Monday, February 25, 2013

$65 million non-recourse construction loan arranged by HFF for Tysons Corner, VA office development



Dan McIntyre
WASHINGTON, D.C. – HFF announced today that it has arranged a $65.0 million non-recourse revolving construction loan for 7940 Jones Branch Drive, a 307,000-square-foot office development in Tysons Corner, Virginia. 

HFF worked exclusively on behalf of the borrower, a joint venture between MRP Realty and Rockpoint Group, L.L.C., to arrange the loan that was agented by EagleBank, with Burke & Herbert Bank acting as a participant bank in the transaction. 

Due for completion in 2014, the development is approximately 50 percent pre-sold to Logistics Management Institute (LMI), a private non-profit strategic consultancy organization founded in 1961.

This to-be-built, 11-story office building is located adjacent to the newly-completed Jones Branch connector road, and offers prime signage opportunities with frontage on both the Capital Beltway (I-495) and the Dulles Toll Road.

The HFF team representing the borrower was led by director Dan McIntyre.


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

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
krmurphy@hfflp.com

Posted by Alex at 10:32 AM 0 comments

HFF closes $18.4 million sale of Secaucus, NJ industrial facility


2 Emerson Lane, Secaucus, NJ
FLORHAM PARK, NJ – HFF announced today that it has closed the sale of 2 Emerson Lane, a two story, 283,215-square-foot industrial facility in Secaucus, New Jersey.

                HFF marketed the leasehold interest on behalf of the seller, Hartz Mountain Real Estate.  CoreSite Realty Corporation (NYSE: COR) purchased the leasehold interest in 2 Emerson Lane for $18.4 million. 

Michael Nachamkin
The facility at 2 Emerson Lane is located on a 10-acre site about 10 minutes from midtown Manhattan in the Meadowlands submarket of Secaucus, New Jersey. 

The property is close to the New Jersey Turnpike, Interstate 495, Newark Liberty Airport and Port Newark.  The two-story industrial property has office and showroom space plus a six-story, 634-space parking garage.  It was purchased vacant and will be converted to a data center.             

The HFF investment sales team representing the seller was led by managing director Michael Nachamkin.

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

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
krmurphy@hfflp.com

www.CoreSite.com.

Posted by Alex at 10:24 AM 0 comments

HFF selected to market for sale fee simple designer boutique hotel in Waikiki Beach area of Honolulu



Hotel Renew, Honolulu, Hawaii
SAN FRANCISCO, CA – HFF announced today that it has been selected to market for sale Hotel Renew, a 72-room, fully-renovated, designer boutique hotel in Honolulu, Hawaii.

                HFF is marketing the property on behalf of the seller, Z Tower, LLC.  The hotel is being offered fee simple and unencumbered of brand and management.

Holden Lim
Hotel Renew is located at 129 Paoakalani Avenue one-half block from the world-renowned Waikiki Beach. 

Originally built in 1967, the nine-story property was completely renovated in 2008, guided by the acclaimed designer, Jiun Ho, which totally transformed the property into a designer boutique hotel. 

William Stadler
Hotel amenities include Renew Lounge serving continental breakfast and evening cocktails, garage parking and on-site moped and surf board rentals.  Future plans for a rooftop lounge are being finalized.

                The HFF investment sales team representing Z Tower, LLC, is led by managing director Holden Lim, senior managing directors William Stadler and Dan Peek and managing director Scott Hall.
  
   For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
krmurphy@hfflp.com

Posted by Alex at 10:14 AM 0 comments

McCraney Property Company Named Developer of the Year by NAIOP Central Florida Chapter



Steven McCraney
 ORLANDO/WEST PALM BEACH – (February 25, 2013) – McCraney Property Company (MPC), an integrated developer and manager of commercial/industrial flex and warehouse distribution properties located throughout Florida, was named Developer of the Year by the NAIOP Central Florida Chapter at the recent Best of the Best Awards Gala. 

“We value the role NAIOP plays in providing great opportunities for commercial real estate professionals to connect for networking, advocacy and education,” said Steven E. McCraney, CCIM, SIOR, himself a former NAIOP chapter president.  “Being recognized by one’s peers is a great honor.”

Orlando Central Park
In 2012, with the economy beginning to turn around, McCraney Property secured a 10-year lease on a 150,000-square-foot, build-to-suit project in Orlando Central Park for Dade Paper Company, a large regional distributor of disposables, janitorial supplies and equipment.

 MPC also entered a joint venture agreement with Clarion Partners for Dade Paper and two additional spec buildings totaling more than 220,000 square feet.


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

Don Silver
 donsil@boardroompr.com

Teresa Shum
tshum@boardroompr.com
Boardroom Communications,
954-370-8999.
Posted by Alex at 10:06 AM 0 comments

Top-producing Downtown Los Angeles team joins Avison Young



Chris Cooper
LOS ANGELES, CA, Feb. 25, 2013 /PRNewswire/ - Chris Cooper, Avison Young Principal and Managing Director of the Southern California region, announced today the hiring of a nationally renowned team of industry-leading professionals to join the company's recently established office in Downtown Los Angeles.

Ted Simpson
Effective immediately, Ted Simpson, Jacob Bobek and Scott Steuber join Avison Young as Principals. Simpson also becomes Managing Director of the company's Downtown L.A. office and will focus on overseeing the operations of Avison Young's presence in the Downtown L.A. area, as well as servicing clients and growing the firm's Los Angeles business.

Also joining the Downtown L.A. office are Michael Ma as a Vice-President, Scott Donaghe and Jeff Vertun as Associates, and Edward Resetar as Marketing Coordinator.

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

Sherry Quan,
National Director of Communications & Media Relations,
Avison Young:
(604) 647-5098;
cell: (604) 726-0959

Posted by Alex at 9:59 AM 0 comments

Peachtree Hotel Group Names Brent LeBlanc Senior Vice President to Help Fuel Growth


  
Brent LeBlanc
 ATLANTA, GA., Feb. 25, 2013—Officials of Peachtree Hotel Group, one of the nation’s fastest growing hotel acquisition, management, development and ownership groups, today announced that industry veteran Brent LeBlanc has joined the company as  senior vice president.

 His primary responsibilities will focus on sourcing new acquisitions, developments and third-party management opportunities, as well as enhancing Peachtree’s brand relationships.

Greg Friedman
“Brent brings a wealth of knowledge and experience to our rapidly expanding team,” said Greg Friedman, Peachtree CEO.

  “In addition, our executive team members have had a close personal and working relationship for more than 15 years.  When we looked to increasing our platform, Brent was an obvious choice because we know he is a perfect cultural fit to our team. 

“He brings a dynamic to the table we did not have previously, and we are confident he will play a key role as Peachtree executes its expanded growth strategy.”

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

Chris Daly, media
 (703) 435-6293
chris@dalygray.com
www.peachtreehotelgroup.com
Posted by Alex at 9:39 AM 0 comments

North Carolina’s “Mansion on the Hill” Joins DoubleTree by Hilton

                                                                                                                                                           
DoubleTree by Hilton Raleigh-Durham
  Airport at Research Triangle Park. 
 Raleigh-Durham, NC — (Feb. 25, 2013) – DoubleTree by Hilton today announced the opening of the DoubleTree by Hilton Raleigh-Durham Airport at Research Triangle Park. 

Known locally as the “Mansion on the Hill,” the former Hilton hotel converts to Hilton Worldwide’s fastest-growing full service brand following a dramatic seven-month $8 million renovation that includes unique design enhancements to the exterior and interior public spaces, guest room makeovers, and the introduction of a new locally-driven restaurant concept.

 General Manager Henry Naber, who joined the hotel’s seasoned management staff this month, leads the transformation.  The hotel is owned and operated by Driftwood Hospitality.

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

Lauralee Dobbins
Daly Gray, Inc.
703-435-6293
Lauralee@dalygray.com                                                                                                                                                                                                      

 Maggie.Giddens@Hilton.com
+1 703 883 5346

Posted by Alex at 9:27 AM 0 comments
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