American Realty Advisors Cuts Water Use by 27 Percent in Charlotte, NC Office Property

South Tryon Square, 201 South Tryon, Charlotte, NC

 CHARLOTTE, NC, May 7, 2015 – Institutional real estate investment manager American Realty Advisors has announced that its ongoing strategy to boost sustainability throughout its national portfolio has had a substantial effect on water consumption for its office property South Tryon Square, located at 201 S. Tryon in Charlotte, North Carolina.

Stanley lezman

The firm, which currently has $6.7 billion in assets under management, reduced water consumption at South Tryon Square by 27 percent, and was recognized as a leader in water conservation by the Environmental Protection Agency.

“The need for water conservation is a growing concern across the U.S.,” says Stanley Iezman, Chairman & CEO of American Realty Advisors. “According to a 2013 survey by the Government Accountability Office, 40 states expect to experience water shortages in the next decade.”

 Iezman continues, “The U.S. consumes a whopping 26 billion gallons of water daily, and commercial properties account for nearly 12 percent of that consumption. 

Based on these numbers, it’s essential for asset managers to go beyond talking about sustainability, and instead find new ways to actually move the needle when it comes to water use reduction.”

 South Tryon Square is a 236,697 square-foot, 15-story Class A office building.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

.

$107.75 million sale of Class A office tower in downtown Charlotte, NC closed by HFF

101 Independence Center, Downtown Charlotte, NC

CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $107.75 million sale of 101 Independence Center, a 565,694-square-foot, Class A office tower in downtown Charlotte, North Carolina.

Kelly Kuykendall

HFF exclusively marketed the property on behalf of the seller, KBS Real Estate Investment Trust, and their asset manager, Gramercy Property Trust Inc.

 A joint venture between LRC Properties, LLC (LRC) and an undisclosed institutional capital source purchased the asset free and clear of existing debt.  

LRC now owns and manages approximately 3.4 million square feet of space in Charlotte and is also the third largest industrial owner in Charlotte.

101 Independence Center is situated on 1.83 acres at The Square, the intersection of Trade and Tryon Streets that comprise the center of downtown Charlotte.  

The building is two blocks from the CTC Lynx light rail station, the terminus of the new Lynx Gold Line that runs 10 miles with 34 stops.

  

Ryan Clutter

Renovated in 2001, the 20-story tower features a concierge, food court, restaurants and three-story atrium connecting the tower to the adjacent 451-key Charlotte Center City Marriott hotel. 

Additionally, the building has a connected three-story underground parking garage with 320 spaces and an adjacent 268-space parking lot. 

101 Independence Center is 82.2 percent leased to office tenants Bank of America; Northeastern University; Clifton Larson Allen LLP; G4S Solutions; Grier Furr and Crisp PA; Robinson, Bradshaw and Hinson and Smith Moore Leatherwood LLP in addition to retail tenants Newk’s Eatery, Starbucks, Uptown Sundries, Subway, Tin Tin Box & Noodles and Showman’s.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter and real estate analyst’s Zachary Drozda, Kelly Kuykendall and Ryan Eklund.

“101 Independence Center received very strong interest from the marketplace, attracting a deep bench of investors,” Clutter said.  

“Charlotte has truly evolved into a dynamic market for institutional capital.  Given the strong investor appeal of Charlotte currently, we anticipate a very active selling environment through the remainder of 2015 with many notable institutions seeking quality investments in the city.” 

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of 14-property, multi-state seniors housing portfolio in Six States

Chad Lavender

 DALLAS, TX, May 7, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a 14-property seniors housing portfolio totaling 1,038  units located in California, Oklahoma, Ohio, Texas, West Virginia and North Carolina.

HFF marketed the portfolio on behalf of the seller, a joint venture between private funds managed by Iron Point Partners, LLC and Meridian Senior Living, LLC (Meridian). 

ROC Seniors Housing Fund Manager, LLC (“ROC Seniors”) purchased the 14-property portfolio for an undisclosed amount.  

In addition, ROC Seniors agreed to purchase an additional 46-unit asset located in Ohio that will close at a later date.   Meridian will continue to manage the properties.

The portfolio is comprised of a mix of independent living, assisted living and memory care units.  Properties are located in Anaheim, Riverside, Culver City, Los Angeles, West Hills and Lompoc, California; Mustang and Oklahoma City, Oklahoma; Toledo, Ohio; Tomball, Texas; Elkins, West Virginia; and Fayetteville, North Carolina.

The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

GLT Group Brokerage Arranges sale of Midway Plaza in Largo, FL

MIAMI BEACH, FL, May 7, 2015  — GLT Group Brokerage announced the sale of Midway Plaza, a 75,096 - square foot shopping center property located in Largo, Fla.

Sean Shahar A. Ziv represented the buyer Equity Management Partners managed by Ben Mallah, one of the most active real estate groups in Florida. The assets sold for $9,300,000.

“The property is located on Missouri Avenue a busy, well-traveled road and is well-positioned to serve not only the needs of the residents but also the tourist traffic.” says Sean.

 Located at 1229 – 1581 N. Missouri Ave Largo, Florida 33770, the property is immediately west of 595 road and close by to new Walmart center. Tenants include a mix national retailers, including TJ Maxx, Dollar Tree, Ross Dress For Less, Shoe Carnival.

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

 Ran Ziv

Office: 940 Lincoln Road Suite

 Suite 302

rziv@thegltgroup.com

Miami Beach, FL 33139 USA

License CA 01918311

License FL SL3278866

Jay Zukanovic Joins KIG as Financial Analyst

                                                                                  

Jay Zukanovic

CHICAGO, IL – KIG, Chicago’s leading commercial real estate brokerage firm specializing in institutional multifamily properties throughout the Midwest, has announced Jay Zukanovic, 29, has joined the firm as financial analyst.

Most recently Zukanovic was treasury manager for Chicago-based Amsted Industries Inc. Prior to that, he was senior analyst – global treasury for Chicago-based Wm. Wrigley Jr. Co.

“Zukanovic’s background in treasury expands the depth of services offered to KIG clients,” said Susan Tjarksen, principal and managing broker at KIG. 

“He is in the process of creating financial models for us. Coming from outside the real estate industry, his view on creating and developing proformas is really going to continue to set us apart from our competition.”

Susan Tjarksen

In his most recent position at Amsted Industries, Zukanovic managed internal valuation models ensuring the integrity of Amsted’s assigned stock price by a third-party financial advisor. 

He also constructed a multi-variable forecasting model to predict share redemption behavior by back-testing idiosyncratic and external market indicators through statistical analysis.

“I have been seeking an opportunity to be part of building a company from the ground up,” Zukanovic said. 

“KIG’s extensive use of market intelligence resonates with my skill set of researching valuation trends. This information will give institutional investors a huge edge in their decision-making process.”

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

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

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

Jordan Wean Wins NAIOP’s 2014 Rookie of the Year Award for Central Florida

Jordan Wean

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Jordan Wean of the firm’s Orlando office has won NAIOP’s 2014 Rookie of The Year award for Central Florida.

“Jordan demonstrates a high level of professionalism and we are proud of his accomplishment as NAIOP’s Rookie of the Year,” says Alan L. Pontius, senior vice president, Commercial Property Groups, Marcus & Millichap.

“His work ethic and dedication to clients are prime examples of the level of professionalism that we are fortunate to attract and are actively cultivating as we continue building Marcus & Millichap’s National Office and Industrial Properties Group.”   

     

“We are very proud to congratulate Jordan on winning NAIOP’s Rookie of the Year award for Central Florida,” says Justin West, regional manager of Marcus & Millichap’s Orlando office. 

“The award recognizes Jordan for his unwavering commitment to serving commercial real estate investors and his dedication to supporting the Central Florida investment real estate community.”

Alan L. Pontius

                Wean began his career with Marcus & Millichap in August 2013. He specializes in the acquisition, disposition, and exchange of investment-grade office and industrial properties throughout Central Florida.

 Prior to joining Marcus & Millichap, Wean was a commercial advisor with The Bywater Co. in Orlando. 

He is a graduate of the University of Central Florida and holds a B.S.B.A. degree in finance and a B.S.B.A. degree in real estate, achieving magna cum laude in both.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Medical Office Building Changes Hands in Dallas, TX

Ron Hebert

 DALLAS, TX, May 7, 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 Northpoint Medical Arts, a 116,875-square-foot multi-tenant medical office building in Dallas. 

The terms of the sale were not released.

            Ron Hebert, vice president investments in Marcus & Millichap’s Dallas office, represented the seller, Q Northpoint LP. The buyer, Gregory Interests LLC, was represented and procured by Trinity Interests, a Dallas-based commercial property management firm.

“This medical office real estate investment asset serves the growing North Dallas patient base and provides the surrounding physician communities with a conveniently located medical office option,” says Hebert.

            The facility is located at 12606 Greenville Ave. in Dallas at Interstate 635 and Greenville Avenue near Central Expressway within a five-mile radius of four major hospitals: Texas Health Resources’ Presbyterian Dallas, Baylor Garland, Medical City of Dallas and Baylor Dallas.

The two-story Northpoint Medical Arts building was built on approximately five acres in 1979. Tenants include Concorde Career College, Northpoint Pediatrics, Preston Village Pharmacy, ROSA of North Dallas LLC, Texas Health Recourses, University of Texas Southwest Medical Center and Vivere Health Dallas LLC.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Ackerman & Co. Represents Sterling Organization in Roswell, Ga. Shopping Center Acquisition

Sean W. Patrick

Atlanta, GA – Sean W. Patrick, CCIM, vice president of investment sales at Ackerman & Co., recently brokered the purchase of an 81,829-square-foot shopping center in Roswell, Ga. for $8,630,000 on behalf of Sterling Organization, a private equity real estate investment firm headquartered in Palm Beach, Fla.

The 55-percent-occupied neighborhood shopping center is located at the northwest corner of Holcomb Bridge Road and Holcomb Woods Parkway in Roswell, just 20 miles north of downtown Atlanta. It is anchored by Office Depot and shadow anchored by a 102,000-square-foot Home Depot.

“This acquisition represents our second purchase in Roswell and our third in the Atlanta MSA in the past 10 months,” said Brian Kosoy, Managing Principal, President and CEO of Sterling Organization. 

The off-market property was purchased via the Sterling Value Add Partners II, LP fund and represented by Sean W. Patrick. The seller, GE Credit Equities, Inc., was represented by Crossman Company.

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

NAI Realvest Negotiates Three Leases totaling 4,680 Square Feet at Poinciana CommerCenter in Kissimmee, FL

Kristen Kemp

KISSIMMEE, Fla. – NAI Realvest recently completed three long term industrial leases at Poinciana CommerCenter East on Business Center Lane in Kissimmee representing the landlord, Small Bay Partners, LLC of Maitland.  

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp negotiated a new lease of 1,620 square feet at 1723 Business Center Lane. 

Tenant Omnicrete International Inc., the marketing organization for a patented sustainable wall system, was represented in the transaction by Fabiola Lozano of Central Realty Group & Properties

Heidrich and Kemp also brokered a new lease of 1,350 square at 1755 Business Center Lane where the new tenant is El Domi Banshee and Auto Repair.

Heidrich also completed renewal lease agreement with DRM Industrial Fabrics LLC, a manufacturer of industrial textile products who occupies the 1,890 square feet at 1777 Business Center Lane in Poinciana CommerCenter East.

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

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