Friday, February 28, 2014

FrontDoor Communities Breaks Ground on Two Atlanta Area Communities


Eric White
ATLANTA, GA (Feb. 28, 2014) – FrontDoor Communities has broken ground on two new projects in the Atlanta metro area – Providence, located in Roswell, and CopperLeaf, in West Cobb. 

These projects further expand the Georgia presence for FrontDoor, which now has three communities in the region.

“We are very proud to offer these communities in the metro Atlanta market that emphasize our top priority of building better homes through quality design,” said Eric White, division vice president of FrontDoor Communities. 

“Both projects will reflect FrontDoor’s signature architectural style by incorporating unique, local design elements.”

Phase II of Providence is located in the heart of the popular Historic Roswell area. Anticipation is high for Phase II, which will include 13 townhomes and three single-family homes. Even before breaking ground, the waiting list for potential homebuyers is extensive. Home prices will be released in April and are anticipated to begin in the low $600,000’s.

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

Michael Phillips                                                                                                                     
404.996.0828

Annaly Capital Management, Inc. Reports 4th Quarter 2013 Results


NEW YORK, NY--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) announced financial results for the quarter ended December 31, 2013.

Highlights include:

  • GAAP net income of $1.0 billion, $1.07 earnings per common share
  • Core earnings of $350.1 million, $0.35 earnings per common share
  • Strong capital position with capital ratio of 15.1%, net capital ratio of 15.9%, and leverage of 5.0:1
  • Commercial investment portfolio doubled since CXS acquisition, now representing 14% of stockholders’ equity
  • Book value of $12.13

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

Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly

Cohen Commercial Realty Brokers Six New Retail Leases in South Florida



Jupiter West Plaza Shopping Center, Jupiter, FL
 Anthony’s Barber Shop Leases 800 SF at Jupiter, FL West Plaza

Jupiter, FL— Bryan S. Cohen, and Allan Carlisle of Cohen Commercial Realty, Inc., announced  the signing of Anthony’s Barber Shop, to lease a 880-square-foot bay at Jupiter West Plaza located on the northwest corner of Indiantown Road and Central Boulevard. Cohen Commercial Realty, Inc., represents the landlord, Precise Property.

Hallandale Beach Shopping Center, Hallandale Beach, FL

Etna Designer Takes 1,000 SF at Hallandale, FL Shopping Center


Hallandale Beach, FL — Bryan S. Cohen and Jason Guralnick of Cohen Commercial Realty, Inc., announced the signing of Etna Designer, to lease a 1,000-square-foot space at Hallandale Shopping Center located on the SE corner of Hallandale Beach and SE 16th Street in Hallandale, FL.  Cohen Commercial Realty, Inc., represents the Landlord in this transaction.


Gardens Family Chiropractic Opens 1,440-SF  Office at Mirasol Walk Shopping Center in Palm Beach Gardens, FL

Bryan S. Cohen
Palm Beach Gardens, FL— Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc., announced the signing of Gardens Family Chiropractic, to lease a 1,440-square-foot bay at Mirasol Walk Shopping Center located on PGA Boulevard just west of the entrance/exit of Florida’s Turnpike. Cohen Commercial Realty, Inc., represents the landlord.

Get In Shape For Women Jogs Into 1,782 SF of Office Space in Boca Raton, FL

Boca Raton, FL  — Bryan S. Cohen, and Jason Guralnick of Cohen Commercial Realty, Inc., announced the signing of Get In Shape For Women, to lease a 1,782-square-foot space at Boardwalk at 18th Street located on the NE corner of 18th Street and Powerline Road. Cohen Commercial Realty, Inc., represents the Tenant in this transaction.


Main Street Children’s Dentistry and Orthodontics Closes Contract on 2,758 SF in Plantation, FL

Plantation, FL— Bryan S. Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of Main Street Children’s Dentistry and Orthodontics, to lease a 2,758-square-foot space at Plantation Marketplace located on the northwest corner of Broward Boulevard and NW 70th Avenue. Cohen Commercial Realty, Inc., represents the Landlord, Equity One, in this transaction.

Plantation Marketplace, Plantation, FL

Pizza Corner Eats Up 1,475 SF of Retail Space in Greenacres, FL


Greenacres, FL  — Bryan S. Cohen and Jason Guralnick of Cohen Commercial Realty, Inc., announced the signing of Pizza Corner, to lease a 1,475-square-foot space at 3751 South Military Trail in Greenacres, Florida. Cohen Commercial Realty, Inc., represents the landlord in this transaction.





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



Thursday, February 27, 2014

NAI Realvest Orlando Enjoying Busy First Quarter in Closed Deals


Crystal Anderson
Oceans Luxury Realty Finds Big Niche in Property Management

Daytona Beach Shores, Fla. – Oceans Luxury Realty, which acquired Exit Realty of Daytona Beach Shores in December, has found a growing niche in property management.

Crystal Anderson, president and chief executive officer said Oceans Luxury Realty, has earned 15 new property management assignments since December and the firm is now generating more than $100,000 per week in revenues.

Oceans Luxury Realty’s property management division specializes in luxury vacation rentals, Anderson said.

Stephanie Weaver, as manager of the firm’s property management division with leasing specialists Anthony Williams, Mark Meller and Anderson, plans to expand the division with more leasing agents.


Chris Butera
NAI Realvest Negotiates Sale of 19,800+ Square Foot Office Building for $1.95 Million on U.S. 1 in Bunnell, FL
  
Bunnell, FL-- NAI Realvest, based in Orlando, recently negotiated the sale of the 19,873 square foot office building located at 3235 N. State St. (U.S. 1) in Bunnell for $1,950,000.00.     

Chris Butera, investment associate at NAI Realvest, brokered the transaction representing the local seller, Austin RE Holdco LLC.       

Orefield, Pa.-based GCG Properties was the buyer of the building which is 100 percent triple net leased by a single tenant for its corporate office headquarters.

NAI Realvest Negotiates New Lease in downtown Daytona BeachFL for Bayshore Capital, Canadian Hotel and Condo Developer
  
DAYTONA BEACH, FL. --- NAI Realvest recently negotiated a new lease agreement for 1,500 square feet of retail space at 226 S. Beach St. in downtown Daytona Beach. Chris Butera, investment associate at NAI Realvest, brokered the transaction representing the tenant, Bayshore Capital a Canadian-based firm who finances hotels and condominiums in the Daytona Beach area. The landlord is 220-226 So. Beach, LLC of Ormond Beach.


NAI Realvest Negotiates Three Industrial Leases totaling over 7,300 square feet at Oviedo Commerce Center  in Oviedo, FL

George Viele
ORLANDO, FL – NAI Realvest recently negotiated three lease agreements for new and extended industrial space totaling 7,360 square feet at the Oviedo Commerce Center in Oviedo.

George Viele, associate at the firm, brokered all three transactions representing the landlord, Oviedo Commerce Center, LLC based in Altamonte Springs.

Integrated Premise Technologies, Inc. leased Suite 1032 at 2464 W. SR 426 with 3,200 square feet of small bay / flex space; 

Existing tenant Honest Print & Design, LLC at 2462 W. SR 426 extended their lease and moved to suite 1036, a larger space with 2,560 square feet; 

 Juan C. Gavilanes of Oviedo, a new tenant, leased suite 1022 with 1,600 square feet of small bay warehouse space in the 2464 building at the center.  




Ruffin Rhodes
Rhodes+Brito Architects Awarded Contract to Design Two New Elementary Schools in Apopka, FL

ORLANDO, FL --- Rhodes+Brito Architects based in Orlando recently were awarded contracts from Orange County Schools to design new facilities for two elementary schools in Apopka.

Ruffin Rhodes, co-founder and partner at Rhodes+Brito, said the firm will design $13 million worth of new facilities to replace Clay Springs Elementary School, which accommodates 830 students.

Under terms of the second contract, Rhodes+Brito will design $12 million worth of new facilities to replace Lovell Elementary School. Rhodes said both schools will be completed in 2015. Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including eight registered architects. The firm has exceptional experience providing architectural services to municipal government agencies.


Hold-Thyssen Real Estate Services Adds Property Management Assignments Totaling 250,000 Square Feet in Florida

R. Anthony Fisher
Winter Park, FL --- Hold-Thyssen Real Estate Services, a commercial property firm based in Winter Park with offices in Tampa and Nashville, added more than 250,000 square feet of commercial properties to its Florida property management portfolio over the past 60 days.

R. Anthony Fisher, vice president of Hold-Thyssen Real Estate Services, said the firm manages more than three million square feet of commercial space.

Fisher said the new assignments include 46,000 square feet of space in Winter Haven, 25,000 square feet in Sunrise, 21,500 in Vero Beach, 47,000 in Jupiter and 110,000 square feet in Plantation.

All of the most recent assignments are REO bank-owned properties or properties in receivership, Fisher said.

Hold-Thyssen provides commercial property and leasing and management services to institutional and private investor clients nationwide. The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.


Hold-Thyssen negotiates three lease agreements totaling more than 9,000 square feet in Orlando

WINTER PARK, FL--- Hold-Thyssen Real Estate Services, a commercial property firm based in Winter Park with offices in Tampa and Nashville, recently negotiated three lease agreements totaling 9,139 square feet in Orlando.

Troy Stevens, leasing agent at Hold-Thyssen negotiated the three transactions, representing the Landlord for each facility – Miami-based LNR Partners, LLC.

Groupware, a local IT services firm renewed its lease of 7,500 square feet in Kennedy Commerce Center, a flex warehouse facility at 995 W. Kennedy Blvd. off  S. Keller Rd. 
  
Southeast Wiring Solutions, experts in security systems, alarm monitoring and home automation, leased 1,000 square feet of flex warehouse space in suite 6270 in Edgewater Commerce Center at 3300 Edgewater Drive. 

ADTC Fire and Security, Inc. of Orlando leased suite 116 with 639 square feet in the Kirkman Commerce Center at 771 Kirkman Rd. in Southwest Orlando.  


Christie Alexander
NAI Negotiates $11 Million Sale of 368-Unit apartment community in St. Petersburg, FL


 St. Petersburg, Fla. – NAI Realvest and NAI Tampa Bay recently teamed in completing the $11,000,000 sale of the 368-unit Mariner’s Pointe apartment community located at 1175 Pinellas Point Drive South in St. Petersburg. DWSS St. Pete, LLC, based in Atlanta, purchased the property.


John Burpee, NAI Tampa Bay CEO, NAI Realvest chairman George Livingston, principal Christie Alexander, associate Paul Vera, and broker associate Drew Saphos, CCIM represented the seller, Dallas-based AHF-Bay Fund, LLC.


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


Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com.

Hold-Thyssen negotiates new lease with E-Cig Depot at Enterprise Plaza in Orange City, FL


Darby Hold
WINTER PARK, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated a three-year retail lease agreement at Enterprise Plaza, 2499 Enterprise Rd. in Orange City.

 Darby Hold, lease consultant for Hold-Thyssen, negotiated the transaction on behalf of the Landlord, Florida Premier Group, Inc., based in Rochester, Mich.

The E-Cig Depot, Inc. leased Suite K with 1,054 square feet at the shopping center and joins existing tenants Sherwin Williams, Beauty Alliance and Arby’s.   The tenant was not represented in the transaction.

 Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com.

Northeast Private Client Group and Carassone Properties Join Forces in Property Management


Paul Carassone
WHITE PLAINS, NY – Investment sales broker Northeast Private Client Group has expanded its New York property management operations through a newly formed strategic partnership with Carassone Properties of Fishkill, NY.

 The newly formed entity will do business as Northeast Carassone Management, Inc., with offices in Fishkill, NY, and Hartford, CT, better positioning Northeast PCG to serve building owners and real estate investors in the Hudson Valley and Westchester.

“Our long-standing relationship with Carassone Properties helped pave the way for this partnership,” said Edward Jordan, JD, CCIM, Northeast PCG’s managing director.  “We will now be able to leverage our newly combined management team to support building owners and investors from the Hudson Valley through Central Connecticut.” 

Marc Carassone
Under the leadership of Paul and Marc Carassone, both veteran multifamily managers and strategists, the Northeast Carassone Management senior team also includes Andre Bakaj and Michele Velez, ARM. 

The company  currently provides asset management and leasing services for hundreds of apartment units across multiple submarkets. 

Mr. Bakaj joined Northeast PCG in 2011 as head of its Hartford-based investment sales team and was named sales and leasing manager for the property management division in 2012.


Edward Jordan
 Ms. Velez joined the team in 2013 with Northeast PCG’s acquisition of the Connecticut property management assets of Redbrick Partners, a Washington, DC, based multifamily investment and development firm.

This expansion of the Northeast PCG’s property management capabilities complements the firm’s rapid growth with offices in New York, Connecticut, Massachusetts and Rhode Island.
 




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

Randy Savicky
Founder/CEO
Strategy+Communications
Connecting the New PR & Marketing to Business Goals
21 Brierbrook Lane, Weston CT 06883
T: 203-226-6156
M: 203-571-8151

Wednesday, February 26, 2014

MHA Brokers Sale of Two Montgomery, AL Apartment Complexes; Beech Street Capital arranges acquisition financing.

  
Bell Station Apartments, Montgomery, AL

  
Jimmy Adams
MONTGOMERY, AL (Feb. 26, 2014) — Multi Housing Advisors (MHA) has brokered the  sale of the 224-unit Bell Station and the 28-unit Watchman Court, located at 3201 and 3301 Watchman Dr., respectively, in Montgomery, Ala.

 Combined, the contiguous properties were 93 percent leased at the time of the sale.

Jimmy Adams of MHA’s Birmingham, Ala., office represented the sellers, Tritex Real Esate Advisors and Watchman Court, Ltd., and was the only broker involved in the deal. EBSCO Watchman Dr. LLC was the buyer.

“The sale of Watchman Court and Bell Station shows that investors are more receptive today to acquiring assets in non-core markets like Montgomery,” Adams said. “We expect to see a significant uptick in sales this year throughout Alabama and Mississippi.”   

Chad Hagwood of Beech Street Capital, LLC, arranged a Freddie Mac loan for the buyer.

This is the first transaction closed since Beech Street Capital and MHA formed their alliance.

Chad Hagwood
Through their agreement, Beech Street Capital’s clients gain direct access to local broker intelligence, and MHA’s clients gain direct access to capital markets, providing a more efficient transaction process.

The goal is to help investors use that intelligence to identify desirable properties and, more importantly, to provide the well-integrated transactional and financial support investors need to seize these opportunities quickly.

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast.

Since that time, MHA has created value for clients in virtually every sector of the multi-housing market.

The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.
  
For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)


Taylor & Mathis South Florida Team Volunteers at Kristi House




MIAMI, FL, Feb. 26, 2014--The Taylor & Mathis South Florida team (above) put their award winning property management skills to good use last week. Fifty employees volunteered two days of man hours and expertise at Kristi House, Inc., a private, non-profit organization in Miami, Florida dedicated to healing and eradicating child sexual abuse.

Kristi House operates the Orlowitz-Lee Children’s Advocacy Center responsible for sexual abuse cases in all of Miami-Dade County, population 2.6 million.  The team did everything from painting to landscaping to repairs. 

Mary Faraldo
“With companies like Taylor & Mathis teaming up with us for a service project, we are able to tackle projects which are greatly important to the integrity of the building – yet come at a great financial burden. Volunteers give us the opportunity to keep more dollars for therapy – rather than deferring money for needed upkeep.”  -- Mary Faraldo, Community Relations Officer Kristi House.

 “We feel so blessed to lend our time to such a worthwhile organization,” stated T&M Director of Operations Marlene Diaz.  “We have an incredible team of employees whose devotion to giving back to their community warms my heart.”

 Kristi House is located on the University of Miami/Jackson Memorial Hospital campus at 1265 NW 12 Ave. Its south facility is located on U.S. 1 and 152nd and its north facility is located at 18441 NW and 2nd Avenue.

Founded in 1996, Kristi House has served more than 10,000 victims of child sexual abuse and their families.

Marlene Diaz
Thousands more are reached every year with education and prevention outreach programs. 

Services include case coordination, therapy, comprehensive assessments, transportation, advocacy, prevention education and training, and emergency assistance. Visit www.kristihouse.org.

 Taylor & Mathis is a diversified real estate company specializing in the development, marketing and management of office buildings, suburban office parks, industrial parks and mixed-use projects.

In Florida the company leases and/or manages a portfolio over 11 million square feet. 

Founded in 1967, the company has developed properties exceeding $1.9 billion in value and has established itself as one of the most respected regional real estate firms in the United States.

Based in Atlanta, with key Florida offices in Tampa, Orlando, Sawgrass and Miami, Taylor & Mathis concentrates its business activity in primary growth markets in the southeastern United States.

For more information, visit www.TaylorMathis.com.

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

Marlene Diaz, mdiaz@taylormathis.com
Mary Faralado, mary@kristihouse.org

Berger Commercial Realty Hires Patricia Lehmbeck as New Senior Property Manager


Patricia Lehmbeck
FORT LAUDERDALE, FL (Feb. 26, 2014) – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced it has hired Patricia Lehmbeck as a senior property manager.

 In her new position, Lehmbeck will manage the overall operations of more than 1 million square feet of office and industrial space in Broward and Palm Beach counties. Previously employed by CBRE, she joins Berger Commercial Realty with more than nine years of property management and accounting experience.

Lloyd Berger
 "We are pleased to welcome Patricia to our team of experienced real estate professionals," said Berger Commercial Realty President Lloyd Berger

"A knowledgeable property manager, Patricia offers our clients her expertise in tenant relations and developing and implementing solutions that improve property values." 

A resident of Coral Springs, Lehmbeck received her bachelor's degree in business management at Ottawa University in Kansas and earned a master certificate in applied project management through Philadelphia-based Villanova University's online professional education program.

Ranked among the largest commercial  real estate firms in South Florida, Berger Commercial Realty provides comprehensive, cost-effective property management and brokerage services to both institutional and non-institutional owners.

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

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226


Marcus & Millichap Capital Corp. Names Farhan Kabani Senior Director in Dallas, TX Office

  
Farhan Kabani

 DALLAS, TX, Feb. 26, 2014 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has promoted Farhan Kabani to senior director in the firm’s Dallas office, according to MMCC’s central region vice president, Charles Krawitz.

“Farhan has shown a unique tenacity to find the right financing for countless commercial real estate transactions regardless of complexity.  His knowledge and experience is first in class,” says Krawitz.

Kabani began his career with MMCC in 2006 as a loan analyst. In 2012, he was promoted to director.

He has structured and closed more than 600 transactions in excess of more than $1 billion in funded loans over his career.

He is responsible for securing commercial debt and equity financing for an array of property types including retail and single tenant net-leased buildings.

Kabani is a graduate of Southern Methodist University where he earned a Bachelor of Arts degree in economics and a Bachelor of Science degree in finance.

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

Gina Relva
Public Relations Manager
Marcus & Millichap Capital Corporation
(925) 953-1716

Lexington Homes Kicks Off Sales for Lexington Station Rowhomes in Morton Grove, IL

  
Rendering of planned Lexington Station Row Homes, Morton Grove, IL

Chicago, IL (Feb. 26, 2014) - Chicago-based Lexington Homes has announced the start of sales at Lexington Station, a community of 31 three-story rowhomes in highly sought-after Morton Grove.

Lexington has designed new floor plans specific for the community and plans to break ground on three models that will be ready for summer delivery. 

Jeff Benach
“As one of Chicago’s oldest private homebuilders, we’re known for staying on top of changing lifestyles and design trends in Chicago’s housing market. So, we are constantly evolving our portfolio to ensure we are always meeting homebuyers’ needs,” said Jeff Benach, co-principal of Lexington Homes.

“Lexington Station is no exception. Per customer feedback, the new designs include functional and flexible spaces like great rooms and larger kitchens with more countertop and seating space that provide convenient day- to-day living and ample room for entertaining.”

Located just south of Dempster Street on Lincoln Avenue, approximately one mile from I-94, Lexington Station offers buyers affordable new construction in a desirable location within walking distance to shopping, restaurants, the Morton Grove Library and the Metra. 

 For more information or to make an appointment to visit Lexington Station, visit www.lexingtonchicago.com or call 847-531-6300.

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

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519
Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Multihousing Real Estate Business Looks to Expand in 2014, Beech Street Capital Survey Reveals


Grace Huebscher
  BETHESDA, MD, FEB. 26, 2014 – Multihousing commercial real estate professionals are more than twice as likely to be net buyers than net sellers in 2014, according to a recent industry survey conducted by Beech Street Capital, a Capital One company.

Forty-six percent of those surveyed plan to grow their portfolios this year, while only 18 percent expect to reduce their holdings. In addition, the majority (52 percent) of those polled expect that acquisition financing will be most important to their business in 2014.

Rising interest rates were cited by 34 percent of respondents as their greatest concern in the coming year, compared to overbuilding of apartment units (24 percent), the pace of cap rate expansion (11 percent), access to financing (10 percent), and global uncertainty (10 percent).

Rick Lyon
“Our survey found that multihousing acquisitions are clearly on the rise, driving an increase in demand for acquisition financing,” said Rick Lyon, Head of Commercial Real Estate Banking, Capital One Bank, which acquired Beech Street Capital last November.

“Our team is well-positioned to provide access to tailored acquisition financing solutions that suit the needs of our commercial real estate clients looking to expand in the year ahead.”

Over half (51 percent) of respondents expect urban properties to increase in value, with only half as many seeing increases for suburban properties (24 percent).

In addition, the survey found that 42 percent of industry professionals expect multifamily renovations to gain the most momentum in 2014, compared to other industry trends such as developers moving into emerging markets (32 percent), and increases in luxury developments (16 percent) and affordable housing developments (10 percent).
  
“Many owners are choosing to renovate and modernize their properties to remain competitive and maintain customer satisfaction,” said Grace Huebscher, Beech Street’s president. “At the same time, savvy developers are looking to new markets for opportunities, contributing to a positive outlook for the industry.”

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

Courtney Lewis at 240-507-1948 or
Jenifer Bernardi at 240-507-1946.


Avison Young completes sale of 44,800-square-foot industrial property in Irvine, CA


17392 Daimler Street, Irvine, CA

Dan Vittone
Los Angeles, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the sale of a vacant 44,800-square-foot (sf) industrial property in Irvine, CA.

 Avison Young Principals Dan Vittone and Alan Pekarcik, based in the company’s Irvine office, along with Sam Olmstead of Voit Real Estate Services, represented the seller, Pacific Systems, and the buyer, Burke Real Estate Group.

“The property was previously occupied by Fidelity National Title,” comments Pekarcik. “The buyer intends to renovate the property and re-market it for lease or for sale.”

Situated on 1.88 acres, the property is located at 17392 Daimler Street. The asset offers easy access to the 405 and 55 freeways and is near John Wayne Airport. 

The building includes a reception area, three offices, conference room, two large open areas, five ground-level loading doors and one dock-high loading door.


Alan Pekarcik
“In 2013, industrial sales activity remained fairly stable year-over-year, with 2.4 million square feet (msf) registered in the fourth quarter alone for a 2013 total of 7.23 msf, compared with 7.32 msf in 2012,” observes Vittone.

“The slight drop in activity can be attributed to the lack of supply in some size ranges, and especially in the 40,000-sf to 60,000-sf range such as the subject property, which is putting upward pressure on pricing.”

As of the fourth quarter of 2013, the industrial vacancy rate in Irvine is 6.1% – the lowest figure seen since the first quarter of 2009 – and about 10% less than the vacancy in 2012.

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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

Thomas D. Wood and Company Secures $73.1 Million for Miami Beach Hotel Developers


Hyatt South Beach Hotel, Miami Beach, FL

Thomas D. Wood Jr.
Miami, FL –Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured $73,100,000 in construction financing for three Miami Beach, Florida, hotel developments.

 The Robert Finvarb Companies, an established hotel developer, requested nearly $29 million in construction financing for the Hyatt South Beach, the first Hyatt hotel on South Beach. 

Company President Thomas D. Wood, Jr., arranged the construction/mini-perm loan through the Company's relationship with a national bank. 

The 105-room hotel will replace the Tropical Gardens apartment building at 1600 Collins Avenue, part of South Beach's Art Deco district. 

The Miami Beach Historic Preservation Board approved the demolition of the rear section of the Tropical Gardens building, while the front of the building is expected to remain intact. The hotel is scheduled to open in early 2015.

Wood secured an additional $32,100,000 construction loan for the Robert Finvarb Companies to develop the AC Hotel South Beach. 

Patrick Harrington
 Patrick Harrington, Vice President, secured a $12,000,000 bridge loan for the complete renovation of the Claremont Hotel on South Beach through Thomas D. Wood and Company’s relationship with a local bank. 

The bridge loan has a term of seven years, two years of which are interest-only, based on an interest rate of Prime + 1.25% and a 20-year amortization thereafter.  

The loan-to-value is 63% of as-complete valuation, and loan-to-cost is 68%.

  Built in 1947, the 69-room hotel is subject to a ground lease with 31 years remaining, but is currently undergoing a full renovation, upon which it will be converted to a Hampton Inn.  

The Claremont Hotel is located at 1700 Collins Avenue, Miami Beach, Florida.




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

Jessica Kinnee            
Director of Marketing & PR
Thomas D. Wood & Co.                                    
 (407) 374-0251                   
        

BA Promotes 3 to Associate Vice President

  
David H. Stevens
 WASHINGTON, D.C. (Feb. 26, 2014) –  David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), announced the promotion of three current staffers from Director to Associate Vice President, effective March 1, 2014.

Brad Cheney, Associate Vice President of Legislative Affairs

Mr. Cheney, MBA’s lobbyist focusing primarily on Democrat members of the U.S. Senate, joined MBA in November, 2009 from the office of Congressman Brad Sherman (D-CA), where he served as Chief of Staff. 

Heather Messam, Associate Vice President and Controller

Ms. Messam, CPA joined MBA’s Accounting and Finance group as a Senior Accountant in January, 2001 from the National Rural Electric Cooperative Association, where she had been a Finance Specialist and Senior Accountant.  At MBA, she was promoted to Manager in 2003 and Controller in 2008.  

 Len Wolfson, Associate Vice President of Legislative Affairs

Mr. Wolfson, MBA’s lobbyist focusing primarily on Republicans in the U.S. House of Representatives, joined MBA in November, 2008 from the U.S. Department of Housing and Urban Development (HUD) where he served as Deputy Assistant Secretary for Congressional and Intergovernmental Relations.

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

John Mechem
(202) 557-2727

MBA Promotes Marina Walsh to Vice President of Industry Analysis


Marina Walsh
WASHINGTON, D.C. (Feb. 26, 2014) –  David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), announced that Marina Walsh, currently Associate Vice President of Industry Analysis will be promoted to Vice President of Industry Analysis, effective March 1, 2014.

Ms. Walsh has been a member of MBA’s Research and Economics team since 2000, specializing in industry performance benchmarking for residential lenders and servicers.  

She is responsible for overseeing MBA’s annual and quarterly Mortgage Bankers Performance Reports for Independent Mortgage Bankers, the Servicing Operations Study and Forum, the Mortgage Banking Peer Group Survey and Roundtable Program and the Mortgage Banking Compensation Survey Program, among others.  

“For more than a decade, Marina has been at the center of our benchmarking and industry analysis efforts, developing and perfecting products that bring great business value to MBA’s members,” said Stevens. 

  “Our members rely on her studies to chart the course for the future of their businesses, and I and others at MBA rely heavily on her studies to provide insight into the business challenges our members face so we can appropriately set our agenda.”

David H. Stevens
In addition, Ms. Walsh conducts MBA workshops on a variety of current business topics of importance to the industry and provides program advisory support for MBA conferences.  

She also instructs MBA Education webinars and courses and frequently speaks at MBA events and other industry conferences.   Her work appears in American Banker, National Mortgage News, Mortgage News Daily, MBA Newslink and Mortgage Banking.    

Prior to joining MBA, Ms. Walsh was a manager in the Real Estate Advisory Group at Ernst and Young where she focused on federal credit program design, implementation and performance measurement. 

  She holds a bachelor’s degree from Cornell University and a Master of Public Administration from Columbia University.

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

John Mechem
(202) 557-2727

Tuesday, February 25, 2014

Colliers Lists Pompano, FL Waterfront Hotel Development Site

Clinton Casey
FORT LAUDERDALE, FL - Colliers International South Florida is pleased to announce a new listing of two waterfront parcels in Pompano Beach totaling 2.8 acres with preliminary approval for up to a 150-room hotel, 10 stories tall. 

The site will also accommodate development of a signature waterfront restaurant as part of the hotel project. 

The property, located at 2507 North Ocean Boulevard, is listed for sale by listing agents Richard Lillis, Executive Vice President, Clinton Casey, Senior Commercial Associate and Kent Schwarz, Executive Vice President, on behalf of the receiver. 

Kent Schwarz
"The project's enviable location on the Intracoastal Waterway, the riparian rights, the proximity to the Hillsboro Inlet and the beautiful beaches of Pompano create a very compelling message that will attract a broad spectrum of buyers," says Lillis.

 There is significant leisure and group demand for hotels in the area, especially since there are no Hilton, Hyatt or Starwood branded hotels currently in Pompano Beach.

The Greater Fort Lauderdale hotel market has experienced enviable revenue per available room growth of approximately 7% per year over the last few years. 

Colliers International's sister company, PKF Hospitality Research, forecasts continued growth for the foreseeable future through 2017.  

Richard Lillis
"We believe that a hotel at this site will attract leisure travelers, boaters and diners seeking a unique and convenient waterfront setting," adds Lillis.

The hotel development site, which also has an operating 25-slip Marina, has unobstructed Intracoastal Waterway views to the north and third-floor views of the Hillsboro Inlet and the Atlantic Ocean to the south.

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


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



Franklin Street Completes Move Into New Miami Office


Deme Makras
MIAMI, FL (Feb. 25, 2014) —  Franklin Street, a full-service commercial real estate firm based in Tampa, has  moved its South Florida team into a new office in Miami. The 3,000 square foot space is located at 6205 Blue Lagoon Drive, Suite 280, in Miami.  

“The office move has rejuvenated our resolve to grow our South Florida team,” said regional managing partner Deme Mekras. “We are now positioned to actively recruit driven commercial real estate professionals who are looking to build their career with one of the fastest growing companies in the Southeast.”

Mekras added, “We are interested in talking with anyone who thrives in a team atmosphere and is a good fit for our collaborative culture.”

Currently, Franklin Street has a veteran multifamily investment sales team and commercial real estate insurance group in Miami. With the new office move, the company is looking to expand its service capabilities by adding a retail investment sales and leasing team, an industrial and office brokerage team and a capital advisors group. 


Andrew Wright
“South Florida is a very important market to us and we are focused on building out our full-service platform for our clients in the area,” said Franklin Street CEO and managing partner Andrew Wright.  “South Florida is one of the largest markets in the Southeast. It is a hotbed of activity which creates a lot of opportunity for collaboration with our other offices.”

Wright explained that expanding the company’s presence in South Florida is strategic to Franklin Street’s overall corporate growth plan. “We have built a brand people recognize in the short time we have been doing business and I am excited about what we will accomplish going forward.”

Franklin Street has offices in Tampa, Atlanta, Miami, and Jacksonville with plans to grow into other southeast U.S. markets this year. In 2009, Franklin Street opened the first South Florida office in Fort Lauderdale. The team moved to a temporary space in 2013 where the South Florida team worked until the new 6205 Blue Lagoon suite was complete.

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

Todd Templin
Executive Vice President, Boardroom Communications
1776 N. Pine Island Road, Suite 320
Plantation, FL  33322
Office phone: 954-370-8999
Cell: 954-290-0810


NAI Realvest Negotiates New Lease for a 6,500 Square Foot CrossFit Gym operation near Downtown Orlando, FL


Mitch Heidrich
Orlando, FL – NAI Realvest recently negotiated a lease agreement for a new 6,500 square foot CrossFit gym in Unit B of the retail/flex facility located at 511 Brookhaven Drive near downtown Orlando.

 The NAI Realvest retail team of Mitch Heidrich, Kevin O’Connor and Matthew Cichocki negotiated the lease representing the tenant CFO Partners, Inc. who will operate as CrossFit Orlando providing accredited fitness training seminars.

The tenant outgrew its space at 5134 Adanson St. in Orlando and relocated to the Brookhaven Drive facility with plans to open in March.

The landlord, Brookhaven/511, LLC was represented in the transaction by Crossman & Company.

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


Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@alol.com

Regency Centers Corp. Brokers Leases for Whole Foods Market stores at Shops on Main and Hinsdale Lake Commons centers in Chicago area


Nick Wibbenmeyer
CHICAGO--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG), a national owner, operator and developer of grocery-anchored community shopping centers, has announced that two new Whole Foods Market grocery stores will be coming to the Chicago area.

 Leases have been signed at the Shops on Main center and also at Hinsdale Lake Commons, replacing the previous tenant, Dominick’s.

“Few brands carry the respect and consumer appeal that Whole Foods Market does,” said Nick Wibbenmeyer, vice president and regional officer at Regency Centers. 

“They are a national leader in offering high quality, organic foods, and we are very excited to be partnering with them to better serve our communities in Chicago and around.”

Michael Bashaw
“Schererville and Willowbrook are not only dynamic and energetic communities, but they also share our strong passion for natural and organic foods,” commented Michael Bashaw, Midwest regional president, Whole Foods Market.

 “We are delighted to be a part of these communities and support the wonderful people who live in them.”

Currently under construction for opening this spring, the Shops on Main is a 200,000-square foot community shopping center in Schererville, IN, which is located 25 miles southeast of downtown Chicago. 

The 178,960 square foot Hinsdale Lake Commons center is located in Willowbrook, IL at the intersection of Robert Kingery Hwy (SR 83) and 63rd St., approximately 22 miles southwest from Chicago. 
  
For leasing or more information about the Shops on Main, Hinsdale or other Regency properties in the Chicago market, contact leasing agent Rick Spector at 630-645-2817 or RickSpector@RegencyCenters.com.

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

Cohn Marketing
Lauren Simpson, 303-839-1415, ext. 43
or
Regency Centers Corporation
Nick Wibbenmeyer, 630-645-2806
Vice President, Regional Officer