Monday, July 30, 2012

Voit Real Estate Services Directs Three Transactions in Phoenix, AZ Totaling $5.85 Million

  Phoenix, AZ (July 30, 2012) – Voit Real Estate Services’ Phoenix office has directed three transactions encompassing 17 acres and 35,283 square feet in the Phoenix market for a total consideration of $5.85 million.

“We are beginning to see a gradual increase in pricing for both office and retail properties in the Phoenix market,” said Darren Tappen (top right photo), a Senior Vice President in Voit’s Phoenix office. “This trend is driving buyers to act quickly to make deals, which is good news for property owners who are ready to dispose of assets.”

 For a complete copy of the oompany’s news release and full details of the transactions, please contact:

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

Post Properties Announces Second Quarter 2012 Earnings

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced today net income available to common shareholders of $20.2 million, or $0.37 per diluted share, for the second quarter of 2012, compared to net income of $8.8 million, or $0.17 per diluted share, for the second quarter of 2011.

Net income available to common shareholders for the six months ended June 30, 2012, was $41.0 million, or $0.76 per diluted share, compared to net income of $8.4 million, or $0.17 per diluted share, for the six months ended June 30, 2011.

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

Post Properties, Inc.
Chris Papa (top right photo)

Atlanta Property Group Acquires 1190 West Druid Hills


 ATLANTA, GA (July 30, 2012) – Atlanta Property Group, a locally based real estate investment firm, said today it has closed on its acquisition of 1190 West Druid Hills Drive (top left photo), an office building in the Druid Chase Office Park.

The four-story building at 1190 West Druid Hills Drive at I-85 and North Druid Hills Road comprises 80,249 square feet. The property is adjacent the office building at 2801 Buford Highway, which Atlanta Property Group acquired in 2011.

APG’s newest asset, 1190 West Druid Hills Drive offers great access to I-85 and is proximate to Buckhead and Midtown.

Over the next year, Atlanta Property Group will invest $125,000 to renovate the building’s common areas and attract new tenants.

 APG will compete aggressively for tenants and has ample capital available for tenant improvements and leasing commissions.

Atlanta Property Group acquired 1190 West Druid Hills Drive from Duke Realty. Terms of the transaction were not disclosed.

APG has tapped Austin Chase and Kirven Brantley of Lavista Associates to market and lease 1190 West Druid Hills Drive. They can be reached at 770-448-6400.

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

Tony Wilbert                                          
Wilbert News Strategies
404-965-5022 (O)
 404-405-3656 (C)

PCCP Provides $30 Million Senior Loan to Refinance 14-Story Class A Office Building in Atlanta, GA


 New York, NY,  July 30, 2012 - PCCP, LLC announced today it has provided a $30 million senior loan to refinance a 93 percent leased, Class A, 272,650-square-foot office building located at 5660 New Northside (top left photo) in Atlanta’s Cumberland / Galleria submarket.

 PCCP’s loan is being utilized by an equity consortium led by Banyan Street Capital to refinance existing debt on the asset. 

“The property was initially purchased by the equity consortium as part of a southeastern U.S. office portfolio acquisition,” said John Randall (middle right photo), senior vice president with PCCP, LLC.

“At that time the property was 67 percent occupied. The ownership leased up the building to nearly full occupancy today, showing its strength and experience in the local market despite challenging economic conditions.”

Built in 1989, the property is a 14-story Class A office building situated on a 6.22-acre site. In addition to surface parking, the property is serviced by a four‐level parking deck, adjacent to the building with capacity for 929 vehicles.

“The ownership plans to evaluate several opportunities to extend and renew some leases as well as work with several tenants who have expressed a desire to potentially expand their space,” said Barrie Bloom (lower left photo), vice president with PCCP, LLC.

 “The potential to add more value to the property by strengthening the rent roll is great as the combination of an ideal location, quality of the building, and its management are all in place for short- and long-term success for the office tower.”

The property is located alongside I‐285, where over 200,000 vehicles see it on a daily basis.  Additionally, the property’s location on I‐285 / New Northside Drive provides outstanding access to I‐285, I‐75, GA 400 and the surrounding surface streets, which all offer visibility of the building.


Darcie Giacchetto
Spaulding Thompson & Associates

Berger Commercial Realty Announces New Sale in Riviera Beach, FL

FORT LAUDERDALE, Fla. (July 30, 2012) – Commercial real estate broker Judy Dolan of Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, closed the sale of a multi-tenant industrial building located in Riviera Beach, Fla.

Located at 4910 Dyer Blvd.  (top left photo), the 22,634 square-foot property sold for $785,000 to Real Expo LLC. Dolan represented the seller Dawn-G, LLC/Bayview Loan Servicing.


Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Carter and Chance Partners Announce $39 Million Student Housing Project at University of Mississippi


 ATLANTA, GA (July 30, 2012) – Carter, a leading development, investment and advisory services firm, and Chance Partners, a fully integrated, award-winning real estate firm, today announce plans to develop The Highlands, a $39-million student housing community at the University of Mississippi in Oxford, Miss.

Carter will serve as master developer of the new mixed-use development, which will provide approximately 750 beds for Ole Miss students by July 2013. This is the first joint-venture project between the two Atlanta-based development companies.

Carter Senior Vice President, Andy Feinour (lower right photo), believes Oxford is an ideal market forthis new prototype.

  “Based on current and projected record-setting enrollment numbers at Ole Miss, existing market demand, aging inventory, and Oxford’s strong rental and occupancy rates, now is the perfect time -- and Oxford is the perfect market to introduce this unique student housing concept,” Feinour says.

 “Students in Oxford and many other university markets across the country want a high-quality, amenity-rich place to live, and we’ll deliver that better than it’s ever been done before.”

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

Tony Wilbert
Wilbert News Strategies
404-965-5022/ 404-405-3656

Interstate Hotels & Resorts and Waramaug Hospitality LLC Complete Major Renovation and Conversion of Tampa, FL Hotel

 ARLINGTON, VA and TAMPA, FL, July 30, 2012 – Interstate Hotels & Resorts, the largest U.S.-based global hotel management company, today announced the completion of a $9 million comprehensive renovation of the former Crowne Plaza hotel and conversion to the Sheraton Tampa East Hotel (banquet room top left photo).

 The hotel was acquired last fall by a joint venture between Interstate Hotels & Resorts, Waramaug Hospitality LLC, and a private investment group.

 Interstate operates the Sheraton Tampa East Hotel under a long-term management agreement.  Waramaug Hospitality Asset Management LLC provided project and asset management for the renovation and conversion to the Sheraton brand.

“We have a great team that was able to renovate all areas of the hotel in a very short period of time,” said Jay Litt (lower right photo), asset manager for Waramaug Hospitality Asset Management LLC.

 “We wanted the conversion to be completed in time for the Republican National Convention this summer, and our team was able to finish the work with time to spare.” 

For hotel reservations, please visit or call (813) 623-6363.

For more information, visit

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

Chris Daly, Jerry Daly
Daly Gray, Inc.

Jones Lang LaSalle Increases Prominence in Orange County, CA with 360 Commercial Partners Merger

IRVINE, CA — Jones Lang LaSalle (NYSE: JLL)  announced it has merged operations with 360 Commercial Partners, one of Orange County, California’s leading real estate services firms.

The combined firm will have a commanding presence in Orange County, with greatly enhanced strength and depth of service that will enable the firm to more fully deliver strategic, integrated services and solutions for real estate owners, occupiers and investors.   

The merger of Jones Lang LaSalle and 360 Commercial Partners was driven by client demand for broader and deeper services, as well as the anticipated growth of Orange County,” said Peter Belisle (top right photo), Southwest Market Director, Jones Lang LaSalle.

 “This is a mutually beneficial merger for 360 Commercial Partners and Jones Lang LaSalle, as well as for our clients, who will now have access to a broader platform and local market expertise from a firm that is the clear leader in capturing real value from real estate.”

For more news, videos and research resources on Jones Lang LaSalle, please visit our U.S. media center Web page. 

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

David Ebeling
Ebeling Communications
949.278.7851 (Cell)

Colliers International Completes $2.2 Million Sale of 21,700-SF Industrial Building in Simi Valley, CA

Simi Valley, CA – Colliers International, the third largest global real estate services organization, has completed the sale of a 21,700-square-foot industrial property located at 2255 Agate Court (top left photo)in Simi Valley.  The transaction is valued at approximately $2.1 million.

John DeGrinis (middle right photo), SIOR, senior executive vice president, Patrick DuRoss (lower left photo), associate vice president, and Jeff Abraham, senior associate all based in Colliers International’s Encino office represented the buyer, California Lasers, Inc.  Grant Harris, John Ochoa and Grant Fulkerson of Lee & Associates represented the seller.

California Lasers provides sub-contract laser welding, cutting, drilling, electron beam welding and leak testing services to the rapidly growing medical, aerospace and semiconductor industries. 

“California Laser is increasing its footprint significantly,” DuRoss explained. “ We are pleased to see a manufacturer doing so well and growing within the same region they’ve flourished in for many years.”

The building was constructed in 1985.  The property offers building features including 22-foot minimum clearance, 1000 amps of power, HVAC throughout the building and a fenced yard area.   


Darcie Giacchetto
Spaulding Thompson & Associates

Voit Real Estate Services Directs $7 Million Orange County, CA Industrial Acquisition for Aerospace Company

 Orange County, CA – Mitch Zehner (top right photo) and  Seth Davenport (middle left photo) of Voit Real Estate Services’ Anaheim office have successfully directed the $7.25 million acquisition of an 82,544 square-foot industrial building situated on 4.56 acres in Anaheim, Calif. on behalf of the buyer.

 The building, previously occupied by a hardwood distribution company, will be fully occupied by the buyer, a North Orange County-based Aerospace Shop, according to Zehner, an Executive Vice President in Voit’s Anaheim office.

Zehner and Davenport represented BT La Palma as the buyer in the transaction. This is a relocation for BT La Palma, as the firm is moving its business from a neighboring city in North Orange County, according to Zehner.

“Our client was seeking a large industrial building in Anaheim with ample yard space to accommodate its aerospace business,” explained Zehner. “As industrial inventory continues to tighten in Anaheim, properties with these specifications are becoming rare commodities.”

Zehner noted that because the Voit team is constantly tracking the OC industrial market, they were able to quickly identify and secure this facility, which met their client’s operational and location needs.

The seller, Dunham & Gilliland LLC, was represented by Clyde Stauff of Colliers International.

 This free-standing building is located at 4890 E. La Palma Avenue (bottom right photo) in Anaheim, Calif. with major street visibility on La Palma Avenue, according to Zehner.


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

RCG Ventures Sells South Georgia Shopping Center for $4.4 Million

 ATLANTA, GA-- Cassidy Turley, a leading commercial real estate services provider in the U.S., has brokered RCG Ventures’ $4.4 million sale of Cordele Corners (top left photo), a 120,868-square-foot shopping center in Cordele, Ga.  The buyer was a Florida-based private equity group.

 Mark Joines (lower right photo) and Drew Fleming, both vice presidents in the Brokerage Services division of Cassidy Turley’s Atlanta office, represented RCG Ventures in the transaction, while the buyer represented itself.

Built in 1986, Cordele Corners is a former Walmart located near I-75whose anchor tenants include Tractor Supply, Bealls and Dollar Tree. Its occupancy rate is currently 70 percent.

 “Cordele Corners is a strong asset with outstanding anchor tenants and plenty of upside potential,” Joines said. “This transaction was a good one for both buyer and seller and one in which Cassidy Turley was able to deliver significant value to our client.”

 Public Relations Contact

 Tony Wilbert
Wilbert News Strategies

Agree Realty Announces Goodyear Acquisition in Fort Mill, SC

FARMINGTON HILLS, MI /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) announced it has acquired an auto service store in Fort Mill, South Carolina leased to Goodyear Tire & Rubber Company.

  The store is an outlot to a Harris Teeter anchored shopping center located at South Carolina Highway 160 and State Highway 22.  The cost of the acquisition was approximately $2,400,000.

"We are extremely pleased to add this Goodyear Tire store to our expanding portfolio," said Joey Agree (lower right photo), President and Chief Operating Officer.  "This acquisition complements our existing automotive service assets and continues our diversification strategy among industry leading net lease retailers."

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

 Alan Maximiuk,
Chief Financial Officer,