NAI Realvest to Launch Paid Intern Program

MAITLAND - NAI Realvest, which ranks as one of the most active developers of industrial facilities in Central Florida and a leading area commercial property leasing and brokerage firm, is now accepting applications for paid internship positions that will commence in January.

Patrick Mahoney, (top right photo)  president and chief operating officer at NAI Realvest, said the program is open to students from area colleges and universities with an interest in commercial real estate.

Mahoney said NAI Realvest plans to develop a new generation of commercial real estate executives and hopes the most promising NAI Realvest interns will stay on as junior brokers after they earn their college degrees.

“We have designed a comprehensive experiential professional learning curriculum here at NAI Realvest and we expect to invest substantial energies in the development of a corps of promising young executives,” Mahoney explained.

“Our interns will get first-hand mentoring in landlord and tenant representation, property research, legal, sales and leasing contracts, negotiations, property valuations, property management and marketing,” said Mahoney.

For more information, please contact:
Patrick Mahoney, President and COO,  NAI Realvest, 407-875-9989, pmahoney@realvest.com;
George Livingston, Chairman Emeritus, NAI Realvest, 407-875-9989; glivingston@realvest.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,  Lvershelco@aol.com

NAI Realvest and NAI Horizon in Phoenix Negotiate Office Lease for 10,000SF in Scottsdale, AZ

ORLANDO, Fla. - NAI Realvest in Maitland and NAI Horizon in Phoenix recently negotiated a lease agreement for more than 10,000 square feet of office space on behalf of Channel Intelligence at the SkySong mixed-use development in Scottsdale, Ariz.

George Livingston, (top right photo) chairman emeritus of the firm, and Christie Alexander, (bottom left photo)  principal at NAI Realvest, along with Thomas Bean and Patricia Rogers of NAI Horizon represented Channel Intelligence in the lease of the Orlando-based company’s West Coast office.

Channel Intelligence helps retailers, manufacturers and other advertisers make their products and services easier for consumers to find and buy online and in local retail stores.

Higgins Development Partners and Plaza Companies are co-developers of the SkySong project in partnership with the Arizona State University Foundation and USAA Real Estate Company.

For more information, contact:
Christie Alexander, Principal, NAI Realvest,  407-949-0704,  calexander@realvest.com;
George Livingston, Chairman Emeritus, NAI Realvest,  407-875-9989,  glivingston@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,  lvershelco@aol.com

EastGroup Properties Acquires Three-uilding Complex in San Diego, CA $17M

JACKSON, MS--EastGroup Properties (NYSE-EGP) announced the acquisition of the Ocean View Corporate Center in San Diego, California for a purchase price of $17,000,000.

Located in the Otay Mesa submarket, (bottom left map)  Ocean View contains 274,000 square feet in three, multi-tenant business distribution industrial buildings.

Constructed in 2005, the complex is presently 87% leased to 14 customers. Ocean View is projected to generate an annualized yield of 9.6% at its current occupancy and rents.

David H. Hoster II, (top right photo)  President and CEO, stated, "Ocean View is a recently developed, state-of-the-art industrial complex that closely fits our business distribution criteria. This acquisition, which is at a price 20-25% below replacement cost, increases our ownership in the south San Diego market to 465,000 square feet.

"Ocean View represents our fourth purchase in the last nine months and brings our total of newly invested capital to approximately $40 million over that period. We continue to seek additional investment opportunities."

Contact:

David H. Hoster II, President and Chief Executive Officer
N. Keith McKey, Chief Financial Officer, 601) 354-3555

Easton Lynd to Manage Distressed Properties for Warren Buffet-Owned Berkadia Commercial Mortgage

MIAMI, FL— Miami-based Easton Lynd Management, the commercial property management division of The Lynd Company, has been tapped by Berkadia Commercial Mortgage LLC to manage a portion of its distressed property portfolio throughout the United States.

Berkadia, based out of Horsham, Pennsylvania, is a top-rated, special servicer of commercial real estate loans owned jointly by Warren Buffet’s (top right photo)  holding company, Berkshire Hathaway Inc. and Leucadia National Corp.

Berkadia has a portfolio of $240 million, making it the third largest servicer in the United States. Easton Lynd has more than 30 years managing commercial properties with 9.7 million square feet currently under assignment nationwide.

Easton Lynd’s first assignment with Berkadia is a 44,000 square foot stand-alone retail building in Clearwater, Florida, that the loan servicer took back in January 2010. Circuit City had occupied the space prior to its filing bankruptcy and going out of business.

Zac Gruber, (middle left photo)  regional vice president in charge of Easton Lynd said a property manager plays a vital role for a loan servicer when it comes to maximizing a property’s value.

“Timing is very important in distressed situations,” said Gruber. “As a manager, you have to act quickly and be able to identify any issues that are causing the property to lose money. You then have to analyze, prioritize and execute what needs to be done to turn the asset around. It takes a well-trained staff to make this happen.”

Easton Lynd Management, a division of San Antonio, Texas-based The Lynd Company, is one of the country's fastest growing and most advanced commercial real estate management companies.

The firm represents a diverse investor base from small private investors to large institutional clients across multiple property types including industrial, office and retail. Its revolutionary property reporting and tenant interaction capabilities make Easton Lynd a preferred property management firm.

For more information log on to http://www.thelyndco.com/.

Media Contact:  Todd Templin, Boardroom Communications, 954-370-8999 or 954-290-0810, ttemplin@boardroompr.com
Easton Lynd LLC, Zac Gruber, Regional VP, 305-591-9727, zgruber@eastonlynd.com