Wednesday, July 24, 2013

Snyder Langston Promotes Andy Gerlach, P.E. as Technical Services Manager

Andy Gerlach

IRVINE, CA  (July 24, 2013)— Snyder Langston, one of Southern California’s largest and most respected builders, has promoted Andy Gerlach as Technical Services Manager.

 In his new role, Gerlach is responsible for overseeing the use and implementation of technology at Snyder Langston with the aim of streamlining processes and increasing communication with the firm’s clients, trade partners and design colleagues.

“My major focus lies within our preconstruction and estimating department, where we are using Virtual Design and Construction software to carry on Snyder Langston’s tradition as a Trusted Advisor with our clients,” says Gerlach. “This position provides me with the opportunity to provide more innovative solutions and improve operations for the firm.”

Steve Jones
Gerlach has been with Snyder Langston for six years and previously served as Senior Project Engineer, where he worked on high-profile projects including Bella Riviera in Santa Barbara, a development of 115 workforce and market rate housing units for Cottage Health System, and Pelican Hill Hotel at the Newport Coast Resort in Newport Coast, California.

“It’s especially rewarding to elevate individuals from within our organization who demonstrate an expertise that can help to benefit our clients. Andy has proven adept at leveraging new technology to support both our work here at Snyder Langston and for our clients,” said Steve Jones, Chairman/CEO, Snyder Langston.

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

Darcie Giacchetto
Spaulding Thompson & Associates

NAI Realvest Negotiates Retail Lease Agreement with Dollar Tree at Market Square in Casselberry; Boosts occupancy to 100 Percent

Mitch Heidrich
MAITLAND, Fla. NAI Realvest recently negotiated a new lease agreement for 13,436 square feet of retail space at Market Square Shopping Center, 1442 SR 436 at the intersection of Howell Branch Rd. in Casselberry.

NAI Realvest Associate Mitch Heidrich assisted by Principals Kevin O’Connor and Matt Cichocki negotiated the transaction representing the landlord, Herbert Kunstadt of New York.

The new tenant Dollar Tree Stores, Inc. of Chesapeake, Va. leased Unit C, the space in between Harbor Freight Tools and Big Lots at Market Square Shopping Center, and is scheduled to open by the end of July.  

Joanna Robinson
 The tenant was represented by Marc Sullivan and Joanna Robinson of The Shopping Center Group. 

The new lease boosts Market Square Shopping Center occupancy to 100 percent.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Office Market Continues to Heat Up


ATLANTA, GA– As the temperatures outside begin to heat up, so does the U.S. office market sector. With an uptick in employment, rent growth and some construction on the horizon, the office market is showing signs of improvement.

Michael Bull
 That was the consensus of a panel of experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty.

 “Office employment growth grew at a 3.2 percent pace in the first half of the year,” says Walter Page, director of research at CoStar Group. Eight metropolitan areas - Atlanta; Boston; Chicago; Denver; New York; Orange County, Calif.; San Francisco; and San Jose, Calif. - have each experienced at least 1 million square feet of positive net absorption of office space so far this year, he added.

David Tennery
 The uptick in absorption paired with only 5 million square feet of completed office space in the first half of the year has caused vacancy rates in many markets to decline to 12.1 percent or less, Page said.

 The improvement in occupancy is beginning to generate an increase in rents. Gross asking rents are up 2 percent on a year-over-year basis in most markets. As rent growth continues, it will drive construction, Page said. By 2016, Page predicts 3 to 4 percent annual rent growth.

Walter Page
David Tennery, principal of office properties and development at Regent Partners, added that the increased demand for office space hasn’t come from just one type of office user. “It’s no longer just technology or professional services, but a very broad reach in terms of sector growth,” he said.

 While most signs point to recovery, concerns about the possibility of rising interest rates and the reduction in space usage by some office tenants mean this sector isn’t out of the woods quite yet.

“We have seen a 20 percent reduction in space usage with a typical tenant during the last 10 years, and we’re expecting a 1 percent decline in space usage per employee going forward, so that’s an issue,” Page said.

Sean O’Reilly of Ernst & Young added that in suburban settings, tenants are dropping from 250 square feet of space per employee to about 200 square feet. In urban settings, 150 square feet of space per employee is the norm, but some firms in intown areas have dropped that figure to 75 square feet, O’Reilly said.

 All of the panelists expressed concern about a potential rise in interest rates. O’Reilly said that if interest rates go too high, it can snuff out the recovery. “Investors are just looking for a stable environment at this point, and hopefully we have that,” he added.

 The entire office market episode is available for download at The next “Commercial Real Estate Show” will be available on July 25 and will feature an update on the U.S. retail market.

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

Stephen Ursery
The Wilbert Group

NAI Realvest negotiates Lease Agreement for another Once Upon a Child store in Waterford Lakes area of Central Florida

2504 South Alafaya Trail, Orlando, FL

MAITLAND, FL – NAI Realvest recently negotiated a long-term lease agreement for 4,200 square feet at 2504 Alafaya Trail near Waterford Lakes in Orlando.  

Mez Birdie
 Mez Birdie, CCIM, director of retail services at NAI Realvest, negotiated the transaction on behalf of the tenant, Waterford Kids Clothes LLC.   

 Birdie said with this lease altogether he has closed seven leases for Winmark Corporation, parent company of Once Upon a Child.

 The local landlord is Spoudaza 12, LLC represented by Davey Brown of Bishop Beale.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142               

Catherine Black Joins Benjamin West as Vice President of Business Development

Catherine Black
BOULDER, CO, July 24, 2013—Officials of Benjamin West, the hotel industry’s leading global purchasing firm for furniture, fixtures and equipment (FF&E) and operating supplies and equipment (OS&E), today announced that Catherine Black has joined the company as vice president of business development.

 In her new role, she will be responsible for further expanding the international firm’s hospitality client base.

“In her nearly 25 years of professional experience with some of the top hospitality, casino and restaurant companies in the world, Catherine has amassed a proven track record in business development, client relationships, sales and marketing,” said Alan Benjamin, president of Benjamin West.

Alan Benjamin
Prior to joining Benjamin West, Black was director of business development – hospitality for Shawmut Design & Construction, where she helped establish a stronger presence for the company on the West Coast while also handling business opportunities throughout the U.S., including playing a key role in the successful bid to provide GC services to the Palace Hotel in New York.

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

Jerry Daly or Chris Daly, media
(703) 435-6293