Thursday, May 23, 2019

Casselberry, FL Office Building, 42,098 Square Feet, Trades for $3.9 Million

950 Building, 42,098 Square Feet, Corner of Red Bug Lake Road and South Winter Park Drive, Casselberry, FL
Ray Turchi

Casselberry, FL, May 23, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The 950 Building, a roughly 42,098 square foot professional office building located in Casselberry, FL, according to Justin W. West, vice president/regional manager of the firm’s Orlando office. 

The asset sold for $3,926,075.

David Vaughan, Nicholas Hanson and Ray Turchi, investment specialists in Marcus & Millichap’s Orlando office, exclusively represented both the buyer and seller in this transaction – both private individuals.

The 950 Building is a three-story office building situated on 2.19 acres with street frontage and high visibility on the corner of Red Bug Lake Road and S Winter Park Drive. 

The current occupancy is 85 percent, providing value-add upside to the new buyer through the leasing up of vacant space. Built in 1985, the property has undergone considerable renovations in recent years providing tenants with an upscale work environment.



Justin W. West
Vice President / Regional Manager, Orlando
(407) 557-3800

Ocea Huggins
Operations Manager – Orlando and Jacksonville
Marcus & Millichap
300 South Orange Avenue
Suite 700
Orlando, FL 32801
(407) 557-3840 direct
(407) 557-3800 main
(407) 927-0313 mobile
(407) 557-3810

KBS and HFF Partner to Close Sale of Pierre Laclede Center in Clayton, MO

Pierre Laclede Center, an iconic, two building, Class A office complex totaling 579,846 SF in Clayton, MO

NEWPORT BEACH, CA (May 23, 2019) – KBS, one of the largest owners of commercial real estate and Holliday Fenoglio Fowler, L.P. (HFF) announced today the sale of the Pierre Laclede Center, an iconic, two building, Class A office complex totaling 579,846 square feet in the St. Louis area city of Clayton, Missouri.

 HFF marketed the property on behalf of the seller, KBS. The property was purchased by Lingerfelt CommonWealth Partners, a national real estate investment management firm based in Richmond, Virginia.

Pieree Laclede exterior

The Pierre Laclede Center was part of the KBS Real Estate Investment Trust II portfolio. Purchased in 2010, the Pierre Laclede Center offers easy access to both downtown St. Louis and the Lambert International Airport via nearby Interstates 170 and 64.

The Pierre Laclede Center comprises two high-rise office towers located at 7701 and 7773 Forsyth Boulevard in the heart of Clayton’s central business district.

The property is a long-established business destination that combines distinctive features, extensive amenities and core location. Pierre Laclede Center’s unrivaled amenity base includes an outdoor veranda/patio area, conference rooms, fitness centers, cafĂ©, deli, on-site concierge and car washing.

Pierre Laclede interior

Additionally, The St. Louis Club, a premier private-dining club, occupies the top floor of the Pierre Laclede Center and offers views of downtown and the St. Louis arch. The property is within walking distance to Clayton’s burgeoning restaurant and retail scene as well as public transportation.

“The Pierre Laclede Center is a dynamic property in the Clayton office market,” said Dan Park, senior vice president for KBS and asset manager of the property. “We are excited for the new owners and hope they carry on the legacy of this iconic asset.”

Pierre Laclede interior

The Clayton area experienced a tightened vacancy rate for its Class A properties at 3.8 percent in the first quarter of 2019 according to CBRE St. Louis Office Market View Q1 2019.

Daniel Park
Moreover, the Missouri unemployment rate hit 3 percent, its lowest in 50 years, which proved the market’s viability.

 “The Pierre Laclede Center is unique to the St. Louis area, which reflects directly on the continued demand of leasing we’ve seen at the property,” said Marc DeLuca, regional president, Eastern United States for KBS.

 “We anticipate that the new owner will see the same success that we have had in the area.”

Marc DeLuca

The HFF investment advisory team representing the seller included senior managing directors Jaime Fink, Jeffrey Bramson and Danny Kaufman and directors Bryan Rosenberg, Patrick Shields and Sam DiFrancesca.

Lingerfelt CommonWealth will own the tower via its discretionary investment vehicle, Lingerfelt Commonwealth Value Fund II.

Commonwealth Commercial Partners, an affiliated commercial real estate operating firm (also based in Richmond, VA), will open its 14th U.S. office in Clayton and will handle all aspects of the day-to-day asset and property management for the Pierre Laclede Center, in addition to servicing assets for other owners in the St. Louis metro.

Jaime Fink
“The Pierre Laclede Center presented investors with a unique opportunity to invest in Clayton, which is the undisputed preferred choice of office tenants in the St. Louis metropolitan area,” Fink said.

“The core asset offered substantial upside given its highly sought-after infill location combined with the institutional quality of the buildings.”

About KBS

 KBS is a private equity real estate company and an SEC-registered investment adviser. Founded in 1992 by Peter Bren and Chuck Schreiber, it is recognized as one of the largest commercial office owners globally.

Since inception, KBS-affiliated companies have completed transactional activity of approximately $40 billion via 16 separate accounts and six commingled funds, for government and corporate pension funds.

Jeff Bramson
Additionally, KBS has sponsored five sovereign wealth funds and seven SEC-registered, non-traded REITs.

 For more information on KBS, its properties and real estate portfolios, please visit

For information about KBS’ current offerings, please visit, an online portal for self-directed accredited investors to participate in institutional-quality real estate without paying up-front fees or commissions.

Registration as an investment adviser does not imply any particular level of skill or training.

About Lingerfelt Commonwealth Partners

Peter Bren
 Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Greensboro NC, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis, MO, and Reading PA.

Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at:

About HFF

Charles 'Chuck' Schreiber
 HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.

 HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).

Bryan Rosenberg

Daniel Kaufman


For more information, please visit or follow HFF on Twitter @HFF.


 JAIME FINK HFF Senior Managing Director (312) 528-3650

JEFFREY BRAMSON HFF Senior Managing Director (312) 528-3650

DANNY KAUFMAN MO Lic. #2012028715 HFF Senior Managing Director (312) 528-3650

OLIVIA HENNESSEY HFF Public Relations Specialist
(713) 852-3403

CHRIS SULLIVAN MacMillan Communications for KBS
(212) 473-4442

GINNY WALKER KBS Public Relations Manager (949) 417-6535

HFF closes $14.5 million sale of Tigard Medical Plaza in suburban Portland, OR

Tigard Medical Plaza, Tigard, OR

Evan Kovac
SEATTLE, WA, May 23, 2019 Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $14.5 million sale of Tigard Medical Plaza, a 20,994-square-foot outpatient medical office building and ambulatory surgery center in the Portland-area community of Tigard, Oregon.

HFF marketed the property on behalf of the seller.  A private investor in a 1031 exchange purchased the medical office property in an all-cash transaction.

Completed in 2005, the fully leased asset serves as a strategic medical office and outpatient surgery center.  Tigard Medical Plaza is located on 1.74 acres approximately 10 miles south of downtown Portland. 

Andrew Milne
The property is strategically positioned for easy access and visibility from Interstate 5, which is the primary north-south freeway that connects Portland with Salem and has traffic counts exceeding 164,000 vehicles per day.

  Additionally, Tigard Medical Plaza benefits from its proximity to nearby medical facilities, including Providence Laboratory and Providence Bridgeport Health Center directly across the street as well as Legacy Hospital just two miles south. 

Maria Poyer

The HFF investment advisory team representing the seller comprises members of HFF’s national medical office capital markets team, including managing director Evan Kovac, director Andrew Milne, senior associate Trent Jemmett and analyst Maria Poyer

Local market expertise was provided by HFF director Logan Greer.  HFF managing director Casey Davidson and senior director John Chun provided debt advisory services on the transaction.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

Casey Davidson
HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit or follow HFF on Twitter @HFF.

John Chun

HFF Managing Director
858) 812-2365

HFF Director, 
Public Relations
(617) 338-0990

KW Property Management & Consulting Turns 15

Paul Kaplan
MIAMI, FL –– KW Property Management & Consulting, a classic Miami entrepreneurial success story, is celebrating its 15th anniversary throughout the month of May with special events at its offices throughout the State of Florida.

Since former Certified Public Accountants Paul Kaplan and Robert White launched the residential property management company in May 2004, KWPMC has evolved into an industry leader and the largest private company in the market with more than 1,500 employees and 80,000 units under management.

Over the past three years, the company has expanded from 700 to more than 1,500 employees and from 65,000 units under management to more than 80,000.

Robert White
When Kaplan and White started KWPMC, most of their top competitors had been in the business for decades. Yet, they have grown the company organically – one property and employee at a time - to become one of the largest in the industry.

Kaplan and White accomplished this while navigating the 2008 real estate crash and without acquiring or merging with another company, a rare feat in the property management industry.


Eric Kalis