Grubb & Ellis Selected to Market 142 Acres of Land Known as “Holy City” in Los Gatos, CA

  

SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that private real estate investor Earl Pelligrini selected Dave Haugh, senior vice president, and James Viso, associate,  both of the Industrial Group, to market for sale 142 acres of land known as the “Holy City” in Los Gatos (top left photo). 

 Located east of Highway 17 along the Old Santa Cruz Highway, the land is being marketed with the opportunity for development. 

The Holy City was founded in 1919 by cult leader William E. Riker (lower left photo) and roughly 30 followers.  It was incorporated as a town in 1926 and included tourist services, a restaurant and a gas station.  The Holy City grew to more than 300 residents.  It was disincorporated in 1959 and one retail building remains on the land.  It also continues to have its own zip code: 95026.

 “This large parcel of land provides prospective investors with the opportunity to develop in an area that is rich in history and is also easily accessible via Highway 17 and the Old Santa Cruz Highway,” said Haugh.  “It’s a beautiful area with quite a bit of potential.”

Contact:  Julia McCartney, Phone: 714.975.2230                                     

Email:   julia.mccartney@grubb-ellis.com                                                                                                               

Behringer Harvard Acquires Second Multifamily Property in Fort Lauderdale Metro Area

DALLAS, TX  /PRNewswire/ -- Behringer Harvard announced today its acquisition of a 280-unit, garden-style multifamily community at 5750 Lakeside Drive, immediately east of U.S. Highway 441 in Margate, Florida.

 The community, which will be rebranded as Lakes of Margate (middle right photo), comprises 13 apartment buildings of two or three stories each, a clubhouse, and two storage buildings, all constructed in 1986-1987 on a 13.8-acre site 15 miles southeast of Fort Lauderdale-Hollywood International Airport.

"Lakes of Margate is a well-leased multifamily community with a long history of stabilized occupancy in one of Fort Lauderdale's strongest apartment submarkets. This property also offers strong potential for value creation through unit upgrades," said Mr. Samuel A. Gillespie, Chief Operating Officer of Behringer Harvard Opportunity REIT II, Inc.

 "We're pleased to pursue a second co-investment project with Grand Peaks Properties, a respected real estate firm with strong experience in strategically acquiring and managing multifamily communities across the country."

Behringer Harvard acquired a 92.5 percent ownership interest in Lakes at Margate, which was purchased for the portfolio of Behringer Harvard Opportunity REIT II, Inc.

Denver-based Grand Peaks Properties acquired a 7.5 percent ownership interest and will assume management of the property. Lakes of Margate was 94 percent leased as of September 30, 2011.

 The new owners plan to invest approximately $2.3 million in capital improvements including upgrades to the apartment units.

Contact:  Barbara Marler of Behringer Harvard, +1-469-341-2312, bmarler@behringerharvard.com; or Nicole Traycoff of Richards Partners for Behringer Harvard, +1-214-891-5751, nicole_traycoff@richards.com

Web Site: http://www.bhfunds.com/

Marcus & Millichap Announces Two Promotions in Oak Brook, IL and Detroit

Ryan Engle Promoted in Oak Brook, IL Office

OAK BROOK, IL– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Ryan Engle (top right photo) to associate 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 Steven D. Weinstock (bottom left photo), regional manager of the firm’s Oak Brook, Ill. office.

Most recently, Engle held the title of senior associate in the Oak Brook office.

After being named an associate of the firm in February 2007, Engle was promoted to senior associate in October 2008. He has received two sales recognition awards from Marcus & Millichap.

Engle is an associate director of the firm’s National Multi Housing Group and Special Assets Services Group.

Andrew S. Daitch Earns New Post in Detroit

 DETROIT, MI –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Andrew S. Daitch (middle right 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 Jonathan Dwoskin (lower left photo), regional manager of the firm’s Detroit office.

Most recently, Daitch held the title of vice president investments.

Daitch joined the firm in January 2000 and was promoted to senior associate in August 2005. He was named vice president investments in July 2008. He has received nine sales recognition awards from Marcus & Millichap.

Daitch specializes in the sale of multifamily investment real estate. He is a senior director of the firm’s National Multi Housing Group and was one of the firm’s Top Ten agents nationwide in 2008.

  

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

Stirling Sotheby’s International Realty named exclusive broker of the Historic Metcalf Building in Downtown Orlando

ORLANDO, FL. --- Stirling Sotheby’s International Realty has been named exclusive brokers for the historic Metcalf Building (top left photo), located on S. Orange Avenue and Pine Street in Downtown Orlando directly across from The Plaza twin towers building.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando, said the historic 10 story building was one of Orlando’s first “skyscrapers” when it was constructed in the center of the central business district in 1923.

The nearly 40,000 square foot building served as Disney’s first Florida headquarters. The Metcalf building was extensively renovated and restored in 2003.

Current tenants include Lawyers Alvarez, Sambol & Winthrop, P.A., the downtown branch of TDBank and Tanqueray’s Bar and Grille, a popular downtown nightspot for more than 30 years.

Stirling’s commercial real estate specialists Jere Matheny (middle right photo) and Mark Arnold (lower left photo) listed the building for sale.

Matheny said the building will be extensively marketed to national and international buyers, real estate investment firms and potential investors.  

Early interest in the building has come from Canada, the Mideast and South America. 

Stirling will be launching an extensive global marketing campaign that will include 580 Sotheby’s International Realty offices in 42 countries.

“There is a good chance the buyer will be an international real estate investor from outside the U.S.,” said Matheny.

To see a brochure on the property, go to http://metcalfbuilding.com/pdf/100_S_Orange_Ave_Brochure.pdf

To view  a video of the Metcalf building, go to

 http://vidnat.com/watch_video.php?v=OD97HR372MA5#current_quick_share

 For media information, contact

 Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com.  

Crossman & Co. Completes New Long Term Lease Agreement with Great Clips at Shoppes of Citrus Park in Tampa, FL

TAMPA, FlL--  Crossman & Company, the Orlando-based firm that ranks as one of the largest retail property management and leasing companies in the Southeast, recently negotiated a five-year lease at the Shoppes of Citrus Park, 7851 Gunn Highway in Tampa.

Leasing Associate Tracy Harrison represented the landlord at the Shoppes of Citrus Park in the retail lease agreement for 1,200 square feet.  The new tenant, Great Clips was represented by Brian Bern of Franklin Street Real Estate Services.

For more information, contact:

Tracy Harrison, Leasing Associate, Crossman & Company, 407-423-5400 

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.

WeinPlus develops CLEAR process improvement solution

ST. PETERSBURG, FL. --- WeinPlus Real Estate Advisory Services in St. Petersburg plans to trademark the CLEAR process improvement system it developed for its clients including both publicly traded and private real estate owners, a leading grocery retailer and a public school district.

Rachel Elias Wein (top right photo), AIA, principal of WeinPlus, said her CLEAR process improvement technique has applications in many industries besides commercial real estate development.

CLEAR is highly effective, Wein said, because it is logical, practical and productive.

Already, CLEAR has helped a publicly traded REIT dramatically improve its tenant coordination procedures by increasing efficiency, directly resulting in hundreds of thousands of dollars in additional revenue.

“CLEAR stands for Collaborate, Learn, Evaluate, Act and Respond,” Wein explained.

For more information, contact

Rachel Elias Wein, AIA, Principal, WeinPlus, 727-386-9346, http://www.weinplusassociates.com/

Larry Vershel, Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

NAI Realvest Negotiates New Class A Office Lease at Primera Court I in Lake Mary, FL

 ORLANDO, FL --- NAI Realvest recently negotiated a new lease agreement for 2,670 square feet of Class A office space at Suite 235, Primera Court I, 725 Primera Blvd. in Lake Mary. 

 NAI Realvest Senior Broker Associate Mary Frances West (top right photo), CCIM brokered the transaction.   The landlord at Primera Court I is Interchange-Primera I, LLC based in Daytona Beach. 

 The new tenant America’s Mortgage Professionals, a lender that specializes in residential mortgages including FHA, VA, Freddie Mac and Fannie Mae, is headquartered in Fort Lauderdale.   

For more information, contact:

Mary Frances West CCIM, NAI Realvest, 407-875-9989,  mwest@realvest.com;

Patrick Mahoney, President, NAI Realvest 407-875-9989,  pmahoney@realvest.com;  

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

NAI Realvest Negotiates Renewal Lease of more than 20,600 SF of Industrial Space in Orlando, FL

MAITLAND, FL – NAI Realvest recently negotiated a renewal lease agreement for 20,610 square feet of industrial space in Suite 202 at 7803 Southland Blvd., off Sandlake Road in southwest Orlando.

 Robert Blackwell (top right photo), SIOR principal at the firm, and Suzanne Serino of Avison Young in Chicago, negotiated the transaction representing the tenant Streamlite, Inc. of Atlanta, Ga.

 The landlord is Distribution Funding, LLC of Orlando, represented by Bryan O’Hair of Prologis.

For more information, contact:  

Robert Blackwell, SIOR, NAI Realvest 407-875-9989; or rblackwell@realvest.com;     

Patrick Mahoney, President, NAI Realvest 407-875-9989,  pmahoney@realvest.com;  

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