Wednesday, June 4, 2014

Greg Matus Joins Franklin Street as Regional Managing Partner of Broward and Palm Beach Counties

Greg Matus
MIAMI, FL (June 4, 2014) — Commercial real estate heavy-hitter Greg Matus has joined Franklin Street, a full-service commercial real estate firm based in Tampa, as regional managing partner. 

He specializes in retail investment sales and will focus on the Broward and Palm Beach Counties in South Florida. Prior to joining Franklin Street, Matus ran Marcus & Millichap’s Fort Lauderdale office as the vice president/regional manager of the company’s Real Estate Investment Services division.

 “We are extremely pleased to add a well-connected professional like Greg to our team,” said Deme Mekras, regional managing partner of the Miami Office. “He is a great fit for our organization and I look forward to partnering with him to expand the company’s presence in South Florida.”

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

Todd Templin
Boardroom Communications


Avison Young completes $6.65-million sale of office building in Mission Viejo, CA

Dan Vittone

 Irvine, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has completed the $6.65-million sale of a HighPark Corporate Center, a class A office building totaling 37,579 square feet (sf) in Mission Viejo, CA.

 Avison Young Principals Dan Vittone and Alan Pekarcik, based in the company’s Irvine office, along with Trent Walker of Voit Real Estate Services represented the seller, Madero LLC & Wyocal, LLC. The buyer, CK HighPark, LLC was in a 1031 exchange and was represented by Bratun Real Estate.

 The transaction closed at a 7.25% capitalization rate and a price of $177 per square foot (psf), the second-highest square footage price for an office building sale in Mission Viejo since the recession. (Prudential Insurance sold Mission Ridge, a two-building, class A project that fronts Interstate 5, for approximately $237 psf in August 2013.)

Alan Pekarcik
 “Investors are seeking out properties such as this one in the south Orange County market because of the high barriers to entry for new development, strategic location, dense population and strong income demographics,” comments Vittone.

“This market boasts a 10.9% direct vacancy rate for buildings 20,000 sf and larger, and with no competitive product under construction, rents are forecasted to continue to increase.”

Built in 1986, the two-story building is situated on 1.87 acres at 23351-23361 Madero. It is 93% occupied by four tenants and is located within HighPark, a 112-acre master planned, mixed-use business park.

 HighPark Corporate Center’s largest tenant is Holt Integrated Circuits, which occupies 58% of the building and has been a tenant for the past 16 years.

The well-located asset is within the heart of south Orange County between Interstate 5 and the 241 Corridor and is near restaurants, banks, Mission Viejo Hospital, and the Shops of Mission Viejo Mall.

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

Darcie Giacchetto
D.G. Communications, Inc.

Trepp to Integrate Kroll Rating Agency CMBS Surveillance Reports

Tom Fink
(New York, NY – June 3, 2014) – Trepp, LLC the leading provider of information analytics and technology to the CMBS, commercial real estate, and banking markets, today announced an agreement with Kroll Bond Rating Agency (KBRA) to integrate its newly released CMBS surveillance product KCP (KBRA Credit Profile Reports) with the Trepp product suite.

 According to the agreement, Trepp will provide authorized clients access to KBRA credit reports through its products.

“As Trepp looks to enhance its product suite with more comprehensive third-party news and analysis, KBRA’s monitoring service is a natural addition to our platform,” said Tom Fink, Senior Managing Director at Trepp. “KBRA’s reports offer an additional view of outstanding CMBS and their underlying loans,” Fink said.

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

Joe McBride, Research Analyst
Trepp LLC

Eric Gerard, Lindsay Church
Great Ink Communications

Kate Kennedy, KBRA, 646-731-2348

$15.75 Million Retail and Office Plaza Hits the Market in Delray Beach, FL

Linton International Plaza, Delray Beach, FL

 DELRAY BEACH, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced that it is the exclusive advisor presenting for sale Linton International Plaza, a five-building, 85,383-square-foot retail and office plaza in Delray Beach, Fla. The listing price is $15,750,000.

            Douglas K. Mandel, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, is representing the seller.

            “Linton International Plaza is located along the rapidly growing Linton corridor with proximity to several new retail projects including Delray Village Shoppes and Delray Place, which is anchored by Trader Joe’s,” says Mandel.

Douglas K. Mandel
“Linton Boulevard is one of the hottest retail corridors in Palm Beach County and home to some of the most coveted brands, such as Fresh Market, Publix, Sports Authority, Starbucks, Chipotle, PetSmart, Home Depot, Target, Staples and Mercedes Benz.”

            Linton International Plaza has two buildings on its east side and three on its west side. 

The east side structures are 660 Linton Blvd., which features ground floor retail space, second floor office space and tenants that include Subway, Palm Beach Gym and Miller Physical Therapy; and 710 Linton Blvd., a semi-detached, single-story restaurant occupied by the Grand Tavern eatery and sports bar. 

On the west side, the structures are 800 Linton Blvd., a stand-alone outparcel occupied by a Pet Supplies “Plus,” which is on a 20-year lease that ends in 2023; 900 Linton Blvd., a two-story office building and 950 Linton Blvd., a stand-alone Pollo Tropical restaurant.

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

Gina Relva
Public Relations Manager
(925) 953-1716