Tuesday, December 10, 2013

Eileen Conn, Regional VP of Charles Dunn Real Estate Services, Inc., Awarded Certified Property Manager of the Year Award by IREM LA

Eileen Conn and Charles Brown, president, IREM Los Angeles Chapter

LOS ANGELES, CA,  Dec. 10, 2013 – Eileen Conn, regional vice president of Charles Dunn Real Estate Services, Inc., has been awarded the Certified Property Manager® of the Year award by the Los Angeles Chapter of the Institute of Real Estate Management (IREM).

The CPM of the Year award is presented by IREM to recognize members who have provided outstanding service to their profession and community throughout the year.

Conn, a Certified Property Manager® with more than 13 years of property management experience, joined Charles Dunn Real Estate Services, Inc. in 1997.

As regional vice president, she is responsible for all aspects of the day-to-day management of a 14 million-square-foot portfolio of office, retail, industrial, and multifamily properties primarily in the greater Los Angeles region.

To be considered for the award, the CPM member must be an active professional in their region, distinguish themselves by making significant contributions to the field of property management, serve as active members within the local chapter, and participate in local community and business affairs. 

“Eileen is truly deserving of this award as she demonstrates excellence in contributing to the advancement of real estate management as a profession. She has also been a dedicated and proactive IREM member through participation in our events and initiatives,” said Charles Brown, CPM®, RPA®, FMA®, and the 2013 President of the IREM Los Angeles Chapter.

Brown added that the Los Angeles chapter of IREM has more than 500 members and is one of the largest and earliest chapters established.

A member of IREM LA for five years, Conn currently serves as IREM’s vice president of membership where she introduces all new CPMs and organizes Friends of IREM, a program designed to attract vendors with a proven track record of quality and service who have been recommended for participation by Los Angeles chapter members.

She is also is on the Forecast Committee, and has been heavily involved in organizing and attending IREM’s events throughout the year.

Conn is a graduate from Gonzaga University with a B.A. in Philosophy. She holds a California Real Estate License, is an active member of the International Council of Shopping Centers and is a Real Property Administrator (RPA®), Facilities Management Administrator (FMA®) and a Certified Property Manager (CPM®).

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

Darcie Giacchetto
D.G. Communications, Inc.

Faris Lee Investments Completes $3.28 Million Sale of Retail Property Occupied by O’Reilly Auto Parts in Riverside, CA

O'Reilly Auto Parts, 1691 University Avenue, Riverside, CA

Shaun Riley
IRVINE, CA,  Dec. 10, 2013 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $3,285,000 sale of an 11,814-square-foot, single-tenant retail property occupied by O’Reilly Auto Parts located at 1691 University Ave. in Riverside, Calif.

 The property was sold at a cap rate of 5.5 percent, representing one of the lowest cap rates paid in the country for a single-tenant auto supply store. 

 Shaun Riley, senior managing director of Faris Lee Investments, represented the seller, Ximeno Associates LLC from Newport Beach. The all-cash buyer, Riverosity LLC from Los Angeles, was represented by Marc Pollock and Mark Einbund of Westside Retail.

Marc Pollock
 “With well-located, corporate-backed single-tenant offerings  in Southern California in short supply, Faris Lee marketed this property as a unique opportunity to acquire a highly sought after real estate investment where the tenant has been successfully operating since 1995, and has ten years remaining on its current lease,” said Riley.

“The demand for this caliber of property was evidenced by the high amount of investor interest as well as the low closing cap rate.” 

 Built in 1965 with a complete building rehabilitation in 1995, O’Reilly Auto Parts is situated on .74 acres on the corner of University Ave. and Chicago Ave. between downtown Riverside and University of California at Riverside.

Mark Einbund
 The asset is also between the 215 and 91 freeways which have a combined traffic count of more than 336,000 cars per day.

The property is within a strong retail corridor with nearby national tenants including Food 4 Less, Dollar Tree, Walgreens, and Rite Aid.

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

Darcie Giacchetto
Spaulding Thompson & Associates

Jones Lang LaSalle says investors show continued confidence in Southwest Phoenix submarket

7200 West Buckeye Road, Southwest Phoenix, AZ

Mark Detmer
PHOENIX,  AZ, Dec. 10, 2013 – Phoenix industrial absorption rates may have hiccupped mid year, but investors are not deterred, as illustrated by the sale of 7200 West Buckeye Road in Southwest Phoenix.

Jones Lang LaSalle’s Capital Markets experts facilitated the sale on behalf of the owner this week. 7200 West Buckeye Road Industrial Investors, LLC purchased the 400,000-square-foot industrial property for $26.25 million.

Jones Lang LaSalle (JLL) Managing Directors Mark Detmer and Bo Mills represented both the buyer and the seller.

Located on Buckeye Road within minutes of Interstate 10, 7200 Buckeye Road is 100 percent leased through 2017 to national credit tenant, Home Depot U.S.A., Inc.

The building was built in 2009 and includes state-of-the-art features such as 32’ clear height, ESFR sprinklers, cross dock loading, concrete truck courts and trailer storage.

Bo Mills
“This industrial project competes toe-to-toe with the best assets in the Valley,” said Detmer. “As our industrial market continues to strengthen, this property—like so many others in Phoenix—will deliver on its upside potential through rent growth, tenant retention and steadily rising values.”

According to JLL research, industrial vacancy levels in Southwest Phoenix are almost 10 percent lower than they were two years ago, with more than 10 million square feet of requirements still actively touring the market for space. 

As of September, the firm’s quarterly Phoenix Industrial Market Report shows the Southwest Phoenix warehouse/distribution inventory at 15.6 percent total vacancy and average total asking rents of $0.92 per-square-foot. 

This compares to an overall Valley warehouse/distribution vacancy rate of 12.7 percent and average asking rents of $0.43 per-square-foot.

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

Stacey Hershauer

CHM Announces Asset Management Contracts For Three, Focused-Service Hotels

104-room Hampton Inn & Suites Fort Lauderdale-Airport, Fort Lauderdale, FL

BEVERLY, MA,  Dec. 10, 2013—Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm, today announced that it has been retained to provide asset management services for three, focused-service hotels located in Florida:

1.     the 104-room Hampton Inn & Suites Ft. Lauderdale-Airport,
2.     the 127-room Hampton Inn Miami-Airport West and
3.     the 122-room Hilton Garden Inn Orlando East/UCF Area.

127-room Hampton Inn Miami-Airport West
 The first two hotels are owned by The Lightstone Group, and the latter is owned by AVP Advisors, Inc.

“While CHM historically has been known for its expertise in the full-service segment, we also have an extensive background in focused-service hotels, ranging from sourcing transactions to developing the most effective strategies for enhancing value,” noted Chad Crandell, president of CHM.

“Much of the upside we are able to uncover in today’s market comes from revenue management, operator selection, managing brand expenses and ensuring PIPs (capital improvements) yield a return.

122-room Hilton Garden Inn Orlando East/UCF Area
“For these particular hotels, CHM participated in the due diligence and underwriting efforts on behalf of both ownership groups. 

“We reviewed the assets, assessed the markets, established optimal strategies and now are overseeing operations to help ensure investment returns are met. 

“CHM’s current asset management portfolio is comprised of approximately 30 individual hotels, of which seven fall into the focused-service asset category.

“We expect this number to double over the next 12 to 18 months as investors continue to flock to this product and seek expertise to maximize profit potential and investment returns.”

Chad Crandell
Conveniently located at Fort Lauderdale/Hollywood International Airport (FLL), the Hampton Inn & Suites Ft. Lauderdale-Airport has been awarded a TripAdvisor Certificate of Excellence Award for the past two years.  

Hotel amenities include a full-service business center, meeting room, fitness room, outdoor pool and complimentary breakfast bar. 

Minutes from Miami International Airport and the Dolphin Mall, a large and exciting shopping and entertainment outlet in Miami, the Hampton Inn Miami-Airport West is situated near downtown Miami and the beach. 

  In addition to complimentary shuttle service to and from Miami International airport, the hotel also provides 896 square feet of meeting/events space for up to 50 guests, a fitness center and free, daily breakfast.

Miami International Airport
“CHM was instrumental in the due diligence and closing of these two hotels, working closely with both us and our management team while transitioning the properties,” said Marc Dober, vice president, asset management, hospitality of The Lightstone Group.

 “The company has been an invaluable liaison between The Lightstone Group and the brands, making the process that much more manageable for all parties involved.”
For a complete copy of the company’s news release, please contact:

Jerry Daly
(703) 435-6293

Chris Daly
Daly Gray, Inc.
Ph: 703-435-6293
Cell: 703-864-5553

(978) 522-7000.

HFF closes $9.875 million sale of Publix-anchored center in Fort Myers, FL

Alico Commons, Alico Road and Tamiami Trail (US 41), Fort Myers, FL

Danny Finkle
MIAMI, FL – HFF announced today that it has closed the $9.875 million sale of Alico Commons, a 97,663-square-foot Publix-anchored center in Fort Myers, Florida.

               HFF marketed the properties on behalf of Endeavor Real Estate Group (“Endeavor”). The PMAT Companies purchased the asset for $9.875 million free and clear of existing debt. 

Built in 2009, Alico Commons is situated on a 12.04-acre site at the intersection of Alico Road and Tamiami Trail (US Highway 41).  The center is 53.5 percent leased and is anchored by a 45,600-square-foot Publix.

               The HFF team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo.

“This asset provided investors an opportunity to acquire a recently built, high volume, Publix-anchored center with substantial value enhancement possibilities through lease-up and outparcel development in an ascending local market,” said Finkle.

Luis Castillo
HFF has capitalized more than $4.3 billion in retail assets nationally through third quarter 2013.  The HFF Florida team has capitalized more than $476 million in retail transactions during this time.

Austin-based and privately owned, Endeavor is focused on the acquisition and development of retail, office, industrial and multifamily/mixed-use properties.  Founded in 1999, the company provides a services including property management, tenant representation and leasing. 

The PMAT Companies is a real estate development firm focused on value-add grocery anchored shopping centers across the Southeast, Sunbelt and Mid-Atlantic Regions. 

  Since its founding in 2003, the PMAT Companies have acquired and successfully renovated 20 anchored shopping centers with an aggregate market value of nearly $500 million dollars consisting of approximately 2.5 million square feet. 

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

Marcus & Millichap Awarded Exclusive Listing to Sell Majestic Golf Club in Lehigh Acres, FL

Majestic Golf Club & Development Opportunity, Lehigh Acres, FL

Steven Ekovich
TAMPA, FL,  Dec. 10, 2013 -- National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been retained to exclusively market for sale the Majestic Golf Club & Development Opportunity, according to Steven Ekovich, Managing Director of the National Golf & Resort Properties Group.

 Terence Vanek, Associate and lead agent on the deal, is the listing broker for this privately owned golf opportunity. 

Priced at $1,200,000, and located off of Interstate 75 along the southwest coast of Florida, the Majestic Golf Club & Development Opportunity is a semi-private golf club with a strong local reputation servicing the approx. 90,000 people living within Lehigh Acres.

Terence Vanek
The Club is well-located in the heart of Lehigh’s main population center, with great regional access via it’s frontage along one of the primary central corridors Homestead Road.

It offers membership opportunities that include access to highly desirable banquet, pool & fitness amenities, as well as an 18-hole golf course newly outfitted with brand new green complexes that boast Florida’s most popular new grass - “Sunday” Ultra-dwarf Bermuda.

Finally, the Club’s front 21 acres offer long-term upside by way of a flexible, “dual-use” commercial zoning classification that allows ownership a development order to create a mixed-use community center.

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

Terence Vanek, Lead Agent and
Associate, Investment Advisor
National Golf and Resort Properties Group
(813) 387-4809

SQR-Code Launches new technology with Miami Realtors In Mind; Introducing Next-Generation Smart QR Codes for Business

Miami, FL, Dec. 10, 2013 – Fueled by the momentum of South Florida’s housing boom, Miami based technology company, Smart QR Solutions, is launching an innovative, next-generation QR Code proving to be extremely useful for real estate agents.

 For those not familiar with QR (Quick Response) code technology, QR Code is simply a code bar printed on paper, that when scanned with a mobile device, takes consumers to a online content page.

However, unlike standard QR codes which link to a single site or landing page, Smart-QR codes can be changed and can be linked to multiple mini sites and programmed to hundreds of various online content pages.

This is extremely useful for real estate agents with multiple listing and consistently changing inventory. Mobile optimized mini sites also help agents reach potential buyers on the go.

 Smart-QR codes enable realtors to link their clients to real-time property listings without needing to change the actual printed code.

Additionally, having the functionality to create multiple mini sites is ideal to showcase property details and virtual tours for all of your listings rather than only one.

Eliminating the need to design and print multiple codes is also cost effective—streamlining marketing collateral and promotional efforts.

 The user-friendly interface and advanced analytics reporting is another selling point for agents.  Dynamic tracking technology built into the data and analytics programming, Smart-QR provides invaluable information related to promotional effectiveness, marketing ROI and consumer demographics.

“Understanding who, where and how your target market engages with your content is something anyone with a marketing budget and consumer business wants to know,” says Smart QR Solutions CEO, Janos Nemeth.

“Having the information to understand who is really engaging with your brand, where and how they can be reached it is priceless information.”

 Just like with Facebook, Twitter, Blogging, Mobile, Video and any other buzz worthy platform of new technology, those who adapt it quickly will pick up market share. Right now that technology is Smart-QR Codes.

 For more information on Smart Code Solutions and its technology, please visit www.sqrcode.com.

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

Rachel S. Pellman
Design Your Startup

HC Real Estate Capital Arranges $5,050,000 in Acquisition Financing for Multi-Family Community In Satellite Beach, FL

Shore View Apartments, 50 Berkeley Street
 Satellite Beach, FL

Satellite Beach, FL, Dec. 10, 2013 -- Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $5,050,000 in acquisition financing for Shore View Apartments located at 50 Berkeley Street Satellite Beach, FL. 

HC Real Estate Capital worked exclusively with the borrower to obtain a 5-year fixed-rate loan through a regional bank.

Shore View is a 155-unit apartment complex that was originally built in 1964 and is situated on 8.5 Acres of land that sits across the street from the Atlantic Ocean. 

The community is comprised of five residential buildings with individual units that are made up of 19 studio units, 65 one-bedroom/one bathroom units, 70 two-bedroom/one bathroom units and a three-bedroom/two bathroom unit. 

The community offers numerous amenities including a state of the art fitness center, several BBQ/picnic areas, Olympic size swimming pool, basketball court and a clubhouse. 

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

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176