Marcus & Millichap Promotes Nine California Agents to Vice President Investments

   

Alex Kozakov  Patrick Wade Pasha Darvishian Sam Hanna

  

CALABASAS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted nine California agents to vice president investments.

This designation exemplifies superior performance achieved by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Kent R. Williams, senior vice president and managing director.

            The agents, their office locations and specialties are:

·         Alex Kozakov, Los Angeles, retail and net-leased (top  photo)

·         Patrick Wade, Los Angeles, retail and net-leased (top photo)

·         Pasha Darvishian, Newport Beach, office and industrial (top photo)

·         Sam Hanna, San Diego, office and industrial (top photo)

·         Tom McCartin, San Diego, multifamily (bottom photo)

·         Phil Sambazis, San Diego, retail and net-leased (bottom photo)

·         Clinton Textor, San Francisco, multifamily (bottom photo)

·         Christopher O. Hyldahl, West Los Angeles, seniors housing (bottom photo)

·         Priscilla Nee, West Los Angeles, multifamily (photo unavailable at this time)

                                Tom McCartin Phil Sambazis, Clinton Textor, Christopher Hyldahl

 Previously, Darvishian, Hanna, Sambazis, Textor, Hyldahl and Nee held the title associate vice president investments. Kozakov, Wade and McCartin were senior associates. 

 “With this promotion, these commercial real estate investment specialists have earned a prestigious designation within the firm and solidified their reputations as knowledgeable and successful investment professionals,” says Williams. “Their focus on providing superior client services has earned them a high degree of loyalty and respect from investors as well as from their peers.”

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

           

New Hyundai Dealership to Open in Lilburn, Ga.

  

 ATLANTA, GA – Bull Realty has brokered the lease of a 24,700-square-foot, 4.5-acre former Pontiac GMC dealership on Stone Mountain Highway in Lilburn, Ga. As a result, a new Hyundai dealership will open on the site in January 2013.

O’Brien Automotive Team, which owns 19 other dealerships across the country, leased the property from an affiliate of the Baranco Automotive Group.

Jared Daley (top right photo), vice president – corporate retail services for Bull Realty and an agent who specializes in the lease and sale of automotive-related properties, represented the landlord in the transaction. No other brokers were involved in the deal.

The property received a lot of interest from other car dealers, Daley reports.

“This area is coming back as a popular car sales market,” he said. “The former Chevrolet dealership across the street just opened as a new Toyota dealership.

“This new Hyundai dealership will have a modern look and feel to provide an inviting car-buying experience. We are excited about the potential of this dealership and the value it will bring to our client’s property.”

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

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Jared@BullRealty.com

Douglas A. Danny and Christopher J. Zorbas Promoted to First Vice Presidents Investments at Marcus & Millichap

SAN DIEGO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Douglas A. Danny (top right photo) and Christopher J.  Zorbas (middle left photo) to first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to John Vorsheck (lower right photo), regional manager of the San Diego office.

Most recently, Danny and Zorbas held the title of vice president investments. They are both located in the San Diego office.

Danny’s career with Marcus & Millichap began in November 1992 as a manufactured housing specialist. He was promoted to senior associate in June 1998 and vice president investments in January 2008.

Danny also holds the title of senior director of Marcus & Millichap’s National Manufactured Home Communities Group (NMHCG). Throughout his career Danny has received several internal sales awards, including seven coveted National Achievement Awards.

Zorbas began his career with the firm in May 2001 as a multifamily investment specialist. He was promoted to senior associate in June 2004 and vice president investments in January 2008.

Zorbas also holds the title of senior director of the firm’s National Multi Housing Group (NMHG). While with Marcus & Millichap, Zorbas has earned several internal sales awards including eight coveted National Achievement Awards.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Mark One Capital Arranges $7 Million Walgreens Loan in Aliso Viejo, CA

   

ALISO VIEJO, Calif., Aug. 16, 2012 – Mark One Capital, a subsidiary of Marcus & Millichap Capital Corporation (MMCC), has arranged $7.1 million in refinancing for a 13,386-square foot Walgreens drugstore built in 2009.

 Farhan Kabani (top right photo) a director in MMCC’s Dallas office, arranged the loan.

“This was a cash-out refinance, which is difficult to structure in many cases,” says Kabani. “We provided the clients with several debt options that allowed them to choose the loan that worked best and met their requirements.”

  

“Walgreens are attractive to lenders,” adds Kabani. “They are an investment-grade tenant, and the buildings that they occupy are typically multi-use space that can be converted easily.”

The loan was structured with a 10- year term and amortizes over 30 years with an interest rate of 4.5 percent. The LTV was 75 percent.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

New Penthouses at Canyon Ranch Living Miami Beach, FL Sell Out in Two Hours

  

MIAMI BEACH, FL– Canyon Ranch Living Miami Beach (top left photo) set a speed record for sales when it opened penthouse residences for sale this month. The eight luxury homes atop the upper and lower center tower went under contract in two hours, with total sales exceeding $7 million.

“Buyers were asking about the residences even before we offered them,” said Michael Sadov (lower right photo), Real Estate Sales Director at Canyon Ranch Living Miami Beach. “They placed their names on a waiting list. When we formally notified them, they quickly signed contracts, sometimes sight unseen.”

“One residence was so spectacular the price exceeded $1,000 per square foot,” Sadov explained.  “All of the buyers already owned homes at Canyon Ranch and were so enthused with the luxury lifestyle of healthy living that they couldn't wait to purchase again.”

Four of the one- and two-bedroom penthouses are directly on the ocean. Several have views that face south. Each of the finished residences has different layouts and kitchen designs.

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

Estee Pinzon

Digital Media Specialist

Boardroom Communications

(954) 370-8999

(954) 370-8892 Fax

epinzon@boardroompr.com

Julie Talenfeld

Boardroom Communications,

954-370-8999

jtalenfeld@boardroompr.com

for Canyon Ranch Living Miami Beach.

  

Marcus & Millichap Sells two-tenant retail property in heart of Biscyane retail corridor in North Miami, FL

NORTH MIAMI, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a two-tenant net-leased retail property located in North Miami, FL, according to Kirk A. Felici, First Vice President/Regional Manager of the firm’s Miami office.

The asset, which includes T-Mobile and Smoothie King as tenants, commanded a sales price of $3,250,000.

Drew A. Kristol (middle right photo) and Kirk D. Olson (lower left photo), Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company headquartered in Miami Beach.   

“This property received tremendous interest because it has little to no deferred maintenance, strong cash flow and minimal management responsibilities,” Kristol explained.

“The building is located on a square lot of almost an entire acre of commercial land in the heart of a dense retail section of Miami-Dade County. The Smoothie King space also benefits from a rare drive-through window on the north side of the property,”

The property was recently gut-renovated in 2010 for the two tenants, T-Mobile and Smoothie King. T-Mobile signed a new 7-year lease in 2011 and Smoothie King, backed by a multiple-unit franchisee, executed a 5-year lease.  It is located on the northeast signalized corner of Biscayne Boulevard and Northeast 126th Street at 12605 Biscayne Boulevard in North Miami.

Press Contact:

Ashley Steele

Fort Lauderdale Office

954-245-3400

New Waterfront Condo Tower Proposed For Fort Lauderdale Beach, FL Market

MIAMI, FL--A developer is proposing a new waterfront condo tower in Fort Lauderdale Beach in East Broward County, and in the process has boosted the total number of planned buildings to 57 since the South Florida real estate crash began in 2007, according to a new report from CondoVultures.com.

With the newly announced 11-story Grand Birch tower fronting the Intracoastal Waterway, nearly 9,400 condo residences have now been proposed for the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties as of Aug. 15, 2012, according to the Preconstruction Condo Projects list compiled by the licensed Florida brokerage CVR Realty™.

Some five years after the South Florida condo market began to stall, one new tower has already been completed in the tricounty region and 11 other high-rises are under construction as the post-crash development era gains momentum, according to a recent CondoVultures.com report.

"The Downtown Fort Lauderdale and Beach coastal market is increasingly on the radar of residential developers who are considering new condo projects in South Florida," said Peter Zalewski (top right photo) a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"Most of the proposed condo developments to date have been concentrated in the stretch from Greater Downtown Miami to South Beach to Sunny Isles Beach to Hollywood Beach.

This newly proposed project shows that developers are willing to start pushing north into Fort Lauderdale with new condo construction."

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

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.