IDI Gazeley Appoints New Chief Financial Officer for North America

Matt Berger

ATLANTA, GA (March 25, 2015) – IDI Gazeley, a leading global investor and developer of logistics warehouses and distribution parks, today announced that Matt Berger has joined the platform as Chief Financial Officer for North America.

He will participate in key decisions as a member of the executive management team, assist in formulating the company's future direction and supporting tactical initiatives, and monitor and direct the implementation of strategic business plans.

He will be based in the company’s Atlanta Core Support office.

“Matt’s wealth of experience and financial knowledge make him a valuable addition to the IDI Gazeley team,” said Jay Cornforth, Managing Partner, Global Head of Industrial at Brookfield Properties and CEO of IDI Gazeley North America.

 “Matt has a background that will immediately help our business while guiding us as we continue to grow.

Jay Cornforth

“Our expanding portfolio and increasing demand led us to look for an addition to our team who fit with our ethos of innovation and exceptional service, and we’re confident that Matt will play a key role in delivering these values.”

Berger joins IDI Gazeley from Brookfield Renewable Energy Group where he worked as Head of Capital Markets.

He played a key role in supporting the long-term growth of the business on a global scale. Prior to joining Brookfield, he worked at Old Mutual Asset Management, a London based asset management business.

He held various posts including CFO and Strategic Advisor to the CEO, leading their efforts to take the business public.

He graduated from the University of Notre Dame with a BA in Business Administration and from the University of North Carolina with an MBA.      

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

Mary Claire Keane

JACKSON | SPALDING

P 404-214-3559

E mkeane@jacksonspalding.com

www.brookfieldpropertypartners.com

Feldman Equities LLC/Tower Realty Partners Reacquire Equity Position in Wells Fargo Center, Downtown Tampa, FL

Wells Fargo Center, Tampa, FL

Larry Feldman

TAMPA, FL – Feldman Equities LLC and Tower Realty Partners announced today that they have reacquired an equity position in Wells Fargo Center a 22-story, 390,000 square foot office tower located in downtown Tampa.

 The groups’ ownership interest is a joint venture partnership with an institutional investor that purchased the building late last year.

Feldman Equities and Tower Realty originally acquired the building at the end of 2012 in joint venture partnership with another institutional investor. 

“We are excited about the future of Downtown Tampa and look forward to being a part of that future,” stated Larry Feldman, CEO of Feldman Equities.

As part of the agreement Tower Realty Partners will retain management responsibilities with Feldman Equities providing leasing oversight.  Cushman & Wakefield has been retained to represent the ownership group in leasing the building. 

Jeff Lanning and Brian Breeding of Cushman & Wakefield will spearhead leasing efforts. The building currently has 33,000 square feet available for lease.

 Additional building information is available at www.wellsfargocentertampa.com.

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

tyoungman@assetmarketingonline.com

Marcus & Millichap Arranges Sale and Leaseback of Quarterdeck Seafood Bar & Neighborhood Grill in Davie, FL

Quarterdeck Seafood Bar & Neighborhood Grill,
3155 South University Drive, Davie, FL

Scott C. Sandelin

DAVIE, FL, March 25, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale-leaseback of Quarterdeck Seafood Bar & Neighborhood Grill, a 5,500-square foot net-leased restaurant located in Davie, Fla.

The asset sold for the list price of $2,087,000 which represents a 5.75 cap rate for the investors.

Scott C. Sandelin, an associate vice president investments, and Edward Romo, an associate, in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Fort Lauderdale, Fla, and the buyer, a limited liability company from Aventura, Fla.

“The sale-leaseback structure of this investment provided an investor with the opportunity to own a property with strong real estate fundamentals and low rent, occupied by a tenant with a 16-year operating history at the location,” says Sandelin.

Edward Romo

“The buyer will benefit from a new 15-year lease, with increases every five years for the life of the lease and upon commencement of each option period.”

This low cap rate sale is another strong indicator of the limitless demand for quality South Florida investment real estate assets.

Located at 3155 South University Drive, Quarterdeck is directly across from the 314-acre Nova Southeastern University campus with 27,000 students. The Quarterdeck has operated from this location since it was established in 1999.

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

Kirk A. Felici

First Vice President

Regional Manager

Miami, FL

(786) 522-7000

Fifield Cos. Affiliate Purchases Daniel Burnham-designed 600 W. Jackson Office Building in Chicago’s West Loop

            

600 West Jackson, West Loop, Chicago, IL

Steven Fifield

CHICAGO, IL (March 25, 2015) – Fifield Cos. has purchased 600 W. Jackson, an eight-story, 106,000-square-foot office building in Chicago’s West Loop.

Built in 1912, 600 W. Jackson was designed by famed Chicago architect Daniel Burnham for the Otis Elevator Company.

“This was a unique opportunity to own a historic office building in the heart of Chicago’s hot West Loop office market,” said Steven Fifield, chairman and CEO of Fifield Cos.

“The proximity to public transportation and the building’s classic architectural features make it a desirable property, particularly its 12-15 foot ceilings, which are favored by creative and tech tenants.

“With its strong tenant roster and our plans to transform much of the building into creative office space, we have no doubt this will be a premier office building for years to come.” 

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

Kim Manning, kmanning@taylorjohnson.com 312-267-4527

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

$18.7 Million Spring Villas Townhomes Sale in Sparks, NV Arranged by Marcus & Millichap

Spring Villas Townhomes, Sparks, NV

Kenneth Blomsterberg

 SPARKS, NV, March 25, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Spring Villas Townhomes, a 160-unit apartment community located in Sparks, Nev. The $18.7 million sales price equates to $116,875 per unit. The cap rate is 5.31 percent.

            Kenneth Blomsterberg, first vice president investments, and Ryan Rife, associate, both in Marcus & Millichap’s Reno office, represented the seller, WLA Investments Inc., and the buyer, Standard Management Co.

            “Spring Villas’ townhome-style floor plans, high-level interior and exterior property amenities and the location of each townhome on its own lot with no entitlement risk make it an exceptional real estate investment opportunity,” says Blomsterberg.

Ryan Rife

“The property is a stabilized multifamily asset that is well-positioned for long-term growth and additional upside through the option to exit via individual condominium sales,” adds Rife.

            Built in 1978 on 13 acres, Spring Villas Townhomes is located at 431 Spring Villas Drive in Sparks just over five miles from the Reno-Tahoe International Airport, the Reno Amtrak station and downtown.

 Interstate 80, McCarran Boulevard, U.S. Route 395 and Interstate 580 are all nearby. Sparks Marina Park, an 81-acre park with a 77-acre lake and views of the Sierra Nevada Mountains and Truckee Meadows is a one-half-mile walk from the property.

            

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

Gina Relva

Public Relations Manager

(925) 953-1716

NAI Realvest Negotiates New Retail Lease of 2,760 square foot former Wendy’s restaurant facility in Tampa, FL

Kimberly Manson

TAMPA, FL – NAI Realvest recently negotiated a new retail lease for 2,760 square feet at 7534 W. Hillsborough Ave. – the former Wendy’s restaurant and drive-through.  

The NAI Realvest team of Jeffrey Tanner and Kimberly Manson negotiated the transaction representing local landlord Richard S. Cohen Revocable Trust and the new tenant, A B International Corp., a Florida Corporation dba Twin Donut, a New York based quick serve restaurant with plans to further expand throughout Central Florida.

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

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

NAI Realvest Negotiates Office Building Sale in Longwood, FL

George Livingston

ORLANDO, FL – NAI Realvest recently negotiated the sale of an 11,460± square foot office building on a 0.66 acre site at 280 S. Ronald Reagan Blvd. (CR 427) in Longwood. 

NAI Realvest, broker associate Drew Saphos, CCIM, chairman George Livingston and principal Christie Alexander negotiated the sale representing the seller, Boston-based Monty Titling Trust I.

The two-story office building was purchased for $575,000 by Lake Mary investor, 280 South Ronald Reagan LLC.

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

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