Marcus & Millichap arranges sale of rosemont plaza in orlando, fl for $6.2 million

Douglas K. Mandel

 ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Rosemont Plaza, a 99,103-square foot retail property located in Orlando, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,200,000.

Douglas K. Mandel, a first vice president investments, and Barry M. Wolfe, a vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, an affiliate of Ram Realty Services.

 The buyer, a partnership from Opa Locka, Fla, was secured and represented by Jason N. Yukins, a senior associate, in Marcus & Millichap’s Fort Lauderdale office.

 “The property’s location and potential for lease upside make Rosemont Plaza an excellent investment opportunity. Orlando is one of the fastest growing cities in the nation and is ranked among the top ten business locations in the country” says Wolfe.

Barry M. Wolfe

Rosemont Plaza is a 99,103-square foot retail center located on more than 10 acres.  The property is currently 79 percent leased to a variety of local and national tenants such as dd’s Discounts, Save-a-lot food stores, Dollar Tree and Hungry Howies. The building was constructed in 1985 and extensively renovated in 2012.

Rosemont Plaza is approximately three-miles west of Interstate 4 and five miles north of the East–West Expressway offering convenient access to all of Orlando and the surrounding area, as well as the Florida Turnpike. 

The property is located at 5800 North Orange Blossom Trail in Orlando, FL.

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

Ryan Nee

Regional Manager

Fort Lauderdale, FL

(954) 245-3400

Avison Young expands Downtown Los Angeles office with new 13,105-square-foot lease at City National Plaza

Chris Cooper

 Los Angeles, CA – Chris Cooper, Avison Young Principal and Managing Director of the company’s Southern California region, announced today that the firm’s Downtown Los Angeles office is expanding.

Avison Young has signed a seven-year, 13,105-square-foot (sf) lease at City National Plaza located at 555 South Flower Street.

Avison Young’s Downtown office is currently subleasing just under 8,000 sf of space within City National Plaza. The new lease will now be direct with the landlord, CommonWealth Partners, and will increase the office size by more than 5,000 sf.

“Avison Young launched its first office in Southern California in August 2011,” comments Cooper. “Since then, our Southern California operation has grown to six offices and more than 100 employees.

“This year, we will be continuing our aggressive expansion that will focus on further strengthening our full-service platform for our clients. This additional space in Downtown Los Angeles is testimony to our long-term commitment to the region as well as the local market, and will accommodate our future growth.”

City National Plaza
Downtown Los Angeles, CA

Ted Simpson, Avison Young Principal and Downtown Los Angeles Managing Director, notes that City National Plaza’s central location, on-site amenities, and strong relationship with CommonWealth Partners were all factors in the firm’s decision to keep its Downtown office at the prestigious property. 

"The new space will be designed by Gensler, who will also make additional enhancements to its adjacent existing space on the 32nd floor. Official move-in is anticipated for April 2015.

  

City National Plaza consists of two, 52-story office towers, a three-story central plaza level building and four subterranean levels. 

It is one of the nation’s largest highrise office developments, and encompasses more than 2.6 million square feet on a 4.2-acre super-block at 5th and Flower Streets. 

Designed by noted Los Angeles architect Albert C. Martin Associates, the project was the first major business center in the heart of the financial district and has shaped the Downtown Los Angeles skyline for more than 30 years.

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

From Tenant to Owner: JLL Completes $6.25 Million Talavi Building Sale in Phoenix, AZ

5869 Talavi, Phoenix, AZ

Brian Ackerman

PHOENIX, AZ – In an deal that points to rising corporate confidence, the Phoenix office of JLL has completed a $6.25 million Class A office building sale that brings Phoenix Heart – the anchor tenant at 5859 Talavi – from project tenant to project owner.

JLL Senior Vice President Brian Ackerman represented the property seller, Credit Union West, in the transaction. Marcus Muirhead of Colliers International represented Phoenix Heart.

Recognized as a leading Valley cardiology group, Phoenix Heart PLLC currently occupies 50 percent of the 35,904-square-foot building at 5859 W. Talavi Blvd., within the Talavi Business Park in Glendale, Arizona.

The building’s remaining space is fully occupied by quality tenants including Credit Union West, John C. Lincoln and Wallick & Volk.

“This deal points to a new level of confidence and solid market recovery,” said Ackerman. “Five years ago, recession fundamentals and uncertainties would have blocked this type of sale, but today the outlook is optimistic.

Marcus Muirhead

“Tenants are more confident, and considering opportunities to buy their buildings and secure the benefits of a market upswing.”

The 5859 Talavi building is located near the southeast corner of Bell Road and 59th Avenue in Glendale, Ariz., with an immediate area that is inundated with retail amenities that attract tenants to work in Talavi Business Park.

It is adjacent to the Talavi Town Center retail project and surrounded by neighbors such as the Thunderbird School of International Business, ASU West and Midwestern University.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

HFF closes sale of and arranges financing for three-building suburban office portfolio in north Dallas, TX

5000 Quorum Drive in Dallas, TX and Quorum Place and Quorum North in Addison, TX

DALLAS, TX – HFF announced it has closed the sale of and arranged acquisition financing for a three-building office portfolio totaling 465,703 square feet in suburban north Dallas, Texas.

                HFF marketed the property on behalf of the seller, Harbert Management Corporation.  DRA Advisors LLC purchased the asset for an undisclosed amount free and clear of debt.  

HFF assisted DRA in securing three separate three-year, floating-rate loans through OneWest Bank.

                The portfolio consists of:  5000 Quorum Drive in Dallas and Quorum Place and Quorum North in Addison. 

Situated on 4.5 acres between the Dallas North Tollway and Inwood Road, the 165,434-square-foot 5000 Quorum has seven stories and is 77.2 percent leased. 

At nine stories and 181,737 square feet, Quorum Place is the largest of the three in the portfolio.  The 78.2-percent-leased building is situated on 5.4 acres at 14901 Quorum Drive in Addison north of the 5000 Quorum Drive property. 

Steve Heldenfels

Quorum North, located at 13201 Spectrum Drive in Addison, is situated on 2.8 acres northeast of the other two properties in the portfolio.  At 118,532 square feet, the five-story, 75.7-percent-leased office building is the smallest in the portfolio.

                HFF’s debt placement team was led by managing directors Colby Mueck, Matt Kafka and Steve Heldenfels and real estate analyst Sarah Baccich.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes the largest land sale in New Jersey during 2014

Aerial of Part of the Giralda Farms complex in both Madison and  Chatham, NJ

Jose Cruz

FLORHAM PARK, NJ – HFF announced it has closed the sale of a 205.6-acre land site that is part of the larger Giralda Farms complex located in both Madison and Chatham, New Jersey. 

This is the largest land sale, by acreage, in New Jersey during 2014.

                HFF worked exclusively on behalf of the seller, an entity owned by a CMBS trust, acting by and through its special servicer. 

                The land site is located along Route 124 (Madison Avenue) on the border of Madison and Chatham in Morris County near both Interstate 287 and Route 24. 

The site is three miles from Morristown, 18 miles from Newark Liberty International Airport and 25 miles west of Manhattan. 

The site is split into four main parcels:  Madison Parcel (Block 2202, Lot 1), which has 40.1 acres zoned for 436,000 square feet of office space; Chatham Parcel (Block 142, Lots 1 and 2), which is zoned for 750,000 square feet of office space on its 131.63 acres; and Chatham Woodland Parcels (Block 141, Lots 7, 8 and 9.04), which has 33.86 acres that are zoned residential.

Kevin O'Hearn

The HFF investment sales team was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, senior real estate analyst Marc Duval and supported by senior managing director Andrew Scandalios.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of and secures financing for office building in West Houston, TX

9990 Richmond Avenue, Westchase District, Houston, TX

H. Dan Miller

HOUSTON, TX – HFF announced it has closed the sale of and secured acquisition financing for a 186,964-square-foot office building located at 9990 Richmond Avenue in the Westchase District of Houston, Texas.

                HFF marketed the property on behalf of the seller, a joint venture between Fuller Realty Partners, LLC and Harbert Management Corporation.

 Rockwell Management Corporation purchased the property free and clear of debt.  HFF also secured a 10-year, fixed-rate acquisition loan on behalf of the new owner through Natixis Real Estate Capital, Inc. 

                9990 Richmond Avenue is situated on 5.66 acres at the northeast corner of Richmond and Briarpark in Houston’s Westchase District one half mile from the Sam Houston Tollway (Beltway 8). 

The four-story building has an attached three-story parking garage and underwent several upgrades from 2011 to 2014, including renovating the lobby. 

Martin Hogan

The asset is currently 92.2 leased to a variety of tenants, including Seismic City, Costello, Norris Conference Centers, U.S. Navy Recruiting, DBR Engineering and Selene Finance. 

                The HFF investment sales team representing the seller was led by senior managing director H. Dan Miller, director Martin Hogan and real estate analyst Wesley Hightower. 

The Natixis Real Estate Capital, Inc. team was led by Vishal Vanjani and Brian Staley. 

                The HFF debt placement team representing the buyer was led by managing director Colby Mueck and real estate analyst William Crawley.

                “9990 Richmond is a unique asset in that it provides for a 4.5/1,000 parking ratio in a precast concrete parking garage and offers efficient, 50,000-square-foot floor plates on the top two floors,” Hogan said.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes $105.625 million sale of Three-building office portfolio Boston’s Seaport District

300 A Street, 313 Congress Street and 330 Congress Street, Boston, MA

Coleman Benedict

BOSTON, MA – HFF announced it has closed sale of three best-in-class, creative office assets totaling 221,064 square feet and 35 parking spaces.  The three buildings are all located in Boston’s thriving Seaport District.    

                HFF exclusively marketed the offering on behalf of the seller, DivcoWest, and procured buyer Multi-Employer Property Trust (MEPT), an institutional investor advised by Bentall Kennedy, in this $105.625 million transaction.

                The offering included 300 A Street, 313 Congress Street and 330 Congress Street, all of which are former warehouse buildings that have been converted to high-quality creative spaces featuring exposed ceilings, open floor plans, sandblasted brick walls and timber columns.

 The buildings are steps from South Station, Boston’s major multi-modal transportation hub and feature immediate access to an abundant amenity base including numerous dining, retail and entertainment destinations. 

Ben Sayles

                The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Patrick McAneny.

“The Fort Point Channel area is one of Boston’s most exciting neighborhoods,” said Benedict.  “In this acquisition, MEPT and Bentall Kennedy have acquired irreplaceable assets in a submarket that is marked by massive tenant in-migration and strong barriers to entry.” 

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes $22.4 million ground sale/leaseback and secures $21 million financing for Holiday Inn Manhattan View in Long Island City, NY

Holiday Inn Manhattan View Hotel, 39-05 29th Street, Long Island City, NY

Robert Delitsky

NEW YORK, NY – HFF announced it has closed the $22.4  million ground sale/leaseback and arranged $21 million financing for Holiday Inn Manhattan View, a 136-key, full-service hotel located in Long Island City, Queens.

HFF marketed the property on behalf of the seller, Queens Plaza North, LLC.  A New York-based private investor purchased the land under the hotel and then leased it back to Queens Plaza North, LLC, for 99 years. 

In addition, HFF worked on behalf of Queens Plaza North, LLC, to secure a fixed-rate loan through CCRE.

Holiday Inn Manhattan View is situated on.29 acres at 39-05 29th Street in Long Island City, approximately three miles west of LaGuardia Airport and 1.5 miles east of Manhattan.

 The 39th Street Subway station serving the N and Q trains is two blocks from the hotel.  The 16-story property offers views of Manhattan from the top two floors, which have suites.  Approximately one-third of the guest rooms have terraces. 

The hotel features a full-service restaurant, lounge with patio space, state-of-the-art fitness center, business center, 800 square feet of meeting space, concierge and on-site parking. 

                The HFF team working on the transactions was led by managing director Robert Delitsky, director KC Patel and real estate analysts Jackie Ferrer and Cindy True.

                “The Holiday Inn Manhattan View carries a global brand recognized by international and domestic travelers and reflects the burgeoning demand for moderately priced hotel rooms in the outer boroughs with convenient access to Manhattan,” Patel said.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF secures $103 million refinancing for Class A office building in downtown Bethesda, MD

Artery Plaza, 7200 Wisconsin Avenue, Bethesda, MD

Nicole Snarski

WASHINGTON, DC – HFF announced it has secured a $103 million refinancing for an 11-story, 274,526 square-foot office building at 7200 Wisconsin Avenue in downtown Bethesda, Maryland.

                Working exclusively on behalf of the borrower, an affiliate of The JBG Companies, HFF placed the four-year term with a one year extension option, floating-rate loan with SunTrust Bank.

                7200 Wisconsin Avenue is located at the corner of Wisconsin and Bethesda Avenues, one of the most sought-after locations in the Washington, D.C. metro area.

 The Bethesda Metro Station (Red Line) is less than a five minute walk from the building, and the property features a 7,000-square-foot landscaped plaza that serves as the Wisconsin Avenue entrance. 

Tenants include Edens, Linowes & Blocher, Singapore Economic Development, University Research, Enviva and StonebridgeCarras.

Sue Carras

                The HFF debt placement team representing the borrower included Sue Carras, Walter Coker, Brian Crivella, Neil Campbell and Nicole Snarski.

“This refinancing affords the sponsor maximum flexibility to use additional proceeds to fund tenant and capital improvements and leasing commissions and create additional street-level retail, including a future jewel box concept, to take advantage of its location at the center of one of the strongest office, retail and residential enclaves in the D.C. metro area,” Coker said.

Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. 

The company has more than $10 billion in assets under management and development in the Washington, D.C. area.  Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities. 

Walter Coker

For more information, please visit www.JBG.com or find them on Twitter @TheJBGCompanies and Facebook facebook.com/TheJBGCompanies.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. 

For more information please visit www.hfflp.com or follow HFF on Twitter @HFF.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF secures $65.5 million financing for 4-building Class A office park in Florham Park, NJ

Park Place, 200--230 Park Avenue, Florham, NJ

Jon Mikula

FLORHAM PARK, NJ – HFF announced it has secured $65.5 million in financing for Park Place, a four-building, Class A office park totaling 351,684 square feet in Florham Park, New Jersey. 

                HFF worked exclusively on behalf of the borrower, Normandy Real Estate Partners, to secure the loan with First Niagara Bank and Principal Real Estate Investors.

  Loan proceeds will be used to retire existing debt, upgrade amenities to meet “Best in Class” standards and fund leasing costs for new tenants.

                Park Place is situated on 30.06 acres at 200-230 Park Avenue along the Route 24 corridor in the western part of Florham Park, a northern New Jersey township in Morris County approximately 30 miles west of Manhattan.

 Amenities include an on-site cafeteria and fitness center, 70-seat conference center and parking for 1,405 vehicles.  All four of the three-story buildings were reconstructed from the steel frame in 2001 and are leased to Fairleigh Dickinson University, M&T Bank, Sun Bank and several of the state’s leading law firms.

                The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula and associate director Mike Lachs.

                “We were excited to be a part of the Normandy team helping to  re-introduce Park Place to the market,” Mikula said. 

 “By partnering First Niagara with Principal, we were able to provide a creative, cost effective solution.”

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF launches redesigned website with intuitive navigation and interactive resources

                        

Arnaud Dasprez

                                                 HOUSTON, TX –HFF announced it has launched a redesigned website, hfflp.com,  with intuitive navigation and interactive resources to cater to the information needs of owners and investors of commercial properties across the country.

                The new website was designed with a user-friendly experience in mind, and the responsive design allows the user to easily explore the site on a PC, MAC, tablet or mobile device.

“The redesigned website was built to be efficient and user friendly and will provide owners and investors with the most up-to-date information on our properties and services to ensure the best commercial real estate transaction experience,” said Myra Moren, managing director of Marketing for HFF.

HFF contracted with Houston-based interactive marketing agency HexaGroup to work with HFF’s Marketing and IT teams to modernize the way HFF’s commercial real estate capital markets services are presented online.

“This project was a great fit for us, and we were especially excited to work with HFF’s forward-thinking Marketing people and strong IT team,” says Arnaud Dasprez, president of HexaGroup.  “HFF’s new web presence will serve its audiences well.”

  

 For more information please visit www.hfflp.com or follow HFF on Twitter @HFF.

Myra F. Moren,

HFF Managing Director, Marketing                                  

(713) 852-3500                                                                            

mmoren@hfflp.com

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of Aloft Houston Galleria hotel in Houston, TX

Aloft Houston Gallery Hotel, Galleria/Uptown Neighborhood, Houston, TX

Dan Peek

 TAMPA, FL – HFF announced it has closed the sale of the Aloft Houston Galleria, a 152-key boutique hotel near the Galleria in Houston, Texas. 

HFF marketed the property on behalf of the seller, HEI Hotels & Resorts (HEI).  HEI will continue to manage the property.

                The select-service hotel is situated on .99 acres at 5415 Westheimer Road in the Galleria/Uptown area of Houston two and a half blocks from Houston’s Galleria Mall and less than a mile from the West Loop (Interstate 610).

 Built in 2009, the five-story Aloft by Starwood-branded hotel has 112 king, 30 double queen, five accessible king and five accessible queen guest rooms. 

The pet-friendly hotel features the re:mix lounge with a pool table, an indoor heated pool referred to as “splash”, the re:charge 24-hour fitness center, camp Aloft program for kids aged 2 to 12, 500 square feet of meeting space, touch and go check-in kiosks and in-room guest terminals to provide internet access. 

John Bourret

Dining options include re:fuel by Aloft, a grab and go, self-service gourmet eatery that includes salads, sandwiches, wraps, cappuccinos and a chef-prepared build-your-own breakfast.

                The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, managing directors John Bourret and Colby Mueck and real estate analyst Austin Brooks.

HFF’s Hotel Group has been active in the sale and financing of similar hotels across the country.  In the first three quarters of 2014, the firm financed or sold 74 hotels and resorts with total transaction volume totaling nearly $1.98 billion.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com