Tuesday, July 21, 2015

Crossman & Company’s Jennifer Jackson to serve as panelist for NAIOP Central Florida Chapter’s The Future of Retail discussion


Jennifer Jackson
Crossman & Company’s Jennifer Jackson to serve as panelist for NAIOP Central Florida Chapter’s The Future of Retail discussion

Orlando, FL – Crossman & Company Research Coordinator Jennifer Jackson will serve as a panelist for NAIOP Central Florida Chapter’s The Future of Retail discussion on July 23.

Jackson will discuss e-commerce, omni-channel retailing and its practical implications in retail real estate alongside fellow panelists, Gabriel Cabrera, of Avon Products; and Hyunjoo Oh, of David F. Miller Center for Retailing Education & Research with the University of Florida’s Warrington College of Business Administration. 

The panel discussion will be moderated by Rick Baldocchi, of AVCON, Inc.

The Future of Retail panel will take place on Thursday, July 23, at The Citrus Club, 255 S. Orange Avenue, in Orlando. Registration and networking start at 11:30 a.m. and the program and lunch will begin at 12:00 p.m.

As Research Coordinator, Jackson provides detailed research and data collection on some of Crossman & Company’s high-profile projects.
  
For a complete copy of the company’s news release, please contact:

Sydnie Cobb
Crossman & Company

 407.581.6261

Mortgage Bankers Association's David Stevens Blasts Senate Plan to Tax Homebuyers

  

David H. Stevens



WASHINGTON, D.C. (July 21, 2015) – David H. Stevens, president and CEO of the Mortgage Bankers Association, issued the following statement upon learning that the U.S. Senate’s transportation funding bill would extend an increase of Fannie Mae and Freddie Mac’s guarantee fees in order to fund transportation projects.

“Senators need to vote 'no' on cloture on the motion to proceed to this bill and go back to the drawing board on the pay-fors.

 “Taxing homebuyers, which is the practical effect of increasing guarantee fees, to pay for unrelated government spending like this, is simply bad policy.

 “It’s bad for borrowers, it’s bad for the housing market and it’s bad for the economy, just as all three are finally showing signs of recovering from the 2008 meltdown.

“That is why we are asking all Senators to vote against this bill until they can find a more appropriate funding mechanism.”

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

Rob Van Raaphorst

(202) 557-2799

HFF closes sale of and secures acquisition financing for Le Méridien Dallas by the Galleria in Dallas, TX


Le Meridian Dallas by the Galleria Hotel, Dallas, TX
  
DALLAS, TX, July 21, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for Le Méridien Dallas by the Galleria, a 258-suite, upscale hotel in Dallas, Texas.  

John Bourret
HFF marketed the property on behalf of the seller, a partnership between Arden Group, Inc. and HEI Hotels & Resorts.  NB Holdings purchased the asset for an undisclosed amount.

  Additionally, HFF worked on behalf of the new owner to place the 10-year, fixed-rate acquisition loan with Principal Commercial Capital, part of Principal Real Estate Investors.

Le Méridien Dallas by the Galleria is an all-suite, upscale, 11-story hotel with a contemporary, European aesthetic. 

Originally constructed in 2002, the hotel underwent substantial renovations in 2009 when it was converted into a Le Méridien. 

Hotel amenities include the recently renovated fitness center, 5,079 square feet of meeting space, indoor heated swimming pool, 24-hour business center and concierge service.

 Le Méridien Dallas by the Galleria is situated on 2.975 acres in the North Dallas Galleria market, a retail, office and entertainment district positioned at the city’s major intersection of Interstate 635 (LBJ Freeway) and the North Dallas Tollway. 

Brian Carlton
Located at 13402 Noel Road, the hotel is across the street from the Dallas Galleria, a 1.8 million-square-foot, nationally-recognized destination mall that is the second most popular tourist attraction in North Texas with approximately 19 million visitors a year.  

Additionally, the hotel is surrounded by Class A office space serving as regional and national headquarters for major companies, including Coca-Cola, Frito Lay and Mary Kay Cosmetics.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group and managing director John Bourret.
  
The HFF debt placement team representing the new owner was led by senior managing director Brian Carlton.

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 secures $10.35 million refinancing for Holiday Inn Dallas Market Center

Holiday Inn Dallas Market Center Hotel, Dallas, TX
  

DALLAS, TX –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $10.35 million refinancing for Holiday Inn Dallas Market Center, a 200-room, full-service hotel in the Dallas Market Center in Dallas, Texas.  

Michael Cosby
HFF worked on behalf of the borrower, a partnership between Tom Corcoran and Prism Hotels & Resorts, to place the three-year, floating-rate loan with two one-year extensions with Realty Finance Trust through its regional office in Dallas. 

Loan proceeds will be used to retire existing financing and free up capital for upgrades to the property.

The Holiday Inn Dallas Market Center is located at 4500 Harry Hines Boulevard in north central Dallas proximate to the 110-acre Dallas Market Center which, at more than 5.5 million square feet is the largest wholesale market center in the world, and the Dallas Medical District, which spans six million square feet and includes University of Texas Southwestern Medical Center, Parkland Hospital, Children’s Hospital and Texas Woman’s University. 

Holiday Inn Dallas Market Center underwent extensive renovations in 2007 and 2008 when it was converted into a Holiday Inn hotel and will continue to be updated in the coming months and years. 

The hotel features a health and fitness center, outdoor pool, business center, 1,258 square feet of meeting space, and a sports bar and restaurant, which serves breakfast, lunch and dinner.

The HFF debt placement team representing the borrower was led by associate director Michael Cosby and managing directors John Bourret and Daniel O’Donnell.

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
  


Voit Real Estate Services Directs $12 Million Sale of 197,000-SF Industrial Building in San Bernardino, CA


Juan Gutierrez
Ontario, CA – Frank Geraci, Executive Vice President, and Juan Gutierrez, Vice President, of Voit Real Estate Services’ Ontario office successfully directed the $12,000,000 sale of a 197,000 square-foot industrial warehouse in San Bernardino, on behalf of the buyer, Shaw Development Company. 

The buyer plans on repositioning the asset and putting it back on the market either for sale or lease, according to Geraci, Executive Vice President in Voit’s Inland Empire office.  

“Our client was able to purchase a well-located manufacturing building which was in the process of being vacated as the Seller was moving their operations out of the State,” commented Geraci.

“Our client was able to see that the property had flexible uses, including manufacturing and distribution along with excess land that could be used for either future expansion or outside storage purposes.

“ In addition, our client saw they could reposition the asset in order to meet the needs of users wanting to own in a market where very few buildings are available for sale.”

The property is located at 5080 Hallmark Parkway in San Bernardino.

For questions, please contact Juan Gutierrez at (909) 545-8008 or via email at jgutierrez@voitco.com.

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

Jessamyn J. Miller | Director of Marketing
Voit Real Estate Services
2020 Main Street, Suite 100 | Irvine, CA 92614
T (949) 566-6422 | C (949) 929-7147
Voit Real Estate Services, Broker License #01333376


Newmark Grubb Knight Frank Completes Two New Leases Totaling 13,605 Square Feet with Phenix Salon Suites in San Diego County, CA

  
Randee Stratton

 San Diego, CA (July 21, 2015) — Newmark Grubb Knight Frank (NGKF) has completed two new leases with Colorado Springs, CO-based Phenix Salon Suites, the fastest growing ‘Salon Suites’ concept in the United States.

 The leases total 13,605 square feet and are located in San Diego submarkets of Rancho Bernardo and Vista.

Randee Stratton, Managing Director with NGKF in the firm’s La Jolla office, completed the leases on behalf of Phenix.

 Rancho Bernardo: Phenix signed a 10-year plus options, 8,603-square-foot lease located at 15731 Bernardo Heights Parkway, Suites 104 and 105, within Bernardo Heights Plaza.

Robert Aertker
Vista: Phenix signed a 10-year plus options, 5,002-square-foot lease located at 1605 S. Melrose Drive, Suites B and C.

Over the last three years, Stratton has worked with Phenix to expand its presence in key California markets and has either opened, is under contract, or is under construction on a total of 34 locations with a total lease consideration exceeding $52 million and totaling approximately 180,000 square feet. 

Other San Diego locations include Encinitas – the first location in California – as well as Downtown La Jolla, and Downtown San Diego.

“Many of these locations are not “cookie cutter” spaces,” she adds. “Being flexible and creative with space options and square footage has been an overriding theme as I reach out to landlords.”
  
“Randee was among our first brokers in the country. She immediately understood the Phenix concept and began producing top-quality sites for us.  

"Her enthusiastic representation has been instrumental in the growth of our brand in California,” said Robert Aertker, National Director of Real Estate, Phenix Salon Suites.

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

Darcie Giacchetto
Spaulding Thompson & Associates

949.278.6224

SR Commercial Acquires Three Assets in San Diego, CA; Plans Spec Brewery Space to Meet Demand


Shadowridge Business Center, Vista, CA

SAN DIEGO, CA – SR Commercial has acquired three industrial assets totaling 174,496 square feet in the San Diego market, including a multi-tenant industrial business park in Vista; an industrial flex/R&D property in Carlsbad; and two free-standing industrial buildings with yards. 

Barbara Emmons
The firm plans a long-term hold for each asset, and has particularly unique plans for one of the recent acquisitions.

Spec Brewery To Be Created in Vista

“Shadowridge Business Center in Vista is uniquely positioned to serve the growing brewery community here in San Diego.  We plan to strengthen this position by building out a spec brewery space in the business park,” says Adam Robinson, a Principal at SR Commercial who founded the firm along with partner CJ Stos.

 “We’ve seen incubator space built out for other industries in San Diego, such as biotech. However, we believe we are one of the first to implement this strategy in the brewery space.”

The 91,485 square-foot Shadowridge Business Center is comprised of four buildings, including two single-tenant buildings, which are fully leased, as well as two multi-tenant buildings offering suite sizes as small as 1,000 square feet.

Louay Alsadek and Barbara Emmons of CBRE represented SR Commercial as the buyer, and also represented the seller in the transaction.

Adam Robinson
The property is located at 1930 & 1960 Watson Way and 2025 & 2055 Thibodo Road in Vista, California.

Creative Space With First-Class Finishes in Carlsbad

SR Commercial also recently acquired a free-standing corporate headquarters flex/R&D property totaling 65,041 square feet in Carlsbad, California for a total consideration of $8.725 million.

The property is an especially attractive investment based on its exceptional high-end finishes, according to SR Commercial Principal CJ Stos.

“The previous owners invested $3.6 million into the property’s interior, resulting in an extremely attractive space that will be in high demand in the Carlsbad submarket,” explains Stos, who notes that the property’s interior was refinished with expansive glass in order to create an open, creative work environment.

Aric Starck of DTZ represented SR Commercial as the buyer and also represented the seller in the transaction.

The property is located at 3193 Lionshead Avenue in Carlsbad, California.

Rare Industrial Spaces in Escondido

CJ Stos

SR Commercial also acquired two free-standing, fully occupied industrial buildings totaling 17,970 square feet in Escondido, California.
significant discount to the property’s replacement cost of approximately $175 per square foot.”

Tucker Hohenstein and Mike Erwin of Colliers represented SR Commercial as the buyer, and also represented the seller in the transaction.

The property is located at 240-245 Pauma Place in Escondido, California.


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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940



BankUnited Announces Two Major Loan Deals For High-Profile South Florida Properties


Lauderdale Marine Center,  2001 Southwest 20th Street, Fort Lauderdale, FL



MIAMI LAKES, FL – BankUnited announced two recent loans: $96 million to The Carlyle Group to support its acquisition of Lauderdale Marine Center and $40 million to Dania Entertainment Center, formerly known as Dania Jai Alai.

BankUnited provided Washington, D.C.-based The Carlyle Group with a loan of $96 million toward the $145 million purchase price for Lauderdale Marine Center, a 51-acre boatyard, marina and marine service center that includes 14 buildings totaling 246,769 square feet, 84,079 square feet of covered boat slips and 156 wet slips.

Dania Entertainment Center rendering
It is the nation’s largest yacht repair facility in terms of the number of large vessels it can haul and service. The property is located at 2001 Southwest 20th Street, Fort Lauderdale.

The sellers were Baltimore-based East Yard Partners, LLC and West Yard Partners, LLC. In 2013 the sellers refinanced the property with a $60 million loan provided by BankUnited.

BankUnited also provided a $40 million mortgage to Dania Entertainment Center to finance the redevelopment of the existing 235,148-square-foot pari-mutuel facility at 301 E. Dania Beach Blvd.

The complex, built in 1980, most notably housed Dania Jai Alai.  The proposed construction entails the renovation of the existing space of the facility as well as the expansion of the slot floors.

For more information about BankUnited, please call (877) 779-2265 or visit www.BankUnited.com.

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

Mary Harris, (305) 817-8117                                           

Savannah Whaley, (954) 776-1999, x225