Tuesday, August 2, 2016

$233.3 million construction loan arranged by HFF for development of CNA Center in Chicago’s West Loop

Rendering of planned 35-story office tower at 151 North Franklin, West Loop, Chicago, IL

Michael Kavanau
CHICAGO, IL -– Holliday Fenoglio Fowler, L.P. (HFF), in conjunction with The John Buck Company and Bank of the Ozarks, announced the closing of a $233.3 million construction loan for the development of CNA Center, a Class A+, 35-story, trophy office tower at 151 North Franklin in Chicago’s West Loop.

HFF worked on behalf of the developer, The John Buck Company, to place the construction loan with Bank of the Ozarks.

Designed by the internationally-acclaimed firms of John Ronan Architects and Adamson Associates, CNA Center will be the new world headquarters of CNA, a leading insurance organization and the principal subsidiary and operating company of CNA Financial. 

Additionally, the center will be the new national headquarters for Hinshaw & Culbertson LLP, an international law firm.  The finished office tower will feature 807,137 rentable square feet and a 500-stall, attached parking garage in addition to 34 lower-level parking stalls. 

The LEED Gold-certified building will offer tenants column-free, 25,000-square-foot floor plates with uninterrupted views and an extensive list of building amenities, including a 4,200-square-foot rooftop terrace with bar, 10,000 square feet of landscaped exterior courtyards, professionally-managed fitness center, 250-seat conference center, restaurant, bike room and café/coffee bar.

Dan Kaufman
 The tower is currently under construction and will be completed in the summer of 2018.  CNA Center’s location is in the heart of Chicago’s West Loop.

The HFF debt placement team representing the borrower was led by senior managing director Michael Kavanau and managing director Danny Kaufman.

“It has been a pleasure to work with Bank of the Ozarks on behalf of The John Buck Companies,” Kaufman said.  “Both organizations are absolutely best in class, and have come together to plan and execute a landmark office development here in downtown Chicago.”

“We experienced a very strong response from the capital markets to CNA Center,” Kavanau added.  “There have been very few new office towers built in this cycle and very strong tenant demand for new Class A+ space.”

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 | www.hfflp.com


Atlanta Regional Commission Signs Letter of Intent for 50,000-Square-Foot Space at Peachtree Center

Kay Younglove
ATLANTA, GA (Aug. 2, 2016) — Peachtree Center, the iconic six-tower, 2.5-million-square-foot mixed-use property in downtown Atlanta, is pleased to announce that the Atlanta Regional Commission (ARC) has signed a letter of intent for approximately 50,000 square feet of space at its International Tower.

Mike Werner, David Horne and Kay Younglove of JLL represented Banyan Street Capital, the owner of Peachtree Center, in the transaction, and John Izard and Cathy Sheehan of Cushman & Wakefield represented ARC.

“Symbolically located at the heart of the Atlanta region, Peachtree Center’s downtown vibrancy and modernization plans align with our values at ARC,” said Kerry Armstrong, ARC board chair.

“Peachtree Center will provide us with expanded and enhanced amenities, including improved accessibility for those riding bus or rail transit, in a highly walkable area. ARC has been working for decades to foster this kind of development throughout the Atlanta region.”

Kerry Armstrong
ARC, the official planning and intergovernmental coordination agency for the 10-county Atlanta region, will relocate its approximately 200 employees to Peachtree Center, taking occupancy next summer. In addition to two and a half floors of office space, ARC will lease about 9,000 square feet of conference and community meeting space.

“We’re excited to welcome such an impactful organization to Peachtree Center,” said Kay Younglove, senior vice president for JLL who represented Banyan Street Capital in the transaction. 

“ARC is an excellent addition to our all-star tenant roster, and its decision to move to Peachtree Center further supports the types of amenities today’s companies seek.” 

In addition to connectivity to public transit, Peachtree Center hosts community events such as the Peachtree Center Green Market, a lunchtime farmers market open to the public every Thursday.

Guests and office workers have the unique opportunity to stock up on fresh produce, freshly baked bread, imported cheese and more. Next year, Peachtree Center is poised to undergo redevelopment of its three-story retail center and courtyard, creating a modernized hub of destination retailers and restaurants.

Other top companies that have recently moved to Peachtree Center include Urban Land Institute Atlanta, Fifth Group Restaurants and Web.com.

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

Meredith Pierce • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0108 • M: 478-719-9958

peachtreecenter.com or

NAI Realvest Negotiates New Retail Leases at Florida One Shoppes in South Orlando and Westmonte Plaza in Altamonte Springs, FL

Kim Manson

Jeffrey Tanner
ORLANDO, FL  – NAI Realvest Director of Retail and Investment Sales Kim Manson and Senior Vice President Jeffrey Tanner recently completed two new lease agreements for retail space in South Orlando and in Altamonte Springs representing the tenants and the landlords.

Tenant Ernesto Camilo Sarabia, Yaquelin Boulandier and ES Capital Group, Inc. an insurance brokerage firm, leased Unit 18 with 1,320 rentable square feet at Florida One Shoppes, 9350 S. Orange Blossom Trail.  

The Landlord is Florida One Family Limited Partnership based in Altamonte Springs.

Ganesha Greenery, a fresh juice shop with coffee, smoothies and organic treats, leased 1,600 rentable square feet in Suite 1132 at 185 S. Westmonte Drive in Altamonte Springs. The landlord is Westmonte Plaza, Inc.

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

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

Second Quarter 2016 Operating Results Announced by National Retail Properties Inc.

Craig Macnab
Orlando, FL,  Aug. 2, 2016 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 2016.

Craig Macnab, Chief Executive Officer, commented: "2016 is off to a terrific start with better than expected acquisitions. Our balance sheet remains very strong and our portfolio occupancy continues to be exceptional.

“Also, we are pleased to have recently announced a 4.6% increase in our third quarter dividend which will make 2016 our 27th consecutive year of increased annual dividends per share."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. 

As of June 30, 2016, the company owned 2,452 properties in 48 states with a gross leasable area of approximately 26.3 million square
feet and with a weighted average remaining lease term of 11.4 years.

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

Kevin B. Habicht
Chief Financial Officer
(407) 265-7348

NAIOP South Florida Welcomes 225 Industry Professionals for Mid-Year Update and “The Bus Stops Here…Highlighting Broward County” Tour

NAIOP South Florida Executive Director Jules Morgan, Avison Young Principal Gregory P. Martin, Metropica Development Vice President Erick Collazo, Treadwell Franklin Infrastructure Capital Executive and Founding Partner Eric Swanson, Stiles President Scott MacLaren, Duke Realty Regional Senior Vice President Ed Mitchell

FORT LAUDERDALE, FL (August 2, 2016) – NAIOP South Florida, a Commercial Real Estate Development Organization, recently welcomed more than 200 industry professionals for its Mid-Year Update and “The Bus Stops Here…Highlighting Broward County” tour.

                                                          Hosted by Duke Realty at its new Pembroke Pointe 880 building, the event featured a luncheon, a panel of South Florida’s leading developers, and an ‘off the bus’ tour of Broward County’s most prominent commercial real estate properties, companies and organizations.

The panel, which was moderated by Avison Young Principal Gregory P. Martin, consisted of Metropica Development Vice President Erick Collazo, Stiles President Scott MacLaren, Duke Realty Regional Senior Vice President Ed Mitchell and Treadwell Franklin Infrastructure Capital Executive and Founding   Partner Eric Swanson.                                                                                                                                                                                                                                                                                                                            
          The panelists discussed a range of topics including emerging trends, upcoming opportunities and future development and fielded questions from their peers in the audience.

“One of the most engaging points raised during the panel was how online retailers and the Latin market are affecting local commercial real estate, specifically, physical retail and showroom space,” said NAIOP South Florida Executive Director Jules R. Morgan.

“With online shopping for products and services becoming more prominent, the need for brick and mortar outlets is being debated. The commercial real estate landscape is changing and it will be interesting tojsee how this will influence South Florida in the future.”
                                                                                                                                                                                                                                                                                           Jules R.Morgan

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

Pierson Grant Public Relations
Lexi Robinson, ext. 255

HFF closes $112.5 million sale of The Envoy Hotel, a Marriott Autograph Collection hotel in Boston, MA

Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $112.5 million sale of The Envoy Hotel, an iconic, full-service, 136-room boutique hotel in Boston’s Seaport District. 

HFF marketed the property on behalf of the seller, Norwich Partners. 

Completed in June 2015, the four-diamond, AAA-rated Envoy Hotel has become one of Boston’s most popular hotels.  The Envoy Hotel is located at 70 Sleeper Street at the nexus of Boston’s Seaport and Financial District. 

The hotel is adjacent to numerous corporate demand generators, including Vertex Pharmaceuticals, PriceWaterHouseCoopers and the new GE Corporate Campus, as well as numerous office, residential and retail projects.

 Additionally, the hotel is within walking distance to more than 10 major tourist attractions, more than 25 restaurants and the Boston Convention & Exhibition Center.  Logan International Airport is also easily accessible via water taxi or via the Ted Williams Tunnel. 

The hotel features two food and beverage outlets, Outlook Kitchen + Bar, the hotel’s signature restaurant; and the popular Lookout Rooftop Bar, which is the only rooftop venue in the city providing views of the Boston skyline and the waterfront.

Alan Suzuki
 The Envoy Hotel is part of Marriott’s Autograph Collection, making it among an elite class of only 95 hotels globally to earn that distinction.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

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

Kristen M. Murphy
Director, Marketing
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