Wednesday, March 20, 2019

HFF announces $25.5 million financing for acquisition of New York-area power center



Woodbridge Crossing Power Center, Woodbridge, NJ

MORRISTOWN, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $25.5 million in acquisition financing for Woodbridge Crossing, a 285,2110-square-foot power center located in the central New Jersey community of Woodbridge, New Jersey.

The HFF team worked on behalf of the borrower, PAG Investments, to place the five-year, fixed-rate loan with Citizens Bank. 

Michael Klein
Woodbridge Crossing was completed in 2001 and recently renovated in 2018.  Nearly 80 percent leased, the center is home to a variety of national and regional tenants, including Burlington Stores, Big Lots, Planet Fitness, Altitude Trampoline Park, Modell’s, Party City, Thomasville, Sprint, Miracle Ear and FedEx Office. 

 Situated on 19.09 acres at 451-479 Green Street in one of New Jersey’s prime retail corridors, Woodbridge Crossing is in the North Edison/Woodbridge Retail submarket adjacent to the intersection of U.S. Routes 1 and 9, exposing the center to approximately 85,000 vehicles per day. 

The center is in Middlesex County, the second most populated county in the state, and more than 136,700 residents earning an average annual household income of $93,207 live within a three-mile radius of the center.

The HFF debt placement team representing the borrower included managing director Michael Klein and managing director Rob Hinckley.

Rob Hinckley
“HFF is pleased to have helped PAG Investments secure financing once again,” Klein said.  “PAG had a unique opportunity to acquire a value-add retail center in one of the state’s primary retail corridors.  

"In a short time, PAG Investments will be able to execute its business plan and stabilize the center.” 

Citizens’ Commercial Real Estate team provides project finance loans across various strategies and is focused on building long-term relationships with strong commercial real estate sponsors. 

Citizens provides loans for multifamily, office, retail, industrial and hospitality properties, lends on acquisition and refinancing opportunities, development, stabilized and value-add strategies and on bridge and term basis.

 More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
  
CONTACTS:

MICHAEL KLEIN
HFF Managing Director
(973) 549-2000
mklein@hfflp.com

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
ksteele@hfflp.com

Posted by Alex at 7:23 PM 0 comments
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Marcus & Millichap Brokers $7 Million Land Sale in Lakeland, FL


Paul Bouldin
LAKELAND, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Lakeland Plant Property, 26.03-acres of industrial land located in Lakeland, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $7,000,000.

Paul Bouldin, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

Lakeland Plant Property is located at 4500 Frontage Road South in Lakeland, Fla and is situated by I-4 and Polk Parkway.  The property offers convenient access to both Tampa and Orlando, Fla.

Contact:

Grant Fitzgerald
Regional Manager
 Tampa, FL
(813) 387-4700


Posted by Alex at 7:06 PM 0 comments
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HFF arranges $21 million refinancing for prime mixed-use downtown San Mateo, CA property


Chris Gandy

SAN FRANCISCO, CA  -– HFF announces that it has arranged a $21 million refinancing for Baywood, a 27,897-square-foot, Class A+ creative office and retail asset in downtown San Mateo, California.

HFF worked on behalf of the borrower, developURBAN, a private developer, to arrange the 10-year, fixed-rate, full-term, interest-only loan with Citigroup.  

Loan proceeds will be used to refinance the existing debt HFF arranged in 2017 that was used to reposition and transform the former Class B property into a best-in-class, Class A+ mixed-use building.  

Improvements included a transformative façade remodel; a new third-floor addition, elevator and office lobby; and the creation of multiple outdoor patios, among other significant improvements.  

Fully leased, Baywood is home to the technology arm of a publicly listed company, with the ground-floor office space leased to a data analytics firm and the retail space leased to the nation’s largest yoga chain.  

Taylor Gimian
Baywood is an adaptive re-use of a 1930s-era movie theater repurposed as a best-in-class creative office.  

Baywood, which is currently undergoing LEED certification, boasts tremendous natural light through a new modern façade, a more-than-30-foot-high living wall, numerous indoor/outdoor patios, secured bike parking and 25-foot ceiling heights.  

Situated on 0.2 acres at 333-345 S. B Street, the property is less than three blocks from the San Mateo Caltrain station and is surrounded by downtown San Mateo’s retail, dining and entertainment amenities.

The HFF debt placement team representing the borrower consisted of senior director Chris Gandy and analyst Taylor Gimian.

“The sponsor has done a tremendous job repositioning the property, as evidenced by the strong tenant demand for the building and ability to achieve some of the highest rents seen in the downtown sub-market,” Gandy said.  "The property's proximity to a baby bullet CalTrain station and to the abundant retail amenities offered in downtown are irreplaceable." 

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.


CONTACTS:

CHRIS GANDY
CA Lic. #01899208
HFF Senior Director
(415) 276-6300
cgandy@hfflp.com

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
ksteele@hfflp.com

Posted by Alex at 6:49 PM 0 comments
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Skye Suites to open in Green Square's Most Iconic Building in Sydney, Australia


Skye Suites, Green Square, Botany Road and Bourke Street
 Sydney, Australia
Sydney, Australia, Mar. 20, 2019 --  Crown Group will open its third luxury serviced apartment hotel, SKYE Suites Green Square, mid-year as part of the iconic $575 million development Infinity by Crown Group, which is shaping up to be Sydney’s most sought-after place to live, play and stay.
 Designed by globally renowned Koichi Takada Architects, Infinity by Crown Group will have 326 premium apartments, a convention centre, a new retail and dining precinct with 20 outlets, a beautiful 90-room hotel called SKYE Suites Green Square and a Woolworths supermarket nearby.

The 20-storey building has captured the public’s attention with its iconic looped design, situated on the corner of Botany Road and Bourke Street. 

Skye Suites exterior

The development forms part of the $13 billion Green Square redevelopment that has transformed the town centre into an exciting new destination and will add a new train station and aquatic centre.

 There is also the stunning public library that opened last year, where hotel guests can enjoy co-working or studying in the light-filled below-ground atrium.

Hotel guests will enjoy direct access to Green Square train station and being just one stop from the city, and only a few minutes’ drive from Sydney airport.

SKYE Suites Green Square will enjoy 90 luxurious studio, one- and two-bedroom apartments with Kevin Murphy toiletries, complimentary mini-bar and the ability to choose individual mattress firmness on each side of the bed. 

Skye Suites poolside

There will also be keyless entry and ‘virtual concierge’ tablets in every suite for guests to access all hotel services. A STARCast system will enable guests to stream in-room entertainment from personal devices.

Crown Group Director of Hotels and Suites Wayne Taranto said SKYE Suites were renowned for being situated in new buildings with iconic architecture, sophisticated interiors and for delivering bespoke service with attention to detail.

“At SKYE Suites, we endeavour to differentiate ourselves by offering creative and inspirational spaces to our guests, making their stay comfortable, enjoyable and memorable,” he said.

Wayne Taranto
“SKYE Suites is redefining the boundaries of the luxury hotel experience with the seamless combination of the atmosphere of an urban resort, the convenience and comfort of an apartment and the amenities of a hotel.”

The first SKYE Suites opened in August 2017 at Parramatta, with 72 stylish hotel apartments offering Crown Group’s signature resort facilities including an outdoor pool, gym and expansive foyer. 

It also has conference rooms, vibrant alfresco dining, retail piazza and the chic rooftop cocktail bar Nick and Nora’s by Speakeasy Group. The hotel is situated within the award-winning V by Crown Group residential tower, designed by Allen Jack + Cottier and Koichi Takada Architects.

Koichi Takada
The second SKYE Suites opened in Sydney in November 2018, a beautiful new destination in an iconic building on Clarence Street, Sydney.

 The hotel offers a luxury experience in the heart of the city, within the 25-storey residential apartment tower Arc by Crown Group, also designed by Koichi Takada Architects. SKYE Suites Sydney has 73 well-appointed hotel apartments and features an ice cave-themed lobby, “Insta-worthy” indoor swimming pool and a gym. 




Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in 1996.
Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 25-storey Arc by Crown Group in Sydney CBD.
Crown Group launched its first SKYE Hotel Suites in Parramatta in August 2017 and SKYE Suites Sydney in October 2018.

 CONTACT:

Hwee Peng Yeo
Executive Vice President
Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai
Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190
Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021

131 Varick Street, Suite 1001 • New York, NY • 10013
1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111
US:415.394.6500 • Asia: 65.9768.6087 •  E: hweepeng@glodownead.com
www.GlodowNead.com

杨慧萍
执行副总裁
博德纳公关咨询公司
Centennial Tower 21层，Temasek Avenue 3号， 新加坡邮区039190
上海湖滨路222号企业天地一号15层，中国邮编20021
E: hweepeng@glodownead.com
www.GlodowNead.com

 www.crowngroup.com.au/industry-recognition/
www.crowngroup.com.au


For more information and to book a stay, please visit http://www.skyehotels.com.au or contact us by email: info@skyehotels.com.au.


Images & video
https://www.dropbox.com/sh/wmwfnpyf4k1zrvt/AAAlRvooSnx6Sa5nkV6V5N_Ga?dl=0


Posted by Alex at 3:21 PM 0 comments
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Proliant Names Daniel Wallace New Southeast Regional Manager


Daniel Wallace
Auburn Hills, MI -- Proliant Settlement Systems, LLC, is pleased to announce the appointment of Daniel Wallace in the position of Southeast Regional Manager. 

Established in Michigan in 2017, Proliant Settlement Systems is rapidly making a name for itself as a first-to-market title company franchise platform, and is in the process of expanding its operations throughout the U.S.

Tasked with marketing and business development in Florida and surrounding states, Wallace began working with the company last month from his base in Orlando.
Michael Strat, President at Proliant Settlement Systems, is delighted to make the announcement:
“Dan will prove to be a strong asset to the company. He brings with him years of knowledge and experience in the Title business, and is exceptionally well connected in the Florida area. His seasoned skills in networking, lead pursuance and sales will unquestionably assist Proliant in expanding the growth of franchise units across the country.”
Michael Strat
A graduate of the University of Central Florida, Wallace founded GulfAtlantic Title in 1987 and saw the company expand to 23 offices before selling the company to Lawyers Title Insurance Corporation in 1994. 
He enjoyed a 16 year career with Fidelity National Title Insurance Company (the nation’s largest family of Title Insurers) including the job of State Manager where he was responsible for all of that company’s Florida Operations, and then made a transition to Xpress Title Company LLC in 2017 as its President.
“I feel honored to join Proliant Settlement Systems as their Southeast Regional Manager,” says Wallace. “This is a company that’s well on its way to being recognized as the leading franchise brand in the title company space, and I’m proud to be a part of that. It’s exciting to be able to help entrepreneurs with such an efficient and progressive platform.”
About Proliant Settlement Systems, LLC
Proliant Settlement Systems, LLC is a turnkey franchise system that offers qualified entrepreneurs an opportunity to own their own title company. At present, the service is available in Florida and Michigan with expansion to other states throughout 2019.
For more information, visit the website at http://www.proliantsms.com.
Social:

Company Name: Proliant Settlement Systems, LLC
Contact Person: Michael Strat, President
Email: info@proliantsms.com
Phone: 248-484-4100
Address: 2100 Coe Ct
City: Auburn Hills
State: Michigan
Country: United States
Website: http://www.proliantsms.com


Posted by Alex at 2:03 PM 0 comments
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Graycor delivers Ten Distribution Center Phase I for Irwin G. Pasternack AIA + Associates in Phoenix, AZ


Todd Ostransky

PHOENIX, AZ – Graycor Construction Company has completed construction of Ten Distribution Center Phase I in Phoenix for Irwin G. Pasternack AIA + Associates PC. 

 The 1.1 million square-foot speculative industrial project is designed to meet skyrocketing demand in the Western U.S. for ultra-modern logistics and e-commerce space.

Irwin G. Pasternack
“Metro Phoenix offers high-volume distribution operators some of the most attractive logistics, employment and cost benefits available anywhere in the U.S.,” said property owner, architect and developer Irwin Pasternack. 

“Major corporations are relocating here to take advantage of these benefits, creating local jobs by the thousands. Ten was designed and delivered to meet this very significant – and sophisticated – demand.”

Anthony Lydon
Located at 8181 W. Roosevelt Street, along 83rd Avenue near the confluence of Interstate 10 and the Loop 101, Ten Distribution Center Phase I features a 40’ clear height ceiling, cross-dock framework and high-volume trailer capabilities – all imperative for companies who need to incorporate advanced material handling systems and accommodate substantial trailer activity.

“Ten Phase I sets a high benchmark for Phoenix industrial space,” said Todd Ostransky, Graycor Construction Company Vice President of the Southwest Division. “The building size alone is imposing, requiring 182 massive concrete panels to support the 40’ clear height that is so attractive to modern industrial users.”

Marc Hertzberg

At build-out, Ten Distribution Center will become the largest freeway-fronting industrial development in the Valley, totaling 215 acres and 3.6 million square feet of space in six Class A industrial buildings (ranging in size from 175,000 to 1.1 million square feet) and 15 retail, restaurant and service tenants fronting 83rd Avenue. Retail pad sites average 1 to 1.5 acres with custom lot sizes available. All pad sites have frontage to 83rd Avenue and direct connectivity to the I-10. For a look inside, view the project’s latest drone video.

Riley Gilbert

Retail and industrial tenants have the opportunity for high-visibility ground, freeway billboard and pylon signage, as well as off-premise signage. They also benefit from immediate access to 83rd Avenue with a signalized intersection for full turning maneuvers. Some properties will also have connectivity to Van Buren Street and 79th Avenue.

“The advantages that Ten Phase I offers have been well received, particularly among those in the growth markets of e-commerce, food and beverage, transportation and logistics,” said JLL Managing Director Anthony Lydon, who serves as the exclusive leasing broker for Ten Distribution Center along with JLL Managing Director Marc Hertzberg and Vice President Riley Gilbert.
The 1.1 million square-foot speculative industrial project in Phoenix, AZ is designed to meet skyrocketing demand in the Western U.S. for ultra-modern logistics and e-commerce space.

 “Demand from these types of users has been on the rise for four years in metro Phoenix, and we expect that trend to continue. That makes Ten Phase I the perfect building, built at the perfect time.”

Ten Phase I is Foreign Trade Zone capable, providing the opportunity for tenants to reduce their real estate property and equipment taxes by as much as 72 percent. It sits minutes from the I-10, Loop 101 and new 22-mile, $22 billion Loop 202 extension, which is scheduled to open in September 2019. This will place a strong labor pool of almost 2 million people within a 35-minute commute.

Graycor represents 98 years of building experience and employs more than 1,500 construction experts. Locally, the Graycor legacy extends over more than three decades, with a portfolio that includes Prologis Park Riverside, Liberty Logistics Center II, 10 West Logistics Center (Phase I awarded Best of NAIOP AZ Spec Industrial Project of the Year);
“The building size alone is imposing, requiring 182 massive concrete panels to support the 40’ clear height that is so attractive to modern industrial users.”

 Gilbert Spectrum Business Park, East Valley Commerce Center, Chandler Airport Center, Buckeye Logistics Center, Camelback Collective, JW Marriott Hotels & Resorts Camelback Inn Renovation, AMC Esplanade Fork and Screen Conversion, Salvation Army Southwest Divisional Headquarters and women’s shelter;

  FedEx Chandler Sorting and Distribution Center, Home Depot Distribution Center, Mountain Vista Medical Office Building, and Sunrise Assisted Living of Chandler. 

 Tenant improvement and interior deliveries include Davis at Hayden Ferry Lakeside, StitchFix.com, InEight Hard Dollar and Southland Engineering at Papago Buttes, which was named among the Top 10 Offices in Arizona by AZRE Magazine.


CONTACT:

Stacey Hershauer
focusAZ 

P 480.600.0195
Posted by Alex at 1:38 PM 0 comments
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