Colliers International Completes $3.725M Medical Office Sale in Huntington Park, CA

LOS ANGELES, CA– Colliers International, the second largest real estate services organization globally, has completed the sale of a 7,400-square-foot medical office building at 5932 Rugby Ave. in Huntington Park, Calif., to a private investor for $3,725,000.

Constructed in 2009, the state-of-the-art, built-to-suit medical office building is leased for 12 years to DaVita, Inc. (NYSE: DVA), a Fortune 500 company providing dialysis services in North America.

“There continues to be high demand for newly constructed, infill real estate investments with credit tenants on lease terms of 10 years or more.

"We received multiple offers for this highly-specialized medical office building due to its infill location, the credit of the tenant and term of the lease,” said Scott Heaton (top right photo), senior vice president in Colliers’ Downtown Los Angeles office.

Heaton, along with Patrick Barnes, (lower right photo)  associate vice president in Colliers’ Downtown Los Angeles office, represented the both the buyer and the seller, GRAE Ventures, a West Los Angeles-based commercial real estate development company that focuses on single and multiple credit-tenant projects.

Contact: Megan Morales, Marketing & PR Coordinator,Dir +1 949 724 5537, Mob +1 714 273 2472, Main +1 949 474 0707, Fax +1 949 724 5600, megan.morales@colliers.com

HFF arranges $10.55M refinancing of Class A multi-housing project in Dallas’ Design District

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $10.55 million refinancing for Trinity Lofts, a 93-unit, Class A multi-housing community in Dallas’ Design District.

HFF senior managing director John Brownlee (top right photo)  and senior real estate analyst Mike Ostella worked on behalf of Alpha-Barnes Real Estate Services and the Jim Lake Companies to secure the seven-year, fixed-rate securitized loan through Freddie Mac (Federal Home Loan Mortgage Corporation).

HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.

Trinity Lofts (middle left photo)  is located at 1403 Slocum close to Interstates 30 and 35 and the Dallas North Tollway, and within walking distance to the Victory Park development and the American Airlines Center.

Completed in 2005, the property has loft-style, one-, two- and three-bedroom units plus 28,000 square feet of retail/showroom space within five buildings.

Residential amenities include a fitness center, rooftop terrace, four-story internal atrium area, conference/media room and reserved/covered parking. Trinity Lofts is 92% leased and commercial tenants include Ferguson Supply.

“Trinity Lofts has an exceptional location in Dallas’ Design District (lower right photo)  with easy access to major employments areas such as Downtown, Uptown, Preston Center and the Stemmons Corridor,” said Brownlee.

Alpha-Barnes Real Estate Services currently owns or manages approximately 100 communities with a total unit count of more than 14,000 units. Alpha-Barnes focuses on development and property management of multi-family properties, new and existing, primarily in Texas.

Jim Lake Companies, established in 1964, focuses on Adaptive Urban Redevelopment in Dallas and maintains an inventory of 1,850,000 square feet of commercial properties.

Contacts:
John S. Brownlee, HFF Senior Managing Director, (214) 265-0880, jbrownlee@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com

Marcus & Millichap Names Scott D. Lamontagne to Vice President Investments in Oklahoma City

OKLAHOMA CITY, OK Aug. 12, 20 10 – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Scott D. Lamontagne (top right photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to John J. Kerin (middle  left photo), president and chief executive officer.

Most recently, Lamontagne held the position of associate vice president investments.

Lamontagne began his career with Marcus & Millichap in 2003, specializing in multifamily investment sales.

Chad H. O'Connor Moves to Vice President Capital Markets in San Diego

SAN DIEGO, CA, Aug. 12, 2010 –Marcus & Millichap Capital Corp. (MMCC) has named Chad H. O’Connor (middle right photo)to the position of vice president capital markets.


The achievement of vice president capital markets status is one of the highest levels of recognition the firm awards its originators.

It represents tremendous market knowledge, superior transaction expertise and commitment to providing clients with excellent capital markets knowledge and advisory services, according to William E. Hughes, (lower left photo) senior vice president and managing director of MMCC.

Most recently, O’Connor held the position of director. O’Connor began his career with MMCC in 2004.

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

Equity REIT Returns Rise 9.52% in July

ORLANDO, FL--CB Richard Ellis-Orlando reports equity REIT returns rose 9.52% in July, according to the FTSE NAREIT Equity REIT Index.

Total returns for all REIT sectors increased over June's numbers. Year-to-date, the apartment and self-storage sectors lead the way, with industrial and office/industrial mix being the worst performing.


For the first time since the start of the financial crisis in August 2007, U.S. investors own more Treasuries than foreign holders at 50.2%.

Demand is climbing as consumer spending and incomes stagnate and the savings rate reaches the highest level in almost 18 years, 6.4% as stated by Bloomberg.

For a complete copy of the report, please contact:
Ronald J. Rogg, (top right photo) CCIM, Executive Vice President, 407.839.3194, ron.rogg@cbre.com

NAI Realvest Negotiates $579,000 Sale of Oceanfront parcel to the City of Daytona Beach, FL

MAITLAND, FL– NAI Realvest recently negotiated the sale of a 0.23 acre parcel of land at 39 South Ocean Ave. in Daytona Beach for $579,000.

Thomas E. Hankins (top right photo), CCIM, SIOR, principal at NAI Realvest in Maitland, negotiated the transaction representing the seller, BB&T as successor for Colonial Bank of Winston-Salem, N.C.

The City of Daytona Beach purchased the property for parking. Thomas Corso of Charles Wayne Properties represented the City.

For more information, please contact:
Thomas Hankins, Principal NAI Realvest, 407-875-9989 thankins@realvest.com
Patrick Mahoney, Chief Operating Officer, NAI Realvest, 407-875-9989, pmahoney@realvest.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Marketplace Advisors negotiates sale of 6.6 acre site on Howell Branch Road in Seminole County, FL

ORLANDO, FL. – Marketplace Advisors, Inc. recently negotiated the sale of a 6.6 acre site on Howell Branch Road in Seminole County.

David Marks, (top right photo) president of Marketplace Advisors, Inc. negotiated the sale representing the buyer, Howell Branch Cove, Ltd.

Jeff Bornstein, with Coldwell Banker Commercial NRT represented the Seller, Branch Investments, LLC.

The purchase price was $1,000,000.

For more information, please contact:
David Marks, Marketplace Advisors, Inc., 407-599-0007, dmarks@cfl.rr.com;
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Faris Lee Investments Completes $11.75M Sale of The Town Center Ontario in Ontario, CA

IRVINE, CA, Aug. 12, 2010 – Faris Lee Investments, the nation’s largest retail-specialized investment sales and advisory team, has completed the $11.75 million sale of The Town Center Ontario, a 128,330-square-foot retail property that was 85 percent vacant at the close of escrow.

 Built in 2002, the center is situated on approximately 11.59 acres and is located at 701-769 N. Milliken Ave in Ontario, Calif. Faris Lee was able to secure an international buyer prepared to pay all cash for the location.

Donald MacLellan, senior managing director, Faris Lee Investments, and Richard Walter (middle right photo), president, Faris Lee Investments, represented the seller, LNR, based in Miami, FL.

The buyer, who paid all cash, was Oxylane Groupe-Decathlon, one of the largest manufacturers of sports apparel and equipment in the world.

Based in France, Oxylane Groupe-Decathlon was represented by Epsteen & Assoc./Samuels Company. With this transaction, the retailer has confirmed Ontario as one of its first U.S. retail locations.

 The buyer cited the high traffic location at the confluence of the I-10 and I-15 freeways across from Ontario Mills, California’s largest outlet and value retail shopping destination at 1.7 million-square-feet, as important to its decision. Ontario Mills attracts more than 20 million visitors annually.

Faris Lee also worked with Oxylane Groupe-Decathlon and the City of Ontario to ensure the site met the retailer’s plans for a store opening to be announced at a later date.

“At first the center was a major marketing challenge because of its 85 percent vacancy,” said MacLellan. “However through Faris Lee’s proprietary investor database we were able to utilize a national and international database of buyers to identify an owner-user who planned on occupying a large portion of the center.”

Contact: Darcie Giacchetto, Spaulding Thompson & Associates, For Faris Lee Investments, 949.278.6224

Crossman & Company Negotiates Two New lease agreements for 3,170 SF at retail centers in Orlando

ORLANDO, FL - Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, recently negotiated new lease agreements for 3,170 square feet at two Orlando shopping centers.

John Crossman, president of Crossman & Company said leasing associate Daniel Germano (top right photo)  represented landlord, F.F. Fashion Village Partnership in a four-year lease agreement for 2,420 square feet at 3837 East Colonial Drive in Fashion Village. The new tenant, Avarta Wellness, provides chiropractic services.

Germano and associate Whitaker Leonhardt negotiated a three-year lease on behalf of the landlord Northbridge at Millennium Partners, a subsidiary of Concord Management, Ltd., for 750 square feet at Northbridge at Millenia Lake near the Mall at Millennia in southwest Orlando. The tenant, Pizza Napolitana, leased the space for three years.

For more information,  please contact:
Daniel Germano, Crossman & Company/ICSC Florida Next Generation Chair, 407-423-5400 dgermano@crossmanco.com;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Arbor Closes $2,25M Fannie Mae DUS® Small Loan for Echo Park Apartments inLos Angeles, CA

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,250,000 loan under the Fannie Mae DUS® Small Loan product line for the 28-unit complex known as Echo Park Apartments (top left photo)  in Los Angeles, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.85 percent.

The loan was originated by Greg Gillam (bottom right photo), Director, in Arbor’s full-service Manhattan Beach, CA, lending office.

 “This is another example of Fannie Mae’s ability to provide low-cost financing for apartment properties in Southern California that offer rental rates that are at or below market rents in the area,” Gillam said.

Contact:  COstrowski@arbor.com

'N Sync and Dancing With the Stars' Joey Fatone Says 'Bye Bye Bye' to $6.5M Estate on Millionaire's Row in Orlando

ORLANDO, Fla. – ‘N Sync pop-star Joey Fatone (top right photo)  says “Bye Bye Bye” to Paradise Found - a 12,000 square-foot home and 4.36 acre lakefront estate on Butler Chain of Lakes in Orlando.

On Sept. 11 the $6.5 million property will be up for bid by Worldwide Auction Realty Services in conjunction with broker Stirling Sotheby’s International Realty; showings are available by appointment only.

Fatone, who has resided in the home for 10 years, celebrates Orlando and plans to stay in the city by moving to a new area residence.

For more information about the property and auction, please contact:
Jon Chipps, Managing Director, Worldwide Auction Realty Services, Tel: 800-327-1048
Roger Soderstrom, Owner/Founder, Stirling Sotheby’s International Realty, Tel: 407-581-7890
 

Grubb & Ellis Tapped for Disposition of Fully Leased Airport Logistics Center in Indianapolis

ROSEMONT, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  has been selected to market 6450 W. Hanna Ave. in Indianapolis, a 220,835-square-foot logistics center located adjacent to Indianapolis International Airport (top left photo).

Erik Foster, CCIM, senior vice president, and Mike Wilson, associate vice president, both of the Institutional Capital Markets group, are marketing the property on an exclusive basis along with Grubb & Ellis’ local affiliate in Indianapolis, Grubb & Ellis Harding Dahm & Company.

 The facility is leased on a long-term basis to Regal-Beloit, which utilizes the facility as its North American logistics center.

“With a multi-billion-dollar credit tenant fully occupying the building on a long-term basis, this is a tremendous opportunity for investors,” said Foster.

 “We’ve experienced strong buyer response for similar well-leased core assets, particularly given market conditions.”

The facility is an institutional-quality asset that offers convenient access to I-465/1-74, I-70 and the Indianapolis Airport.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Daniel J. Mercer joins Grubb & Ellis  as senior vice president in Phoenix, AZ

PHOENIX (Aug. 12, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Daniel J. Mercer (bottom right photo)  has joined the company’s Financial Services Asset Management group as senior vice president, effective immediately.

With 37 years of experience, Mercer will oversee the company’s distressed asset services in the Phoenix region, including business development and account management. He will also serve as a court-appointed receiver.

“Dan is an exceptional talent with a vast array of experience in the banking and mortgage brokerage industries,” said Pete Bolton, (bottom left photo)  executive vice president and managing director of Grubb & Ellis’ Phoenix office. “He is the absolute perfect fit for the position and I am very pleased he has joined the company and our rapidly expanding office.”

Mercer joins Grubb & Ellis from Mercer Financial Group Ltd., a mortgage banking company he founded in 1985. Concurrently, he was a senior partner and founding member of Title Management Agency of Arizona LLC from 2003 until joining Grubb & Ellis.

Prior to Title Management Agency of Arizona, Mercer spent four years with AMI Capital Inc., where he established the company’s southwest regional mortgage banking office, serving as the managing director.

 During his career, he also held senior positions with CB Richard Ellis, Finova Realty Capital, Wells Fargo Bank, National Bank of Arizona and Sun State Savings and Loan Association. He began his career with First Federal Savings and Loan Association in 1973.

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

Entitled Aspen development parcel purchased by joint venture led by Alcion Ventures

BOSTON, MA – Alcion Ventures, in conjunction with Golub & Company of Chicago and Aspen based operating partner, Bald Mountain, announced this week that it has purchased a 2.4-acre parcel of land on South Aspen Street in Aspen, Colorado.

The acquisition of the land site was made in collaboration with the former owner Centurion Partners for $15 million.

The property is currently entitled for 14 luxury townhomes and 17 affordable housing units.

 The partnership is currently reviewing all development options including the viability of continuing with the previous owner’s plans for a 120,000-square-foot five-star luxury hotel project.

“Aspen is a unique and durable resort market and we pursued this parcel for several years before purchasing it at distressed pricing during its foreclosure.

"The property is the last major development parcel up against the mountain and we look forward to working with local constituents to have a lasting positive impact,” said Mark Potter, (middle right photo)  co-founder of Alcion.

Alcion is collaborating with Golub & Company and Bald Mountain Development, LLC, a local operator/developer with extensive knowledge in resort and residential real estate development.

The collective team is working with the Aspen City Community Development staff in finalizing its plans for the site. Golub & Company has been active in Aspen and Snowmass for decades.

“Our deep history in this region, combined with our 15-year relationship with Alcion principals, makes this opportunity a great fit,” said Michael Newman, (middle left photo)  President and CEO of Golub & Company. “We look forward to working with our partners and the Aspen community to create a vibrant and dynamic development.”

“Alcion has a thesis driven investment approach, and once Mark and I decided to focus our attention on the resort segment of the real estate industry, we quickly realized that Aspen was a unique place where we found multiple drivers of demand, constraints on supply and pricing power,” said Martin Zieff, (lower right photo)  Co-founder of Alcion.

“Since launching our search for a suitable investment more than a decade ago, we have reviewed or controlled almost every major parcel in downtown Aspen.

"With Bald Mountain, we undertook the development of the Hyatt Grand Aspen in 2000. We believe the Aspen Street land parcel will present us with an opportunity to produce superior risk adjusted returns.”

Contacts:

Mark Potter, Founding Partner, Alcion Ventures, 617.603.1002 mpotter@alcionventures.com

Mary Cerio, Associate, Alcion Ventures, 617.603.1020, mcerio@alcionventures.com

Laurie Fish McDowell, goFish! Communications, 617.875.5070, lkfish@hotmail.com

Gensler DC Welcomes Summer Intern Class 2010

WASHINGTON,, DC  – For more than 40 years, Gensler has been committed to nurturing the best and brightest emerging talent.

The DC office is proud to announce its 2010 Summer Internship Program – welcoming five aspiring professionals who will gain first-hand work experience at one of the leading architecture and design firms.

Gensler was recently awarded the American Institute of Architects (AIA) Internship Development Program (IDP) 2010 – 2013 “Outstanding Firm Award,” one of three firms honored in the country.

The IDP “Outstanding Firm Award” is the highest honor given to a firm that comprehensively and consistently demonstrates a commitment to licensure, early-career professional development and NCARB’s IDP process.

Interns were selected based on educational performance, degree and professional certifications and on an application and interview process. Gensler’s interns are in various stages of educational and professional development.

Introducing the Gensler Summer Intern Class of 2010:

Rachel Finkelstein, Tulane University, Masters of Architecture, Graduating 2012
Stephen Ramos, University of Maryland, Bachelor of Science, Mechanical Engineering; George Washington University, MFA Interior Design, Graduating Fall 2010
Leila Schey, University of Virginia, Bachelor of Science in Architecture, Graduated 2009
Thabo Lenneiye, University of Toronto, Bachelor of Arts and Fine Art History, 2007; University of Pennsylvania, Masters of Architecture, Graduating Fall 2010
Shannon O’Malley, Liberty University, Bachelor of Science, Marketing and minor in Fashion Textiles, Graduating Spring 2011

Contact: Julia Chappell, Director of Communications, +1 202.721.5341 Direct, +1 202.359.7949 Cell, +1 202.351.0541 eFax

Marcus & Millichap Capital Corp. Names William F. Wein Jr. to Vice President

ENCINO, CA., Aug. 11, 2010 –Marcus & Millichap Capital Corp. (MMCC) has named William F. Wein Jr. (top right photo)  to the position of vice president, according to William E. Hughes (top left photo), senior vice president and managing director of MMCC.

Working from the Chicago Downtown office, Wein will assist in managing the firm’s day-to-day operations, including working with MMCC’s loan originators in Texas, the Midwest, Southeast and East to arrange debt transactions for all types of commercial real estate.

In addition, he will assist these loan originators in developing and expanding their business.

“Bill’s capital markets expertise, combined with his institutional background, will make him an asset to expanding MMCC’s lines of business,” says Hughes.

Most recently, Wein was a managing director of Paine/Wetzel – Oncor International, Worldwide Real Estate Services, where he was responsible for daily operations and growth of the firm. From 2001 to 2007, Wein was executive vice president of Cohen Financial where he was responsible for running the 12 offices that comprised the capital markets unit.

To his new post, Wein brings 30 years of experience in the commercial real estate industry. He spent the past 22 years financing commercial investment properties for life insurance companies and CMBS lenders.

Wein is a graduate of Denison University and has an M.B.A. from Syracuse University.

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

ProLogis Leases 189,000SF in Mexico

MONTERREY, Mexico, Aug 12, 2010 /PRNewswire via COMTEX News Network/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed a third-quarter lease agreement for 189,000 square feet in Mexico to a leading global manufacturer.

The manufacturer will occupy the space at ProLogis Park Apodaca Building One, located in Monterrey, Mexico. This transaction brings ProLogis' Monterrey portfolio to be approximately 92 percent leased.

"We are pleased to sign another significant lease at ProLogis Park Apodaca," said Silvano Solis, ProLogis managing director and head of Mexico operations. "The building amenities and location are suitable for both bulk distribution and light manufacturing/assembly, which have been a draw for new customers."

ProLogis Park Apodaca (top left photo)  is located in the primary industrial corridor in Monterrey, off the Miguel Aleman Highway and less than three miles from General Mariano Escobedo International Airport.

With four existing facilities totaling 822,000 square feet, the park has additional land available to accommodate a total of 16 buildings and 3.4 million square feet at full build out.

Of the 189,000-square-foot transaction, approximately 100,000 square feet was previously unleased since completion of the building.

ProLogis is a leading provider of industrial and distribution space in Mexico with an 18.6-million-square-foot portfolio in 11 markets throughout the country. Additional ProLogis customers in Mexico include Bose Corporation, Black & Decker and Whirlpool.

  

 ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia.

The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.

For additional information about the company, go to http://www.prologis.com/.

Contact: Hadas Streit, Account Supervisor, Linden Alschuler & Kaplan, 1251 Avenue of the Americas, New York, NY 10020; 212.329.1406 direct, 201.723.6278 mobile, hstreit@lakpr.com