Two Rite Aid Sales in Wildomar, CA Arranged by Alvin Mansour of Marcus & Millichap

  

SAN DIEGO, CA Aug. 26, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of two Rite Aid net-leased assets in Southern California. Combined, the two drugstores traded for $6,484,500 and are located in Wildomar, Calif., and San Diego.

Alvin Mansour (lower right photo), a senior vice president and senior director of Marcus & Millichap’s National Retail Group (NRG), represented both the seller and buyer in these two separate transactions.

The Rite Aid in Wildomar was sold by a developer to a private investor. Mansour also negotiated the sale of a Rite Aid in San Diego to a private investor. The seller was a family trust.

Despite facing numerous hurdles such as Rite Aid’s poor credit rating and recent store closings across the country, Mansour was able to locate two private investors who understood the value of acquiring well located, single-tenant assets in Southern California.

As one of the most active drugstore investment sales agents in the nation, Mansour sold seven Walgreens drugstores located throughout the country for $36.4 million in June of 2011 alone.

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

A&P Opens New Superfresh Store in Philadelphia’s Northern Liberties Neighborhood

MONTVALE, N.J.--(BUSINESS WIRE)--The Great Atlantic & Pacific Tea Company, Inc. (A&P, OTC: GAPTQ) today officially opens its brand-new Superfresh store at North 2nd Street and West Girard Avenue in Philadelphia’s Northern Liberties neighborhood.

 Mayor Michael A. Nutter (top right photo) and other community leaders will join A&P’s President and CEO Sam Martin (lower left photo) and Superfresh Associates in a grand opening ribbon-cutting ceremony, followed by a day filled with fun festivities for customers.

The 51,000 square foot neighborhood store offers residents in Northern Liberties and the surrounding community a full range of fresh and healthy foods, quality grocery items and gourmet offerings.

Highlights include an expanded selection of locally grown produce, meat, poultry and seafood; a fresh, in-store sushi bar; delicious, freshly prepared favorites across its hot food, antipasto, olive, soup, salad and wing bars; grab-and-go meals of many varieties; expanded international offerings; and a full-service pharmacy.

The store also will offer delivery service to customers, within two hours of their purchases.

For more information, visit http://www.superfreshfood.com/

or http://www.facebook.com/NorthernLibertiesSuperfresh

Contact

A&P Public Relations

Marcy Connor, 201-571-4453

Hendricks & Partners Promotes Mary Beale to Broker Assistant in Orlando Office

ORLANDO, FL. --- Hendricks & Partners has promoted Mary Beale (top right photo) to broker assistant.

Cole Whitaker, partner at Hendricks & Partners, who heads the firm’s Southeast region, said Beale will assist Whitaker and associate director Hal Warren to focus on sales of multi-family properties.

Whitaker said Beale, a graduate of Florida State University, most recently served as an intern at Hendricks & Partners.  

For more information, contact:

Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880, cwhitaker@HPAPTS.com;  

Hal Warren, Associate Partner, Hendricks & Partners 407-218-8881 hwarren@HPAPTS.com;  Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

First Green Bank headquarters facility in Mount Dora, FL LED parking lot lighting provides 80 percent energy savings

EUSTIS, FL – When First Green Bank opens its new headquarters facility on U.S. 441 in Mount Dora in October, LED parking lot lights will light up the parking lot while minimizing energy usage and ecological interference and leaving the stars in the  night sky visible.

 Ken LaRoe, chairman and chief executive officer of First Green Bank, said the new lighting employs quality LED chips with high performance reflectors that provide up to 14,000 lumens of light and are a feature of the energy efficient and environmentally sustainable design of the facility overall.

The parking lot and perimeter of our headquarters is designed to minimize light pollution in an effort to reduce light trespass from the building and the site, reduce sky glow, increase night sky access and reduce the development’s impact on local nocturnal creatures, LaRoe said.

Manufactured by LSI Industries in Cincinnati, the lighting system will save a projected 80 percent in energy expenditure over conventional floodlights.

“Our new lighting system will pay for itself in just three years,” LaRoe said.

 The lighting system is one of many features in the new bank facility that will earn First Green Bank Lake County’s first commercial construction LEED Platinum designation from the U.S. Green Building Council for energy efficiency, environmental and safety security.

For more information about this press release, contact:  

Kenneth E. LaRoe, Chairman and CEO, LEED® AP, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780, lvershelco@aol.com   

Marcus & Millichap Sells Bank of America Branch Building in Belleair Bluffs, FL

   

BELLEAIR BLUFFS, FL, Aug. 26, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a Bank of America (top left photo) branch building, an 18,295-square foot property located in Belleair Bluffs, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

Michael J. Jaworski (middle right photo)and Benjamin Berry (lower left photo), investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of Carlos Yepes of Belleair Development, the seller. 

The listing agents also secured the buyer of the property, a private investor from Boothbay, Maine.

 Located at 125 Indian Rocks Road, the property is constructed as a classic decorative brick colonial, which is a rare find in Florida.  It has great curb appeal, complete with copper accents and other architectural queues. 

“This was an example of flight to quality,” says Jaworski.  “The property has a long term Bank of America lease and a strong deposit base.  The asset sold for about an 8 percent cap rate,” adds Jaworski.

 Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa, (813) 387-4700

Marcus & Millichap Promotes Two Professionals to Positions of Vice President Investments

  

Kyle B. Matthews Earns New Post in Encino, CA Office

ENCINO, CA– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Kyle B. Matthews (top right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an associate has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Adam P. Christofferson (top left photo), first vice president and regional manager of the firm’s Encino office.

  “Kyle has earned a reputation as an extremely knowledgeable investment specialist,” says Christofferson. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

Matthews began his career with Marcus & Millichap in February 2005, specializing in the sale of retail properties.

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

Brian S. Munn Moves Up Ladder in Atlanta

ATLANTA, GA – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Brian S. Munn (middle right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an agent has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to John M. Leonard (lower left photo), first vice president and regional manager of the firm’s Atlanta office.

 “Brian has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Leonard. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

Munn began his career with Marcus & Millichap in September 2004, specializing in the sale of retail properties.

 Most recently, Munn held the position of senior associate.

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

HFF arranges $42 million refinancing for The Center at 600 Vine in Cincinnati, OH

 LOS ANGELES, CA – HFF announced today that it has arranged a $42 million refinancing for The Center at 600 Vine (top left photo), a 625,765-square-foot, Class A office building in Cincinnati, Ohio.

HFF worked on behalf of the borrower, Hertz Investment Group LLC, to secure the 36-month, adjustable-rate loan through US Bank.  Financing proceeds are replacing a maturing loan and providing for tenant improvements, leasing commissions and building capital costs.

 Originally built in 1984 as the Convergys Center, the property underwent a $9 million renovation in 2006 and was renamed The Center at 600 Vine. 

The property is currently 68 percent leased to tenants including FirstGroup America.  Parking is provided in a 449-stall underground facility.  The Center at 600 Vine is located on the corner of 6th Street East and Vine Street in downtown Cincinnati.

The HFF team representing the borrower, Hertz Investment Group LLC, was led by managing director Mark Wintner (lower right photo).

Founded in 1979, Hertz Investment Group LLC is a privately-owned, vertically-integrated real estate investor and operator.

Contacts:

Mark Winter, HFF Managing Director, (310) 407-2100, mwintner@hfflp.com                                                   

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,                   

krmurphy@hfflp.com                                                                              

HFF secures $44.07 million construction/mezzanine financing for Gallery at Cameron Village in Raleigh, NC

DALLAS, TX – HFF announced today that it has arranged $44.07 million in construction and mezzanine loans for the Gallery at Cameron Village (top left rendering), a 282-unit, Class A multi-housing community under construction in Raleigh, North Carolina.

HFF worked on behalf of the borrower, Crescent Resources, LLC, to secure the $34.29 million construction loan through Capital One.  Nationwide Insurance provided the $9.7 million mezzanine loan. 

The Gallery at Cameron Village is located at the northeast corner of Oberlin Road and Clark Avenue within Cameron Village, a 600,000-square-foot shopping destination within walking distance of North Carolina State University and within two miles of downtown Raleigh.

 Due for completion in spring 2013, the six-story building will have three-stories of structured parking plus 16,000 square feet of retail space and 8,000 square feet of resident service space.  Amenities will include a clubroom with wine bar, show kitchen, gaming area, business/study center, fitness center, resort-style salt water swimming pool with an aqua sun deck and grilling stations. 

The HFF team representing Crescent Resources, LLC was led by director Travis Anderson  and senior managing director Tim Jordan.  (lower right photo)

“Cameron Village is the ultimate shopping and dining destination in Raleigh, and we are excited to deliver the first multifamily experience in Cameron Village,” said Brian Natwick, president of Crescent’s multifamily division. “Gallery at Cameron Village will bring luxury apartment homes with a unique design to complement this extraordinary location.”  Visit www.livecameronvillage.com to learn more.

Contacts:

Travis Anderson, HFF Director, (214) 265-0880, tanderson@hfflp.com                                         

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,                   

krmurphy@hfflp.com                                                                        

 www.crescent-resources.com.