Jones Lang LaSalle Expands Orange County, CA Operations

IRVINE, CA – Jones Lang LaSalle has relocated and expanded its Orange County operations by combining its Irvine and Newport Beach operations in a new full-service, regional office located at 4 Park Plaza (bottom left photo) in Irvine, California.

The expanded office will be multi-functional and will house 20 executives with expertise in tenant representation, agency leasing, capital markets, and project and development services.

“It was important for us to have our entire Orange County team in one location so that all our teams – across all business lines – can collaborate more effectively on behalf of our clients,” said Leland Bruce, (top right photo) Senior Managing Director for Jones Lang LaSalle’s Irvine office.

“We are now better positioned to satisfy the needs of our growing client base in Orange County.”

With a property and facilities management portfolio of 43.4 million square feet, Jones Lang LaSalle employs more than 700 professionals in Southern California’s six offices in the region, including Los Angeles Downtown, Los Angeles West, Los Angeles North, South Bay, Orange County and San Diego.

CONTACT: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com

HFF arranges $25M in financing for Longwood, FL multifamily properties

CHICAGO, IL – The Chicago and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged nearly $25 million in financing for Golf Brook (bottom left photo) and Sabal Park Apartments,(top right photo) two multifamily communities totaling 357 units in Longwood, Florida.

HFF directors Matthew Schoenfeldt (bottom right photo) and Elliott Throne (bottom left photo) worked on behalf of NTS Development Company to secure the floating-rate loans through Freddie Mac’s “capped ARM” financing program.

A $14.63 million loan was arranged for Golf Brook and a $9.6 million loan was secured for Sabal Park. Both loans will be serviced by HFF.

NTS Development Company is a full-service, diversified real estate company with a portfolio of apartment homes, residential communities and commercial properties located in Kentucky, Indiana, Tennessee, Virginia, Georgia and Florida.

Located at 385 Golf Brook Circle (Gold Brook Apartments) and 32 Sabal Park Place (Sabal Park Apartments), both communities are easily accessible from State Route 434 and Interstate 4 approximately 13 miles from downtown Orlando in Longwood.

Golf Brook Apartments has 195 units averaging 1,538 square feet each and is currently 92.3 percent leased. The 90.7 percent occupied Sabal Park Apartments offers 162 units averaging 1,497 square feet each. Both communities feature fitness centers, swimming pools, hot tubs and car wash facilities for residents.

“Despite the tightening lending conditions, a quality multifamily product with superior sponsorship will still be able to find financing,” said Schoenfeldt.

HFF (NYSE: HF) operates out of 17 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, loan sales and commercial loan servicing.

CONTACTS:

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com

Elliott P. Throne, HFF Director, (305) 448-1333, ethrone@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

http://www.hfflp.com/

HFF closes sale of New Jersey self-storage facilities

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of two United Stor-All self-storage facilities in Parsippany and Fairfield, New Jersey.

HFF senior managing director Aaron Swerdlin (top left photo), managing director Doug McCarron (top right photo) and associate director Michael Klein (bottom right photo) led the investment sales team exclusively on behalf of the seller, a joint venture between United Stor-All and the Fidelity Real Estate Group.

An unrelated third party purchased both properties for an undisclosed price.

Completed in 2004, the two United Stor-All properties total approximately 1,406 units in 139,850 square feet and feature climate-controlled space, individual unit alarms and digital camera security monitoring.

“The self-storage asset class has held up extremely well in the current environment relative to operations and value constancy, especially when compared to the broader investment real estate market.

"High quality assets such as these are well-positioned to continue to outperform as the capital markets and the US economy stabilizes,” said Swerdlin.

Fidelity Real Estate Group pursues value-added real estate investment opportunities throughout the U.S. on a fully discretionary basis for its managed funds.

Fidelity Real Estate Group is a division of Pyramis Global Advisors, which is a wholly owned subsidiary of Fidelity Investments.

Fidelity Real Estate Group manages in excess of $1.1 billion on behalf of institutional and individual clients.

United Stor-All is a national self storage developer, operator and property manager.

United Stor-All has developed in excess of 40 self-storage facilities in the past 10 years and currently manages a portfolio of approximately 90 self-storage facilities for its own account and on behalf of third party clients.

Contacts:

Aaron A. Swerdlin, HFF Senior Managing Director, (713) 852-3500, aswerdlin@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500, krmurphy@hfflp.com

HFF secures $17M financing for Philadelphia, PA retail center

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $17 million in financing for Columbus Crossing, (top left photo) a 142,166-square-foot, grocery-anchored shopping center in Philadelphia, Pennsylvania.

Working exclusively on behalf of Cedar Shopping Centers, Inc., HFF managing director Jim Cadranell (middle right photo) and director John Taylor arranged the five-year, 6.75 percent fixed-rate loan with Susquehanna Bank.

Cedar Shopping Centers, Inc. is a publicly-traded, self-managed real estate investment trust focused on the development and ownership of grocery-anchored and convenience shopping centers primarily in the northeast United States.

Columbus Crossing is located at 1851 South Christopher Columbus Boulevard close to Interstate 95 and Penn’s Landing along the Delaware River waterfront.

The 11.33-acre site is shadow-anchored by Home Depot and Walmart. Currently 97 percent leased, the property’s tenants include SuperFresh, Old Navy, A.C. Moore, Famous Footwear, Bath & Body Works and Lane Bryant.

“This is a good example of the availability of capital to quality real estate and borrowers,” said Cadranell.

Susquehanna Bank provides retail and commercial banking services, with more than 235 branches in the Mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc. (Nasdaq: SUSQ), a financial services holding company with assets of approximately $14 billion. http://www.susquehanna.net/.

CONTACTS:

James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

John N. Taylor, HFF Director, (973) 549-2000, jtaylor@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

CB Richard Ellis Broker Margo Thomas Secures Five-Year Lease for Party Land

ORLANDO, FL--The Orlando office of CB Richard Ellis is pleased to announce Margo Thomas, (t0p right photo) Senior Retail Specialist, has secured a five-year lease transaction on 2,835-sq.-ft. for Party Land, retail seller of paper, stationery, gifts and party goods.

The space in Red Willa Plaza is located at the Northeast corner of Red Bug Lake and Tuskawilla Roads in Winter Springs, Florida. The renovation of the center, which is anchored by Carrabba's and Lifestyle Family Fitness, is in its final stage. Heather Lannon of Stiles Realty Co. represented the landlord, GRE Red Willa, LLC.


Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

New Faces and New Assignments at Grubb & Ellis

Mano E. Leventakis Promoted to Executive Vice President, Managing Director of Inland Empire

SANTA ANA, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Mano E. Leventakis (top right photo) to executive vice president, managing director, of the company’s Inland Empire offices, effective immediately.

“Mano is a consummate professional. His commitment to building a cohesive team of real estate services professionals who put client service first has led to the growth and success of our Inland Empire operations,” said Kurt Strasmann, executive vice president and managing director of Grubb & Ellis’ Orange County operations. “This promotion is well-deserved.”

Leventakis joined Grubb & Ellis in 1993 as an associate and has since been promoted five times.

Walker, McNutt, Read Move Up as New Executive Vice Presidents

NEWPORT BEACH, CA-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Dixie Walker (top left photo), Jack McNutt and Jeff Read to executive vice president.

“Dixie, Jack and Jeff’s consistently high performance and commitment to superior client service set the standard for professionals throughout our company and the entire industry,” said Jack Van Berkel, (middle right photo) chief operating officer of Grubb & Ellis and president, Real Estate Services. “We are very proud of what they have achieved and couldn’t be more pleased to have them on our team.”

Walker specializes in the sale of retail investment properties, including market/drug, community and specialty retail centers. He has completed retail transactions totaling in excess of more than 15 million square feet with a value of more than of $2 billion.

With more than 25 years of commercial real estate experience, McNutt primarily specializes in tenant representation in the office sector. He joined Grubb & Ellis in 1986 and is a member of the company’s President’s Council.

With a focus on the industrial sector, Read specializes in acquisitions, dispositions and lease transactions, as well as development and investment analysis. He began his career with Grubb & Ellis in 1989. Read was the top overall producer for the company’s north Orange County region in 1995, 2000 – 2004, 2006 and 2007. His sales production placed him in the top 10 agents nationally for Grubb & Ellis in 2001, 2002 and 2007.

Contact: Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

Chris Doerr is New Vice President, Investment Group for Metro Washington, DC

WASHINGTON, D.C.– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Christopher Doerr has joined the company as vice president, Investment Group, effective immediately. Doerr will focus on on multifamily investment properties in the Washington, D.C., metropolitan area.

“Having been a real estate attorney, broker, acquisitions manager and institutional fund director, Chris’ diverse experience enables us to provide solutions for all types of clients, many of whom we haven’t been able to serve in the past,” said Keith Lipton, executive vice president and managing director of Grubb & Ellis’ Washington, D.C.-area offices. “Since Washington, D.C., has one of the most attractive multifamily markets in the country, his hire greatly enhances Grubb & Ellis’ services for investors on both the local and national levels.”

Contact: Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com

Tim Harrington and Victor Frandsen Earn Executive Vice President Posts
DENVER, CO-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Tim Harrington and Victor Frandsen to executive vice president.

“Tim and Victor’s consistently high performance and commitment to superior client service set the standard for professionals throughout our company and the entire industry,” said Jack Van Berkel, chief operating officer of Grubb & Ellis and president, Real Estate Services. “We are very proud of what they have achieved and couldn’t be more pleased to have them on our team.”


Hovivian, Smart, Ross, Plummer Promoted to Executive Vice President

LOS ANGELES, CA Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Clayton Hovivian, Jeff Smart, Michael Ross (bottom left photo) and Richard Plummer to executive vice president, Transaction Services.

“Each of these professionals has made a substantially positive impact to our Los Angeles operations and will continue to be a key part of our growth over the next several years,” said Chuck Hunt, executive managing director of Grubb & Ellis’ Los Angeles operations.

Sperry Van Ness/Guardian Launches Marketmaker Western Regional Commercial Real Estate Auction July 30 in Los Angeles

LOS ANGELES, CA– Sperry Van Ness/Guardian has announced the MarketMaker Western Regional Commercial Property Auction to be held July 30 at 2 p.m. at the Hyatt Regency Century Plaza in Los Angeles.

To accelerate sales for the region’s most motivated sellers of commercial properties, the company launched MarketMaker a new distressed real estate liquidation platform.

With more than 50 years of combined auction experience, Sperry Van Ness has sold more than 20,000 properties located across 46 states as well as Mexico, Puerto Rico and the Virgin Islands. Auction information can be found at http://www.svnmarketmaker.com/.

A summary of the participating property listings include:

· Dozens of individual commercial properties located in six western states
· In excess of $100 million in assets are aggregated (and growing).
· Properties are REO, bank ordered sale or developer close outs.
· Auction inventory is pre-qualified as “motivated sellers” only.
· Properties will be sold at up to 90 percent off the original loan balance.
· Each listing will have a qualified, local Sperry Van Ness listing advisor to improve due diligence efficiency.

Property listings are welcomed before June 30, subject to our pre-qualification criteria. The brokerage community is encouraged to participate in the auction as the site provides SHARElink, a proprietary website tool that allows agents to securely register clients and collect a cooperative fee. This on-line protection feature is unique to MarketMaker and is a first in the auction industry.

“Our team has spent the last several months filtering through hundreds of properties to identify the most sellable assets for this auction,” said Karlin Conklin, Chief Operating Officer of Sperry Van Ness/Guardian.

“With our solution, prospective investors will work directly with a local Sperry Van Ness advisor who has both property and market knowledge - ensuring a smooth due diligence process and timely closing. But ultimately, investors decide the value and the final price of this inventory.”

“Our site will serve as a distressed property marketplace. Real estate professionals and investors will have direct access to our auction and REO listings. MarketMaker will also serve as a secure platform for handling note sales for our

Contact: David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

Arbor Closes 6 Loans totaling $63M

Maple Grove Apartments in Boise, ID Gets $1.25M Loan

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,250,000 loan under the Fannie Mae DUS® Small Loan product line for the 44-unit complex known as Maple Grove Apartments in Boise, ID.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.

The loan was originated by Jon Red, Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was seeking a low, long-term fixed-rate loan on a very conservatively leveraged property,” said Red. “Arbor funded the transaction in 60 days with a very competitive rate of 5.50% for 10 yrs.

Two Las Vegas Properties Receive Total $47,493,000

UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $47,493,000 under the Fannie Mae DUS® MBS product line. These loans include:

La Villa Estates, Las Vegas, NV (middle left photo) – A 336-unit complex in the amount of $23,500,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent.

San Tropez Apartments, Las Vegas, NV – A 336-unit complex in the amount of $23,993,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.99 percent.

The loans were originated at Arbor’s Uniondale, NY headquarters.

Parkside Apartments in Carmichael, CA Obtains $935,000

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $935,000 loan under the Fannie Mae DUS® Small Loan product line for the 17-unit complex known as Parkside Apartments in Carmichael, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.

The loan was originated by Peter Margolin, (middle right photo) Director, in Arbor’s full-service Northbrook, IL lending office. “The borrower needed to refinance out his existing debt after acquiring the property and putting in capital to improve the asset,” said Margolin. “Arbor provided a long-term debt solution that satisfied the borrower’s needs.”

Harbor Green Apartments in Wilmington, CA Receives $11.15M

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,150,000 loan under the Fannie Mae DUS® MBS Loan product line for the 204-unit property known as Harbor Green Apartments in Wilmington, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.66 percent.

The loan was originated by Greg Gillam, Director, in Arbor’s full-service Manhattan Beach, CA lending office.

Treeview Manor in Philadelphia, PA Gets $2.4M

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan under the Fannie Mae DUS® Loan product line for the 68-unit property known as Treeview Manor in Philadelphia, PA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.

The loan was originated by Stephen York, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.

“The sponsor’s loan was nearing maturity and he was looking for a lender that was comfortable providing sizeable cash out with a low long term fixed rate,” said York.

“Arbor was able to provide him with terms that exceeded his expectations; we look forward to future opportunities with this client.”

Contact: Ingrid Principe, P: 516.506.4298 F: 516.542.2555

IPrincipe@arbor.com

http://www.arbor.com/

Matthew Harrell Partners With Franklin Street Insurance Services

TAMPA, FL – Franklin Street Insurance Services, Inc, a subsidiary company of Franklin Street Financial Partners, is pleased to announce that Matthew Harrell has joined as a new Partner with the firm. Mr. Harrell will be adding over 7 years of successful insurance brokerage experience to the FSIS.

Prior to joining Franklin Street Insurance Services, Mr. Harrell was responsible for new business development and maintaining client relationships through the Client Advocate Model. He has been involved in the structuring and placement of insurance programs for the Real Estate, Construction, and Homebuilding industries. Matt specializes in Portfolio Risk Management and manages a book with over 30 million square feet of property.

RICHARD DISTLER JOINS FRANKLIN STREET FINANCIAL PARTNERS AS THE COMPANY’S CONTROLLER

TAMPA, FL– Franklin Street Financial Partners, Inc, a collaborative real estate firm, is pleased to announce that Richard Distler has joined the firm as the company’s Controller. Mr. Distler brings more than 13 years of notable accounting experience to the company.

Prior to joining Franklin Street Financial, Mr. Distler was the Vice President of Finance and Treasurer at Academic Financial Holdings, LLC where he supervised the accounting, bookkeeping and processing departments.

Contact:
Matthew Harrell, M: 813.784.3048, O: 813.839.7300 x323, Mharrell@franklinstreetfinancial.com

Skanska Signs $220M Contract to Build Nemours Children’s Hospital in Orlando

STOCKHOLM--(BUSINESS WIRE)--Skanska has signed the contract worth an estimated $220 million to provide construction manager at-risk services to build the $400 million, 85-bed Nemours Children’s Hospital on a 60-acre site in Orlando’s Lake Nona medical city.

The project broke ground June 25 and is scheduled for completion in 2012.

The 630,000-square-foot project (57,000 sq m) (above centered rendering) features an emergency department, diagnostic and ambulatory programs, education and research centers, integrated with an outpatient clinic on a 60-acre greenfield site.

When completed, the campus will allow Nemours to provide access to a full-line of specialty services and improve pediatric care to the region through coordinated patient-centered medical services, biomedical research, medical and allied health training, educational programs as well as pediatric prevention services and child advocacy programs.

Additionally, the facility will incorporate high performance, environmentally friendly and sustainable design concepts to achieve LEED® certification from the United States Green Building Council.

The architect of record is Stanley Beaman & Sears and the associate architect is Perkins+Will.

Skanska USA Building is a leading national and local provider of construction, pre-construction consulting, general contracting and design-build services.

The company also provides validation services to clients in the pharmaceutical industry. Clients represent a broad range of U.S. industries including science and technology, healthcare, education, high-tech, aviation, transportation and sports and entertainment.

The business unit is headquartered in Parsippany, New Jersey and has approximately 3,500 employees. Sales in 2008 amounted to about SEK 30.3 billion.

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships.

The Group currently has 55,000 employees in selected home markets in Europe, in the US and Latin America. Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2008 totaled SEK 144 billion.

Contacts:

Skanska USA Building,Tom Crane, Senior Vice President, Communications, tel +1 973 753 3450

Skanska AB, Peter Gimbe, Press Officer, tel +46 10 448 88 38 or

Direct line for media:tel +46 10 448 88 99

Premier Capital Arranges $3.4M Financing for Comfort Inn

BELLEVUE, WA– Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, has arranged and closed a $3.4 million financing transaction for acquisition of a 69-unit Comfort Inn, located in Coeur d’Alene, Idaho.

“The buyer called on Premier Capital to step in late in the acquisition process and deliver a competitive commitment,” said Jeff McKee, (top right photo) managing director of Premier Capital Associates, LLC. “We were able to work with the buyer, seller and lender to find solutions that benefited all parties.”

“Experience and relationships are key components of getting transactions completed in today’s market,” said Greg Morris, (middle left photo) managing director of Premier Capital Associates, LLC.

“With values, income and market constantly in question, we leaned on our 20-plus years of hotel finance experience to develop a creative solution. In this loan, we worked with a little-used government-backed program. This program is not widely known, but we were able to harness the capital and get the transaction completed in about half the time of a more traditional loan.

“Loans under $10 million for acquisitions and refinancing are being completed, but locating sources and acceptable terms require special expertise and relationships.

"Development loans are more difficult but can be accomplished. We see the credit markets beginning to show the first signs of thawing, but believe it will be another six months to a year before financing for larger loans is more readily available.”

Premier Capital Associates, LLC, located in Bellevue, Washington, is a national, full-service real estate investment company specializing in debt and advisory services for hospitality and other income-producing commercial real estate, with relationships across the United States.

The company arranges debt for construction loans, acquisition, refinancing, and reposition financing.

For additional information, please contact either Jeff McKee at 425-957-0600 or Greg Morris at 425-957-0700. Or, visit the company’s Web site: http://www.premiercapitalassoc.com/.

Contact: Jerry Daly, Chris Daly, (703) 435-6293, jerry@dalygray.com

Construct Two Group wins second consecutive national safety award

ORLANDO, FL — Construct Two Group has won its second consecutive national safety award from Associated Builders & Contractors (ABC), the nation’s largest construction organization. The construction management company’s safety program received ABC’s Safety Training and Evaluation Process (STEP) gold level of achievement.

“This award underscores our belief that safety is not an option, it is an integral part of our company culture,” said Derrick Wallace, (top right photo) chairman, Construct Two Group.

Created in 1989, the STEP program is overseen by the National Environment, Health & Safety Committee of Associated Builders & Contractors to recognize member companies with exceptional safety records.

Presented annually, the awards recognize four levels of safety program achievement, bronze, silver, gold and platinum.

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

Palmer Electric Co. wins contract for assisted living facility

WINTER PARK, FL— The multi-family division of Palmer Electric Company has secured a contract for just over $300,000 for electrical services and lighting for the 78-unit assisted living facility at LifePointe Village at Orlando, a senior living complex under development in Orlando, Fla.

Under its contract with general contractor Allen & O’Hara Construction Co. LLC of Olive Branch, Miss., Palmer is providing site and building electrical contracting, and a fire alarm system for the three-story, 70,000-square-foot facility. Showcase Lighting & Home Décor Center, Palmer Electric’s sister company, is providing lighting fixtures. The project is scheduled for completion in February 2010.

The assisted living facility is the first of three levels of senior housing planned for LifePointe Village at Orlando that includes future construction of independent living residences and patio homes.

The project’s owner and developer is Orlando Central Community Inc. of Orlando, Fla. Dale Littlefield of Memphis, Tenn., is the project architect. Electrical engineering is being provided by Hall Engineering LLC of Jackson, Tenn.

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

Plaza Advisors Announces Fourth Shopping Center Sale of 2009

TAMPA, FL Plaza Advisors is pleased to announce the sale of the Palafox Square shopping center (top left photo) in Pensacola, Florida.

The center contains shadow anchors’ WalMart Supercenter (219,742 sf) and a 22,500 sf Office Depot.

The project, built in 1999, is located at the intersection of Pensacola Boulevard and West Hood Drive. The property was 100% occupied at the time of sale and included 17,150 sf of local space with several recognizable tenants such as Radio Shack, Gamestop, GNC, Fantastic Sams, and Sally Beauty Supply.

Plaza Advisors represented the seller in the transaction and co-managing partners Jim Michalak (middle right photo) and Anthony Blanco (middle left photo) , together with Senior Financial Analyst Lenard Williams (bottom right photo) were involved in the engagement.

The seller and buyer were Developers Diversified Corporation and Yale Realty Services Corp., respectively. The sale of Palafox Squarer is the fourth transaction for Plaza Advisors in 2009.

Earlier this year, Plaza Advisors sold Regency Village, a Publix-anchored center located in Orlando, The Village Shopping Center, a Publix and Bealls Outlet anchored center in Port Orange, and Belleair Bazaar, a Bonefish Grill-anchored center in the Clearwater area.

Plaza Advisors, with offices in Tampa and Miami, is a real estate brokerage firm that specializes in the disposition of anchored shopping center properties in the southeastern United States.

Plaza Advisors clients include private equity, developers, and major institutions including pension funds, servicing agents, life insurance companies, REITs, and money center banks.

Co-managing partners Jim Michalak and Anthony Blanco have a combined 35 years investment brokerage experience. The duo has closed over 140 shopping center transactions, with a combined GLA exceeding 15 million square feet with an aggregate sales volume in excess of $2 billion.

CONTACTS:

Jim Michalak, Jim.michalak@plazadvisors.com

Anthony Blanco, Anthony.blanco@plazadvisors.com

HFF to market sale of Hines’ One Northwestern Plaza in Southfield, MI

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been retained by Hines to market the sale of One Northwestern Plaza, (top right photo), a 240,900-square-foot office building in Southfield, Michigan.

The HFF investment sales team will be led by managing directors Jeff Bramson (middle right photo) and Jaime Fink,(middle left photo) who will market the property on behalf of the Hines U.S. Office Value Added Fund, which has owned the building since 2005.

One Northwestern Plaza is being offered without an asking price free and clear of debt.

One Northwestern Plaza is located at 28411 Northwestern Highway in the southeast Michigan suburb of Southfield surrounded by the affluent suburban communities of Oakland County.

Situated at the confluence of Northwestern Highway, Reuther Freeway (I-696), and John C. Lodge Freeway (US-10), the property is visible from all three highways and has lengthy unobstructed views in every direction.

The 13-story, Class A office tower is 87 percent leased to tenants including Watson Wyatt Worldwide, Massachusetts Mutual Life Insurance, John Hancock Life Insurance, Principal Life Insurance, Denenberg Tuffley, and Consolidated Financial.

“This is an exceptional opportunity to acquire an architecturally striking, award-winning, well-tenanted property. The building’s diverse tenant base includes financial services, media, legal and other professional service firms.

"The property’s rent roll is well-positioned with mid-to-long-term lease expirations, which provide income stability coupled with long-term growth potential,” said Fink.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide.

The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 454 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest real estate organizations in the world. Visit http://www.hines.com/ for more information.

Contacts:

JEFFREY M. BRAMSON, HFF Managing Director, (312) 528-3650, jbramson@hfflp.com

JAIME M. FINK, HFF Managing Director (312) 528-3650, jfink@hfflp.com

KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713)852 3500, krmurphy@hfflp.com