Sunday, August 9, 2015

Marcus & Millichap Elects Nine Senior Vice President Investments



  
CALABASAS, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has named nine senior vice president investments, according to John J. Kerin, president and CEO.

      “The senior vice president investments designation is one of the highest achievements a Marcus & Millichap investment professional can attain,” says Kerin.

John J. Kerin
“This newly designated class of senior vice presidents investments, all previously first vice presidents investments, have demonstrated exemplary leadership and excellence in investment property sales, and are truly meritorious of this honor.”

       The 2015 senior vice president investment promotions were awarded to:

·         Eduardo U. Cerna, a multifamily specialist in Palo Alto, Calif.
·         Jerry Goldstein, a retail specialist in Houston, Texas
·         Douglas K. Mandel, an office & industrial specialist in Fort Lauderdale, Fla.
·         Richard J. Ringer, a multifamily specialist in West Los Angeles, Calif.
·         Steven J. Siegel, an institutional retail and net-lease specialist in Manhattan, N.Y.
·         Mark Taylor, an institutional retail and net-lease specialist in Philadelphia, Pa.
·         Dean Zang, an institutional retail and net-lease specialist in Washington, D.C.
·         Christopher J. Zorbas, an institutional multifamily specialist in San Diego
·         Alex D. Zylberglait an office & industrial specialist in Miami


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

Gina Relva
Public Relations Manager
(925) 953-1716

Sale and financing of Energy Square in Dallas, TX closed by HFF


Energy Square,  4925 and 4849 Greenville Avenue and 6688 N. Central Expressway
Dallas, TX

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Energy Square, a three-building, 948,678-square-foot, Class A office project in Dallas, Texas. 

Southern Methodist University
HFF marketed the property on behalf of the sellers, Lincoln Property Company, Champion Partners and Long Wharf Real Estate Partners.

  Energy Square was purchased by a partnership between GlenStar Properties and USAA Real Estate Company.  

The new owner was also assisted in securing floating-rate financing through Wells Fargo Bank by HFF.

Energy Square consists of a 10.3-acre site containing three buildings, One, Two and Three Energy Square, plus an approximately one-acre development site zoned for mixed-use development. 

Grub Burger Bar Restaurant, Dallas, TX
Recently renovated, the LEED Gold and Energy Star-rated properties feature a fitness center, three conference centers, multiple food service options, Grub Burger Bar restaurant, an outdoor plaza featuring seating and putting greens, and direct access to the DART Light Rail.

 Energy Square is 82 percent leased to tenants including New York Life Insurance Company, Davaco, and Advanced Homecare.

 Located at 4925 and 4849 Greenville Avenue and 6688 N. Central Expressway respectively, Energy Square is just off the North Central Expressway near Southern Methodist University north of downtown Dallas. 

 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 closes sale of Class A office building in Parsippany, NJ

                      
Halsey Corporate Center, 90 East Halsey Road, Parsippany, NJ

 
Jose Cruz
FLORHAM PARK, NJ –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Halsey Corporate Center, a 100,000-square-foot, Class A office building located at 90 East Halsey Road in Parsippany, New Jersey.

HFF marketed the property on behalf of the seller, Stockbridge Capital Group, LLC and procured the buyer, Boxer F3 LLC, with Boxer Investment Management as its manager.

Halsey Corporate Center features a three-story, glass-enclosed atrium lobby and a full-service cafeteria. 

 The building is leased to eight companies, including Chemtrade.  The property is less than one mile south of Interstate 80 with immediate access off of Interstate 287.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, associate directors Michael Oliver and Stephen Simonelli and supported by senior managing director Andrew Scandalios.

Kevin O'Hearn
“Investors continue to search for office assets where they can add a significant amount of value through lease-up and expense management,” Cruz said. 

 “90 East Halsey provides flexible floor plates and very good highway access, which is why we had multiple bids for the asset.”

"I am excited for Boxer to continue to grow its presence in the New Jersey market with such a high quality building,” director of acquisitions for Boxer Property Brad Nichol said.

 “The building presents a stable platform and a great opportunity for Boxer to increase value through our attentive management and leasing teams with a variety of available office suites from 1,000 to 36,000 square feet.”


 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 closes sale of YouTube Headquarters in San Bruno, CA


You Tube Headquarters, 900 and 1000 Cherry, San Bruno, CA

SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 900 and 1000 Cherry, a two-building, core-quality, Class A office campus that functions as the world headquarters for YouTube in San Bruno, California.

HFF marketed the property on behalf of the seller, a fund managed by Cornerstone Real Estate Advisers.    

Steven Golubchik
900 and 1000 Cherry are situated on 8.15 acres within the Bayhill Office Park, directly adjacent to Interstates 280 and 380 in the Bay Area city of San Bruno. 

This location has immediate access to U.S. Highway 101 and Highway 82 and is close to the San Francisco International Airport as well as the San Bruno BART and Caltrain stations, providing access to the entire San Francisco Bay Area.  

Both properties are 100 percent leased to Google through 2022 and serve as YouTube’s world headquarters.

 As such, the properties feature highly improved video/audio suites, high-end office finishes featuring a variety of creative spaces and conference rooms, and a one-of-a-kind “Immersion Room”, which simulates a 360-degree video stream. 

The six- and three-story buildings also offer tenants two full-service cafeterias, kitchen/pantry suites with lounge areas on each floor, a fitness center with lockers and showers, bike room with storage, and a multi-functional conference room for corporate events and executive retreats. 

The HFF investment sales team representing the seller was led by senior managing director Steven Golubchik.

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 $10.15 million acquisition financing for Dallas-Fort Worth area neighborhood retail center


Ruisseau Village, 3303--3309 North Central Expressway, Plano, TX

 
Kevin Mackenzie
IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $10.15 million in first lien financing for the acquisition of Ruisseau Village, a 124,567-square-foot neighborhood retail center in Plano, Texas.

HFF worked on behalf of the borrower, a private real estate investor, to place the 10-year, fixed-rate loan through Morgan Stanley Bank, N.A. 

Located at 3303-3309 North Central Expressway, Ruisseau Village is situated on 12.615 acres in Plano, the fourth largest city in northern Texas.

 The center is positioned at the northwest corner of West Parker Road and North Central Expressway, which connects Plano to downtown Dallas and is one of the main thoroughfares in the Dallas-Fort Worth Metroplex. 

Ruisseau Village is near numerous residential neighborhoods and is three miles south of CityLine Plaza, a new 2.3 million-square-foot mixed-use residential, retail and hotel development that is being constructed. 

Renovated most recently in 2014, the center consists of two single-story buildings leased to Top Golf, Hertz, Boxes to Go, Monarch Dental, Jazzercise, Kelly Moore Paints, The Mum Shop, Rover Dramawerks and a variety of restaurants, including Bavarian Grill and A-Star Buffett.  The center is shadow-anchored by Burlington Coat Factory.

Greg Brown
The HFF debt placement team representing the borrower consisted of senior managing director Kevin Mackenzie, associate director Greg Brown and director Jim Curtin.

“We were very happy to secure excellent fixed-rate financing terms on behalf of our client during a tumultuous time in the capital markets,” Brown said.  

“HFF worked closely with the lender in order to provide the structure needed for the borrower to execute its business plan and closed per the terms in the initial application despite market volatility.”


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

Four-campus office portfolio in San Diego, CA trades for $258 million via HFF

  
Governor Pointe Campus, 6200 and 6220 Greenwich Drive, San Diego, CA


 
Nick Psyllos
SAN DIEGO, CA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $258 million sale of four office campuses totaling nine buildings and 933,134 square feet in San Diego, California. 

HFF marketed the sale on behalf of Kilroy Realty Corporation. 

The office portfolio consists of Sequence Technology Center, 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge, 10770 Wateridge Circle; Sorrento Gateway, 4921 Directors Place; and Governor Pointe, 6200 and 6220 Greenwich Drive.

The properties were 83 percent leased as of their respective closing dates and include two- and three-story office buildings located in central San Diego’s Sorrento Mesa and Governor Park office submarkets in the hearts of San Diego’s technological centers. 

Two of the nine buildings were vacant as of July, and the remaining seven buildings were leased to tenants in technology-based industries.

The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos and Ryan Gallagher, senior managing director and co-head of both the San Francisco office and HFF’s national office investment sales platform Michael Leggett and director Nick Frasco.


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


Berger Commercial Realty Closes Three New Leases at Deerfield Beach Enterprise Commerce Center Totaling More Than 55,000 Square Feet


Roxanna Collins
FORT LAUDERDALE, FL  - Broker Associate Roxanna Collins of Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently closed three new leases totaling 55,855 square-feet of industrial space on behalf of landlord Mancini & Sons Florida.

 The transactions were for spaces within the Enterprise Commerce Center, located at 1901 Green Road in Deerfield Beach.

 Collins successfully closed:

the new lease of 26,925 square-feet to Farm Fresh Packers, LLC in bays A, B, and C;
the new lease of 20,171 square-feet of space to USP Motorsports, Inc. in bays E and F;
and the new lease of 8,759 square-feet of space to BDI-USA, Inc.

The 76,381-square-foot Enterprise Commerce Center includes industrial, warehouse, and flex space. The new leases bring the building to 88 percent occupancy.

Enterprise Commerce Center, Deerfield Beach, FL
The building features 24-foot ceilings, dock-level doors, tilt-wall concrete construction and a wrap-around glass front fa├žade.

 It is located on the Wiles Road extension and is within minutes of major highways, shopping, and restaurants.

 The building is a part of a portfolio consisting of 220,667 square-feet in Broward County that is managed and leased exclusively by Berger Commercial Realty. 

Collins currently oversees leasing for the portfolio. For more information about leasing at Enterprise Commerce Center, call (954)-358-0900.

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

954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com


McGrath Family Sells Legacy Asset in San Diego, CA


McGrath Family Retail Portfolio, San Diego, CA
San Diego, CA  -- The McGrath Family, known in San Diego as pioneers in construction and real estate, have announced the sale of a portion of their retail portfolio encompassing 294,428 square feet in the Kearny Mesa submarket of San Diego, California to a commingled fund managed by Clarion Partners, working with existing partner HP Investors, LLC. 

The portfolio was 100% leased at the time of the acquisition.

The McGrath Retail Portfolio is located along Clairemont Mesa Boulevard and Shawline Drive, just off of Interstate 805.


Randy LaChance
The portfolio, which is situated on 29.07 acres and comprised of six single-tenant leased retail properties and one retail strip center, is tenanted with some of the most sought after national retailers in the market, including Wal-Mart, LA Fitness, McDonald’s, Food 4 Less, Starbucks, Verizon, and Chipotle, among others.

 “The timing was right for this sale and it worked for us in terms of our long-term goals,” said Laurie McGrath, President of McGrath Development, Inc.

“While real estate development has been challenging, fun and certainly rewarding, we have other things that we would like to accomplish. Our larger goal will be growing our Foundation as well as pursuing redevelopment of some of our other properties.”

The McGrath family has owned the land on which the McGrath Retail Portfolio is situated since the late 1940s.  

In 1990, McGrath broke ground on the development of the McGrath Center, a 50 acre mixed-use project originally approved to include 1,500,000 square feet of office, retail and R & D uses. 

The plan was later revised to include mostly retail uses and a 100,000 square foot industrial “flex” building.  

Mark Caston
Randy LaChance, Senior Vice President, SIOR and Mark Caston, Senior Vice President, both of Voit Real Estate Services, represented the seller, McGrath.

“There is a tremendous pride of ownership that is evident in this portfolio,” said Randy LaChance. “I’ve had the opportunity to work with the McGrath family for 25 years, and I’ve seen the fine quality and attention to detail that they put into their assets.”

LaChance continues, “For prospective buyers, this was a once-in-a-lifetime opportunity to acquire a large retail portfolio in central San Diego. 

"We garnered tremendous interest and activity throughout the sale process, and ultimately identified a buyer that the McGrath family felt would continue the legacy of this special project.”

“This is a core real estate asset in San Diego.  It has maintained an occupancy of over 97% since 2001.  The portfolio has a great mix of credit tenants from the big box tenants to the in-line space,” added Caston, Voit’s retail leasing expert.

Clarion Partners, a real estate investment manager headquartered in New York, together with San Diego based HP Investors, acquired the retail portfolio for $107.15 million on behalf of one of its commingled funds.  The Clarion / HP team represented themselves in the transaction.

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

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




NAI Realvest Negotiates $300,000 Sale of 22+ Acres of Agricultural Land in Mount Dora, FL

  
Jason G. Toll
MOUNT DORA, FL — NAI Realvest recently negotiated a $300,000 sale price for 22.16 acres of agricultural land on Round Lake Road in Mount Dora. 

Jason G. Toll, director of industrial services at NAI Realvest, negotiated the transaction on behalf of the seller Susan K. Bird of Fernandina Beach, Fla.

Orlando-based Daryl M. Carter, Trustee, is the buyer who purchased the property for future residential development.  

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


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

Rhodes+Brito Architects awarded contract to renovate Orange County Convention Center in Orlando, FL


Orange County Convention Center
Orlando, FL
ORLANDO, FL --- Rhodes+Brito, an Orlando architectural firm, was recently awarded a contract for a major renovation project at the Orange County Convention Center.

Max Brito, co-founder and partner at Rhodes+Brito, said the renovation, which will start Sept. 1, has been estimated to cost $5 million. 

Renovation work will include lighting, mechanical projects and interior finishes, Brito said.   The project will involve converting meeting rooms into offices, he added.

Rhodes said Rhodes+Brito was also awarded a continuing architectural services contract with Orange County.  The contract covers miscellaneous design services Rhodes+Brito will provide the County, including original design and renovations work not to exceed $2 Million.

That contract is slated to begin this October.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including seven registered architects. The firm has exceptional experience providing architectural services to a wide variety of agencies thorough the state of Florida, including municipal government agencies, federal, education, aviation and senior living facilities.

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


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