Lincoln Brokers 16 Office Leases Totaling More Than 153,000 Square Feet in Northeast Atlanta

  

Matt Davis

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered 16 office leases in Northeast Atlanta totaling 153,427 square feet. Matt Davis and Hunter Henritze of Lincoln represented the landlord, Equity Office, in the transactions.

Six of the larger transactions include:

  

·      Brightree signed a 5,356-square-foot lease expansion at Huntcrest III, located at 1735 N. Brown Road in Lawrenceville, Georgia. Bruce May of Piedmont Property represented the tenant. The company now leases a total of 41,447 square feet.

  

·      Arris signed a 26,270-square-foot lease renewal at Huntcrest II, located at 1745 N. Brown Road in Lawrenceville. Mark Daughtry of Johnson Controls represented the tenant.

  

·      AmerisBank signed a new 8,932-square-foot lease at Sugarloaf V, located at 3090 Premiere Parkway in Duluth, Georgia. Ryan Cone of Cone Middour Partners represented the tenant.

  

·      Eclipse Web Media signed a new 6,567-square-foot lease at Crestwood II, located at 3885 Crestwood Parkway in Duluth. Michael Tucker and Mike Davis of Scotland Wright Associates represented the tenant.

Hunter Henritze

·      CoreStates signed a 7,095-square-foot lease at Sugarloaf II, located at 3039 Premiere Parkway in Duluth. Rob Binion of Lavista Associates represented the tenant in the transaction.

·      United Technology Group signed a long-term lease for 12,970 square feet at Sugarloaf V. Bill Leonard of WM Leonard & Associates represented the tenant in the transaction.

“With the economy continuing to improve and jobs coming back, we anticipate that office leasing will remain steady through the remainder of the year, especially in suburban markets,” Henritze said.

 

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

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Berger Commercial Realty Retained as Sales Agent of Lauderdale Marketplace in Lauderdale Lakes, FL

  

Lauderdale Marketplace, Oakland Park Boulevard and State Road 7
Lauderdale Lakes, FL

FORT LAUDERDALE, FL – Berger Commercial Realty has been retained as the exclusive agent for the sale of Lauderdale Marketplace, a three-building retail property in Lauderdale Lakes listed for $32 million.

Joseph Byrnes

Owned by Lauderdale Marketplace Investments, LLC, notable tenants include Broward Health, YouFit Health Club, Humana, Davita Dialysis, Papa John’s, the Broward Sheriff's Office, the Department of Veteran Affairs, and the Department of Highway Safety and Motor Vehicles. The property is 87 percent leased.

"Stability is a key feature of this property with most tenants on long-term leases," said Berger Commercial Realty Vice President Joseph Byrnes, who has served as the property's exclusive leasing agent for years.

 "The property's functional and versatile building design, abundant parking, and convenient, central location have created a history of stable occupancy and quality tenants over the years."

Lauderdale Marketplace is located on almost 30 acres of land on the southeast corner of Oakland Park Boulevard and State Road 7, a short distance from I-95 and Florida's Turnpike. It was originally built in 1986 and 1987.

"In addition to its stable tenant mix, Lauderdale Marketplace also provides an excellent long-term opportunity to redevelop the entire site as a multi-purpose city center," Byrnes added. "The areas of central and western Broward County are experiencing a boom right now, and Lauderdale Marketplace offers a prime location for further growth."

For more information about Lauderdale Marketplace, call 954-358-0900 or visit www.BergerCommercial.com.

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

Pierson Grant Public Relations

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Increased Common Dividend Declared By National Retail Properties, Inc.; Marks 26th Consecutive Annual Dividend Increase

ORLANDO, FL /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend of 43.5 cents per share payable August 14, 2015 to common shareholders of record on July 31, 2015.

 This declaration increases the annual dividend paid by National Retail Properties for the twenty-sixth consecutive year.  

National Retail Properties is one of only four publicly traded REITs and 99 publicly traded companies in America to have increased annual dividends for 25 or more consecutive years.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

 As of March 31, 2015, the company owned 2,104 properties in 47 states with a gross leasable area of approximately 23.1 million square feet and a weighted average remaining lease term of 11.5 years.

 For more information on the company, visit www.nnnreit.com.

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

investorrelations@nnnreit.com

$47.75 million sale of 135-unit multi-housing property in Portland’s Alphabet District closed by HFF

The Cordelia Building, 777 NW 19th Avenue, Alphabet District, Portland, OR

PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $47.75 million sale of The Cordelia, a 135-unit, two-building multi-housing property in Portland’s Alphabet District.

Ira Virden

HFF marketed the asset on behalf of Mill Creek Residential Trust and its capital partner. 

The Cordelia is located at 777 NW 19th Avenue between Portland’s Pearl District and the NW 23rd Avenue retail corridor. 

The transit-oriented asset is situated two blocks from a Portland streetcar stop, less than one half of a mile from Interstate 405 and provides access to multiple retail, dining and entertainment options within walking/biking distance.

 Completed in 2014, the LEED Gold property has studio, one- and two-bedroom units averaging 667 square feet each.  Property amenities include a common area with kitchen and theatre lounge, bike storage and repair station, dog wash and grooming station, 24-hour fitness center, outdoor barbecue and picnic area and a 62-space subterranean parking garage.

The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.

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 secures financing for Holiday Inn Express & Suites in downtown Naples, FL

Holiday Inn Express & Suites Naples Downtown - 5th Avenue, Naples, FL

ORLANDO, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured first mortgage financing for the Holiday Inn Express & Suites Naples Downtown - 5th Avenue, a 124-room, select-service hotel in downtown Naples, Florida.

Michael Weinberg

HFF worked on behalf of the borrower, Palm Holdings, to place the seven-year, floating-rate loan with BankUnited.  Loan proceeds will be used to refinance existing debt and acquire additional hotels in Florida.  

The Holiday Inn Express & Suites Naples Downtown - 5th Avenue is located at 1785 Fifth Avenue South in central Naples, a southwestern Florida city nicknamed the “Paradise Coast” due to its 10 miles of beaches and reputation as a luxury destination.

 The only mid-market branded hotel on 5th Avenue out of the Marriott, Starwood, IHG and Hilton brands, the asset is within walking distance to a variety of boutiques, art galleries and restaurants in addition to being 2.3 miles from the Naples Pier and Gulf of Mexico beaches.

 Renovated and rebranded as a Holiday Inn Express & Suites in 2013, the four-story hotel has views of the Gordon River and Rock Creek’s canal.  Amenities include a heated outdoor pool with large deck area for sunbathing and hot tub, 24-hour business center, fitness center, 1,530 square feet of meeting space and complimentary breakfast.

The HFF debt placement team representing the borrower was led by director Michael Weinberg and associate director Scott Wadler. 

“Palm Holdings did an excellent job acquiring a well-located asset, investing the capital necessary and converting the hotel from an independent to a powerful brand,” Weinberg said.  “They ramped up performance quickly, and we able to place permanent debt at very attractive terms.”

Scott Wadler

“Lenders were attracted to the hotel’s prime location at the gateway to downtown Naples, the continued strength of the Naples lodging market and the departure of market seasonality,” Wadler added.

HFF’s Hotel Group has had particular success in closing resort transactions along Florida’s Gulf Coast, including the $185 million sale of La Playa Beach Resort in May and sales of the Waldorf Astoria Naples (now Naples Grande Resort) and the Hilton Clearwater Beach Resort. 

In May, the firm also closed the sale of the Mercato, a 456,359-square-foot, mixed-use retail lifestyle center in Naples.

 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.palm-holdings.com.

HFF secures $10 million refinancing for boutique hotel in San Francisco’s Pacific Heights neighborhood

Laurel Inn, Pacific Heights Neighborhood, San Francisco, CA

SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $10 million in refinancing for the Laurel Inn, a 49-room, boutique hotel located in the Pacific Heights neighborhood of San Francisco, California.

HFF worked on behalf of the borrower, Laurel SPE, LLC, to secure the 10-year, fixed-rate loan through Boston Private Bank & Trust.  

Loan proceeds will be used to refinance an existing loan and for renovations of the asset. 

The Laurel Inn is located at 444 Presidio Avenue in Pacific Heights, a well-known, affluent neighborhood known for its large residences in northern San Francisco and proximate to the Presidio, Golden State Park, the Marina District and Fisherman’s Wharf.

 Situated at the intersection of California and Presidio Avenues, the hotel is within walking distance to the shops and restaurants located on Fillmore Street. 

The Laurel Inn features Swank Cocktail Bar & Lounge; lemonade and cookies served in the lobby each afternoon; all-day lobby coffee and tea service; a movie library; 24-hour business center with both PC and Mac platforms and Blu-ray players in every room. 

Holden Lim

The hotel has a partnership with the San Francisco Jewish Community Center (JCC) directly across the street to allow guests to use JCC fitness facilities.  

The HFF debt placement team representing the borrower was led by managing director Holden Lim and senior managing director Bruce Ganong.

“Due to the high quality, excellent location and strong performance of the Laurel Inn, numerous lenders were very interested in lending on the hotel,” Lim said. 

“The upcoming renovation will improve its star rating and enhance the overall competitiveness of the hotel.”

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

HFF hires Nick Kassab as director in its Portland, OR office

  

Nick Kassab

PORTLAND, OR –  Holliday Fenoglio Fowler, L.P. (HFF) announced Nick Kassab has joined its Portland office as a director focused on office and retail investment sale transactions in Portland, Oregon and the greater Pacific Northwest region.

Mr. Kassab has eight years of experience in commercial real estate and joins HFF from Capacity Commercial Group, LLC where he was a vice president.  In this role, he closed nearly $200 million in office and retail investment sale transactions.

 Mr. Kassab is a member of the Commercial Association of Brokers and the Portland Business Alliance – Central City Standing Committee, and is a licensed broker in both Oregon and Washington. 

Nick holds masters degrees in business administration and real estate and construction management from the University of Denver and a bachelor of science degree in economics from the University of Oregon.

Other achievements include winning the Commercial Association of Brokers “Investment Broker of the Year Award” in 2014 for the State of Oregon. 

Michael Leggett

“Nick brings with him a stellar track record of closed deals and great relationships with many of the major players in the Pacific Northwest market, which will greatly benefit HFF’s clients and our West Coast investment sales platform moving forward. 

“We’re excited to have him on board,” said Michael Leggett, a senior managing director in HFF’s San Francisco office who also oversees the Portland team.

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