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 |

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

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 d├ęcor, weddings, social gatherings and corporate events.

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

Kirk Fetter, 561-515-7407