Thursday, January 14, 2016

Tracy Worrell with Crossman & Co. Negotiates Five New Leases at Retail Shopping Centers in Pasco County, FL

Tracy Worrell
Land O’Lakes, FL -- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently represented the landlords in four new lease agreements with restaurant and retail tenants at three shopping centers in Pasco County. 

Senior Associate Tracy Worrell negotiated three leases at the Shoppes of Dade City, a new Publix-anchored shopping center that opened in the fourth quarter of 2015.  

Worrell said Burger King leased a one-acre parcel located at the northeast corner of Clinton Ave. and US Hwy 301, and plans to open sometime this year. 

Other tenants Worrell negotiated leases with at Shoppes of Dade City include Lee Nails and China King.

At Collier Commons in Land O’Lakes anchored by Publix and Belk Department Store, Worrell completed a lease agreement with Jersey Mikes for 1,400 square feet. Worrell said there is high demand to join Collier Commons and there is only one retail opportunity that remains available. 

At Hays Road Town Center in Hudson, anchored by Publix, Worrell leased a 1,400 square foot unit to Mach Dentistry.  

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781

HFF closes sale of Ritz-Carlton Georgetown, Washington, DC hotel

Ritz Carlton Georgetown, Washington, DC

Cyrus Vazifdar
WASHINGTON, DC, Jan. 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Ritz-Carlton Georgetown, Washington, D.C., an 86-room, full-service, luxury hotel in the Georgetown area of Washington, D.C. 

HFF marketed the property on behalf of the seller.  An undisclosed buyer purchased the hotel.

The Ritz-Carlton Georgetown was renovated in 2014 and features 34 suites, including five luxury suites, as part of its 86 guest rooms. 

The hotel features seven indoor and outdoor function spaces totaling 6,948 square feet, a 24-hour fitness center, business center, boutique spa and two restaurant and bar options, Degrees and The Living Room. 

Situated in the epicenter of Georgetown, the hotel is located at 3100 South Street NW in an iconic, historic neighborhood in Washington, D.C. with high-end retail, trendy restaurants and educational centers, including Georgetown University.

Daniel C. Peek

 The hotel is just off 31st Street and steps from both M Street and Washington Harbour, a mixed-use office, retail and residential development on the Potomac River.

The HFF investment sales team representing the seller was led by director Cyrus Vazifdar in addition to senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and director Alan Suzuki.

“Washington, D.C. is one of the most dynamic lodging markets in the country, and the next several years look extremely promising in the district as fundamental performance improves and transaction volume increases,” Vazifdar said. 

“With such a dearth of properties in Georgetown, it’s rare an opportunity arises to gain entrance into the market, particularly the caliber of the Ritz-Carlton.”

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

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Avison Young releases 2016 Canada US and UK Commercial Real Estate Reports

Sherry Quan
VANCOUVER, BRITISH COLUMBIA, CANADA – Avison Young has released its 2016 Canada, U.S. and U.K. Commercial Real Estate Reports.

The company states, ”As the books close on another strong year for commercial real estate, 2016 opens differently – with some uncertainty and unresolved questions that could impact the way owners and occupiers invest and operate.

“The variables, however, are both positive and negative. To successfully navigate the real estate markets in 2016, stakeholders will need to keep a global perspective, stay abreast of changes in the broader environment and, increasingly, devise innovative solutions to complex problems.

These are some of the key trends noted in Avison Young’s 2016 Canada, U.S. and U.K. Forecast:

• Click here to view Avison Young’s 2016 Canada, U.S. and U.K. Forecast, FULL REPORT:

• Click here to view Avison Young CEO Mark Rose’s 2016 Commercial Real Estate Forecast VIDEOCAST, covering market trends in North America and Europe: (video will be live on Thurs. morning)

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

Sherry Quan
Principal and Global Director of Communications and Media Relations
Avison Young
#2900-1055 West Georgia Street
P.O. Box 11109 Royal Centre
Vancouver, BC V6E 3P3, Canada

Crossman & Co. Closes on New Leases at Three Retail Centers in Lakeland, FL and Mulberry, FL

Rochelle DuBrule
ORLANDO, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated leases at retail centers in Lakeland and Mulberry in Polk County. New tenants leased over 4,200 square feet.

At Huntington Hills Plaza, 2905 Duff Rd in Lakeland, Senior Leasing Associate Rochelle DuBrule negotiated a lease with 716 Burgers & Brews for 2,000 square feet.  The 18,000 square foot retail center is across from Huntington Hills Golf & Country.

Senior Leasing Associate Sandra Woodworth negotiated a new lease for 1,320 square feet at Lake Miriam Square in Lakeland at 4730 S. Florida Ave.  California-based Mathnasium, a customized math tutoring service for K-12 children, is the tenant who was represented in the transaction by Jason Toll of NAI Realvest.   Lake Miriam Square is  now 98 percent leased.

Woodworth also negotiated a new lease with Video Game Mania for 1,004 square feet at Imperial Lakes Plaza, 2040 Shepherd Rd. in Mulberry.  Imperial Lakes is currently 95 percent leased.

For more information, please contact
Sandra Woodworth, Senior Leasing Associate, Crossman & Company, 813-210-7509
  or Rochelle DuBrule, Senior Leasing Associate Crossman & Company 407-581-6248

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

Beth Payan Larry Vershel Communications, 407-644 4142 or 407-461 3781

Intercontinental Real Estate Corporation and MG Properties Group Acquire 350–Unit Value-Add Apartment Community In Growing Southern California Market

Carmel Hacienda Heights Apartments, Hacienda Heights, CA

Jessica Levin
 Los Angeles, CA – Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development, and management firm headquartered in Boston, MA, and MG Properties Group (“MG”), a private San Diego-based real estate investor and operator, have announced their acquisition of the 350-unit Carmel Hacienda Heights Apartments in Hacienda Heights, California.

Hacienda Heights is a central location with convenient access to downtown Los Angeles, Orange County, and Inland Empire job corridors. 

The buyers are rebranding the property as The Hills at Hacienda Heights, and plan to execute a renovation program to upgrade unit interiors, common areas, the property exterior, and to address deferred maintenance items, according to Jessica Levin, Intercontinental’s Director, Acquisitions, based in Los Angeles.  

The seller was represented by Sean Deasy and Mark Petersen at HFF. The buyers represented themselves.  The acquisition was financed with a 10-year fixed-rate mortgage from Freddie Mac, arranged by Brian Eisendrath at CBRE. 

Mark Gleiberman
“In addition to Hacienda Heights’ central location surrounded by a dynamic set of employment drivers, the property is poised to benefit from further economic growth in the region and is well suited for our long-term value-add investment strategy,” says Levin.

According to Mark Gleiberman, MG’s Chief Executive Officer, “The Hills at Hacienda Heights is an excellent addition to our existing portfolio in Los Angeles and the Inland Empire, allowing us to further benefit from efficiencies of scale in the region.

“We continue to see that the Southern California market has strong potential for further growth in the current economic recovery and we are actively seeking additional investment opportunities here.”

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

 Jenn Quader or Katie Kea
 (949) 955-7940

Twitter @HFF

“Mobility Concierge” An Innovation of North American Properties New Initiative Dedicated to Improving Mobility in Midtown Atlanta, GA

Shannon Powell
ATLANTA, GA  – Showing its commitment to alternative transportation in a bold way, North American Properties (NAP) is announcing the creation of a full-time “Mobility Concierge” at Colony Square, the iconic mixed-use development in Midtown Atlanta.

The new Concierge will work with tenants, guests and the greater Midtown community to identify customized transportation and mobility solutions and incentivize their use. 

In addition, NAP will install several TransitScreens that provide real-time transportation options to further encourage the adoption of mobility alternatives.

Located at the intersection of 14th and Peachtree Streets, often referred to Main and Main, Colony Square has the highest pedestrian count in the City outside of Georgia Tech’s campus.

 In addition, Midtown is one of the most walkable neighborhoods in Atlanta, with a walk score of 84. It also has strong access to public transportation and is bicycle-friendly, with a bike score of 76.

“We are a nexus of bike lanes, streets, sidewalks and transit,” said Mark Toro, managing partner of NAP and Midtown resident who often walks to work. “On any given day, you are bound to see several Ubers waiting in Colony Square’s roundabout. The Mobility Concierge will readily help the community utilize these transportation alternatives in order to make Midtown a more mobile community and give our tenants, guests and residents a better quality of life.”

Mark Toro
A recent poll by Urban Land Institute (ULI) found that transit access is important for about 80 percent of Millennials. According to the Midtown Alliance, approximately half of the neighborhood’s residents are Millennials, and the population is expected to grow.

“Walkability, bikability and accessibility to public transit are huge motivators for the new generation of office workers and in town residents,” said Shannon Powell, executive vice president and COO of Midtown Alliance.

“NAP’s unique mobility initiative will make Colony Square and the greater Midtown community a better place to work, live and spend time. Their Mobility Concierge will work hand-in-hand with our team at Midtown Transportation to heighten awareness of options.”

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

Liana Moran
The Wilbert Group