 750 square foot retail area with a drive through window.  This retail space is still available for  someone looking to open a small business in this location. 


Tony DiMucci or Corinne LeClaire, DiMucci Companies 386-322-2000
Larry Vershel Communications, Larry Vershel or Beth Payan 407-644-4142

Newmark Grubb Knight Frank Named Exclusive Brokers in Sale of Intracoastal Development Site on Halifax River in South Daytona, FL

South Daytona, FL --- Newmark Grubb Knight Frank has been named exclusive broker in the sale of a unique 6.2-acre commercial development site on the Halifax River in South Daytona.

Mark Eilers, Managing Director at Newmark Grubb Knight Frank, said the riverfront site could be perfect for a luxury condominium, hotel or mixed-use development and the timing is equally good: impact fees for development of the site are discounted 75 percent for the next two years.

Mark Eilers
The site offers 603 feet of Halifax River frontage and PUD zoning that allows development of 372 units, or 60 units per acre. The site’s Mixed Use 1 designation in the City of South Daytona permits residential, commercial, office, lodging or public uses.

“There’s also the potential to develop a marina with direct access to the Intracoastal Waterway and the Atlantic Ocean,” Eilers said.

Eilers and Associate Jason Archer of Newmark Grubb Knight Frank are leading the marketing assignment for the property.

Media contacts:

Mark Eilers, Managing Director, Newmark Grubb Knight Frank, 813-505-0066
 Jason Archer, Associate Newmark Grubb Knight Frank, 404-926-1115
 Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407 644 4142

The Hotel Spa Recovery Begins

Andrea Foster
Boston, MA– After lagging behind other hotel revenue sources, hotel spas began to see their sales recover in 2011, and this trend is expected to continue for the foreseeable future. 

According to PKF Consulting USA, LLC’s (PKFC) recently released Trends® in the Hotel Spa Industry report, hotel spas enjoyed an 8.3 percent increase in department revenue in 2011, after suffering declines the three previous years.  

For comparison purposes, rooms and food and beverage revenue began to climb out of the industry recession and post revenue growth starting in 2010.

“If we look to Maslow and his hierarchy of needs, we understand that basic needs include food and shelter, but do not include perceived ‘luxuries’ such as spa and wellness treatments,” said Andrea Foster, vice president and national director of spa and wellness consulting for PKFC.

 “In a recession and in the initial recovery that follows, consumers are hesitant to spend on products and services that are beyond basic necessities.  We are pleased to begin seeing the loosening of purse strings for purchases that help support a healthier lifestyle.”

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

Andrea Foster                                                  Chris Daly
PKF Consulting USA, LLC.                            Daly Gray Public Relations
Tel: 617 330 8189                                          Tel: 703 435 6293
Email:                         Email:                                        

ZipRealty’s Lanny Baker Named One of the Most Influential Real Estate Leaders by Inman News

Lanny Baker
 EMERYVILLE, CA– Lanny Baker of ZipRealty, Inc. ( (NASDAQ: ZIPR), the leading online technology-enabled residential real estate brokerage company, has been named to the Inman 100, an annual list of the Most Influential Real Estate Leaders.

The honor recognizes real estate professionals “who embody leadership, ingenuity, strength, conviction, power, persistence, perseverance and progress – their voices and actions can move the industry toward change,” according to a press release issued by Inman News on Jan. 18. 

Media Contact:

Stacey Corso

Spence Hill Associates Arranges $2 Million of Permanent Financing for Woodbridge, VA Shopping Center

 FALLS CHURCH, VA – Jan. 23, 2013 – Spence Hill Associates announced today that it has arranged $2,006,000 of permanent financing for Delaney Plaza, a 9,775 square-foot shopping center located at 4800-4812 Dale Boulevard, Woodbridge, Virginia.

 Michael H. Trauberman, Managing Director of Spence Hill Associates, arranged and negotiated the financing on behalf of Woodbridge Village, LLC of Alexandria, Virginia.  The 10-year loan was placed with a Virginia-based bank, and features an initial five-year, fixed interest rate of 3.40%.

Mr. Trauberman commented:  “Only 31 days passed from execution of the lender’s term sheet until settlement – and that includes holidays.  This was significant since the success of the transaction was dependent upon closing in a highly compressed timeframe.”

 Delaney Plaza is a neighborhood convenience center situated at the signalized intersection of Dale Boulevard and Delaney Road.  The center is on the “commute home” side of Dale Boulevard, and provides residents and commuters with quick options for food and services.  Traffic counts are in excess of 25,000 cars per day.  The center features a mix of national, regional, and local tenants including Papa Johns and Tire Zone.

 Spence Hill Associates, a real estate investment banking firm founded in 1993, arranges the financing and sale of commercial real estate, and provides financial advisory services to real estate owners, developers, and institutions throughout the United States.  Spence Hill Associates is headquartered in Falls Church, Virginia.

 For additional information, please contact:

Michael H. Trauberman
Spence Hill Associates

Plaza Advisors Announces Sale of Woodlake Plaza in Greenacres, FL

Jim Michalak
 TAMPA, FL -- Plaza Advisors is pleased to announce the sale of a grocery anchored shopping center named Woodlake Plaza in Greenacres (Palm Beach County) Florida.

The asset is situated at the intersection of Lake Worth Road and Sherwood Forrest Boulevard and totals 131,210 square feet of gross leasable area.

The major tenants include Monterrey Market, Dollar General, Goodwill, Phoenix Theatres, and Medical Institute of Palm Beach. The property also contains shadow freestanding outparcels: TD Bank, ABC Liquors, Olive Garden and Tire Kingdom. The asset was constructed in 1988 and was 97.6% leased at the time of sale.

Paul Bores
Jim Michalak and Paul Bores of Plaza Advisors represented the seller in the transaction. The seller and buyer were JBH Woodlake Plaza LLC and a south Florida private equity investor, respectively. 

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the State of Florida. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.

 Plaza Advisors has closed over 100 shopping center transactions, with a combined GLA exceeding 13 million square feet with an aggregate sales volume in excess of $1.5 billion.


Jim Michalak
Managing Partner

3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627