Voit Directs New 147,677-SF Industrial Lease to National Health Care Service Manufacturer in Redlands, CA

   

 INLAND EMPIRE, CA  (Aug. 20, 2012) – Voit Real Estate Services’ Inland Empire office has directed a new 147,677 square-foot industrial lease in Redlands, Calif., on behalf of the lessor.

The lessee, Medline Industries, a privately held national manufacturer and distributor of health care supplies and services, plans to fully occupy the building for its distribution operations, according to Juan Gutierrez, a Senior Associate in Voit’s Inland Empire office.

Gutierrez worked with Frank Geraci, Walt Chenoweth, (middle right photo), and Patrick Wood (lower left photo) of Voit’s Inland Empire office to represent the lessor, BlackRidge Real Estate Group/ Verde Realty. The lessee, Medline Industries, was represented by Chuck Belden of Cushman  & Wakefield.

This is an expansion for Medline Industries, which was seeking additional warehouse space in close proximity to its existing 405,000 square-foot distribution center in San Bernardino, notes Gutierrez.

“The property is a Class A warehouse within a master planned business park, which is especially attractive to tenants in the current market,” explains Gutierrez. 

“Leasing activity is on the rise in the Inland Empire, and the supply of large, Class A product continues to tighten. Our team is constantly tracking the market, and we were able to leverage the increasing momentum in order to successfully identify a tenant and fully stabilize the building within three months.”

This property is located at 1455 Research Drive in Redlands, Calif.

Contact:

  Jenn Quader/Judith Brower

  Brower, Miller & Cole

  (949) 955-7940

  JQuader@browermillercole.com

Marcus & Millichap Announces Sale of Sycamore Hills in Kansas City, MO for $4.3 Million

 KANSAS CITY, MO, Aug, 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sycamore Hills, a 207-unit Apartment property located in Kansas City, MO, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $4,300,000.

 

Alex Blagojevich and David N. Gaines (middle right photo), investment specialists in Marcus & Millichap’s Tampa and Chicago offices, had the exclusive listing to market the property on behalf of the seller, Sycamore Hills, LLC. 

The buyer, The Hills Partners, LLC, was also secured and represented by David N. Gaines and Alex Blagojevich.  Matt Fitzgerald, Broker, assisted in closing this transaction.

Sycamore Hills is located at 506 NW 55th Terrace.  The property is a 207-unit apartment community consisting of nine two-story buildings.  The buildings feature studio, one, two and three-bedroom floor plans. 

Press Contact:

 Richard D. Matricaria

Regional Manager,

 Tampa

(813) 387-4700

Cassidy Turley Promotes Erin Smith to Associate in Atlanta Office

  

ATLANTA, GA-- Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced it has internally promoted Erin Smith (top right photo) to associate and transaction broker in its Atlanta office. Her responsibilities now include business development and tenant representation transaction management.

 Smith has served as marketing assistant with the brokerage team of Kirk Diamond, Bradley Fulkerson and April Hawkinson at Cassidy Turley for over a year. In her previous role, she supported the office tenant representation practice group and prepared proposals, presentations, surveys and market research.

Smith was an influential member of the team that recently secured a partnership with SunTrust Banks, Inc., in which Cassidy Turley will provide corporate real estate services for SunTrust’s 14 million-square-foot corporate real estate portfolio.

 “Erin has proven herself to be a dependable member of the Cassidy Turley team,” said Bradley Fulkerson (lower left photo), Managing Director and Principal in Cassidy Turley’s Atlanta office. “She has been an instrumental part of our brokerage team and helped win a number of great deals for Cassidy Turley.”

 Before joining Cassidy Turley, Smith served as an associate with PartnersAtlanta, which represents corporate real estate tenants. She has a bachelor’s in business administration from the University of Florida.

Contact:

Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

Marshall Hotels & Resorts Adds Two Management Contracts, Two Receiverships

  

SALISBURY, MD, Aug. 20, 2012—Officials at Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide and in the Caribbean, today announced that it has added two management contracts and two receiverships to its growing portfolio.

 The managed hotels include the newly opened 113-room Hampton Inn and Suites (lower right photo) in the resort town of Ocean City, Md., and the 122-room Country Inns and Suites at the Louisville, Ky. airport (middle left photo.  The two receivership properties, also managed by Marshall, are independent hotels located in Branson, Mo.

“There is significant activity by owners seeking new management companies and from lenders who are accelerating the number of properties they are taking back,” said Mike Marshall (top right photo), president and CEO. 

“Of note, we see a sharp increase in interest from developers who have been largely on the sidelines the past four years.

“ Although financing for new construction still remains difficult to obtain, deals are starting to get underwritten, and we expect to see a steady increase in this area due to our extensive expertise in both supervising construction and our track record in pre-opening and rapidly ramping up our hotels.”.

“We were quite active in pre-opening actives for The Hampton Inn and Suites in Ocean City, which opened earlier this month,” he said. 

 “The property is on the bay and offers both an indoor and outdoor swimming pool. We expect this property to perform well.  Our managed resort portfolio is enjoying its strongest summer in four years, a trend we see continuing.”

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

Pat Daly, Jerry Daly,

media

Daly Gray Public Relations

(703) 435-6293

 jerry@dalygray.com

Berger Commercial Realty Broker Keith Graves Closes 20,792 SF. of Lease Transactions

FORT LAUDERDALE, FL – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced three deals from Keith Graves (top right photo).

Graves represented SGP Palm Crossing, LLC in the lease of a 15,920-square-foot industrial space, located at 3420 N.W. 53rd Street in Fort Lauderdale, to GA Telesis Composit Repair Group, LLC.

Graves also represented SGP Palm Crossing, LLC in the lease of a 2,470-square-foot of flex space, located at 5371 N.W. 53rd Street in Fort Lauderdale, to Dunkelberger Engineering & Testing, Inc.

Additionally, Graves represented Seagis FLCC, LLC in the lease of a 2,402-square-foot industrial space, located at 5361-5381 N.W. 33rd Ave. in Fort Lauderdale, to FB Legal, LLC.

Contact: 

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

HFF closes sale of two-property self storage portfolio in Dallas, TX area

 HOUSTON, TX – HFF announced today that it has closed the sale of a two-property self storage portfolio totaling approximately 163,000 square feet in the Dallas area.

HFF marketed the offering exclusively on behalf of the seller, 5B Investments, Inc.  Extra Space Self Storage purchased the properties for an undisclosed amount free and clear of debt.

The first of the two properties is located in Dallas at the intersection of Preston Road and President George Bush Turnpike.  The facility was completed in 1998 and contains 540 units, 71 percent of which are climate controlled. 

The second property in the portfolio is located in Grand Prairie along Highway 360 between Dallas and Fort Worth.  The facility was completed in 2000 and contains 856 units, 59 percent of which are climate controlled. 

Both properties have been maintained to institutional standards and include a mixture of self storage and RV/surface units.

The HFF team representing the seller was led by senior managing director Aaron Swerdlin (top right photo).

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

AARON A. SWERDLIN                                    

HFF Senior Managing Director                     

(713) 852-3500                                             

aswerdlin@hfflp.com

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF hires Gregg Shapiro as director in its Atlanta office

       

 

ATLANTA, GA – HFF announced today that Gregg Shapiro has joined the firm as a director in its Atlanta office. 

Mr. Shapiro will focus primarily on debt and equity placement transactions in the southeastern United States.  He has more than 16 years of experience in the commercial real estate and finance industries.  Prior to joining HFF, Mr. Shapiro founded SRE Advisors, LLC, a commercial real estate capital markets advisory business.

“Gregg has been involved with many aspects of the commercial real estate industry throughout his career and brings a wealth of past knowledge and experience with him to the firm.   We feel strongly that he will be a tremendous asset to the Atlanta office and our national debt platform,” commented senior managing director Mark Sixour (top right photo) of HFF”s Atlanta office.

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

MARK D. SIXOUR                                             

HFF Senior Managing Director                           

(404) 832-8460                                                   

msixour@hfflp.com 

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Ameriprise Financial and BankUnited Sign Leases at MetWest International in Tampa, FL

TAMPA, FL– Two prominent financial firms have signed leases at MetWest International (top left photo), MetLife’s mixed-use development located in Tampa’s Westshore Business District.

Ameriprise Financial, Inc., (NYSE:AMP), a Fortune 500 company, has signed a 12,555 square foot lease at MetWest One while BankUnited (NYSE: BKU) has signed a lease for 5,303 square feet at One MetroCenter.

“We’re pleased to welcome Ameriprise and BankUnited to MetWest, which has seen an increase in leasing activity this year and continues to grow as a prominent development in the Westshore community,” stated Chuck Davis, regional director of MetLife’s Tampa real estate investment office.

Ameriprise was represented by Jack Hoskins of CBRE with Jeremy Kral of LandQwest representing BankUnited. MetLife was represented by Angela Odell of Taylor & Mathis.

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

Christopher Breslin, MetLife, (212) 578-8824 cbreslin@metlife.com

Mary Harris, BankUnited, (305)817-8117 mharris@BankUnited.com

www.TaylorMathis.com.

www.metlife.com/realestate

www.BankUnited.com

PCCP LLC Provides Two Senior Loans totaling $66 Million to Recapitalize a Hilton Hotel in Baltimore, D and a Mixed-Use Project in Wilmington, DE

 

 New York, NY,  Aug. 20, 2012 - PCCP, LLC announced today it provided two senior loans totaling $66 million to a joint venture led by New York City-based AllianceBernstein U.S. Real Estate Partners, LP for the recapitalization of two class A properties built by Wilmington, Delaware-based Buccini-Pollin Group (BPG). 

The recapitalized properties include the Hilton hote (top left photo) l located near the Baltimore Washington International airport and a multifamily project along the Christina riverfront in Wilmington, Delaware known as Justison Landing (middle right photo).

“These institutional quality assets were originally capitalized with loans from Anglo Irish Bank during the last real estate cycle,”  said John Prete (lower left photo), vice president with PCCP, LLC.

“After being nationalized, Anglo Irish sold its U.S. real estate debt portfolio, which led to this recapitalization opportunity.

 “We were attracted to the location and quality of the recently constructed real estate—particularly since our basis is at a significant discount to replacement cost. These floating-rate loans are also supported by strong in-place cash flow and a significant equity investment by a deeply experienced and capable borrower.”

The first loan totals $36 million and is secured by the Hilton BWI, a 280-room, 12-story, full-service Hilton built in 2006 by BPG. The hotel is located near the Baltimore Washington International airport at 1739 West Nursery Road in Linthicum Heights, Maryland.

The second loan totals $30 million and is secured by Justison Landing, a class A, multifamily project built by BPG in 2008 that includes 214 multifamily units The property is located at 321 Justison Street in Wilmington, Delaware, along the Christina Riverfront and is easily accessible and visible from nearby Interstate 95.

AllianceBernstein U.S. Real Estate Partners, LP is a real estate private equity fund with $680 million in capital commitments from institutional investors and clients of its parent company. BPG is a full-service real estate firm that has acquired, repositioned, or developed over $3 billion in real estate in Washington D.C. and the Mid-Atlantic.  It is the largest residential landlord in Wilmington.

 Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Marcus & Millichap Promotes Nine California Agents to Vice President Investments

   

Alex Kozakov  Patrick Wade Pasha Darvishian Sam Hanna

  

CALABASAS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted nine California agents to vice president investments.

This designation exemplifies superior performance achieved by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Kent R. Williams, senior vice president and managing director.

            The agents, their office locations and specialties are:

·         Alex Kozakov, Los Angeles, retail and net-leased (top  photo)

·         Patrick Wade, Los Angeles, retail and net-leased (top photo)

·         Pasha Darvishian, Newport Beach, office and industrial (top photo)

·         Sam Hanna, San Diego, office and industrial (top photo)

·         Tom McCartin, San Diego, multifamily (bottom photo)

·         Phil Sambazis, San Diego, retail and net-leased (bottom photo)

·         Clinton Textor, San Francisco, multifamily (bottom photo)

·         Christopher O. Hyldahl, West Los Angeles, seniors housing (bottom photo)

·         Priscilla Nee, West Los Angeles, multifamily (photo unavailable at this time)

                                Tom McCartin Phil Sambazis, Clinton Textor, Christopher Hyldahl

 Previously, Darvishian, Hanna, Sambazis, Textor, Hyldahl and Nee held the title associate vice president investments. Kozakov, Wade and McCartin were senior associates. 

 “With this promotion, these commercial real estate investment specialists have earned a prestigious designation within the firm and solidified their reputations as knowledgeable and successful investment professionals,” says Williams. “Their focus on providing superior client services has earned them a high degree of loyalty and respect from investors as well as from their peers.”

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

           

New Hyundai Dealership to Open in Lilburn, Ga.

  

 ATLANTA, GA – Bull Realty has brokered the lease of a 24,700-square-foot, 4.5-acre former Pontiac GMC dealership on Stone Mountain Highway in Lilburn, Ga. As a result, a new Hyundai dealership will open on the site in January 2013.

O’Brien Automotive Team, which owns 19 other dealerships across the country, leased the property from an affiliate of the Baranco Automotive Group.

Jared Daley (top right photo), vice president – corporate retail services for Bull Realty and an agent who specializes in the lease and sale of automotive-related properties, represented the landlord in the transaction. No other brokers were involved in the deal.

The property received a lot of interest from other car dealers, Daley reports.

“This area is coming back as a popular car sales market,” he said. “The former Chevrolet dealership across the street just opened as a new Toyota dealership.

“This new Hyundai dealership will have a modern look and feel to provide an inviting car-buying experience. We are excited about the potential of this dealership and the value it will bring to our client’s property.”

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

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Jared@BullRealty.com

Douglas A. Danny and Christopher J. Zorbas Promoted to First Vice Presidents Investments at Marcus & Millichap

SAN DIEGO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Douglas A. Danny (top right photo) and Christopher J.  Zorbas (middle left photo) to first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to John Vorsheck (lower right photo), regional manager of the San Diego office.

Most recently, Danny and Zorbas held the title of vice president investments. They are both located in the San Diego office.

Danny’s career with Marcus & Millichap began in November 1992 as a manufactured housing specialist. He was promoted to senior associate in June 1998 and vice president investments in January 2008.

Danny also holds the title of senior director of Marcus & Millichap’s National Manufactured Home Communities Group (NMHCG). Throughout his career Danny has received several internal sales awards, including seven coveted National Achievement Awards.

Zorbas began his career with the firm in May 2001 as a multifamily investment specialist. He was promoted to senior associate in June 2004 and vice president investments in January 2008.

Zorbas also holds the title of senior director of the firm’s National Multi Housing Group (NMHG). While with Marcus & Millichap, Zorbas has earned several internal sales awards including eight coveted National Achievement Awards.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Mark One Capital Arranges $7 Million Walgreens Loan in Aliso Viejo, CA

   

ALISO VIEJO, Calif., Aug. 16, 2012 – Mark One Capital, a subsidiary of Marcus & Millichap Capital Corporation (MMCC), has arranged $7.1 million in refinancing for a 13,386-square foot Walgreens drugstore built in 2009.

 Farhan Kabani (top right photo) a director in MMCC’s Dallas office, arranged the loan.

“This was a cash-out refinance, which is difficult to structure in many cases,” says Kabani. “We provided the clients with several debt options that allowed them to choose the loan that worked best and met their requirements.”

  

“Walgreens are attractive to lenders,” adds Kabani. “They are an investment-grade tenant, and the buildings that they occupy are typically multi-use space that can be converted easily.”

The loan was structured with a 10- year term and amortizes over 30 years with an interest rate of 4.5 percent. The LTV was 75 percent.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

New Penthouses at Canyon Ranch Living Miami Beach, FL Sell Out in Two Hours

  

MIAMI BEACH, FL– Canyon Ranch Living Miami Beach (top left photo) set a speed record for sales when it opened penthouse residences for sale this month. The eight luxury homes atop the upper and lower center tower went under contract in two hours, with total sales exceeding $7 million.

“Buyers were asking about the residences even before we offered them,” said Michael Sadov (lower right photo), Real Estate Sales Director at Canyon Ranch Living Miami Beach. “They placed their names on a waiting list. When we formally notified them, they quickly signed contracts, sometimes sight unseen.”

“One residence was so spectacular the price exceeded $1,000 per square foot,” Sadov explained.  “All of the buyers already owned homes at Canyon Ranch and were so enthused with the luxury lifestyle of healthy living that they couldn't wait to purchase again.”

Four of the one- and two-bedroom penthouses are directly on the ocean. Several have views that face south. Each of the finished residences has different layouts and kitchen designs.

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

Estee Pinzon

Digital Media Specialist

Boardroom Communications

(954) 370-8999

(954) 370-8892 Fax

epinzon@boardroompr.com

Julie Talenfeld

Boardroom Communications,

954-370-8999

jtalenfeld@boardroompr.com

for Canyon Ranch Living Miami Beach.

  

Marcus & Millichap Sells two-tenant retail property in heart of Biscyane retail corridor in North Miami, FL

NORTH MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a two-tenant net-leased retail property located in North Miami, FL, according to Kirk A. Felici, First Vice President/Regional Manager of the firm’s Miami office.

The asset, which includes T-Mobile and Smoothie King as tenants, commanded a sales price of $3,250,000.

Drew A. Kristol (middle right photo) and Kirk D. Olson (lower left photo), Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company headquartered in Miami Beach.   

“This property received tremendous interest because it has little to no deferred maintenance, strong cash flow and minimal management responsibilities,” Kristol explained.

“The building is located on a square lot of almost an entire acre of commercial land in the heart of a dense retail section of Miami-Dade County. The Smoothie King space also benefits from a rare drive-through window on the north side of the property,”

The property was recently gut-renovated in 2010 for the two tenants, T-Mobile and Smoothie King. T-Mobile signed a new 7-year lease in 2011 and Smoothie King, backed by a multiple-unit franchisee, executed a 5-year lease.  It is located on the northeast signalized corner of Biscayne Boulevard and Northeast 126th Street at 12605 Biscayne Boulevard in North Miami.

Press Contact:

Ashley Steele

Fort Lauderdale Office

954-245-3400