Thursday, August 1, 2013

Voit Real Estate Services Represents The Honest Co. in 130,562-SF Industrial Lease in Ontario, CA

1950 South Vintage Ave. warehouse, Ontario, CA

Brian McLoughlin
Ontario, CA – Voit Real Estate Services, a  leading  full-service commercial real estate provider serving the Southwestern U.S. market, announced the completion of  a 130,562 square-foot industrial lease with a total consideration of approximately $2 million on behalf of The Honest Company at 1950 S. Vintage Avenue in Ontario, Calif. The Honest Company is a leading distributor of baby products.

The Honest Company signed a 3-year lease and will move to the premises in August, occupying the entire 130,562 square-foot industrial building, which is owned by Crown Associates Realty, Inc. 

Brian McLoughlin and David Fults, Senior Vice Presidents in Voit Real Estate Services’ Los Angeles office represented the tenant in the lease negotiations. 

David Fults
“The building features, location and functional warehouse design fit the state-of-the-art distribution needs of The Honest Company,” commented McLoughlin.

“We evaluated and negotiated terms on numerous space options throughout the region and determined that 1950 S. Vintage Ave. provided the best occupancy solution to accommodate the needs of this growing company.”

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

Brian McLoughlin / David Fults
Voit Real Estate Services
323-558-5403 / 323-558-5404

Marcus & Millichap Promotes Six Northeast Agents to Vice President Investments

Gene A. Berman
CALABASAS, CA, Aug. 1, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted six Northeast-based agents to vice president investments.

Laurie Ann
Todd Tremblay
This designation exemplifies superior performance achieved by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Gene A. Berman, executive vice president and managing director.

Marco Lala
Kevin M.
The agents, their office locations and specialties are:

·         Laurie Ann Drinkwater, Boston, Retail
·         Todd Tremblay, Boston, Retail
·         Laurie Ann Drinkwater, Boston, Retail
·         Marco Lala, Manhattan, Multifamily
·         Kevin M. McCrann, New Jersey, Multifamily
·         Matthew P. Gorman, Philadelphia, Retail/Net-Leased
·         Christopher A. Munley, Philadelphia, Retail/Net-Leased

 Before being promoted, all of the agents above except for Lala held the title associate vice president investments. Previously, Lala was an associate. 

Christopher A.
Matthew P.
            “With this promotion, these commercial real estate investment specialists have earned a prestigious designation within the firm and solidified their reputations as knowledgeable and successful investment professionals,” says Berman. “Their focus on providing superior client services has earned them a high degree of loyalty and respect from investors as well as from their peers.”

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

Gina Relva
Public Relations Manager
(925) 953-1716

$37.8 Million Apartment Complex Sale in Granger, IN Arranged by Marcus & Millichap

Main Street Village Apartments, Granger, IN

GRANGER, IN, Aug. 1, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Main Street Village Apartments, a 400-unit complex located in Granger, Ind. The sales price of $37,750,000 equates to $94,375 per unit.

Scott Harris
            Scott Harris, a senior vice president investments in Marcus & Millichap’s Chicago Oak Brook office, represented the seller along with Alex Blagojevich, a vice president investments in the firm’s Tampa office, and David Gaines, a vice president investments in Marcus & Millichap’s Chicago Downtown office.  Blagojevich, Gaines, and Harris also procured the buyer.

“This asset has a long history of high occupancy and steady rental growth within the most desirable submarket of the South Bend/Mishawaka MSA,” says Harris. “With historical occupancy above 94 percent, no concessions and rising rents, Main Street Village Apartments stands as one of northern Indiana’s premier multifamily investments.”

Alex Blagojevich
The 373,145-square-foot asset is located at 5504 Town Center Drive in the town of Granger, and is approximately 90 miles east of Chicago. The property is also less than 10 minutes from the University of Notre Dame, less than one mile from the region’s most active concentration of high-end retail, restaurants, and entertainment venues, and directly across the street from the newly constructed Saint Joseph Regional Medical Center.

Built in 2001, Main Street Village Apartments offers 11 different floor plans, including 184 one-bedroom units, 188 two-bedroom apartments and 28 three-bedroom units. 
For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716

HFF closes sale of Rivergate Shopping Center in Macon, GA

Rivergate Shopping Center, Macon, GA

Richard Reid
ATLANTA, GA – HFF announced today that it has closed the sale of Rivergate Shopping Center, a 207,567-square-foot retail center in Macon, Georgia.

                HFF represented the seller, Nightingale Group, LLC in the sale of the property to Phillips Edison-ARC Shopping Center REIT Inc.

Rivergate Shopping Center is located at the Interstate 75 and Tom Hill Sr. Boulevard interchange along the Interstate 75/North Macon retail corridor.  Renovated most recently in 2012, the center is 84 percent leased and anchored by Publix, Planet Fitness and Dollar Tree. 

Jim Hamilton
The center also includes several outbuildings and outparcels, which are 100 percent leased to tenants such as Batteries Plus, Buffalo Wild Wings, Dunkin Donuts, IHOP, Panera Bread Starbucks and Subway.

                The HFF team representing the seller was led by managing directors Richard Reid and Jim Hamilton.

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 |

Berger Commercial Realty Announces Three New Lease Transactions Totaling More Than 30,000 SF in Fort Lauderdale, FL

Keith Graves
FORT LAUDERDALE, FL (Aug. 1, 2013) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced three new lease transactions from brokers Keith Graves, St. George Guardabassi and Greg Milopolous.

St. George
 Property Address: 3390 S.W. 13th Avenue, Fort Lauderdale, FL 33315
Landlord: Schaefer Industrial Park, represented Keith Graves and St. George Guardabassi. Tenant: ARC Broward.Type: Industrial space. Transaction: New lease. Square Footage: 25,704

Property Address: 105 N.E. 3rd Street, Fort Lauderdale, FL 33301
Landlord: 105 NE 3rd Street, LLC. Tenant: City of Fort Lauderdale, represented by St. George Guardabassi. Type: Office space. Transaction: New lease
Square Footage: 2,100

Greg Milopoulos
Property Address: 5440 N.W. 33rd Avenue, Fort Lauderdale, FL 33309
Landlord: Commerce Center Development Corp. Tenant: Direct Source, Inc., represented by Greg Milopoulos. Type: Warehouse. Transaction: Lease renewal
Square Footage: 3,029

For a complete copy of the company’s news release, please contact:
Marielle Sologuren, ext. 226
Jane Grant, ext. 224

Todd Jones Joins Cushman & Wakefield’s Property Tax Services Group

Todd Jones
TAMPA, FL – Aug. 1, 2013 – Cushman & Wakefield today announced Todd Jones has joined the firm as Managing Director and Southeast Practice Leader for Property Tax Services supporting the company’s Valuation & Advisory group.

Based in Tampa, Mr. Jones will focus on developing, growing, and sustaining the Southeast property tax practice. He will support the group’s objectives nationally and internationally while overseeing the delivery platform for clients in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee.

Larry Richey
“We are delighted to welcome Todd to Cushman & Wakefield,” said Larry Richey, Sr. Managing Director and Market Leader for Central and North Florida.

 “He is among the top echelon of property tax professionals in the area and his  presence  on our team reflects our continued commitment to bolster our delivery platform for clients in the Southeast, enabling them to make the most informed real estate decisions.”

 Prior to joining Cushman & Wakefield, Mr. Jones was a Principal with RealAdvice. His previous professional roles include Executive Managing Director of Property Tax Services at Colliers International and Senior Manager with Thomson Reuters, the legacy Deloitte property tax services team now owned by Ryan.

As President of the Florida Association of Tax Professionals, Mr. Jones’ regularly addresses the Florida Cabinet, Legislature and various state agencies on property tax policy and issues facing taxpayers. In 2011, he served on the Florida Governor’s Tangible Personal Property Taskforce and in 2012, the Florida legislature sought his counsel on comprehensive property tax reform legislation.

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

Martin Nee

Trepp US CMBS Delinquency Rate Falls Once Again; Rate at Lowest Level Since September 2010

 (NEW YORK, NY – Aug. 1, 2013 - Trepp, LLC, the leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets, released its July 2013 U.S. CMBS Delinquency Report today (available at

One year ago, the Trepp CMBS delinquency rate reached an all-time high of 10.34%. This month, the delinquency rate for US commercial real estate loans in CMBS dropped to 8.48%. This represents a 17-basis-point drop since June’s reading and a 123-basis-point improvement since the start of 2013. The July 2013 level is the lowest Trepp delinquency rate since September 2010.

July’s rate decrease was the third time in the last four months that the Trepp CMBS delinquency rate fell. Only a four-basis-point increase in May interrupted the recent gains seen for delinquencies.

This fairly consistent improvement can be largely attributed to high levels of CMBS loan resolutions. July had $2.05 billion in loans resolved—up significantly from $1.25 billion in June and $858 million in May. 

Also contributing to fewer delinquencies were $1.08 billion of loans that were cured during the month of July. However, July saw $2.39 billion in newly delinquent loans, which measured almost twice the total posted in June.

Among the major property types, office and multifamily loans saw big improvements, each with over 40-basis-point declines. The remaining property types saw negligible movements in their rate. Retail is the best preforming major property type, while industrial is the worst.

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

Great Ink Communications
Eric Gerard, Lindsay Church

Some Long-Term Lenders Now Quoting Shorter Terms

Chicago, IL, Aug. 1, 2013 - Another month of "Fed watching" that has
now become America's favorite spectator sport.  The capital markets try to
guess how the balance of Fed monetary policy weighs in for driving interest
rates and economic growth.  And watchers have not been disappointed with the
action.  After Independence Day, rates jumped up by 15 basis points as
investors nervously reacted to Fed comments about maintaining low interest

Jeanne Peck
However, the dust settled with rates landing near the same levels of
June.  Some lenders refrained from quoting deals for a few weeks; they are
back in the market, some quoting shorter terms (5-7 years) where they had
been quoting longer term before.  Bridge lenders and banks enjoyed increased
attention given their LIBOR-based programs remained unaffected but the
Treasury volatility. 

As for longer-term trends, lenders (especially agencies) are modestly
widening mortgage spreads in anticipation of higher rates given three
consecutive months of rising rates.  Today mortgage rates are about five to
ten basis points higher. 

 Lenders quote longer-term loans at 180 basis
points over comparable term treasuries for 10 year deals and well over 200
basis points for high leverage debt.  Meanwhile, conduits are tightening
pricing due to increased competition on Wall Street, the banks and life
companies, in general.  Furthermore, investors are snapping up fresh CMBS
bonds, creating more optimism for this sector. 

In the aftermath of rising rates, debt service coverage is the de facto underwriting metric for loan sizing.  Other criteria, namely loan-to-value, are less applicable with property value decreases not directly matching higher mortgage rates.  Coverage of 125% is the standard for most loans with 101% offered for credit deals and 140% or more for lodging assets.  Should mortgage rates remain at current levels for a sustained period of time expect values to adjust downward with LTV ratios returning to prominence.

According to Jeanne Peck of the Real Estate Capital Institute, "Sudden rate jolt fears have quelled, but everyone seems to be worrying about rising interest rates, particularly for 2014 and beyond."  She adds, "It's not a matter of rising rates, it's a matter of when rates will rise."

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  Furthermore, call the Real Estate Capital RateLine at
7RE-CAPITAL (773-227-4825) for hourly rate updates. 

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

 Jeanne Peck
Executive Director
The   Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624

Plaza Advisors Announces Sale of College Station Retail Center in Clermont, FL

       College Station Retail Center, Clermont, FL

TAMPA, FL -- Plaza Advisors is pleased to announce the $11.5 million sale of the College Station Retail Center located in Clermont (Orlando MSA) Florida.

Jim Michalak
The center contains a total of 65,460 square feet of gross leasable area and includes numerous national; anchor, inline and outparcel tenants including: Office Depot, Petco, Starbucks, Chick-fil-A, BB&T, Steak ‘n Shake, Subway and Chili’s.

 College Station is situated on an 18.2 acre master ground leased parcel and was constructed in phases from 2005 to 2009. The asset was 100% leased at the time of sale. A 1.96 +/- acre expansion parcel was included in the sale. Traffic counts averaged nearly 53,000 vehicles per day.

 Jim Michalak represented the seller in the transaction. The seller and buyer were REDUS Florida Commercial, LLC and Clermont College Station, LLC a private equity firm, respectively. 

“Clermont’s anchored retail center occupancy rate is 97.3% and is indicative of the strength of trade area” states Michalak. “The transaction opportunity presented several hurdles including the master ground lease and an over-sized Office Depot store.

“However the strength of the location, credit tenancy and the future development component were attractive aspects for investors that submitted bids on the project”.

 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 130 shopping center transactions, with a combined GLA exceeding 13 million square feet with an aggregate sales volume in excess of $1.5 billion.

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

Jim Michalak
Managing Partner
Plaza Advisors

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