Carter Completes Several Deals, Rebranding Process

ATLANTA, GA – Carter, one of the nation’s leading investment, development and advisory firms, said it has closed on approximately $100 million in equity development deals aligned with its streamlined focus on investment, development and advisory services.

The company plans to start construction on another $200 million by early 2013. Simultaneously, the company unveiled a new brand identity that includes a refreshed logo, new imaging and an updated website – all aligned with the new focus.

 The new developments are HighPoint at Columbus Commons (lower right photo), a $50 million residential project with retail in downtown Columbus, Ohio; Phase II of The Banks (lower left photo) in downtown Cincinnati ($73 million); Highland Square, a $40 million student housing project in Oxford, Miss; and more than $100 million worth of projects in Louisiana and Oklahoma.

Last year, Carter announced it would focus on equity development in student housing, multifamily and mixed-use projects in core areas; value-add office investment opportunities; education-oriented project management; and an expanded strategic consulting/advisory services practice.

“Our new developments in Ohio, Michigan and Mississippi are part of the plan we announced nine months ago and indicative of what Carter is today,” said Scott Taylor (top right photo), president of Carter. “As our firm changed, we needed to refresh our identity and brand, and we’ve done that as well.”

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

Wilbert News Strategies


Tony Wilbert

404-965-5022 or 404-405-3656

twilbert@wnspr.com

http://www.carterusa.com.

   

Colliers International Completes 220,000-SF Industrial Lease with Prologis and American Apparel, Inc. Valued at $6.3 Million in La Mirada, CA

LA MIRADA, CA -- Colliers International, the third largest global real estate services organization, has completed a 60-month lease valued at nearly $6.3 million on behalf of Prologis, with American Apparel, Inc. for 220,000 square feet of warehouse and office space. The industrial property is located at 16400 Trojan Way (top left photo) in La Mirada, Calif. 

Chris Sheehan (middle right photo) and Adam Deierling (lower left photo) of Colliers International represented the property owner, Prologis based out of Cerritos, Calif. The tenant, American Apparel, Inc., an apparel distribution company, represented itself.   The tenant will use the facility to ship, receive, package, and store its apparel products.

American Apparel will use the facility as its primary distribution hub, freeing up valuable space at their manufacturing facilities in Downtown Los Angeles. Move-in occurs this month.

“This property is one of a very few corporate image distribution facilities of the required size that was immediately available in the market,” said Deierling. “The building suited the tenant’s timing and operation perfectly and Prologis performed in the short time frame needed to make this deal happen. This is another indication of the improving fundamentals of infill Los Angeles big box industrial real estate.”

Built in 1986, the 220,000-square-foot building includes 30 dock-high positions, three ground level positions, 26-foot ceiling clearance, 19,000 square feet of corporate offices, abundant parking, and a large fenced yard.

 Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Colliers International Completes 18,179-Square-Foot Industrial Lease with Home Design Outlet Center in Buena Park CA

 BUENA PARK, CA -- Colliers International, the third largest global real estate services organization, has completed an 18,179-square-foot lease with Home Design Outlet Center for use as a product showroom and west coast distribution center. The New Jersey-based company specializes in quality bathroom vanities, shower systems, and natural stone products.

Chuck Wilson (top right photo) and Brian Chastain  of Colliers International represented the tenant. The property owner, RREEF, was represented by Laird Perkins with CBRE.

“Home Design Outlet Center is expanding throughout the United States and this Buena Park location is the company’s first in California,” said Wilson. “The new space offered them great exposure in a high traffic location ideal for attracting consumer traffic.”

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Colliers International Completes Record-Breaking $9.15 Million Sale of a Retail Property Occupied By Wells Fargo Bank in Phoenix, AZ

PHOENIX, AZ) Jereme Snyder (middle right photo)  and Eric Carlton (lower right photo) of Colliers International, the third largest global real estate services organization, have completed a record-breaking sale of a single-tenant retail property NNN leased to Wells Fargo Bank for $9.15 million.

The property, located at 3102 E. Camelback Rd (top left photo). in Phoenix, set a new national sales record for a bank-occupied property with the lowest closing cap rate in 2012 of 4.17 percent. It also sold for a price per square foot of $2,231 which is the highest PPSF for a bank-occupied property in 2012 nationwide as well. (Both records are according to CoStar).

The Snyder-Carlton Team of Colliers International represented the seller, Phoenix-based TradeCor LLC.   Andrew Greenberg of ERG Property Advisors represented the buyer, 8155th Ave. LLC from New York, NY.

“The property is a single-tenant corporate ground lease with Wells Fargo Bank that has more than 16 years remaining on the lease and 3 percent annual increases in rent,” said Snyder. “We were able to garner four offers with a sub-4.5 percent cap rate and underwent a challenging 60-day negotiation process with the buyer who saw the intrinsic value of the property with the ideal combination of a trophy location, strong tenant, and quality, new construction building.”

 Carlton added, ”Single-tenant investments in the growing Phoenix area as well as other key markets within the country are highly sought after, as even a low cap rate in the 4 percent range is appealing and provides a stable investment year over year in an uncertain economic environment.” 

Built in 2008, the property totals 4,100 square feet and is situated on 43,037 square feet of land. The property is located at 32nd and Camelback Rd. in the heart of the financial corridor of Phoenix/Scottsdale, next to the Biltmore Hotel.

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Colliers International Completes 29,574-SF Industrial Lease in Fullerton, CA

 Fullerton, CA– Colliers International, the third largest global real estate services organization, has completed a six-year, 29,574-square-foot industrial lease located at 1405 E. Orangethorpe Ave. in Fullerton, Calif.

 Chuck Wilson (top riight photo) in the Irvine office of Colliers International represented the building owner, Laskey-Weil from Los Angeles. The tenant, Atlas Construction Supply, Inc. is relocating its 18 employees from two branch locations in Long Beach, Calif. in order to consolidate and expand their space. Atlas will use the facility for its will-call, warehousing and distribution needs.

The space for Atlas is within an 111,566-square-foot building that is conveniently located near the 57 and 91 freeways. With this lease, the property is fully occupied.

 “The property offers great frontage on Orangethorpe, which will give Atlas Construction Supply the identity they were looking for in their new location,” said Wilson.

Contact:

darcie@spauldingthompson.com

www.twitter.com/colliersgla.

Alan Chernin Joins Colliers South Florida as VP of Retail Services

MIAMI, FL - Colliers International South Florida is pleased to announce that Alan Chernin (top right photo) has joined the firm as Vice President of Retail Services. He is a specialist at managing and implementing national retail tenant growth plans throughout Florida and is expected to expand the firm's retail tenant reps throughout Broward and Palm Beach counties.

"We are extremely fortunate to have Alan joining our retail team," says Rob Warstler (middle left photo), Director of Retail Services for Colliers International South Florida. "He brings years of retail experience and relationships and fits in with Colliers' service excellence. Alan represents a number of national, regional, and local tenants that provide outstanding value to shopping center owners."

Chernin has been involved with commercial real estate for over 30 years. Alan grew up during the development of the first wave of enclosed malls, and toured sites with his father, who worked for Melvin Simon & Associates. Three decades in the industry has allowed him to build solid relationships key to tenants in the market. He has represented clients such as H & R Block, Sola Salon Studios, Weight Watchers, Red Mango Yogurt and Edward Jones Investments.

"The market is surging forward with new and existing tenants seeking expansion and relocation opportunities throughout the state, and we want to lead the way in establishing their footprints here in Florida," says Chernin.

Prior to joining Colliers, Chernin had his own company, Coordinated Real Estate Services, Inc., where he primarily engaged in Tenant Representation for Fortune 500 corporations, medium size companies, and small businesses. He graduated from Florida State University with a B.S. in Business/Real Estate. He is a member of the Tri-County Humane Society.

For further information,  please contact:  

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Lincoln Property Co. Southeast Brokers Two Leases in 55 Allen Plaza in Atlanta, GA

ATLANTA, GA – Lincoln Property Co. Southeast has brokered two leases in 55 Allen Plaza, (top left photo) the 350,000-square-foot, Class-A office tower in downtown Atlanta that the firm manages and leases.

Here’s a closer look at the leases:

• Afterburner, a firm that offers an array of business consulting and teambuilding services, signed a lease expansion to occupy a total of 8,784 square feet. Greg Baxendale (middle right photo) of Transwestern represented the tenant, and Lincoln represented the landlord.

• The Fogle Law Firm, which focuses on immigration issues, signed a five-year lease for 4,285 square feet of space. Lincoln’s Sabrina Altenbach (lower left photo) represented the tenant, which is scheduled to move in this fall, while Leigh Braswell of Lincoln represented the landlord.

The law firm currently has its offices in The Grant Building downtown and wanted to stay in the area.

“These are two important leases,” said Braswell, a vice president with Lincoln Property Co. Southeast. “Afterburner has been an outstanding tenant for 55 Allen Plaza, and we are pleased to be able to accommodate the firm’s growth needs. The Fogle Law Firm is a growing business as well, and the firm will be a welcome addition to 55 Allen Plaza’s roster of first-class tenants.”

Overlooking the Downtown Connector on downtown Atlanta’s northern edge, 55 Allen Plaza provides tenants with easy access to all of Atlanta’s sub-markets, and, as part of the Allen Plaza mixed-use development, the building is surrounded by amenities including restaurants, the W-Atlanta Downtown Hotel & Residences, retail and Centennial Olympic Park.

 For More Information, Contact

Stephen Ursery

Wilbert Public Relations

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Metro Orlando Business Park in Altamonte Springs, FL Inks Four Leases Totaling 20,000 SF

 ORLANDO, Fla. (Sept. 21, 2012) – Lincoln Property Company Southeast has brokered four leases totaling nearly 20,000 square feet at Northlake Business Park (top left photo), a 270,000-square-foot office park north of Orlando in Altamonte Springs, Fla.

 Robert Kellogg (lower right photo), vice president – office, for Lincoln, represented the landlord, TR North Lake LLC, in the deals.

 The leases included the following transactions:

 • Mohawk Carpet Distribution renewed its 8,055-square-foot lease for two years. David Murphy of CBRE Group represented the tenant.

 • Taylor Morrison signed a three-year new lease for 5,290 square feet. The transaction was a direct deal.

 • Pitney Bowes renewed its 3,651-square-foot lease for three years. Betsy Owens of Cushman& Wakefield represented the tenant.

 • Pinnacle signed a five-year new lease for 2,573 square feet. The transaction was a direct deal.

Located near Interstate 4, Northlake Business Park is located near restaurants, hotels and shopping centers. The site features four parking spaces per 1,000 square feet, and exterior signage is available for tenants.

 “As the economy continues to recover, we are noticing a real uptick in office leasing activity in Orlando and the surrounding markets,” Kellogg said. “These four transactions are not only great news for our landlord client, but they are indicative of the upswing of the central Florida office market.”

 For More Information, Contact

Stephen Ursery

Wilbert Public Relations

404-965-5026

sursery@wnspr.com

NAI Realvest negotiates new lease with water damage experts at Hanging Moss CommerCenter in Orlando, FL

 MAITLAND, FL – NAI Realvest recently negotiated a new industrial lease agreement for 1,875 square feet in Suite 330, 6124 Hanging Moss Rd. at Hanging Moss CommerCenter in Orlando.

 NAI Realvest Principal Michael Heidrich (top right photo) brokered the transaction representing the landlord COP-Hanging Moss, LLC of Maitland and the tenant, Dry-Tech Restoration, Inc., water damage experts.

 For more information, 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   

Emerson International Negotiates Lease Agreement at Major Plaza in Southwest Orlando

ALTAMONTE SPRINGS, FL. --- Emerson International, which owns Major Plaza I office building on Kirkman Road near Southwest Orlando’s International Drive area, recently negotiated a lease agreement for 549 square feet of office space at Major Plaza I.

 Kenneth R. Koch, commercial portfolio director at Emerson International negotiated the lease agreement.

 Creative Impressions and Memories is the new tenant.

 For more information, contact

 Kenneth R. Koch, Commercial Portfolio Director, Emerson International, Inc. 407-834-9560 x238; kkoch@emerson-us.com;

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

Mez Birdie Appointed Court Receiver for Commercial Properties in Orlando and Jacksonville, FL

MAITLAND, FL. – Mez R. Birdie (top right photo) CCIM, CPM, SCSM, director of special assets at NAI Realvest, has been appointed court receiver for properties located at:

6220 SOBT, Orlando;
8101 Southside Blvd, Jacksonville;
3720 St. John’s Bluff, Jacksonville;

Birdie is responsible for all property management and leasing functions and will report to the Circuit Court of the 9th Judicial Circuit in Orange County, Fla.

For more information, contact:

Mez Birdie, CCIM, Director/Retail & Investment Services NAI Realvest 407-875-9989, Mbirdie@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989, pmahoney@realvest.com
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

South Florida Office Building Sells for $10.3 Million

CORAL GABLES, Fla., Sept. 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, in conjunction with Coral Gables-based Mazzei Realty Services Inc., has brokered the sale of the Kendar office building, (top left photo) a 43,671-square foot five-story office building in Coral Gables. The sales price of $10.3 million equates to $236 per square foot.

Benjamin H. Silver (middle right photo), an associate director of the National Office and Industrial Properties Group (NOIPG) in Marcus & Millichap’s Miami office, helped broker the transaction between the buyer and the seller.

“South Coral Gables’ transactions of this magnitude are rare, although the submarket is fundamentally one of the top real estate markets in Florida,” says Silver.

 “The Kendar building is a very well-known property and one of the few Class B-plus office buildings that has maintained a mid-90 percent to high-90 percent occupancy rate throughout the recent downturn. The asset was meticulously managed and maintained by Mazzei Realty Services Inc., and represented the best in class for this market,” adds Silver.

The property is located at 1550 Madruga Ave. in Coral Gables, south of U.S. Route 1 and across from the University of Miami.

Built in 1970, the Kendar office building was 97 percent occupied at the time of the sale. The building’s tenants include Suchman Retail Group, Lawex Corp/Trialworks, DiBello, Lopez & Castillo, P.A., Mazzei Realty Services, Inc., Mark I. Rivlin, P.A., Dr. John T. MacDonald Foundation Inc. and The Ethel & W. George Kennedy Foundation Inc.

More than $1 million in major capital improvements were recently made to the building, including new elevators, a new roof and a new fire safety system.

Contact:

Stacey Corso

Public Relations Manager
(925) 953-1716

MAA Enters New Market with Kansas City Acquisition

MEMPHIS, TN /PRNewswire/ -- MAA (NYSE: MAA) announced today that it has entered the Kansas City, Missouri market with the acquisition of Market Station, an upscale, urban mid-rise apartment community.

The 323-unit Market Station property was developed in 2010 and is located in the River Market area, a riverfront neighborhood located immediately north of the Central Business District in downtown Kansas City.

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

Investor Relations of MAA,

 +1-901-682-6600,

investor.relations@maac.com

Web Site: http://www.maac.com

Single Tenant Sale Reflects Market Trend

MIAMI, FL, Sept. 20, 2012 -- Investors are scrambling to place capital in safe havens with higher yields offered in the stock market and single tenant assets are at the forefront.

David Wells (top right photo), Senior Investment Advisor & Head of the Net Lease Division, of Sperry Van Ness's Miami office has just closed a single tenant Family Dollar in Louisiana yielding a 9.00% return and sees demand strengthening.

"As yields on traditionally safe investments, corporate & government bonds and treasuries, are averaging roughly 1--3% single tenant assets have become an extremely attractive option.

“Investment grade credit tenants with corporate backed leases are an excellent option when looking to place capital. An investor can achieve a yield between 6 – 9 percent from an S&P rated corporation with a long-term lease with the physical real estate serving as collateral" says Wells.

The transaction, which Wells just placed one of his investors in was a Family Dollar in Vidalia, LA. The deal closed all cash at a 9.00% cap rate with six years of term left on an initial 10-year lease with 6 options to extend the lease for 5 years.

From the beginning of the marketing period to the closing took a total of 6 months. The seller was a large developer based out of the Southern United States whom wells also represented and is marketing a portfolio of assets for currently.

"The transaction is representative of what we are seeing transpire in the retail commercial real estate market today,” says Wells. “Demand has increased tremendously over the past few quarters. The velocity is all trophies and trash.

“Either investors are buying high vacancy foreclosed deals direct from lenders or single tenant investment grade credit, anything S&P BBB-, Moody's Baa3 or higher, assets with long-term leases.

“The recent closing yields my client a 9.00% return with an excellent tenant with a phenomenal balance sheet and investment grade rating. This is the sweet spot in today's market and demand is only increasing."

David Wells has been involved in the acquisition and disposition of over $1 billion worth of commercial real estate transactions throughout the country. Based in Miami, Mr. Wells specializes in selling credit rated single tenant retail assets throughout the United States.

He represents a unique mix of investors from both the US and South America and work with both private and institution clients.

For more information, contact:

David Wells:
david.wells@svn.com
305.498.6095

$25.1 Million Bucks County Multifamily Property Sold by Marcus & Millichap

LEVITTOWN, Pa., Sept. 19, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of the Chesterfield Apartments (top left photo), a 247-unit multifamily property in the planned community of Levittown. The sales price of $25,155,000 equates to $101,842 per unit and $143 per square foot.

Donald “Ridge” MacLaren, a first vice president investments, and senior associates Clarke Talone and Andrew Townsend, all in Marcus & Millichap’s Philadelphia office, represented the seller, a multifamily REIT. They also procured the buyer, a local partnership.

“Chesterfield Apartments is a very well-maintained property in a strong Lower Bucks rental market,” says MacLaren. “The seller did a terrific job improving the asset over their hold period and was rewarded with a tremendous amount of buyer activity. The buyer has acquired a well-performing asset that should produce strong returns,” adds MacLaren.

“The low interest rate environment, strong apartment fundamentals and next year’s potential increase in capital gains taxes are spurring buyer interest in quality Delaware Valley apartment communities,” MacLaren concludes.

The 175,495-square foot property is located at 1338 Veterans Highway in Levittown, a suburban community situated at the southern end of Bucks County between Philadelphia and Trenton, N.J. Interstate 95, the Pennsylvania Turnpike, U.S. Route 1 and Route 413 are within close proximity. Public transportation in the area is provided by the Southeastern Pennsylvania Transportation Authority.

Chesterfield Apartments was built in 1974 on 15.5 acres. The community consists of 10 buildings containing 153 one-bedroom units, 93 two-bedroom apartments and one three-bedroom house. A majority of the units have been updated with new kitchens and baths. Many units also feature washers and dryers. Common area amenities include a swimming pool, fitness center and clubhouse.

Contact:

Stacey Corso
Public Relations Manager
(925) 953-1716