HFF closes sale of two office buildings in Houston’s Greenspoint submarket

 HOUSTON, TX – HFF announced  it has closed the sale of 333 North Sam Houston Parkway East (top left photo) and 10700 Interstate 45 North (middle right photo), multi-tenant office buildings totaling 395,424 square feet in Houston, Texas.

HFF marketed the properties exclusively on behalf of the seller. The Khoshbin Company purchased the assets for an undisclosed amount.

333 North Sam Houston Parkway East and 10700 Interstate 45 North are located within the Greenspoint submarket of Houston close to the George Bush Intercontinental Airport north of downtown Houston. 

333 North Sam Houston Parkway East is a 12-story, 213,777-square-foot building with a four-level, 704-space parking garage.

The property is currently 72 percent leased.   10700 Interstate 45 North has 181,647 square feet of space that is currently 47 percent leased.  The property features a five-level, 434-space parking garage.

The HFF investment sales team representing the seller was led by senior managing director Dan Miller (middle left photo) and director Martin Hogan (lower right photo).

"The very positive and improving real estate fundamentals in Houston present one of the best buying opportunities in decades,” said Manny Khoshbin, head of The Khoshbin Company.  

 The Khoshbin Company, headed by Manny Khoshbin, is a privately-held commercial real estate company based in Irvine, California that specializes in acquiring, managing and repositioning of Class A and Class B industrial, retail and office properties.

Contacts:

H. DAN MILLER, CCIM, SIOR                     

HFF Senior Managing Director                       

 (713) 852-3500

dmiller@hfflp.com                                               

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500  

krmurphy@hfflp.com                                                  

Western National Group Appoints Cyndy Breit as Senior Vice President

  

IRVINE, CA (April 19, 2012) – Western National Group (WNG), one of the West's premier multifamily real estate companies, has announced the promotion of Cyndy Breit (top right photo) to Senior Vice President, according to Laura Khouri (top left photo), President of Western National Property Management.

In her new role as Senior Vice President, Breit will lead the operation of several divisions within WNG, including Human Resources, Risk Management, Facilities, Customer Care and Investor Relations. 

“Over the past ten years, Cyndy has consistently demonstrated her dedication to Western National Group. 

"Utilizing a solution-driven approach, she has established a strong track record of success and industry expertise, making her an invaluable resource for the company,” said Khouri. “This promotion will allow Cyndy to bring fresh new programs and solutions to the departments she is now overseeing.”

 

Breit joined Western National Group in 2001 as an Environmental Health and Safety Manager and was then promoted to Vice President of Risk Management in 2007.  In this role, she was responsible for directing, developing and managing programs that identify, control, administer and transfer risk for Western National Group and its affiliated companies. 

According to Khouri, one of Breit’s greatest accomplishments to date has been the design and implementation of expanded and highly effective loss mitigation control programs for the company.

Breit earned a degree in Applied Ecology from the University of California, Irvine. She is an EPA Accredited Management Planner and Building Inspector for Asbestos, and is a Certified Safety Playground Inspector. 

 She is also a member of the Risk and Insurance Management Society (RIMS), American Society of Safety Engineers (ASSE), American Industrial Hygiene Association (AIHA) and National Recreation and Park Association (NRPA).

Contact:

Corynne Randel / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

CRandel@browermillercole.com

  www.wng.com

.

Arbor Appoints Joseph Donovan to Lead Expanded HUD/FHA Lending Group

 UNIONDALE, NY (April 19, 2012) – Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, announced today the appointment of Joseph Donovan (top right photo) to Senior Vice President, Director of FHA Lending, in Arbor’s Boston, MA, office.

Mr. Donovan will now oversee the expansion of Arbor’s targeted FHA Multifamily Lending business, which is strategically positioned to increase its origination volume through a dedicated commitment of financial and staffing resources in order to better serve Multifamily borrowers. Mr. Donovan reports to John Caulfield, (middle left photo) Chief Operating Officer.

Mr. Donovan’s specific scope of responsibilities includes oversight of the day-to-day operations of Arbor’s FHA loan production group, the expansion of Arbor’s FHA lending platform and the development of Arbor’s FHA origination and underwriting teams on a regional basis.

As an approved FHA Multifamily Accelerated Processing ("MAP")  Lender, Arbor’s FHA group provides borrowers access to all FHA-insured Multifamily and Healthcare loan programs on an expedited basis.  Arbor also provides Bridge loans that are underwritten to a permanent FHA loan take out.

“Arbor is making a significant commitment to expanding its dedicated FHA Group in response to an increase in borrower demand for FHA financing in the marketplace,” said Ivan Kaufman (lower right photo), Arbor’s Chairman and CEO.

 “Over the past several years, Joe has played a critical role in expanding Arbor’s FHA lending business.

"His extensive experience in the origination and management of Multifamily and Healthcare lending transactions through HUD’s mortgage insurance programs will undoubtedly help to further strengthen Arbor’s position as a premier FHA Lender, while expanding Arbor’s footprint in the seniors housing market and the growing market for green and affordable housing.”

 

Mr. Donovan previously held the title of Senior Vice President, Production Management. In that role, he was responsible for overseeing the day-to-day operations of Arbor’s Fannie Mae, FHA/Ginnie Mae and commercial mortgage-backed securities production unit.

 In addition, Mr. Donovan managed Arbor's initial evaluation, screening and analysis of all loan opportunities under the company’s agency product lines.

Mr. Donovan has 22 years of experience in the real estate finance industry. Since joining Arbor in 1993, he has held various underwriting and production management positions. Prior to Arbor, Mr. Donovan worked for the Federal Deposit Insurance Corporation (FDIC) and Commonwealth Mortgage Company.

Mr. Donovan earned his Bachelor of Arts degree from Canisius College. He has previously served as a board member of the National Multi-Housing Council.

Contact:  Christopher Ostrowski, costrowski@arbor.com

Stan Johnson Co. Completes Sale of Rasing Cane Building in Phoenix, AZ

PHOENIX, AZ. (APRIL 19, 2012) – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 3,500 square-foot retail building in Phoenix, Arizona to USAA. The building is 100% leased to Raising Cane.

Derek Layne (top right photo), Associate Director from Stan Johnson Company's Santa Monica office, represented the seller, Phoenix-based Evergreen, in the transaction. The buyer was represented by Capview Partners.

The property featured a 20-year original lease term which commenced in December 2011 and has four, five year renewal options remaining.  It is located directly off of Thomas Road which is approximately one mile from I-10 and approximately five miles north of the I-17.

 Several major retailers lie within a one mile radius of the property, including: Chipotle Mexican Grill, Target, Enterprise Rent-A-Car, Chase Bank, and Starbucks.

Contact:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Commercial Asset Partners Realty Closes $429,500 Sale of Former Car Wash Property in Sanford, FL

 SANFORD, FL (April 19, 2012) – Following the trend that business owners are taking advantage of a buyer’s market for commercial real estate, Commercial Asset Partners (CAP) Realty closed the $429,500 sale of a 6,240-square-foot former full-service car wash property (middle left photo) at 712 Lake Mary Boulevard in Sanford.

A new facility called Neat Car Wash and Detail Center plans to open at the property this spring and will create six to eight jobs.

Kim Lohry (top right photo), Commercial Associate at CAP Realty, represented the seller, Business Loan Center, LLC. Adolpho Pereira of Dover International Realty, Inc. represented the buyer, Kermali Enterprises, LLC.

 In preparation for its opening, Neat Car Wash and Detail Center significantly renovated the property, including repainting the facility, installing new car wash equipment, and redoing the lobby and four-bay detail center. The company will offer both exterior-only and full-service car wash/detail options.

 “Because the property’s specifications are so unique, the ideal buyer was one who would use it for its designed purpose, although we did have some interest from automotive services companies,” Lohry said.

“When Kermali Enterprises found the listing, the property went to contract and closing very quickly, because there’s more value in buying an existing facility versus building a full-service car wash.”

  Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

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www.cap-realty.com

IMED Health Products LLC Moves to Miramar Park of Commerce in MIramar, FL

 MIRAMAR, FL – IMED Health Products, LLC, a subsidiary of Imed Industries, a manufacturer and distributor of medical supplies, has relocated from Sunrise, Fla. to the Miramar Park of Commerce (top left photo).

IMED specializes in the wholesale distribution of diabetic supplies, and incontinence and advanced wound care products. In addition to the IMED line of products, the company also stocks a wide variety of named brand products.

 “The Miramar Park of Commerce is the ideal location for a distribution company due to the easy access to all major roadways including I-75, I-595 and I-95,” said Christopher McCall of IMED.

 IMED has leased 19,676 sq. ft. at 2705 North Commerce Parkway in the Park. 

 Over the last few years, the Miramar Park of Commerce has established a healthcare and biotech hub, attracting companies like IMED.

 “What these companies find at the Park is competitive rates, flexible space and a central location,” said Andrew Ansin (middle right photo), vice president of Sunbeam Properties, developer of the Miramar Park of Commerce.  “In 2011 in the Park, 60 percent of new tenants came from healthcare related companies.”

 Representing the Park in the transaction was Ryan Goggins (middle left photo) of Sunbeam Properties, developer of the Park, and Carlos Velasquez of Vivo Real Estate Group.  Representing IMED was Leyla Semenov of KW Commercial.

Contacts:

 Christopher McCall,

IMED Health Products, LLC,

2705 North Commercial Parkway,

 Miramar, FL 33025,

 (954) 903-9290.

IMEDIndustries.com

INDUSTRIES.COM.

Maridee Bell, Ryan Goggins or

Andrew Ansin

10212 USA Today Way,

Miramar, FL 33025

954-450-7900.

 Lindsey Marmorstein

Pierson Grant Public Relations

6301 NW 5th Way, Suite 2600

Fort Lauderdale, FL 33309

P:  954-776-1999, ext. 255

F: (954) 776-0290

E-mail: lmarmorstein@piersongrant.com

Berger Commercial Realty Corp. Closes Two Transactions in Opa Locka, FL for Wells Fargo

 FORT LAUDERDALE, FL -- Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced that broker Keith Graves (top right photo) closed three transactions in Miami-Dade County for Wells Fargo Bank.

 All three properties were being managed by Berger Special Assets, the receivership division of Berger Commercial Realty Corp.

Two industrial condo units, located at 12462-12466 N.W. 38th Ave. in Opa Locka, were sold to Confusio, LLC / LaChacha, LLC.

A 8,688-square-foot free-standing, multi-tenant industrial building, also located in Opa Locka at 13280 N.W. 43rd Ave., was sold to Kobol, LLC.

A free-standing 4,302-square-foot former restaurant building, located at 19705 S. Dixie Highway in Cutler Bay, was sold to Truly Nolan Exterminating, Inc.

"Activity in South Florida’s commercial real estate market is starting to pick up," said Graves. "Bank-owned office and industrial properties such as these, especially when offered at valuable prices, present attractive opportunities to local and foreign buyers."

 Contact: 

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

 www.bergercommercial.com

Essex Realty Group Brokers Sale Of Residential Condominium Building in Chicago, IL

CHICAGO, IL,  April 19, 2012 - Essex Realty Group, Inc. is pleased to announce the sale of 6161 N. Kenmore (top left photo), an 8 unit apartment building located in Chicago’s Edgewater neighborhood.

The newer construction building has condominium quality finishes and consists of six 3 bedroom/2 bath units which are approximately 1,250 square feet.  The other two units have 3 bedrooms/2.5 baths, and are approximately 2,180 square feet.

Doug Imber (middle right photo) and Doug Fisher (lower left photo) of Essex were the brokers in the transaction.  The price was approximately $1,500,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

 If you would like more information, please call Doug Imber at 773.305.4902 or e-mail him at dougimber@essexrealtygroup.com.

 Essex Realty Group, Inc.

2211 N. Elston Avenue, Suite 302

Chicago, Illinois 60614

773.305.4900

www.essexrealtygroup.com

$1.2 Million Luxury Estate on Treasure Island Road in Leesburg, FL now Listed for sale at $499,000

ORLANDO, FL --- Stirling Sotheby’s International Realty in Orlando is marketing a $1.2 million Leesburg estate for sale at an asking price of only $499,000.

“Definitely a bargain,” says Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, who added that the five-acre estate home, which overlooks Lake Griffin at 7952 Treasure Island Rd., was first offered for sale at $1.2 million.

Stirling Sotheby’s International Luxury Home Specialist Lynn Edwards (top right photo), who listed the estate home for sale, said the artist inspired and designed home offers such unique features as a floor-to-ceiling stone gas fireplace in the living room and master bedroom, walk-out sliding glass doors from the living room to a second level master suite with a large screened balcony that has its own hot tub overlooking the lake. 

The eat-in kitchen with luxury appliances including a gas stove, oversized refrigerator and wine bar, boasts a cast pewter and granite island that was designed and built by the artist who inspired the home.

The luxury home also offers a room that doubles as a breakfast nook and an1,800 square foot art studio that connects to the main house by a screened and covered breezeway. Private guest quarters in the home include a private bath.  

To view a video of the property go to http://tours.vht.com/Viewer/Video.aspx?ListingID=50690502&Style=SIR .

For more information, contact:

Roger Soderstrom, Owner/Founder Stirling Commercial Group,

407-588-1260;

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