Monday, June 10, 2013

Cohen Commercial Realty Signs Five Retail Leases in South Florida


Haverhill Plaza, Greenacres, FL
  
Greenacres, FL --  Bryan S. Cohen, William Soled, and Jason Guralnick announced today the signing of A Place for You Adult Daycare & Rehabilitation Center, to lease a 2,600-square-foot unit at Haverhill Plaza located on the southeast corner of Haverhill Road and 10th Avenue North.  Cohen Commercial Realty represents the landlord of the property.

Crossroads Plaza, Lake Worth, FL

Lake Worth, FL -- Bryan S. Cohen, William Soled, and Jason Guralnick announced today the signing of Clearview Risk Services, to lease a 2,200-square-foot unit at Crossroads Plaza located on the southwest corner of Lake Worth Road and Jog Road.  Cohen Commercial Realty represents the landlord of the property. 


Mil Lake Plaza, Greenacres, FL

Greenacres, FL — Bryan S. Cohen, William Soled, and Jason Guralnick announced today the signing of Net Talk Wireless, to lease a 1,200-square-foot unit at Mil-Lake Plaza located on the northwest corner of Lake Worth Road and Military Trail. Cohen Commercial Realty represents the landlord of the property.

Waterside Plaza, Lake Worth, FL

Lake Worth, FL -- Bryan S. Cohen, and Allan Carlisle announced today the signing of Trina’s Shoes, to lease a 1,260-square-foot unit at Waterside Plaza located on the northeast corner of 10th Avenue North and Florida Mango Road.  Cohen Commercial Realty represents the landlord of the property. They join El Presidente, Wendy’s and Flanigan’s Seafood Bar and Grill.  

Flagler Square, West Palm Beach, FL

West Palm Beach, FL— Bryan S. Cohen, William Soled, and Jason Guralnick announced today the signing of The James R Whelan Agency, to lease a 2,966-square-foot unit at Flagler Square located on the southeast corner of Forest Hill Boulevard and Florida Mango Road. Cohen Commercial Realty represents the landlord of the property.


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

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


$12.4 Million Lowe’s Ground Lease in Windham, ME Sold by Marcus & Millichap



                        Lowe's, 64 Manchester Drive, Windham, ME


WINDHAM, ME, June 10, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a triple-net ground lease on a 138,134-square foot Lowe’s in Windham, Maine. The $12,406,015 sales price equates to $90 per square foot.

Robert Horvath
            Robert Horvath, a vice president investments, and Todd Tremblay, an associate vice president investments, both in Marcus & Millichap’s Boston office, represented the seller, a regional owner and developer. The buyer is an institutional net-leased properties investor.

“Many investors are seeking stable, less-management-intensive investments and are targeting assets with long lease terms,” says Horvath. “The original 20-year lease on this Lowe’s was signed in March 2005, which leaves 12-plus years on the initial term.”
“The lease also has six five-year options to renew and rental increases of five percent are scheduled to occur at the commencement of each exercised option period,” adds Tremblay. “The ground lease is absolute triple-net with zero landlord responsibilities.”

Todd Tremblay
Located at 64 Manchester Drive in Windham, Maine off U.S. Route 302, a main thoroughfare through Southern Maine known as the Roosevelt Trail, the Windham Lowe’s is situated within a well-established retail trade area with proximity to numerous national tenants.

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

Ben Johnson
Marketing Director

(925) 953-1736

Condo Vultures Founder To Assess Winners, Losers Of Next Condo Boom

   


Christine Lee's at Gulfstream Park, Miami, FL

MIAMI, FL -- South Florida is in the early stages of the region's latest construction boom with nearly 140 new condo towers proposed - and counting - but predictions are already being made about the potential success - or lack thereof - of the projects slated to go up in the coastal markets of Miami-Dade, Broward, and Palm Beach counties.

Peter Zalewski
Peter Zalewski, founder of Condo Vultures® LLC and the Miami Association Of Realtors' 2011 Market Advisor Of The Year, is scheduled to provide his assessment of the latest boom in a keynote speech entitled "Winners And Losers Of South Florida's New Condo Construction Cycle" to the Aventura Marketing Council on Wednesday, June 12, at Christine Lee's at Gulfstream Park.

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

225 Midtown Building
 225 NE 34th St.,
Suite 209B,
Downtown Miami, Florida, 33137.
800-750-0517.

Chatham Lodging Announces Monthly Dividend

  

 PALM BEACH, FL, June 10, 2013—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, today announced that its board of trustees has declared a monthly common share dividend of $0.07 for June 2013.  The common dividend is payable July 26, 2013, to shareholders of record on June 28, 2013.


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

Jerry Daly                                                                                   
Daly Gray Public Relations                                                   
(Media)                                                                                       
(703) 435-6293                                                                           

 Dennis Craven
Chatham Lodging Trust
 (Company)
(561) 227-1386  

Morrison Commercial Real Estate Completes Two Lease Transactions Totaling 17,507 SF in Central Florida Research Park



Challenger Tech Center in Central Florida Research Park, Orlando, FL


Lisa Bailey
 ORLANDO, FL (JuNE 10, 2013):  Morrison Commercial Real Estate announced the completion of two lease transactions totaling 17,507± square feet at Challenger Tech Center in the Central Florida Research Park.

Greg Morrison
 Greg Morrison, CCIM, SIOR and Lisa Bailey of Morrison Commercial Real Estate represented the landlord in leasing 14,647± square feet at Challenger Tech Center III located at 2603 Challenger Tech Court to HostDime.com.  Coughlin Commercial represented the Tenant in this transaction.

 Morrison and Bailey also represented the landlord in leasing 2,860± square feet to Plasmonics, Inc. at Challenger Tech Center I at 12605 Challenger Parkway, Orlando, FL.  

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

Marylyn Tryon
Administrator and Marketing Assistant
Morrison Commercial Real Estate
255 S. Orange Avenue, Suite 1545
Orlando, Florida 32801
407.219.3500 | 407.219.3501 fax
407.440.6639 Direct Dial (Please Note)

Trepp and Rockport Transform Management of Commercial Real Estate Investments with TreppPort 2.0


New York, NY – June 10 2013  --  Trepp LLC, the recognized leader in CMBS information, and The Rockport Group, the leading provider of commercial mortgage lending and asset management software, announced today the release of TreppPort 2.0, an enterprise level commercial real estate solution.

 This new release of TreppPort advances the capabilities of the web-based platform to deliver a mobile, interactive visualization of real estate exposure.

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

Great Ink Communications
Eric Gerard, Lindsay Church
212-741-2977

Dade County, FL Retail Strip Sells for $11.75 Million



    Essex Shopping Center, Hialeah, FL
Drew Kristol

 HIALEAH, FL, June 10, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Essex Shopping Center, a 75,592-square foot retail strip in Hialeah, Fla. The $11,750,000 sales price equates to $155 per square foot.

            Vice presidents investments Alex Zylberglait, Drew Kristol and Kirk Olson, all in Marcus & Millichap’s Miami office, represented the seller, a private investment group based in Miami.

Kirk Olson
Arthur Porosoff, an associate vice president investments and Jorge Ruiz, an associate, both also in the firm’s Miami office, represented the buyer, another Miami-based investment group.

            “Investors are increasing their focus on Hialeah due to the submarket’s low vacancy rate and strong population density,” says Zylberglait. “Essex Shopping Center provides the new owner with an opportunity to earn an exceptionally strong immediate return.”

Alex Zylberglait
“Hialeah is one of Miami-Dade County’s significant retail submarkets and this shopping strip is ideally located on a signalized corner,” adds Olson. “The center provides a great opportunity to reposition through modernization of the fa├žade and increasing rents on several tenants that are currently paying below market rate rents.”

The property was built in 1948 on a perfectly square 5.23-acre lot at 435 Hialeah Drive on the hard corner of Hialeah Drive and East 4th Avenue in central Hialeah. Many national retailers including Walgreens, McDonald’s, Dunkin’ Donuts, Wendy’s and Publix surround the location.

The major tenants at Essex Shopping Center are Payless ShoeSource, GNC, Advance America and Sunshine Citgo.

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

Ben Johnson
Marketing Director
(925) 953-1736


Chicago's Bradley Business Center Announces Tribune Company Lease First phase of Bradley Business Center 100 percent leased

  
Bradley Business Center, 
near Addison Street and Western Avenue
Chicago, IL

 CHICAGO, IL  (June 10, 2013) – The Tribune Company has leased 18,500 square feet of distribution space at 2500 West Bradley Place, the 350,000-square-foot second phase of Bradley Business Center located near Addison Street and Western Avenue.

Michael McLean
The Bradley Business Center is a 350,000-square-foot joint venture of Centrum Partners and Hansen Realty. Located at 2500 West Bradley in Chicago’s Vibrant North Center neighborhood, the Bradley Business Center will deliver Class A office space for-sale and lease to one of Chicago’s most desirable residential neighborhoods.

 “Logistically, Bradley Business Center’s easy access to I-90/94 offers the perfect solution for the Tribune Company’s distribution needs,” said Michael McLean, senior vice president of Centrum Partners, developer of the Bradley Business Center. “The recently reinvented building also provides plenty of flexibility for future expansion.”


Rick Hansen
Bradley Business Center has also attracted some unique tenants to serve the needs of the highly educated young families in the surrounding neighborhood.

Late last year, the 150,000-square-foot first phase of the Bradley Business Center at 2630 West Bradley Place became fully occupied with leases to Goldfish Swim School and IK Gymnastics.

 “We are continuing to build on our success with sports and recreational tenants, who seem to flourish at the site and are loved by the community,” said Rick Hansen, president of Hansen Realty.

 “These businesses provide options to families who don’t want to travel great distances to suburban locations in order to provide extracurricular activities for their kids. We are now excited to focus on the second phase of the Bradley Business Center and bring more opportunities like this to residents in the area.”

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

Mark Thomton,

312-267-4523

HFF secures $10.65 million financing for Hampton Inn near Burlington, VT



Colchester Hampton Inn, Colchester, VT

BOSTON, MA – HFF announced today that it has secured $10.65 million in financing for the Colchester Hampton Inn, a 187-room, limited-service hotel in Colchester, Vermont.

Greg LaBine
                Working exclusively on behalf of Linchris Hotel Corporation, HFF placed the long-term, fixed-rate first mortgage with People’s United Bank.  Loan proceeds were used to refinance the existing loan and fund closing costs.

                The Colchester Hampton Inn is located at 42 Lower Mountain View Drive just off Interstate 89 and across from the Park at Water Tower Hill, home to companies including KPMG, Fletcher Allen Health Care and WPTZ Channel 5. 

The property is also convenient to both downtown Colchester and Burlington, Lake Champlain, Malletts Bay, Centennial Field, Fletcher Allen Medical Center, The Burlington International Airport and five area colleges and universities.

 The hotel features 6,264 square feet of conference space, an exercise facility and a 5,000-square-foot freestanding restaurant leased to the Lighthouse Restaurant.

                The HFF team representing Linchris Hotel Corporation was led by director Greg LaBine.

                “Due to the multiple demand drivers in the area, this hotel continued to exhibit strong performance even through the economic downturn,” said LaBine.  “Further, Linchris’ exceptional management ability drives better than average bottom line performance throughout their entire portfolio.  Those two factors made this an attractive loan opportunity for People’s United Bank.”

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 | www.hfflp.com


HFF arranges $49 million acquisition financing for 1700 Broadway in downtown Denver, CO


                
                1700 Broadway in Denver's central business district

Mary Sullivan
DENVER, CO – HFF announced today that it has arranged $49 million in acquisition financing for 1700 Broadway, a 22-story, 394,151-square-foot office building in Denver’s central business district.

                HFF worked on behalf of the borrower, Artis HRA 1700 Broadway, LP, a 50/50 partnership between MDC Realty Advisors USA, Inc. and Artis REIT, to secure the 10-year, 3.11 percent, fixed-rate loan through Principal Real Estate Investors.

 Loan proceeds were used to acquire the property in a sale brokered by HFF’s Mary Sullivan and John Jugl.

                1700 Broadway is located on the western edge of the Uptown submarket in Denver’s central Business District. 

Josh Simon
  The property is one of Denver’s original skyscrapers; completed in 1956 and designed by world-renowned architect I.M. Pei.  Building amenities include a 12-level covered parking garage, a Starbucks and a copy center.

 Additionally, an iconic 150-foot atrium is situated adjacent the property, which includes a sundry shop, food court and a covered outdoor dining facility, which is not part of the collateral. 

The property is 96.5 percent leased to 24 tenants of which Whiting Oil and Gas Corporation is the largest, occupying nearly 173,000 square feet.

Eric Tupler
                The HFF team representing the borrower was led by director Josh Simon and senior managing director Eric Tupler.

                “This transaction is a great example of the importance of having an integrated capital markets effort to benefit and ensure a successful execution,” said HFF senior managing director Mary Sullivan, who represented the seller.

                MDC Realty Advisors USA, Inc. through its U.S. affiliated company Hannay Realty Advisors is a private commercial real estate company that focuses on asset and property management in the United States. 

  Hannay Realty Advisors currently manages approximately 12 million square feet of commercial properties and has offices in Phoenix, Denver, Los Angeles, Orange County, San Francisco, Kansas City and Las Vegas.

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 | www.hfflp.com


HFF arranges $12.5 million refinancing for Manhattan retail condo



        808 Broadway in New York city's Union Square neighborhood

NEW YORK, NY –HFF announced today that it has secured $12.5 million in financing for 808 Broadway, a 24,000-square-foot retail condominium in New York City’s Union Square neighborhood.

Steven Klein
                HFF worked on behalf of the borrower, SPI Holdings, LLC, to arrange the 10-year, fixed-rate loan through RBS. 

                808 Broadway is a block-through, multi-story retail condominium located between East 11th and East12th Streets just south of Manhattan’s Union Square.  Originally constructed in 1920, the property is fully leased on a long-term triple net lease to New York Costumes and was acquired by SPI in 2008.

                The HFF team representing the borrower was led by managing director Steven Klein.

                Klein stated that “the transaction is a reflection of the strong appetite for Manhattan retail as a result of low vacancy rates in attractive downtown markets such as Union Square.”

Union Square, New York City
SPI Holdings, LLC is a real estate and private investment company investing the capital of its principals. 

SPI currently owns and controls a portfolio of assets comprising approximately three million square feet of institutional quality real estate as well as minority interests in several private companies.  

SPI has focused primarily on the acquisition of core-plus real estate in high barrier-to-entry, major, metropolitan markets.

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 | www.hfflp.com


MJS To Operate LA’s Historic Mayfair Hotel



   Mayfair Hotel, Downtown Los Angeles, CA

Si Sloman
 PHOENIX, AZ, June 10, 2013 - - Officials with the Historic Mayfair Hotel today announced the selection of MJS Hotels, a nationally recognized owner and operator of full service hotels, to manage the 1920’s era downtown Los Angeles hotel.  The hotel will undergo a substantial renovation, as part of an overall repositioning strategy.

            The hotel was the site of the first official Academy Awards after party in 1929, and, over the years, has been featured in numerous movies and television shows including “True Lies”, and “Weeds”.  

            “Los Angeles hit a new record high for tourism in 2012, welcoming 41.4 million visitors who occupied 26.6 million hotel rooms,” said Si Sloman, managing partner of MJS.

Mayfair Hotel Dining Room
 “This growth, due in no small part to the tremendous success of the LA Live complex and the efforts of the Los Angeles Convention and Visitors Bureau,  has caused many of the industry’s most prominent brands to continue to commit substantial capital to build new hotels in the area that this hotel currently serves.

“Our team has decades of experience turning around under-performing hotels, and I am confident that with the Mayfair’s inherent assets, a great location, unique style and glamorous history,  we can quickly establish a firm foundation from which it can become the preferred choice for  people traveling to Los Angeles.       



“The Mayfair has great bones and a back story befitting its Los Angeles location,” Sloman added.  “I have no doubt that its future will be as exciting as its past.”

Mayfair Hotel lobby
Located at 1256 W. 7th St., less than a mile from L.A. Live, including the Staples Center and the Nokia Theater, the Historic Mayfair Hotel was modeled after European hotels of the 1920s and features a soaring, three-story lobby, 309 guest rooms and suites.

 The full-service hotel offers ample meeting and ballroom space to accommodate as many as 225 people, as well as a business and fitness center and complimentary WiFi.  
.
For a complete copy of the company’s news release, please contact:

Lauralee Dobbins
 (703) 435-6293


Arbor Appoints New Loan Originator in Baltimore, MD Office


Paul J. Paolisso
UNIONDALE, NY (June 10, 2013) - Arbor Commercial Mortgage, LLC (“Arbor”) today announced the appointment of Paul J. Paolisso as Director in the company’s Baltimore, MD, office.

Mr. Paolisso is responsible for originating FHA-insured multifamily, seniors housing and healthcare facility loans nationwide. He will also originate Fannie Mae loans, CMBS loans, bridge loans and mezzanine investments under Arbor’s diverse product lines.

He reports to Joseph Donovan, Senior Vice President, FHA Lending.

Prior to joining Arbor, Mr. Paolisso was a Loan Officer at Metropolitan Funding Corp, where he sourced FHA multifamily and healthcare loans nationwide and was involved in all aspects of the loan origination process, including screening, underwriting and credit analysis.

Joseph Donovan
Mr. Paolisso has more than nine years of financial experience as an analyst and loan officer and holds a Bachelor of Science degree in Finance from Georgetown University in Washington, DC.

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

Chris Ostrowski
Arbor Realty Trust, Inc.
 Tel: (516) 506-4255
333 Earle Ovington Blvd.,
 Suite 900
Uniondale, NY 11553