THINC: The Best Idea in Hotel Networking Conferences Event Set for Chicago, May 15-16

  

Morris E. Lasky

             CHICAGO, IL —Organizers of The Hotel Investment Networking Conference (THINC) today announced the event will be held at the Hilton Chicago, May 15-16, 2014.

 Co-hosts for the event are DePaul University School of Hospitality Leadership and Lodging Unlimited, the hospitality consulting company. 

Organizers also announced the launch of the event’s new website, thinc-conference.com allowing interested parties to register for the conference and sponsorships and to access additional information regarding the conference.

            “It seems like there is a hotel conference every week, which is why we spent a great deal of time creating a concept that stands apart,” said Morris Lasky, co-chair and co-founder.

 “In addition to pre-eminent speakers, 100% of whom are CEO, presidents, owners, investors and senior executives, topical subject matter and interactive networking opportunities, the conference will be held the two days prior to the National Restaurant Association Show, one of the nation’s largest restaurant event.

Hilton Chicago

“ We believe this proximity will create synergistic opportunities for hoteliers and restaurateurs with developers, owners, operators, franchisors and the financial community.” 

   

            Cost for the two-day event is $895, which includes three general session power panels, speed networking, interactive THINC tanks, two cocktail parties and multiple networking and food events.

 Additional information and electronic registration are available at www.thinc-conference.com, and the conference electronic brochure can is  THINC Brochure .

  

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

chris@dalygray.com

Cocke Finkelstein Acquires Peppertree Apartments in Winchester, Va.

Peppertree Apartments, Winchester, VA

Byron Cocke

ATLANTA, GA — Cocke Finkelstein Inc. (CFI), a full-service multifamily investment firm, has acquired Peppertree Apartments, a 194-unit multifamily community in Winchester, Va., for $14.1 million. CFLane, the apartment management subsidiary of CFI, will manage the garden-style community.

 Peppertree Apartments, located about 80 miles west of Washington D.C., was 94 percent occupied at the time of closing.

 “Expanding the presence of CFI and CFLane in the Mid-Atlantic region is a major goal of ours in 2014, and this acquisition is an important step toward meeting that objective,” said Byron Cocke, CEO of CFI and CFLane.

 “The Mid-Atlantic is a great area for the company’s growth because of its strong employment and economic drivers, and its adjacency to our existing footprint,” Cocke added. “We are excited about bringing this property into our portfolio, and we feel it is well positioned for long-term success.”

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

Groundbreaking Arrives for Phase I of Airport I-10 Business Park in Phoenix, AZ

Phoenix, AZ (March 19, 2014) – Groundbreaking day has arrived for the first phase of Airport I-10—a Wentworth Property Company/Clarion Partners Class A industrial project being leased by the Phoenix office of JLL that, at completion, will represent one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history.

Pat Harlan

Located at the northwest corner of 24^th Street and Rio Salado, Phase I of Airport I-10 Business Park includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet).

Phase I of the project is slated for completion in the fall of 2014. At build out, the 58-acre site will comprise five Class A industrial buildings totalling 920,584 square feet.

“This is the last large, developable parcel left in the Sky Harbor International Airport submarket—an area that consistently ranks among the Valley’s top industrial locations,” said Wentworth Property Company Principal James R. Wentworth.

“Airport I-10 is already garnering great interest. With Phoenix’s continued population and job growth, we expect this demand to do nothing but rise in the years ahead.”

According to JLL research, the Sky Harbor Airport submarket absorbed approximately 1 million square feet of industrial space last year—almost 30 percent of the more than 3.5 million total square feet of industrial space absorbed Valley-wide in 2013.

Airport I-10 will offer a modern environment for corporate users and will be fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

Steve Sayre

“About 90 percent of the buildings in the airport submarket were built before 2000 and lack the modern features that today’s users are looking for,” said JLL Executive Vice President Pat Harlan, who serves as an exclusive leasing broker for the project along with JLL Executive Vice President Steve Sayre, JLL Associate Kyle Westfall and JLL Managing Director Mark Detmer.

“Airport I-10 delivers those benefits at a central location—a site that is truly at ‘main-and-main’ for industrial real estate.”

“Users are looking for space in the 50,000- to 300,000-square-foot range and there simply isn’t the product to accommodate that demand,” said Harlan.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Denise D. Resnik

(602) 956-8834, x111

denise@dracommunications.com

www.clarionpartners.com

www.jll.com.

www.wentworthpropertycompany.com

Marcus & Millichap Arranges Sale of 150-Unit Apartment Community in Hudson, FL for $7.65 Million

  

Town Homes at Sea Pines, Hudson, FL

Francesco 'Frank' Carriera

HUDSON, FL, March 19, 2014 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Town Homes at Sea Pines, a 150-unit apartment community located in Hudson, Fla, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $7,650,000.

Francesco “Frank” Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the seller, a private investor located in St. Petersburg, Fla.  The listing agents also procured the buyer of the property, a private investor based in Montreal, Quebec.

Town Homes at Sea Pines is located at 15902 Spyglass Terrace in Hudson, Fla.  The properties are all situated on approximately a 17.90 acre parcel of land and consist of spacious two and three/bedroom floor plans, built in three phases.

 The first phase was built in 1985 and consists of 34 two-bedroom/two-bathroom units.  The second phase was built in 2004 and consists of 50 two-bedroom/two-bathroom units with a second floor loft.  The most recent phase was completed in 2007 and consists of 66 three bedroom/two-bathroom units with a bonus room on the first floor.  

Michael Regan

“The buying entity is an investment company from Canada who has a significant presence in the United States; however, this is their first acquisition in the Tampa Bay area,” says Carriera.

 “Although trailing financials were not the strongest, they viewed this as a value-add opportunity, as the net effective rent was about $200 below market.  Additionally, this presented an opportunity for the investor to purchase new construction for $38 per square foot, which is well below its replacement cost,” concludes Carriera.

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

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

Chicago's 500 Lake Shore Drive Surpasses 95-Percent-Leased Milestone

  

500 Lake Shore Drive, Chicago, IL

  

CHICAGO, IL, March 19, 2014 – Developer Related Midwest has announced 500 Lake Shore Drive is quickly approaching full lease-up, with the 500-unit ultra-luxury rental building surpassing the 95-percent-leased mark in just over 10 months since its May 2013 grand opening. 

The 47-story glass building, which affords pristine lakefront views from its Lake Shore Drive address in Streeterville, marked Related Midwest’s debut rental property in Chicago and set a new standard for the city’s luxury apartment market.

Curt Bailey

This summer the developer is poised to once again raise the bar for rental living in Chicago when it opens its second downtown apartment tower at 111 West Wacker Drive.

“The response to 500 Lake Shore Drive has been phenomenal, which proves that Chicago was ready for a luxury apartment building of this caliber,” said Curt Bailey, president of Related Midwest, who noted that traffic continues to be strong in the building’s leasing center and that all but one of the building’s premier top-floor penthouses are rented.

“Now that we’ve had the opportunity to introduce the city to Related’s signature approach to rental living, we’re looking ahead to unveiling our next luxury rental property at 111 West Wacker Drive, where we’re building on many of the same elements that have been key to our success with 500 Lake Shore Drive,” he added.

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

Hold-Thyssen negotiates Leases totaling 2,889 Square feet at Pennock Business Center in Jupiter, FL

  

Therese Taylor

JUPITER, FL and WINTER PARK, FL--- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated new, renewal and expansion leases for flex/warehouse space at Pennock Business Center, 711 Commerce Way in Jupiter.  

Therese Taylor, leasing agent for Hold-Thyssen, negotiated the transactions representing the landlord, Miami-based LNR Partners, LLC d/b/a GECMC 205 C-4 Industrial 711, LLC. 

 RHR Pools, Inc. renewed its existing lease of 1,500 square feet and expanded with a new lease for a second unit with 693 square feet.     A single individual signed a lease for 693 square feet at the center.

 Hold-Thyssen, Inc. 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 a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com.