Tuesday, May 13, 2008

Seven-Person East Coast Retail Property Team Joins HFF

ATLANTA, GA – HFF (Holliday Fenoglio Fowler, L.P.) announced today that a team of seven capital markets professionals and analysts will join the firm.

The team members, formerly of Staubach Capital Markets, will focus on investment sales and capital markets transactions in the retail property sector, and will further enhance HFF’s already strong national retail team.

The team members will work primarily with HFF’s east coast offices of Atlanta, Boston, Hartford and Westport, Connecticut, Miami, New Jersey, New York City and Washington, D.C.

Whitney Knoll, (photo at left below) who was a senior managing director and leader of the East Coast Retail Team at Staubach, will join HFF as senior managing director in the Atlanta office. Mr. Knoll’s team was involved in more than $3.3 billion in retail property transactions. Prior to Staubach he held leadership positions at Trammell Crow Company in the Retail Capital Markets Group and was with Ben Carter Associates and CB Commercial Real Estate Group.
Mr. Knoll is a long-standing member of the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI) and Atlanta Commercial Board of Realtors.

Lynn De Marco, a 20-plus year industry veteran and senior member of the retail team, will join HFF in its New York City office as a managing director. Prior to joining the retail team in 2004 at Trammell Crow, Ms. De Marco was in the Investment Properties Division of Insignia/ESG and, post merger, CB Richard Ellis. She has also held positions with Bear Stearns’ and Smith Barney’s Commercial Mortgage Groups, Wexford Management LLC and Chase Manhattan Bank. Ms. De Marco is an active member of ICSC.
Bradley Peterson (photo at left below) will join the firm as a managing director and was a senior broker with Staubach responsible for transactions valued at close to $1 billion. Prior to Staubach, he was with Trammell Crow Company, West Deutsche Landesbank Girozentrale and Price Waterhouse LLP. Mr. Peterson will be focusing on the Southeastern part of the country and will work closely with HFF’s existing retail team in the Miami office. He is the Florida Regional Overview Coordinator for ICSC, and is involved with ULI as volunteer for ULI UrbanPlan and a member of Executive Committee ULI Atlanta. Mr. Peterson holds an MBA from Emory University.

Richard Reid, (photo at right) James Hamilton and Kevin Hurley also will join HFF in its Atlanta office. Mr. Reid will join HFF as a director, has been with the retail team for two years and prior to Staubach was with Trammell Crow Company and CS First Boston. Mr. Reid holds an MBA from the University of Florida and is an active member of ICSC and Atlanta Commercial Board of Realtors.

Mr. Hamilton also will join as a director with HFF and has been with the retail team for six years including at Staubach and Trammell Crow. He is a member of ICSC and the Association of Young Real Estate Professionals, and is actively involved in ULI as member of the Executive Committee ULI Atlanta, chair of the Membership Committee and Mentor Program, and a volunteer for ULI Urban Plan.

Mr. Hurley will join HFF in a senior real estate analyst position as an associate director. He was a real estate analyst for the team at Staubach and Trammell Crow and is a member of ICSC and ULI.

Justin Greider, will continue working as part of Mr. Peterson’s team as a senior real estate analyst and was a senior financial analyst for the retail team with Staubach and Trammell Crow. He is a member of ULI as well as involved in ICSC on several Program Committees, report author for several Florida reports and a past presenter at the ICSC West Florida General Session. Mr. Greider holds an MBA from Rollins University.

“The addition of this retail investment sales team is in keeping with our strategic growth initiatives and our Mission/Vision Statement which is to hire the people with the highest ethical standards and the best reputation in the industry to ensure we continue to provide value-added services to our clients,” said Manny de Zárraga,(top right photo) executive managing director and member of HFF’s operating committee.

“We are delighted to have one of the leading retail investment sales teams in the eastern part of the country join with our existing capital markets and investment sales team to further strengthen our already dominant retail presence throughout the Southeastern U.S.,” added Mark Sixour, (photo at left above) senior managing director and head of HFF’s Atlanta office.


CONTACTS:

Laurie Fish McDowell, HFF Associate Director, Marketing One Post Office Square, Suite 3500 Boston, MA 02109, tel 617.338.0990 fax 617.338.2150 www.hfflp.com lmcdowell@hfflp.com
Manuel A. de Zarraga, HFF Executive Managing Director, 305 448 1333, mdezarraga@hfflp.com

NAI Realvest Brokers $1.4M Sale of Orlando Retail Building

ORLANDO, Fla. – NAI Realvest has negotiated the sale of a 3,800 square foot retail building on a 0.38-acre site at 2100 South Orange Avenue in Orlando for $1,400,000.

Kevin O’Connor and Matt Cichocki, principals at NAI Realvest, represented the buyer, Pavilion TK-Orange Ave. LCC of Charlotte. The seller is Michael Crisante of Orlando.

The building will be renovated for a Tire Kingdom.

NAI Realvest has located a total of six sites for the Tire Kingdom stores in Central Florida.

For more information, please contact:
Kevin O’ Connor, NAI Realvest 407-875-9989 koconnor@realvest.com
Matt Cichocki, NAI Reavest 407-875-9989 mcichocki@realvest.com
Janice Paiano, Marketing Director NAI Realvest jpaiano@realvest.com
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

NAI Realvest Negotiates $1.275M Sales Price for Lakeland, FL Bank Building

LAKELAND, FL -- NAI Realvest has negotiated the sale of a 3,904 square foot bank building and its 0.61-acre site at 1817 Crystal Lake Rd. in Lakeland for $1,275,000.

NAI Realvest broker associate, Larry Bossarte and associate Cheryl Bossarte, represented both the seller, Wachovia Bank NA of Jacksonville and the buyer, Lakeland-based MidFlorida Federal Credit Union, who will open a new branch at the facility.

For more information, contact:
Larry Bossarte, Broker Associate, NAI Realvest lbossarte@realvest.com
Janice Paiano, Marketing Director NAI Realvest jpaiano@realvest.com
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Engler Financial Group Presents Alta Surf, an Exclusive Offering in Myrtle Beach, SC

ATLANTA, GA--Engler Financial Group is proud to present, Alta Surf, (top left photo) an upscale 216-unit apartment community located in Myrtle Beach, Horry County, South Carolina.

Myrtle Beach is one of the most popular vacation destinations in the country and is experiencing rapid economic growth.

Alta Surf is being offered for sale on an unpriced basis and represents an outstanding opportunity to purchase a newly constructed, Class “AA” apartment community in one of South Carolina's most desirable markets.

Built in 2007, Alta Surf has a beautiful clubhouse with a soaring clubroom that welcomes residents and visitors to the community, setting a tone of elegance and luxury. The clubhouse overlooks the resort-style swimming pool and spacious sundeck. Additional community amenities include 35 detached garages, 25 exterior storage units, poolside gazebo with gas grill, a car wash facility, laundry facility, and wi-fi internet in all common areas.

Please follow the link below to view the asset teaser for Alta Surf . If you have an interest in pursuing this outstanding investment opportunity, please execute an electronic Confidentiality Agreement on Peracon.

Click to view the Asset Teaser Alta Surf is located within five miles of several major new developments, including Hard Rock Park, The Market Common, and Broadway at the Beach. One of the most highly anticipated economic developments in Myrtle Beach's history was the recent opening of Hard Rock Park, a $400 million, rock and roll themed amusement park off Highway 501.

The world's first rock n' roll theme park includes more than 40 attractions, a live music amphitheater, shows, restaurants, and retail stores. The 55-acre park aims to attract up to 30,000 visitors a day during the summer months and plans to employ approximately 3,000, making it one of Horry County's largest employers.

The Market Common (photo at left above) is Myrtle Beach's newest upscale shopping destination. Located on 114- acres off Farrow Parkway,The Market Common is a $600 million mixed-use urban street front village which includes more than 40 upscale retail shops, eateries, a 14-screen movie theater, and a residential component. Broadway at the Beach is the largest festival entertainment complex in South Carolina.

The $250 million attraction set on 350-acres features three theaters, 19 restaurants, 100 specialty shops, nightclubs and restaurants. If you have any questions or would like to schedule a tour of Alta Surf , please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting opportunity.


Greg Engler, CEO/President, 678/992-2000, ext. 1 gengler@efgus.com

Pat Jones, Senior Vice President, 678/992-2000, ext. 2 pjones@efgus.com

Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4 kmikkelsen@efgus.com

Monday, May 12, 2008

Simon Property Group Increases Segway(R) PT Fleet for Security Patrols


(Above photo shows segway transporter units in use by local police at Segway Mall in Indianapolis, IN)


Company Now Has Over 225 Units Deployed at More Than 125 Shopping Malls Nationwide


(Simon-owned Arsenal Mall at Watertown, MA is at top left)

INDIANAPOLIS, May 12, 2008/PRNewswire/ -- Simon Property Group, Inc. (NYSE:SPG) and Segway Inc. today announced that Simon Property Group has made a substantial purchase of additional Segway Personal Transporters (PTs) that will increase its current security fleet of Segway PTs to more than 225 machines.


Simon now uses Segway PTs at more than 125 shopping malls in the United States, making it the largest deployment by any company in the shopping center industry.


Among the cities in which Simon Property Group now uses Segway PTs for mall security are San Diego, Las Vegas, Houston, Miami and Boston.


The majority of Simon's fleet consists of the same latest-generation Segway model (i2) recently adopted by the New York City Police Department and numerous international airports.


Simon Property Group first began its investment in Segway PTs for mall security patrols in 2004 with a trial program at mall locations in Texas.


Based upon that successful pilot program, Simon pioneered the use of Segway PTs in retail security by broadening its deployment of Segway PTs and implementing specialized training programs that instructed security personnel on how to use the units in a mall environment. (Photo of Simon-owned Copley Place Mall in Boston is at lower right.)



By 2006, Simon had initiated a national Segway rollout to its properties."From day one of our Segway PT program, our goal has been to give our security personnel the tools they need to ensure that our mall guests and retail partners have a safe and enjoyable experience," says John Petruzzi, Vice President of Corporate Security and Emergency Management at Simon Property Group.


"They have increased the visibility and range of our security personnel, and enabled them to swiftly respond to emergency situations wherever they might occur. (Photo of Simon-owned Fashion Valley Mall in San Diego is at lower left)



"The entire initiative has been very well received by our security personnel, our retail partners and millions of our mall guests. An added benefit is the social interaction between security personnel on Segway PTs and members of the public who are naturally drawn to them out of curiosity."


"Worldwide, hundreds of police and security agencies have adopted the Segway PT for their patrolling, emergency response and community policing needs. According to Jim Norrod, CEO of Segway Inc., much of the momentum that Segway now experiences in the security sector is the result of innovators like Simon Property Group.


"Very early on Simon recognized the potential of Segway PTs to make security personnel more effective, and they took great care in seamlessly integrating them into their operations," says Norrod. "As with every facet of their business, Simon delivers a premium level of service to its customers and retail tenants, and we are extremely proud that they continue to choose Segway products to ensure that their security remains world class."



Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties.


It currently owns or has an interest in 382 properties comprising 260 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at http://www.simon.com/.


Segway Inc. develops intelligent motion control technology known as Segway(R) Smart Motion(TM) that is embedded in the light electric transportation devices it manufactures, such as the well-known Segway(R) Personal Transporter (PT).


Segway Smart Motion provides intelligent motion control that enables a device to monitor its environment, control its motion and make decisions about how it should move.


Segway markets a full line of zero-emissions Segway PTs for sidewalk and cross-terrain use that deliver impressive energy efficiency -- equivalent to 450 miles per gallon/191 kilometers per liter of fuel.


The company's line of Segway Robotic Mobility Platforms (RMPs) offers reliable, durable mobility solutions for robotic applications.Segway Inc., based in Bedford, N.H., U.S.A, has a worldwide distribution network of more than 250 retail points in 61 countries.

For additional information about Segway and to find retail locations, please visit http://www.segway.com/ or call 1-866-4SEGWAY. (Simon-owned Florida Mall is at left photo)


CONTACT:

Jack Klobucar, +1-952-925-9566, jklobucar@addedvalueinc.com, for Segway Inc.; or

Brenda Mahoney, Director, Commercial Sales of Segway Inc.,+1-603-222-6253, brenda.mahoney@segway.com; or

Billie Scott of Simon PropertyGroup, +1-317-263-7148, bscott@simon.com

Taurus Investment Holdings, LLC, Signs American Systems Corporation to Five-Year Lease at Challenger South, Phase II


ORLANDO, FL – Boston-based Taurus Investment Holdings, LLC, has signed American Systems Corporation to a 5-year, 6,355-square-foot lease at its new 75,000-square-foot Challenger South, Phase II, flex-tech building at Central Florida Research Park (photo at left below) in Orlando, FL.

Jeff K. McFadden, (top right photo) SIOR, Managing Partner of its Winter Park-based subsidiary Taurus Southern Investments, LLC, made the announcement.

McFadden and Heidi C. Adams, (top left photo) Director of Leasing of Taurus Southern Investments, represented the landlord. Larry Barninger of Staubach represented the tenant. American Systems Corporation, Chantilly, VA, provides systems engineering, technical and managed services to government and private sector customers.

Taurus Investment Holdings, LLC, is widely known as a strategic real estate owner-operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment.

With 14 offices in the U.S. and seven more across the globe, Taurus Investment Holdings successfully balances local entrepreneurship with global financial strength. It steadfastly holds to the philosophy of preservation of principal, providing superior risk-adjusted returns, and alignment of interests with investors.

Taurus was founded in 1976 and has documented an impeccable track record of significant above-market returns. Since its inception, Taurus has purchased and sold over 20 million square feet of office, industrial, retail, residential and hotel assets.

Since establishing a presence in Central Florida in 1990, Winter Park-based Taurus Southern has become a respected industry leader known for strategic new commercial development and value-added redevelopment projects as well as management, leasing and brokerage of capital assets.

Led by McFadden, who has over 25 years of experience in commercial development and brokerage, Taurus Southern Investments, LLC, is headquartered at 1560 Orange Avenue, Suite 410, Winter Park, FL. For more information, visit http://www.tiholdings.com/.

CONTACT:

Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
khc@crismktg.com
http://www.crismktg.com/
Strategic Marketing, Brand Management,
Publicity and Advertising, and Corporate Communications

Lane Co. Breaks Ground on New Atlanta Apartments

Construction Begins on "No. 10 Park" New Apartments Underway on Perimeter Center East

ATLANTA, GA (May 12, 2008) – Construction has begun on Lane Company's newest development, "No. 10 Park." (rendering above) The $60 million upscale rental community is in the rapidly-growing Central Perimeter area, a prime hub of business and retail activity.

"The Perimeter area is one of the strongest markets in the Metro Atlanta area," said John Bell, (top right photo) Development Partner for Lane Southeast, LLC. "Low apartment vacancies and strong job growth will mean a continued demand for luxury apartments," he added.

Located on Perimeter Center East near Perimeter Mall, (photo at left below) No. 10 Park will have 312 one and two bedroom apartments. Luxury amenities will include a resort-style pool with a sundeck and cabana. The clubhouse will feature a 24-hour state-of-the-art fitness center, WiFi Internet café, conference room and open theater-style kitchen available for resident gatherings.

Exteriors of the contemporary-style five-story building will include landscaped courtyards with seating areas, fountains and gardens. Covered parking will be concealed from public view.

"It's just a stone's throw from Perimeter Mall, so upscale shopping and dining are close at hand," said Development Manager Jeff Sherman. "We're building a truly walkable community."

No. 10 Park is within one-half mile of I-285 and less than two miles from Ga. 400. The proximity to the highways will make it easy to get to Downtown, Alpharetta and Cobb County; it also is within a few miles of a MARTA rail station.

The two equity partners for the development are Eagle Realty Group (a real estate investment management firm and member of W&SFG) and an affiliate of WLD Enterprises Inc. Guaranty Bank is the lender. Lane Realty Construction, LLC is the general contractor.

Lane Management, LLC will lease and manage the completed apartments. The Preston Partnership is the architect. The first residents are expected to occupy their new homes in summer of 2009, followed by full completion in the fall. Lane Company's other recent projects include several apartment communities and condominium developments in Atlantic Station,(photo at right above) the popular live/work/play community in Midtown Atlanta.

In cooperation with The Dawson Co., Lane Southeast is constructing the eon at Lindbergh condominiums, as well as a mixed-use development, in the fashionable Buckhead community. Lane Northeast is building The Quarter, another large mixed-use community, in Towson, Maryland. Many more projects are in the pipeline.
Lane Company (http://www.lanecompany.com/) is a vertically-integrated, full-service multifamily real estate company. Its expertise extends to all areas of real estate including apartment and condominium development, investment, property management, construction, asset management, marketing and sales.

With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to make big things happen by connecting people and communities one home at a time.

Media Contact:

Terri Thornton,
Thornton Communications,
404-687-8760
404-932-4347 (Cell)

HFF Named to Market Sale of Development Site Adjacent to McCormick Place in Downtown Chicago


CHICAGO, IL, May 12, 2008--The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale 2222 South Indiana, a 78,000-square-foot land site (aerial photo above) in downtown Chicago, Illinois.

HFF senior managing director Matthew Lawton (top right photo) and director Daniel Kaufman will lead the investment sales team on behalf of the seller, McHugh Construction.

2222 South Indiana is a 1.8-acre development site located immediately adjacent to Chicago’s 2.2 million-square-foot McCormick Place Convention Center (photo at left below).

Situated directly west of the entrance to the McCormick Place West Building, the site is bounded by South Michigan Avenue, South Indiana Avenue, East Cermak Road and 23rd Street in close proximity to the Museum Campus, Soldier Field, Grant Park and Chicago’s central business district.

It is well-positioned as a hotel, residential and/or mixed-use development site.
“McCormick Place Convention Center is the largest convention facility in the United States attracting over two million trade and public show visitors per year.

The West Building expansion is adding 710,000 square feet of additional meeting space and is expected to generate more than 300,000 new hotel room bookings per year,” said Kaufman. “The 2222 South Indiana development site is an excellent opportunity for a large scale hotel-oriented development.”




CONTACTS:


Laurie Fish McDowell
HFF Associate Director, Marketing
One Post Office Square, Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

Matthew D. Lawton,
HFF Senior Managing Director
(312) 528-3650
mlawton@hfflp.com


Daniel A. Kaufman
HFF Director
(312) 528-3650
dkaufman@hfflp.com

DCT Industrial Trust Announces Leasing Activity in Memphis

More than 770,000 Square Feet of Leases Signed

DENVER, CO, PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (NYSE:DCT), a leading industrial real estate investment trust, has announced significant leasing activity in the Memphis market.

Mallory Alexander International Logistics, a leading third party logistics company, has renewed its lease for 218,000 square feet and expanded into an additional 120,000 square feet to occupy the entire 338,000 square foot building. The lease term is three years.

Neely Mallory, (top right photo) Chairman and Chief Executive Officer of Mallory Alexander International Logistics, commented, "DCT Industrial was able to meet our needs for additional high-quality distribution space. We are pleased that we will be able to grow our Memphis operations without any disruption to our business."

HD Supply Distribution Services renewed its lease for 193,000 square feet and expanded into an additional 91,000 square feet to occupy the entire 284,000 square foot building under a seven year lease term.

DCT Industrial also added a new customer, Quebecor World Logistics, the world's largest distributor of catalogs, publications and newspaper inserts, to a 149,000 square foot bulk distribution facility under a 39 month lease term.


"We are extremely happy with the level of leasing activity that we've seen in Memphis over the past few months," said John Tugman, Vice President and Regional Director of Leasing for DCT Industrial. "Our portfolio of high-quality assets in Memphis enables us to meet the expansion needs of existing customers as well as attract new customers."

DCT Industrial's operating portfolio in Memphis is currently 96.9% leased. The Company owns or manages 5.4 million square feet in Memphis and has one 885,000 square foot building under development.

DCT Industrial Trust Inc. is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.

As of March 31, 2008, the Company owned, managed or had under development 76.9 million square feet of assets leased to approximately 850 corporate customers, including 12.1 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at http://www.dctindustrial.com/.

CONTACT: Sara Knapp, Corporate Communications of DCT Industrial TrustInc., +1-303-597-1550, investorrelations@dctindustrial.comWeb site: http://www.dctindustrial.com/

Sunday, May 11, 2008

SchenkelShultz Architecture, Tampa, Designs Marion County Public Schools' New Horizon Academy at Marion Oaks in Ocala, FL

TAMPA, FL – The Tampa office of SchenkelShultz Architecture designed Marion County Public Schools’ new $33.7 million, 168,000-square-foot Horizon Academy (top right photo) at Marion Oaks, an adaptation of the acclaimed SchenkelShultz middle school prototype design, in Ocala, FL.

Designed to initially accommodate 1,352 students in grades 4 through 8, the facility will ultimately serve as a middle school only. The academy features a secure central courtyard, 32 general classrooms, seven technology labs, three science labs, three development skills labs, and a media center with a closed circuit TV studio.

Also included are a one-story administration office, cafeteria, music suite and gymnasium located at the front of the school to allow for easy after-hours usage. In addition, six vocational labs offer agriculture, business education, family and consumer science, health occupation, technology, and public service education.

Grades 4 and 5 are now open and grades 6-8 will open in August 2008. Ajax Building Corporation, Tampa, FL, serves as construction manager. SchenkelShultz Architecture, Tampa, is located at 4890 W. Kennedy Boulevard, Suite 930, Tampa, FL, phone 813-383-5500.

CONTACT:

Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
Strategic Marketing, Brand Management,
Publicity and Advertising,
and Corporate Communications

Fitch REIT Credit Analysis: Sovran Self Storage Liquidity Concerns Lead to Negative Watch

NEW YORK, NY-- A decrease in liquidity, combined with near-term debt maturities resulted in Fitch placing Sovran Self Storage’s(Sovran) Issuer Default Rating (IDR) on Negative Watch, according to the latest credit analysis update by Fitch Ratings.
Sovran’s existing ratings are supported by strong coverage metrics and solid operating performance. Fitch placed Sovran’s IDR on Rating Watch Negative on April 8, 2008 Fitch's latest credit analysis update on Sovran, which provides more detail supporting Fitch's rating actions, is available on the Fitch Ratings website at ' http://www.fitchratings.com.


Fitch currently rates Sovran and affiliate Sovran Acquisition Limited Partnership (SALP) as follows: Sovran--IDR 'BBB-'.SALP--IDR 'BBB-';--Senior unsecured revolving credit facility 'BBB-';--Senior unsecured term notes 'BBB-'.

Primary credit strengths include the following:--Strong fixed-charge coverage;--Solid property-level fundamentals;--Manageable leverage and adequate risk-adjusted capital.

Primary credit concerns include the following:--Limited liquidity;--Significant near-term debt maturities;--Geographic concentration.

Contacts:
Steven Marks
+1-212-908-9161 or Sean Pattap
+1-212-908-0642, NewYork.

Sandro Scenga
Director Corporate Communications
Fitch Ratings
+1-212-908-0278