UPDATE: Miami Bankruptcy Judge Rules Bank of America Lawyers Lied in Everglades Condo Suit

(MIAMI, FL)—Bank of America has lost the first round in one of the most controversial condominium developer-versus-lender lawsuits seen in South Florida in recent years.

U.S. Bankruptcy Judge Laurel Isicoff (top right photo)  has thrown out the Charlotte, NC-based bank’s petition to dismiss a lawsuit filed by Cabi Downtown LLC, a company owned by Mexican investors and based in Aventura, FL.

The judge found Bank of America lawyers falsified their Sept. 15, 2009 filing to dismiss the Cabi suit. That suit alleged the bank had lied in affidavits attached to its countersuit.

When Cabi filed for Chapter 11 protection, the bank alleged Cabi owed a balance of $209 million on a $256 million first mortgage loan.

Isicoff said she may also order the bank’s lawyers to pay all legal and other related costs that Cabi incurred in coming to the Feb. 4 hearing.

Cabi filed for Chapter 11 protection Aug. 18, 2009.

At that time, the developers’ petition stated it was seeking the court’s protection because slow condo sales were preventing them from meeting scheduled repayments on a $256 million first mortgage for the $300 million, 849-unit, 49-story Everglades on the Bay project. (middle left photo)

The property is at 250 Biscayne Blvd., the site of the former Everglades Hotel in Miami’s central business district.

According to a transcript of the Feb. 4 bankruptcy hearing reported by South Florida Business Journal, the judge said to the Bank of America lawyers:

“I don’t know what you all were thinking. I don’t know what else to say.

“I am going to issue an order to show cause why Bank of America and its counsel should not be sanctioned for the cost of all attorneys appearing at this hearing today for filing this motion and the affidavit.”

Another round of hearings in the case is scheduled for Feb. 11.

In an e-mailed statement to Real Estate Channel, Andrew Glenn  (middle right photo) of New York City-based Kasowitz, Benson, Torres & Friedman, one of Cabi’s bankruptcy lawyers, says:

"The debtor is gratified that the judge denied Bank of America's motions to dismiss the bankruptcy and to enjoin the Debtors' Deferred Purchase Program.

“We intend to pursue our plan of reorganization to maximize value for all stakeholders.

“However, the debtor remains very troubled that Bank of America made false statements that have damaged the reputations of the owners, management and residents of Everglades on the Bay and is evaluating its options to redress this substantial harm."

Cabi filed its bankruptcy petition after the bank refused to allow write-downs of sales prices.

The bank argued Cabi was violating guidelines that were agreed upon before the developer started a new lease-to-own program.

The bank alleged that Cabi’s leasing program “has damaged the value” of Everglades on the Bay, which “amounts to waste.”

In response, Cabi attorneys told South Florida Business Journal the bank’s accusations range from “outright falsehoods to gross mischaracterizations of the facts.”

Bank of America filed the allegations about the leasing program as an emergency motion. But the judge said during the Feb. 4 hearing the motion clearly was not an emergency.

“Having heard the evidence … I find that the debtors do have a legitimate intent to reorganize, and that the debtor did not file this case for the sole purpose of frustrating Bank of America's exercise of its rights as a secured creditor and, therefore, I find that the case was not filed in bad faith,” Isicoff said.

She added that the developer still must prove it can make the financial numbers work for a reorganization.

While many condo developers have similar rent-to-own programs, this one is somewhat novel because it is being played out in federal bankruptcy court, South Florida Business Journal reports.

When it entered bankruptcy, the 849-unit building had sold 739 units, but only closed on 122. There are now 249 units in the deferred purchase program. Both of the towers are being rented.

(Biscayne Bay Miami skyline middle left photo)

At the time of the bankruptcy filing, the $300 million project still owed $209 million on its BofA-led mortgage.

A January 2009 appraisal of the twin towers on Biscayne Boulevard, ordered by the bank, stated the project is worth $205 million. The latest appraisal, in October, stated a value of $184.5 million.

Cabi, owned by Mexican developers from the Cababie family, had proposed a new loan of $215 million in secured senior notes on which the lenders would get LIBOR (the London Interbank Offer Rate) plus 1 percent.

The developers later increased that number to LIBOR plus 2.5 percent – about 3.35 percent based on a recent rate of 0.85 percent for one-year LIBOR.

Cabi Downtown LLC is owned by GICSA, which says it is the largest and most profitable real-estate developer in Mexico. GICSA chairman Elias Cababie  (bottom right photo) assumed a leadership role in Cabi after Cabi CEO Jacobo Cababie died Jan. 26, 2008. #

Media contact: Dave Satterfield, Dave_Satterfield@sitrick.com

HFF Dallas hires Coler Yoakam to focus on firm’s net lease initiative

DALLAS, TX – HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has hired Coler Yoakam (top right photo)  as a director in its Dallas office. Mr. Yoakam joins HFF as the firm launches a dedicated single tenant, net lease real estate transactions initiative.

HFF now offers dedicated personnel who assist owners during all stages of an investment life cycle as they provide turnkey solutions for owners in need of investment sales and financing services for their net lease properties.

The brokers spearheading this effort include managing director Mark West, (middle left photo) director Coler Yoakam and associate director Brandon Chavoya (middle right photo).

Mr. Yoakam will focus on implementing the net lease infrastructure and process at HFF as well as playing a key role in the origination and execution of net leased investment sale transactions.

He has five years of experience in net lease investment sales and was most recently employed as a senior associate at Connected Net Lease (affiliated with The Retail Connection).

Prior to Connected Net Lease, Mr. Yoakam was a senior associate at Staubach Capital Markets and prior to that, a manager of business development at Stan Johnson Company.

Mr. Yoakam has a Master of Business Administration from Thunderbird, The American School of International Management and a Bachelor of Arts in Economics from Denison University.

“The net lease industry in its current state is highly fragmented and lacks a full-service dedicated intermediary that can provide quality knowledge of capital markets. A singularly focused net lease initiative provides a complimentary service to our clients and is a natural extension of our current business lines.

HFF’s goal is to play an integral role in the net lease business by offering unique and creative solutions on a continuous basis to improve the quality and predictability of the client’s net lease program,” said West.

“Yoakam’s experience in creating marketing and brand management programs for his prior firm, a net lease company, is a perfect match for HFF’s newest initiative and we are excited to have him on board as we embark on this new program ,” added West.

Contacts:

Mark E. West, HFF Managing Director, (214) 265-0880, mwest@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Grubb & Ellis Names David Burback Managing Director of Anaheim and Ontario Offices in California

SANTA ANA, Calif. (Feb. 4, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that David Burback (top right photo)  has been named managing director of the company’s Anaheim and Ontario offices, effective immediately.

 In his new role, Burback will have responsibility for managing and growing Grubb & Ellis’ presence throughout Northern Orange County and the Inland Empire.

“Dave’s extensive experience in the industrial real estate sector and many client relationships throughout the local markets make him extremely qualified for this position,” said Jack Van Berkel (bottom left photo) , the company’s chief operating officer and president, Real Estate Services.

“Grubb & Ellis has a long history of success throughout the region, and we are focused on growing our presence to better serve the needs of our clients.”

Burback joined Grubb & Ellis in 2005 as managing director of the company’s South Bay office in Los Angeles. He most recently served as head of the company’s national Industrial Group. He has served as the acting managing director of the Anaheim office for the past six months.

“I am very excited about this new opportunity, and I’m especially looking forward to working with our professionals and our clients. We are committed to making Grubb & Ellis the real estate services provider by exceeding our clients’ expectations,” said Burback.

Prior to joining Grubb & Ellis, Burback was a principal at Northwest Realty Advisors for six years where he specialized in commercial investment services. He also spent four years as the senior vice president and general manager of Colliers International’s Portland office, a positioned he began in 1995.

Earlier, he spent 14 years with CB Richard Ellis in various management positions, including senior vice president and managing director of the firm’s Inland Empire office.

Burback holds a bachelor’s degree from the University of Southern California. He is a member of NAIOP and CoreNet Global.

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

Grubb & Ellis Realty Investors Secures 90,000-SF Lease Renewal at Congress Center in Chicago

CHICAGO (Feb. 4, 2010) – Grubb & Ellis Realty Investors LLC today announced that it has secured a 90,138-square-foot lease renewal with AkzoNobel for space at Congress Center, (top centered photo)  a 16-story, Class A office building located in Chicago’s West Loop (bottom centered photo)

The lease renewal extends AkzoNobel’s lease by six years, through the end of 2019. Grubb & Ellis Realty Investors manages the property on behalf of multiple investment programs and individual investors.

“In the midst of an incredibly difficult commercial real estate environment, Grubb & Ellis Realty Investors is very pleased to have executed this lease,” said Robert Assoian, senior vice president of Asset Management, who oversees the asset on behalf of the owners.

“By renewing and extending AkzoNobel’s lease, we have further stabilized Congress Center and realized additional value on behalf of the investors we serve.”

Located at 525 W. Van Buren St., Congress Center offers approximately 520,000 square feet of rentable space.

 Built in 2001, the building’s amenities include a two story lobby that features granite, glass, exotic wood and stainless steel trim, 24-hour monitored building security and a secure heated indoor executive parking garage.

Acquired by Grubb & Ellis Realty Investors on behalf of investors in January 2003, Congress Center is situated one block from Union Station, Chicago Transit Authority lines and in close proximity to the Congress Expressway. In addition to AkzoNobel, notable tenants include Amtrak, the United States General Services Agency and North American Insurance.

Mark Parrish and Sara Spicklemire of Grubb & Ellis Company negotiated the lease on behalf of Grubb & Ellis Realty Investors.

 Rob Schmidt, A.J. Magner and A.J. Whitehead of Jones Lang LaSalle represented AkzoNobel.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

Real Estate Capital Market Leaders Cautiously Optimistic

LAS VEGAS,  NV -- As lenders gathered here this week to discuss income-property financing programs, nervous optimism filled the air.

The overall forecast is mildly positive -- particularly as compared to 2009. Funding sources were battling liquidity in 2008; rebuilding balance sheets in 2009; and are now earning profits in 2010 which means mortgage investing is back in vogue again.

However, lenders fear more uncertainty as the capital markets are imbalanced with relationship to income-property supply & demand fundamentals. Based on key opinions of various lenders an economic outlook relating to realty capital markets is summarized as follows:

· Modest job growths combined with controlled government spending discussions directly affect the current economic recovery, slowly trickling into the real estate capital markets. A 10%+ unemployment rate is still problematic, though.

· Slowly recovering economy due to improved CMBS pricing, housing sales and employment statistics.

· Policymakers are also helping by holding interest rates low at levels favorable for real estate markets.

· Industry leaders are reporting a pickup in capital activity including hiring staff, allocating more funds for advertising/marketing and bidding on more transactions.

· Commercial-property problems loom including hanging vacancy (especially office and retail), less space needs, increased operating costs.

· As lenders workout of their legacy problems, new funding goals surface which are clearly more ambitious than 2009.

· Life companies under less pressure than banks to liquidate assets, if recovery is on the horizon – longer-term balance sheet hold.

· Still a “buyers market” bias due to flat or declining pricing and lower demand, a worrisome scenario for sizing property values.

In summary, industry experts agree that these and other factors will assure that mortgage capital will be readily available in the foreseeable future. The realty capital markets should continue on a path of greater liquidity.

 Yet the biggest trick will be finding suitable real estate investments as the property markets are recovering slower than the capital markets.

Contact: Nat Zvislo, Research Director, Toll Free 800-994-RECI (7324), director@reci.com
http://www.reci.com/

HFF secures financing for ground leases totaling 255 acres in California, Indiana and Pennsylvania

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $6 million in financing for three ground leases totaling 255 acres in California, Indiana and Pennsylvania.

Working exclusively on behalf of the borrower, an affiliate of The LCP Group, L.P., HFF managing director Mark West (top right photo)  placed the 38-month, fixed-rate permanent loan with a Texas-based life insurance company.

LCP, headquartered in White Plains, New York, is a private real estate investment banking firm that has been acquiring, syndicating and overseeing real estate investments nationally since 1974.

The three parcels of land are improved with warehouse and distribution facilities leased to an international food company. The Pennsylvania property is situated on 86 acres at 555 Nestle Way in Breinigsville (Allentown); the Indiana property is located on 118 acres at 2909 Pleasant Center Road in Fort Wayne; and the California property is situated on 50.8 acres at 2 Nestle Way in Lathrop (Stockton).

Contacts:

Mark E. West, HFF Managing Director, (214) 265-0880,  mwest@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing,  (713) 852-3500, krmurphy@hfflp.com

HFF named to market for sale trophy office tower in Pittsburgh

PITTSBURGH, PA – The Pittsburgh and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have been named to market for sale EQT Plaza (top left photo) , a 32-story, trophy office tower in Pittsburgh, Pennsylvania.

HFF executive managing directors John Pelusi (middle right photo)  and Gerard Sansosti   in Pittsburgh along with managing directors Jeff Bramson (bottom left photo) and Jaime Fink in Chicago are marketing the property on behalf of the seller.

EQT Plaza is a 615,942 rentable-square-foot, trophy-quality office tower located at 625 Liberty Avenue in Pittsburgh’s central business district.


 The property is the corporate headquarters for EQT Corporation and is 96.2% leased with minimal near-term lease rollover.

Additional tenants include Cohen & Grigsby, McGuire Woods, and National Union Fire Insurance. The building features a full-service health club, a 5,170-square-foot conference center, underground parking garage and a Morton’s of Chicago restaurant.

 The current owner has invested nearly $3 million during the last five years on plaza and lobby renovations, a new life safety system, and fitness and business center upgrades.

”This is the premier address in Pittsburgh as evidenced by the property’s high occupancy rate,” said Sansosti. “The average lease term is an attractive 9.5 years making this an exceptionally stable office asset.”

Contacts:

Gerard T. Sansosti, HFF Executive Managing Director, (412) 281-8714, gsansosti@hfflp.com
 Jeffrey M. Bamson, HFF Managing Director, (312) 528-3650,  jbramson@hfflp.com
Kristen M. Murphy,   HFF Associate Director, Marketing, (713) 852-3500,  krmurphy@hfflp.com

HFF named to market for sale Residence Inn by Marriott in downtown Milwaukee

CHICAGO, IL – The Chicago and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have been named to market for sale the 131-suite Residence Inn (centered  photo below) by Marriott in downtown Milwaukee, Wisconsin, a super high-quality urban select service hotel.

HFF senior managing director Dan Peek (middle right photo) , director Danny Kaufman  and managing director Jaime Fink (Wisconsin Lic. #54163) (middle left  photo)  will lead the investment sales team on behalf of the owner, Investcorp International, Inc.

The hotel is being sold with the potential for a new investor to assume attractive in-place, fixed-rate, financing.

The Residence Inn is located at 648 North Plankton Avenue, along the west bank of the Milwaukee River and West Wisconsin Avenue, in a high density, in-fill area at the heart of downtown Milwaukee’s central business district.

Completed in 2001, the property underwent a significant $1.8 million ($14,000 per room) renovation in 2008.

 The renovation impacted all areas of the hotel and was particularly focused on the suites (FF&E replacement) and high-touch areas of the property.

The property is downtown Milwaukee’s only all-suite hotel and is part of a larger mixed-use re-development of the landmark former Gimbel’s (later Marshall Field’s) department store.

The hotel successfully maintains the look and feel of the original building’s neoclassical architecture while providing a thoroughly modern physical plant, amenities, and features.

“The Residence Inn is a landmark property; a dominant and highly recognizable hotel. It is located at the nexus of downtown Milwaukee’s office, retail, convention, entertainment, and residential districts. The hotel offers guests high ceilings and windows, large suites and best-in-class finishes.

" The property’s Marriott brand affiliation is also a significant competitive advantage in terms of driving room- night demand and rate. The Residence Inn is positioned for strong improvements in operating performance as the broader economy improves,” said Peek.

“The Residence Inn consistently outperforms and leads the downtown Milwaukee market, and its competitive set, which includes several well established full-service hotels.

" The property’s focus on extended stay and corporate business, combined with the property marketing team’s mature relationships with the city’s top demand generators, allow it to maintain historically high and stable occupancy and rate levels,” added Kaufman.

Contacts:


Daniel C. Peek, HFF Senior Managing Director, (305) 448-1333, dpeek@hfflp.com
 Daniel A. Kaufman, HFF Director , (312) 528-3650, dkaufman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Ardaman & Associates selected by Seminole County, FL school district

ORLANDO, FL— Ardaman & Associates Inc. was recently selected by the school board of Seminole County Public Schools for a continuing services contract.

 Under its scope of services, Ardaman is providing geotechnical engineering, construction materials testing and threshold inspection services on an as-needed basis to the school district.

The one-year contract has an option for two, one-year renewals. Ardaman’s Orlando area office will perform services for this contract. The contract amount is undetermined, as engineering services will be billed per task order according to an approved fee schedule.

Nordarse & Associates Inc., Professional Services Industries Inc. and Universal Engineering Sciences Inc. were also selected for contracts.

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

Hotel Room Tax Collections Improve in Orange County, FL

ORLANDO, FLORIDA -- County Comptroller Martha Haynie (top right photo) announced today that resort tax collections received by the County in January for the hotel collection month of December 2009 were $12,376,000. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that December 2009 collections were slightly higher (0.3%) than December 2008. “Year over year, December tends to be a stable month. Even a minor increase like this is a welcome sight,” Haynie stated.

For a complete copy of Haynie's report with statistics, please contact:
Martha O. Haynie (407) 836-5690

Joan Randolph, Executive Assistant, Comptroller's Administration, 201 S. Rosalind Avenue, Orlando, Florida, 32801, Tele: 407-836-5986, Fax: 407-836-5599

Cambridge Optimistic on Senior Housing and Healthcare Industries' Recovery in 2010

CHICAGO, IL--The Great Recession of 2009 wasn’t especially kind to the owners of commercial real estate assets, but the pain was spread around unevenly.

“In hindsight, it was a breakthrough year for senior housing and healthcare properties as the extent to which senior housing demand is sustainable during different economic environments began to more fully sink in with lenders and investors,” funding expert Jeffrey A. Davis (top right photo) observes.

“Last year, senior housing/healthcare properties were the strongest real estate asset class in most lender and investor portfolios, and this isn’t likely to change as the economy continues to muddle through what has been a slow revival process to date,” he said.

Davis is Chairman of Chicago-based Cambridge Realty Capital Companies, one of the nation’s leading senior housing/healthcare lenders. The company is consistently ranked among the top FHA-approved HUD healthcare lenders and is involved in direct property acquisitions, joint ventures and sale leasebacks through its Cambridge Investment and Finance Co. subsidiary.

For a complete copy the company's news release, please contact:
Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap

Orlando Poised for Strong Multi-Housing Recovery, CBRE Predicts

ORLANDO, FL--CB Richard Ellis presents its newest Multi-Housing Market Trends Report for the Orlando MSA.


While 2009 was a challenging year for the national and local multi-housing market, there were signs of improvement heading into 2010.

Orlando is forecast to gain 8,000 new jobs by year end, and more than 161,000 jobs over the next five years.

 Rents, which have declined on a year-over- year basis for the last three years, will hold steady in 2010, and are forecast to show significant improvement thereafter increasing 13.3% by 2014.

With no new supply in the pipeline and job growth expected again this year, Orlando seems poised to see one of the strongest recoveries in the country.

Following are the executive summary trends and forecast. Please refer to the following pages for more detail on the Orlando market.

Orlando Operational Trends and Forecast:

•Average rents declined from $842 per month to $815 (2009 Jan-Dec)
•Average occupancy declined from 91.9% to 90.1%
•Occupancy held steady in the second half of the year
•The biggest occupancy loss occurred in the 1Qtr of 2009
•Concessions remain prevalent in most submarkets, but declined in the 3rd and 4th Qtr
•The condo shadow market has largely been absorbed and is stabilized from a rental basis
•Occupancy is forecast to increase 1% this year to 91.1%
•Occupancy is projected to increase from 90.1% to 94.9% by 2013 (MPF Research)
•Rents are projected to increase from $815 to $923 by 2014 (MPF Research)
•Several submarkets are projected to outperform the MSA: Altamonte Springs/Longwood, East Orange County, North/East Seminole County, Southwest Orange County, and Winter Springs

For a complete copy of the report, please contact:

Shelton D. Granade, (top right photo) Senior Vice President, 407.839.3103, shelton.granade@cbre.com
Luke Wickham, (middle left photo) Director of Operations, 407.839.3130, Luke.wickham@cbre.com

NAI Realvest negotiates new long term lease for 3,960 SF at Maritime Center in Port Canaveral, FL

ORLANDO – NAI Realvest recently negotiated a new long-term lease agreement for 3,960 square feet of office space at 445 Challenger Rd. at the Maritime Center in Port Canaveral.

NAI Realvest Associates Richard Leuner and Managing Partner Paul P. Partyka, (top right photo)  negotiated the transaction representing the landlord, Canaveral Port Authority.

The tenant, McLean Va.-based Booz Allen Hamilton, Inc., a strategy and technology consulting firm, leased the space for five years to relocate its Brevard County field office and facilitate expansion. Eric Jackson of Jones Lang LaSalle Americas, Inc. represented tenant in the transaction.

For more information, please contact:
Paul P. Partyka, Managing Partner, NAI Realvest, 407-875-9989, ppartyka@realvest.com
Richard Leuner, Associate NAI Realvest, RLeuner@realvest.com;
Patrick Mahoney, President, NAI Realvest, 407-875-9989, pmahoney@realvest.com
Beth Payan or Larry Vershel, Larry Vershel Communications, Inc., 407-644-4142

Stirling Sotheby’s International Realty Named Exclusive Sales Representative For 36-Acre Orlando Equestrian Estate

 ORLANDO - Stirling Sotheby’s International Realty was recently named sales and marketing representative for an exclusive 36-acre equestrian estate http://www.orlandohorsefarmforsale.com/ on Clarcona-Ocoee Rd. in Orlando, Fla.

Roger Soderstrom, (top right photo)  founder and owner of Stirling Sotheby’s International Realty, said the $8.9 million estate property is a horse lover’s dream, featuring an 11,000 square foot luxury residence with an attached garage to accommodate six cars and a motor home.

“The property features a separate riding area and a jumping area with an English Manor horse barn,” Soderstrom said.

International and out-of-state buyers will love the location, less than 30 minutes from Disney World and Universal Studios, Soderstrom added.

Stirling Sotheby’s International Realty associates Jack Jeffcoat, Kyle Hogan and Mike Sapourn, with the company’s World Marketing Center, negotiated the exclusive sales and marketing agreement and serve as principal contacts for the property, Soderstrom said.

For more information,  contact:
Mike Sapourn, Stirling Sotheby's International Realty, Sales Associate 321- 537-3175;
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Grubb & Ellis Commercial Florida Promotes Mia Jarrell – First Woman in 30 Years to head Brokerage Firm in Tampa Bay

TAMPA - Grubb & EllisCommercial Florida has promoted Mia Jarrell  (top right photo)  to managing director of the firm’s Tampa office – the first woman to head a full-service national brokerage firm in the Tampa Bay region in more than 30 years.

Jeff Sweeney, (bottom left photo) president of Grubb & Ellis Commercial Florida, said Jarrell, who earned her masters in business administration from the University of Miami in 1990, joined Grubb & Ellis Commercial Florida five years ago and she was recognized as the firm’s top broker for 2009.

Jarrell has leased or sold properties valued at more than $61 million and totaling more than 500,000 square feet of space. Her largest transactions include 62,000 square feet of office space for Citizens Insurance in Tampa, 40,000 square feet of space for Morgan & Morgan law firm in Tampa, and 38,000 square feet of space for Hilton World Reservations.

Jarrell is currently pursuing her CCIM professional certification.

“Mia Jarrell is an ambitious, highly organized executive who will play a big role at Grubb & Ellis Commercial Florida in the Tampa Bay region,” Sweeney said.

Contacts:
Grubb & Ellis Commercial Florida, 3030 N. Rocky Point Drive W., Tampa, FL 33609, http://www.commercialfl.com/;
Mia Jarrell , Managing Director 813-639-1111;
Jeff Sweeney, President 407-481-5387
Larry Vershel 407-644-4142