Detroit's New North Terminal Concession Program Prepares to Please

DETROIT, MI/PRNewswire-USNewswire/ -- Visitors who attended Detroit Metropolitan Airport's (DTW's) new North Terminal preview events this past weekend had the opportunity to catch a glimpse of the airport's newest concession program additions in the region's newest terminal facility, set to open next week on September 17th.

While visitors were excited by the colorful storefronts and new innovative concepts and brands, the events were simply a prelude to tease travelers' palates in preparation for the opening day shopping and culinary extravaganza, passengers will be treated to in Detroit's newest terminal.

"We are extremely excited to launch this new chapter in Detroit Metro Airport's award-winning concession program," said Wayne County Airport Authority CEO Lester Robinson.(top right photo)

"Our new North Terminal concession program will completely transform our passenger's restaurant, retail and service experience at the airport; it will generate more than 740 new jobs; is projected to increase concession revenue to the airport by more than $7 million annually; and will generate $24 million in new economic impact for the economy of Southeastern Michigan."

Detroit's North Terminal concession program will include more than 40,000 sq. ft of new, high quality, vibrant, customer-focused concession space, and when combined with the McNamara Terminal program, makes DTW one of the largest, newest, and most diverse airport concession programs in the country.

CONTACT:

Brian Lassaline of Detroit Metropolitan Wayne County Airport,+1-734-247-7274

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

New Tenant at Park Plaza Professional Center, Pembroke Pines, FL

PEMBROKE PINES, FL /PRNewswire/ -- Park Plaza Professional Center (bottom left photo) announced the signing of a lease with Prescription Pad Pharmacy (top right photo, Chris Osborne, pharmacist-owner) for 2000 square feet at Park Plaza Professional Center.

The project, on 9.77 acres, is being developed by locally based Sky Development Inc., and will consist of two four-story, 80,000 SF buildings with retail on the first floor.

The project will include a four-story parking garage with 538 parking spaces to be accompanied by an additional 288 surface parking spaces.

The efficient floor plans will range from 1,500 to 20,000 SF and will offer attractive tenant improvement allowance. The project is also being "Green" designed for LEED certification.

Prescription Pad Pharmacy will occupy a portion of the first floor of the four-story building when it takes occupancy at the end of 2009.

This will be their second location in Broward County.

"This facility will be developed to meet the growing demand for high-quality medical/professional office space in the Pembroke Pines area & what makes this project unique is that it is adjacent to Memorial Hospital," commented Alex Tukh, Senior Vice President of Sky Development Inc. "We are very pleased to welcome this new tenant to this state-of-the-art building," he added.

CONTACT:

Alex Tukh, Sky Development, Inc., +1-305-933-4646

alex@skydevelopmentinc.com

http://www.prescriptionpadonline.com/

http://www.parkplazaprofessional.com/

Prescription Pad Pharmacy (http://www.prescriptionpadonline.com/)

Cuhaci & Peterson Architects Awarded Contracts to Design Retail Centers in Seminole, Sumter Counties

Completes Designs of Publix Supermarket in Coral Springs

ORLANDO, Fla. — Cuhaci & Peterson Architects, Inc. based in Orlando’s Baldwin Park, was awarded a contract to design retail centers in Seminole and Sumter Counties.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects, said the firm recently started design work to build the 10,000 square foot Orange Commons a retail center, Primerica Group I, Inc. of Tampa is developing on S.R. 46 and Orange Blvd. in Seminole County.

Cuhaci & Peterson Architects recently started design work to build Bushnell Commons, (map top left) a 10,000 square foot retail center at C.R. 48 and I-75 in Bushnell. Peterson said Bushnell Equity is developing the facility.

The Orlando-based architectural firm recently competed design of a new Publix Supermarket under construction in Coral Springs. Brandon Company of Orlando is developing the 45,000 square foot facility.

For more information, contact
Lonnie Peterson, Chairman Cuhaci & Peterson Architects, 407-661-9100
Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Development site along Chicago’s Magnificent Mile Corridor listed for sale by HFF

(The Magnificent Mile of retail real estate, Downtown Chicago)


CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale a 13,700-square-foot land site located in Chicago’s Magnificent Mile Corridor.

The HFF investment sales team is being led by managing directors Jeffrey Bramson (top left photo) and Jaime Fink (top right photo) as well as directors Daniel Kaufman and Kenneth Glomb who will market the site on behalf of the seller.

The property does not have a formal asking price and is being offered free and clear of debt.

The 0.31-acre site is currently improved with a 20,326-square-foot building. The rectangular land parcel is entitled for a variety of uses including hotel, residential and mixed-use.

Located at 237-241 East Ontario, (map bottom right) the property is adjacent to North Michigan Avenue, Northwestern Memorial Hospital’s campus and Lake Michigan in the Streeterville area of Chicago.

“Streeterville continues to offer investors the strongest retail, residential and hotel market fundamentals in downtown Chicago, making it the most liquid/supply constrained market for development sites in the city,” said Bramson.

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, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Jeffrey M. Bramson, HFF Managing Director, 312 528 3650, jbramson@hfflp.com

Kenneth J. Glomb, HFF Director, 312 528 3650, kglomb@hfflp.com

Jaime M. Fink, HFF Managing Director, 312 528 3650, jfink@hfflp.com

Daniel A. Kaufman, HFF Director, 312 528 3650, dkaufman@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

San Antonio, TX Retail Center Gets $10.6M Loan

SAN ANTONIO, TX – Marcus & Millichap Capital Corporation (MMCC) has arranged a $10.6 million loan for the refinance of Bandera Heights, (top right photo) a 159,528-square foot retail center located at 7102-7098 Bandera Rd. in San Antonio.

Sharone Sabar, an associate in the Encino office of Marcus & Millichap Capital Corporation, arranged the financing package for Bandera Heights.

“This was a challenging deal because the retail center had two anchor tenants that occupied about 45 percent of the center’s space. The tenant had leases that were rolling over soon,” says Sabar. “MMCC was able to find a lender that could close the deal within a tight time frame.

“The borrower wanted to refinance the seller’s note, but was unable to find another funding source,” adds Sabar. “MMCC found a lender that allowed the borrower to take advantage a low adjustable-interest rate with an option to fix the rate any time during the term of the loan.”

Financing for Bandera Heights was provided by a commercial bank at an adjustable interest rate of one-month LIBOR, plus 310 basis points. Terms of the loan were for five years with a 30-year amortization schedule. Loan-to-value was at 65 percent.

“This type of transaction is indicative of the market trend to price off of swaps instead of the U.S. Treasury,” shares Sabar.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704

Marcus & Millichap Capital Corp. Arranges $6.8M Loan for Class A Office Building in Northern California

GRASS VALLEY, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $6.8 million loan for the construction of a Class A office building (rendering top right) located at 200 Litton Dr. in Grass Valley. The property is a 45,200-square foot build-to-suit for AJA Video.

Christopher Du Pont, an associate director in the Sacramento office of Marcus & Millichap Capital Corporation, arranged the construction financing for the Class A office building, a build-to-suit project for AJA Video.

“MMCC provided the client with very favorable terms, including origination at 50 to 75 basis points better than other offers they had received,” states Du Pont.

"As a result of MMCC’s value-add to the deal and our client, we created a long-term mutually beneficial relationship for future loan originations and financing.”

Financing for this property was provided by a commercial bank at one-month LIBOR, plus 250 basis points. Terms of the loan are for 15 months. Loan-to-value is 85 percent. (Downtown Grass Valley photo, bottom left)

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704

SPECIAL REPORT: Investment Needs, Tight Liquidity May Dim Russian Food Retailers' Bright Future, Says S&P

MOSCOW ---Russia's food retail sector is booming, but the need for significant investment in infrastructure, high debt burdens, and tight liquidity threaten to dampen this stellar performance, according to a new Standard & Poor's Ratings Services' report titled "Significant Investment Needs And Tight Liquidity May Dim Russian Food Retailers' Bright Future."

(St. Basile Spasskaya Tower in Red Square, Moscow, top left)

The retail food market grew more than 15% net of inflation in 2007, while retail spending per capita in Russia is still between one-half and one-third that of developed markets, indicating the potential for future growth.

However, underdeveloped logistics, such as a lack of transportation and warehouse facilities as well as the limited availability of commercial real estate will require heavy investment from retailers operating in Russia.

"This deficiency translates into a long-standing need for external capital from sources varying from equity to debt, from bilateral bank loans and private equity placements to public bond issues and IPOs on local and international stock exchanges," said Standard & Poor's credit analyst Anton Geyze.

The retail sector has amassed a high debt burden as aggressive sector growth continues and companies require equity injections on a regular basis to keep financial policies manageable.

(Entrance to Kremlin Senate, middle right photo)

Consequently, companies with strong parental support in the form of either large multinational food retailers or local investment holdings enjoy better financial flexibility. However, Standard & Poor's does not always factor parental support to a full extent into the ratings, because in some cases this is difficult to quantify and far from certain.

Despite generally bright industry prospects, a downturn in the retailers' operating performances or financial market disruption may undermine support from investors and prevent companies from rolling over significant short-term debt.

(Russia's own White House complex, seat of Russia's government, middle left photo)

The report points to a series of recent defaults by Russian midsize food retailers, which serve as a vivid reminder of the risks that exist in the sector, and concludes that liquidity management practices are becoming a key factor for companies' credit quality.

(Typical Russian petrol (natural gas) station, lower right photo)

Overall, the credit quality of Russia's largest food retailers if viewed on a stand-alone basis falls mostly in the 'B' rating category, a level at which we expect companies to remain in the short to medium term unless their liquidity positions deteriorate.

The article is part of a special report titled "Ten Years After Default, New Risks Emerge For A Resurgent Russia," in the Sept. 17 issue of CreditWeek, Standard & Poor's weekly magazine on credit risk.

Media Contact:

David Wargin, New York, (1) 212-438-1579, david_wargin@standardandpoors.com

Analyst Contacts:
Anton Geyze, Moscow (7) 495-783-4134
Nicolas Baudouin, Paris (33) 1-4420-6672
Industrial Ratings Europe

The Lynd Company Expands Operations to South Florida

MIAMI, FL – The Lynd Company, a 25-year-old property management firm headquartered in San Antonio, Texas, has expanded its operations into South Florida and has hired seasoned real estate executive Andrew Ginsburg (top right photo) to head up its new regional office.

Ginsburg will serve as Regional Vice President and report directly to the company’s Chief Operating Officer David Lynd. (top left photo)

The Lynd Company specializes in the management of medium and large size apartment complexes. It currently has 35,000 units under management in 41 markets across13 states, primarily in Texas and the Southeast.

The company is also ranked as the 35th largest national operators on the Multi Housing Council’s list of “Top 50 Apartment Managers” in the United States for 2008.

The Lynd Company is targeting apartment complexes in Miami-Dade, Broward and Palm Beach counties with a minimum of 150 units. According to David Lynd, the company decided to expand into South Florida because it has identified a tremendous opportunity to leverage its technological and customer-centric competitive advantages.

(Biscayne Bay Bridge, linking Miami to Miami Beach, middle right photo)

“One of the biggest complaints with multi-family managers, especially in South Florida, is the lack of customer service and communication with tenants,” Lynd said.

“This is where we shine and what sets us apart. We believe we can bring in our brand of management and set a new standard for the region.”

Ginsburg plans to grow the new office by targeting both top-tier class “A” and “B” assets, as well as underperforming assets, where Lynd can add maximum value.

“We feel that there is a substantial opportunity to grow this market by tapping into the dissatisfaction of tenants and owners that are not happy with the way their apartments are currently being managed,” Ginsburg said.

“With our support systems and operational protocols already in place, we are able to implement effective changes to immediately reduce costs and turnover, and improve revenues and profits from operations."

MEDIA CONTACTS:

Todd Templin or Marielle Sologuren, Boardroom Communications, 954-370-8999
ttemplin@boardroompr.com or msologuren@boardroompr.com

NAI Realvest Negotiates $512,000 Sale of Office/Flex Building in Orlando

ORLANDO, FL -- NAI Realvest has negotiated the sale of a 3,664 square foot office/flex building at 220 Weber St. in Orlando

Tom Kelley CCIM, principal at NAI Realvest, negotiated the transaction representing the sellers, Ken Halbert and Richard Looper of Orlando.

The buyer, Park Central Adventures II, LLC paid $512,000 for the property.

For more information, contact:

Tom Kelley, CCIM Principal NAI Realvest 407-875-9989 tkelley@realvest.com

Janice Paiano, Director of Marketing NAI Realvest jpaiano@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142

Hampton Hotels Launches College Football Broadcast Ad Campaign and Promotion

“Touchdown at Hampton.Wake Up a Winner” Campaign Offers Traveling Tailgaters Chance to Win a Trip to “Three Bowl Games in Three Days”

MEMPHIS, TN, Sept. 12, 2008 – In anticipation of the 2008/2009 college football season, Hampton® Hotels, a leader in the hospitality industry, today unveiled its college football broadcast advertising campaign and promotion.

The initiative is designed to enhance brand image among the traveling college alumni community as well as future business travelers, encourages loyalty for Hampton Hotels that parallels guest appreciation for their favorite team.

(Notre Dame Stadium, South Bend, IN, 80,795 capacity, top left photo)

The “Touchdown at Hampton. Wake Up a Winner” broadcast campaign will kick-off on September 13 with a series of 30 and 15 second television commercials.

The spots will highlight college super fans and their loyalty to Hampton in a laugh out loud “sportscaster spoof” kind of style.

In addition to the new TV ads, Hampton Hotels’ Touchdown Rate will be available online at http://www.hampton.com/ now through October 27, 2008 (for a stay consumed by November 2, 2008), which includes 10 percent off the Best Available Rate.* The commercials will air on ESPN, FSN, Big 10 Network and Raycom.

The print aspect of the campaign will roll-out in mainstream daily newspapers, such as USA Today and The Wall Street Journal, as well as in the specialty magazine, Sporting News.

On high-traffic websites, such as USA Today.com and weather.com, Hampton Hotels will stream rich media banners and place interactive videos aimed to strengthen the image of the campaign and broaden its reach to web-based communities.

(Neyland Stadium, Knoxville, TN, 104,079 capacity, middle right photo)

Former college football All-American and Heisman Trophy winner, Marcus Allen, (top left photo) will participate in a series of public relations efforts in support of the advertising campaign, including an aggressive consumer outreach initiative targeting local coll ege football markets and major national sports media.

(Ben Hill Griffin-Florida Field, Gainesville, FL, 90,716 capacity,middle left photo)

“As a professional athlete and now a businessman, I’m on the road quite a bit,” said Marcus Allen.

“Where to stay is one of the most important decisions I make when booking travel and it’s important that I can rely on my hospitality destination for comfort and ease. Hampton Hotels regularly provides guests with friendly care that is unmatched anywhere else.”

The premier promotional element of the campaign is the “Three Bowl Games in Three Days” giveaway. Beginning September 4 through October 27, 2008, college football fanatics who secure their lodging at hampton.com using promo code SCORE will be eligible to win a Grand Prize trip to three major college football bowl games in three consecutive days.

“We’re thrilled to have the opportunity to reward one person with the ultimate in sports travel packages,” stated Judy Christa-Cathey (top right photo) , vice president of brand marketing for Hampton Hotels.

“Attending three bowl games three days in a row is a challenge, but one that’s a once-in-a-lifetime experience for any college football fan.”

(Michigan Stadium, Ann Arbor, MI, 107,501 capacity, bottom right photo)

This Grand Prize consists of airfare and game tickets, accommodations at Hampton Hotels, $250 in spending money per person, per day and limo service for the entire trip. Secondary Prizes include GPS Systems, PlayStation 3 consoles.

This college football season marks Hampton Hotels’ second year as the official sponsor of ESPN Saturday Night Prime Time College Football. Those interested in learning more about the “Touchdown at Hampton. Wake up a Winner” campaign can visit http://www.hampton.com/ .

CONTACTS:

Charmaine Easie-Samuels, Hampton Brand Communications,901-374-6462, charmmailto:charmaine.easie-samuels@hilton.com

Andrew Garson, Cohn & Wolfe, 310-967-2907,

andrew.garson@cohnwolfe.com

Chris Daly, Vice President, Daly Gray Public Relations, ph: 703-435-6293, chris@dalygray.com

Two New Faces at Marcus & Millichap

MARCO LALA JOINS MANHATTAN OFFICE OF MARCUS & MILLICHAP AS ASSOCIATE VICE PRESIDENT INVESTMENTS

The former partner at Massey Knakal Realty brings more than 10 years of experience to his new position

NEW YORK, N.Y.– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Marco Lala (top right photo) as an associate vice president investments in the Manhattan office, according to Edward Jordan, (middle left photo) regional manager of the Manhattan office.

“Marco is one of the most active investment specialists in The Bronx, northern Manhattan and Westchester markets, generating nearly $1 billion in transactions and selling hundreds of properties during the last few years,” says Jordan. “We are honored to have Marco join the Marcus & Millichap team.”

As an associate vice president investments, Lala will handle a variety of property types, including multi-family, commercial, retail, industrial and vacant land investment sales.

“I’m very excited about joining the Manhattan office of Marcus & Millichap. My local investment sales experience, combined with the firm’s national platform, will enable my clients to access investors throughout the United States,” says Lala.

“The resources and tools offered by the Manhattan office will allow me to strengthen my core business in The Bronx, Manhattan and lower Westchester.”

Prior to joining Marcus & Millichap, Lala was a partner at Massey Knakal Realty, where he spearheaded the company’s expansion effort in the outer Boroughs.

Under his leadership, Lala and his partners grew the office from 20 staff members to nearly 200 brokers and support staff.

In 2007, Lala had the second-highest number of transactions of any investment sales agent at Massey Knakal. In 2006, he generated one of the largest commissions in that firm’s 20-year history with the sale of a 22-building Bronx and Brooklyn portfolio for more than $50 million.

Lala’s first job in commercial real estate was with Marcus & Millichap in 1997. He graduated from Manhattan College with a bachelor’s degree in business marketing.

DEAN SANDQUIST NAMED FIRST VICE PRESIDENT INVESTMENTS IN SAN FRANCISCO OFFICE

SAN FRANCISCO, CA— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Dean Sandquist (bottom right photo) to the position of first vice president investments.

The achievement of first vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Jeffrey Mishkin, (bottom left photo) regional manager in the firm’s San Francisco office.

Sandquist joined Marcus & Millichap in 1981 and specializes in multi-family investment sales.

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

Marcus & Millichap Sells 173-Unit Student-Housing Community in Shippensburg, PA for $19.38M

SHIPPENSBURG, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Bard Townhouses, (top right photo) a 173-unit student- housing community in Shippensburg.

The sales price of $19.38 million represents $112,023 per unit.

Brian Kelly, a student-housing investment specialist in the Indianapolis office of Marcus & Millichap, represented the seller, a Pennsylvania-based student-housing owner and manager. Spencer Yablon, (middle left photo) regional manager of the firm's Philadelphia office, assisted in this transaction.

“Bard Townhouse was an excellent opportunity for the investor to acquire a well-maintained student- housing community that is 100 percent occupied and located directly across the street from Shippenburg University, which has an enrollment of approximately 7,600 students,” says Kelly.

Located at 100 Bard Drive, the 176,280-square foot apartment community consists of 1423 two-story buildings situated on a 32.54 acre lot.

Bard Townhomes features a mix of two-, three- and four-bedroom units. Rents are collected before the start of each semester and leases are signed by the unit for nine months at a time with available summer leases.

Originally built in 1988, the apartment community has recently undergone the construction of new units on the property. Of the 173 total units, 83 were built after 2002, including 54 units in 2004.

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

HFF named to market sale of Jefferson at 55/77 Water St. in Norwalk, CT

CHICAGO, IL – The Chicago and Boston offices of HFF (Holliday Fenoglio Fowler, L.P.) have been named to market for sale Jefferson at 55/77 Water Street, a mixed-use property containing 136 multifamily units and approximately 28,000 square feet of commercial space in Norwalk, Connecticut.

Senior managing director Matthew Lawton (top left photo) and director Sean Fogarty (middle right photo) of HFF Chicago along with directors Coleman Benedict (bottom left photo) and Janet Krolman (top right photo) of HFF Boston are representing the seller, JPI, Inc.

The property is listed without a formal asking price. JPI, Inc. specializes in the acquisition, development and management of residential communities in the U.S. and Canada.

Completed in the Fall of 2007, Jefferson at 55/77 Water Street has one- and two-bedroom units averaging 869 square feet each. Units feature stainless steel appliances, bamboo floors, full-size washers and dryers and waterfront views of the Long Island Sound.

Community amenities include a 24-hour fitness center, outdoor heated swimming pool, club lounge, business center and underground and surface parking.

The residential units are currently 97% occupied and ownership has recently signed a lease with Virgin Atlantic for more than 16,000 square feet, which will be their North American headquarters.

Located on the waterfront in the South Norwalk (SoNo) area of Norwalk, Jefferson at 55/77 Water Street is adjacent to the Maritime Aquarium and within walking distance of the MetroNorth commuter rail station providing access to Grand Central Station in New York City.

“Jefferson at 55/77 Water Street (bottom right photo) is considered one of the finest multifamily assets available in today’s marketplace,” said Lawton. “It is located in SoNo, which has gone through a successful redevelopment and revitalization with a profusion of new restaurants, clubs, boutiques, antique stores and art galleries attracting young professionals and couples seeking a vibrant, trendy, pedestrian-friendly environment.”

“Given the quality of the units and the proximity to the commuter rail, ownership will be able to effectively compete within the market for the discriminating renter who will be willing to pay a premium for quality housing in a thriving, urban location,” added Benedict.

CONTACTS:

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

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com