Crescent Communities Selects Charlotte, NC-based Collett To Lease Tryon Place Retail Space

Brian Leary

CHARLOTTE, N.C. — Crescent Communities announces a proven veteran will lead the retail leasing at Tryon Place, the company’s 27-story, mixed-use development located in downtown Charlotte. Crescent has selected Charles Thrift and Charlotte-based Collett to lease approximately 30,000 square feet of retail and restaurant space within the development.

 “While a high-rise building that will take its place amid Charlotte’s Uptown skyline, Tryon Place begins at the sidewalk,” said Brian Leary, president of commercial and mixed-use at Crescent Communities.

“Who we recruit and select to be at our front door and deliver Tryon Place’s first impressions is extremely important. With Charles and Collett’s legacy of success, we are confident they are the perfect teammate to lead these efforts on our behalf. With some of the best chefs in Charlotte, Charleston, Atlanta and Nashville already interested, we’re off to a great start.”

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

Tony Wilbert

The Wilbert Group

404.254.1487

twilbert@thewilbertgroup.com

$65 million financing for 3-property multi-housing portfolio in New Jersey and Delaware secured by HFF

Jon Mikula

FLORHAM PARK, NJ  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing totaling $65 million for a three-property, 974-unit multi-housing portfolio.  

The properties in the portfolio are: Brighton Arms and Tree Haven in New Jersey and Valley Run in Delaware.

HFF worked on behalf of the borrower, PRC Group, to secure fixed-rate financing for the portfolio in three separate transactions through Investors Bank.

Brighton Arms is located along West Sylvania Avenue near New Jersey Route 18 in Neptune City, New Jersey.  

The 20-building community was built in three phases and features 428 one- and two-bedroom units averaging 937 square feet each.

Tree Haven is a three-phase, two-story garden-style apartment community located in Matawan and Aberdeen, New Jersey. 

 Phase I and II are located at 130 and 120 Ravine Drive in Matawan and Phase III is located at 33 Aberdeen Road in Aberdeen.  

The property totals 24 buildings consisting of 268 one- and two-bedroom units ranging between 789 to 1,050 square feet.

Jim Cadranell

Valley Run is located at 2601 Carpenter Road in suburban Wilmington, Delaware, approximately 1.3 miles from Interstate 95.  

The garden-style community is comprised of 28 two- and three-story buildings that have 278 flat and townhome-style units averaging 955 square feet each.  

All of the properties include amenities such as outdoor swimming pools, tennis courts and large playgrounds.

The HFF debt placement team representing PRC Group was led by senior managing directors Jim Cadranell and Jon Mikula.

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 Mercato mixed-use retail lifestyle center in Naples, FL

Mercato Shopping Center, 9115 Strada Place, North Naples, FL

Kim Flores

MIAMI, FL– Holliday Fenoglio Fowler, L.P. (HFF) announced  it has closed the sale of Mercato, a 456,359-square-foot, mixed-use retail lifestyle center in Naples, Florida. 

HFF marketed the property on behalf of the seller, a partnership between Madison Marquette, Barron Collier Companies and The Lutgert Companies.          

   

Mercato is an upscale, pedestrian-friendly, mixed-use lifestyle center with 321,119 square feet of retail and 135,240 square feet of Class A office space.

 Built between 2007 and 2009, the project is comprised of 14 open-air buildings and 2,103 parking spaces with room for future development.  Mercato is the sole southwest Florida location of Whole Foods, the 12-screen Silverspot Cinema and Nordstrom Rack, which anchor the center.

 The center houses its national anchors in addition to other national and regional retailers including Sur La Table, Jos. A Bank, Tommy Bahama, Z-Gallerie, Sperry and Ulta Salon, and more than 17 restaurants, including The Capital Grille, McCormick & Schmick’s, Chipotle and Bravo! Cucina Italiana. 

Manuel de Zarraga

Free musical concerts, movies on the lawn, festivals and special events fill Mercato’s event schedule.  Situated on 41.65 acres at 9115 Strada Place in the heart of north Naples, the center is at the intersection of Tamiami Trail (U.S. 41) and Vanderbilt Beach Road. 

The HFF team representing the seller was led by senior managing director Daniel Finkle, executive managing director Manuel De Zárraga, managing director Luis Castillo and director analyst Kim Flores.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.lutgert.com.

www.barroncollier.com.

HFF closes sale of Orlando, FL power center

International Drive Value Center, 5295 International Drive, Orlando, FL

 

ORLANDO, FL, May 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of International Drive Value Center, a 185,704-square-foot, 98.2-percent-leased power center in Orlando, Florida.

Brad Peterson

HFF arranged the sale of the property on behalf of the seller, a partnership between Weingarten Realty Investors and an institutional partner. 

International Drive Value Center is anchored by multiple national and regional tenants, including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx, dd’s DISCOUNTS, Five Below and Dollar Tree.  The center spans 22.6 acres and is located at 5295 International Drive.  

The property is approximately six miles from downtown Orlando, 8.5 miles northeast of Walt Disney World® and less than one mile southeast from Universal Studios. 

The HFF investment sales team representing the seller was led senior managing director Brad Peterson, associate director Whitaker Leonhardt and real estate analysts Michael Brewster and Anthony Frogameni.

“International Drive Value Center is an iconic fixture on northern International Drive, which is one of the most recognizable and highly sought after entertainment and shopping destinations on the East Coast,” Peterson said.  

“Orlando’s booming tourism industry and overall economic health have had a profound effect on the success of shopping centers across Orlando’s tourist corridor, especially International Drive Value Center.” 

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.weingarten.com.

HFF closes $11.2 million sale of 3-building industrial portfolio in Washington state

  

West Valley Distribution Center, 72nd Avenue South and West Valley Highway
Seattle/Puget Sound Region, Washington State

PORTLAND, OR – May 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $11.2 million sale of a three-building light manufacturing, flex and distribution portfolio totaling 138,296 square feet in the Seattle/Puget Sound region of Washington state.

Nicholas Kucha

 HFF marketed the property on behalf of the seller, a partnership between ScanlanKemperBard Companies and funds managed by Oaktree Capital Management, L.P. (Oaktree).  Industrial Property Trust Inc. (IPT) purchased the assets.   

 Located in the northern part of Kent, the portfolio consists of buildings I, III and V in the West Valley Distribution Center located at 72nd Avenue South and West Valley Highway. 

West Valley I & V are 100 percent leased to a diverse group of tenants spanning the manufacturing, distribution and construction industries.  West Valley III is a flex facility that is currently vacant but has the potential be divided into five tenant spaces and have rail access.

 The HFF investment sales team representing the seller was led by managing director Nicholas Kucha and senior real estate analyst James Childress with co-broker Wilma Warshak of Washington Real Estate Advisors.

  

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Pangea Properties Named Winner of 2015 Good Neighbor Awards on Chicago’s South and West Sides for fourth consecutive year

Steve Joung

                                                                                              CHICAGO, IL – Chicago-based Pangea Properties is pleased to announce it has been named the recipient of three Good Neighbor Awards from the Chicago Association of REALTORS®, which recognizes outstanding rehabilitation and redevelopment efforts that contribute to the economic vitality of neighborhoods throughout Chicago and the greater metropolitan area.

This marks the fourth consecutive year Pangea has received the honor, reflecting the firm’s continued commitment to developing and preserving quality, workforce housing in some of Chicago’s most underserved communities.

“We believe that by investing in individual properties, many of which are board-ups, we can revitalize entire neighborhoods and make them a place Chicagoans are proud to call home,” said Steve Joung, CEO of Pangea Properties.

Chicago's South Loop District

“These awards are a testament to the tireless efforts of our team, which to date has rehabilitated more than 7,000 rental units throughout the Chicago area. 

"They also prove that each project matters, regardless of scale. One of our winning communities has just 13 units, showing how important even the smallest buildings can be in turning around a neighborhood.”

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

Abe Tekippe, atekippe@taylorjohnson.com  (312) 267-4528

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

Marcus & Millichap Promotes Hessam Nadji to Senior Executive Vice President

Hessam Nadji

CALABASAS, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Hessam Nadji has been promoted to senior executive vice president, according to John J. Kerin, chief executive officer and member of the firm’s board of directors.

        Mr. Nadji joined Marcus & Millichap in 1996 and currently serves as its chief strategy officer and senior vice president responsible for the firm’s specialty brokerage divisions as well as research, advisory services and marketing.

 He will now also be responsible for overseeing the firm’s mortgage brokerage operations, as well as certain corporate functions.

        “Hessam has been an integral member of our team during his successful 19-year tenure with the firm,” says Kerin. 

“He was instrumental in crafting our current strategy and growth plan.  Given his exceptional leadership track record, we believe he is the perfect choice to take on additional responsibilities as we continue to focus on growing our market share in our core private client business, specialty brokerage divisions and mortgage brokerage division, Marcus & Millichap Capital Corporation (MMCC). 

       Prior to joining Marcus & Millichap, Mr. Nadji was senior vice president at Grubb & Ellis. Mr. Nadji received a Bachelor of Science degree in information management and computer science from City University in Seattle.

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

Gina Relva

Public Relations Manager

(925) 953-1716