Saturday, February 21, 2009

Keene Completes 45,000-SF Publix at Walden Woods

MAITLAND, FL – Keene Construction Company, Maitland, one of America’s largest retail contractors, completed the new 45,000-square-foot Publix at Walden Woods at 2204 James L. Redmond Parkway in Plant City, in Hillsborough County, FL.

Developed by RMC Property Group, Tampa, the redevelopment project was designed by Cuhaci & Peterson Architects, Orlando, and involved demolition of an existing Publix, construction of the new Publix store as well as a new canopy for the adjacent retail stores. Notably, Keene has constructed over 140 Publix stores for the Lakeland, FL-based grocery giant.

Contact: Kenneth H. Cristol, 407-774-2515

Terry's Electric Completes Job at Vacation Village at Parkway Resort

KISSIMMEE, FL – Terry’s Electric, Inc., one of Florida’s leading electrical contractors, completed an electrical contract for the new multimillion-dollar, 8-story, 259,100-square-foot Vacation Village at Parkway Resort, (top left photo) Buildings 18 and 19, in Kissimmee, FL.

Winter Park Construction, Winter Park, FL, served as general contractor for the 224-unit project according to Mark Neveu, President of Kissimmee-based Terry’s Electric.

Contact: Kenneth H. Cristol 407-774-2515

SchenkelShultz Designs Addition at Florida Atlantic University

BOCA RATON, FL – SchenkelShultz Architecture, West Palm Beach, one of Florida’s leading green design firms, designed Florida Atlantic University’s new $5.6 million, 15,283-square-foot Office Depot Center (top right photo) for Executive Education addition in Boca Raton, FL.

Serving as a joint-use facility for Florida Atlantic University’s Graduate Business program and Office Depot, the state-of-the-art facility was designed to provide a Class A corporate office environment to serve as a training center for Office Depot executive employees.

Integrating seamlessly with the existing FAU College of Business, the design for the two-story facility features maximum use of natural daylight and includes: a tiered, 80-seat seminar/case study room with distance learning capabilities for worldwide training; meeting rooms equipped with video conferencing; classrooms and nine breakout rooms for small group discussion; student gathering/collaborative study areas; and conference rooms and offices for the center’s director and staff.
Suffolk Construction Co., West Palm Beach, served as construction manager for the project.

Contact: Kenneth H. Cristol 407-774-2515

Blockbuster Video Extends Lease in Kissimmee, FL

KISSIMMEE, FL – Deerfield-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that Blockbuster Video has extended its multi-year, 2,972 square-foot lease at Konover South’s Publix-anchored, 107,138-square-foot Poinciana Place shopping center at US 192 and SR 535 in Kissimmee, FL.

Company leasing specialist Michael Fetherston represented Konover South in the transactions. Other major tenants include Smokey Bones Barbeque & Grill, as well as A&H Photo, Elite Vacations, Gemstone Properties, Hershey’s Ice Cream, NYPD Pizza and others.

Contact: Kenneth H. Cristol, 407-774-2515

Tri-City Completes $747,000 Job at Fairview Grande Condos, Orlando


ORLANDO, FL – The Multi-Family and Residential Division of Tri-City Electrical Contractors, Inc. completed $747,000 of work at the new 6-story, 50-unit, 90,560-square-foot Fairview Grande Condominiums (top right photo) overlooking Lake Fairview in Orlando, FL, under its contract with Fairview Grande Development, Orlando, FL.

Contact: Kenneth H. Cristol 407-774-2515

Marcus & Millichap Capital Corp. Arranges $7M Loan for El Segundo, CA Shopping Center

EL SEGUNDO, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7 million fixed-rate loan for the acquisition of a 12,549-square foot Class A shopping center, (top right photo) located at 2251-2263 Maple Ave. and 821-837 Douglas St., in El Segundo.

Jake Roberts and Anita Paryani, both senior directors in the firm’s West Los Angeles office, and Sharone Sabar, an associate director in the firm’s Encino office, arranged the financing package for the Class A retail property.

“The borrower came to MMCC seeking financing for the acquisition of a newly constructed retail center,” says Roberts.

“The property was fully occupied by such tenants as Starbucks, Noah’s Bagels, Subway and Scottrade. The purchase price was $607 per square foot, and the borrower was seeking a long-term, fixed-rate loan.

"MMCC was able to arrange fixed financing at 4.74 percent,” states Roberts.


“We were able to negotiate a favorable rate during a time when the economic outlook on retail properties is less than favorable.”

Financing for this transaction was provided by a commercial bank at the rate of 4.74 percent. Terms of the loan are for seven years with a 30-year amortization schedule. Loan-to-value was 65 percent.


“What sets this transaction apart is that MMCC was able negotiate a 100 percent recourse loan for the borrower,” adds Roberts.



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

Cushman & Wakefield's Matthew McKeever Closes 2 Lease Deals Totaling 56,000 SF in Orlando, FL


C&W negotiates lease for IDEAS move to downtown’s emerging "Creative Village"

ORLANDO, FL – Cushman & Wakefield of Florida, Inc. (C&W) announced a new, long-term lease which relocates IDEAS Innovation Studio from the backlot of Disney’s Hollywood Studios to a 15,000 square foot office in downtown Orlando’s "Creative Village."

Matthew McKeever, CCIM, SIOR, Senior Director, Office Brokerage Services represented the landlord, Orlando Sentinel Communications Company in the transaction that brings the award-winning entertainment, learning and marketing firm to 64 East Concord Street after more than 7 years at the Disney property in Lake Buena Vista.

C&W negotiates leases for new Concorde Career College campus in Orlando

ORLANDO, FL– Cushman & Wakefield of Florida, Inc. (C&W) announced two new, long-term leases, which bring a new vocational college to Orlando. Representing the tenant, Concorde Career College, Matthew McKeever CCIM, SIOR, Senior Director, Office Brokerage Services penned the deals worth more than $10 million.

Offering degrees in medical assisting, dental assisting and medical office administration, Concorde Career College will occupy more than 41,000 square feet in Orlando Central Center located behind Fashion Square Mall. The college will be the sole occupant of the Commodore Building at 3444 McCrory Place, and the Bainbridge Building at 3421 Lawton Road.

Committing to a lease in excess of 10 years, the college’s new Orlando campus will be Concorde’s fourth for Florida with other locations in Tampa, Jacksonville and Miramar.


Contact: Brook Hines, 407 541 4401, brook.hines@cushwake.com

Turner Completed $3B of Green Construction During 2008

NEW YORK, NY/PRNewswire/ -- Turner Construction Company, the nation's leading builder of "green buildings," completed more than $3 billion of green construction projects during 2008.

In addition, the firm's sustainable construction work has grown to 40% of its backlog.

Turner's green building projects are in wide array of building types including in the education, commercial, healthcare and aviation segments.Turner has completed 80 projects that have been LEED Certified by the U.S. Green Building Council (USGBC).

An additional 130 projects are LEED Registered. These projects are employing strategies to improve a building's performance in five key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

For a complete copy of the company's news release showing a list of Turner's active green projects during 2008, please contact Shannon Eckhart of Turner Construction Company,+1-212-229-6084. Web Site: http://www.turnerconstruction.com/

Arbor Closes Two Apartment Loans Totaling $13M

Kings Bridge Apartments in Roswell, GA Obtains $10,614,100 Fannie Mae DUS® Loan

Uniondale, NY (February 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $10,614,100 loan under the Fannie Mae DUS® ARM product line to refinance the 312-unit complex known as Kings Bridge (top right photo) in Roswell, GA.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

The loan was originated by Ronen Abergel, (top left photo) Director, in Arbor’s full-service New York, NY lending office. “The terms of the loan allowed the borrower to refinance their current debt, yet maintain flexibility in the event of reversion in the near future,” said Abergel.


Thompson Drive Complex in Randolph, MA Receives $2.69M Loan

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,693,500 loan under the Fannie Mae DUS® Small Loan product line to refinance the 24-unit complex known as Thompson Drive in Randolph, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.51 percent.

The loan was originated by John Kelly,(bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“This transaction demonstrates Arbor’s continued ability to provide the most favorable financing available for multifamily properties.

"Our client has owned the property for several years and has done an excellent job of maintaining a quality asset,” said Kelly. “Arbor’s small balance multifamily program continues to be an excellent financing option for owners/operators across the country.”

CONTACT: Ingrid Principe, PH 516 506 4298. FX 516 542 2555. IPrincipe@arbor.com

Friday, February 20, 2009

Grubb & Ellis Named to 2009 Global Outsourcing 100 by International Association of Outsourcing Professionals

SANTA ANA, CA /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, announces that the International Association of Outsourcing Professionals(TM) has named Grubb & Ellis to The Global Outsourcing 100(TM), an annual ranking of the world's best outsourcing service providers and advisors.

"We are thrilled to have been recognized by IAOP for our ability to provide expert outsourcing services to multinational clients," said Dylan Taylor, (top right photo) President, Global Client Services.

"For Grubb & Ellis, 2008 was a year of unparalleled growth, as we significantly expanded relationships with many of our existing clients and won several new outsourcing agreements. We anticipate building on that success in 2009 by continuing to help our clients create and implement integrated solutions that address their unique business needs."


For a complete copy of the company's news release, please contact Janice McDill of Grubb & Ellis Company, +1-312-698-6707, janice.mcdill@grubb-ellis.com


Web site: http://www.grubb-ellis.com/
http://www.outsourcingprofessional.org/

Oviedo Commerce Center gains motorcycle shop in lease negotiated by C&W

ORLANDO, FL –Cushman & Wakefield of Florida, Inc. (C&W) announced the lease of 3,200 sf in the Oviedo Commerce Center (top left photo) for the relocation of Metal Mafia Custom Motorcycles’ retail showroom and shop.

Retail Brokerage Associate Mindy Boehm negotiated the 5-year lease, representing the landlord, Oviedo Commerce Center, LLC, in the transaction.

Contact: Brook Hines, Marketing Associate, Cushman & Wakefield, Tel: 407-541-4401, brook.hines@cushwake.com. http://www.cushwake.com/

Palmer Electric completes two office buildings in SouthPark, Orlando, FL

WINTER PARK, FL, Feb. 20, 2009 — Palmer Electric Company has completed contracts totaling just under $1 million for the electrical work for two, new office buildings in SouthPark Center, (top left and right bottom photos) a commerce park in Orlando, Fla.

Under its contracts with general contractor Brasfield & Gorrie LLC, Palmer completed 800 SouthPark, a two-story, 70,533-square-foot building, and 900 SouthPark, a two-story, 18,900-square-foot building.

Both buildings were developed by Flagler Development Company Land Holdings LLC of Coral Gables, Fla. HuntonBrady Architects of Orlando, Fla., provided architectural design. CHPA Consulting Engineers of Maitland, Fla., provided electrical engineering.

Palmer Electric Company is a provider of electrical contracting and service to contractors and builders for new construction and renovations of residential, commercial, institutional and industrial buildings as well as providing service and repairs to utilities, businesses and consumers.

Founded in 1951, the Company employs a staff of 350 from its headquarters in Winter Park, Fla.

For additional information, visit http://www.palmer-electric.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, http://www.pr-works.com/

Home Properties Reports Fourth Quarter and Year-End 2008 Results

ROCHESTER, N.Y. /PRNewswire-FirstCall/ -- Home Properties (NYSE: HME) hs released financial results for the fourth quarter and year ended December 31, 2008.

All results are reported on a diluted basis.
"Home Properties' solid 2008 operating results and record Funds from Operations per share once again reflect the Company's defensive characteristics, which have contributed to superior sector performance in a recessionary environment," said Edward J. Pettinella, (top right photo) President and CEO.
"We expect this outperformance to continue in 2009 as Home Properties is the only apartment REIT projecting an increase in net operating income for the year."

For a complete copy of the company's news release and financials, please contact
David P. Gardner, Executive Vice President and Chief Financia lOfficer, +1-585-246-4113, or Charis W. Warshof, Vice President, InvestorRelations, +1-585-295-4237, both of Home Properties

Thursday, February 19, 2009

Liquid Asset Partners to Liquidate Circuit City's 8 Distribution Centers, 2 Corporate Offices and 4 Service Centers.

Thousands of Sections of Pallet Racking; Hundreds of Fork Lifts; Very Modern Conveyor Systems; Scanning Equipment; and the Entire Contents of the Corporate Offices, Including Cubicles, Desks, Chairs, Computers, Laptops, Printers, Supplies and Thousands of Other Items

GRAND RAPIDS, MI--(BUSINESS WIRE)--On February 17th 2009, Liquid Asset Partners LLC of Grand Rapids, MI, was chosen to liquidate Circuit City's Furniture, Fixtures, and Equipment (FF&E) from their 8 Distribution Centers & 2 Corporate Offices with some facilities near 1 million sq. ft. in size.

Bidding took place in Virginia with Liquid Asset Partners LLC bidding against the JV comprised of SB Capital, Tiger Capital, Hudson Capital, Great American, & JG Resources. Liquid Asset Partners was selected because it made the bid which provides sales@liquidassetpartners.com [Circuit City] with the best return for creditors.

The sales will be conducted at each location and prospective buyers should contact Liquid Asset Partners LLC at phone # 616.719.5917, email Sales@LiquidAssetPartners.com or visit their website at
http://www.liquidassetpartners.com/ to view inventories and photos.

To be sold: Thousands of sections of pallet racking; hundreds of fork lifts; very modern conveyor systems; scanning equipment; and the entire contents of the corporate offices, including cubicles, desks, chairs, computers, laptops, printers, supplies and thousands of other items.

The Corporate Offices are located at 9950 Mayland Dr., Richmond, VA and the Distribution Centers are located at:

1100 Circuit City Rd, Marion, IL / 1,078,450 SF
680 S Lemon Ave, Walnut, CA / 918,848 SF
1901 Cooper Dr, Ardmore, OK / 754,000 SF
19925 Independence Blvd, Groveland, FL / 710,000 SF
4000 Township Line Rd, Bethlehem,PA / 640,000 SF
400 Longfellow Court, Livermore, CA / 615,078 SF
14301 Mattawoman Dr, Brandywine, MD / 394,492 SF
501 S. Cheryl Lane, Walnut, CA / 404,492


Bill Melvin Jr., (top left photo) CEO of Liquid Asset Partners LLC said, "We are very excited about the prospects of this sale. We're thrilled to join the bid process and be chosen to run the liquidation.

"My family and I have been doing this type of work for over thirty years. Our experience in dealing with large facilities of warehouse and office equipment is unmatched and our ability to bring a wide variety of equipment to market quickly was a major consideration in the bidding."

Melvin says, "It's our job to pick up the pieces from the ground and put them back into use in the marketplace. These facilities are full of newer electronics, conveyor systems, and warehouse and office equipment. It's going to be an opportunity of a lifetime for any buyers."

Due to the short window of time allowed for the sale, Liquid Asset Partners will be soliciting offers from all interested buyers and making sales rapidly regardless of cost or loss. These facilities are enormous and must be emptied in a very short time, so Liquid Asset Partners will listen to any and all offers.

"The corporate offices alone are over 680,000 square feet and have millions of dollars worth of equipment to be sold in a matter of weeks." Melvin says, "Anyone interested in warehouse equipment, material handling equipment, or office equipment should make contact with us immediately.

" This is an opportunity for buyers to purchase equipment for their homes or businesses at a fraction the cost of new."

Liquid Asset Partners will be advertising this nationwide and will be offering fantastic bargains.

Liquid Asset Partners, LLC is located in Grand Rapids, Michigan.

Contact:
Liquid Asset Partners, LLC, Bill Melvin Jr., 616-719-5917, sales@liquidassetpartners.com

NHP Reports 2008 Fourth Quarter and Full Year Results

NEWPORT BEACH, CA/PRNewswire-FirstCall/ -- Nationwide Health Properties, Inc. (NYSE:NHP) has announced results of operations for the fourth quarter and the year ended December 31, 2008.

Contemporaneously with this press release, the Company has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2008 with the Securities and Exchange Commission.

"In 2008, we continued our track record of growth, diversification and balance sheet strength, delivering a strong performance against commonly-used metrics," commented Douglas M. Pasquale, (top right photo) NHP's President and Chief Executive Officer.


"Our disciplined approach to acquisitions and balance sheet management has resulted in conservative leverage, an excellent fixed charge coverage and ample liquidity.

" Given the strength of our balance sheet and modest capital commitments, we believe we have positioned ourselves well to capitalize on strategic opportunities as they arise. Our total shareholder return, diluted FAD dividend payout ratio and coverage remain among the strongest in the entire REIT universe," Mr. Pasquale added.

For a complete copy of the company's news release and its financials, please contact:

Abdo H. Khoury, Chief Financial and Portfolio Officer of Nationwide Health Properties, Inc., +1-949-718-4400. Web Site: http://www.nhp-reit.com/