Berger Commercial Realty Brokers Close Four Lease Transactions Totaling More Than 40,000 Square-Feet Throughout Broward County in South Florida

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Judy Dolan, Keith Graves, Greg Milopoulos and Jonathan Thiel recently closed four lease transactions totaling 41,245 square-feet of space throughout Broward County.

Graves and Milopoulos represented Prologis in renewing and expanding a lease for 22,610 square-feet of industrial space to Encompass Supply Chain Solutions, Inc. at Prologis I-595. 

Encompass Supply Chain Solutions will occupy suites 11 and 12 in the 79,418-square-foot building located at 7060 W. State Road 84 in Davie.

Built in 2000, Prologis I-595 offers leases for industrial, warehouse, manufacturing, distribution, storage and office spaces. 

The multi-purpose building features 22-foot ceiling heights, heavy three-phase electrical and convenient access to I-595, I-95, Florida's Turnpike, Port Everglades and Fort Lauderdale International Airport.

Greg Milopoulos

Graves also represented 6500 NW 15th Avenue, LLC in the new lease of 10,000 square-feet of flex space to Guardian Guel Technologies, Inc. at the Gateway Industrial Center. 

Located at 6500 N.W. 15th Ave. in Fort Lauderdale, the 28,270-square-foot building offers industrial, manufacturing and flex space and features grade-level dock loading, 19-foot ceiling heights, three-phase power, building signage and ample parking. 

Gateway Industrial Center is centrally located in Broward County and provides convenient access to Florida's Turnpike, I-595 and Fort Lauderdale International Airport.

Additionally, Graves represented Walton, Lantaff, Schroeder & Carson, LLP in renewing and extending a lease for 6,755 square-feet of office space from Crocker Partners, LLC at Corporate Center in Fort Lauderdale.  Located at 110 E. Broward Blvd., the 24-story class A office building consists of 342,686 square-feet of space in the heart of downtown Fort Lauderdale.

Dolan, Graves and Thiel represented CoFe Fund 1-Plantation, LLC for the expansion lease of 1,880 square-feet of office space to BrightStar Credit Union at 1700 N.W. 66th Ave. in Plantation Technology Park. The campus-style office park is located in central Broward County just west of Florida's Turnpike, east of University Drive and north of Sunrise Boulevard.              

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

954-776-1999

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

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

The Dow Hotel Co. Ramps up Acquisition Program; Greg Denton Joins as Senior Vice President of Hotel Investments

Gregory Denton

SEATTLE, WA, Oct. 5, 2015—Officials of The Dow Hotel Company (DHC), a leading national hotel owner/investor and operator, today announced that it is aggressively ramping up its acquisition program and that hotel industry veteran Greg Denton has joined the company as senior vice president of hotel investments. 

He will be responsible for sourcing acquisitions, structuring financing, investor relations and asset management.

With nearly three decades of hotel experience, Denton has acquired, developed and asset managed more than $6 billion in hotel real estate.  His background includes senior positions with The Related Group of Florida, Gencom Group, CNL Hospitality and White Lodging Services.

 He holds both a Bachelor of Science and Master of Science Degree from the Cornell School of Hotel Administration.  Denton is a frequent speaker and author on hotel asset management and hotel investment.

“We have been both an active buyer and seller of hotels the past year and continue to see significant opportunities to acquire and add value to hotel real estate,” said Murray L. Dow II, DHC founder and president.

 “Greg brings the full range of hotel investment expertise and adds considerably to our bench strength.  There are still quality risk/reward acquisition opportunities, especially for properties that can benefit from renovation, repositioning and strong management, which are our core strengths.”

Dow noted that the company seeks full-service hotels and resorts in primary, secondary and selected tertiary markets.  DHC has in-depth experience and relationships with all the premium hotel brand families, as well as with independent boutique and life-style hotels and resorts.

  

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

Chris Daly

Phone:  (703) 435-6293

Chris@dalygray.com

             

Chatham Lodging Adds Hilton Garden Inn Hotel in Highly Sought-After Marina del Rey, CA

Hilton Garden Inn Marina del Rey, CA

Jeffrey H. Fisher

 PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, announced that it has acquired the 134-room Hilton Garden Inn Marina del Rey in Ca. for $44.5 million, or approximately $332,000 per room.   

“This property, located in the heart of the scenic Marina del Rey Harbor/Marina Beach area, adds another irreplaceable jewel to our portfolio,” said Jeffrey H. Fisher, Chatham’s chief executive officer and president.

 “The hotel is in the heart of the rapidly growing technology hub referred to as Silicon Beach, a five-mile stretch between Santa Monica and Playa Vista where technology stalwarts such as Google, Microsoft, Yahoo, YouTube, Sony, Belkin and Facebook have or are expected to establish a meaningful presence.

“Marina del Rey is an extremely high barrier-to-entry market,” he noted.  “This was a complex transaction where we called upon all of our acquisition expertise, including  a five-month ground lease and loan assumption negotiation.  

“We have acquired approximately $190 million of premium-branded, high-quality, in-fill hotels through non-marketed transactions in 2015, increasing our hotel investments by approximately 16 percent and expanding our wholly owned portfolio room count by 11 percent. 

The Hilton Garden Inn Marina del Rey hotel converted from an independent hotel in June 2013 after an extensive renovation and received the “Best Conversion Award” by Hilton in 2014. The property will only require minimal brand-mandated updates in the near-term and will require no major capital investment until 2020. 

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

Chris Daly    

Daly Gray Public Relations                                                   

chris@dalygray.com

(703) 435-6293                                                                           

                                                                           

www.chathamlodgingtrust.com.

Lincoln Property Co. Leases 552,330 SF to Distribution User in Phoenix, AZ; Brings Southwest Valley industrial building to 100 percent occupied

7037 West Van Buren Street, Phoenix, AZ

Marc Hertzberg

PHOENIX, AZ – Investment, development, leasing and management expert Lincoln Property Company (LPC) has completed a 552,330-square-foot lease that will fully occupy a Phoenix industrial building and bring approximately 200 new jobs to the Southwest Valley.

The undisclosed distribution user will move into its new space in October and will fully occupy the project, located 7037 W. Van Buren Street in Phoenix. It will use the building to service a major requirement from a distribution-centric Fortune 50 company. It will also hire approximately 200 employees.

JLL Managing Directors Marc Hertzberg and Anthony Lydon represented LPC. Tom Louer of Lee & Associates represented the tenant.

“This lease is a great example of a positive Arizona industrial market,” said Hertzberg. “This user chose Phoenix after a multi-market search that included Northern and Southern California. 

"It then chose this building, in particular, from among a very competitive local inventory that includes five or six newly constructed, nearby alternatives.”

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

New Castle to Transform New Orleans Hotel to Downtown’s First Fairfield Inn and Suites

  

Gerry Chase

SHELTON, CT —Officials of New Castle Hotels & Resorts, a leading hotel owner, operator and developer, announced the closure of Baronne Inn and Suites in downtown New Orleans ahead of a $10 million, eight-month total transformation to convert the historic building to a Fairfield Inn and Suites.  The hotel expects to reopen in spring, 2016.

Located at 346 Baronne St., in the central business district and just one block off Bourbon St., the Fairfield Inn and Suites New Orleans Downtown/French Quarter Area will mark the brand’s debut in the Big Easy.

 The all-suite hotel will feature 103 guest suites, a full bar outfitted to emphasize the hotel’s one-of-a-kind destination, and will offer complimentary breakfast and WiFi; everything a guest needs for a comfortable and productive stay at a great value.

"Reinvention has been New Orleans’ calling card since Hurricane Katrina, and the results, including renovated and upgraded hotels, 600 more restaurants and entertainment venues, clearly appeal to the record 9.5 million guests who visited last year,” said Gerry Chase, president and COO of New Castle Hotels & Resorts.

 “We feel very confident that an urban Fairfield Inn and Suites product will be very attractive to both business travelers attending conferences and conventions at the Morial Center and value-minded leisure travelers who want their vacation dollar to go a little further.” 

The Fairfield Inn and Suites New Orleans is within walking distance of the Mercedes-Benz Superdome, the Morial Convention Center and Harrah's New Orleans Casino, as well as the city's famed French Quarter.  The Port of Orleans, one of the busiest cruise terminals in the U.S. and Louis Armstrong International Airport both are minutes away.  

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

Lauralee Dobbins

Write Touch Public Relations

609-451-5102

Lauralee@writetouchPR.com

www.newcastlehotels.com.

Taylor & Mathis of Florida Executes Largest New Office Deal in Airport West/Doral Market in metro Miami, FL

9250 Doral at 9250 NW 36th Street, Doral, FL

MIAMI, FL – Univision, an American Spanish language broadcast television network, has signed the largest new office lease this year in the Airport West/Doral market.  

The firm leased 40,000 square feet at 9250 Doral located at 9250 N.W. 36th Street.

  The 12-year, $14 million deal was brokered by Brian Gale and Andrew Trench of Taylor & Mathis representing the owner Delma and co-brokers Mitchell Millowitz and Lance Benson of Newmark Grubb Knight Frank representing Univision.  Univision, who owns and fully occupies a building right across the street, is expanding their offices to 9250 Doral.

Brian Gale

Just two years ago 9250 Doral, an outdated 1980s office building was completely vacant.  Taylor & Mathis of Florida has successfully overseen the building’s turnaround filling 88% of the office space in four deals valued at $33 million, since the building’s conversion and multi-million dollar renovation.

 In that time 145,000 square feet of leases have been completed with Univision; Prestige Health Choice leasing 50,000 square feet; West Coast University 45,000 square feet; and Tracfone 10,000 square feet.

The former single tenant building recently underwent a multimillion dollar renovation by owner Delma Properties to convert the property to a multi-tenant office building.  The quality of the new interior finishes makes it feel like a brand new building.  It has great ceiling height and an excellent window line.

  Two years ago, 9250 Doral’s single tenant occupant, Amadeus North America, moved out and the building became 100% vacant.  Delma Properties took the Class B building and gave it a modern, Class A renovation.

 “Tenants are getting a great value,” said Gale. “They love the modern renovation, the Doral location and the building’s large 50,000 square foot floor plates.”

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

Brian Gale, Taylor & Mathis

bgale@taylormathis.com

(305)476-8880

www.TaylorMathis.com.

www.delmaproperties.com