Marcus & Millichap Announces Sale of Palm Breeze Apartments in Tampa, FL for $1.275 Million

TAMPA, FL, June 18, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Palm Breeze Apartments (top left photo), a 63-unit multifamily property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The sales price of $1,275,000 equates to $20,238.10 per unit and $22.49 per square foot.

Michael P. Regan (middle right photo), a vice president investments and Francesco P. Carriera (lower left photo), associate vice president investment in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.

  The buyer, a private investor, was also exclusively secured and represented by Regan and. Carriera.

 Palm Breeze Apartments is located at 8014 Tommy Court, Tampa, Florida.  Built in 1985, the complex consists of 16 two-story buildings housing four units per building. 

The buildings are of wood frame construction with pitched shingle roofs and are situated on a 3.74 acre parcel of land.  Amenities include a laundry facility, stackable washer and dryer connections and ample parking. 

Press Contact:  Richard D. Matricaria, Regional Manager, Tampa

(813) 387-4700

Loews Completes Acquisition of Renaissance Hotel & Spa in Hollywood, CA; Converts to Loews Brand

 HOLLYWOOD, CA and NEW YORK, NYJune 18, 2012 — Loews Hotels & Resorts today announced that the company has completed the acquisition of the 632-room former Renaissance Hotel & Spa in Hollywood, Calif. from CIM Group.  The hotel has been rebranded the Loews Hollywood Hotel.   Terms were not disclosed. 

 The hotel will undergo an estimated $26 million renovation which will be completed in the summer of 2013.  The renovation will be completed in phases to minimize guest disruptions.  Loews Hotels & Resorts will oversee the renovation and operate the hotel.  

  “This acquisition represents the start of our program to double the size of our branded hotel portfolio over the next three to five years,” said Paul Whetsell (middle right photo), president and CEO. 

 “Our primary focus is to continue expanding our portfolio into major North American gateway cities, such as Boston, Chicago, San Francisco, Washington, D.C., New York, Dallas, Toronto and Seattle, as well as select destination resorts.”

Located in the heart of Hollywood, the hotel anchors the connecting mixed-use Hollywood & Highland Center (lower right photo), a 460,000-square-foot, five-story structure featuring more than 80 specialty retail outlets. 

 For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: www.loewshotels.com. 

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Contact:

Loews Hotels                                                 Daly Gray Public Relations

Lark-Marie Anton                                            Jerry Daly, Chris Daly

(212) 521-2779                                               (703) 435-6293

lanton@loewshotels.com                               jerry@dalygray.com                                            

 Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553

 chris@dalygray.com 

Gaedeke Redefining Northbridge Centre's Interior Spaces

 WEST PALM BEACH, FL – Inspired by the city's glistening sand-and-sea backdrop, Gaedeke Group LLC is in the middle of a $2.5 million redressing of its downtown landmark, Northbridge Centre (top left photo), blending in spec suites with breathtaking views of the Intracoastal Waterway and newly renovated interior common areas.

Interior updates include stylish wall coverings and brushed nickel fixtures to lighten the spaces. The timing was right to introduce spec suites to the 288,233-sf Northbridge Centre at 515 N. Flagler Dr.

 "We thought we would get some offices ready for the marketplace for tenants to occupy immediately," says Kirk Fetter (middle left photo), Vice President of Leasing in Florida for Dallas-based Gaedeke Group. "We're just trying to capture market share with more modern and new finishes to appeal to prospective tenants in the marketplace."

Gaedeke is improving a 1,733-sf spec suite on the Tower's eighth floor, with a northern view of the Intracoastal Waterway (lower right photo), and a 2,356-sf spec suite, expandable to 3,545 sf, on the seventh floor, featuring a water view from the south.

Technological upgrades are being made in conference rooms on the third floor of the 21-story high rise and first floor of the four-story pavilion – wireless connectivity, display equipment, drop-down screens and new telephone systems.

Overall, the common areas of the Tower and pavilion are being updated have undergone a  dramatic cosmetic overhaul.

The improvements are coinciding with Fetter's aggressive search to find a single tenant for the pavilion with the opportunity of signage privileges for the 35,496-sf pavilion vacancy.

Gaedeke's $2.5 million package includes the under-construction 5,715-sf fitness center, representing $500,000 of the total allocation (which is to debut in September 2012) as well as the recent $1.5 million upgrade of the elevators' mechanical systems and cabs.

As the work progresses, Gaedeke anticipates LEED Certification for Existing Buildings' from the U.S. Green Building Council and a BOMA 360 designation for excellence in property management to go along with Northbridge Centre's Energy Star label, first earned in 2008.

Contact:  Kirk Fetter, 561-515-7407

Fast-Growing Technology Company eMason Completes Deal to Move into 40,647-SF Office Space in St. Petersburg, FL

ST. PETERSBURG, FL. (June 18, 2012) – Taking steps to accommodate its rapid growth, eMason has signed a long-term lease for 40,647 square feet of space in the Roosevelt Technology Center (top left photo).

The company, which helps improve clients’ efficiencies by automating business processes, has added 100 jobs in the past 12 months.

Jim Parker (middle right photo), CCIM, of Colliers International Tampa Bay represented eMason in the transaction, while Mike Talmadge (middle left photo) of Echelon Real  Estate Services represented the landlord, Pointe 16th Court St. Pete, LLC.

Planning to move into the new facility in July, eMason was attracted to the space by its location, easy access on one floor, and quality technology features.

“We have employees who drive to our office from Pasco, Hillsborough and Manatee counties,” said Jane Mason (lower right photo), President and CEO of eMason, “so this mid-Pinellas location was important to us. Also, having contiguous space on one floor is very convenient, and the facility has high-quality backup generators, a must for a company like ours.”

The company has grown quickly and now has 175 employees. Growing solely from word of mouth and referrals, eMason helps a wide range of companies that want to simplify their business processes and save money.

“It was very satisfying to help find eMason such a perfect space for them in the exact part of town where they wanted to be,” said Colliers’ Parker. “As they are all about increasing efficiencies, we are pleased that this new office will help them make their own operation even more efficient.”

The new office will be located at 11399 16th Court N in St. Petersburg.

 Contact:

Kyle Parks

Bayview Public Relations

(727) 895-4030, #101 (office)

(813) 352-1325 (cell)

Kyle@bayviewpr.com