HFF closes $6.1M sale of Publix in Birmingham, AL

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of a 44,271-square-foot Publix grocery store in Birmingham, Alabama.

The HFF investment sales team was led by director Jim Hamilton (top right photo) who represented the seller, Inland Western Retail Real Estate Trust, Inc. Cole Capital – Cole Real Estate Investments purchased the property for $6.1 million free and clear of debt.

 In addition, HFF Atlanta recently closed the sale of a Harris Teeter store in North Carolina on behalf of Inland Western Retail Real Estate Trust, Inc.

Completed in 2004, the property is fully leased to Publix through November 2024. The store is situated on a 4.8-acre site at 3141 Overton Road in the Mountain Brook area of Birmingham.

“There are only three competing grocers in the immediate Mountain Brook area, encouraging strong sales and stability at the property,” said Hamilton.

“In addition, the Mountain Brook area is an extremely affluent area of Birmingham with an average household income of more than $132,000 within a three-mile radius from the property.”

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties. They also have interest in 12 unconsolidated operating properties and 17 properties in 7 development joint ventures.

For further information, please see the company website at http://www.inlandwestern.com/.

For three decades, Cole has partnered with thousands of investors in the ownership of various types of commercial real estate. Since 1979, Cole has introduced more than 100 investment programs and manages a portfolio of properties valued at approximately $4.0 billion across 45 states and the U.S. Virgin Islands.

Contacts:

Jim Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes $5.4M sale of Harris Teeter in Wilmington, NC

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of a 57,230-square-foot, free-standing Harris Teeter in Wilmington, North Carolina.

HFF directors Jim Hamilton (top right photo)  and Richard Reid (bottom left photo) and associate director Kevin Hurley marketed the property on behalf of the seller, Inland Western REIT. Lake Davidson Village, LLC, an affiliate of Chen Development, LLC, purchased Harris Teeter for $5.4 million.

Harris Teeter is located at 820 South College Road close to Routes 76 and 74, The University of North Carolina at Wilmington, and Wrightsville Beach in Wilmington. The property is situated on nearly five acres and is fully leased to Harris Teeter through 2015.

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

 As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties.

They also have interest in 12 unconsolidated operating properties and 17 properties in 7 development joint ventures. For further information, please see the company website at www.inlandwestern.com.

Contacts:

Jim Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com
Richard Reid, HFF Director, (404) 942-2209, rreid@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Merchant’s Exchange in Marietta, GA

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Merchant’s Exchange,(top left photo)  a 130,013-square-foot retail shopping center in Marietta, Georgia.

The HFF investment sales team was led by senior managing director Whitney Knoll (middle right photo) and director Richard Reid (bottom left photo) who represented the seller, Centro Properties Group. Columbia Properties, Inc. purchased the property free and clear of debt.

Merchant’s Exchange is situated on 11.2 acres at 4400 Roswell Road close to the intersection of Johnson Ferry Road and Roswell Road in the northern Atlanta suburb of Marietta.

Originally completed in 1986 and renovated in 1997, the property is 98.9% leased to tenants including LA Fitness, The Picture Show Movie Theatre and Hancock Fabrics.

“Merchant’s Exchange has an irreplaceable location in the hub of retail activity for East Cobb County,” said Knoll.

Centro Properties Group (“Centro”) is a retail investment organization specializing in the ownership, management and development of retail shopping centers. Centro manages both listed and unlisted retail property and has an extensive portfolio of shopping centers across Australia, New Zealand and the United States. Centro has funds under management of $20.3 billion.

CPI manages, leases, and/or owns more than one million square feet of retail shopping centers ranging in size from 15,000 to over 100,000 square feet in the Atlanta metropolitan area and throughout Georgia.

Contacts:

C. Whitney Knoll, HFF Senior Managing Director, (404) 832-8460, wknoll@hfflp.com
Richard M. Reid, HFF Director, (404) 832-8460, rreid@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF announces $15M in closed Southeast U.S. shopping center sales

ATLANTA, GA, Feb. 16, 2009 – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed more than $15 million in shopping center investment sale transactions in the Southeast United States on behalf of Centro Properties Group.

The two properties are: The Shoppes at Letson Farms (top right photo) in McCalla, Alabama and Hampton Plaza (top left photo) in Tampa, Florida.

HFF senior managing director Whitney Knoll, (middle right photo) managing director Brad Peterson (bottom left photo) and associate director Justin Greider marketed both properties on behalf of the seller.

DLC Management Corporation purchased The Shoppes at Letson Farms for $12.675 million in February 2009. Gator Investments purchased Hampton Plaza in November 2008 for $2.6 million.

The Shoppes at Letson Farms is situated on 15.8 acres at 4750 Eastern Valley Road in McCalla, near the junction of Interstates 459 and 20 in southwest Birmingham.

Completed between 2002 and 2004, the grocery-anchored shopping center has 95,092 square feet and is currently 95% occupied by tenants including Food World (anchor tenant), Movie Gallery, H&R Block, Subway, and Curves.

Situated on 6.2 acres, Hampton Plaza is located at 5300 Gunn Highway near the Citrus Park Town Center. The 44,420-square-foot, neighborhood center was completed in 1990 and is currently 95% occupied by tenants including Big Lots (anchor tenant), Dollar General and Metro PCS.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

Contacts:

C. Whitney Knoll, HFF Senior Managing Director, 404 832 8460, wknoll@hfflp.com

H. Bradley Peterson, HFF Mnaging Director, 407 514 2620, bpeterson@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, 713 852 3500, kmurphy@hfflp.com

HFF Atlanta closes multifamily transactions totaling more than $100M in December 2008

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) closed more than $100 million in six multifamily transactions in December 2008 despite a sluggish investment and lending market.

Of the closed transactions, five were investment sales including two assets in Raleigh, North Carolina, two assets in Gastonia (Charlotte, NC suburb), and one asset in Atlanta, Georgia. The sixth transaction was the capitalization of a to-be-built apartment project in Atlanta.

HFF managing director Jason Nettles (top right photo) and associate director Megan Thompson (top left photo) led the investment sales team in closing the five sales on behalf of three separate owners to three distinct buyers.

The two Raleigh properties, The Lakes and The Lofts, have a total of 784 units and were sold by a national REIT to a private group of northeast-based investors. The two Gastonia properties, Quail Woods and Carriage House, have a total of 290 units and were sold by a private regional owner to a local private buyer.

The Atlanta property, Woodland Hills, has a total of 228 units, and was sold by a national REIT to a national investment group.

“HFF provides an outstanding capital markets-based platform which enables us to evaluate the strength of the buyers and make quality recommendations to our clients for selecting buyers that are capable of closing,” said Nettles. “In all but one case, these transactions were closed with the first buyer that went under contract – a rarity in this market environment.”

Director Michael Cale (bottom right photo) represented local developer Capital 33 in the capitalization of a to-be-built, luxury, in-fill apartment community on the east side of Atlanta. The construction loan was procured through a regional bank and a national advisor provided the equity investment.

“The infill nature of the site, combined with Capital 33’s strong development experience were all compelling factors in securing capital in such a difficult environment,” added Cale.

CONTACTS:

Jason Nettles, HFF Managing Director, 404 832 8460, jnettles@hfflp.com

Michael A. Cale, HFF Director, 404 832 8460, mcale@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, 713 852 3500, krmurphy@hfflp.com

HFF arranges $12.8M construction loan for suburban Indianapolis office development

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $12.8 million construction loan for Concourse at Crosspoint One, a to-be-built, Class A office building in suburban Indianapolis, Indiana.

Working on behalf of Edgeworth Laskey Properties, HFF director Jon Everson (bottom right photo) and associate director David Ross placed the 36-month, adjustable-rate construction loan with Busey Bank.

Edgeworth Laskey Properties LLC is a locally-owned and operated real estate development company that specializes in institutional-quality, Class-A commercial office space.

Due for completion in November 2009, Concourse at Crosspoint One will have 110,000 square feet of office space that is 27% pre-leased to USA Funds.

The four-story property is located at 9998 Crosspoint Boulevard within Concourse at Crosspoint office park, (bottom left photo) approximately 13 miles northeast of downtown Indianapolis via Binford Boulevard/Interstate 69.

CONTACTS:

Jonathan P. Everson, HFF Director, 317 630 3191, jeverson@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, 713 852 3500, krmurphy@hfflp.com

HFF closes sale of Woodland Hills in Decatur, GA

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Woodland Hills, (site map bottom right) a 228-unit multifamily community in Decatur, Georgia.

The HFF investment sales team was led by managing director Jason Nettles (top left photo) and associate director Megan Thompson (top right photo) who marketed the property on behalf of the seller, Equity Residential. Resource Real Estate purchased the property.

Woodland Hills is located seven miles north of downtown Atlanta at 3471 North Druid Hills Road in the North Druid Hills community of DeKalb County close to Emory University, Emory Healthcare Centers and The U.S. Center for Disease Control and Prevention.

The 95% leased property has one- and two-bedroom units averaging 1,167 square feet each. Community amenities include a swimming pool, picnic area and tennis courts.

“Woodland Hills is located in an affluent community with fixed supply and increasing demand,” said Nettles. “The property is advantageously positioned to provide a value option for the overflow of undergraduate and graduate students from Emory University who are seeking housing.”

Equity Residential (“EQR”) is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets.

Equity Residential owns or has investments in more than 550 properties in 23 states and the District of Columbia.

Resource Real Estate (“RRE”) controls a real estate portfolio with an aggregate value in excess of $1.7 billion, which includes approximately 12,500 apartment units and 1.3 million square feet of commercial space located throughout the United States.

CONTACTS:

JASON NETTLES, HFF Managing Director, (404) 832-8460, jnettles@hfflp.com

KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com