Thursday, May 9, 2013

World Property Channel Debuts Multi-Language News Sites, New Global Editor

Kevin Brass
MIAMI, FLI--(BUSINESS WIRE)--World Property Channel, the Miami-based global real estate news and listings platform, has debuted a redesigned Web site and hired its first global editor as part of a worldwide expansion program.

.The revamped site highlights WPC’s growing coverage of residential, commercial and vacation markets around the world. WPC is also rolling out online editions in multiple languages—including Spanish, Chinese, Arabic, Hindi, Portuguese and Japanese, initially.

And the company has launched a new advertising platform, which allows clients to specifically target different audiences within the global property community.

Michael Gerrity

“We are moving from development phase to execution phase,” said Michael Gerrity, chief executive and founder of World Property Channel. “Our global platform will create a big tent for the industry, providing daily news, data and analysis for our fast-growing audience of consumers, investors and industry professionals.”

To guide the editorial expansion, WPC has hired veteran editor and reporter Kevin Brass, who spent more than a decade covering international property markets for the International Herald Tribune and New York Times.

Mr. Brass also served as lead Middle East property reporter The National, the Abu Dhabi-based daily newspaper. Most recently Mr. Brass was public affairs manager for the Council on Tall Buildings and Urban Habitat, the not-for-profit association for architects and builders of skyscrapers.

Mr. Brass is a frequent speaker and moderator at industry events, including Cityscape, Miami International Congress and the World Green Tourism Congress.

As Global Editor, Mr. Brass will oversee WPC’s news services, develop the global news team and represent the organization in the community.

“I’m looking forward to developing World Property Channel as an indispensable resource for the global property industry,” Mr. Brass said. “We can fill huge gaps in the market, providing valuable, real-time information for our readers.”
World Property Channel ( is a news and information marketplace for the global real estate industry. The site combines high-quality, multi-language news and information programming with easy-to-use, multi-language global listing and advertising services.

This international marketplace covers residential, commercial and vacation properties and all transaction types--sales, rentals and auction--creating “one stop shopping” for the worldwide property community.

WPC's News Syndication Service provides a regular stream of international property news to Web sites around the world.

For more information:


David Pearson Associates, Miami, Fla.
David Pearson, 305-798-8446

Marcus & Millichap Sells 36,000-SF Office Building in Hollywood, FL for $3.79 Million


                        Regions Bank Building, Hollywood, FL

HOLLYWOOD, FL, May 9, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Regions Bank Building, a 36,000-square foot office property located in Hollywood, FL. The asset commanded a sales price of $3,790,000.

Douglas K. Mandel
First Vice President Investments Douglas K. Mandel in Marcus & Millichap’s Ft. Lauderdale office had the exclusive listing to market the property on behalf of the seller, a private investor from Hollywood, FL.  The buyer, a limited liability company from Golden Beach, FL was also secured and represented by Mandel. 

The Regions Bank Building is a 36,000-square foot, eight-story mid-rise office building.  The property features covered parking, building signage and a fully updated drive thru.

The Regions Bank Building is currently 84 percent leased by a mix of corporate and local professional tenants. There is an added benefit of income from several rooftop telecommunications antennas, including leases with Verizon, SprintPCS, and AT&T Communications.

Constructed in 1976, the high visibility building is located just north of Hollywood Boulevard at 450 North Park Road in Hollywood, FL.
 For a complete copy of the company’s news release, please contact:

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

Greystone Acquires Two Development Properties in Brooklyn, NY

       137-43 North 10th Street in Williamsburg
       between Berry Street and Bedford Avenue, 
       Brooklyn, NY

New York, NY, May 9, 2013 – Greystone, a New York-based real estate development and financial services company, today announced that it has acquired two development properties in Brooklyn, New York with a projected value of over $50 Million.

Douglas Benach
The transactions were closed by the Greystone Property Development team, overseen by Douglas Benach.

 The first property is located at 137-43 North 10th Street in Williamsburg between Berry Street and Bedford Avenue. The building is a five-story, 30,000 square foot loft conversion.

Greystone plans to convert the building into a 36-unit high-end multifamily property, featuring 12 foot ceilings, large windows, central HVAC and a community style rooftop space.

Jeffrey Simpson
 The second property acquired is a vacant development site at 47-51 Bridge Street in Dumbo, Brooklyn. The site will be transformed into a 27-unit ground-up, multifamily rental project with amenities. 

Both acquisitions were acquired within the last 60-days.
“We believe in the incredible growth occurring throughout Brooklyn as it becomes one of the premier housing destinations in the region,” said Jeffrey Simpson, Director in Greystone’s Property Development business.

“The buildings will be developed to provide great New York City quality living, while maintaining and celebrating Brooklyn’s unique and vibrant past.” 

47-51 Bridge St., Dumbo, Brooklyn, NY

 The Greystone Property Development team, based in New York, is currently working on a number of projects in prime locations throughout the five boroughs, from the West Village up to City Island in the Bronx.

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

Loretta Mock/Josh Gerth
+1 646 395 6300

Colliers' Brokers Ronald Schagrin and Elias Porras Administer Scholarships that Support South Florida Music Students

                       Heather Coltman, DMA, Dean of the Dorothy F. Schmidt
                       College of Arts and Letters at Florida Atlantic University, 
                       accepted a check for $50,000 for its scholarship program
                       from Ronald A. Schagrin, chairman, and Elias Porras,
                       secretary, of the Georgina Dieter Dennis Foundation.

MIAMI, FL, May 9, 2013 - Commercial real estate broker Ronald Schagrin met Georgina Dieter Dennis when she had retired to Fort Lauderdale following a glittering career as a singer and vaudeville entertainer. Today Schagrin and Elias Porras are officers of a foundation that keeps Ms. Dennis' name alive by supporting aspiring singers.

Gilda Radner
Schagrin and Porras, brokers with Colliers International South Florida, say this is their way of giving back to the community that has been good to them. 

The colleagues, who are based in Colliers' Fort Lauderdale office, have been handling commercial, retail, and industrial sales and leases in South Florida for more than 25 years.
Schagrin's volunteer activities extend to Gilda's Club South (named for the late Gilda Radner) where he was a founder and also served as board chair. Gilda's Club is an organization that benefits men, woman and children whose lives have been touched by cancer.
Georgina Dieter Dennis
1932 Broadway Musical
Playbill Photo
Heather Coltman, DMA, Dean of the Dorothy F. Schmidt College of Arts and Letters at Florida Atlantic University, accepted a check for $50,000 for its scholarship program from Ronald A. Schagrin, chairman, and Elias Porras, secretary, of the Georgina Dieter Dennis Foundation.

Georgina Dieter Dennis (1913-2006) was just 12 years old when she won the New York Music Week Association Junior Bronze Medal.

 A scholarship to the Institute of Musical Arts of the Juilliard Foundation led to a long career, starting with her debut at New York's Town Hall in 1937. Ms. Dennis performed in all 48 states during World War II and appeared for the USO with James Victor's band.

 When she was in her nineties, Ms. Dennis, grateful for the early voice training she had received, set up her foundation to provide scholarships to aspiring singers who are Florida residents attending Florida colleges or universities.

 Florida Atlantic University and the University of Miami music programs qualified for this year's scholarship grants.

  Schagrin and Porras, who had met her socially, volunteered to help Ms. Dennis set up the foundation and, following her death in 2006, committed to administer its work by handing out scholarships to eligible vocal music programs at Florida universities. The funds disbursed are then administered by the host schools.

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

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

HFF closes $16.1 million sale of Bethesda, MD office property

                             7220 Wisconsin Avenue, Bethesda, MD

Jim Meisel
WASHINGTON, D.C. – HFF announced today that it has closed the sale of 7220 Wisconsin Avenue, a 40,325-square-foot office property in Bethesda, Maryland.

HFF marketed the property exclusively on behalf of the seller, The JBG Companies.  Peel Properties purchased the asset for $16.1 million free and clear of existing debt.

Dek Potts
The asset is located in downtown Bethesda within walking distance to Bethesda Row, a mixed-use development featuring a variety of upscale dining, retail and lifestyle tenants.  The building is 95 percent leased to a diverse mixture of tenants including BB&T and the American College of Medical Genetics. 

Andrew M. Weir
The HFF investment sales team representing the seller was led by senior managing directors Jim Meisel, Dek Potts and Andrew Weir, executive managing director Stephen Conley and senior real estate analyst Jessica Dickinson.

“This property provided investors an excellent chance to obtain a well-maintained boutique office space in one of the most coveted and best performing markets in the Washington, D.C. area,” commented Meisel.

Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties.  The company has more than $10 billion in assets under management and development in the Washington, D.C. area. 

Stephen Conley
Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities.  More information can be found by visiting the company's website:

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

HFF closes sale of office/R&D business park in Silicon Valley, Santa Clara, CA


              Park Square Business Park, Santa Clara, CA

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of  Park Square, an office/R&D business park totaling 465,000 square feet in Santa Clara, California. 

Michael Leggett
                HFF marketed the properties on behalf of the seller, a joint venture between two global investment managers.  The Irvine Company purchased the property for an undisclosed amount.

                The property is adjacent to Highway 101 near Lawrence Expressway in Santa Clara.  Situated on 31.1 acres, Park Square includes 13, single- and two-story buildings that are 60 percent leased.  Constructed between 1977 and 1978, the property has been institutionally maintained and has recently undergone significant capital and tenant improvements.

The HFF team representing the seller was led by senior managing director Michael Leggett, managing director Steven Golubchik and associate director John Simerlein

                 “This asset offered investors the opportunity to acquire more than 30 acres with freeway visibility.  The properties are well-positioned to significantly increase cash flow with the lease up of vacant space and achieve higher rental rates as near-term tenants expire,” commented Leggett.

John Simerlein
The Irvine Company is an internationally renowned real estate development company known for its award-winning master-planned communities, its vast portfolio of high-quality investment properties and its leadership in preservation and stewardship of open space.  The company’s real estate portfolio encompasses office, apartment, retail and resort holdings located throughout California’s premier markets, including San Diego, Orange and Los Angeles counties and Northern California.
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Nashville’s new $585 million convention center to open May 19


                         Music City Center, Downtown Nashville, TN
Andy McLean
NASHVILLE, TN (May 9, 2013) – An all-new landmark in Music City’s iconic downtown will open its doors May 19. At 1.2 million square feet of convention center area, Music City Center will give Nashville a bigger stage to host larger conventions and meetings and, ultimately, to make a greater impact on the economy of the city and state.

Collaboration among architecture firms tvsdesign, Tuck-Hinton and Moody Nolan, the construction team of Bell/Clark/Harmony and the Nashville mayor’s office led to design cues that incorporate iconic scenes and sounds from Nashville and the state.  

Bridgestone Arena, Downtown Nashville
“There is a lot of love, care, heart and soul that have gone into this project from all three firms, the construction team and the mayor,” said Andy McLean with tvsdesign, one of the project’s principal architects. “We all wanted to create a landmark that would not only make Nashville proud but also reflect the unique culture of the area.”

The new center anchors a 16-acre site just south of Broadway between Fifth and Eighth Avenues and Demonbreun and Korean Veterans’ Boulevard, adjacent to both the Bridgestone Arena and Country Music Hall of Fame and Museum. It’s already serving as an anchor to economic development – more than 100 meetings and 800,000 hotel room nights have been booked.

Country Music Hall of Fame and Museum
For a complete copy of the company’s news release, please contact:

Ashleigh Daniel
P 404-214-0932
C 404-219-8385

National Retail Properties, Inc. Announces Put Option Notification For 5.125% Convertible Senior Notes

ORLANDO, FL, May 9, 2013 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it is notifying holders of its outstanding 5.125% Convertible Senior Notes due 2028 (the "Notes") that, pursuant to the terms of the Notes and the indenture governing the Notes, they have the option to require the Company to purchase, on June 17, 2013 (the "Repurchase Date"), all or a portion of their Notes (the "Put Option") at a price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but not including, the Repurchase Date.

 The Company will pay for any Notes validly surrendered and not validly withdrawn with cash. 

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