Taylor & Mathis Picks Up Coral Gables Leasing Assignment--198,000 Square Foot Douglas Centre

Douglas Centre, 2600 Douglas Road, Coral Gables, FL

Miami, FL  -   Demeetree Real Estate Services, Inc., a private investment group out of Orlando, has selected the Miami office of Taylor & Mathis of Florida as exclusive leasing agent for Douglas Centre, a 198,000 square foot office building in Coral Gables.

John O'Neil

 T&M Managing Director of Leasing John O’Neil will spearhead leasing efforts for the building which is currently 74% occupied.

 “We wanted a strong regional firm with extensive local ties to the South Florida market to help us quickly increase building occupancy,” stated Demeetree Managing General Partner Mike Wright.  O’Neil, a broker in the market for over 25 years, has completed 31 deals totaling over 150,000 square feet in the past year.

“Douglas Centre is one of the best office values in Coral Gables,” according to O’Neil.  It is well located with its proximity to Miami International Airport and downtown Miami, while also being convenient to executive housing. 

“The exclusive retail amenities and shopping along Coral Gables’ fabled Miracle Mile are within walking distance.

Mike Wright

“Coral Gables is considered one of the premium office markets in South Florida with approximately 18 million square feet of prime office space and is home to the regional headquarters of more than 140 multinational companies.  

The 12-story office building at 2600 Douglas Road has an attached 8-story parking garage with visitor parking, an on-site café and Bank of America retail branch.

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

John O’Neil

joneil@taylormathis.com

(305)789-6521

www.TaylorMathis.com

www.taylormathisflorida.com

Sheraton Memphis Downtown Hotel Hosts “Sweet” Grand Opening Celebration

  

Sheraton Memphis Downtown, 250 North Main Street, Memphis, TN

MEMPHIS, TN —The Sheraton Memphis Downtown in Tennessee hosted a unique grand opening ceremony to commemorate their conversion to the Sheraton brand. 

Legendary Beale Street Entertainment District
Birthplace of the Blues

During the event, one lucky attendee was selected to win a Sheraton Sweet Sleeper bed.

 The Honorable A.C. Wharton, mayor of Memphis; Ernest Strickland, director of economic development – Greater Memphis, Chamber of Commerce; Charles Satkewich, vice president of asset management for Host Hotels & Resorts, Inc.; Hoyt Harper, global brand leader, Sheraton Hotels & Resorts; and John Belden, president & CEO of Davidson Hotels & Resorts, attended the event.

 Owned by Host Hotels & Resorts, the hotel is operated by Davidson Hotels & Resorts.

John Belden

“As Memphis’ newest, Sheraton-branded hotel, we are well positioned to meet the demanding needs of today’s business and leisure travelers,” said Matt Huss general manager.

 “To commemorate this special day in the hotel’s history, we wanted to share with our guests the best example of what it means to stay at our hotel—the beauty of a perfect night’s sleep.  What better way to do that than to give away one of our Sheraton Sweet Sleeper beds?” 

Located at 250 North Main Street and connected to the 300,000 square foot Memphis-Cook Convention Center, the 19-story hotel is situated in the heart of downtown Memphis, just minutes from the world famous Beale Street entertainment district, considered by many to be the birthplace of the Blues.

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

Cyndi Norwood                                                                                 

Davidson Hotels & Resorts                                                               

(678) 349-0909                                                                                 

cnorwood@davidsonhotels.com

Chris Daly

(media)

Daly Gray

Public Relations

 (703) 435-6293

chris@dalygray.com

Colliers International South Florida Issues Second-Quarter Review in Tri-County Area

  

Rendering of planned Brickell CityCentre condos in Downtown Miami, FL

MIAMI, FL – Colliers International South Florida has issued its second quarter real estate review for Miami-Dade, Broward and Palm Beach counties. The review highlights the office, industrial and retail markets in the tri-county area.

Donna Abood

The review was coordinated by co-founding partners and co-chairmen Donna Abood and Michael T. Fay and chief executive officer Stephen Nostrand, 

In a prologue to the review, the company’s executives note:

“It wasn’t too long ago when we all complained about how slow and bad things were in the market. Developers, bankers, investors and yes, even brokers were looking ahead with discomfort about how they were going to last another day. But look at us now!

Michael T. Fay

 “There are over 30 residential towers under construction of the 150 planned projects across tri-county South Florida. Investment sales volume is up

+25% from this time last year. Consumer confidence across the state is up

above 80 for the first time since the summer of 2007 (for those who are

counting that’s six years ago).

“New CMBS offerings are up a whopping +240% from this time last year and, if you couldn’t already tell, real estate remains the reigning champ for delivering long-term investment returns (2.5% better annually than the next asset class).

Stephen Nostrand

“The market went from chasing its tail, to chasing any deal to where we are

now, chasing the next deal. Aside from the “all is well” response from the

sales community, the leasing market is telling a similar story.

“The pendulum has swung for virtually every product type across every major submarket. Many landlords are no longer shoring up their assets like they’re trying to weather the next great storm. Rental rates are seeing year-over-year growth and concessions are getting less generous, if available at all. Developers are putting shovels in the ground again for speculative product.

Harbourside Place, Jupiter, FL

Case in point Jupiter’s Harbourside Place, the +780,000 SF mixed use waterfront project or Brickell CitiCentre, the $1.05B, 4.6 million square foot, seven tower project in the heart of Downtown Brickell.

What has some worried is that interest rates and capital markets in general still have a big question mark. 

The 10-year treasury has jumped more than

a full percentage point since the start of the year on inflation and capital supply fears. This has some players in the market predicting this will pump the breaks on our recent growth. Still, there continues to be more dollars chasing too few deals.

“We find ourselves in an interesting position at the close of the second quarter of 2013. We’ve survived one of the worst collapses of the real estate (and overall market) and have started to get a reminder of what the “good times” were like. We look ahead with optimism that the rest of 2013 will be recorded as a banner year, positioning to springboard into 2014 with equal success"

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

For further information please contact:    

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Marcus & Millichap Capital Corp. Arranges $8.4 Million Refinance for Charter School in Springville, UT

  

Charter School, Springville, UT

Colton Smith

SPRINGVILLE, Utah, Sept. 19, 2013 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $8.4 million of debt for a 49,928-square-foot charter school.

            Colton Smith, an associate director in MMCC’s Salt Lake City office, arranged the loan. 

            “We recently closed a loan for another charter school in the same market at very favorable rates and terms,” says Smith. “I contacted one of my clients to inform him of that closing and he decided to increase his net cash flow by reducing the annual debt service on a similar asset,” adds Smith.

“The knowledge we gained during the first charter school financing gave our client an edge in the next transaction.”

            The five-year loan amortizes over 25 years at 4.1 percent, with 70 percent loan-to-va

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

Gina Relva

 Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716

RealtyTrac and RentRange Release List of Top 25 Hidden Gem Single Family Rental Markets in U.S

   

IRVINE, CA and WESTMINSTER, CO. – Sept.19, 2013 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, and RentRange (www.RentRange.com), the nation’s leading provider of residential Rental Market Intelligence™ to the financial services and real estate industries, today released a list of the Top 25 Hidden Gem Single Family Rental Markets nationwide based on gross rental yield, the expected return on investment before accounting for taxes, maintenance fees and other costs.

  

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

  

Ginny Walker

Public Relations Supervisor

Office: 949.502.8300 ext. 268

Mobile: 323-317-5852  

ginny.walker@realtytrac.com

        

$25.7 Million Apartment Complex Sale in Harrisburg, PA Brokered by Marcus & Millichap

Ivy Ridge Apartments, 589 Yale Street, Harrisburg, PA

HARRISBURG, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Ivy Ridge Apartments, a 218-unit, newly constructed, garden-style apartment complex in Harrisburg, Pa.

Zachary Pierce

The $25,705,000 sales price equates to $117,913 per unit, which represents a new price per unit high in the Harrisburg market this year. 

            Zachary Pierce and Mark Thomson, directors of Marcus & Millichap’s National Multi Housing Group in Philadelphia, represented the seller, a local investor/developer. The buyer, also procured by Pierce and Thomson, is a large operator of multifamily assets based in Northern New Jersey. 

            “The marketing process for this asset went very quickly due to the demand for quality assets and the increased returns that can be achieved in a secondary market,” says Pierce. 

Mark Thomson

“We have sold approximately one dozen properties representing more than 1,000 units in Central Pennsylvania markets over the past few years.

“The sale of Ivy Ridge is evidence that large private investor groups and institutions are willing today to move beyond primary markets into secondary markets in order to purchase quality assets with higher yields,” adds Pierce

“Two of the top three interested parties in this transaction were New York-based institutional investment groups.

“ In previous years, institutional investors would typically forego opportunities in the Harrisburg market, but with pricing in core markets like Philadelphia, New York and Washington, D.C. reaching 2007 levels, it has become necessary for buyers to expand their horizons,” Pierce continues. “Secondary markets with strong economic fundamentals like Harrisburg, which can offer investors a cash-on-cash return 100 to 200 basis points better than real estate in core markets, are attractive again.”

            Constructed earlier this year on 12 acres, the property is located at 589 Yale St. in Harrisburg, Swatara Township. The complex is a half-mile from the Harrisburg Mall and two miles from downtown Harrisburg. Interstates 283 and 322 and the Pennsylvania Turnpike are also nearby.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Related Midwest & Lend Lease Charity Golf Classic Raises $300,000 for Children’s Charities

                       

From left: Tim McCormick, CEO of SOS Children’s Villages, Illinois; Bert Brandt, vice president, project management and construction, Lend Lease; tenor Jim Cornelison; Don Biernacki, senior vice president of construction, Related Midwest; Jeff Arfsten, COO, project management and construction, Lend Lease; Micah Materre, anchor for WGN-TV; and Megan Van Pelt, president of the national board for The Children’s Heart Foundation. 

Jim Cornelison

CHICAGO, IL – The Related Midwest & Lend Lease Annual Charity Golf Classic began with a bang when tenor Jim Cornelison, known for his rendition of The Star-Spangled Banner at Chicago Blackhawks games, surprised golfers with the singing of the national anthem at the start of the tournament.

But the true high note of the September 18 event was the announcement that the popular golf outing raised more than $300,000, which will go directly to two charitable beneficiaries: SOS Children’s Villages, Illinois, and The Children’s Heart Foundation.

 This was the tenth annual outing hosted by Related Midwest and Lend Lease, which takes place each year at Harborside International Golf Course and has raised more than $1.8 million for various children’s charities since its inaugural year.

Donald Biernacki

The event regularly draws participants from the real estate and construction industries, and this year was also attended by special guest Micah Materre, news anchor for WGN-TV.

  “When I think back to our first outing 10 years ago, it’s extremely gratifying to see how much the event has grown and how much passion our participants continue to show for supporting great organizations like SOS Children’s Villages and The Children’s Heart Foundation,” said Don Biernacki, senior vice president of construction for Related Midwest.

“Year after year, the amount we’ve raised for our charitable partners has grown, and we’re thrilled that this year’s total is the highest yet – more than a $60,000 increase from last year.”

Micah Materre

The outing regularly draws more than 300 participants including contractors and developers as well as architects, banks and lenders, mortgage companies, attorneys and others.

  

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

Sarah Lyons

 slyons@taylorjohnson.com

 (312) 267-4520

Kim Manning

kmanning@taylorjohnson.com

 (312) 267-4527       

 www.RelatedMidwest.com

 www.sosillinois.org.

www.childrensheartfoundation.org.

www.lendlease.com

Florida Housing Finance Corporation Board Unanimously Approves Transfer of the Development Rights of Sailboat Bend Apartments in Fort Lauderdale, FL to Atlantic | Pacific Communities

  

Sailboat Bend Apartments, 425 Southwest Fourth Avenue, Fort Lauderdale, FL

  

MIAMI, FL – In continuation of Atlantic | Pacific Companies’ (A | P Companies) growth and acquisition of the Affordable Housing Division of Carlisle Development Group and subsequent to the Miami-Dade County Commissions approval, the Florida Housing Finance Corporation Board has unanimously approved the transfer of the development rights of Sailboat Bend Apartments in Fort Lauderdale, Florida to A | P Companies subsidiary Atlantic | Pacific Communities (A | P Communities).

Tam English

Sailboat Bend Apartments, located at 425 SW 4 Avenue, is a 7-story building with 105 existing units.

Rehabilitation of the 40 year old property will fully modernize the building while enhancing its water and energy efficiency and providing new elevators for the elderly residents.

 New cabinetry will be built and installed by the Housing Authority’s Step Up Apprenticeship program, which provides education, training, and employment skills to low income youth.   

 Tam English, Executive Director of the Housing Authority of the City of Fort Lauderdale states, “In the last 7 years our approach to affordable housing has progressed tremendously in Fort Lauderdale. At Sailboat Bend, we’re looking forward to continuing to upgrade our housing stock with the help of the A | P Communities expertise and experienced team.”

Based in Miami, Florida, Atlantic | Pacific (A | P) is a fourth generation real estate company, with more than 650 employees, over 23,000 units under management and a footprint that includes Florida, California, Texas, Georgia and the Carolinas.

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

Jessica Wade Pfeffer | Jessica Wade Inc.

Tel: +1 305.804.8424 | jessica@jessicawadeinc.com

Berger Commercial Realty Broker Steve Hyatt Negotiates AutoNation's $14.75 Million Purchase of Dealership Property in Denver, CO Area

  

8252 South Broadway, Littleton, CO

Fort Lauderdale, FL and Littleton, CO - Berger Commercial Realty broker Steve Hyatt recently represented BD & D Investment Company, LLC in the $14.75 million sale of a 15.85-acre auto dealership property, located at 8252 South Broadway in Littleton, Colo., to AutoNation, which had been previously leasing the property.

Steve Hyatt

 This is the third transaction Hyatt completed for dealership group BD & D Investment Company, which hired him to handle the disposition of several automotive properties across the country.

 In 2012, he closed the $8.425 million sale of a 4.2-acre property in Bellevue, Wash., including a 34,000-square-foot automobile dealership leased to AutoNation, and in 2011, he closed the $6 million sale of a 7.2-acre automotive dealership site in the Denver area to CarMax Auto Superstores.

 Hyatt specializes in automotive real estate. He currently represents several of the largest dealership groups in South Florida, including  brands such as Audi, BMW, Chevrolet, Toyota and Chrysler/Jeep/Dodge. He is active in investment sales and continues to work with and meet the real estate needs of numerous automotive retailers and automobile manufacturers across the country.

Prior to his role as Senior Vice President at Berger Commercial Realty, Hyatt served as Vice President of Corporate  Development at AutoNation from 1996 through 2008, where he was responsible for the acquisition and/or disposition of more than 175 automobile dealerships in 17 states.

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

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

Lincoln Brokers Two Long-Term Office Leases in Metro Orlando’s Altamonte Springs Submarket

  

Premier Point South office park, Altamonte Springs, FL

Robert Kellogg

ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered two long-term office leases totaling more than 8,500 square feet in the metro Orlando suburb of Altamonte Springs. Robert Kellogg, vice president of office leasing for Lincoln, represented the landlords in both transactions.

 The details of the transaction are as follows:

• Carestream Medical LLC, represented by CRESA Orlando, leased 4,556 square feet at Northlake Business Park.

Northlake Business Park
Altamonte Springs, FL

Northlake Business Park is a 270,000-square-foot, campus-style office park at 774 South Northlake Boulevard. It is near Interstate 4 as well as numerous restaurants and hotels.

• Web Solutions, represented by Acquisitions Consultants, leased 4,118 square feet at Premier Point South.

The three-story Premier Point South is part of a two-building office complex that totals 95,403 square feet. The complex also is close to Interstate 4, as well as Florida Hospital, Altamonte Mall and many restaurants.

Scott Stahley

“The office market in Altamonte Springs has proven to be a sluggish one, but Robert and the team in our Orlando office have done an outstanding job of finding the right tenants for our landlord clients there, ensuring that these clients continue to enjoy reliable income streams from their assets,” said Scott Stahley, senior vice president for Lincoln who manages the Orlando office.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

Celebration Golf Management hires top management at Eagle Creek Golf Course

Eagle Creek Golf Course, Orlando, FL

Edward Whalley

ORLANDO, FL--- Celebration Golf Management, which owns and/or operates seven golf courses in the Central Florida region, recently named a new general manager at Eagle Creek Golf Course and a new superintendent.

Kenny Nairn, chief operating officer for Celebration Golf Management said Edward Whalley was recently named general manager at Eagle Creek.

Jeff Clark

Whalley who has more than 25 years of experience in the golf and hospitality industries, was formerly a director of operations for Kitson & Partners Clubs where he oversaw the day-to-day operations and sales management of multiple golf course properties in the Orlando, Jacksonville, and New Jersey markets.

Kenny Nairn

At the same time, Nairn said Jeff Clark was named Eagle Creek’s golf course superintendent.  Clark earned his turf grass degree at Valencia State College and has 30 years of experience in the golfing industry. 

  He formerly was the golf course superintendent at Frenchman’s Creek Country Club in Palm Beach Gardens.

.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142 

lvershelco@aol.com

NAI Realvest Appoints Veteran Orlando, FL Realtor Jeff Clark Associate, Industrial Specialist

Jeff Clark

ORLANDO, FL -- NAI Realvest one of central Florida’s largest commercial real estate services companies and active developers of industrial facilities,  has named veteran Orlando Realtor Jeff Clark as an associate and industrial properties specialist.

Robin L. Webb, CCIM, managing director at NAI Realvest, said Clark has ranked as the top performing real estate associate in the Baldwin Park area of Orlando since 2003.  He was also formerly a broker with Prudential Mortgage Services.

Robin L. Webb

In his new role Clark will focus on representing industrial clients for leasing and sales.

 “Jeff Clark is one of the most knowledgeable real estate brokers in the Central Florida region and we expect him to play a big role as we grow,” Webb said.

Clark earned his B.A. Degree in Business Administration from Auburn University and is a member of the National Association of Realtors.

.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142 

lvershelco@aol.com

NAI Realvest Negotiates sale of three-acre development site for small office buildings in Winter Springs, FL

Paul Partyka

WINTER SPRINGS, Fla. --- NAI Realvest recently negotiated the sale of 3.10 acres of vacant land on the southeast corner of SR 434 and Winding Hollow Blvd. in Winter Springs.

Paul P. Partyka, managing partner at NAI Realvest, negotiated the transaction representing the seller, Wintersprings Land LTD based in Maitland.  

 The buyer, Altamonte Springs-based Florida Trust Administration LLC, paid $210,000 for the land and plans to build Phase 2 of several small stand-alone office buildings for users and investors.  

Gary Medley of Florida Trust Services represented the buyer in the transaction.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142