Wednesday, April 27, 2016

The Procaccianti Group Promotes Paul Sacco to President and Chief Development Officer of TPG Hotels and Resorts


Paul Sacco


 Cranston, RI — The Procaccianti Group, a privatelyheld real estate investment and management company, today announced the promotion of Paul Sacco to president & chief development officer of its dynamic and newly-named hotel division, TPG Hotels & Resorts.


Jim Procaccianti
While he continues to focus on driving the overall growth of the company, in his new role as president, Sacco will help lead the overall strategic direction of TPG, which currently operates 60 hotels nationally with over $840M of hotel revenues under management.

“Paul has demonstrated a strong ability to strengthen relationships with our constituents, as well as open doors to new investment partners because of his proven track record and extensive industry relationships,” said Jim Procaccianti, president and CEO of the Procaccianti Group.

 “Paul has helped us accelerate from a well-known hotel real estate investment company into a true force within the hospitality management industry. TPG has evolved into a sought-after hotel management powerhouse, both for our existing and new capital partners.

“ We have every confidence that Paul will continue to lead TPG Hotels & Resorts’ growth into the future.”


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

Chris Daly, media
(703) 435-6293




Super 8 Welcomed to Germany by Munich’s Rising Stars of Music, Food, Drink and Technology


Daniel Ruff
MUNICH, GERMANY  – Live music, artisan cocktails, fashionable street food and a lively atmosphere: on April 21st, Wyndham Hotel Group announced the opening of the first Super 8 hotel in Germany, located in the fashionable Laim district of Munich.

To celebrate the hotel’s grand opening, around 150 guests attended a celebration at the new Super 8 Munich City West on Landsbergerstra├če, where they were introduced to other local newcomers and rising stars in the fields of music, food and beverage, and technology.
                     
 "Munich is a bustling metropolis brimming with new ideas and innovative business models, as evidenced by the tremendous local talent showcased at our grand opening celebration" says Daniel Ruff, President and Managing Director EMEA for Wyndham Hotel Group.

 "Super 8 Hotels are modern and fit in well with the city, its fast-paced development and the discerning taste of guests from all over the world who visit. Super 8 hotels are equipped to meet international standards at a high level while also always emphasizing the unique

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

Hannah Gray
Publicasity
wyndham@publicasity.co.uk
+44 20 3757 6800


HFF closes $29.75 million sale of Nassau County, Long Island office building


Jericho Atrium Office Building, 500 North Broadway, Jericho, NY

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Jericho Atrium, a 148,563-square-foot office building in Jericho, New York, a hamlet in Nassau County, on Long Island’s North Shore.

HFF marketed the property on behalf of the seller, Metropolitan Realty Associates, LLC and Angelo Gordon & Co., L.P.  The buyer was a Long Island-based real estate company who purchased the asset for $29.75 million. 

Located at 500 North Broadway, Jericho Atrium is convenient to The Long Island Expressway; Northern State, Meadowbrook and Wantagh Parkways; and the Seaford-Oyster Bay Expressway, providing access to Long Island’s North and South Shores, Manhattan and the other New York City boroughs. 

The two-story property is situated on 8.6 acres and offers parking for 690 vehicles.  Building amenities include a fitness center, conference center, daytime concierge and a location adjacent to Whole Foods, Starbucks and Marshall’s among others.

 Jericho Atrium is 88 percent leased.  Notable tenants include American Investment Planners, Clinical Trial Media, NMS Management and Elias Properties.

The HFF investment sales team was led by senior managing director Jose Cruz and managing directors Kevin O’Hearn and Evan Pariser.

“This was a strategic purchase for the new owner.  The property itself offers current stability and upside for the buyer including the pad site,” stated Cruz.


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

Kristen M. Murphy
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 expands its Portland, OR investment sales team with the addition of Brian Hanson


Brian Hanson
PORTLAND, OR  -– Holliday Fenoglio Fowler, L.P. (HFF) announced Brian Hanson has joined its Portland office as a director focused on multi-housing and middle market investment sale transactions in Portland and the Pacific Northwest.

Mr. Hanson joins HFF from ScanlanKemperBard Companies where he was most recently a vice president. 

Prior thereto, he worked for Massey Knackal Realty Services as a first vice president of sales, and later, a commercial real estate consultant.  Mr. Hanson completed his undergraduate degree at Boston University and holds a master’s degree in real estate finance from New York University.  

“We are very excited to welcome Brian to our growing Portland and West Coast team, and look forward to his contributions to HFF in 2016 and beyond,” said Nicholas Kucha, senior managing director and co-head of HFF’s Portland office.


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

Kristen M. Murphy
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 downtown San Diego, CA Class A office tower


610 West Ash Office Tower, Little Italy Neighborhood, San Diego, CA


 
Nick Psyllos
SAN DIEGO, CA -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 610 West Ash, a 19-story, 177,489-square-foot, Class A office tower in San Diego’s Little Italy neighborhood.

HFF marketed the property on behalf of the seller.  A partnership between Gemini Rosemont and Central Properties purchased the asset for an undisclosed amount.

610 West Ash is located in San Diego’s Little Italy neighborhood, which is an urban mixed-use community within the downtown submarket.  

The property is the only Class A high-rise office building in Little Italy and is 98 percent leased to tenants including ESET, Department of Homeland Security and the Environmental Protection Agency.  610 West Ash also features a nine-level, 397-space parking garage.  

The HFF investment sales team representing the seller was led by senior managing directors Nick Psyllos, Ryan Gallagher and Michael Leggett, who is also co-head of HFF’s West Coast team, and director Nick Frasco.

Since October 2010, Gemini Rosemont has acquired approximately 6.8 million square feet of Class A and B multi-building office assets in select secondary markets valued at more than $950 million. As of December 2015, Gemini Rosemont has sponsored 165 investment vehicles, deployed over $805 million of investor equity to make more than $2.5 billion in purchases, and acquired/managed approximately 30 million square feet of commercial real estate.
  
 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
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 $7.8 million sale of 5.12-acre development site near JFK International Airport in New York City





 
Michael Nachmkin
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.8 million sale of the 5.12-acre land tract adjacent to John F. Kennedy (JFK) International Airport in the New York City borough of Queens, New York.

HFF marketed the site on behalf of the sellers, Philips International and Rhodes NY.  Gabrielli Truck Sales Ltd. (Gabrielli) purchased the site.

The project required various state and local approvals from the New York City Economic Development Corporation and the Port Authority of New York and New Jersey.  Gabrielli plans to construct a facility for their use on the site.

JFK International Airport is one of the leading international air cargo centers in the world and home to 18 cargo-only freight carriers, including American Airlines, FedEx, Delta Airlines and China Airlines.

 The site is located at 181-25 Eastern Road in Jamaica, Queens, which is in the Queens County industrial submarket and proximate to both the Belt Parkway and Interstate 678 (JFK Expressway) leading into Manhattan.

 Construction will begin on the industrial development this year.  Prior to this development, there have been few industrial/commercial developments within a three-mile radius of the airport within 30 years. 

Evan Pariser
The HFF investment sales team representing the seller was led by managing director Michael Nachamkin and senior managing director Evan Pariser.

“We were extremely happy with the outcome for both the buyer and seller,” Nachamkin said.  “The purchaser worked extremely hard along with their counsel to obtain all the approvals necessary to develop the site for their needs.”


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

Kristen M. Murphy
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





NAI Realvest Negotiates Four Leases at South Park Business Center in Orlando, FL


 
Tom R. Kelley II
 ORLANDO, FL – NAI Realvest recently negotiated four leases totaling 8,703 rentable square feet at South Park Business Center, 8600 Commodity Circle in Orlando.

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated all the transactions on behalf of the landlord South Park, LLC. 

Bloom USA International Corp, a manufacturer and distributor of housewares, has leased 2,307 square feet; David Hammett of CRE Advisors LLC represented the new tenant.

TLL Top LED Lumination LLC also signed a new lease for 2,084 square feet;

Concord Alliance, LLC renewed its lease of 2,218 square feet and Vacation Innovations renewed the lease of 2,094 square feet.

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

Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com
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Alex Lastra, Senior Managing Director of Atlantic | Pacific Development, Appointed President of Latin Builders Association


Alex Lastra
MIAMI, FL – Miami-based Atlantic | Pacific Companies (A|P Companies), a fourth generation real estate company, is pleased to announce Alex Lastra, Senior Managing Director of Atlantic | Pacific Development (A|P Development), a subsidiary of A|P Companies, was appointed as the 22nd President of The Latin Builders Association (LBA).

The LBA is the largest Hispanic construction association in the United States and is a nonprofit organization, which includes a vast array of individuals and companies related to the South Florida construction industry. 

Previously a member of the LBA’s board of directors, Lastra’s goal for the LBA is for continued growth and believes in being a strong voice for its members

"I want to be a voice protecting the industry to continue growing opportunities for developers and contractors. If there is any problem affecting the real estate industry in Miami, the Latin Builders are there to protect the interest of its members,” said Lastra.

Prior to joining A|P, Lastra was a member of The Lastra Group, a design/build firm developing small offices as well as large luxury residences. Following his tenure at The Lastra Group, he joined The Related Group of Florida.

Randy Weisburg
During his six years at Related, Lastra was responsible for all facets of real estate development including initial site planning, land entitlements and acquisitions through construction and project close out.

 Lastra received his Bachelor’s degree with a specialization in Finance from Florida International University graduating with Honors.

Randy Weisburd, A|P's Chief Operating Officer, says "A|P is delighted to have our Senior Managing Director serve as the President of The Latin Builders Association. Our senior team leaders continue to take leadership roles throughout our community; we commend their commitment and dedication."

For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apmanagement.net or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).

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

Jessica Wade Pfeffer | jessica@jessicawadeinc.com | (305) 804 - 8424
Margie Sernik | margie@jessicawadeinc.com | (786) 200 - 2516