AEI Consultants Hires Randy Ward as Vice President Agency Services Walnut Creek, CA

Randy Ward

            Walnut Creek, CA -- AEI Consultants, a leading commercial real estate assessment and consulting firm, has announced that industry veteran Randy Ward has joined the firm as Vice President of Agency Services, coinciding with the increased demand for assessment and consulting services by Government Sponsored Enterprises (GSE) lenders such as Fannie Mae and Freddie Mac.

            “Randy Ward's expertise and skill set is perfectly aligned with our culture and strategy here at AEI,” says Paul Hinkston, Chief Operations Officer at AEI. 

Paul Hinkston

“We focus on providing our clients with the best consulting and service through the support of a motivated and talented team. With his extensive experience, Randy is a natural leader for our Agency Services group, and we are excited about the opportunity he brings to AEI and our customers.”

            Ward, a 30-year industry veteran, says: "AEI's commitment to a values-based culture, best-in-class service, and having the deepest bench in the industry provides tremendous opportunities for steady growth for our firm in the years ahead. I am pleased to join this strong and capable team."

            As Vice President of Agency Services, Ward will drive engagement and oversee a team of professionals who respond to agency lender requests for commercial real estate consulting services. 

 CONTACT:

Lisa James ·  Account Executive 
O 949 438 6262

Brower Group, Inc. The Smart Agency^® for Smart Clients who want Smart Work 
220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660

Email · Website · Facebook · Twitter · Instagram

www.aeiconsultants.com.

HFF arranges $400.6 million acquisition financing for 56-building industrial portfolio in Westchester County, NY and Fairfield County, CT

Jackie Ferrer

Mike Tepedino

NEW YORK, NY, April 12, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $400.6 million in acquisition financing for a 56-building light industrial portfolio totaling approximately 3.1 million square feet in Westchester County, New York, and Fairfield County, Connecticut.

HFF worked on behalf of the borrower, a joint venture partnership managed by Robert Martin Company, to place the floating-rate loan with Bank of America. 

The portfolio comprises three light industrial parks in Westchester County, including Cross Westchester Executive Park (CWEP), Mid-Westchester Executive Park (MWEP) and South Westchester Executive Park (SWEP), along with Stamford Executive Park (SEP) in Connecticut. 

Peter Lotchford

 The properties are positioned in the New York metro area with convenient access to major roadways, including Interstates 287 and 95, and the Saw Mill and Sprain Brook Parkways.

  Over the last 20 years, the portfolio has maintained consistent occupancy of over 90%, demonstrating the robust demand for light industrial space in the market. 

The portfolio will continue to benefit from increased industrial demand in markets that have notoriously difficult entitlement processes and extreme scarcities of developable land, limiting new supply.

The HFF debt placement team representing the borrower was led by executive managing director Mike Tepedino, senior director Peter Rotchford, director Scott Findlay and senior associate Jackie Ferrer.

“We were privileged to assist Robert Martin Company in the financing of its acquisition of these assets, which represent some of the best located industrial assets in Westchester and Fairfield Counties,” Tepedino said.

Scott Findlay

About Robert Martin Company, LLC

Headquartered in Elmsford, New York, Robert Martin Company, LLC (RMC) has been a leader in real estate investment, development and management for over 60 years.

Over the course of its distinguished history, RMC and its affiliates have developed and acquired over 20 million square feet of real estate across virtually every asset class.

CONTACTS:

MIKE TEPEDINO

NY Lic. #30TE0809731

HFF Senior Managing Director

(212) 245-2425

mtepedino@hfflp.com

PETER ROTCHFORD

NY Lic. #10401237887

HFF Senior Director

(212) 245-2425

protchford@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF hires Steve Forte as a senior director in its Philadelphia, PA office

Steve Forte

Rusty Tamlyn

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces  it has hired Steve Forte as a senior director focused on industrial investment advisory in the firm’s Philadelphia office. 

Mr. Forte will be a part of HFF’s national industrial investment advisory team led by executive managing director Jody Thornton and senior managing director Rusty Tamlyn.  He is a 13-plus year veteran of the commercial real estate industry and joins HFF from The Flynn Company, a regional full-service brokerage firm. 

 Mr. Forte has been named a CoStar Power Broker and holds a Bachelor of Business Administration from Temple University.

“Steve is an industrial veteran with an impressive amount of experience in the important Philadelphia and Lehigh Valley submarket,” Tamlyn said. 

Jody Thornton

“As we continue to build out the HFF national industrial capital markets platform, Steve’s addition helps us to better provide our clients with access to the best team on the field in all of the major markets. 

”Finding the right people who align with our culture and value system is critical, and we are fortunate to have Steve join our platform.”

“We have known Steve for more than a decade and have been interested in adding him to our team for some time,” said Mark Thomson, senior managing director and co-head of HFF Philadelphia. 

“To us, the most important traits in a team member are character and cultural fit so Steve’s addition was a no-brainer because he exemplifies these traits perfectly.

Mark Thomson

"We have a dominant market share in the three major property sectors – multi-housing, office and retail – and after a strategic and thoughtful approach for the right fit, we fully expect to achieve the same in industrial with Steve.  We are extremely excited to bring him into our family.”

CONTACTS:

RUSTY TAMLYN

HFF Senior Managing Director

(713) 852-3500

rtamlyn@hfflp.com

MARK THOMSON

PA Lic. #RS292417
HFF Senior Managing Director
484) 532-4200
mthomson@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

Clever Real Estate of St. Louis, MO Cites Unexpected Impact of Legalizing Marijuana Use on Local Housing Markets

Luke Babich

ST. LOUIS, MO -- It’s high time the real estate industry started to talk about marijuana, suggests Luke Babich, co-founder and chief security officer at St. Louis, MO-based Clever Real Estate. 

Babich, an active real estate investor with 22 units in St. Louis and a licensed Real Estate Agent in the state of Missouri, presents his findings in

 A new study from Clever Real Estate. The study reveals the true impact legalizing marijuana has on local housing markets, Babich says.

Typical marijuana plant

Opponents of legalizing marijuana argue that legalization leads to elevated crime rates. In the real estate world, higher crime rates lead to lower property values and poor investments, so we needed to get to the bottom of this debate.

Does legalization lead to budding industry or stoned cold housing markets?

Here are the takeaways you need to know.

Key insights:

●     Between 2014 and 2019, cities that allowed retail dispensaries saw home values increase $22,888 more than those where marijuana remains illegal.

●     CATO research supports these findings, suggesting homes close in proximity to marijuana retail dispensaries tend to increase in value.

●     For cities where only medicinal marijuana is legal, home values increased at a comparable rate to cities where marijuana is illegal; a statistically significant increase in home values could not be attributed to medicinal marijuana legalization.

●     States that legalize recreational cannabis usage, however, see an immediate bump in home values following legalization – even before retail dispensaries begin to pop up.

●     From 2017 to 2019, cities that legalized recreational marijuana usage saw home values increase $6,337 more than those where marijuana is illegal.

Our findings show that in cities where recreational marijuana has been legalized, home values increase at higher rates than in those where marijuana is illegal or only legal medicinally.

Additionally, between 2014 and 2019, cities that allowed retail dispensaries saw home values increase $22,888 more than those where marijuana remains illegal. 
These insights are consistent with findings from the CATO Institute; homes closer to retail dispensaries are approximately 8.4 percent more valuable than those further away.

Our study also found that from 2017 to 2019, cities that legalized recreational marijuana saw home values increase $6,337 more than those where it remains illegal. This suggests that housing markets respond immediately to pro-market marijuana legislation.

CONTACT:

Thomas O'Shaughnessy 

thomas@movewithclever.com

Ackerman & Co. Brokers 12,020 SF Lease with Law Firm at 55 Allen Plaza in Downtown Atlanta, GA

Delmont (Del) Early III

ATLANTA, GA – Ackerman & Co. announced  it represented Stewart Trial Attorneys in a 5-year, 12,020-square-foot lease at 55 Allen Plaza, a 348,658-square-foot, Class A office building in downtown Atlanta. 

Stewart Trial Attorneys, a law practice focused on personal injury and civil rights litigation, is expected to occupy the building in the second quarter of 2019.

Ackerman & Co. Senior Vice President Del Early represented Stewart Trial Attorneys in the transaction and Caroline Fisher of Lincoln Property Company represented ownership (The Teachers Retirement System of the State of Illinois).

“We’re pleased to complete this lease that will provide Stewart Trial Attorneys the space needed to accommodate its long-term growth,” Del Early said.

Caroline Fisher

“The firm was attracted to 55 Allen Plaza’s excellent location providing tenants immediate access to the I-75/I-85 connector, walkable access to MARTA bus and rail, the adjacent W Hotel and nearby restaurants and retail.”

Featuring a sleek, contemporary design with bright, open common areas, 55 Allen Plaza provides secure building access, a fitness club, café, conference room, sundries shop and enclosed parking with covered access.                                                                            

55 Allen Plaza, Downtown Atlanta, GA

About Ackerman & Co.

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. 

The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion. 

CONTACT:

Steve Webb 

swebb@ACKERMANCO.NET

www.ackermanco.com

HFF secures $97 million financing for 111 Leroy in Manhattan, NY

Kristen Knapp

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured $97.1 million in financing for 111 Leroy, a boutique luxury condominium development in Manhattan’s West Village.

HFF worked on behalf of the developer, Property Markets Group (PMG), to arrange the two-year, floating-rate financing through Rialto Capital Management. 

Loan proceeds were used to finance unsold condo inventory at the development, which consists of 13 residences and four townhouses totaling approximately 50,000 sellable square feet.  HFF previously secured construction financing for the project, which is now in the final stages of development.

Christopher Peck

111 Leroy consists of 18 bespoke residences within a 10-story, mid-rise tower at the corner of Greenwich Street in the West Village. 

The residences offer a variety of studio through four-bedroom floor plans ranging from 506 to 3,370 square feet and the project’s five three- and four-story townhouses include multiple private terraces with fire pits, outdoor kitchens, hot tubs and private elevators. 

 The townhouses are available in a variety of four- and five-bedroom layouts averaging 5,397 square feet.  The one five-bedroom townhouse unit also includes a private parking garage with direct entry. 

              111 Leroy, a boutique luxury condominium development 

                                in Manhattan’s West Village

Homes will include high ceilings, nine-inch white oak flooring, LG washers and dryers, radiant floor heating, energy efficient HVAC systems, custom walnut cabinetry and Savant home automation. 

In addition to the high-end interior finishes and exclusive Leroy Street address, 111 Leroy will also feature a 24-hour doorman, state-of-the-art gym, resident’s lounge, water views, and a landscaped yard with arbor garden, lounge area, fire pit and barbecue.

The HFF debt placement team included managing director Christopher Peck and analyst Kristen Knapp.

CONTACTS:

CHRISTOPHER PECK

NY Lic. #40PE1175637

HFF Managing Director

(212) 245-2425

cpeck@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

http://www.rialtocapital.com.

NAI Realvest Completes New Lease Agreement with Growing South Florida-based Wholesale Masonry Distributor

Michael Heidrich

ORLANDO, FL – NAI Realvest who leases and manages the Airport Commerce Center at 8350 Parkline Blvd. off Orange Avenue and McCoy Road recently completed a multi-year lease agreement for 12,320 square feet bringing the industrial center’s occupancy to 100 percent and doubling the tenant’s Orlando operations.  

Michael Heidrich, a principal at NAI Realvest brokered the transaction on behalf of the landlord Ohio-based Parkline Properties, LLC an affiliate of MAS Investment Group.    

The new tenant BrickAmerica, LLC, headquartered in Ft. Lauderdale , currently employs four professionals in Orlando and expects to add at least three to four more employees within the next twelve months. 

The growing company’s relocation from the Edgewood industrial area to the Airport Commerce Center more than doubles their space which will include a showroom for expanded product lines.  

The wholesale distributor of hardscape and masonry materials will showcase Eldorado Stone Veneer, Natural Ledgestone, Clay Brick, and Porcelain exterior paving options.  Additional product information is available on their web site www.BrickAmerica.com.

The new location was strategically chosen for its close proximity to Orange Avenue just north of SR 528 where builders, architects and designers can easily preview the latest trends in veneer and paving for commercial and residential projects.

CONTACTS:

Michael Heidrich, Principal NAI Realvest, 407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President / CEO, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 Beth@larryvershel.com