Hold-Thyssen Real Estate Services appoints Theresa Margaris Transaction Specialist

Theresa Margaris

Tampa, FL and Winter Park, FL --- Hold-Thyssen Real Estate Services, a commercial property firm based in Winter Park with offices in Tampa and Nashville, recently appointed Theresa Margaris a transaction specialist.

R. Anthony Fisher, vice president of Hold-Thyssen Real Estate Services, said Margaris earned her B.S. Degree in Business Administration from Southern Illinois University and has more than 12 years of commercial real estate experience.

Margaris will be responsible for commercial property transactions in the Tampa Bay region, Fisher said.

Hold-Thyssen provides commercial property and leasing and management services to institutional and private investor clients nationwide.   The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

For more information about this press release, contact:  

Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 407-691-0505, afisher@HoldThyssen.com

 Robert P. Hold, Principal, Hold-Thyssen, Inc. 407-691-0505, bhold@HoldThyssen.com

 Larry Vershel or Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 Lvershelco@aol.com

SVN Crossroads Management Awarded 154,800 s.f. Property Management Contract in Illinois

                    

Kristen Helma

Schaumburg, IL (Feb.  24, 2014) – Schaumburg-based SVN Crossroads Management, LLC has been awarded the property management contract of a 101,500-square-foot multi-tenanted retail center known as Barrington Square and a 53,300-square-foot office building known as Blackberry Falls in Hoffman Estates, Ill.

 “We are making a full-court-press to increase our market share in 2014,” says Kirsten Helma, chief operating officer for SVN Crossroads, who joined the company late last summer.

 “Owners should expect more from their management firms and SVN Crossroads has the in-house expertise and platform to deliver uniquely superior guidance and service.

“Property management should not just be a service. It is a true partnership and we structure our management agreements so they are completely aligned with our clients.”

Blackberry Falls, Hoffman Estates ,IL

Barrington Square and Blackberry Falls are owned by Caruso Development, which previously self-managed the properties.

Situated in high-traffic areas in Chicago’s northwest suburbs, the buildings offer superb locations for retail and office tenants. Current tenants at Barrington Square include America’s Bar and Grill, GiGi’s Playhouse, and Poplar Creek Bowl. 

 “I chose to work with SVN Crossroads because we have similar goals when dealing with tenants and the public,” said Joe Caruso, owner of Caruso Development.  “Their platform and style were the closest to our own and how we’ve been managing for 35 years.”

Office Leasing Activity Picks Up

 In other activity, the development arm of SVN Crossroads Management, Crossroads Development Partners, reports steady leasing in its suburban office holdings.

Barrington Square Town Center
Hoffman Estates, IL

 At 6400 Shafer Court in Rosemont, Ill., Land and Lakes Company leased 3,183 square feet for a 66-month term. The landlord was represented by Dan O’Neill and Jack Reardon of NAI Hiffman, while Mike Fortuna of Newmark Grubb Knight Frank represented the tenant.

 International Housewares Association expanded by 1,704 square feet, with Zachary Fox and Joe Stevens of Transwestern representing the landlord and Greg Raus of Jones Lang LaSalle representing the tenant. 

Fox and Stevens also represented the landlords in a 24-month lease renewal of 3,526 square feet for FiveCubits, Inc.

At 1300 Woodfield Road, Schaumburg, Ill., Mark Smith and Bill Saviski of CBRE represented the landlord in a, 4,555-square-foot renewal and expansion for Advanced Resources, LLC.

“These long-term leases speak to the quality and desirability of these excellently managed and well-located properties,” said Lee Kotler, principal of Crossroads Development Partners. “We look forward to working with these tenants as they continue to grow their operations.”

Lee Kotler

SVN Crossroads Management is an award-winning full service real estate management firm, providing property management, asset management, construction management and consulting services on a variety of commercial real estate assets throughout the Chicagoland area and in selected markets nationwide.

 Currently, the portfolio of assets under management is over 2 million square feet.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

http://www.svncrossroads.com/

http://www.xrdevelopment.com

Charles Dunn Company Selected to Market Retail Space for Lease at Historic Dunbar Hotel in Downtown Los Angeles, CA

Dunba Hotel, 4219--4225 South Central Avenue, Downtown Los Angeles, CA

Mark Takeichi

 LOS ANGELES, CA, Feb.  24, 2014 – Tracy Taft and Mark Takeichi of Charles Dunn Company have been tapped to lease 2,400 square feet of retail space at the historic Dunbar Hotel in Downtown Los Angeles on behalf of the property ownership, Dunbar Village L.P.

The property is located at 4219-4225 S. Central Avenue at the northwest corner of Central and E. 42nd Place.

Situated in the heart of what is known as the Central Avenue Corridor which includes other cultural landmarks such as the Historic 28th Street YMCA, The Dunbar Hotel is in the heart of an area currently undergoing a significant amount of revitalization.

In 2011, Dunbar Village L.P., a partnership that includes Thomas Safran & Associates, the nonprofit Coalition for Responsible Community Development, and the city's Housing Authority and Community Redevelopment Agency, was formed and purchased the property for a major renovation.

Tracy Taft

The project included transforming the three existing buildings which included the Dunbar Hotel, Somerville I and Somerville II, into one cohesive, activated, mixed-use, intergenerational community called Dunbar Village.

Preserving Dunbar Hotel’s historic brick facade, grand entry and lobby, the new design provides 41 residential units of affordable housing for seniors with amenities that include a community room, communal kitchen, media lounge, billiard table, library area and fitness room.

“A winning combination of targeted public and private investments, that include millions of dollars in infrastructure upgrades, $500,000 for facade improvements, and a new $24 million retail development opening this spring, have launched a real transformation of Central Avenue,” said Councilman Curren Price.

“This historic commercial corridor is on the rise and would be a fantastic investment for any business owner.”

“With the rehab completed over last summer, Dunbar Village residences now fully occupied. That combined with the overall growth of the Central Avenue Corridor, this retail space is an idea opportunity for a tenant to become part of a new chapter in this historic and beloved landmark property,” states Taft.

Curren D. Price Jr. 

Takeichi added that for the right tenant, the landlord is willing to provide a favorable tenant improvement package.

“Ideally we believe a restaurant category tenant would work the best in the space. 

"A jazz lounge, chef-driven dining, sit down restaurant or café, or destination restaurant, with a New Orleans, Cajun, or Southern menu and feel would make a great fit, however, we are open to other concepts that will serve local residents and visitors. 

Originally built in 1928, designated as a city Historic-Cultural Landmark in 1974, and placed on the National Register of Historic Places two years later, the Dunbar Hotel was the focal point of the Central Avenue African-American community in Los Angeles during the 1930s and 1940s.

It was originally known as the Hotel Somerville and renamed later as the Dunbar Hotel. 

In the early 1930s, a nightclub opened at the Dunbar, and it became the center of the Central Avenue jazz scene in the 1930s and 1940s.

Lena Horne

The Dunbar hosted Duke Ellington, Cab Calloway, Billie Holiday, Louis Armstrong, Lionel Hampton, Count Basie, Lena Horne, and many other jazz legends. 

Other noteworthy people who stayed at the Dunbar include W. E. B. Du Bois, Joe Louis, Ray Charles, and Thurgood Marshall.

Dunbar Village is also the focal point for the Central Avenue Jazz Festival that is held every year in the last weekend of July. The festival has more than 10,000 attendees.

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

www.charlesdunn.com

Jose A. Hernandez-Solaun is Named President of The Easton Group

Jose A. Hernandez-Solaun

DORAL, FL, Feb. 24, 2014— The Easton Group, a full-service commercial real estate firm based in Doral, Fla., announced that corporate finance executive Jose A. Hernandez-Solaun has been hired as its new president. 

In his role, Hernandez-Solaun will work with Easton’s investment partners and oversee day-to-day operation of the company which manages, leases, develops and owns more than 4.5 million square feet of commercial real estate in South Florida and outside of the state. 

Prior to joining The Easton Group, he was a senior vice-president at GE Capital, a division of General Electric.  Based in South Florida most of his career,  Hernandez-Solaun spent 15 years at GE Capital assisting C-level executives of mid-market companies with their financing needs. 

While at GE, he attended classes at the John F. Welch Leadership Development Center and achieved Green Belt and simpleLEAN certification in Six Sigma methodology.

“Jose has the right skillset to help lead us through our next phase of growth,” said Edward W. Easton, chairman and founder of The Easton Group. “He not only brings the structure of a corporate environment, but he also thinks like an entrepreneur which is an important asset for our business model. In addition, he is a South Florida guy who knows the market well.”

Edward W. Easton

“I had a very good situation at my prior company, but when I got the opportunity to work for Ed Easton, who is one of the most successful and respected figures in the commercial real estate business, it was an opportunity I couldn’t pass up.  We have exciting times ahead of us and I’m truly excited to be part of the team steering the ship.”

While at GE Capital, Hernandez-Solaun simultaneously co-founded LEAD305, an open-source leadership platform for South Florida’s future leaders.  He also founded the Hernandez-Solaun Foundation, which educates young adults on the basics of personal finance, credit and business fundamentals.

  In addition to chairing his own foundation, Hernandez-Solaun also chairs the American Diabetes Association for Miami-Dade and Monroe Counties and is a committee member for the national organization.  In addition, he chairs the MIT Enterprise Forum of South Florida.

Hernandez-Solaun holds a BA in Entrepreneurship, Marketing and International Business from Florida International University. He received his MBA in 2005 from the University of Miami.  In December 2009, he earned an Executive Certificate in Strategy and Innovation from Massachusetts Institute of Technology.

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

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999/954-290-0810

Rhodes+Brito Architects moved to new headquarters in Downtown Orlando, FL

  

Rhodes+Brito Co-founders Ruffin Rhodes (left) and Max Brito

ORLANDO, FL – Rhodes+Brito Architects, recently moved into its new headquarters at Suite 750 of the Day Building, 605 E. Robinson Street.

Ruffin Rhodes, AIA, co-founder and principal at Rhodes+Brito Architects said the new offices now have 4,800 square feet of space.    

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including eight registered architects. The firm has exceptional experience providing architectural services to municipal government agencies.

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

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Larry Vershel or Beth Payan, Larry Vershel Communications

407-644-4142 (fax: 4410)

Essex Realty Group Brokers Sale of Renovated Multi-Family Apartment Building in Chicago, IL

1819 West Belmont Apartments,  Roscoe Village neighborhood, West Lakeview, IL

Kate Varde

 CHICAGO, IL – Essex Realty Group, Inc. is pleased to announce the recent sale of 1819 W. Belmont, Chicago, IL.  

The building is a 10-unit renovated building situated in the heart of Chicago’s Roscoe Village neighborhood in West Lakeview.

 The building contains ten fully renovated apartment units and one corner street level retail space.

Premium finishes include granite countertops, stainless appliances, hardwood floors, in-unit laundry, central heat and air and separate utilities.

Jim Darrow and Jordan Gottlieb of Essex represented the seller. Doug Imber and Kate Varde represented the buyer  in the transaction. 

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

SR Commercial Acquires Two Assets Totaling 74,540 SF

  

 2120 and 2122 West Mission Road, Escondido, CA, North San Diego County,

Adam Robinson

 SAN DIEGO, CA (Feb. 24, 2014) – SR Commercial, a privately held, full-service commercial real estate investment company, has acquired two properties encompassing 79,294 square feet in Southern California, bringing its current portfolio to 813,839 square feet as of February 2014, according to Adam Robinson, a Principal of SR Commercial.

“Our newest acquisitions, located in San Diego and the Inland Empire, reflect an increased tightening within the industrial and office markets throughout Southern California,” says Robinson, who founded SR Commercial with CJ Stos.

“Quality product continues to be scarce.  However, today’s market offers a number of potential ‘diamond in the rough’ properties, which provide the opportunity to add deep value and substantially increase net operating income and overall value.”

CJ Stos

Robinson notes that both of the firm’s recently acquired assets are value-add properties, and SR Commercial intends to implement improvements and repositioning strategies on each property.

SR Commercial’s recent acquisitions in San Diego and the Inland Empire include:

Acquisition #1: 

SR Commercial Acquires Multi-Tenant Industrial Park in Escondido, CA

SR Commercial has acquired a 40,154 square-foot industrial property located at 2120 and 2122 W. Mission Road in the city of Escondido, in North San Diego County, for a total consideration of $3.1 million.

Conor Boyle

 The Nordahl Center, which SR Commercial plans to rename Gateway @ Mission, is a retail/industrial park situated on 2.11 acres and consisting of a 36,877 square-foot multi-tenant building and a 3,277 square-foot single-tenant building.

The property is currently 66 percent occupied by 11 industrial tenants.

“Based on high vacancy and deferred maintenance at this property, we were able to negotiate a competitive purchase price on the asset, providing ample opportunity to implement improvements and reposition the property moving forward,” says CJ Stos, a Principal with SR Commercial.

SR Commercial plans to utilize its in-house management team to upgrade the building’s facade and interior units, and to repair all deferred maintenance issues, according to Stos. 

John Witherall

Coinciding with its repositioning of the property as “Gateway @ Mission,” the firm will work closely with Conor Boyle and John Witherall of Colliers in order to market vacant suites to retail and industrial users.

“This is an excellent time to own quality industrial space available for lease,” says Stos, who notes that lease rates continue to rise as vacancy declines in the Greater San Diego industrial market.  “We anticipate that we will have the opportunity to incrementally capture rising rents as the property’s current leases roll over.”

Both SR Commercial and the seller, a private investor, were represented by Bryce Aberg and Brant Aberg of Cassidy Turley and Mike Erwin and Tucker Hohenstein of Colliers in the transaction. 

SR Commercial Acquires a Class A Office Property in Murrieta, CA

38670 Sky Canyon Drive, Murrieta, CA

 Acquisition #2: 

 SR Commercial has acquired a 39,140 square-foot, Class A, two-story professional office building located at 38670 Sky Canyon Drive in Murrieta, Calif. for a total consideration of $2.9 million.

The property, which was built in 2008 as a speculative development, is currently vacant and in warm shell condition, according to SR Commercial.

“As a quality asset in a strong Inland Empire submarket, this office property presents an enormous opportunity to build value,” says Stos, who explains that a bridge loan was granted on the property that will allow SR Commercial to complete construction of new tenant improvements.

Mike Erwin

“We plan to build out the vacant space and aggressively market the property in order to bring the building to 100 percent occupancy, and then sell the property as a leased investment within 13 to 36 months,” Stos explains.

Prior to the close of escrow, SR Commercial secured a 10-year tenant for the ground floor. 

Both SR Commercial and the seller, a private investor, were represented by Corey Martin and Stan Nowak, of Coldwell Banker Commercial in the transaction.

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

Amanda Alenick/ Jenn Quader

 Brower, Miller & Cole

(949) 955-7940

Aalenick@browermillercole.com

www.sr-commercial.com.

McCraney Property Co. Closes on its Bent Oak Industrial Park Land Acquisition in Metro Orlando, FL

  

Rendering of planned Bent Oak Industrial Park, adjacent to Florida Turnpike and Taft-Vineland Road, metro Orlando, FL

  

Steven E. McCraney

 ORLANDO, FL and WEST PALM BEACH, FL,  Feb. 24, 2014 – McCraney Property Company (MPC) closed on a prime, fully entitled 39-acre industrial site adjacent to the Florida Turnpike and Taft-Vineland Road in metro Orlando.

The site will be home to McCraney’s new Bent Oak Industrial Park, which will consist of 700,000 square feet of Class A warehouse-distribution product.

 The land purchase was all cash. Development financing was obtained from BankUnited.

 “I have a tremendous passion for Orlando development,” said Steven E. McCraney, SIOR, CCIM, President and CEO of McCraney Property Company, which is currently developing almost 1 million square feet of spec industrial in Central Florida. “We continue to be bullish on the Central Florida industrial market.”

Matthew Sullivan

The centrally located project includes more than 1,200 feet of Florida Turnpike frontage and is located just minutes away from the Beachline Expressway-Florida Turnpike interchange.

Clark Stranahan of C4 Architecture was selected as the managing architect.

Phase one of Bent Oak includes two state-of-the-art industrial buildings. Building I will be a 225,000-square-foot, 32’ clear, front-load distribution facility. Building II will be a 475,000-square-foot, 32’clear, cross-dock distribution facility. The site plan has been submitted to the county for approval. Groundbreaking is expected in early Q2 of 2014.

Wilson McDowell

Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International Central Florida, represented the seller in the transaction. The same Colliers team has been appointed exclusive leasing agent for the project. For more information, please call (407) 843-1723.

 MPC is also in the process of constructing two spec industrial buildings, totaling 243,000 square feet, in John Young Business Park with its joint venture partner Clarion Partners. The shells of both buildings are now finished.

 McCraney Property Company (www.mccraneyproperty.com) develops and manages commercial/industrial and warehouse/distribution properties located in West Palm Beach, the Treasure Coast and Orlando, Florida.

Robert Isola

 The company has developed corporate holdings exceeding 2,500,000 square feet. Services include development of Class A business parks, acquisitions, joint venture investments, construction and property management.

Led by President and CEO Steven McCraney, the company is very active in the commercial real estate industry and through its philanthropic endeavors in the communities it serves.

 For more information, call 561-478-4300 or 407-852-0701

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

Don Silver (donsil@boardroompr.com) or

 Ashley Fierman (afierman@boardroompr.com)

 Boardroom Communications, 954-370-8999/954-629-7523.

EagleBridge Capital Arranges $12.7 Million Mortgage For Multi-State Retail and Office Portfolio

  

Rite Aid, Mansfield, MA

Boston, MA -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $12,700,000 for a multi-state portfolio of retail and office buildings.  The portfolio includes 6 retail buildings and 2 office buildings. 

Brian D. Sheehan

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by a leading financial institution.

The financing proceeds were used to refinance the existing mortgages, cover all closing costs including prepayment premiums, and provide cash out to the borrower.  Total time from term sheet signature to closing was less than 35 days.

The retail buildings are located in Mansfield and Attleboro, Massachusetts, North Windham, Connecticut, North Kingston, Rhode Island, and North Hampton, New Hampshire.  The two office buildings are located in Lincoln, Rhode Island.

Retail tenants include Rite Aid, Advance Auto Parts, AT&T, Great Harvest Bread, Goodwill, AutoZone, and Dollar Tree.  The office buildings contain 30,000 square feet leased to 15 tenants. 

Ted M. Sidel

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to arrange financing within a very short closing window and provide permanent mortgage at a very competitive rate.”

 

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, free standing retail buildings, apartments, office, industrial, and r & d buildings, hotels, condominiums, and mixed use properties as well as special purpose buildings.

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

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

33 Broad Street

Boston, MA 02109

Tel: 617-292-7177 Ext. 14

www.eaglebridgecapital.com