Winter Garden, FL Office Building Gets $2.8M Loan

ORLANDO, FL—July 10, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on July 7, 2009, in the amount of $2,800,000 for the Mercantile Office Building (top left photo) in Winter Garden, Florida.

Doug Rozzell and Jeff Schnupp financed the Mercantile Office Building through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.

The permanent loan has an interest rate of 6.75% and a five-year term, based on a 25-year amortization. The loan-to-value is 56%.

The 31,857 square-foot multi-tenant office building was built in 2000, and is home to major tenant Mercantile Bank. The Mercantile Office Building is located at 12200 West Colonial Drive, Winter Garden, Florida.

For further information, please contact:
Doug Rozzell, (407) 937-0470, drozzell@tdwood.com

Jeff Schnupp, (407) 937-0470, jschnupp@tdwood.com

Jessica Gurtowsi, (407) 937-0470, jgurtowski@tdwood.com

Grubb & Ellis Represents Vanguard Equities, Inc. in Purchase of Golden Ring Center in Baltimore, MD

BALTIMORE, MD (July 10, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today it represented Vanguard Equities, Inc. in the purchase of 63,694 square feet at Golden Ring Center (top right photo) located at 8823 Pulaski Highway in Baltimore, MD.

Grubb & Ellis’ Matthew B. Cooper, senior associate, and Eddie Goldmeier, vice president, facilitated the transaction. Circuit City, the owner of the strip mall, was represented by DJM Realty.

“Over the past decade, this specific trade area has undergone a substantial redevelopment,” said Cooper. “It is considered a vibrant, well-established retail district in the northeast Baltimore City region.”

Vanguard plans to redevelop and lease the space, which was previously occupied by Circuit City, the prior anchor store. Current tenants include West Marine Inline and National Tire and Battery. Approximately 10,000 square feet of space is available for lease.

Vanguard Equities, Inc., based in Baltimore, is a leading real estate development firm, involved in shopping center development.

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

Arbor Closes Two Fannie Mae DUS® Loans Totaling $2.3M

Uniondale, NY (July 10, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $2,300,000 under the Fannie Mae DUS® product line.

These loans include:

Terrace Park Apartments, (top right photo) West Haven, CT – A 50-unit complex in the amount of $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.06 percent.

Westbrook Park Apartments, Seymour, CT – A 37-unit complex in the amount of $300,000 funded under the Fannie Mae DUS® product line. The 5-year loan amortizes on a 30-year schedule and carries a note rate of 6.08 percent.

The loans were originated by John Edwards, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“These financings represent a great opportunity to work with a repeat client while providing flexible loan terms,” said Edwards. “I cannot emphasize enough the importance we place on our long-term business relationships.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/

Smith Equities Real Estate Investment Advisors Sells Second Distressed Office Building in Orlando

ORLANDO, FL (July 10, 2009) – Orlando-based Smith Equities Real Estate Investment Advisors recently represented the Seller on the sale of the
building in Orlando Central Park known as the 7200 Building (top right photo).

The Seller was Orlando Central Park Tarragon II and the Buyer was JCQ Investments, LLC.

The price was $2,800,000 or $39.75 per AC SF ($43.65/SF Rentable).

The office building was 64% vacant at the time of sale and was sold out of bankruptcy court. According to Robert Smith (middle left photo).


“This building represented a unique challenge to sell since the Orlando Central Park submarket will have a lot of additional vacant space when Darden moves into their new headquarters later this year.


" It offers a great value for small companies who want to save money and take advantage of the low rental rates that they are offering to lease the building up quickly.”

The new owner has began upgrading the building with a new security alarm system, security cameras (inside and out) and plans on upgrading the commons areas.


During the first two weeks of ownership they leased 1,900 SF to Time Share Networking, 700 SF to Brand Energy, and 1,500 SF to Time Bandit. Rates are very competitive and start at $12.00 per SF.

Although Smith Equities is well known as experts in selling apartment buildings, this is the second distressed office building its founder, Robert E. Smith, CCIM has closed in 2009 representing over 101,000 SF of office space.


“As workout specialists, we have developed an understanding of the dynamics of selling a distressed, near empty building in foreclosure/Chapter 11 and have worked through the intricacies of dealing with the courts, the lenders, and the myriad complicated documents.”


For more information, please contact:
Robert E. Smith, CCIM, 407.422.0704, ext. 101, rsmith@smitheq.com

Theater-Anchored Shopping Centers Paying Off for Weingarten in Florida

CLERMONT, FL—Despite lower June sales reported by almost every national retail chain, Houston, TX-based Weingarten Realty Investors states two of its Florida properties are prospering in the 20th month of the Recession.

The reason: The 341,494-square-foot Clermont Landing (bottom left photo) at Clermont and the 60,738-square-foot Epic Village (top right photo) at St. Augustine are anchored by theaters which are bringing customers from a 15-mile to 20-mile radius.

“We closely monitor the foot traffic in our centers,” says Terry R. Marks, regional development director for Weingarten Realty Investors.

“Currently, we have two Florida centers that are anchored by Epic Theatres (based in DeLand, FL, middle left photo)– Clermont Landing and Epic Village at St. Augustine. Despite the recession, these theaters are drawing customers that live 15 to 20 miles away from the centers, and these theaters are averaging 10,000 in ticket sales each week.

“If this trend holds, each theater could host more than 500,000 visitors a year. In terms of foot traffic, this demonstrates huge revenue potential for retailers in these theater-anchored centers.”

Clermont Landing is home to JCPenney, Ross Dress for Less®, Hibbett Sports®, T.J. Maxx, Michaels, Famous Footwear, rue21 and maurices, among others.

The center also has a number of restaurants such as Olive Garden and Red Lobster.

Epic Village at St. Augustine is the retail entertainment focal point of the greater St. Augustine market, which attracts approximately 6.5 million visitors each year.

Strategically located at the corner of State Road 207 and Rolling Hills Drive, the center boasts a variety of specialty shops, restaurants and family entertainment.

In addition to the 16-screen Epic Theatre complex, the center is also home to Papa’s Grill, McDonald’s, with the newest McCafé concept, SunDaze Tanning, South Pole Creamery and DeLeon Pizza.

The nearest theatres are 50 miles south to Daytona and 20 miles north to Jacksonville.

Clermont Landing is a joint venture partnership between Weingarten Realty, Developers Realty and Epic Theatres.

Epic Village at St. Augustine is a joint venture partnership between Weingarten Realty and Epic Theatres.

Arbor Closes $2,025,000 Fannie Mae DUS® Small Loan for Riverhills Apartments in Grenaga, MS

UNIONDALE, NY (July 9, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,025,000 loan under the Fannie Mae DUS® Small Loan product line for the 96-unit property known as Riverhills Apartments in Grenaga, MS.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.94 percent.

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

“The borrower’s original lender closed its doors midway through the processing of this loan,” said York. “Fortunately, Arbor was able to fund the loan in less than 40 days to accommodate the borrower’s 1031 exchange cutoff date and the purchase contract closing deadline.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/

Thomas D. Wood & Co. Finds $1.4M Construction Financing for Texas Townhomes

ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured construction financing on July 7, 2009, in the amount of $1,400,000 for English Village Townhomes in Arlington, Texas.

Joe Dear, (top right photo) Company Vice President, financed the English Village Townhomes through Thomas D. Wood and Company’s relationship with a national lender.

The permanent loan has an interest rate of 6.19% and a term of 10 years, based on a 30-year amortization. The loan-to-value is 65%. The 66-unit apartment complex was built in 1970, and is located at 300 W. Pioneer Parkway, Arlington, Texas.

For further information, please contact:
Joe Dear, (407) 937-0470, jdear@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

The website may be accessed through http://www.tdwood.com/

Marcus & Millichap Capital Corp. Arranges $5.94M in 2 New Loans

TCI Michelin Building in Henderson, CO Receives $2.38M


HENDERSON, CO– Marcus & Millichap Capital Corporation (MMCC) has arranged a $2.38 million fixed-rate loan to refinance the 21,000-square foot TCI Michelin building (top right photo) located at 9156 Brighton Rd. in Henderson.

Colton Smith, an associate director in the firm’s Denver office, arranged the financing package for the single-tenant net-leased industrial property.

“The loan had a mezzanine piece behind the senior debt that made it a 79 percent combined loan to value,” says Smith.

“Additionally, the buying entity was a syndicate, which added an extra level of complexity when we were sourcing lenders. Due to the complex structure of the loan, it had been turned down by several sources before the borrower came to MMCC,” adds Smith.

“Through MMCC’s platform and local relationships, we were able to close in a timely fashion with a high LTV and other favorable rates for our client.”


Financing for this transaction was provided by a regional bank at a fixed rate of 6.95 percent. Terms of the loan are for five years with a 20-year amortization schedule. LTV was 70 percent.

“We have witnessed an increasing trend in which a number of local and regional banks are closing loans with five-year balloon payments and 20- to 25-year amortization schedules,” says Smith.




Westampton, NJ Walgreens Obtains $3.56M


WESTAMPTON, NJ– Marcus & Millichap Capital Corporation (MMCC) has arranged a $3.56 million fixed-rate loan for the acquisition of a 14,820-square foot Walgreens located in Westampton, New Jersey.

James Conley, a director in the firm’s Philadelphia office, arranged the financing package for the single-tenant Walgreens property.

“By utilizing MMCC’s platform, we were able to access our extensive lender base,” says Conley. “We found a lender who met all of the client’s loan terms and we were able to close in 45 days.”

Financing for this transaction was provided by a regional bank at a fixed rate of 6.2 percent. Terms of the loan are for 10 years with a 30-year amortization schedule. Loan to value was 55 percent.

“What sets this transaction apart is that MMCC structured the loan with an additional funding clause that allowed the client to borrow up to 70 percent in additional funds within the first 36 months of the loan,” adds Conley.

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

Mark One Capital Arranges $2.65M Loan for Columbia, SC Retail Center

COLUMBIA, S.C.– Mark One Capital has arranged a $2.65 million loan to refinance Polo Plaza, (top left photo) a 58,024-square foot retail center in Columbia.

Geoffrey Harris, a senior director in the firm’s Phoenix office, and Farhan Kabani, an associate director in the firm’s Dallas office, arranged the financing for the property, which is located at 9810 Notch Rd.

“Financing for retail properties is becoming increasingly difficult to structure in today’s marketplace,” says Kabani. “However, Mark One Capital was able to close the transaction with very aggressive terms.”

Financing for Polo Plaza was provided by a commercial bank at a five-year fixed rate of 6 percent with a 25-year amortization schedule. The loan-to-value was 63 percent.

Press Contact: Kathy Molitor, Mark One Capital, (925) 953-1704

Seasons 52 Announces Plan to Open New Restaurant in King of Prussia, PA

ORLANDO, July 9 /PRNewswire/ -- Seasons 52, the popular fresh grill and wine bar restaurant, has selected King of Prussia Mall in King of Prussia, Pennsylvania, as their next site for expansion.

Expected to open in spring 2010, the new restaurant will join the recently opened Seasons 52 in Cherry Hill, New Jersey, as the company's second location in the greater Philadelphia market, increasing the total number of Seasons 52 restaurants to 10.

(Seasons52, Tampa, FL, top left photo)

Leading the strategic growth plan for Seasons 52 is company President Stephen Judge, who is focused on securing premium real estate locations to fuel the concept's expansion. "King of Prussia Mall is one of the premier super-regional shopping complexes in the country" Judge said. "Through the years it has kept itself fresh and exciting, with popular and upscale retailers that provide a lifestyle environment compatible with the Seasons 52 concept."

CONTACT: Rachel Summers, +1-215-875-4365 (direct), +1-215-545-6293(fax), rsummers@stargroup1.com

Web Site: http://www.seasons52.com/

Re/Max Partners With RealtyTrac

DENVER, CO, July 8, 2009 – RE/MAX International, Inc., announced that visitors to remax.com soon will be able to search more than 1.8 million REO properties in the U.S. via a strategic partnership with RealtyTrac (http://www.realtytrac.com/).

Through the partnership, RE/MAX Associates receive discounted subscription rates to RealtyTrac, the nation’s leading online foreclosure marketplace.

RE/MAX agents are uniquely qualified to manage foreclosures and distressed property as more RE/MAX Associates have earned the Certified Distressed Property Expert® (CDPE) designation than agents from any other national real estate network.

The CDPE training, through The Distressed Property Institute, gives RE/MAX agents the expertise to assist buyers and sellers of REO and distressed properties.

“The new partnership with RealtyTrac is about adapting to today’s real estate market,” said Kristi Graning, (top right photo) Senior Vice President, Information Technology and eBusiness for RE/MAX International.

“In addition to the training they’re receiving on distressed properties, RE/MAX Associates can leverage the RealtyTrac foreclosure information and inventory on remax.com to help their buyers and sellers make informed decisions.”

RealtyTrac averages approximately 3 million unique monthly visitors. Through the subscription, RE/MAX agents have access to foreclosure information — including properties in default, properties scheduled for public foreclosure auction and bank-owned properties — along with foreclosure loan information, tax assessment information, comprehensive lien and loan history and neighborhood home sale trends.

“We are very pleased to be working with one of the world’s leading real estate brands and are excited to be providing RE/MAX International with foreclosure data,” said Rick Sharga, (middle left photo) Senior Vice President for RealtyTrac.

“Together, we believe we can have a positive impact on the national housing market by providing RE/MAX Associates with vital information they can use to help their customers with foreclosures.”

For more information on RealtyTrac, visit http://www.realtytrac.com/.

For more information on RE/MAX International, or to search for property listings, visit http://www.remax.com/.

Contact: Tammy Chan Atomic PR, Direct: 212-699-364. 6Mobile: 408-802-8682, tammy@atomicpr.com

Marcus & Millichap Lists 2 Properties for Total $21.9M

Quarry Shopping Center, Fort Smith, AR, Listed for $11M

FORT SMITH, Ark., July 7, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the retained the exclusive listing for the 198,371-square foot Quarry Shopping Center (top right photo) in Fort Smith.

The listing price of $11 million represents $55 per square foot and an 8.01 percent cap rate.

Mac McCall, an associate vice president investments and a director of the firm’s National Retail Group in Atlanta, and C. J. Cropper, a retail investment specialist in Little Rock, are representing the seller, a Fort Smith-based private investment group.

“The Quarry Shopping Center is currently 97 percent occupied and includes a diverse mix of national and local retail tenants well-suited for the area,” says McCall. “The investment represents a rare opportunity to acquire a Wal-Mart-anchored property at only $55 per square foot.”
The property is located on 18.2 acres at 4900 Rogers Ave., across from the Central Mall, which is anchored by Dillard’s, JCPenney and Sears.

Seller Asks $10.9M for Metro North Office Building in North Glenn, CO

NORTHGLENN, Colo., July 7, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Metro North, (bottom left photo) a 86,044-square foot office building in Northglenn, a suburb of Denver.

The listing price of $10.9 million represents $127 per square foot.

Barry Higgins, vice president investments, and office and industrial property specialists Jon Hendrickson and Taylor Turano, al based in the firm’s Denver office, are representing the seller.
“Metro North is a high-identity property with excellent visibility from Interstate 25,” says Turano.

Located at 11990 Grant St. on 3.3 acres in Northglenn, the property is accessible from 120th Avenue, which is a major artery for the city with a traffic count of 61,040 vehicles per day.

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

D & A Building Services secures new contract with Denton County, TX

LONGWOOD, Fla.— D & A Building Services Inc., a facility maintenance company, has secured a new contract with Denton County, Texas. D & A is providing window cleaning and pressure washing for the county administration building, the six-story Joseph A. Carroll Building located in the City of Denton.

A crew of four window cleaning specialist will be assigned to the project, according to D & A’s Dallas Branch Manager Antonio Espinel (top right photo)

D & A Building Services’ Dallas office, established in 2008 currently employs a staff of 15 cleaning specialists. D & A is a Minority Business Enterprise certified by the North Central Texas Regional Certification Agency, a member of the Greater Dallas Hispanic Chamber of Commerce and the Hispanic Contractors Association of Dallas/Fort Worth.

The Company has offices in Longwood, Fla., Jacksonville, Fla., Tampa, Fla., Kansas City, Mo., Madison, Wis., Dallas, Texas, and Detroit, Mich. For additional information, please visit http://www.dabuildingservices.com/.

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

Ardaman & Associates wins contract in Louisiana

ORLANDO, FL— Ardaman & Associates Inc., Orlando’s oldest geotechnical engineering firm, has been selected by the Southeast Louisiana Flood Protection Authority – East Board for an Indefinite Delivery Indefinite Quantity (IDIQ) contract to provide geotechnical engineering services.

The three-year contract has a maximum fee of $1 million per year. Ardaman’s New Orleans office will perform on this contract.

Ardaman & Associates Inc. is an engineering practice providing geotechnical, environmental, water resources and facilities engineering, and construction materials testing to public, industrial and private clients worldwide.

The Company is headquartered in Orlando with offices in Bartow, Cocoa, Fort Myers, Miami, Port St. Lucie, Sarasota, Tallahassee, Tampa, and West Palm Beach, Fla., and in New Orleans, Baton Rouge, Shreveport, Monroe and Alexandria, La. Established in 1959, Ardaman employs a professional, support and field staff of 485. Please visit ardaman.com for more details about services and experience.

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

Van Tilley promoted at Palmer Electric

WINTER PARK, FL– Van Tilley (top right photo) has been promoted to executive vice president at Palmer Electric Company in charge of all operating units consisting of commercial, service, residential, systems and multi-family divisions.

Tilley, who joined the 350-person electrical services company in 2002, most recently held the position of vice president - commercial division.

He remains on the board of directors for Palmer Electric, an employee owned company.

With 30 years of electrical contracting experience, Tilley’s education and trade training includes a four-year electrical apprenticeship program in Florida, construction management courses at Clemson University Business Management Academy, general studies at Jefferson Davis Community College, Biloxi, Miss., as well as the completion of numerous Fails Management seminars.

He currently serves on the board of directors of the Central Florida Chapter of Associated Builders & Contractors.


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