Tuesday, March 31, 2015

NAI Realvest closes two new leases for industrial space totaling 12,000 square feet on Premier Row in Orlando Central Park

Jeff Bloom
ORLANDO, FL --- NAI Realvest recently negotiated two new leases for a total of 12,000 rentable square feet of industrial space in Orlando Central Park.    

 Jeff Bloom, senior director at NAI Realvest, and associate Megan Minter brokered the transactions representing St. Cloud-based Moon’s Saw and Tool, Inc., the landlord, and both local tenants.  

MIC PCB Assembly Services, a microelectronics firm, leased 6,500 square feet at 1620 Premier Row, and Orlando Novelty leased 5,500 square feet at 1624 Premier Row.

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

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


NAI Realvest Negotiates New Retail Lease for 7,450 square feet in Apopka, FL

Kevin O'Connor
ORLANDO, FL – NAI Realvest recently negotiated a new lease agreement for 7,450 rentable square feet of retail space at 933 S. Orange Blossom Trail in Apopka. 

 Kevin O’Connor and Matt Cichocki, principals at NAI Realvest and Associate Mitch Heidrich negotiated the lease representing the local Landlord 1st Source Cabinets, LLC. 

 The tenant, Universal Church Corp. headquartered in Newark, N.J., intends to use the property for an Apopka branch of The Universal Church.   The tenant was represented by Rosana Wolters of Wolters International Realty.

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

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


NAI Realvest Brokers $750,000 sale of Kissimmee, FL Medical Office Building

George Viele
ORLANDO, FL – NAI Realvest recently negotiated the $750,000 sale of a 12,304 square foot multi-tenant, medical office building located at 1502 Village Oak Lane off Orange Blossom Trail in Kissimmee.  

NAI Realvest Associate George Viele negotiated the transaction on behalf of the seller, Nashville-based Osceola Regional Hospital, Inc.   

The buyer is Village Medical Plaza, LLC, an Orlando-based investor who purchased the building that was built in 1990 and 20 percent occupied at the time of sale.  

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

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

Monday, March 30, 2015

Lisbeth Yori to Lead Sales Effort at Maine's Cliff House Resort and Spa

Lisbeth Yori

OGUNQUIT, ME and SHELTON, CT - - March 30, 2015—Officials of New Castle Hotels & Resorts, a leading hotel owner, operator and developer, today announced that Lisbeth Yori of Hampton, N.H., has been named director of sales and marketing of Maine's historic 166-room resort, The Cliff House Resort and Spa, a Rockbridge portfolio hotel, which reopens next month for its 143rd season. 

Most recently, Yori was the corporate area sales manager for Ocean Properties, representing five Maine hotels and resorts.

Gerry Chase
"Lisbeth is a proven sales talent who has risen through Starwood's sales and marketing ranks, exceeding goals and building top line business for every hotel she represented," said Gerry Chase, president and COO of New Castle.

 "The Cliff House has so much to offer corporate and leisure groups, and I'm certain that Lisbeth will do an exceptional job of introducing the resort beyond its traditional base."

Yori came to Maine from the Sheraton Downtown Denver Hotel where she was the director of group sales, responsible for a team of 13 and overall rooms revenue in excess of $47 million. She brings 25 years of sales and catering management experience to her new role.

"The Cliff House is an extraordinary hotel with a fascinating history and limitless potential," said Yori.  

"I have no doubt that its best days are ahead, and I look forward to bringing new groups and creative ideas to the resort and meeting the legacy guests who have made The Cliff House their vacation and special event destination for generations."

The Cliff House Resort and Spa atop Bald Head Cliff in Ogunquit, ME

            The Cliff House Resort and Spa is situated on 70 oceanfront acres high atop Bald Head Cliff in Ogunquit, on the southern coast of Maine. Each of the 166 guest rooms features a large, picture window and deck with views of the coast and the ocean. 

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

Lauralee Dobbins
Daly Gray, Inc.

Miramar Park of Commerce in Miramar, FL Announces Over 400,000 Square Feet of Lease Renewals

Maridee Bell
MIRAMAR, Fla. – Miramar Park of Commerce, the largest locally owned and managed Business Park in South Florida, has announced more than 400,000 sq. ft. in lease renewals. 

The announcement comes as the Park is celebrating its 30th anniversary.

The following companies have renewed leases in the Miramar Park of Commerce:

Coaster Company of America has renewed its lease for 250,441 sq. ft. of office, showroom and warehouse and distribution space at 10700 Enterprise Way. 

Caterpillar Inc. has renewed its lease for 45,000 sq. ft. of office and warehouse space at 3450 Executive Way.

Ryan Goggins
Bunzl Distribution Southeast, Inc. has renewed its lease for 76,326 sq. ft. of office, warehouse and distribution space at 9702 Premier Parkway.

BlueStar Latin America, Inc has renewed 25,238 sq. ft. at 3561 Enterprise Way.

Records storage and management company Patterson Pope has renewed its lease for 4,503 sq. ft. of space at 10340 USA Today Way.

“Our high renewal rate is a testament to the leasing and property management team approach we take to accommodate and meet the needs of tenants,” said Maridee Bell, vice president of Sunbeam Properties, developer of the Park.

Miramar Park of Commerce, Miramar, FL
“The aesthetics of the Park and responsiveness of property management ensure that tenants are happy with their space and the environment in which they work. They are among the reasons tenants renew in the Park.”

For all transactions, the Miramar Park of Commerce was represented by Bell and Ryan Goggins of Sunbeam Properties.

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

Kathryn Gallagher
Pierson Grant Public Relations
954-776-1999, ext. 242

Jim Darrow of Essex Realty Group speaking at Multi-Family Summit in Chicago, IL

Jim Darrow
CHICAGO, IL –  March 30, 2015 - Essex Realty Group, Inc. is pleased to announce that Jim Darrow will be speaking at the 6th Annual Bisnow Multi-Family Summit on April 2nd at the JW Marriott in Chicago at 7am where the leaders of the commercial real estate community will come together to discuss the state of Chicago and the National multi-family market.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Jim Darrow
Essex Realty Group, Inc.

Fifield Cos. Contributes $3.1 Million to Chicago’s Affordable Housing Fund

Kara Breems and Alan Schactman

CHICAGO, IL – (March 30, 2015) — Chicago-based Fifield Cos. has contributed $3.1 million to the city of Chicago’s affordable housing fund on behalf of the firm’s upcoming luxury apartment development NEXT, which will be located at 347 W. Chestnut St. in River North’s NoCA neighborhood.

Recently, Alan Schachtman, executive vice president of Fifield Cos., presented a $3.1 million check to Kara Breems of the Chicago Department of Planning and Development as part of the city’s Affordable Requirements Ordinance.

Randy Fifield
 The city’s affordable housing fund will use the $3.1 million for rent vouchers for low income families as well as for grants to non-profit affordable housing projects in Chicago. The ARO has received $59 million to date from residential projects like NEXT in NoCA.

"We are glad that we can help facilitate the provision of more affordable housing in the city," said Randy Fifield, principal and vice chair at Fifield Cos. “Giving back to the city of Chicago has always been an important part of our mission at Fifield.” 

Chicago skyline to the north, east
and south
Fifield Cos. will soon begin construction on NEXT, a 28-story, 310-unit apartment building, in the emerging NoCA (North of Chicago Avenue) area of River North. The building is expected to deliver in early 2017.
“As more jobs are created downtown, projects like NEXT are meeting a huge demand for rental housing in hot new areas like NoCA in River North,” said Schachtman.

“At the same time, this commercial activity is helping to ensure affordable housing is available through the city’s affordable housing fund. It’s a win-win for Chicago.”

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



Sunday, March 29, 2015

JLL Signs 151,000 SF, Three Major New Tenants at Airport I-10 Business Park in Phoenix, AZ

Pat Harlan
PHOENIX, AZ – Just as Airport I-10’s 600,000-square-foot Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new tenants at Airport I-10 include:

• DLS Worldwide, a major, volume-leveraged third-party logistics provider, leasing 78,843 square feet in Building B for a new headquarters, light manufacturing, assembly and distribution facility.

• DHL, the world’s leading postal and logistics group, leasing 40,529 square feet in Building E for a regional parcel delivery hub.

Steve Sayre
• Pilot Freight Services, a worldwide provider of transportation and logistics services, leasing 31,824 square feet in Building E for centralized pick-up and delivery service operations.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented Wentworth/Clarion in all three leases.
Mike Gordon of Cresa represented DLS. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Pilot. Jim Wilson of Cushman & Wakefield represented DHL.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Kyle Westphall
Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. 

“They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. 

"Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth.

James R. Wentworth
“They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. 

Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

For a complete copy of the company’s news release, please contact:
Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

Renovations Underway at Royal Palm Office Park in Plantation, FL

Royal Palm Office Park, Royal Palm Beach, FL

Roy Paskow
PLANTATION, FL – Lincoln Property Company has begun a multi-million dollar renovation of Royal Palm Office Park, the iconic Class A, suburban office complex located in Plantation, in the center of Broward County, Florida.

Lincoln manages the two-building, 465,592-square-foot property, which was purchased last summer by a pension fund advised by an affiliate of Lincoln.

The renovations are scheduled to be completed by early August. Atlanta-based Wakefield Beasley is the architect and interior design firm for the renovations, and Hollywood, Florida-based Witkin Hults Design Group is the landscape architect. Blanca Commercial Real Estate leases the property.

 “These renovations will make Royal Palm Office Park, which is already best-in-class, even better,” said Roy Paskow, senior vice president of Lincoln, who oversees the South Florida office.

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

Stephen Ursery
The Wilbert Group

Saturday, March 28, 2015

Lincoln Brokers Bento Box Entertainment’s New Lease in Buckhead, GA

1776 Peachtree, South Buckhead, GA

Kelsey Mandus
ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered Bento Box Entertainment’s new lease of 9,353 square feet at 1776 Peachtree, a 214,060-square-foot office building in south Buckhead. 

Bento Box produces animated content for television and other media platforms.

Michael Howell, Jeff Henson and Kelsey Mandus of Lincoln represented the landlord, Highbrook Investment Management. David Rubenstein of Cresa Atlanta represented the tenant.

Michael Howell
The transaction comes as the metro Atlanta office market continues its recovery. 

The overall Atlanta office vacancy rate ended last year at 14.2 percent, down from 15 percent at the end of first-quarter 2014, according to CoStar.

The Buckhead submarket is among the metro area’s hottest and finished last year with a vacancy rate of 13.1 percent.

For a complete copy of the company’s news release, please contact:
Stephen Ursery
The Wilbert Group

Friday, March 27, 2015

Hold-Thyssen Negotiates New Long-Term Lease of 10,000+ Square Feet to PACE Center for Girls relocating to Counsel Square in New Port Richey, FL

Carol L. Kinnard
TAMPA, Fla. --- Carol L. Kinnard, transaction specialist at Hold-Thyssen, Inc., a commercial real estate services firm, recently negotiated a six-year lease agreement for 10,450 rentable square feet to house an educational facility at Counsel Square II in New Port Richey.  

Kinnard, who represents the landlord at Counsel Square II, said new tenant PACE Center for Girls, Inc. is a not-for-profit 501(c) 3 corporation that leased the space to relocate from Hudson.   

PACE (Practical Academic Cultural Education) provides a non-residential delinquency prevention program at locations statewide and accepts referrals from the juvenile justice system, schools and families.   Professionals at the location will be conducting alternative educational, social and counseling programs focused on adolescent girls.

Other tenants at Counsel Square include Pasco County Sheriff’s Child Protection Team and Psychological Management Group, PA, who have been tenants there for over 10 and 15 years respectively, Kinnard said. 

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc.

407-644-4142  Lvershelco@aol.com

Phoenix-Area Apartments Acquired by 29th Street Capital; Multifamily Community is 29SC’s Third Recent Arizona Deal

Dusty Eddy
Phoenix, AZ (March 27, 2015) – 29th Street Capital (29SC) has acquired Williams Landing Apartments, a 72-unit multifamily community in Phoenix, Arizona’s thriving East Valley region.

Williams Landing is in the newly-designated Power Knowledge Corridor in Gilbert, which includes several universities and high-tech businesses.

 The property is just south of Loop 202, providing access to the many healthcare, technology, aerospace and tourism employers across the East Valley. It’s also near the Phoenix-Mesa Gateway Airport, allowing easy air travel options.

“With new economic activity and job opportunities throughout the East Valley, plus developments such as nearby Eastmark, 29SC believes the Phoenix metro area is poised for continued growth,” said Dusty Eddy, 29SC’s Vice President of Acquisitions.

Williams Landing Apartments, East Region
 Phoenix, AZ
 “We hope that strategic improvements and proactive management at Williams Landing will attract long-term residents seeking moderately-priced quality apartments in this booming area.”

The deal, which closed March 25, is 29SC’s ninth acquisition in the past eight months. It’s also its third Phoenix-area acquisition in four months.

In December 2014, the firm acquired two multifamily communities in Mesa: The Brittany and Sierra Madre. Williams Landing brings the total of recently-acquired East Valley units to 370.

For investment inquiries, contact:

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

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

Terri Thornton
Thornton Communications

John G. ‘Sonny’ Morris of Morris, Manning & Martin Honored for Lifetime Achievement in Law

John G. 'Sonny' Morris

Atlanta, GA– The Daily Report legal publication is honoring Morris, Manning & Martin, LLP founder John G. “Sonny” Morris with its Lifetime Achievement Award.

The publication chose 22 honorees, include 18 lawyers and four judges, from a list of 125 nominees. 

The winners will be profiled in a special section and honored at a banquet in June in conjunction with the publication’s 125th anniversary.

“The honorees have made significant marks in deciding cases, in government service, building and managing firms, handling all manner of matters in private practice and in-house, representing the poor and fighting for civil rights,” the publication wrote when announcing the winners.

It’s the second major honor for Morris within a year. Emory University Law School’s Alumni Association bestowed him with its 2014 Distinguished Alumni award in September.

The award is given to an alumna or alumnus who embodies the school’s values and demonstrates extraordinary achievement in law and service to society.

Plus, in 2012, Real Estate Forum magazine named him an Atlanta Real Estate Icon, describing him as a “consummate real estate deal lawyer.”

 He is also highly-ranked in the Chambers USA, Legal 500, Super Lawyers and Best Lawyers in America publications for several years in a row. 

Morris co-founded the firm that became Morris, Manning & Martin in 1976. Under his leadership, the firm expanded into major markets throughout the United States and even overseas. 

He is now both the firm’s Chairman and a Senior Partner in the Real Estate and Real Estate Capital Markets practices.

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

Terri Thornton
Thornton Communications

$9.5 Million San Francisco, CA Peninsula Mixed-Use Property Sale Completed by Marcus & Millichap

'The Postcard Building' at 329 Primrose Road, Burlingame, CA

Richard Reisman
 BURLINGAME, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 329 Primrose Road in Burlingame, Calif.

The two-story, Tudor-style property has long been a Burlingame landmark, and is now home to downtown Burlingame’s new U.S. Post Office and One Medical, a national tenant based in San Francisco with 30 medical offices located in select markets throughout the United States. 

The asset sold at a mid-4 percent capitalization rate for $9,500,000, which is more than $1,000 per square foot.

Thomas Doglio
The property was exclusively listed for sale by Thomas Doglio, vice president investments, and Richard Reisman, associate, of Marcus & Millichap’s National Land Group in the firm’s Palo Alto office.

 The buyer, a prominent East Bay developer who was in a 1031 exchange, was procured by Eduardo Vergara, senior associate, also in the firm’s Palo Alto office.

“Doglio, Reisman, and Vergara provided guidance to the buyer and the seller throughout a short and smooth escrow period,” notes Steven Seligman, regional manager of Marcus & Millichap’s Palo Alto office.

“Burlingame is one of the San Francisco Peninsula’s most sought-after investment locations with premium boutique shops, restaurants, and upscale services,” adds Doglio.

Eduardo Vergara
“The property is strategically located among offices, retail, and city hall, making it ideal for commercial uses such as the U.S. Post Office and One Medical.”

            Built in 1945, the mixed-use asset’s interiors were fully renovated in 2012 and 2015. Locally, the property is known as “The Postcard Building.”

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

Gina Relva
 Public Relations Manager
Marcus & Millichap

(925) 953-1716

$14.8 Million Single-Tenant Medical Office Building Sold by Marcus & Millichap in Fort Myers, FL

Orthopedic Medical Center, 2531 Cleveland Avenue, Fort Myers, FL

Kirk Felici
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 the Orthopedic Medical Center in Fort Myers, Fla. The $14.8 million sales price equates to $377 per square foot.

Matthew Greenspon, associate vice president investments in the firm’s Raleigh, N.C. office, represented the seller, The Macsydney Co. LLC. The buyer is Rose Hill Fort Myers LLC.

Kirk Felici, first vice president and regional manager in Miami, is Marcus & Millichap’s broker of record in Florida.

            “The Orthopedic Medical Center is 100 percent triple-net-leased by Orthopedic Specialists of Southwest Florida (OSSWF), one of Florida’s premier orthopedic practices,” says Greenspon.

            The Orthopedic Medical Center is located at 2531 Cleveland Ave. next to Lee Memorial Hospital in Fort Myers. The 39,281-square-foot building was built in 1981 on 2.8 acres.

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

Gina Relva
 Public Relations Manager
Marcus & Millichap
(925) 953-1716

Thomas M. Cohen and John J. Schorgl Join Marcus & Millichap Capital Corp. in Kansas City, KS

John J. Schorgl
KANSAS CITY, KS, March 26, 2015 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has hired Thomas M. Cohen and John J. Schorgl, CCIM as senior directors in the firm’s Kansas City office, according to Bill Hughes, MMCC’s senior vice president.

            “We are pleased to have Tom and John join our Kansas City office,” says Hughes. “Their commercial real estate knowledge and experience will be of substantial value to clients and to the firm’s investment real estate professionals in Kansas and throughout the region.”

In their new positions, Cohen and Schorgl will be responsible for securing debt and equity financing for a variety of investment real estate property types, including market-rate multifamily, affordable housing, office and industrial, retail, self-storage, seniors housing, and hospitality.

Thomas M. Cohen
Both will be primarily focused on clients based in Kansas City and in the Midwest.

            Before joining MMCC, Cohen served as a principal with Johnson Capital in Kansas City. He is a graduate of Tufts University and the University of Kansas School of Law, where he earned a J.D.

Schorgl, prior to joining MMCC, served as a vice president with Johnson Capital in Kansas City. He is a graduate of the University of Missouri, and Rockhurst University, where he earned an M.B.A.

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

Gina Relva
 Public Relations Manager
Marcus & Millichap Capital Corporation

(925) 953-1716

Bull Realty Brokers $9.2 Million Sale of Barrett Creek Plaza Shopping Center in Marietta, GA

Kermit Hairston
ATLANTA (March 23, 2015) —  John Harrison VP and Kermit Hairston VP, both with the National Retail Group of Bull Realty were the only brokers involved in the sale of Barrett Creek Plaza. The sale closed on Feb. 9, 2015 for $9.2 million.

The 83% occupied, 28,841 square foot retail center is located near Town Center at Cobb Mall at 125 Ernest Barrett Parkway in Marietta, GA. The seller was MRK Barrett Creek LLC and the buyer was PMC Fund LLC.

The center has national and regional credit tenants including Axiom Staffing, Buffalo Wild Wings Grill & Bar, Chase Bank, Cheeseburger Bobby’s, Moe’s Southwest Grill and T-Mobile.

“The dynamic mix of national and local tenants was attractive to potential buyers and generated interest from a variety of groups, including international investors,” commented Harrison.

John Harrison
Hairston reported, “This sale is another example of the strength in the retail investment market and the continued compression of cap rates for suburban properties.”

Harrison agreed, “Atlanta’s retail investment market is commanding interest from a wide range of buyers and investment demand is driving down cap rates.”

Barrett Creek Plaza is located two miles from Kennesaw State University, the third-largest university in Georgia with 24,100 students.

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services.

The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on 40 radio stations nationwide, iTunes, YouTube and CREshow.com. Info@BullRealty.com 404-876-1640

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

 Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328

404-876-1640 x 110

Thursday, March 26, 2015

RealtyTrac Finds Spokane County, Washington is Top Investment Market

IRVINE, CA -- The 16 teams that survived the manic first rounds of the NCAA men’s college basketball tournament are diverse both in geography, conference affiliation, and size — from the smaller private Xavier University in Ohio, with less than 5,000 undergraduate students, to the mammoth University of California in Los Angeles, with more than 30,000 undergraduates.

All these diverse schools have enough talent, athleticism and coaching acumen to win their next game, and maybe the next, and end up in the Final Four, where all bets are off.

Brackets based on real estate

University of California, Los Angeles, CA
But if the brackets are filled out based on real estate investing metrics, the outcome of each matchup becomes much easier to predict. Real estate when done right can be a science.

Starting with the existing Sweet 16, RealtyTrac has filled out the remaining brackets based on four key factors to fundamentally sound real estate investing in the counties where the college towns are located.

Those four factors are unemployment rate, foreclosure discount, gross rent yields and average gross profit on flipping.

Based on this methodology, the clear champion is Spokane County, Washington, home to Gonzaga University.

University of Oklahoma
A slightly higher than average unemployment rate of 7.1 percent didn’t slow down this team’s victory with a strong foreclosure discount rate of 27.6 percent coupled with a nice gross rent yield of 8.4 percent and finally a hefty average gross profit on flipping.

 Spokane County wins thanks to an average gross profit return on property flips of $64,704 — compared to $47,657 for its opponent in the real estate investing championship game, Hamilton County, Ohio, home to the Xavier University.

Xavier University 
In the Final Four, Xavier University’s Hamilton County, Ohio, beats out Monongalia County, West Virginia, home to West Virginia University, thanks to a high gross rent yield of 11.6 percent above Monongalia County’s 7.1 percent. 

Meanwhile Spokane County, Washington, home of Gonzaga University, beats out Cleveland County, Oklahoma, home to Oklahoma University with a gross rent yield of 8.4 percent compared to 7.6 percent for the Sooners.

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

Jennifer von Pohlmann
Sr. Data PR Manager
Office: 949.502.8300 ext 139

IDI Gazeley Taps JLL to Manage 47 MSF Industrial Portfolio Across Nine States

Dan Pufunt
ATLANTA, GA - IDI Gazeley Brookfield Logistics Properties, a leading global investor and developer of logistics warehouses and distribution parks, has tapped JLL to manage 47 million square feet of industrial real estate located in Atlanta, Southern Florida, Cincinnati, Memphis, Chicago, New Jersey, central Pennsylvania, Southern California and several Texas markets.

The commission represents the firm’s largest industrial property management assignment in the United States.

“High-touch customer service, consistency and value creation are all values that IDI Gazeley and JLL share, creating an ideal collaboration and setting the stage for efficient management of a significant number of industrial assets,” said Dan Pufunt, President, Property Management at JLL.

“We have the right industrial experts on the ground in each of these markets to execute our client’s strategy and to help increase the value of the portfolio.”
The assignment totals 47 million square feet across 165 properties with the average property totalling 285,000 square feet.

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

Savannah Duncan • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0870  • M: 404-901-4433

George Smith Partners Secures $21 Million in Construction Financing for New Los Angeles Multifamily Development

Jonathan Lee
LOS ANGELES, Calif. (March 2, 2015) – Commercial real estate investment banking firm George Smith Partners has successfully arranged $21 million in financing for its client, Elite Real Estate, LLC, for the ground-up construction of  a 49-unit apartment community at 11965 – 11973 Montana Avenue in the Brentwood neighborhood of Los Angeles.

The development is planned to be one of the largest multifamily projects built in Brentwood in the past decade, totaling more than 80,088 square feet of living space, according to George Smith Partners’ Senior Vice President Jonathan Lee. 

Lee was assisted in the transaction by George Smith Partners Analyst, Adam Candler.

            “The Brentwood area has seen little development over the past ten years, fueling pent-up demand for high quality rentals in this affluent marketplace,” explained Lee.

 “This luxury, Class A development is well-positioned to be competitive in the market.  The project will feature units that are built to condominium specifications, resulting in large unit sizes when compared to neighboring communities.”

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

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Wednesday, March 25, 2015

IDI Gazeley Appoints New Chief Financial Officer for North America

Matt Berger
ATLANTA, GA (March 25, 2015) – IDI Gazeley, a leading global investor and developer of logistics warehouses and distribution parks, today announced that Matt Berger has joined the platform as Chief Financial Officer for North America.

He will participate in key decisions as a member of the executive management team, assist in formulating the company's future direction and supporting tactical initiatives, and monitor and direct the implementation of strategic business plans.

He will be based in the company’s Atlanta Core Support office.

“Matt’s wealth of experience and financial knowledge make him a valuable addition to the IDI Gazeley team,” said Jay Cornforth, Managing Partner, Global Head of Industrial at Brookfield Properties and CEO of IDI Gazeley North America.

 “Matt has a background that will immediately help our business while guiding us as we continue to grow.

Jay Cornforth
“Our expanding portfolio and increasing demand led us to look for an addition to our team who fit with our ethos of innovation and exceptional service, and we’re confident that Matt will play a key role in delivering these values.”

Berger joins IDI Gazeley from Brookfield Renewable Energy Group where he worked as Head of Capital Markets.

He played a key role in supporting the long-term growth of the business on a global scale. Prior to joining Brookfield, he worked at Old Mutual Asset Management, a London based asset management business.

He held various posts including CFO and Strategic Advisor to the CEO, leading their efforts to take the business public.

He graduated from the University of Notre Dame with a BA in Business Administration and from the University of North Carolina with an MBA.      

For a complete copy of the company’s news release, please contact:
Mary Claire Keane
P 404-214-3559