Tuesday, December 6, 2016

HFF closes sale of Magnolia Dallas Park Cities Hotel in Dallas, TX

Magnolia Hotel Park Cities, Central Dallas, TX

John Bourret
DALLAS, TX, Dec. 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Magnolia Dallas Park Cities, a 292-room, full-service, independent hotel situated in central Dallas, Texas.

HFF marketed the property on behalf of the seller, Trigate Capital.  6070 NCX, LLC purchased the property, and Stout Street Hospitality will continue to manage the hotel.

Magnolia Dallas Park Cities is located at 6070 North Central Expressway along a main freeway in the heart of a major transportation, office and entertainment corridor in Dallas.

The hotel is proximate to Southern Methodist University, Mockingbird Station mixed-use project, George W. Bush Presidential Library and Museum and more than 20 million square feet of office space in Uptown. 

Originally constructed in 1972, Magnolia Hotel Dallas Park Cities has undergone multiple updates and renovations in 2012 through 2013 and in 2015 totaling approximately $10.1 million.  The hotel features 12,000 square feet of function space, a fitness center, indoor pool and restaurant and lounge.

The HFF investment sales team representing the seller was led by managing director John Bourret and associate director Austin Brooks.

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

NAI Realvest Represents New National Tenant in Long-Term Lease for a new Orlando, FL operation at 33rd Street Industrial Park

Megan Minter
ORLANDO, FL  — NAI Realvest recently negotiated a new long term lease agreement for 13,830 rentable square feet at 4104 L.B. McLeod Rd. in south Orlando’s 33rd Street Industrial Park. 

Jason G. Toll, Director of Industrial Services at NAI Realvest and Associate Megan Minter, negotiated the transaction representing the tenant All Current Electrical Sales, headquartered in Pennsauken, N.J.   

The supplier of electrical products exclusively for wholesale electrical distributors with operations coast to coast is opening its 10th location in Orlando.  

The landlord, Dallas-based CH Realty IV/Westpark LLC, was represented in the transaction by Bobby Isola of Cite Partners. 

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

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


New Castle Promotes Jeremy Buffam to Vice President Capital Projects and Facilities


Jeremy Buffam
  SHELTON, CT, Dec. 6, 2016—Gerry Chase, president and COO of New Castle Hotels & Resorts a leading third-party management company and hotel developer, today announced the promotion of Jeremy Buffam to vice president of capital projects and facilities for the company’s growing portfolio of hotels in the US and Canada. 

Buffam oversees capital projects including property renovations and new construction, and is responsible for facilities engineering & maintenance including efficiency programs across the portfolio.  He works closely with New Castle’s development team and investor partners to manage projects from due diligence & budgeting through construction and operational turnover.

“Jeremy has an engineer’s passion for innovation and resource conservation as well as an owner’s instinct for cost containment and long-term return on investment,” noted Chase in making the announcement.  “We are able to deliver a better return for our owners and we are better development partners because of Jeremy’s combination of skills and sensibilities.” 

Buffam’s current undertakings include diverse challenges such as the renovation of the historic Westin Nova Scotian, the redesign and renovation of the Algonquin Golf Course in St. Andrews, New Brunswick and modernizing disparate mechanical systems at the Hampton Inn Milwaukee Downtown; a landmark bank that evolved into a hotel by annexing adjacent buildings over a period of nearly 100 years.

A career project manager, Buffam began working in the construction/project management field in Chicago while completing his undergraduate work at Wheaton College.  He held project management positions at Stone & Webster Engineering (currently CB&I), ENSR International (currently AECOM) and Walsh Associates, managing a diverse portfolio of projects in New York City and throughout the Northeast.  

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

Lauralee Dobbins
Write Touch Public Relations