Saturday, July 14, 2012

Canadian Investor Purchases Industrial Property in Scottsdale, AZ Airpark

 PHOENIX, AZ – Karp Sunbelt Properties, LLC, of Burnaby, British Columbia, Canada, purchased a 21,088-square-foot single tenant industrial building at 7879 East Beck Lane in Scottsdale, Arizona.

Paul Boyle, Rick Danis and Michael Kitlica with Cassidy Turley BRE Commercial, a leading commercial real estate services provider in the U.S., completed the $2 million ($94.84 psf) sale. The seller was Phoenix-based Arizona State Credit Union.

Built in 1997 the building is fully leased to Ridgeline Energy Services, a company which applies proprietary technology to treat water generated from industrial and commercial waste water markets,  headquartered in Calgary, Alberta, Canada and trades on the TSX Venture Exchange under the symbol "RLE" and the OTCQX as "RGDEF".

 Boyle and Danis, with Cassidy Turley BRE Commercial’s Capital Markets Group, and Kitlica with Cassidy Turley BRE Commercial’s Office Services Group, represented the seller. Aaron Carson with Carson Commercial, LLC represented the buyer.

 For more information visit or call 602.954.9000.

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

Alison A. Melnychenko
Vice President Marketing
2375 E. Camelback, St. #300, 
Phoenix, AZ  85016
T 602.224.4459
C 602.531.1468
F 602.468.8588

HFF arranges $27.5 million financing for Seattle area shopping center

 IRVINE, CA – HFF announced it has arranged a $27.5 million refinancing for Northgate North (top left photo), a 303,255-square-foot, multi-level shopping center in Seattle, Washington.

HFF worked on behalf of Retail Properties of America, Inc. (NYSE: RPAI) to secure the 15-year, fixed-rate loan through ING Investment Management, LLC out of Atlanta, Georgia.

“Northgate North is a core, strategic property in our retail portfolio.  It is located in a dense, infill area of Seattle with strong demographics and a well-diversified tenant lineup, led by Target,” said Angela Aman, executive vice president, chief financial officer and treasurer for RPAI.

Northgate North is located at 302 Northeast Northgate Way near Interstate 5.  The property is less than half of a mile from Northgate Mall.  The center is 99 percent leased to Best Buy, Ross Dress for Less, Petco and Sports Authority.

The HFF team representing the borrower was led by senior managing director Kevin Mackenzie (lower right photo) and managing director Tom Wilson.

Retail Properties of America, Inc. (NYSE: RPAI) is a fully integrated, self-administered and self-managed real estate investment trust that owns and operates high-quality, strategically located shopping centers across 35 states.  The company is one of the largest owners and operators of shopping centers in the United States.  Additional information about the company is available at


KEVIN C. MACKENZIE                             
HFF Senior Managing Director             
(949) 253-8800                                                       

THOMAS F. WILSON                      
HFF Managing Director            
(503) 224-0444                                               

HFF Associate, Marketing
(713) 852-3500

Faris Lee Investments Completes Record-Breaking $2.09 Million Sale of a Two-Tenant Retail Property in Billings, MT

IRVINE, CA, July 13, 2012 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $2.09 million sale of a two-tenant retail property occupied by Men’s Wearhouse and Qdoba Mexican Grill Restaurant.

 Built in 2010, the 7,000-square-foot property is situated on .77 acres and is located at 2350 King Avenue West in Billings, Montana. 

Jeff Conover (middle right photo), senior managing director of Faris Lee Investments, represented the seller, D&S Depierro Trust from Dana Point, Calif. The buyer, who paid all cash, was Sacramento, Calif.-based King Avenue Billings LLC and was represented by Ben Prater (lower left photo) of Colliers International.

“California has a large amount of private capital investors seeking out-of-state commercial real estate opportunities,” said Conover.

 “Faris Lee has extensive buyer contacts and a database of investors with this profile and we marketed heavily to that audience. Ultimately, we sold to a central California buyer. The sales price garnered the highest price per square foot of $299 for a multi-tenant retail property over the past two years.”   

Conover added that the property offered two strong national tenants with long-term, 10-year leases. The property fronts Costco and Shopko at the most dominant retail intersection in the state of Montana seeing more than 48,000 vehicles per day.

 The property is also across from Walmart Supercenter, Lowe’s, Best Buy, Home Depot, Toys “R” Us, Old Navy, PetsMart, Office Depot, and Michaels.


Darcie Giacchetto,
Spaulding Thompson & Associates
For Faris Lee Investments

Voit Real Estate Services Acquires Value-Add Business Park in Las Vegas Market

 Las Vegas, NV-- Voit Real Estate Services has just completed its first investment acquisition in more than five years, according to Robert D. Voit (middle right photo), CEO and Founder of Newport Beach, Calif.-based Voit Real Estate Services.   

The firm has acquired Cheyenne Technology Center (formerly called North Port Business Center),(top left photo) a 172,328 square-foot industrial business park in North Las Vegas, Nev., for $11.9 million from an institutional lender.

This transaction by Voit, a firm that has owned and developed more than 24 million square feet of commercial real estate valued in excess of $2 billion during its 40-year history, demonstrates confidence in the new opportunities arising from the most recent market cycle, according to Voit. 

“We have confidence in the Las Vegas market and we believe that the market has reached its bottom, creating the right timing for this acquisition,” noted Mr. Voit. 

Information on leasing the property is available from Garrett Toft at (702) 734-4503 or

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


Judith Brower or Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Lincoln Property Company Brokers Leases Totaling more than 144,300 SF in North Fulton, GA

 ATLANTA, GA (July 13, 2012) – Lincoln Property Company Southeast has brokered three leases totaling 144,357 square feet in Atlanta’s North Fulton office market.

 Michael Howell (lower right photo) and Hunter Henritze, both vice presidents of office leasing for Lincoln Property Company Southeast, represented the landlord, Equity Office, in thetransactions.

 The leases included the following deals:

• RedPrairie signed a direct lease for 80,314 square feet in Radiant II (top left photo), located at 3905 Brookside Parkway in Alpharetta, Ga. The tenant, who was represented by David Demarest of Jones Lang LaSalle, had been occupying the space on a sub-lease.

• Select Management Resources renewed its lease for 40,347-square-feet at Preston Ridge IV (middle right photo), located at 3440 Preston Ridge Road in Alpharetta, Ga. Brad Kuehn of Atlanta Office Realty represented the tenant.

• Athena Health expanded its offices at Northwinds Pointe, located at 2550 Northwinds Parkway (lower left photo) in Alpharetta, Ga., to a total of 23,696square feet. The company’s lease consists of a 16,163-square-foot renewal and a 7,533-square-foot expansion. Phil Barry of Avison Young represented the tenant.

Radiant II, Preston Ridge IV and Northwinds Pointe are part of a 1.9 million-square-foot portfolio of North Fulton buildings that Lincoln is leasing on behalf of Equity Office.

“We continue to be encouraged by the leasing momentum in the North Fulton office market.”  ,” Henritze said. “Year to date, we have signed over 300,000 square feet of renewals, expansions and new leases in North Fulton.

“Furthermore, occupancy in these properties has risen from the low-80-percent range to the high-80-percent range, and we are hopeful to have the vacancy rate in the single digits by year’s end.”

“The activity in our portfolio is indicative of the North Fulton market in general, which is experiencing an influx of new tenants to the market as well as a good deal of organic growth,” Howell added. “ The North Fulton market offers excellent amenities, a highly educated labor force andstrong demographics making it a highly desirable submarket for tenants.”

 In December 2011, Equity Office awarded Lincoln Property Company Southeast contracts to manage 3.3 million square feet and lease 1.9million square feet in suburban Atlanta. The management assignment covers buildings in the North Fulton and Northeast submarkets, and the leasing assignment is for buildings in North Fulton. Lincoln began servicing the contracts at the start of the year.


Stephen Ursery
Wilbert News Strategies
Office: (404) 965-5026
Cell: (404) 405-2354

McCraney Property Leases More Than 350,000 SFin Florida

WEST PALM BEACH, FL and ORLANDO, FL -- “As Florida’s economy continues to strengthen, we are seeing excellent opportunities for businesses to take advantage of record-low interest rates and very affordable rents,” said Steven McCraney (top right photo), founder and CEO of McCraney Property Company.  “Activity in all three of our geographic markets has increased significantly.”

McCraney Property Company also worked out a deal with Dade Paper on a 150,000 square-foot build-to-suit project on 23 acres at the Orlando Central Park project. This will be the largest industrial project in the past four years.

For more information on McCraney, call (561) 478-4300.

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

 Don Silver
Teresa Shum (
of Boardroom Communications, 954-370-8999

Intellectual Property Law Firm Espinso|Trueba PL Signs 4,400-SF Lease and Moves to 1428 Brickell Ave., Miami

Lawyers Will Trueba (left) and Jorge Espinosa

Miami, FL – Espinosa | Trueba, P.L., an intellectual property law firm that focuses on the litigation and prosecution of Trademarks and Patents, has relocated its Miami office to 1428 Brickell Avenue, Suite 100 in downtown Miami, signing a five-year 4,400 square foot lease with room for future growth.

“As we continue our expansion and approach the firm’s fifth anniversary, it is critical for us to be centrally located in downtown Miami’s thriving international business community,” said Jorge Espinosa, Founding member of Espinosa | Trueba, P.L.

 “The new office provides the firm with the space that it needs to satisfy its growth plans and provides its attorneys and staff with a pleasant work environment.” 

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

Brittany Nguyen
Becker Public Relations
2506 Ponce De Leon Blvd. 
Coral Gables, FL 33134
Telephone 305/444-2181 x221
Twitter: @BeckerPRFirm and @JeanneBecker
Facebook: Becker Public Relations and Jeanne Becker

Ted Knighton Appointed Interstate’s President and Chief Operating Officer

ARLINGTON, Va., July 9, 2012—Interstate Hotels & Resorts  announced the promotion of Samuel E. (Ted) Knighton (top right photo), formerly chief operating officer, to president and chief operating officer. 

Knighton oversees global operations of the company’s approximately 400 managed and owned hotels on three continents.  He has been with Interstate since 1990 and has held increasingly important positions with the company. 

“Since assuming the responsibilities of chief operating officer in December,  Ted has taken on an even more expansive role as we integrate operations and sales worldwide,” said Jim Abrahamson (lower left photo), Interstate’s chief executive officer.

“He has developed a strong team with incredible depth who are actively engaged in improving and expanding our global operations platform.  This promotion reflects his accomplishments and the tremendous value and exceptional operations experience that he brings to our international growth strategy.” 

Prior to his promotion to chief operating officer, Knighton was president of hotel operations for Interstate’s North American portfolio, the company’s largest region.  A 21-year veteran of Interstate, his career also includes senior roles with Radisson Hotels and Hyatt Hotels Corporation.  Knighton holds a degree in hotel administration from Cornell University.


Jerry Daly, Chris Daly                                    
Daly Gray                                                      
(703) 435-6293                                                                                           

Company that Assists with Construction Bids Launches its Online Business at the One-Year Anniversary Celebration of University of Central Florida Business Incubator in Daytona Beach, FL

 DAYTONA BEACH, FL(July 13, 2012) – Best3Bids, one of the clients of the University of Central Florida Business Incubation Program at the Daytona Beach International Airport, will launch its online business on July 27 during the one-year anniversary celebration.

 Founded in 2011 by Mike Bowen, Best3Bids – or B3B LLC – offers a convenient service to homeowners, business owners and others who need to get construction bids on a variety of projects.

 “Because the need to get three bids is the standard in most construction projects, as well as work that is covered by insurance companies, this service can save consumers both time and money,” Bowen said.

 By using the website at, Bowen said homeowners have access to contractors who can handle the improvements needed to maintain one of their biggest investments – their homes.

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

 Mike Bowen, owner, Best3Bids, 386-290-0107,
Doris “Connie” Bernal, site manager, UCF Business Incubator-Daytona Beach, 386-872-3101,
Gordon Hogan, director, UCF Business Incubation Program, 407-882-1157;
Charlene Hager-Van Dyke, Larry Vershel Communications, 386-532-8862 or 407-644-4142;

Marcus & Millichap Names David Luther Vice President in Houston; Promotes Steven D. Weinstock to Vice President in Oak Brook, IL Office

 HOUSTON, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has elected David Luther (top right photo) vice president, according to John J. Kerin, president and chief executive officer. In addition to his new title of vice president, Luther is also the national director of the firm’s National Hospitality Group (NHG).

“David brings extensive knowledge and experience to the position of vice president gained from his time as a successful sales agent and in his management roles with the firm,” says Kerin. “He will be a great resource for our clients and agents in Houston.”

In Oak Brook, IL, Marcus & Millichap has promoted Steven Weinstock (lower left photo) to vice president, according to John J. Kerin, president and chief executive officer. Weinstock currently serves as the regional manager of Marcus & Millichap’s Oak Brook, Ill. office, a position he will continue to hold.

 “Steven’s superior management skills, brokerage expertise and excellent knowledge of the investment sales market make him a tremendous asset to our clients and investment specialists in Oak Brook, Chicago and throughout the Midwest,” says Kerin.

For a complete copy of both news releases, please contact:

Stacey Corso
Public Relations Manager
(925) 953-1716