Court OKs Grubb & Ellis Sale to BGC Partners

 ORLANDO, FL -- On February 20, 2012, Grubb & Ellis announced an agreement to sell substantially all of its assets to BGC Partners in a Court-supervised process.  We are pleased to announce that the Court has approved this transaction as of yesterday. 

 BGC, Grubb & Ellis and its new partner Newmark Knight Frank, share a common goal: providing clients with world-class service and value-added advice. 

Grubb & Ellis’ strength in transaction and management services combined with Newmark Knight Frank’s consultative approach and sales and leasing operations will create one of the most innovative and dynamic platforms in the real estate market. 

The combination of the two companies will give Grubb & Ellis and Newmark Knight Frank more than 100 offices in North America, 250 million square feet in Property and Facilities Management and a national Appraisal business.

 As part of BGC, Grubb & Ellis will benefit from financial strength, experienced management, powerful proprietary technology and deep marketplace relationships, allowing us to create new opportunities to better serve our clients.

We look forward to continuing serving your real estate needs as part of the BGC organization.  I personally look forward to the opportunities this combination will provide us to grow our relationship with you now and into the future.

Jeffrey S. Sweeney, SIOR (top right photo)

Executive Vice President/Managing Director

Grubb & Ellis Company

20 North Orange Avenue,

 Suite 500, Orlando, FL  32801

Cell: 407.620.6336

 Fax: 407.841.0002

jeff.sweeney@grubb-ellis.com

www.grubb-ellis.com

Interstate Hotels & Resorts to Manage Khyber Mountain Resort and Spa in Gulmarg, India

  

 ARLINGTON, VA, March 29, 2012—Interstate Hotels & Resorts today announced that JHM Interstate India has signed a contract to manage the 85-room Khyber Mountain Resort and Spa (top left photo) in Kashmir, India.  The all-season resort, located at the foot of the Himalayas, is being developed by Pinnacle Resorts Pvt. Ltd., and is anticipated to open this winter. 

“This management agreement represents our seventh signed hotel in India and we are delighted to be selected as the operator of this world-class resort for a new owner,” said Jim Abrahamson (middle right photo), Interstate’s chief executive officer. 

 “Khyber Mountain Resort and Spa, situated at the foot of the Himalayas in Gulmarg (middle left photo), a well-known ski destination in Asia, will be a high-quality, resort that will take full advantage of its prime location year-round.

“Our strong partnership with JHM, coupled with our successful management platform model, international experience, depth of resources, and local in-country expertise translate into a significant competitive advantage. 

"As a result, we have developed a robust pipeline of management opportunities for franchised branded hotels and independent resorts that will enable us to continue our vigorous growth in Asia-Pacific in 2012 and beyond.”

“This will be the first major high end address in Gulmarg and  will require a great deal of attention to detail,” said Umar Tramboo (lower right photo) of Khyber. 

 “Interstate has a substantial history managing resort properties and is very familiar with this business model and its unique needs and requirements.  We look forward to working with them and building a relationship together.”  

 For more information on Khyber Mountain Resort and Spa, please visit: http://www.khyberhotels.com./

 For more information on JHM, contact Lloyd Lauland, Executive Director, JHM Interstate Hotels India, at 91 124 3091700, or visit the company’s website:  http://www.jhminterstate.com./ 

For more information on Interstate Hotels, visit http://www.interstatehotels.com/.

Connect with Interstate at www.linkedin.com/company/interstate-hotels-&-resorts, www.facebook.com/InterstateHotels, and http://jobs.interstatehotels.com/.

  

 Contact:

Chris Daly, Jerry Daly

Media                                                             

Daly Gray                                                      

(703) 435-6293                                              

chris@dalygray.com                                      

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Maury L. Carter & Associates Inc. Announces First-Quarter Transactions of Almost $10 Million in Florida

 ORLANDO, FL -- Maury L. Carter & Associates, Inc. got off to a fast start in the first quarter of 2012, closing nearly $10 million in transactions. In addition, the firm has another $11.7 million in transactions under contract.   

Maury L. Carter & Associates, Inc. recently handled the sale of 974 acres on the south side of Poinciana Parkway in Polk County.  The bank owned property was purchased by Poinciana Parkway SPE, LLC for $1,300,000 cash.  The Seller was Branch Banking and Trust Co. (BB&T) through its entity, Atlas FLI SPE, LLC.

Daryl M. Carter (top right photo) and John A. Evans (top left photo) of Maury L. Carter & Associates, Inc. represented the Seller.

This is the third bank owned property that Carter has sold in the last ninety (90) days.  Maury L. Carter & Associates, Inc. currently has four other bank owned listings under contract. 

In late December 2011 and late February 2012 respectively, Maury L. Carter & Associates, Inc. sold two properties for BB&T:  a 5± acre parcel along Lake Monroe on the south side of SR 17-92 in Sanford in Seminole County for $200,000 cash; and a 34+/- acre, 61 residential lots, parcel located in Sebastian in Indian River County for $300,000 cash. 

 The Buyer of the Sanford property was Florida Superior Properties Economic Community Services, Inc. and the Buyer of the Sebastian tract was Campanelli Development Corp.

Daryl M. Carter, President of Maury L. Carter & Associates, Inc. represented the Seller in both transactions.  Karen Ledet (lower right photo) with My Realty & Management Services, Inc. represented the Buyer in the Sanford transaction.  John Mellinger with ReMax Riverside represented the Buyer in the Sebastian transactio

 Maury L. Carter & Associates, Inc. represented the Seller, Saxon/Broward, Ltd, in the sale of an Office Depot in Orange City, Volusia County to Florida 101, LLC for $3,150,000 cash.  Daryl M. Carter with Maury L. Carter & Associates, Inc. and William Snow with SRS Real Estate Partners represented the Seller.

Maury L. Carter & Associates, Inc. represented the Seller, Carter-Folkston Trust, in the sale of 2,400± acres located about 40 miles north of Jacksonville, Florida in Folkston, Georgia to McB TL II, LLC for $4,932,400 cash.  Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the Seller and Christopher Mercer with Coastal Real Estate Services, LLC represented the Buyer.

Contact:

Joan M. Fisher

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200

Orlando, FL 32806-8500

407-581-6207 direct

407-422-3144 office

407-422-3155 fax

jfisher@maurycarter.com

www.maurycarter.com

www.disneyuniversalland.com

NAI Realvest Completes Renewal Lease Agreement with The Nemours Foundation for its 32,112 SF at La Vina Office at Lake Nona, FL

 MAITLAND, FL --- NAI Realvest recently negotiated a lease renewal agreement with The Nemours Foundation for 32,112 square feet of office space in Buildings A and B of LaVina Office at Lake Nona, 9145-9161 Narcoossee Rd. in southeast Orlando.

 Senior Broker Associate Mary Frances West (top right photo) CCIM negotiated the transaction representing Ripley’s International LLC, the Orlando-based landlord.  The building is currently 100 percent occupied.

 The Nemours Foundation, headquartered in Jacksonville was represented in the transaction by Mickey Hage of Mickey Hage, Inc.  

For more information, contact

Mary Frances West, CCIM, Senior Broker-Associate 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 Acquisition of 55 homesites in Phase III of Springleaf residential development in Ormond Beach, FL 

MAITLAND, FL – NAI Realvest recently negotiated the acquisition of a 13-acre parcel of residential land on Golf Avenue, west of Nova Road in Ormond Beach.

 Chris Butera (middle left photo), senior associate at NAI Realvest covering Volusia and Flagler counties, negotiated the transaction representing the buyer, St. Augustine Ventures. LLC, and the seller Gateway Bank of Florida located in Daytona Beach.

 The buyer paid $220,000 for the property comprised of 55 partially developed single-family lots.

For more information, contact:

Chris Butera, Senior Associate NAI Realvest 386-453-4789 cbutera@realvest.com;

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 

  

NAI Realvest Negotiates Office Lease at Airport Business Center in Orlando, FL 

ORLANDO, Fla. – NAI Realvest recently negotiated a new lease agreement for 2,278 square feet of office space at Airport Business Center, 5730-5892 S. Semoran Blvd. in Orlando

 Robert Blackwell (lower right photo), SIOR, a principal at NAI Realvest, negotiated the transaction representing the tenant, Animi LLC, of Windermere, a franchisee of Wise Up, a language school that teaches English as a second language.

The landlord, Alpharetta, Ga.-based General Electric Credit Equities, Inc. c/o General Electric Capital Corp., was represented in the transaction by Michael Sweeney of Colliers International.

For more information, please contact:

Robert Blackwell, SIOR Principal, NAI Realvest, 407-875-9989 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

Voit Real Estate Services’ Brokers Awarded Top Honors from the Association of Commercial Real Estate in Sacramento, CA

 Sacramento, CA– Jason Gallelli (top right photo) and Gary Gallelli (middle left photo) of Voit Real Estate Services’ Sacramento office were honored by the Sacramento, Calif.-based Association of Commercial Real Estate (ACRE) last week at the organization’s annual award ceremony, with participation by all major brokerage houses in Sacramento. 

Voit’s Jason Gallelli was named “Broker of the Year,” a distinguished award presented to one broker in Sacramento who has achieved outstanding results within the commercial real estate industry.

In addition, Jason Gallelli was recognized as “Top Retail Broker of the Year,” while Gary Gallelli was named “Top Investment Broker of the Year.” Each of these honors is bestowed on the broker who achieved the highest gross commissions in their respective categories.

“Just a year and half after opening its Sacramento office, Voit is proud to announce these achievements.  The success of our team members reflects the impact Voit has had on the Greater Sacramento market thus far,” said Kevin Sheehan (lower right photo), Managing Director of Voit’s Sacramento office.

 

More than 700 people attended the ACRE Awards, where Voit was awarded three of the eight awards presented. 

 “Voit has created an environment where brokers can and do thrive,” said Jason Gallelli. “The company’s integrated services and unique entrepreneurial structure ensure that we have the tools we need to succeed in the current market. These awards speak to the strength of our team as a whole, and demonstrate why Voit is a leader in the industry.”

Voit is still adding to its Sacramento team, according to Sheehan, who confirmed that the firm is actively recruiting top industry talent for a limited number of available positions.

  Contact:

Jenn Quader/ Judith Brower

 Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Voit Real Estate Services Completes Three Office Sales Encompassing 35,000 SF in Greater Sacramento, CA

  

Sacramento, CA (MARCH 29, 2012) –Voit Real Estate Services’ Sacramento office has completed the sale of three office properties encompassing 34,579 square-feet for a total consideration of $3.5 million in the greater Sacramento area.

“We continue to see stable growth in Sacramento’s office market, and sales activity is increasing among smaller properties,” said Robb Osborne (middle right photo), Senior Vice President in Voit’s Sacramento office. “Prices are competitive, and buyers see the opportunity to obtain these smaller office properties, which are ideal for owner-users as well as investors in the market.”

The three transactions recently completed by Voit’s Sacramento Corporate Office Group, led by Senior Vice President, Robb Osborne include:

Transaction #1

Voit’s Sacramento office directed the $1.6 million sale of an 11,685 square-foot office building located at 1687 Eureka Road in Roseville, Calif.  Robb Osborne worked with Cole Sweatt (middle left photo), an Assistant Vice President in Voit’s Sacramento office, to represent the seller, Rori Property Holdings, LLC. The buyer, Infinite Solutions, Inc., was represented by David Brandenburger of Cornish & Carey.

Infinite Solutions, Inc., a company that provides information technology consulting, training, mentoring and development services, will use this property as its U.S. headquarters.  This property is centrally located within the Roseville business corridor on the corner of Eureka Road and Douglas Blvd.

Transaction #2

The Osborne team completed the $1.4 million acquisition of a 17,894 square-foot office/medical building located at 2368 Maritime Dr. in Elk Grove, Calif.  Voit represented the buyer, 990 Reserve Drive, LLC. The seller, Roseville Bank of Commerce, was represented by Doug Quiroz of Cemo Commercial.

The buyer acquired the two-story office/medical building as an investment, and plans to use Voit’s services to lease and/or sell the building.  

Transaction #3

Voit’s Robb Osborne and Cole Sweatt directed a 5,000 square-foot office sale located at 5174 Hillsdale Circle in El Dorado Hills, Calif (top left photo). for a total consideration of $500,000.  The Sacramento Corporate Office Group represented the seller, Lot 68 Partnership, a California General Partnership.  The buyer, Colorado Federal Bank, was represented by Clyde Rawlings and Toss Valentine of Grubb & Ellis.

Colorado Federal Bank plans to use this fully improved office property as a corporate office and branch location.

  Contact:

Jenn Quader/ Judith Brower

 Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Voit Real Estate Services Directs New 105,000-SF Industrial Lease in Riverside, CA

RIVERSIDE, CA (March 29, 2012) – Voit Real Estate Services’ Inland Empire office has directed a new five-year, 105,000 square-foot industrial lease in the Meridian Business Park (top left photo), on behalf of the lessor.

Voit was successful in securing a tenant within six months for this industrial property located at 14751 Meridian Parkway in Riverside, California, according to Patrick Wood (middle right photo), Senior Associate in Voit’s Inland Empire office.  

Wood worked with Walt Chenoweth, Frank Geraci, and Juan Gutierrez (lower left photo) of Voit’s Inland Empire office to represent the lessor, GE Capital Real Estate, a premier commercial real estate company with U.S. $60 billion in assets globally.

“The Voit team drew upon our knowledge of the region to successfully market the strategic location of this vacant space, and ultimately secured a tenant within six months,” said Wood.  “This was definitely a joint effort. GE Capital’s ability to spec tenant improvements in the building coupled with their understanding of current market dynamics helped make this a successful transaction.” 

 The lessee, Russell Sigler, Inc., is the sole distributor of Carrier products in the Western U.S. and is headquartered in Tolleson, Ariz. The company plans to use this location for its operations in Riverside. Russell Sigler, Inc. was represented by Herrick Johnson and Rocky Moran of Lee & Associates, Riverside in the transaction.

The property is one of three buildings the lessor owns in the Meridian Business Park, totaling 315,000 square feet. 

.

  Contact:

Jenn Quader/ Judith Brower

 Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Voit Directs Acquisition of 62,000-SF Multi-Tenant Industrial and Office Park for Orange County, CA-based Investment Company

Santa Ana, CA (March 29, 2012) – Voit Real Estate Services’ Irvine office has successfully completed the $4.7 million acquisition of Edinger Business Park (top left photo), a 61,923 square-foot multi-tenant industrial and office park in Santa Ana, Calif., on behalf of the buyer. 

 

The three-building property was 91 percent occupied when it was acquired, according to Dan Vittone (middle right photo), a Senior Vice President in Voit’s Irvine office.

Vittone worked with Alan Pekarcik (lower left photo), an Executive Vice President in Voit’s Irvine office, to represent the buyer, Frome Developments Omega, LLC (www.fromeinc.com) - a family-owned, Orange County-based investment company that owns 28 business parks throughout Southern California.

“This transaction is unique, as very few multi-tenant office/industrial parks in Orange County have traded in the past 18 months,” said Vittone.  “We knew that our client, Frome Developments, owned other properties within the Santa Ana submarket.  When we identified this stable, value-add opportunity, we brought it to our client and successfully directed the acquisition on their behalf.”

Edinger Business Park is located at 1560, 1570 and 1580 E. Edinger Avenue in Santa Ana, Calif.

  Contact:

Jenn Quader/ Judith Brower

 Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com