Tuesday, June 30, 2015

Marcus & Millichap Brokers $2.7 Million Sale of SkyPoint Retail in Tampa, FL

Armando Rodriguez
TAMPA, FL, June 30, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of SkyPoint Retail, a 9,907-square foot retail property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $2,700,000.

Armando Rodriguez, associate, and James Medefind, senior associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.  

The buyer was secured and represented by Casey Babb, CCIM and vice president investments, in Marcus & Millichap’s Tampa office. 

SkyPoint Retail is comprised of five ground floor retail units in the most exclusive residential high-rise in downtown Tampa, Skypoint, located at 777 North Ashley Drive.

James Medefind
Skypoint is a 33-story residential tower built in 2007 which houses 380 residential condos; often selling for the highest price per foot in the region. 

Within the next five years, two additional residential towers will be constructed within two blocks of Skypoint, effectively doubling the residential population base with in this dense cityscape to keep up with existing demand.

 In addition to the residential population in downtown Tampa, it is also home to the largest business and financial district in Tampa Bay with a major presence of Fortune 500 companies, including Bank of America, PNC, Wells Fargo and Verizon. 

Within walking distance is the Tampa Convention Center, Amelia Arena, Tampa Port and Channelside. 

“It’s the highest price per foot we’ve seen in downtown Tampa for retail space,” says Medefind.  

“We were successful in bringing a large diverse population of buyers, both local and from out of the area,” he said, “and all were very, very aggressive buyers when it came to price and wanting to invest in downtown Tampa.” 

“The city of Tampa has done an excellent job over the past five years reinvesting in its downtown waterfront park system, new riverwalk, museums, etc.,” adds Casey Babb, CCIM, “and the buyer recognized the opportunity to buy-in at the forefront of what looks like it will be a huge explosion of new development in the coming years.  To be able to obtain a trophy real estate asset in an emerging market like downtown Tampa was a no brainer.” 

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

Richard D. Matricaria
Vice President/Regional Manager
 Tampa, FL

(813) 387-4700

Lincoln, Representing Landlord General Electric Credit Equities, Inc., Brokers Two Leases in Metro Atlanta Totaling More Than 21,500 Square Feet

Jeff Henson
ATLANTA, GA (June 30, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered two leases in Metro Atlanta totaling more than 21,500 square feet.

Jeff Henson and Denton Shamburger of Lincoln’s Atlanta office represented the landlord, General Electric Credit Equities, Inc., in both transactions.

Details of the transactions are below:

·      Atlanta Pain Clinic renewed its 1,711-square-foot lease for an additional seven years at Southlake Corporate Center, located at 3000 Corporate Center Drive in Morrow, Georgia. 

John Cobb with Newmark Grubb Knight Frank represented the tenant.

·      SELEX GALILEO, Inc. renewed its 19,820-square-foot lease for an additional 44 months at 5085 Avalon Ridge Parkway in Norcross, Georgia. Aaron Sommer with Newmark Grubb Knight Frank represented the tenant.

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

Amata Office Solutions Completes Renovation of Hybrid Shared Office and Co-working Center in Chicago’s East Loop

Ron Bockstahler
CHICAGO, IL (June 30, 2015) – Chicago-based real estate company Amata Office Solutions today announced the completion of its shared office/coworking center on the 28th floor of 150 N. Michigan Ave., concluding a two-month renovation that updated the center’s 55 private offices and reconfigured common areas to offer a greater variety of workspaces that cater to today’s increasingly mobile workforce.

 “The needs of today’s workers are very different from when we opened this center 10 years ago, and we felt that by investing in this renovation, we were simultaneously investing in the success of our clients,” said Ron Bockstahler, co-founder and CEO of Amata Office Solutions and the company’s affiliated office brokerage, Amata Realty Group.

 “As one of the more established alternative office providers in Chicago, we’ve seen companies embrace fully open floor plans, only to discover they interfered with the day-to-day operations of their business.

“This hybrid floor plan strikes a balance between too much and too little privacy, delivering on-demand office space that provides all of the social and professional benefits of coworking without forcing businesses to go all-in on a particular office model.”

For a complete copy of the company’s news release, please contact:  
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Lexington Homes Reaches 75-Percent-Sold Milestone at Park Ridge Place Townhomes in Park Ridge, IL

Jeff Benach
CHICAGO, IL (June 30, 2015) – Prior to completing construction on the first building, Chicago-based Lexington Homes has already sold 75 percent of the homes at Park Ridge Place, a gated community of 16 townhomes in the upscale suburb of Park Ridge. First move-ins are scheduled for September 2015.

 “The size and features of the homes, combined with their desirable location, have made Park Ridge Place a popular option for everyone from first-time homebuyers to empty nesters,” said Jeff Benach, co-principal of Lexington Homes.

“For example, luxury finishes such as granite countertops in the kitchen and bathrooms, ceramic flooring in the entryway and baths and hardwood flooring throughout the main level come standard in every home at Park Ridge Place.

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

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Lincoln Brokers North Point Ministries’ Lease Expansion at One Point Royal in Alpharetta, GA

Michael Howell
ATLANTA, GA (June 30, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered North Point Ministries’ 6,746-square-foot expansion at One Point Royal, a two-story, 149,690-square-foot office building in Alpharetta, Georgia, in metro Atlanta’s North Fulton submarket.

 In conjunction with the expansion, North Point Ministries has also extended their lease at the building and now occupies 48,329 square feet at One Point Royal.

Michael Howell and Matt Davis, each a vice president of office leasing at Lincoln, represented the landlord, OA Development, in the transaction.

 Scotland Wright of Scotland Wright & Associates represented North Point Ministries, which last year was named the largest church in the United States by Outreach magazine.

One Point Royal serves as the administrative offices for North Point Ministries while North Point Community Church, the largest of the North Point Ministries churches, is located adjacent to One Point Royal.

Matt Davis
“We are very excited about North Point Ministries’ expansion and continued commitment to One Point Royal,” Howell said. 

“It is in large part a tribute to the outstanding job OA Development has done since acquiring the property late last year, and to the strong relationships they have developed with the existing tenants.”

One Point Royal sits on 7.2 acres and is part of the Royal 400 office park. Located 10 miles north of I-285 and only half an hour from Hartsfield-Jackson Atlanta International Airport, the building also offers easy access to Georgia 400 and North Point Mall.

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

Savannah Duncan
The Wilbert Group

CBRE Global Investors Fund Sells 201 17th Street Office Building in Midtown Atlanta

John Gilb
LOS ANGELES, CA, June 30, 2015 – CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has sold 201 17th Street in Atlantic Station in Midtown Atlanta following a successful repositioning of the property.

The execution of the business plan resulted in an increase in leasing at the 17-story building from 48 percent to 91 percent since the fund acquired the property in 2012.

Both the CBRE Strategic Partners U.S. Value 6 and CBRE Strategic Partners Opportunity 5 funds own other buildings within Atlantic Station including another office building, a parking garage and a majority ownership stake in the Atlantic Town Center retail centerpiece.

As part of its repositioning strategy at Atlantic Station, CBRE Global Investors has leveraged the latest technology to enhance the experience of retail guests, office workers and residents.

“Midtown is the epicenter of technology and creative business in Atlanta,” said John Gilb, Principal, CBRE Strategic Partners U.S. 

“But beyond offering a prime location at Atlantic Station, we have focused on making this space even more desirable by anticipating and accommodating tenants’ needs and creating a pre-eminent environment for innovation that helps tenants attract and retain young professionals.”

201 17th Street, Midtown Atlanta, Atlanta, GA
Technology companies migrating to Atlantic Station comprise the majority of the newly added tenants at 201 17th Street as the area is increasingly gaining a reputation as “Silicon Peach.” 

The fund decided to sell the property to benefit its investor clients by taking advantage of strong institutional interest in core office product in Atlanta.

“There is strong momentum in Midtown as a destination for companies seeking an urban, infill, mixed- use environment that helps attract millennials,” Gilb said. 

“This is resulting in a huge influx of tech tenants. With the completion of our value-added strategy, this was the optimal time to sell to an investor who was interested in what we have transformed into a core asset.”

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

Pam Barnett
Corporate Communications Director

HFF announces equity raise and financing for development of No. 9 Walton in Chicago, IL

Rendering of planned No. 9 Walton Condominium Development
Gold Coast Neighborhood, Chicago, IL

Matthew Lawton
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an equity raise and financing on behalf of JDL Development, LLC for the development of No. 9 Walton, a 67-unit, super luxury condominium project in Chicago’s Gold Coast. 

The equity capital was provided by Cindat Capital Management Ltd.  iStar Inc. is providing the project’s debt financing in the form of a first mortgage and mezzanine construction loans.

Due for completion in 2017, No. 9 Walton will be built on a site at the intersection of West Walton and North State Streets, less than a block from Washington Square Park and in close proximity to numerous dining and retail amenities in Chicago’s Gold Coast and Miracle Mile neighborhoods.

 The 36-story landmark project will contain 67 residences averaging 4,000 square feet each that are well equipped with top-of-the-line luxury finishes throughout.

 The amenity-rich tower will include an indoor lap pool, hot tub, steam room, sauna, fully-equipped fitness center with Pilates and Gyrotonic machines, private wine storage, private dining room, covered dog run, dry cleaning service and car service.  35 percent of the units were pre-sold at time of closing. 

The HFF team representing the developer, JDL Development, LLC, was led by executive managing director Matthew Lawton and senior managing director Dan Cashdan.

For a complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

HFF closes $33 million sale of Class A cold storage industrial facility in Chicago, IL

Preferred Freezer leased cold-storage facility, 2500 South Damen Avenue, Chicago, IL

CHICAGO, IL – June 30, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $33 million sale of a 128,200-square-foot, Class A, cold-storage industrial facility 100 percent leased to Preferred Freezer Services in Chicago, Illinois.

Jordan Angel
HFF marketed the property to a limited number of qualified investors on behalf of the seller, Romel Enterprises, LLC.  AAG Management purchased the asset free and clear of existing debt.

Completed in 2003, the one-story building features 6.6 million cubic square feet of freezer capacity; a 22,200-square-foot refrigerated loading and unloading dock; U.S.D.A, F.D.A and U.S.D.C. designated inspection areas; HACCP certification; 16 dock doors with levelers and seals; a 100-percent-diesel backup generator to run the entire facility; private QA laboratories for on-site sampling and 24-hour security. 

Situated on six acres at 2500 South Damen Avenue in southwestern Chicago, the location provides access to rail and interstate systems, including Interstate 55.  Additionally, the facility is 21.3 miles from Chicago’s O’Hare International Airport.

The HFF investment sales team representing the seller was led by director Jordan Angel, managing director Patrick Sullivan and real estate analyst Ryan Chambers.

“This transaction was a win for both buyer and seller,” Angel said.  “It represents a great asset fully occupied by a best-in-class freezer storage company.”

For a complete copy of the company’s news release, please contact: 
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

Alpha Alternatives Closes $14 Million CMBS Student Housing Loan on University of Illinois campus in Champaign, IL

Student Housing Community at University of Illinois Campus, Champaign, IL

CHICAGO, IL, June 30, 2015 – Alpha Alternative Investments, a commercial real estate capital markets firm providing financing solutions nationwide, recently closed a $14 million CMBS loan for a student housing facility in Champaign, IL.

Anthony J. Longo
Developed in 2013, the 72-unit, 194-bedroom multifamily property is located in the heart of the University of Illinois campus and targets undergraduate students.

 “The project sponsor teamed up with Alpha Alternatives to originate the refinancing for a construction loan that was coming due, as well as recapitalize the asset,” says Anthony Longo, Managing Partner with Alpha Alternatives.

“Because of our strong relationships with multiple debt financing sources across the U.S., we were able to find a superior capital solution, including rate and proceeds compared with the client’s historical lender, and also facilitate the closing in just over 30 days,” adds Longo.

Matthew Stearns, Senior Vice President of Alpha Alternative Investments, partnered with Longo to close this transaction.

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

Stacey Corso

Meridian Capital Group Arranges $100 Million in Bridge Financing for a Six-Property Hotel Portfolio Located in FL, TX, NC and MN

Sarah Kuebler
New York, NY June 30, 2015– Meridian Capital Group, America’s most active debt broker, negotiated a $100 million bridge loan for the refinance of a six-property hotel portfolio located in FL, TX, NC and MN on behalf of a Los Angeles based private equity fund.

The three-year initial loan term, provided by a New York-based debt fund, features a floating-rate, interest-only payments for the full term, and two one-year extension options.

This transaction was negotiated by Meridian Managing Director, Seth Grossman, and Vice President, Sarah Kuebler, who are both based in the Company’s Carlsbad, CA office. Grossman and Kuebler also arranged the acquisition financing for the same portfolio in 2012.

The portfolio is composed of the following six hotels: DoubleTree Suites by Hilton Hotel Tampa Bay located at 3050 North Rocky Point Drive West in Tampa, FL; Embassy Suites Boca Raton located at 661 NW 53rd Street in Boca Raton, FL; Sheraton Suites Fort Lauderdale at Cypress Creek located at 555 NW 62nd Street in Fort Lauderdale, FL; Holiday Inn San Antonio located at 77 NE Loop 410 in San Antonio, TX; DoubleTree Suites by Hilton Hotel Raleigh – Durham located at 2515 Meridian Parkway in Durham, NC; and Embassy Suites St. Paul located at 175 East 10th Street in St. Paul, MN.

Seth Grossman
“Based largely on the sponsor’s strength, track-record, the improving market and specific hotel conditions, we were successful reaching our client’s objectives. 

"We refinanced their acquisition loan with an increase in loan proceeds while simultaneously lowering the interest rate several hundred basis points and maintaining ample flexibility for the portfolio going forward,” said Mr. Grossman.

Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms.

In 2014, Meridian closed 3,480 loans totaling more than $30 billion in transaction volume with 175 unique lenders, equating to $120 million per business day. 

Since inception, the company has closed more than $200 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds.

 Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties.

Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Florida and California.

For a complete copy of the company’s news release, please contact:
Jonathan Stern
Meridian Capital Group

CTH+A Promotes Two Staff Members in Orlando, FL

Kristine Kurek Melanson
 ORLANDO, FL, June 30, 2015 – C.T. Hsu + Associates announces George Thomas, AIA, CPM, NCARB has been promoted to Senior Associate.

 Thomas is a Senior Project Manager of the firm, and he has 25 years of experience in the architecture profession.

His experience includes all phases of design and construction for institutional, educational, and commercial projects.

 He holds a Master of Architecture degree from the University of South Florida, and a Bachelor of Architecture degree from the University of Florida.

 Kristine Kurek Melanson was promoted to Associate. For the past five years, Melanson has been the Senior Marketing Manager for the firm.

George Thomas
 She has over 20 years' experience in marketing and business development for architectural and related design firms. She holds a Bachelor of Science in Business Administration majoring in Marketing from the University of Central Florida.

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

C.T. Hsu + Associates, P.A.
820 Irma Avenue · Orlando, FL 32803 · 407 423 0098 · Fax 407 423 4793

HSU + Associates Celebrates 30 Years of Business in Central Florida

Orlando Mayor Buddy Dwyer and C.T. Hsu
 ORLANDO, FL, June 30, 2015 -- C.T. Hsu + Associates (CTH+A) opened its doors in Orlando, FL on July 5, 1984. 

Thirty years later, the firm has earned respect and esteem as one of Central Florida's leading businesses, as an awarding winning firm, a worldwide reputation for exceptional innovate design solutions with highly personalized services, and as dedicated community servants.

The firm's work has enriched the quality of life in the Central Florida region professionally, culturally, and economically.

The Celebration - October 9, 2014 is C.T. Hsu + Associates Day in the City of Orlando

The celebration was commemorated with a 30th Anniversary event at its' offices themed "East Meets West".

The day was marked with a schedule of events including a proclamation from the City of Orlando's Mayor Buddy Dyer, entertainment performances by Dr. Sandy Shugart & The January Band, Catherine Way a talented harpist, a Chinese musician duo Mr. Rui Yang and Ms. Luo Wu, as well as local Chinese artist Guang - Hui Zhao.

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

C.T. Hsu + Associates, P.A.
820 Irma Avenue · Orlando, FL 32803 · 407 423 0098 · Fax 407 423 4793