Friday, April 24, 2015

Lincoln Wins Management Assignments for Cobb Corporate Center and Northwoods Commons in Metro Atlanta

Shane Froman
ATLANTA, GA– Lincoln Property Company Southeast (Lincoln) has secured assignments to manage two office parks in metro Atlanta: Cobb Corporate Center in Marietta and Northwoods Commons in Norcross

Petrus Partners owns both properties; Lincoln received the leasing assignments for the parks in October 2014.

The 195,921-square-foot Cobb Corporate Center features five single-story buildings. Major tenants include Acuity Specialty Products, Data Systems Inc., Leviton Manufacturing, Willconsco and Avnet.

“There is a real vibrancy in Cobb stemming from the new Braves stadium, and we expect the momentum created by that project to have an extremely positive impact on the Cobb Corporate Center,” said Shane Froman, vice president of property management in Lincoln’s Atlanta office. 
“We at Lincoln are certainly very excited to be a part of what’s happening in that market.”

The 100,270-square-foot Northwoods Commons features three buildings, and its larger tenants include Bravepoint, Giant Intn’l USA and Johns Creek Family Physicians. 

Features include frontage on Peachtree Industrial Boulevard, 14-foot clear ceiling heights, and proximity to a variety of restaurants, banks, hotels and golf courses.

Northwoods Commons, Norcross, GA
“Cobb Corporate Center and Northwoods Commons will benefit tremendously from our ‘owner-centric’ approach to property management,” Froman said. 

“We are very excited about expanding the relationship already established with Petrus Partners on the leasing side to now include management services, and we greatly value this client and their trust in us.”

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

HFF closes sale of power center in suburban Houston, TX

Green Tree Shopping Center, 231-515 South Fry Road, Katy, TX

HOUSTON, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Green Tree Shopping Center, a 147,658-square-foot, 99-percent-leased power center in suburban Houston.

Ryan West
HFF arranged the sale of the property on behalf of the seller, a TIC ownership group managed by Joseph and Henry Mandelbaum of RealTax, Inc.  Inland American Real Estate Trust, Inc. purchased the asset for an undisclosed amount.

Green Tree Shopping Center is occupied by national and regional tenants including TJ Maxx, PetSmart, Office Depot, Party City, Five Below, Ulta Salon, Famous Footwear, Mattress Firm, Bath & Body Works, GNC and Castle Dental.  The center is shadow-anchored by Target and Randall’s. 

Renovated in 2004, the Green Tree Shopping Center spans 21.6 acres at 231-515 South Fry Road in Katy, a suburb west of Houston and approximately 24 miles from the central business district.

  Located at the western edge of the Energy Corridor, the trade area has a population of more than 217,000 residents and an average household income exceeding $101,000. 

The HFF investment sales team representing the seller was led by managing director Ryan West, senior managing director Rusty Tamlyn, associate director Matt Berry and real estate analyst Robbie Kilcrease.

Rusty Tamlyn
“The timing of this transaction should be important for some to note,” West said.  “We took offers just prior to the rapid decline in the price of oil, yet recently closed at the initial pricing.

“ Capital continues to aggressively seek retail opportunities in Houston, and the sale of Green Tree Shopping Center is just one example of how the market is pricing through the energy discussion. 

"  In addition, there were several moving pieces including two new anchor leases in progress that we had to structure around but the cooperation of all parties involved allowed us to facilitate a successful transaction.” 

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 |

NAI Realvest Negotiates Five Leases for more than 29,000 rentable square feet at Monroe CommerCenters in Sanford, FL

Michael Heidrich
SANFORD, Fla. --- NAI Realvest recently negotiated industrial leases totaling 29,062 rentable square feet -- one at Monroe CommerCenter North and four at Monroe CommerCenter South.

Michael Heidrich, principal at NAI Realvest who heads the leasing and management at the Sanford industrial facilities, brokered the transactions on behalf of the landlords. 

At Monroe CommerCenter South, Gulf Industries Material Sales, LLC renewed their lease of 4,240 square feet and expanded into an additional suite with 4,320 square feet at 4265 Church St.;    

Eutek Sysems Inc. d/b/a Hydro International Wastewater is a new tenant that leased 2,000 square feet at 711 Progress Way;

Procom Services Inc. renewed the lease of 1,250 square feet at 4157 Flex Court; and
Philadelphia-based ARAMARK Refreshment Services Inc. renewed their lease of 10,000 square feet at 4186 Incubator Court. David Perez of Cushman & Wakefield represented the tenant ARAMARK.  The landlord is Monroe South SPE, LLC.

At Monroe CommerCenter North, American Lighting and Signalization Inc. renewed its lease of 7,252 square feet at 4200 Church St.  The landlord is Monroe North SPE, LLC.

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

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