Cousins Properties Announces Sale of Avenue Murfreesboro in Metro Nashville, TN

  

The Avenue Murfreesboro shopping center, 27 miles south of downtown Nashville, TN

ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the sale of The Avenue Murfreesboro for $163 million.

The project, a 752,000-square-foot open-air retail center in suburban Nashville, Tennessee, was owned through a 50/50 joint venture between Cousins and Faison Enterprises.

Cousins’ portion of the net proceeds is approximately $36 million. These funds will be used to partially fund its pending $1.1 billion Texas office portfolio acquisition, currently scheduled to close in mid-September.

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA primarily invests in Class-A office towers located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

 Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments.

For more information, please visit www.cousinsproperties.com

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Faison Enterprises, Inc. is a privately-held real estate company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services.

With more than 40 years in the business and holdings of approximately $750,000,000, the Charlotte NC based company manages and develops properties throughout the South and Mid-Atlantic.

 For more information, visit www.faison.com.

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

Cousins Properties Inc.

Cameron Golden, 404-407-1984

Vice President of Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com

cousinsproperties.com

HFF closes $33.05 million sale of 434-unit multi-housing community in Denver, CO

The Artisan, 10025 East Girard Avenue, Denver, CO

DENVER, CO – HFF announced today that it has closed the sale of The Artisan, a 434-unit, garden-style multi-housing community in Denver, Colorado.

Jordan Robbins

            HFF marketed the property on behalf of Prime Residential.  Peak Capital Partners purchased the asset for $33.05 million contingent to existing debt. 

The Artisan is 98 percent occupied and consists of 63 percent townhome-style units, as well as one-, two- and three-bedroom flat-style units averaging 901 square feet each. 

Community amenities include a fitness center, two heated swimming pools, sport court, business center, two clubhouses and covered parking.  The Artisan is located at 10025 East Girard Avenue within walking distance of two light rail stations and less than 10 minutes from the Denver Technology Center and Southeast Business Corridor.

Denver Technology Center

               The HFF team representing the seller was led by director Jordan Robbins and senior real estate analyst Jake Young.

Prime Residential is one of the largest owners of high-quality, multifamily rental communities in the Western United States. 

 The firm has achieved success by creating value through disciplined acquisitions, sensible capital structures, appropriate reinvestment and superior management.  Prime Residential’s current portfolio contains approximately 20,000 units.

Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, Peak Capital Partners owns 30 apartment communities in eight states.  Today, the firm has an asset portfolio valued in excess of $400 million.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF marketing for sale California Plaza in the San Francisco Bay Area

California Plaza, 2121 North California Boulevard, Walnut Creek, CA

SAN FRANCISCO, CA – HFF announced today that it has been selected to market the sale of California Plaza, a 378,696-square-foot, Class A office building in Walnut Creek, California.

Steve Golubchik

HFF is marketing the property on behalf of an institutional investor, for an undisclosed price free and clear of debt.

The 10-story building is located at 2121 North California Boulevard adjacent to the Walnut Creek BART station and visible from Interstate 680 due to the distinct architecture and elevated stature of the property.

 Completed in 1985, the building has been institutionally maintained and features state-of-the-art building systems and a three-story subterranean parking garage. 

Michael Leggett

Situated on approximately 2.07 acres, the building is 89 percent leased to a variety of tenants including Blue Cross, Mass Mutual, Sutter Health, Principal Global Investors, Mutual of Omaha and New York Life Insurance.

The HFF investment sales team representing the seller is led by managing director Steven Golubchik, senior managing director Michael Leggett and director John Simerlein.

John Simerlein

“With market rents significantly increasing in Silicon Valley and San Francisco, the North Interstate 680 Corridor is beginning to capture a growing number of tenants migrating into the submarket,” commented Golubchik..

“Walnut Creek is one of the few markets in the Bay Area that provides the combination of a strong institutional ownership base, a stable and increasing tenant base and one of the highest barriers to entry. 

“Additionally, the market rarely sees institutional investors trade assets, which makes this a rare opportunity for prospective buyers to plant a flag in the submarket,”

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Lincoln Brokers United Acceptance’s 21,663-SF Renewal and Expansion at 2400 Lake Park Drive in Metro Atlanta

  

2400 Lake Park Drive, Smyrna, GA

ATLANTA, GA (Aug. 14, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered United Acceptance’s renewal and expansion of its lease at 2400 Lake Park Drive in Smyrna, Ga.

Michael Howell

United Acceptance, which services car loans, expanded its space by 2,221 square feet and now occupies 21,663 square feet in the building.

Michael Howell, vice president of office leasing for Lincoln, and Jeff Henson, a senior associate in the firm’s Office Leasing Group, represented the landlord, OA Development, in the transaction. John O'Neill, senior managing director at Cushman & Wakefield, represented the tenant.

Jeff Henson

“Coupled with some other recent transactions at the building, this renewal brings 2400 Lake Park Drive to nearly 80 percent leased thanks to alittle bit of luck and a lot of hard work,” said Michael Howell, vice president of office leasing for Lincoln.

“With the help of improving market fundamentals and some planned capital improvements at the building, we expect to have the asset stabilized sooner rather than later.”

John O'Neill

The 104,457-square-foot 2400 Lake Park Drive is near interstates 75 and 285 as well as the numerous restaurants, hotels and banks located in the Cumberland Mall area. The property features an on-site conference room, a common-area break room and attractive landscaping.

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Please note new office number: (404) 549-7150

Cell: (404) 405-2354

www.thewilbertgroup.com

www.lpcsoutheast.com

http://blog.lpcsoutheast.com.

Jameson Commercial Finalizes 15-year lease with Children’s Learning Place in Chicago, IL

                      

Rendering of 3532 North Halsted Street, Lakeview neighborhood, Chicago, IL

CHICAGO, IL, Aug. 14, 2013 – Jameson Commercial, LLC today announced that the firm has finalized a commercial lease with the Children’s Learning Place for 12,260 square feet of first-floor space at 3532 N. Halsted Street.

Chris Irwin

The 15-year lease, valued at more than $4.8 million, will deliver essential services for families living in Chicago’s thriving Lakeview neighborhood.

 Children’s Learning Place provides early childhood and preschool education for families in its existing locations in Wicker Park, Logan Square and downtown Chicago.

This new Lakeview facility, which is slated to open in mid-2014 after a planned remodeling project estimated at more than $1.5 million, will accommodate approximately 140 children. 

Chris Irwin, senior vice president of Retail Sales & Leasing at Jameson Commercial represented the landlord, and Noah O’Neill of RN Realty represented Children’s Learning Place.

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

Julie Liedtke

 jliedtke@taylorjohnson.com,

312-267-4521

Kim Manning

 kmanning@taylorjohnson.com

312-267-4527

childrenslearningplace.com.

 jamesoncommercial.com.

Plaza at Eagles Landing in Stockbridge, GA Sells for $1.9 Million

  

Plaza at Eagles Landing, 1058 Eagles Landing Parkway, Stockbridge, GA

  

ATLANTA, GA (Aug.14, 2013)—Franklin Street Real Estate Services announces the sale of Plaza at Eagles Landing, an 18,000-square-foot retail strip center in Stockbridge, Ga., for $1,900,000 at $105.55 per square foot.

Mac McCall

 The seller, an investment company out of Atlanta, was exclusively represented by Mac McCall, Regional Managing Partner of Franklin Street Real Estate Services. The buyer is a private investor out of Spain with local representation and knowledge of the area and the property.

 “Using Franklin Street’s national database of over 35,000 investors and brokers, we were able to uncover an out-of-market buyer,” McCall said.

 “The buyer saw long-term value in the property at a price that most local investors deem as extremely bullish. Our platform continues to gain market share as we aggressively push pricing on all retail assets – especially single-tenant and smaller retail properties that are highly sought after by private investors.”

 The buyer plans to continue to operate the center with retail and office tenants while also attempting to lease up the remaining vacancies.

 Plaza at Eagles Landing is located at 1058 Eagles Landing Parkway in Stockbridge. The center includes five tenants: Starbucks, Randstad, Preston’s Salon, Minky Bling, and Sarah’s Country Kitchen.

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

Kelsy Pazur

813-839-7300, ext. 337

Kelsy.Pazur@FranklinSt.com

www.FranklinSt.com.

Central Florida Office Market Sees Positive Absorption Return with Strong Activity from South Orlando

  

  

ORLANDO, FL, Aug. 14, 2013 -- The second quarter of 2013 saw a substantial turn around in leasing activity in the Orlando Office Market, according to CBRE Capital Markets’ monthly newsletter.

Following two consecutive quarters of negative absorption, during which time a total of nearly 406,000 SF were returned to the market, Orlando reversed the trend this quarter by absorbing 244,000 SF.

Year-to-date positive absorption is still fairly modest – only 93,000 SF – compared to the first six months of 2012, in which 462,000 SF were occupied.

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

Ron Rogg

ron.rogg@cbre.com

Berger Commercial Realty Brokers Close Eight Leases at Oakland Commerce Center in Oakland Park, FL

Judy Dolan

FORT LAUDERDALE, FL (Aug. 14, 2013) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced brokers Judy Dolan, Keith Graves and Greg Milopoulos closed four new leases and four lease renewals of flex/office space at the Oakland Commerce Center in Oakland Park.

Dolan, Graves and Milopoulos represented landlord Oakland Center Associates, LTD in news leases of:

Keith Graves

1,098 square feet in suite  403 at 3317 N.W. 10th Terrace to Little Steps Rehabilitation Clinic, Inc.;

1,360 square feet in suite 1103 at 3409 N. Powerline Road to Powermellon LLC;

1,956 square feet in suite 605 at 3223 N.W. 10th Terrace to VEI Development, Inc.;

and 2,520 square feet in suite 601 at 3223 N.W. 10th Terrace to Sunshine Legal Copy Service, Inc., doing business as Alternative Legal.

The three brokers also represented Oakland Center Associates, LTD in the lease renewals of:

Greg Milopoulos

830 square feet in suite 803 at 3403 N. Powerline Road to E-Notaries.net Association, Inc.;

1,063 square feet in suite 1201 at 3405 NW 9th Avenue to Claire Cubbin, Esq.;

1,396 square feet in suite 103 at 3115 N.W. 10th Terrace to Florida Capital Bank;

and 3,244 square feet in suite 602/603 at 3223 N.W. 10th Terrace to Deliver The Dream, Inc.

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

Marielle Sologuren

msologuren@piersongrant.com

(954) 776-1999, ext. 226