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

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