Stirling Capital Investments Secures 65,000-SF Lease with Plastipak Packaging Inc. for Additional Space at Southern California Centre in Victorville, CA

VICTORVILLE, CA (June 17, 2010) – Stirling Capital Investments announced it has secured a eight-year, 65,000-square-foot lease with Plymouth, MI-based Plastipak Packaging, Inc., valued at $2 million for additional space at Southern California Logistics Centre (SCLC) (top left photo), a 2,500-acre commercial and industrial complex in Victorville, Calif.

 In September 2009, Plastipak signed a lease for 231,185 square feet at SCLC. Plastipak Packaging, Inc., a leading manufacturer of plastic packaging containers for many of the world’s largest consumer product companies, will expand its operation to manufacture and distribute plastic bottles from its new SCLC facility.

“Southern California Logistics Centre continues to attract high caliber tenants such as Plastipak, with a strategic Southern California location that meets the diverse logistical needs of companies with its air, ground and rail connections,” said Brian Parno, (middle right photo)  chief operating officer of Stirling Capital Investments, the master developer of SCLC.

“Some of America’s top companies are investing in and are locating at Southern California Logistics Centre due to its direct access to Interstate 15, Highway 395 and key modes of transportation, attractive lease rates, available and qualified labor pool and incentive programs.”

The recently lease signed by Plastipak continues the success SCLC had in 2009.

Jay Dick and Mark Latimer of CB Richard Ellis represented Stirling Capital Investments.

Contact: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com

Jones Lang LaSalle Completes 17,139-SF Lease for BakerCorp in Seal Beach, CA

SEAL BEACH, CA, June 17, 2010 – Jones Lang LaSalle represented BakerCorp in a 17,139-square-foot lease renewal at Bixby Office Park, (top left photo)  a 106,267-square-foot property located at 3020 Old Ranch Parkway in Seal Beach, California. This facility serves as the company’s headquarters.

BakerCorp is the industry leader in containment, pumping, filtration and shoring equipment rental solutions.

Jones Lang LaSalle Senior Vice President Paul Park and Vice President Mitch Lundquist represented BakerCorp in the transaction. The Landlord, Bixby Land Company, represented itself.

“The current commercial real estate market allowed BakerCorp the opportunity to achieve a more favorable term by extending their lease,” said Lundquist.

Contact: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com

Gulf West Investment Properties Announces the Purchase of 20 Acres in North Tampa for Development

TAMPA, FL /PRNewswire-FirstCall/ -- Gulf West Investment Properties, Inc. (Pinksheets: GLFW) is pleased to announce the purchase of 20 acres already zoned and permitted for 105 units in North Tampa.

GLFW can build an average 2,100 square foot house and sell it in the low 200's.

First time home buyers can qualify and get all the tax credits and GLFW can actually provide family housing for less than the price of a two bedroom apartment. GLFW is passing these types of savings along to the consumer. In addition, GLFW can stay at the same profit margins while delivering a superior product.

"Since the recession there are a lot of great buys out there on properties, to say we purchased this property for a song, will make our investors sing," said Gary Gauthier, President/CEO, Gulf West Investment Properties, Inc. (Pinksheets: GLFW).

For further information, contact cjones@cjonesconsulting.com

Marcus & Millichap Lists $53M Development Site in Tampa, FL

TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the Fremont Apartments  (top left rendering) development site in Tampa, upon which a 306-unit Class A multifamily property is being developed.

The development site is located in the 10-acre West End Tampa redevelopment project, which will contain approximately 1.5 million square feet of commercial and residential space upon completion. The development site is listed at $53.5 million, which represents the all-in cost.

Paul Bouldin, (middle right photo) Casey Babb, (middle left photo) CCIM, and Bill Renje, (bottom right photo) CCIM, all senior associates in Marcus & Millichap’s Tampa office, are representing the developer, Morin Development.

The Fremont Apartments site is within three miles of more than 20 million square feet of office space, two super regional malls and the Tampa International Airport. The site is also within two blocks of Tampa General Hospital’s newly announced rehabilitation hospital and medical complex, the University of Tampa and Hyde Park.

The Fremont Apartments complex will be financed with a 90 percent construction/permanent loan. The loan will be assumable and nonrecourse with a 40-year fixed interest rate of 6.6 percent and a 40-year amortization and term.

“Demonstrating further demand for this type of product, another multifamily community within the West End redevelopment project, The Vintage Lofts at West End Apartments, was pre-sold for $175,000 per unit in August 2008 and achieved 90 percent occupancy within six months of delivery,” says Babb.

“The Vintage Lofts is currently 98 percent occupied and 99 percent leased. Large-cap apartment development sites within the South Tampa submarket are virtually nonexistent, which is why the existing properties are nearly full and why the existing owners rarely sell,” adds Babb.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Linda Simpson Joins Grubb & Ellis Company as Vice President, Multi Housing

DALLAS, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Linda Simpson (top right photo) has joined the company as vice president, Multi Housing Group.

“Linda has had great success in the investment sector,” said Moody Younger, (bottom left photo)  executive managing director of Grubb & Ellis’ Texas offices. “She joins Grubb & Ellis with numerous client relationships and will be an outstanding addition to our office and the national Multi Housing Group.”

With 19 years of experience in the commercial real estate industry, Simpson has held senior investment sales positions with Jones Lang LaSalle, Trammell Crow Company and Holliday Fenoglio Fowler L.P. She joins Grubb & Ellis from Transwestern, where she spent four years as a vice president providing office leasing, investment consultation and due diligence services to third party clients.

Throughout her career, Simpson has been involved in investment transactions valued in excess of $1.4 billion. Her clients include RREEF, Urdang, Morgan Stanley, JP Morgan, Amerivest, Alecta, Blackstone Group, Invesco, CommonFund and Principal Real Estate Investors.

Simpson holds a bachelor’s degree from Stephens College and has served on the board of directors for the Dallas chapter of Commercial Real Estate for Women. She was recognized as a Best Commercial Real Estate Broker by D CEO Magazine in 2009.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com