Southern Lodging Summit Conference Postpones Physical Event to Host Southern Lodging Summit Virtual Update

Wayne Tabor

MEMPHIS, TN —Officials of the Southern Lodging Summit (SLS), an annual hotel conference focusing on development and operations throughout the southern United States, announced it will postpone this year’s physical gathering due to the on-going coronavirus pandemic. 

 Instead, the organization will host a “virtual update,” providing pre-recorded sessions to interested parties.

“While there is nothing more we wanted than to host this year’s event in person, Memphis and Shelby County remain in Phase Two of its recovery, meaning we are limited in terms of the number of people who can gather,” said Wayne Tabor, president & CEO, Metropolitan Memphis Hotel & Lodging Association. 

Peabody Hotel, Orlando

 “Our goal is to provide an educational, personal event for hoteliers to come together to meet and share ideas.  That being said, we strongly believe in ‘safety first’ and will not expose anyone to a potential health risk. 

"As a result, we have decided to tape certain sessions and post the material for interested parties.  Even though we can’t bond over ribs at the Rendezvous and southern hospitality at the south’s grand hotel, The Peabody, we still can share knowledge and best practices with one another to help hoteliers find the ‘new normal.’”

The conference will maintain its annual online auction that is scheduled to run from August 10^, 2020 through Aug.28, 2020.  Auction items include travel and food & beverage packages from all over the country. 

 CONTACT:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

NAI Realvest Negotiates Lease of Herndon Center Office Space in Orlando, FL to a National Non-Profit

Maitland, FL – NAI Realvest recently negotiated a new lease agreement for 2,000 square feet of office space at Herndon Center, 615-F Herndon Ave. in Orlando.

 Michael Heidrich, a principal at NAI Realvest, negotiated the lease representing the landlord, LBJ Properties of Winter Park.   The tenant, Mi Familia Vota education fund, is a nationwide non-profit organization providing technical education to young Hispanic workers, and was represented by Will Watkins of Coughlin Commercial.

For more information, please contact:

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

Patrick Mahoney President NAI Realvest 407-875-9989 pmahoney@realvest.com;

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

NAI Realvest Negotiates Lease Agreement to Open Sports Themed Restaurant at Dellagio Town Center on Sand Lake Road in Orlando, FL

ORLANDO, FL. - NAI Realvest recently negotiated a new lease agreement for 6,000 square feet of retail space at Dellagio Town Center (top left photo) on Sand Lake Rd. in Southwest Orlando.

Chairman George Livingston (middle right photo) and Christie Alexander (lower left photo), principals at NAI Realvest, and Broker Associate Drew Saphos, CCIM and Associate Paul Vera represented the tenant.

The lease will bring a Miller’s Field restaurant to the upscale center.

Craig Miller, former CEO at Ruth’s Chris Steak House, is a principal of the restaurant chain, which operates a Miller’s Field restaurant and sports bar in San Diego, California.

The landlord was represented by Amy Schuemann with Unicorp National Developments, Inc., the owner/developer of the center.  

For more information, contact

Christie Alexander, Principal, NAI Realvest 407-949-0704, calexander@realvest.com

George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

Grubb & Ellis|Commercial Florida closes on Sale of Three Acre Parcel in Downtown Orlando for $7M

Broker Sees Signs of Economic Upturn

ORLANDO, Fla. --- Grubb & EllisCommercial Florida has closed on the sale of a three-acre commercial/mixed use land parcel at 100 W. Livingston St. in downtown Orlando for $7 million.

(The price equates to $2.3 million per acre or about $53.56 per square foot)

David G. Calcanis, (top right photo) vice president of the Land Group at Grubb & EllisCommercial Florida, negotiated the transaction on behalf of the seller, Orlando Land Trust, LLC of Aventura. Jain West Livingston, LLC of Orlando was the buyer.

Jeffrey Sweeney, (middle left photo) SIOR, managing director of Grubb & EllisCommercial Florida, associated with 200 Grubb & Ellis offices worldwide, said Calcanis, who joined the firm in 2004, ranks as the leading land broker at Grubb & EllisCommercial Florida for 2008.

His recent sales besides the Livingston Avenue parcel include a 5.6 acre parcel on N. Orange Ave. across from the Orange County Courthouse facility.

Altogether, the value of Calcanis’ transactions last year totaled more than $25 million.

“Bargain basement prices are beginning to attract more buyers and we see recent interest in land acquisitions as a major sign that economic conditions are beginning to improve,” said Calcanis.

Contact: Larry Vershel or Beth Payan, Vershel Communications, 407 644 4142.

Apartment Realty Advisors (ARA) Florida Brokers Sale of 298-Unit Preserve at Long Leaf

Class AA Community Trades for $26.6M

MELBOURNE, FL —ARA Florida’s Orlando office represented Boca Raton, FL-based Altman Development in the sale of the 298-unit Preserve at Longleaf (top right photo) multifamily community located in Melbourne, FL.

Kevin Judd (top left photo) of ARA’s Orlando office brokered the sale.

Constructed in 2006, The Preserve at Longleaf is an exceptional Class AA apartment community that is comprised of 23 two-story apartment buildings and a lavish 6,000-square foot clubhouse with fully-equipped fitness center, resort-style pool and spa, furnished sun deck, wet bar, indoor half-court basketball, kids’ Fun-n-Study center, media center with plasma TV, wireless internet access, billiards room, fully equipped business center and executive conference room.

The community was 86% occupied at the time of the sale.

“The property is one of the newest and highest-quality apartment communities in Melbourne and the entire Space Coast of Florida,” said Kevin Judd, ARA’s Orlando-based broker for the transaction.

“Preserve at Longleaf’s low-density site plan, irreplaceable in-fill location and one-of-a-kind resort-style amenities make it an ideal multifamily investment asset.”

The Preserve at Longleaf is sited on an expansive 85.8 acre site, of which 59.2 acres comprise abundant lakes and wetlands, and the other 26.6 acres comprise the usable area.

The low density of only 11 units per usable acre creates a private, serene environment with attractive views. The property is strategically located only one-quarter mile north of the Brevard Community College Melbourne Campus.

“The Melbourne area has realized an incredible amount of job growth and economic stimulus in the past several years due primarily to billions of dollars worth of government contracts and investment in the area,” said Dick Donnellan, one of ARA Florida’s founding partners, who also represented the seller in the transaction. Donnellan is based in ARA Florida’s Boca Raton office.

“The Preserve at Longleaf benefits from this investment due to its convenient access to numerous high-tech employers including Harris, Northrop Grumman , Patrick Air Force Base and the Kennedy Space Center,” Donnellan continued.

Remi Properties purchased the community from Altman Development for $26.6 million or $87,248 a unit. Low-level financing was arranged through Merrill Lynch. The trailing cap rate was 5.4%.

The sale of Preserve at Longleaf tipped ARA Florida’s annual sales production to just over $100 million for the year ended 2008.

Contact: Marti Zenor at mzenor@ARAusa.com or 561-988-8800, ext. 112.

International Shoppes in Orlando Listed for Sale at $15.5M

ORLANDO, FL-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for International Shoppes, (top right photo) a 72,897-square foot retail plaza in Orlando.

The listing price of $15.5 million represents $213 per square foot.

Anthony Louie and Toufic Simaan, both investment specialists in the Orlando office of Marcus & Millichap, are representing the seller.

“International Shoppes is an excellent opportunity for an investor to acquire a well-positioned shopping center that is situated in one of Orlando’s most dynamic retail corridors and benefits from multiple economic drivers, including convention traffic, tourism, residential developments and nearby employment centers,” says Simaan.

“Additionally, there is an attractive loan assumption, which is extremely valuable given the difficult lending environment and turmoil in the credit markets.”

Located at the southeast corner of International Drive and Kirkman Road, the multi-tenant shopping center is situated on 5.64 acres in a major thoroughfare with more than 3 million square feet of retail space and 4 million square feet of convention space.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716