Sunday, February 19, 2012

Grubb & Ellis Represents InterPark in Acquisition of Museum Parc Parking Garage in San Francisco

SAN FRANCISCO, CA– Grubb & Ellis Company announced that Seth McKinnon (top right photo), vice president, Investment Services, represented InterPark LLC in the acquisition of Museum Parc Garage (middle left photo), a three-story, 353-stall parking structure located at 300 3rd St., from an private seller.

 “Museum Parc is an extremely well-located parking asset that benefits from significant and diverse demand generators ranging from a rapidly expanding technology base to existing condominium owners and resurgence in convention business,” McKinnon said.

 InterPark LLC is the premier owner of parking assets in the U.S. The company also owns and operates PreFlight Airport Parking, an off-airport parking provider with locations at nine of the largest airports in the United States.

This represents the third parking garage transaction McKinnon has facilitated over the past 12 months.

 In February 2011, he represented AGI Capital and TMG Partners in the disposition of the 364-stall SOMA Grand Garage, located at 1160 Mission Street, to a private buyer. In addition, he represented a private seller in the disposition of a 185-stall parking garage located at 490 Post St.

 In total, McKinnon has transacted 902 parking stalls with a combined consideration of $28 million. 

 “We work closely with local and national parking operators and investors to ensure they have a full understanding of a market’s parking demand and trends. Other factors, such as a city’s parking codes, tax laws and future parking initiatives, also come into play when a client is making a decision about a parking structure,” he added.

 For more information, contact

Seth, McKinnon, 415.694.9698.
 Monica Sparreo, 312.698.6709,            

National Retail Properties Inc. Declares Dividend for Its Series C Preferred Stock

ORLANDO, FL -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend on its Series C Cumulative Redeemable Preferred Stock of 46.09375 cents per depositary share payable March 15, 2012, to shareholders of record on February 29, 2012.

The dividend represents an annualized rate of $1.84375 per depositary share.

National Retail Properties invests primarily in high‐quality retail properties subject generally to long‐term, net leases. As of December 31, 2011, the company owned 1,422 properties in 47 state with a gross leasable area of approximately 16.4 million square feet. For more information on the company, visit

Kevin B. Habicht
Chief Financial Officer
(407) 265‐7348

345 South Beach Condo Units in Florida Trade In Bulk For $124 Million

MIAMI, FL -- Nearly 350 South Beach residential and commercial condo units in a pair of projects - the Paradiso (top left photo) and Roney Palace (lower right photo) - on the ocean side of Collins Avenue have traded for nearly $124 million, according to a new report from

The buyers – 2377 Collins Resort LP and Roney 3 Investors LP both with Eric Franklin of Rinaldi, Finkelstein & Franklin of Greenwich, Conn. as contact – acquired the condo units in the first week of February 2012, according to an analysis of Miami-Dade County records.

The condos are part of a series of transactions totaling nearly $230 million that includes 340 hotel rooms in the former Gansevoort Miami Beach Hotel and more than 50,000 square feet of developable land on the west side of Collins Avenue, according to government records.

A consortium of investment funds comprised of Starwood Capital Group, the LeFrak Organization, and Invesco Limited has issued a joint statement claiming credit for the deal but declining to disclose the purchase price.

The consortium did state it intends to invest "$100 million in an extensive renovation of the overall property" in hopes of repositioning the project into being one of Miami Beach "premier" destinations.

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

Ownership Culture Rockets McCarthy Building Companies Up 102 Spots to Number 10 on the Training Top 125

 Newport Beach, CA (Feb. 20, 2012) – McCarthy Building Companies, Inc. one of the nation’s oldest and largest privately-held construction companies and a 100 percent employee-owned business, was honored last night with a 2012 Training Magazine Top 125 Award.

The award was presented during the Training 2012 Conference & Expo in Atlanta, recognizing the top companies based on excellence in employer-sponsored training and development programs. For the second year in a row, McCarthy was honored with placement on the prestigious list, moving up 102 spots from 112th in 2011 to 10th in this year’s ranking.

 “As an employee-owned company, it is our responsibility to help one another achieve our greatest potential,” explained McCarthy Chairman and CEO Mike Bolen (top right photo).

“And in our highly technical industry with little room for error we know we must meet the highest standards in construction quality and safety. When each of our 1,400 owners focuses on small incremental improvements, the impact is very powerful.

“Our comprehensive approach to training and development is a key part of this process. To be included once again among the Training Top 125 companies is an outstanding honor.”

For a complete copy of the company’s news release, please contact:

Laura Mickelson (LM Communications)
(949) 453-0851

Susan Garritano (McCarthy Building Companies, Inc.)
(314) 968-3300

Engel & Volkers Introduces the "Barefoot House" to the Market in Jupiter Island, FL

NAPLES, FL /PRNewswire/ -- Engel & Volkers Florida, a globally recognized luxury real estate firm, announces their Jupiter Yacht Club location's recent listing of a historic beach house, also referred to as the Barefoot House.

The estate which has been in one family for three generations is located on 365 South Beach Road in Jupiter Island.

The residence comes with impressive amenities that include a large wood burning fireplace and two guest suites.

The tranquil house once belonged to Four Star General James A. Van Fleet (lower right photo), a soldier described by resident Harry Truman as "the greatest general" our nation has ever had.

 Nicknamed the "Barefoot House" by a member of the family, this home has seen a mixture of formal elegance and casual relaxation, all enhanced by its unique setting on one of the world's greatest beaches.

For a complete copy of the company’s news release, please contact:

Rachel Levy
Levy Communications
305.592.5389 x 103