Wednesday, April 30, 2014

Berger Commercial Realty Honored by Industry Leader CoStar as a Top Leasing and Sales Firm in Broward County: Brokers Joseph Byrnes and Keith Graves also receive awards

  
Joseph Byrnes

FORT LAUDERDALE, FL (April 30, 2014) – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale, announced it has earned two CoStar Power Broker Awards as a Top Leasing Firm in Broward County and as a Top Sales Firm in Broward County for the firm's volume of sales and leasing transactions in 2013. It is the seventh time the firm has won the annual awards.

Additionally, Berger Commercial Vice President Joseph Byrnes and Berger Commercial Principal Keith Graves won CoStar Power Broker Awards as  Top Leasing Brokers.
  
CoStar annually tallies commercial real estate sales and lease transactions to determine the winners of the prestigious CoStar Power Broker Awards, presented to firms and brokers who closed the highest transaction volume in commercial property sales and leases in their respective markets.

"As the largest provider of information and analytics for the commercial real estate industry, CoStar is uniquely qualified to rank and recognize the most active firms and individual dealmakers in the South Florida region," said Berger Commercial Realty President Lloyd Berger. "We saw a great deal of activity in 2013 and these CoStar awards reflect that."

Keith Graves
This is the eighth year Byrnes has received a CoStar Power Broker Award. A leasing specialist who represents more than 800,000 square feet of office, industrial and retail space, Byrnes is a member of the Broward Economic Development Board and a past member of the Commercial Industrial Real Estate Broker Association, for which he served as president from 2005 through 2010.
  
This is the second consecutive year that Graves has received a CoStar Power Broker Award. He has more than 25 years of experience in South Florida's commercial real estate market and a long history of transactions including industrial, office, land and retail. Graves holds a Professional Designation of Real Property Administrator (RPA) from BOMI International and is a member of NAIOP's South Florida Chapter and the Realtors Commercial Alliance of Miami.

Both Byrnes and Graves have received Certified Commercial Investment Member (CCIM) designations from the CCIM Institute, a leading commercial real estate association that recognizes experts in the commercial and investment real estate industry.

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

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


Demand for Density Meets Demolition Strategy at New JLL Office Listing in Tempe, AZ



Tempe 10/60 Corporate Center                                                                                                             (formerly known as Corporate Fountains)                                                                                          is located at 4415 – 4625 South Wendler Drive in Tempe,                                                                  alongside Interstate 10 and just south of the I-10/SR-60                                                                            (Superstition Freeway).
                                                                                                                                

Dave Seeger
PHOENIX, AZ, April 30, 2014 – Greenlaw Partners and The Broe Group have selected the Phoenix office of JLL to market a 90,000-square-foot office project in Tempe, Ariz., where the demand for high density space spurred demolition of a portion of the complex in exchange for a higher parking ratio.

 Greenlaw Partners and The Broe Group purchased the project for $3.5 million.

Tempe 10/60 Corporate Center (formerly known as Corporate Fountains) is located at 4415 – 4625 South Wendler Dr. in Tempe, alongside Interstate 10 and just south of the I-10/SR-60 (Superstition Freeway).

The project originally totalled 110,000 square feet in two 45,000-square-foot, two-story buildings and one 20,000-square-foot, single-story building. 

Upon review of the property, Greenlaw and The Broe Group recognized the opportunity to add value to its investment through a number of key physical changes.

San Filippo, partner at Greenlaw Partners. “JLL is a great choice to market this asset in that they are a strategic partner in effectively positioning creative opportunities such as Tempe 10/60 Corporate Center. Phoenix has a lot of value-add opportunity and it will be a market where we look to remain active.”

“Going to this length to create a high density environment underscores Phoenix’s demand for this type of space,” said JLL Managing Director Dave Seeger, who is marketing Tempe 10/60 Corporate Center with JLL colleague and Managing Director Karsten Peterson. “A parking ratio of 4:1,000 or 5:1,000 is good, and 6:1,000 is great, but a ratio of 7:1,000 is outstanding.”

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

Atlanta's “Commercial Real Estate Show” Launches New Website

  
Michael Bull

 ATLANTA, GA – The insightful analysis and enlightening discussions that mark the nationally syndicated “Commercial Real Estate Show” program aren’t just limited to terrestrial radio.

More than ever before, the discussions are easily accessible online, thanks to the show’s new website, www.CREshow.com. The new site features a sleek modern design that offers users an interactive and content-rich experience.

 Site visitors are able to access a vast array of content in almost every medium. Fans can choose to watch videos, listen to show podcasts or read blogs about commercial real estate and business-related topics.

The show has become popular around the country for informative market updates and forecasts on most real-estate sectors. Visitors can also learn about trending business topics like crowd funding, social media, tax credits and effective tenant strategies.

The redesign also features the recently launched “Ask Michael Bull” video series. Each business day, in a short video, the show’s host answers a question submitted by show listeners in the website’s “Answers” section. Like the videos, podcasts and blogs, the questions are easy to peruse for topics of interest.

The redesigned website marks another exciting chapter in the growth of the “Commercial Real Estate Show.”

“The show has undergone some significant growth in the last three-and-a-half years, and we are excited to bring this robust site to our growing fan base around the country,” said Michael Bull, host and executive producer of the program as well as CEO of Bull Realty.

The show has been adding affiliate terrestrial radio stations and growing its online numbers. The show airs on 11 stations around the country and has become the No. 1 investment podcast on the PodOmatic app.

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

Stephen Ursery
The Wilbert Group
404.405.2354


Tuesday, April 29, 2014

Kiser Group Retained to Sell Three Apartment Properties and Two Mixed-Use Buildings in Rockford, Park Ridge and Chicago, IL


Noah Birk
                                                    CHICAGO, IL – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, has been retained for five new Chicago-area listings: a 130-unit apartment complex in Rockford; a 16-unit apartment building in Park Ridge; and three properties in Chicago including a mixed-use building at the corner of Montrose and Milwaukee on the Northwest Side; a 20-unit mixed-use building in Chatham; and a 12-unit apartment building in Auburn.

 The properties are at:

4242 Harrison - Rockford
1620 Dempster – Park Ridge
4368 N. Milwaukee – Jefferson/Portage Park
 8259 S. May – Auburn Gresham

7852 S. Champlain - Chatham

 “This property has an above average, 9 percent capitalization rate at list price,” said Noah Birk, managing director of Kiser Group, who is marketing the listing. “With some cosmetic upgrades, rents can be significantly increased.”

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Next Piece of Miami River Village Sold for $33.1 Million


Larry Stockton
MIAMI, FL - Colliers International South Florida is pleased to announce that Larry Stockton, Alex Morcate, CCIM and Jeff Resnick have closed on another high density land site in Miami's Central Business District.

The team represented the seller, Riverfront Parcel 5 LLLP and Riverfront Parcel 6 LLLP, both controlled by Integra Investments, on the sale of two sites totaling 2.97 acres located within the Miami River Village community.

The land sold for $256 per square foot, or $33.1 million, in a very competitive bidding process.

Alex Morcate
The buyers, MRP Parcel 5, LLC and MRP Parcel 6, LLC, both controlled by KAR Properties, are now well on their way toward completing their vision for Miami River Village, the CBD's only gated waterfront community, by acquiring all of the remaining vacant parcels therein.

The three sites now owned by KAR, including their first acquisition of the 1.79-acre CIMA site last year, are approved in perpetuity for 1,426 units in three high-rise towers.

KAR's first tower will be an ultra-luxury 800 foot tall condominium on the water, for which they have hired a world renowned architect to be named shortly.

Jeff Resnick
This is the Colliers team's 13th closing in Miami's CBD of high density land, including the majority of the land assembled for Brickell CityCenter.

According to Larry Stockton, the team has another large multifamily site in the Brickell market currently under agreement and a smaller mid-rise site they will be bringing to market shortly.

  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

Marcus & Millichap Arranges $175,000 Sale of Gardenia Gardens Apartments in Fort Myers, FL


Gardenia Gardens Apartments, 
4349 Armedia Avenue, 
                                Fort Myers, FL                                        


 FORT MYERS, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Gardenia Gardens, a seven-unit apartment property located in Fort Myers, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.  The asset sold for $175,000.

Adam Podbelski
Adam Podbelski, an associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Georgia. 

  Mr. Podbelski also procured the buyer of the property, a private investor from Miami.

Gardenia Gardens was built in 1974 and is centrally located at 4349 Armeda Avenue in Fort Myers, Fla.  Situated on approximately a 0.30-acre lot, the concrete block structure contains seven, two-bedroom/one-bathroom units with approximately 780 rentable square feet.

“By collectively emphasizing Gardenia’s high return and the significant growth taking place in Lee County’s rental markets, we generated multiple offers from local and out-of-area buyers,” says Podbelski.  

“As a result of our national marketing campaign, we were able to procure a cash buyer in just over thirty days and ultimately closed within twenty-six days of the executed contract date.”

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

Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700

HFF arranges $40 million refinancing for Beverly Hills, CA medical office building


Christopher Vittetoe
LOS ANGELES, CA – HFF announced today that it has arranged a $40 million refinancing for 450 N. Roxbury, a 101,653-square-foot medical office building in Beverly Hills, California.

               Working exclusively on behalf of Starpoint Properties, LLC, HFF placed the 15-year, fixed-rate loan with an affiliate of Guggenheim Finance LLC.  The loan, which is refinancing senior debt on the property, will also be serviced by HFF.

               450 N. Roxbury is located a few blocks from the intersection of Wilshire and Santa Monica Boulevards in the Golden Triangle area of Beverly Hills.  The property is fully leased.     

The HFF debt placement team representing the borrower was led by director Chris Vittetoe and managing director Paul Brindley.

Starpoint Properties, LLC is a leading real estate investment firm that specializes in acquiring core, core-plus and value-added commercial assets through a team of seasoned and experienced real estate professionals.

 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


$96.6 million sale of Class A trophy office in northern New Jersey closed by HFF


Jose Cruz

FLORHAM PARK, NJ – HFF announced today that it has closed the sale of 22 Sylvan Way, a 249,409-square-foot, Class A trophy office building in Parsippany, New Jersey.

               HFF represented the seller, Mack-Cali Realty Corp. in the transaction.  The buyer, Griffin Capital purchased 22 Sylvan Way for approximately $96.6 million.  

In addition to the sales price, Griffin is assuming responsibility for additional leasing commission and tenant improvement allowance obligations. 

               22 Sylvan Way was completed in 2009 as a build-to-suit for the corporate headquarters of Wyndham Worldwide Operations, a subsidiary of Wyndham Worldwide Corporation, which leases the entire facility. 

The three-story property is the only building in New Jersey to have LEED designations in both Commercial Interiors (2010) and Existing Building – Operations and Maintenance (2013). 

Andrew Scandalios
The common areas of 22 Sylvan were designed to match those of a five-star Wyndham resort and tenants have access to amenities including a full service cafeteria, state-of-the-art fitness center with Yoga/Pilates room, coffee station, training center, credit union, gift shop, wellness center and a resort-style courtyard.

  22 Sylvan Way is situated on a 23.2-acre site within the Mack-Cali Business Campus close to the intersection of Interstate 287 and Route 10 in northern New Jersey.

               The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn, Jeffrey Julien and Coler Yoakam, and senior analyst Marc Duval.

               “The buyer performed very well, finishing the transaction quickly,” said Cruz.  “The property is of the highest quality and is very well located.  The demand for the property was very high with multiple groups bidding in multiple rounds.”

Kevin O'Hearn
Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. 

Mack-Cali owns or has interests in 279 properties, consisting of 266 office and office/flex properties totaling approximately 30.8 million square feet and 13 multi-family rental properties containing approximately 3,900 residential units, all located in the Northeast. 

The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.

Griffin Capital Corporation ("Griffin Capital") is a privately-held, Los Angeles-headquartered investment and management company with an 18-year track record sponsoring real estate Investment vehicles and managing institutional capital. 

Jeffrey Julien
  Led by senior executives, each with more than two decades of real estate experience who have collectively closed transactions representing over $16 billion in value, Griffin Capital and affiliates have acquired or constructed over 28 million square feet of space since 1995, and currently own, manage, sponsor and/or co-sponsor an institutional-quality portfolio of more than 26.08 million square feet located in 32 states, representing approximately $4.7 billion in asset value.



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 closes sale of 3-building industrial portfolio in Austin, TX


Randy Baird
DALLAS, TX – HFF announced today that it has closed the sale of a three-building, 275,499-square-foot industrial portfolio in Round Rock (Austin), Texas.

               HFF marketed the portfolio on behalf of the seller, a Boston-based institutional advisor.  Stoltz Companies purchased the assets for an undisclosed amount free and clear of existing debt.

               The portfolio is comprised of 110, 116 and 120 East Old Settlers Boulevard, which are situated just off Interstate 35 in the North Austin area of Round Rock, home to the corporate headquarters of Dell and the future location of Apple’s $300 million campus and GM’s Innovation Center. The properties are fully leased to three tenants: Thermo Fisher Scientific, Total Site Solutions and Toshiba. 

               The HFF investment sales team representing the seller was led by senior managing director Randy Baird, managing director Jud Clements and director Robby Rieke.

               Stoltz is a vertically integrated owner/operator real estate investment and services company with a focus on value-added and core-plus strategies.  Investments are held in multiple, closed-end commingled investment funds comprised of institutions, corporate pension plans, foreign investors, high-net worth individuals, and sponsor equity.  Stoltz has owned and managed properties exceeding $1.5 billion in asset value consisting of approximately 10 million square feet of retail, office, industrial and land throughout the U.S. across its five funds. 


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 expands Philadelphia office with debt placement team


Mark Thomson

PHILADELPHIA, PA – HFF announced today that it has expanded its Philadelphia office with the addition of  Ryan Ade and James Conley, who have joined the firm as managing directors focused on debt and equity placement transactions in the greater Philadelphia area.

               Ryan Ade has more than 15 years of commercial real estate finance experience.  He joins HFF from Wells Fargo Commercial Mortgage Banking where he was a managing director of loan originations since 2009. 

               James Conley, who has more than 12 years of commercial real estate experience, joins HFF from Marcus & Millichap Capital Corporation, where he was a senior director for the past seven years. 

               Christopher Bigos has also joined the firm and will work as a senior financial analyst for the group.  He joins HFF from Fulton Financial Corporation where he was a Relationship Manager.  Bigos graduated from the Kelley School of Business at Indiana University.

               “HFF continues to strategically grow our newly opened Philadelphia office with individuals who have the best reputations in the market, who exhibit great work ethic, and most importantly, ascribe to our culture of high integrity and always putting the client’s interest first," said Mark Thomson, senior managing director and co-head of HFF Philadelphia.  "James and Ryan’s backgrounds make them an ideal fit for this expansion and we are excited to have them on board."

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


Wilhelmsen Technical Solutions Moves to Miramar Park of Commerce in Miramar, FL

  
MIRAMAR, FL (April 29, 2014) – Wilhelmsen Technical Solutions, a global provider of cost-efficient engineered solutions, equipment and services for the maritime and offshore industries, has moved to the Miramar Park of Commerce, the largest locally owned and managed Business Park in South Florida.

The company is leasing 24,200 sq. ft. of space in MPC-11 at 2785 N Commerce Parkway in the Park.

Miramar Park of  Commerce
“To find the place for our South Florida Wilhelmsen Technical Solutions business in today’s demand growing commercial real estate market was quite a challenge,” said Eugene Parfyonov of Wilhelmsen Technical Solutions.

“Especially if you need a location that is close to cruise industry main players, must have ‘fit to purpose’ ratio of office and warehouse space that requires constant professional and customer friendly support from the property management team. Miramar Park of Commerce and Sunbeam Properties has it all and at a fair and balanced cost.”
  
For a complete copy of the company’s news release, please contact:

Jenna Leon
Pierson Grant Public Relations
954-776-1999, ext. 242


                                                                        

Marina Palms Yacht Club & Residences in North Miami Beach, FL is Two-Thirds Sold Out

  

Neil Forman
 North Miami Beach, FL (April 29, 2014) – Marina Palms Yacht Club & Residences, a luxurious 468-residence waterfront condominium and marina project in North Miami Beach, Fla., is more than two-thirds sold out, the development team recently announced. 

The first tower— which is under construction — is sold out, while sales in the second tower have been brisk.

“We are still offering initial pre-construction pricing on our second tower,” said Marina Palms sales director Michael Internoscia. “But it won’t last long, as we continue to sell our remaining inventory at a steady pace.”

Neil Fairman, president of The Plaza Group, which is co-developing the property with The DevStar Group, said despite significantly more competition in the market today when compared to a year ago, Marina Palms continues to exceed expectations and has been successful largely due to its value proposition.

“We offer extraordinary waterfront living, first class finishes, luxury services and unique amenities,” said Fairman.

Michael Internoscia

“We are also providing the area’s first luxury yachting community in two decades, which will allow people to enjoy the lifestyle whether they own a yacht or not.

“The most attractive attribute of Marina Palms is that you can have all this for considerably less than any other comparable project in Miami. Sophisticated buyers recognize our value as soon as they walk into the sales center.”


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

Todd Templin or Sandra Reichman
Boardroom Communications
954-370-8999
                                   

Englewood Construction Promotes Maribel Bravo to Assistant Controller


Maribel Bravo
CHICAGO,IL  – Lemont, Ill.-based Englewood Construction, one of the country’s leading commercial construction firms, has announced Maribel Bravo, 32, has been promoted to assistant controller.

 “Key employees like Maribel have proven they are capable of taking on more responsibilities as we continue to grow our operations,” said William Di Santo, president of Englewood Construction.

 “Maribel has been with our company for more than 10 years and her dedication to our clients and our business endeavors has been an important contribution to Englewood’s success and market growth. We are always excited when we can promote from within and reward our own.”

 Bravo has more than 15 years of construction industry experience. She joined Englewood Construction in 2003 as an accounting coordinator and has become an integral part of the firm’s activities.

As the company has grown, her role has expanded to include responsibilities pertaining to payroll, regulatory filings, financial statement preparation and as a liaison to outside auditors and accounting firms.

Mary Davolt
 In her new role, Bravo will report to Mary Davolt, who joined Englewood in January as the firm’s new CFO.

 “As someone relatively new to the firm, I’m very glad to have a professional on my staff with a significant amount of history at Englewood,” said Davolt. “Maribel has consistently demonstrated an eagerness to learn more and her attention to detail has been a major asset to our operations.”
  
Bravo resides in Chicago with her husband and three children.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523


                                                                        

Trump SoHo® New York Partners with ViX Paula Hermanny Swimwear to Launch the ViX Valise


Paula Hermanny
NEW YORK, NY (April 29, 2014) – Trump SoHo® New York, the neighborhood’s only AAA Five Diamond rated hotel, is excited to partner with ViX Paula Hermanny, a leader in luxury swimwear, to launch the “ViX Valise,” offered exclusively at The Spa at Trump SoHo this summer season.

 A fashion-forward destination located in the heart of the stylish downtown neighborhood, Trump SoHo continues to embrace its mantra of “Live the Life” by offering a sexy summer salvation for international jetsetters looking to soak up the sun from the hotel’s expansive outdoor deck.

 ViX Paula Hermanny was founded in California in 1997 by Paula Hermanny, a Brazil native, with the intention to make the perfect swimsuit for a “woman who travels the world.” 




A play on the French word for “suitcase,” the ViX Valise is comprised of a tote bag outfitted with all of the resortwear essentials for a summer day spent poolside at Trump SoHo. 

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

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue

Singapore 039190

Marcus & Millichap Launches Three Offices in Canada


John J. Kerin
CALABASAS, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm, announced the opening of three offices in Canada.

The firm now has offices in Toronto, Calgary and Vancouver, according to John J. Kerin, president and chief executive officer. Gary Lucas, a senior vice president of the firm, will oversee its Canadian operations.

          Daniel Holmes will run the day-to-day operations of Marcus & Millichap Real Estate Investment Services Canada Inc., Brokerage in Toronto as regional manager. Chris Anderson will act as Marcus & Millichap’s regional manager in Vancouver. Lucas will manage the Calgary office.

          “Opening offices in Toronto, Calgary, and Vancouver is a natural extension of the unique investment brokerage platform we have perfected over the past 43 years throughout the U.S.,” says Kerin.

Gary R. Lucas
“ Our system of matching commercial properties with the largest pool of qualified buyers will benefit our clients in Canada and the U.S. by expanding their acquisition choices as buyers, and accessing more qualified investors as sellers.

“We look forward to adding value by bringing our industry-leading research, innovative technology and extensive management support to our agents and clients in Canada.”

        “Commercial real estate investors in Canada now have convenient accessibility to a platform with a proven track record of success; not only for investing in Canada’s markets but for investing in competitive markets across the United States as well,” says Lucas.

        “In 2013, Canadians invested roughly $11.2 billion in commercial real estate in the United States where Marcus & Millichap has been established, and successfully expanding, since 1971,” states Holmes.

          In 2013, Marcus & Millichap set a new record in sales volume and transactions. This achievement, along with the milestone of a successful public offering in October 2013, is a testament to Marcus & Millichap’s leading market position and 43-year tradition of results. 

         The Toronto office is located at 20 Queen Street West, Suite 2300. The phone number is 416-585-4646. 

The Calgary office is located at 5920 Macleod Trail SW, Suite 201. The phone number is 587-349-1302. The Vancouver office is located at 601 West Broadway, Suite 400. The phone number is 604-675-5200.

For more information, please visit www.marcusmillichap.com.

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

Gina Relva
Public Relations Manager

(925) 953-1716

Monday, April 28, 2014

Plaza Advisors Announces Sale of The Shoppes at Pelican Landing in Bonita Springs, FL


Jim Michalak
BONATA SPRINGS, FL -- Plaza Advisors is pleased to announce the $12.6 million sale of the Shoppes at Pelican Landing located in Bonita Springs (Lee County) Florida.

This Publix anchored center contains a total of 86,262 square feet of gross leasable area and includes numerous quality tenants including: Anytime Fitness, Publix Liquors, The UPS Store, Toast, and Internal Medicine Associates of Lee County, MD.

The Shoppes at Pelican Landing is situated on a 15.45 acre tract and was constructed in 1997. The plaza contains two separately owned outparcels featuring Bank of America and a Mobil gas station. The asset was 92.3% leased at the time of sale.

Jim Michalak, Mike Cvetetic and Steve Sanders represented the seller in the transaction. The seller and buyer were Pelican Landing LLC and PSM INC, respectively. 

 “From a capital markets perspective, super-market product, particularly Publix anchored, continues to be the most sought after multi-tenant retail investment asset class” states Jim Michalak.

Mike Cvetetic
“Pelican Landing typifies the desired necessity retail product of choice: high sales, expansion component and in some tenant instances below market rental rates”.

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.

The Plaza Advisors Team has over 60 years of real estate experience and has closed more than 450 shopping center transactions exceeding $5.5 billion in value.

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


HFF closes $25.75 million sale of two Publix-anchored retail properties in Atlanta


Richard Reid
ATLANTA, GA – HFF announced today that it has closed the sale of The Village at Millers Chapel and Trowbridge Crossing, two Publix-anchored retail properties totaling approximately 137,000 square feet in Atlanta, Georgia.

               HFF marketed the properties on behalf of Columbia Properties Inc.  BIG Shopping Centers purchased both assets for $25.75 million in a joint venture structure with the seller.  HFF also arranged fixed-rate acquisition financing through Lincoln Financial Group for The Village at Millers Chapel.  BIG assumed the existing life company loan on Trowbridge Crossing. 

               The Village at Millers Chapel is situated on 9.77 acres at 2159 GA Highway 20 in Conyers, southeast of downtown Atlanta.  Completed in 2012, the property has 74,600 square feet that is 98 percent leased to tenants including Publix and Kauffman Tire.

               Trowbridge Crossing is located on a 7.7-acre site at 7507 Roswell Road in the North Atlanta suburb of Sandy Springs.  The property was renovated in 2013 and is 96.4 percent leased to tenants including Publix and the US Post Office . 

               The HFF investment sales 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 | www.hfflp.com
krmurphy@hfflp.com

www.bigcentersusa.com

Lincoln’s Shane Froman Elected to BOMA Southern Region’s Board of Directors

  
Shane Froman

 ATLANTA, GA (April 28, 2014) – Shane Froman, vice president of property management in the Atlanta office of Lincoln Property Company Southeast (Lincoln), has been elected to the Board of Directors of the Building Owners and Managers Association’s (BOMA) Southern Region.

 BOMA’s Southern Region represents the owners and managers of all commercial property types in nine states. It has a total of approximately 3,000 individual members.

“We are extremely proud of Shane’s election to this board,” said Tony Bartlett, senior vice president of Lincoln who oversees the Atlanta office. “He is a true leader within our company, and I know the same expertise and energy that have served our firm and our clients so well will be of tremendous value to the Southern Region’s board.”

“I am both excited and honored by this election,” Froman said. “I look forward to working hard on behalf of the commercial real estate industry in the Southeast.”

Froman oversees all of Lincoln’s property management services in Georgia and has a diverse background in property management, marketing, leasing and business development. Prior to joining Lincoln, he was the director of business development for Angus Systems and, before that, a property manager for Cousins Properties Inc.
  
For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-405-2354

Northbridge Centre in West Palm Beach, FL Wins First Permanent Location for Expanding Floral Business

  
Northbridge Centre, 515 North Flagler Drive, West Palm Beach, FL


WEST PALM BEACH, FL, April 28, 2014 – A family-owned floral design business has selected the 21-story Northbridge Centre, a landmark office property in downtown West Palm Beach, as its first permanent location after spending nearly two years developing a strong clientele through social media, on line and event marketing.

Joydell Brooks
Burst of Class will open in the summer in 2,012 sf on the Olive Avenue side of the 288,233-sf Northbridge Centre at 515 N. Flagler Dr. The reality is the event planning and production company has outgrown its owner's home in Royal Palm Beach, Fla.

"We realized how much more we could do if we had a good location. Northbridge Centre is downtown. The area's great and has potential for our business," says Joydell Brooks, president of Burst of Class LLC. "I had been driving everywhere for months, making calls and speaking to lots of people before I found Northbridge."

The class A Northbridge Centre, owned by Dallas-based Gaedeke Group LLC, caught Brooks' eye for its proximity to more than 80 shops and restaurants in the central business district and the Palm Beach Judicial Center.

Adding to the appeal for Burst of Class' decision is the high-rise environment, which creates the opportunity for new customers from the abundance of office and retail tenants in the building. Kirk Fetter, Gaedeke's vice president of leasing, negotiated the lease directly with the Brooks family.

Kirk Fetter
"I felt very comfortable with Northbridge Centre. Kirk was wonderful, just going through the process with us," Brooks emphasizes. "He was very kind and very approachable."

A native of Jamaica, Brooks learned the business from her grandfather, also a florist. Her island upbringing accounts for the tropical flair in her arrangements.

 Brooks owned a floral shop for a tleast 15 years in her native country before she immigrated in 2001 to the U.S., where she where she became a certified designer through the South Florida School of Floral Design.

Since its 2012 launch, Burst of Class has participated in the Royal Palm Beach Green Market & Bazaar, held October through April, and charity events, including Breast Cancer Awareness.

 Arrangements are made with local and imported flowers. The array of floral design services includes home and office décor, weddings, social gatherings and corporate events.

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


Kirk Fetter, 561-515-7407

Saturday, April 26, 2014

Groundbreaking Event for Windsor Estates Kicks Off New Medical Corridor in Country Club Hills, IL

  


MACK Construction held a groundbreaking event for Windsor Estates, a 200-bed skilled-nursing facility in Country Club Hills, Ill., which was attended by Mayor Dwight W. Welch and MACK COO Jim McClelland, among others. 


CHICAGO, IL – Tinley Park, Ill.-based MACK Construction announced the firm held a groundbreaking event for Windsor Estates, a 200-bed skilled-nursing facility to be built at 18300 South Lavergne Avenue in Country Club Hills, Ill.

The new long-term care facility is expected to be delivered in summer of 2015 and will be occupied by McAllister Nursing & Rehab,  which provides a complete range of rehabilitation treatment including physical, occupational and speech therapy.

The event, held on April 24, 2014, was attended by 75 construction partners, local dignitaries and community stakeholders.
  
“We’re thrilled to bring much-needed long-term care to our community,” said Mayor Dwight W. Welch, the city of Country Club Hills. 

“This facility alone will add 120 jobs to Country Club Hills, and is the first of four new buildings being considered for the site, demonstrating our city’s stability, growth and vision for the future.”

 Planning for the subsequent buildings is underway, which may include a care-giver training school also to be operated by McAllister.
  
Jim McClelland, chief operating officer of MACK Companies, the parent company of MACK Construction, noted, “MACK is very active in Country Club Hills, having bought, redeveloped and managed more than 100 homes in the area over the past five years, so we’re proud to have an opportunity to further strengthen the community with Windsor Estates.” MACK Construction is the general contractor on the project, with Harley Ellis Devereaux serving as lead architect.

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

Julie Liedtke, jliedtke@taylorjohnson.com, 312-267-4521
Kim Manning, kmanning@taylorjohnson.com, 312-267-4527


Alan Baer Joins Richfield Hospitality As Chief Financial Officer


Alan Baer
 DENVER, CO —Richfield Hospitality, a leading hotel management company, today announced that Alan Baer has been named chief financial officer, responsible for directing the day-to-day operational finance activities of the company’s hotel portfolio.

Baer joins Richfield from HRI Lodging where he served as senior vice president finance and  chief financial officer for MetWest Terra Hospitality.

“Alan has a successful track record of financial leadership, and we look forward to him joining us in this critical role,” said Will Loughran, senior vice president sales and revenue strategy. 

 “With significant experience, Alan will play an instrumental role in leading Richfield as it transforms the financial disciplines to provide owners and other stakeholders with the superior operating results they've come to expect.” 

A hospitality industry veteran, Baer spent a significant portion of his career with Kimpton Hotels overseeing accounting, finance, technology, treasury and risk management.  
 For a complete copy of the company’s news release, please contact:

Lauralee Dobbins or Chris Daly
Daly Gray Public Relations
(703) 435-6293

Crossman’s Tracy Worrell Cited as One of Real Estate Forum’s Tomorrow’s Retail Leaders


Tracy Worrell
 ORLANDO, FL -- Who: Tracy Worrell, Senior Leasing Associate for Crossman & Company has been nominated and awarded as one of Real Estate Forum’s Tomorrow’s Retail Leaders.

What: Real Estate Forum’s: Tomorrow’s Leaders, profiles the best and brightest young professionals who are on the track to leadership positions in the next phase of retail in Commercial Real Estate business.

Why:  Tracy has shown her leadership skills through previous deals and community service, as well as with her co-workers and clients.

 To date, Tracy has received several awards including NAIOP’s Rookie of the Year – 3rd Place in 2012, Co-Star Power Broker, 2011, 2012, 2013 and the CFCAR Circle of Achievement 2011.

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


Claire Pagán
Phone  407.581.6223 |


Lido Marina Village, Lido Isle, Newport Beach, CA
Linda Berman
LOS ANGELES, Ca – Commercial real estate investment banking firm George Smith Partners has successfully arranged $51.4 million in bridge financing on behalf of its client, Lido Retail Group, an affiliate of DJM Capital Partners, for the complete renovation of the Lido Marina Village, a 123,391 sf multi-block, mixed use property on Lido Isle in Newport Beach, Calif., according to George Smith Partners’ Principal Steve Bram and Senior Vice President David Pascale.

The property consists of retail, restaurant and office space in 14 separate structures including prime waterfront boutique and dining space featuring spectacular harbor views, along with 47 boat docks and charming common areas for strolling, shopping and outdoor entertainment.   The property stretches from the waterfront, across a public street and walkway and includes street front retail and a small multi-tenant office building. DJM’s renovation will create an integrated village feel across the entire project.  

Heather Hollister
Eric Sahn, CFO of DJM Capital Partners, noted that these property attributes were a major factor in the decision to acquire the asset.  “What attracted us to this investment was the physical property itself and the incredible location on Newport Harbor,” he said. 

“These unique older buildings, in good condition, with desirable, spacious floor plans will serve as the foundation for a great new project.”

 Linda Berman, DJM’s SVP of Corporate Strategy is overseeing the rebranding of the property.   She was previously VP of Corporate Brand Strategy for Caruso Affiliated, working on the Grove, The Americana at Brand and other specialty projects within the Caruso portfolio.

Leasing will be overseen by Heather Hollister, SVP of Leasing for DJM.  Previously with The Irvine Company, she managed leasing for several properties, including Irvine Spectrum and Fashion Island.

Employing a highly selective, curated approach to Lido’s merchandising strategy, numerous high-end specialty restaurants and boutiques have already expressed interest in Lido Marina Village’s unique location and opportunity.

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

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Friday, April 25, 2014

Marcus & Millichap Arranges Sale of Eight-Unit Apartment Community in Tampa, FL

  
Inca Drive Apartments, Tampa, FL

  
Francesco Carriera

TAMPA, FL, April 25, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Inca Drive Apartments, an eight-unit apartment community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $395,000.

Francesco Carriera and Michael Regan, vice presidents investments and Joshua Teplitzky, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor. 

The listing agents also procured the buyer of the property, a private investor based in Brandon, Florida.

Inca Drive Apartments were built in 1972 and are located at 8602 Inca Drive in Tampa, Florida.  The property consists of four, one-story buildings situated on approximately 1.46 acres of land. 

Michael Regan
The buildings are comprised of eight, two-bedroom/one-bathroom units with 800 rentable square feet.  Most of the interiors of the units have been renovated with vinyl tile flooring or ceramic tile. The roofs on all buildings were replaced in 2013.  Amenities include washer and dryer connections in all units.

“This property was an off-market transaction,” says Teplitzky. “The property was attractive to the buyer since it was completely renovated within the last 18 months and the rents were under market by approximately $100.”

“There was also over half an acre of developable land included in the sale,” adds Teplitzky.


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


Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700