Monday, August 3, 2015

HFF secures $38.5 million financing for East Bay medical office building in Emeryville, CA


EmeryStation Greenway, 5800 Hollis Street, Emeryville, CA

Bruce Ganong
SAN FRANCISCO, CA – Aug. 3, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $38.5 million in financing for EmeryStation Greenway, a recently-completed, approximately 100,000-square-foot medical office building located in Emeryville, California.

Working on behalf of the borrower, Wareham Development, HFF placed the fixed-rate loan with Thrivent Financial for Lutherans. 

EmeryStation Greenway is a newly-constructed, four-story, state-of-the-art medical office building located at 5800 Hollis Street in the East Bay biotechnology research and innovation corridor not far from Interstates 580, 880 and 980 in Emeryville.  

The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and director Jordan Angel. 

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 $66.3 million joint venture for Atrium at Rock Spring Park in Bethesda, MD


Atrium at Rock Spring Park, 6555 Rock Spring Park Drive, Bethesda, MD


Dek Potts
WASHINGTON, DC, Aug. 3, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a joint venture for the acquisition of Atrium at Rock Spring Park, a three-story, 237,000-square-foot office building in Bethesda, Maryland.

HFF arranged the venture between affiliates of Meritage Properties and an institutional equity investor. 

Atrium at Rock Spring Park is located at 6555 Rock Spring park Drive,  between Interstate 270 and The Capital Beltway in North Bethesda.  The property is 86 percent leased to seven tenants including The National Institute of Health and SAIC.

The HFF investment sales team responsible for arranging the equity joint venture was led by senior managing director Dek Potts and included executive managing director Stephen Conley, senior managing directors Jim Meisel and Andrew Weir and associate director Matthew Nicholson.

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



Sales at The Residences at Mandarin Oriental, Atlanta Reach Nearly $40 Million


Karen Rodriguez
ATLANTA, GA (August 3, 2015) – Due to an aggressive push by the sales team and high demand for luxury condos in Atlanta, iStar Inc. (NYSE: STAR), is pleased to announce the sale of 10 units, totaling $22.1 million, this year at The Residences at the Mandarin Oriental, Atlanta.

The skilled team, led by exclusive listing broker Karen Rodriguez, has completed $38.2 million in sales at the property since taking over the project in January 2014.

“The momentum at The Residences is impressive with our year-to-date sales already surpassing sales for the entire year last year,” said John Kubicko, senior vice president for iStar Inc.

“We’re particularly excited about selling the first full-floor residence and building out our second full-floor home, Residence 52. After selling 10 units so far this year, the next phase of finished units should sell rapidly.”

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

Hadley Creekmuir
 The Wilbert Group
Tel: 404-343-4080



Garretson Resolution Group Signs 43,112-SF Lease For New Charlotte, NC Office at Two Morrocroft Centre

  
 
Chris Swart
CHARLOTTE, NC (Aug.3, 2015) — Garretson Resolution Group (GRG) has signed a 43,112-square-foot lease at Two Morrocroft Centre, located at 4064 Colony Road in Charlotte, for the relocation and expansion of its Charlotte office. 

The lease is one of the largest signed in SouthPark this year.

Chris Swart and Marshall Williamson of Lincoln Harris’ Charlotte office represented the landlord, Columbia North Carolina Morrocroft Office Properties, LLC, in the transaction and Chris Schaaf of JLL represented the tenant.

“We are very excited that GRG chose Morrocroft Centre and we look forward to building a long-term relationship with them,” Swart said.

Year-to-date, Lincoln Harris has arranged five leases totaling 58,596 square feet at Morrocroft Centre, which brings total occupancy to 97.2 percent.

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

Savannah Duncan
The Wilbert Group
404-343-0879 (O) 404-901-4433 (C)

First Hotel RL Nationwide Opens in Baltimore’s Inner Harbor



Greg Mount
SPOKANE, WA, Aug. 3, 2015 -- RLHC (Red Lion Hotels Corporation) (NYSE: RLH) announced today the debut of its new brand, Hotel RL, with the opening of the 130-room Hotel RL Baltimore Inner Harbor.

  Inspired by the adventurous spirit of the Pacific Northwest, the flagship hotel is an historic adaptive reuse building equipped with industry-leading technology and other consumer innovations.

“Hotel RL is an urban lifestyle brand that will offer visitors a uniquely local experience and Baltimore is the perfect place to unveil this concept,” said RLHC President & CEO Greg Mount. 

“We have been embracing the Baltimore community and already feel an integral part of it.  We know our guests will enjoy the location and the experience Hotel RL Baltimore offers.  

"We emphasized comfortable, communal spaces and advanced technological touches which will appeal to travelers with a millennial mindset; those who are addicted to their devices.”

Situated at 207 East Redwood Street in downtown Baltimore, the Hotel RL Baltimore Inner Harbor, is an adaptive reuse of the former Keyser Building, a 10-story historic property with a cut-stone fa├žade. 

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

Pam Scott
VP, Corporate Communications
509-777-6393
509-570-4610


Franklin Street Named Exclusive Broker for Two Westshore Office Buildings in Tampa, FL


 
Clay Wommack
Tampa, FL (Aug. 3, 2015) — Franklin Street, a full-service commercial real estate firm headquartered in Tampa, has been tapped to be the exclusive leasing broker for 194,093 square feet of office space in the Westshore submarket.

 Clay Wommack, director of Franklin Street’s Office and Industrial Services division, and Brad Saulson, associate director, are leading the effort in locating new tenants and renewing existing ones.  

The Kennedy Center is a five-story, 97,930-square-foot multi-tenant building located at 5100 West Kennedy Blvd. 

In addition, Franklin Street is leasing One President’s Plaza located at 4902 Eisenhower Blvd. near the Veterans Expressway.

Both properties are owned and managed by Research Management Corporation.

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

Todd Templin or Ashley Fierman, BoardroomPR
(954) 370-8999                                                                                                     


NAI Realvest Brokers Sale of Ormond Beach, FL Retail Building Planned for a Dunkin Donuts

  
Chris Butera
ORMOND BEACH, FL – NAI Realvest recently completed the sale of a former PNC Bank branch building at 1190 Ocean Shore Blvd. in Ormond Beach for $275,000.00. 

Chris Butera, investment associate at NAI Realvest covering Volusia and Flagler counties, brokered the transaction representing the Seller, PNC Bank NA of Philadelphia, Pa. and the Buyer, Afshari1190, LLC, a local Dunkin Donuts franchisee who plans to open another store in the future at the 1,623 square foot facility. 

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

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


NAI Realvest Retail Team closes Sales of Mixed-use, Retail Properties in Orlando Totaling More than $1.01 Million


Kevin O'Connor
ORLANDO, FL – NAI Realvest recently negotiated two commercial property sales – a downtown Orlando building and a vacant parcel near the airport for a Popeye’s restaurant – totaling $1,012,500.00.     

The NAI Realvest retail team of Kevin O’Connor, Matt Cichocki and Mitch Heidrich negotiated the investment purchase of 63 E. Pine St. for $737,500.00, representing the local buyer 63 E. Pine Street LLC.  

The two-story downtown building with 7,458 useable square feet houses Golden Knife Chop House restaurant on the first floor.  Robinson Street Corporation of Winter Park was the seller.

O’Connor, Cichocki and Heidrich also negotiated the $275,000 sale price for a vacant retail parcel at 1500 McCoy Rd. representing the local seller, RAI Restaurants. 

The Dallas-based buyer Pop Florida Properties, LLC intends to develop a Popeye’s restaurant on the 1.34-acre site.   Ryan Phelps of Orange Capital Investments represented the buyer.

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

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

HSA Commercial and Innovative Capital Advisors Equity Fund Acquires 114,000 SF Warehouse Building in Wauwatosa, WI


 
Tim Blum
CHICAGO, IL and MILWAUKEE, WI (August 3, 2015) — A joint real estate fund formed by commercial mortgage lending specialists Innovative Capital Advisors (ICA) and Chicago-based HSA Commercial Real Estate, a full-service real estate firm, has closed on the acquisition of the 114,000-square-foot Wauwatosa Business Plaza industrial building  located at 3031 N. 114th St. in Wauwatosa, Wis.

 The high-clear warehouse facility is adjacent to the former Schwaab stamp factory that was purchased by the same partnership earlier this year.

The Wauwatosa Business Plaza is currently 50 percent occupied by warehousing tenants including a Habitat for Humanity ReStore donation center and resale shop. 

Given the existing tenancies at the property, HSA Commercial and ICA do not have any immediate redevelopment plans.

“With the success of The Mayfair Collection and the continued transformation of Burleigh Street from a lifeless industrial corridor to a vibrant mixed-use district, our newly acquired properties represent strategically significant touchpoints that will define perceptions of this area for visitors and future residents,” said Tim Blum, executive vice president with HSA Commercial.

“For that reason, we need to ensure that these assets are managed over the long term such that they contribute to the city’s ambitious vision for The District.”

 James T. Barry III, J.D, CCIM; Kevin Barry, CCIM; and David Barry, CCIM, SIOR of DTZ Barry represented the seller of the Wauwatosa Business Plaza in the transaction.

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


Abe Tekippe, atekippe@taylorjohnson.com, 312-267-4528