Thursday, February 25, 2016

HFF closes sale of 270-unit apartment community in south Houston, TX

Ranch at City Park, 11900 City Park Central Lane, South Houston, TX

Chris Curry
HOUSTON, TX – Feb. 25, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Ranch at City Park, a 270-unit, Class A multi-housing community in south Houston.

HFF marketed the property exclusively on behalf of the seller, Gaia Real Estate.  A Chicago-based private equity group purchased the asset for an undisclosed amount.

Ranch at City Park is situated on 13.76 acres at 11900 City Park Central Lane, approximately 10 miles south of Houston’s central business district. 

In addition to its location along Highway 288, the property provides nearby access to other major thoroughfares including Beltway 8, Loop 610, the Fort Bend Parkway Toll Road and Highway 90. 

The property has one- and two-bedroom units averaging 893 square feet each and features amenities including a resort-style swimming pool, outdoor fireplace, picnic and grilling area, 24-hour fitness center, clubhouse, game room with billiards table, theater room, cyber café and detached garages.

The HFF investment sales team representing the seller was led by managing director Chris Curry, senior managing directors Todd Stewart and Todd Marix and associate director JC Clemens.

 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 |

HFF secures $100.2 million financing for 3.9 million-square-foot industrial portfolio in Indianapolis, IN

Matthew Schoenfeldt
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $100.2 million in acquisition financing for an eight-property, Class A industrial portfolio totaling 3.9 million square feet in the Indianapolis metropolitan area. 

HFF worked on behalf of the borrower, a joint venture between Biynah Industrial Partners, L.L.C. and Olympus Ventures, to place the 10-year, fixed-rate loan with an international life insurance company.  HFF will service the loan, which was used to purchase the portfolio.

The institutional-quality assets were built between 1997 and 2013 and range in size from 282,000 to 1.3 million square feet with clear heights of 28’ to 32’.  

The portfolio is more than 95 percent leased to a roster of credit-rated tenants, including Sur La Table, OHL/GEODIS and the United States Postal Service.

 The eight buildings that comprise the portfolio are situated on a total of 209 acres on the western side of Indianapolis.  The four Plainfield properties – 1100 and 1101 Whitaker Road, 2450 Stanley Road and 3100 Reeves Road – and three of the Indianapolis facilities – 7451 and 7452 Tempelhof Drive and 710 South Girls School Road – are proximate to Indianapolis International Airport, home of the second largest FedEx hub in the world.

Ken Martin
 The Brownsburg facility, 901 East Northfield Drive, is located just off Interstate 74, which connects Indianapolis to the central Illinois, Iowa and Chicago markets.

The HFF debt placement team was led by managing director Matthew Schoenfeldt and director Ken Martin.

“This debt placement effort ranks among the most competitive in my two-decade career,” Schoenfeldt said.  “The blue-chip life company lender who won the assignment stepped-up in impressive fashion, differentiating themselves with a combination of blockbuster terms and the smooth, seamless delivery on which they have built their impeccable reputation.”

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 |

HFF closes $23.5 million sale of Southern California Sprouts Farmers Market store

Sprouts Farmers Market, Culver City, CA

Gleb Lvovich
 NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23.5 million sale of a single-tenant, 32,873-square-foot building fully leased to Sprouts Farmers Market in the Southern California community of Culver City, California.

HFF marketed the property on behalf of the seller, Niki Properties.  An undisclosed buyer purchased the asset in what is, according to HFF, a record pricing for the sale of a single-tenant Sprouts Farmers Market (Sprouts). 

The trophy property is triple net leased to Sprouts, a natural and organic food retailer, through 2025.  Situated on 2.63 acres at 5660 West Sepulveda Boulevard, the asset’s infill location is proximate to where the 405 Freeway and State Road 90 intersect, which have combined daily traffic counts of approximately 450,000 vehicles. 

The Sprouts property is in an affluent area of Culver City, a community 10 miles west of downtown Los Angeles, with median home values reaching $687,278 within a three-mile radius.

Nick Foster
  The building is located directly across the street from Westfield Culver City, a one million-square-foot regional mall, and shares a parking lot with Office Depot, Bevmo and Bunnin Chevrolet of Culver City.

The HFF investment sales team representing the seller was led by Gleb Lvovich, Nick Foster, CJ Osbrink and Bryan Ley.

“As one of the top-performing Sprouts locations chain-wide, coupled with a core location in Los Angeles, the offering received tremendous interest from the entire investment community,” Lvovich said.

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 |

HFF closes sale of Hilton Key Largo Resort hotel in the Florida Keys

Hilton Key Largo Resort, Key Largo, FL
Daniel C. Peek

TAMPA, FL -– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Hilton Key Largo Resort, a 200-room waterfront resort in Key Largo, Florida.

HFF marketed the property on behalf of the seller and completed the sale to KHP Capital Partners.  Davidson Hotel Company will assume management post-closing.

The Hilton Key Largo Resort is situated on a 13.1-acre parcel with 850 feet of Florida Bay frontage in Key Largo, the first and largest of the Florida Keys.

  Located at 97000 South Overseas Highway, the hotel is less than 70 miles from Miami International Airport and near the John Pennekamp State Park, the only living coral reef along the continental United States, and numerous fishing and watersports attractions. 

Max Comess
Consisting of three four-story buildings connected by covered walkways on each floor, the resort features a private beach, 21-slip marina, two outdoor heated pools, two tennis courts and watersports rentals.

 The property also includes approximately 18,000 square feet of indoor and outdoor event space, Treetops Bar & Grille, Splashes Pool Bar and Waves Beach Bar.  

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Max Comess and associate director Alexandra Lalos.

“Florida hotels are continuing their trend of exceptional performance into 2016,” Peek said.  “Increases in group travel and diminishing seasonality have translated into strong institutional interest for resorts, particularly in extreme barrier-to-entry markets such as the Florida Keys.”

“Key Largo in particular seems to be emerging as a new high-end resort destination in South Florida,” Comess added.  “The same transformation and flight to quality that occurred in Key West and Islamorada in recent years appears to be happening in Key Largo, the closest of the Florida Keys to Miami.”

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 |

HFF secures construction loan for built-to-suit Class A office development in Dallas’ Cypress Waters master planned community

Trey Morsbach
DALLAS, TX –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured construction financing for the development of a 325,600-square-foot, built-to-suit, Class A office development for CoreLogic in Dallas, Texas.

Working on behalf of Billingsley Company (Billingsley), HFF placed the fixed-rate construction/perm loan with Regions Bank.  The financing includes a two-year construction loan plus multiple extension options. 

This is the fourth financing HFF has secured for Dallas-area developments for Billingsley in the last year, including arranging the construction loan for 7-11’s corporate headquarters within Cypress Waters.

Due for completion in April 2017, the four-story property will be fully leased to CoreLogic, a leading global property information, analytics and data-enabled services provider based in Irvine, California. 

The CoreLogic build-to-suit is situated within Billingsley’s Cypress Waters master-planned community, a 1,000-acre waterfront development with office, multi-housing and retail in the central part of the Dallas-Fort Worth Metroplex. 

Jim Curtin
Located on 20.85 acres at the intersection of Hackberry Road and Ranch Trail, the property is positioned along the LBJ Expressway (Interstate 635) corridor less than three miles from the north entrance of DFW International Airport.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and director Jim Curtin.

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 |

Lincoln Property Company Promotes Three Within Atlanta Office

Michael Howell
ATLANTA, GA  – Lincoln Property Company (Lincoln), one of the nation’s largest diversified commercial real estate companies, continues to build on its success with the promotion of three talents in its Atlanta office.

Michael Howell and Hunter Henritze, who currently co-lead the company’s office leasing practice, are both being promoted to senior vice presidents, where they will continue in their current positions but will broaden their roles within the Georgia region.

“Michael and Hunter are tremendous assets to our team and have delivered outstanding performance for the clients we serve while demonstrating invaluable leadership within our team,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office. 

“They are each richly deserving of this promotion, and I look forward to growing and improving our business platform with them for many years to come,”

Hunter Henritze
Additionally, Jeff Henson, a senior leasing agent, will be promoted to vice president in Lincoln’s office leasing group. Henson specializes in representing landlords in suburban  Atlanta with the leasing and brokerage  of single-story and mid-rise office and flex industrial properties.  

“Jeff is one of the most tenacious, aggressive and innovative sales professionals in our office,” Bartlett said. “No one works harder on behalf of his clients and his approach and efforts have helped us grow our market share in this product type.”

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

Savannah Durban
The Wilbert Group

Harvard and Lincoln Buy, Build to Assemble 425,000 SF Waypoint Campus in Arizona

Aerial rendering of planned Waypoint office development
on borders of Tempe, Scottsdale and Mesa, AZ

PHOENIX, Feb. 24, 2016 – With the just-closed, $34.34 million office acquisition of Riverview Point, Harvard Investments and Lincoln Property Company (LPC) will combine new construction with existing buildings to establish a 425,861-square-foot, Class A office campus at the borders of Tempe, Scottsdale and Mesa, Arizona.

The new development, branded collectively as Waypoint, will combine Harvard and LPC’s recently delivered Waypoint One Class A office building, their soon-to-break-ground Waypoint Two Class A office building and the existing, two-building Riverview Point portfolio. The result is a four-building business campus situated on 34.53 acres along the Loop 202 and adjacent to Mesa Riverview, a 1.3 million-square-foot retail, hospitality and entertainment complex.

Dave Krumwiede
“With this activity, we’re establishing an almost half-million-square-foot office destination within one of the Valley’s brightest business corridors,” said Craig Krumwiede, President of Harvard Investments. “It is a tremendous opportunity to create a very strong new portfolio asset in the market.”

Developed in 2008, Riverview Point consists of two, two-story office buildings totaling 164,861 square feet at 1138 and 1146 N. Alma School Rd. in Mesa. The project is 98 percent leased to tenants including Ashton Woods, Mitel Corporation, Udall Shumway PLC and the corporate headquarters for Nextcare. Harvard and LPC will roll out a building renovation plan at Riverview Point that includes new paint, interior renovations and new monument signage to build the cohesive Waypoint brand.

The newly acquired buildings sit adjacent to Waypoint One, a two-story, 108,000-square-foot Class A project that was developed and fully pre-leased last year by Harvard and LPC. 

Located at 1150 N. Alma School Rd. in Mesa, Waypoint One is now 100 percent occupied by American Traffic Solutions (ATS). ATS moved into Waypoint One in November, consolidating approximately 500 employees from Scottsdale and Tempe to create a new corporate headquarters.

Craig Krumwiede
In March, Harvard and LPC will break ground on Waypoint Two, a 152,000-square-foot Class A office building adjacent to Waypoint One at 1130 N. Alma School Rd. in Mesa. Waypoint Two is designed to accommodate single- and multiple-occupancy users. 

Like Waypoint One, it will provide a “high-tech” aesthetic with clean lines, timeless materials, simple detailing, bright and open lobbies and workspaces, and abundant parking.

“On its own, Riverview Point is a successful project that is almost fully leased to a roster of stable tenants. Waypoint One adds the vibrancy of American Traffic Solutions and Waypoint Two gives us the runway to expand on that vibrancy,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “By controlling this entire site, we have the flexibility and freedom to build a very distinct and modern office footprint in the East Valley.”

The new four-building Waypoint campus sits just six miles east of Phoenix Sky Harbor International Airport, with convenient access to Loop 101 at Rio Salado Parkway and the Loop 202 at Dobson and Alma School roads.

 Waypoint is less than one mile from the new Cubs Spring Training Facility and the newly reconfigured Riverview Park. It joins an established business and hospitality environment that includes the mixed-use Mesa Riverview, a Hyatt Place Hotel and a 180-room, upscale brand Sheraton Hotel with amenities including full-service restaurants, bars, swimming pool, fitness facility and more than 30,000 square feet of meeting and event space.

Barry Gabel
Barry Gabel and Chris Marchildon of CBRE represented the seller, R&R Riverview LLC, in the Riverview Point transaction. The financing partner is BMO Harris.

LPC will manage all four buildings at the project, adding Waypoint to its more than 8 million-square-foot Phoenix property management portfolio.

To discuss leasing at Waypoint, contact Dave Carder or Luke Walker of CBRE at (602) 735-5555.

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

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

Passco Secures Four National Retail Tenants in Handford, CA Asset

Todd Siegel
HANFORD, CA (Feb. 25, 2016) – Passco Companies, LLC has secured four national retail tenants for its retail asset, Hanford Mall in Hanford, California; Buffalo Wild Wings, Five Guys, Dunkin Donuts, and Pieology.

“As a retail owner since our inception in 1998, Passco has always found new ways to optimize our retail assets,” says Todd Siegel, Vice President Retail of Passco Companies. 

“This property is no exception.  These new restaurant tenants will draw new and repeat consumers, which will ultimately increase net operating income and improve overall property value over time.”

Siegel notes that a focus on dining and experience tenants continues to be a priority for retail owners in today’s market.

“Retail turnarounds are a specialty for our team,” Siegel says.  “We are experienced in transforming large retail centers, and we are able to draw upon that strategic knowledge to create value in our mall assets as well.”

Hanford Mall, located at 1675 West Lacey Blvd. in Hanford, is anchored by Kohls, Forever 21, Sears, JC Penney, and Cinemark 8.

Passco’s new tenants Buffalo Wild Wings, Five Guys and Pieology are already under construction, with planned openings in Summer 2016.  Dunkin Donuts is set to begin construction shortly.

“Each of these new leases demonstrates our ongoing strategy to ensure long-term stabilized growth in our Hanford Mall asset, ultimately delivering strong returns to our investors,” says Siegel.

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

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

Judy Dolan of Berger Commercial Realty Promoted to Senior Vice President

Judy Dolan
 FORT LAUDERDALE, FL (Feb.  25, 2016) – Berger Commercial Realty recently announced the promotion of Judy Dolan to senior vice president.

With more than two decades of experience in commercial real estate, Dolan was promoted to vice president in 2009 after joining Berger Commercial Realty as a broker associate in 2006.

Licensed by the Florida Bar, her background as a real estate closing attorney complements her experience in commercial sales and leasing. 

Dolan’s notable assignments include Lyons Technology Center, Merrill Industrial Center, the Executive Airport Business Center and Plantation Technology Park.

In 2015, she represented Resolve Marine Group in the $8.9 million purchase of Harbor Place, a 36,000-square-foot office building located at 1600 S.E. 17th St. in Fort Lauderdale. Following the transaction, Resolve Marine Group retained Berger Commercial Realty to lease and manage the building.

 She has also represented Resolve in a number of other real estate transactions over the past five years, including the company's original 2012 lease at Harbor Place.

Harbor Place, Fort Lauderdale, FL

A long-time resident of Broward County, Dolan’s community affiliations include founding the Women’s Chamber of Commerce and serving as chairwoman. 

She is past president of the American Business Women’s Association, a member of the Greater Miami Board of Realtors, and a volunteer at Harbordale Elementary. 

Her accolades include “Member of the Year” and “Woman of the Year” awards from the American Business Women’s Association, “Member of the Month” and Pinnacle Award distinctions from the Miramar/Pembroke Pines Chamber of Commerce, and CoStar Power Broker recognition from 2007 through 2010.

Dolan earned her Juris Doctor from University of Miami School of Law and received a Bachelor of Science in Criminal Justice from Rowan University in Glassboro, N.J.

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

Pierson Grant Public Relations
Lexi Robinson, ext. 255,

Marielle Sologuren, ext. 226,