Friday, October 31, 2014

NAI Realvest Negotiates New Industrial Lease for Construction Supplier in Altamonte Springs, FL

  
Kimberly Manson

 ORLANDO, FL – NAI Realvest recently negotiated a lease agreement for 14,910 square feet of industrial space at 500 Plumosa Ave. off Ronald Regan Blvd. in Altamonte Springs.

The NAI Realvest team of Jeffrey Tanner and Kimberly Manson represented the landlord, DDS Plumosa, LLC based in Lisle, IL.   

The tenant, Atlantic Construction Fabrics, Inc. of Orlando was represented by Harry Champ of Coldwell Banker Commercial NRT.

The tenant is a supplier of geosynthetic solutions for the construction industry.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


NAI Realvest negotiates Three New Industrial Leases totaling more than 7,800 Square Feet at Hanging Moss and Airport Centers in Orlando, FL

  
Mary Frances West

 ORLANDO, Fla. – NAI Realvest recently negotiated three new industrial leases totaling 7,875 rentable square feet at Hanging Moss CommerCenter and Regional Airport Center in Orlando. 

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp represented landlord Hanging Moss SPE, LLC in two lease agreements -- one for 2,000 square feet in Suite 560 at 6100 Hanging Moss Rd. 

Engineering Support Personnel is the new tenant who was represented by Mary Frances West, senior broker associate at NAI Realvest.

For the same landlord Heidrich and Kemp negotiated a new lease for 1,875 square feet at 6124 Hanging Moss Rd. Suite 350.  GDR Garage Door Repairs Co. is the new tenant. 

At 8350 Parkline Blvd. Unit 7 in the Regional Airport Center, Heidrich and Kemp negotiated a lease agreement for 4,000 square feet on behalf of the Columbus, Ohio-based landlord Parkline Properties, LLC and the new tenant is Gulf Western Roofing & Sheet Metal, LLC.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


NAI Realvest negotiates sale of office condominium for $200,000 at Lake Mary City Center in Lake Mary, FL

  
Kristen Kemp
ORLANDO, FL — NAI Realvest recently negotiated the $200,000 sale price for a 1,827 square foot office condo at 2500 W. Lake Mary Blvd. in the Lake Mary City Center in Lake Mary. 

Michael Heidrich, principal at NAI Realvest and Kristen Kemp, associate,  negotiated the sale of Suite 208 at the center representing the local seller Horwath & Associates LLC.  

The buyer, 2241 Lake Irish Pointe Holdings, LLC, a privately held investment firm purchased the office condominium.    Michael Palombi of Weichert Realtors Hallmark Properties represented the buyer in the transaction.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


HFF Hotel Group closes sale of Hotel Urbano in Miami, FL





Max Comess
MIAMI, FL – HFF announced it has closed the sale of Hotel Urbano at Brickell, a 65-key boutique hotel located on historic Brickell Avenue in Miami, Florida. 

HFF marketed the property on behalf of the seller, an affiliate of The Carlyle Group and Rodblu Investment Fund 1.  Baywood Hotels purchased the offering free and clear of debt and will assume property management.

               The property is located at 2500 Brickell Avenue and occupies an expansive parcel with frontage on both Brickell and South Miami Avenues in an area commonly known as “Millionaires’ Row”.

 Completed in 1961 and completely redeveloped in 2010, the boutique hotel features rotating art exhibits from up-and-coming Miami artists, three meeting spaces totaling 1,650 square feet, the Bistro Urbano restaurant and bar, an outdoor resort pool surrounded by cabanas equipped with flat-screen televisions, fitness center and business center.

 The hotel was offered with valuable development rights allowing for a 64-room (12,699 square feet) expansion on the site.

Daniel C. Peek
               The HFF investment sales team representing the seller was led by director Max Comess, senior managing director Daniel C. Peek and associate directors Cyrus Vazifdar and Scott Wadler.

“The opportunity to acquire Hotel Urbano and its valuable urban development rights was aggressively pursued by investors from the U.S., Latin America and Asia,” Comess said.  

“The high physical quality of this hotel combined with a flexible expansion opportunity appealed to Baywood, who has emerged as one of the most active hotel developers in Miami today.”

“The Hotel Urbano transaction provides further evidence to the evolution of Miami as a true gateway market,” Peek added. 

“The dramatic attraction of hotel investors to the area that began on South Beach has spread to downtown, the Brickell corridor, Coral Gables and the entire metropolitan area.”

Cyrus Vazifdur
               HFF’s Hotel Group has been active in the sale and financing of similar hotels across the country with a focused concentration in South Florida. 

The closing of Hotel Urbano comes on the heels of several other notable boutique hotel transactions arranged by HFF this year including The Raleigh Hotel on Miami Beach, il Lugano on Ft. Lauderdale Beach, the Islamorada Resort in the Florida Keys, and the Inns of Sanibel Portfolio on Sanibel Island.


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 arranges $9.97 million financing for Class A specialty center in the Brentwood section of west Los Angeles, CA


Kevin Mackenzie
IRVINE, CA – HFF announced it has arranged $9.97 million in first lien financing for the acquisition of a Class A, 11,990-square-foot specialty center in the affluent Brentwood area of West Los Angeles, California.

               HFF worked exclusively on behalf of GPI Companies to secure the loan through Los Angeles-based City National Bank.  Loan proceeds were used to acquire the property. 

The upscale specialty center is situated on a 20,022-square-foot lot at 11770 San Vicente Boulevard near the intersection of San Vicente Boulevard and Barrington Avenue in the heart of Brentwood. 

The property inhabits a prominent corner lot with more than 250 feet of frontage on San Vicente with an average traffic count of more than 35,000 vehicles per day.  Additionally, the property has an adjacent 29-space parking lot. 

Greg Brown
The center is 100 percent leased to Gaucho Grill, Pizzicotto Restaurant, First Republic Bank, Peet’s Coffee, Subway, Chase Bank ATM and Radco RE.

The HFF team representing the borrower was led by senior managing director Kevin Mackenzie, associate directors Greg Brown and Jeff Sause and real estate analyst Jamie Kline.


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 Long Island City, NY development site


Andrew Scandalios
NEW YORK, NY – HFF announced it has closed the sale of a commercial development site located at 11-55 49th Avenue in Long Island City, New York. 

               HFF marketed the property on behalf of the seller and procured the buyer, Criterion Group LLC.

               The development site is located at 11-55 49th Avenue adjacent to the 7 Train in the Hunter’s Point neighborhood of Long Island City. 

This places the property a short distance from the Queens Midtown Tunnel providing access to Manhattan across the East River.  The site is currently a 26,415-square-foot vacant parking lot and it is zoned for 132,074 square feet of residential or commercial development.

               The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios, managing director Jeff Julien, director Rob Hinckley and associate director David Fowler.

               Criterion Group LLC and its affiliates, based in New York, invest in diversified property offerings including residential development and acquisitions, industrial and distribution, retail, office and value added repositionings.


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 800 17th Street in Washington, D.C.


800 17th Street, Washington, DC


John Pelusi
WASHINGTON, D.C. – HFF announced it has closed the sale of 800 17th Street, a 364,502 square-foot, LEED® Platinum, trophy office building located two blocks from the White House in Washington, D.C.’s central business district. 

               HFF marketed the property on behalf of the seller, The PNC Financial Services Group and procured the buyer, a joint venture between Norges Bank Investment Management and TIAA-CREF.

800 17th Street was completed in 2010 to partially accommodate PNC Bank, N.A.’s regional headquarters. 

The 12-story building features a corner location with three sides of floor-to-ceiling glass offering views of the Washington Monument, Jefferson Memorial, Potomac River and Farragut Square. 

A top-of-the-line amenity package includes a roof top deck and sky garden, private 11th floor balcony, a 7,000-square-foot fitness center and a private two-level parking garage. 

Stephen Conley
In addition to PNC as the lead tenant, Holland & Knight, Analysis Group and Haynes & Boone also occupy space in this prominent office tower. 

The property is located at 800 Seventeenth Street, NW, just two blocks from the White House and proximate to many federal buildings and agencies such as the New and Old Executive Office Buildings, U.S. Chamber of Commerce, Veterans Administration and Department of Treasury.

Tenants have access to mass transit via two Metro stations – Farragut West (Orange, Silver & Blue lines) and Farragut North (Red Line), providing access to the greater Washington, D.C. area. 

The HFF investment sales team representing the seller was led by executive managing directors John Pelusi and Stephen Conley, senior managing directors Andrew Weir, Jim Meisel, and Dek Potts, associate director Matt Nicholson and senior real estate analyst Dave Baker.

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 places $56.4 million construction loan for office development in Seattle’s North Lake Union submarket


Bruce Ganong
SAN FRANCISCO, CA – HFF announced it has arranged a $56.4 million construction loan for the development of NorthEdge, a to-be-built, Class A office property totaling 212,000 square feet in the North Lake Union submarket of Seattle, Washington.

               Working on behalf of the borrower/developer, Touchstone Corporation and AIG Global Investment Group, HFF placed the three-year construction loan with Bank of the Ozarks.

               Due for completion in March 2016, NorthEdge will be a four-story office development with 208,000 square feet of office space, 4,000 square feet of retail and a two-level, 314-space subterranean parking garage. 

The architecture seeks to appeal to tech tenants with exposed concrete, open ceilings with heights reaching 17’, and full-height glass windows overlooking Lake Union and the downtown Seattle skyline.

 The property is located at the southeast corner of North 34th Street and Woodlawn Avenue in the popular Fremont neighborhood of the North Lake Union submarket across Lake Union from downtown Seattle.  This desirable submarket is home to companies such as Google, Adobe and Tableau Software. 

Rendering of Planned NorthEdge Office Property
Seattle, WA
               The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate Brandon Roth.

               “Once complete, NorthEdge will be the premier Class A office development in a severely supply constrained submarket of Seattle,” Ganong said. 

  “The rapidly expanding tech companies in the area are facing virtually no available office space, which will spark significant leasing interest in NorthEdge.”



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 arranges $10.32 million financing for The Plaza at Hannibal Square in Winter Park, FL


Michael Weinberg
ORLANDO, FL  – HFF announced it has arranged a $10.32 million acquisition financing for The Plaza at Hannibal Square, a 71,330-square-foot, Class A, mixed-use retail, office and multi-housing asset in the affluent Orlando suburb of Winter Park, Florida.

               HFF worked on behalf of the borrower, Owens Realty Capital, to secure the 10-year fixed-rate loan originated by Prudential Mortgage Capital Company. Greg Krafcik, a director in Prudential Mortgage Capital’s Atlanta office, led the origination.  The borrower used the loan to purchase the asset from its equity partner.

               The Plaza at Hannibal Square consists of two buildings situated on 1.22 acres at 362 South Pennsylvania and 444 West New England Avenues, less than a few blocks from the famed Park Avenue in Winter Park and five miles from downtown Orlando.  

The buildings contain 25,210 square feet of retail and 20,242 square feet of office space and 31 multi-housing units, all of which are more than 90 percent leased.    Completed in 2009, the four-story South Pennsylvania building includes a five-story garage. 

Whitaker Leonhardt
The HFF team representing the borrower was led by director Michael Weinberg, associate director Whitaker Leonhardt and real estate analyst Michael Brewster.

”Owens Realty Capital did a masterful job purchasing the asset well below its original development cost and then added a tremendous amount of value through their skilled lease-up and management,” Weinberg said.

 “This generational asset commanded overwhelming attention from debt capital providers. Both the client and the lender executed the purchase and financing flawlessly.”


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 named to market for sale Class A office tower in Houston’s Galleria submarket


Jeffrey Hollinden
HOUSTON, TX – HFF announced it has been named to market for sale Five Post Oak Park, a 567,264-square-foot, Class A office tower in Houston’s Galleria submarket.

               HFF is marketing the asset on behalf of the seller, Shorenstein.  The property is listed without a formal asking price.

               Five Post Oak Park is situated on 3.6 acres at 4400 Post Oak Parkway just to the east of Loop 610 between Houston’s Galleria and River Oaks areas. 

The property is a short distance from Uptown Park, The River Oaks District, Highland Village and BLVD Place, and is only seven miles from downtown Houston. 

The 28-story asset also includes a 1,673-space parking garage.  Tenants at the 97.8 percent leased tower include Amegy Bank, Willbros U.S., UBS Financial and Midstates. 

               The HFF investment sales team representing the seller is led by senior managing directors Jeff Hollinden and Robert Williamson. 

Robert Williamson
               “Five Post Oak Park is an ideal investment for both ‘value-add’ and ‘lease-to-core’ investors as there is significant upside potential through re-leasing 30 percent of the building when Amegy Bank’s below market lease expires,” said Hollinden. 

“Shorenstein did a remarkable job executing their capital improvement plan to the property during the course of ownership, which has solidified the building’s position at the top of the Galleria evidenced by its occupancy at 98.1%.

“Today, Five Post Oak Park is a prestigious office project located in the Galleria submarket of Houston, which has one of the best office markets and strongest regional economies in the country.”

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

Dallas Cowboys and Omni Hotels & Resorts Partner to Build Hotel at Cowboys’ Headquarters in Frisco, TX


Stephen Jones
FRISCO, TX  – The Dallas Cowboys and Omni Hotels & Resorts are partnering to develop a new hotel at the future site of the Cowboys World Headquarters in Frisco, Texas.

 The luxurious Omni property will be one of the only full-service upscale hotels in the area, and serve as a cornerstone of the mixed-use development, which will be anchored by the Dallas Cowboys World Headquarters and Frisco’s Multi-Use Event Center.

The publicly owned, 12,000-seat multipurpose event center will be used by the City of Frisco and Frisco Independent School District (FISD) to host various activities including athletic competitions, graduations and other special events. 

The Dallas Cowboys will also use the event center as its training facility.

 “We could not be more proud of our partnership with Omni Hotels & Resorts, a Dallas-based company with a proven track record of successful ventures nationally, including two projects right here in the Metroplex – the Omni Dallas and Omni Fort Worth Hotels,” said Stephen Jones, chief operating officer and executive vice president for the Dallas Cowboys.

Omni is one of the country’s top-rated luxury hotel brands, popular with business travelers and vacationers, alike. 

As one of the most recognizable and popular brands in the world ourselves, it makes perfect sense that we would team up to bring to life this extraordinary development.”

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

Anne Tramer Brownlee                                                     972.871.5625                                                                     
atramer@omnihotels.com