Monday, May 19, 2014

HFF arranges construction financing and joint venture equity for Kirby Grove mixed-use development in Houston’s Upper Kirby area

Rendering of planned Kirby Gove and Avenue Grove office, retail and mulifamily development
Upper Kirby neighborhood, Houston, TX

Colby Mueck
HOUSTON, TX – HFF announced today that it has arranged construction financing and joint venture equity for the development of Kirby Grove, a to-be-built, Class A office, retail, and multifamily development in Houston’s Upper Kirby neighborhood.

               HFF worked exclusively on behalf of the borrower, Midway Companies, to secure construction financing through Amegy Bank for the Kirby Grove Office Tower [office] and Cadence Bank for Avenue Grove [multifamily]. 

Institutional investors advised by J.P. Morgan Asset Management provided joint venture equity for both the office and multifamily components. 

               Due for completion in 3Q 2015, Kirby Grove Office Tower will be built to LEED Silver certifications and will feature 224,000 square feet of office space, and 24,000 square feet of ground floor restaurant and retail space.

 Avenue Grove is set to be delivered in 4Q 2015 and will feature 270 units situated over parking.  The office and multifamily projects are being constructed on sites adjacent to Levy Park, which is currently being redeveloped by the Upper Kirby District.

Scott Galloway
               The HFF team representing Midway Companies was led by director Colby Mueck and executive managing director Scott Galloway.

               Houston-based Midway is a privately-owned, fully-integrated real estate development and investment firm that has provided the highest level of quality, service and value to their clients and investors for 40 years. 

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 |

HFF arranges $27.2 million construction financing for build-to-suit industrial facility in Woodbridge, NJ

Jim Cadranell

 FLORHAM PARK, NJ – HFF announced today that it has arranged $27.2 million in construction financing for 275 Blair Road, a 190,000-square-foot, build-to-suit refrigerated warehouse and distribution facility in Avenel, Woodbridge Township, New Jersey.

HFF worked on behalf of the borrower, a joint venture between Advance Realty and F. Greek Development, to secure the 24-month, construction loan through Wells Fargo Bank. 

275 Blair Road is fully leased to Preferred Freezer Services, one of the largest and fastest growing freezer warehouse operators in the nation. 

Jon Mikula
The state-of-the-art, customized cold storage building will be situated on a 9.33-acre site located near Interstate 95/NJ Turnpike, Newark Liberty International Airport and the Port Newark/Elizabeth Marine Terminal.

The HFF team representing the borrower was led by managing director Jim Cadranell along with senior managing director Jon Mikula and associate director Michael Lachs.

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 |

Lee & Associates’ Atlanta Office Hires Seven Directors

Allen Brown
ATLANTA, GA May 19, 2014) — Lee & Associates’ Atlanta office has recently hired seven directors with specialties in the office, industrial, retail and land sectors. 

Jim Simpson
Adam Simpson
 The new hires include: Allen Brown, a senior director specializing in office properties; Jim Simpson, a senior director focusing on office properties; Adam Simpson, a director specializing in office and retail properties as well as land sales and site selection; Edward Hales, a director focusing on office properties; Marty Pinover, an executive managing director/principal specializing in industrial properties; Michael Dahmer, a senior director focusing on retail properties; and Carl Bolch III, a senior director specializing in real estate development and site selection.

Michael Dahmer

Edward Hales
“We are bullish on the Atlanta commercial real estate market and are committed to building the best team possible to serve our clients,” said Scott Crooks, chief financial officer of Lee & Associates’ Atlanta office.

 “These new directors will strengthen our firm further as we continue to ramp up activity in Atlanta and throughout the Southeast.”

Jim Simpson, Brown and Hales were formerly with Transwestern. Adam Simpson joined the firm from Kim King Associates.

Carl Bolch III
 Pinover and Dahmer joined from Newmark Grubb and Bolch III from Marcus & Millichap. Many of the company’s motivated shareholding brokers and professional staff members have worked together in the Southeast area for more than 20 years.

As the Atlanta office of a highly respected national firm, the Atlanta team capitalizes on Lee & Associates’ distinguished reputation as we continue to build long-term client relationships through customized solutions tailored to each clients’ specific real estate needs. 

Marty Pinover
Lee & Associates’ Atlanta office has closed more than 1,700 transactions totaling approximately $1.8 billion.

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)

Trepp and ICSC Release Center Benchmarks Survey Results and Data

Galleria Shopping Center, Atlanta, GA
New York, NY – May 19, 2014 – Trepp LLC, a leader in commercial real estate information and analytics, and the International Council of Shopping Centers (ICSC) announced today the release of the Center Benchmarks survey results.

The Center Benchmarks survey collected 2012 income and expense data from shopping centers in the United States and was developed to provide commercial real estate practitioners with a reliable source for evaluating shopping center performance.

Over 900 Benchmark Reports are available for download, segmented by state, MSA, submarket, and shopping center type. The reports cover data from 43 states, 150 MSAs, and 123 submarkets, and are divided into eight shopping center types.

 Each Benchmark Report includes data on Income and Expenses, Revenue and NCF, and Operating Expenses, as well as Tenant and Sales data when available. 

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

Joe McBride, Research Analyst
Trepp LLC

Great Ink Communications
Eric Gerard, Lindsay Church

NAP Launches SlideShare Series on “The Future of Retail” at ICSC

Mark Toro

 ATLANTA, GA  (May 19, 2014) – The Secret Sauce, the first SlideShare in a series exploring the future of retail from North American Properties (NAP), argues that chef-driven restaurants are increasingly essential to the success of retail and mixed-use projects.

 North American Properties - Atlanta launched The Future of Retail series today at the International Council of Shopping Centers (ICSC) RECon Convention in Las Vegas.

The Secret Sauce can be downloaded here. 

 “The new-class consumer is a foodie who wants unique local experiences,” said Mark Toro, managing partner at NAP.

 “Landing the hot local chefs isn’t always easy or cheap, but the smart developers and operators are doing it. Great restaurants will be one of the essential ingredients in successful retail in the future.

Ron Pfohl
“We are excited to roll out The Future of Retail SlideShare series during the next six months and elevate the dialogue about what the new-class consumer wants and what retailers and retail developers must do to compete.”

 NAP is not just offering up theories. It is betting on the power of chef-driven restaurants. 

It has secured six of the Southeast’s hottest chefs for Avalon, a $600 million mixed-use development that will open in October in Alpharetta, Ga. 

Those restaurateurs include Ford Fry, Shaun Doty, Steve Palmer, Brian Lewis, Ciaran Duffy and Giovanni Di Palma.

 “We worked hard to secure these deals because the top retail tenants were demanding it and because we know that our consumers want it,” said Ron Pfohl, director of leasing at NAP.

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

 Suong Nguyen
The Wilbert Group
404-343-0637 (O)
 678-642-4301 (C)

Starwood Hotels & Resorts introduces The Luxury Collection Brand to New Mexico with La Posada de Santa Fe


Joe Smith, (center) founder of 1754 Properties which owns La Posada de Santa Fe, a Luxury Collection Resort and Spa, is joined by  Travis Vigil, Tesuque Tribal Council Member (left) and performers from the Tesuque Pueblo at the celebration commemorating the hotel becoming New Mexico’s first member of Starwood’s distinctive ensemble of unique, authentic hotels.  

 SANTA FE, NM  (May 19, 2014) - La Posada de Santa Fe, a Luxury Collection Resort & Spa, today became New Mexico's first Luxury Collection hotel, joining the brand’s prestigious ensemble of 86 world-renowned luxury hotels and resorts, with a celebration inspired by Santa Fe's unique southwestern cultural influences.

 "Each Luxury Collection hotel is a singular reflection of its place in the world and its place in history, and La Posada de Santa Fe perfectly represents those values, having played a major role in the evolution of Santa Fe as an art community and a tourist destination," said Joseph Smith, founder, 1754 Properties, which owns the hotel. 

Monique Jacobson
"When Abraham Staab built his magnificent mansion here in 1882, he did so with the intention of welcoming friends and family to this remote Southwestern outpost that he and his wife, Julia, so adored. 

“The Staabs established a tradition of elegant hospitality that continues to guide and inspire our operations to this very day. 

“We're certain that by joining The Luxury Collection, La Posada de Santa Fe will be able to reach a broader audience of sophisticated travelers who will not only appreciate the authentic and original experiences that make this hotel and destination so special, but also the resort's lush, six acre campus, luxurious spa and award-winning restaurant and bar."

 "We're excited for La Posada to keep their authentic identity while gaining attention as part of this exclusive brand," said Monique Jacobson, New Mexico's Cabinet Secretary of Tourism. "This type of partnership brings new awareness to New Mexico as an upscale travel destination and ultimately benefits the entire state."

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

Lauralee Dobbins
Daly Gray, Inc

On Site Contact:
Marcia Sky
La Posada de Santa Fe, a Luxury Collection Resort & Spa

For more information about La Posada, a Luxury Collection Resort & Spa, please visit

Stirling Sotheby’s International Realty Named Marketing Agents For $799,000 Renaissance at Lake Ivanhoe Condominium in Orlando, FL

Marisol Santiago
ORLANDO, FL --- Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents for a three-bedroom, three-and-one-half bath luxury condominium overlooking Lake Ivanhoe at Renaissance at Lake Ivanhoe Condominium.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said International Luxury Homes Specialist Marisol Santiago with Stirling Sotheby’s Dr. Phillips Marketing Center serves as listing agent for the property.

With 3,129 square feet of living space--substantially larger than the average new home--the Renaissance condominium is priced at $799,000, Soderstrom said.

“That’s significantly lower than comparable homes in the downtown Orlando area,” Soderstrom said.

The residence was recently renovated and features a spacious custom kitchen with cherry finished cabinetry, granite countertops, built-in SubZero® appliances, and a center island. The kitchen opens onto a spacious family room with private lakeside verandah that measures 13' by 31' for a panoramic viewing.

Renaissance at Lake Ivanhoe Condominium
Downtown Orlando, FL
Access to the professionally decorated residence is provided through a private elevator.

The Renaissance at Lake Ivanhoe Condominium offers personalized concierge services, a billiards room, an audio visual room, a fitness center, a grand ballroom, and a spacious pool area. 

To view a video of the property, go to

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142