Westin Hotel & Resort Pasadena Named Employer of the Year by Mayor’s Committee for Employment of People with Disabilities

 PASADENA, CA, Nov/ 7, 2011—The Westin Hotel & Resort Pasadena (top left photo) won the community awards trifecta today at a special awards breakfast hosted by Pasadena Mayor Bill Bogaard (middle right photo) and the Mayor’s Committee for Employment of People with Disabilities. 

The hotel was named Employer of the Year for its work with the Pasadena Unified School District’s Workability I Program, was presented with a Congressional Commendation from California Congressman Adam Shiff, and received commendations from the state Senate and Assembly.

The Workability program provides pre-employment skills training and worksite experience for special education students age 16 to 22 making the transition from school to work.  For the 2010/2011 school year, the Westin Hotel & Resort Pasadena employed three students in two areas of the hotel:  Laundry/Housekeeping and Stewarding.

“To find an employer like the Westin, with a very public image, that is willing to work with high school students with disabilities in a program that gives them the confidence they need to go out into the workforce, is really remarkable,” said Chris Otero, committee chair.  “They have proven to be true champions for people with disabilities.”

“Everyone at our hotel was so proud to be part of this program,” said Celsa Zamora-Padilla, director of human resources who spearheaded the Westin’s involvement.  “The students worked hard, and our associates immediately welcomed them as part of the team.  It was a great partnership for all concerned and something we’ll continue to support.  We are tremendously honored to receive this award and these commendations, and we’re looking forward to working with the newest group of students that started last week.”

“Over the years, we have worked with many companies that eagerly and willingly employ our students,” said Ana Gonzalez, Workability community liaison specialist.  “The Westin was our nominee for Employer of the Year because of the warmth and hospitality they showed to our students.  We have never felt so welcome in a workplace.  Our students and coaches were in tears the last day.”

At its annual award ceremonies in May, Workability named The Westin Hotel and Resort Employer of the Year from 48 other area employers who participate in the program. 

  

For more information about HEI, visit the company’s website, http://www.heihotels.com/.

Contact: Chris Daly, President, Daly Gray, Inc., Ph: 703-435-6293

Cell: 703-864-5553

Sembler Highlights Partial List of For Lease Properties

ATLANTA, GA -- Visit us during the Southeast ICSC Conference, Nov. 15-16. Booth #414.

(Perimeter Place, top left photo)

Atlanta, GA | 452,000 SF GLA
Anchors:  SuperTarget,
Ross Dress for Less, Office Max
Contact:Steven St.Paul

(The Prado, bottom  right photo)

Atlanta, GA | 345,000 SF GLA
Anchors:  Target, Staples,
Publix, LifeTime Fitness
Contact:  Steven St. Paul

Media  Contact:

5590 Roswell Road, Ste. 200 | Atlanta, GA 30342

Phone: 404-847-1800 or 1-800-940-6000

Jennifer.Ledbetter@Sembler.com               

Related Cos. Named in Federal Probe of Fannie Mae

WASHINGTON, DC—The Wall Street Journal reports that, according to unidentified government officials,  the Related Cos. of New York City has been named in a federal Inspector General’s investigation of a business transaction with Fannie Mae.

The WSJ reports the subpoena to Related includes questions about whether the developer had discussed employment opportunities with Fannie officials,

A Related spokeswoman told the WSJ  the joint venture, structured by Fannie, has no employees.

The WSJ reports anonymous government sources told the newspaper Fannie placed at least four employees on administrative leave after learning of the investigation.

The investigation is being carried out by the inspector general of the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac.

The WSJ reports officials from the U.S. Attorney's Office for the Eastern District of Virginia are also involved.

HFF Austin expands with addition of Robert Wooten and Kelsey Roop as associate directors

 AUSTIN, TX – HFF announced today that its Austin office has expanded with the

addition of Robert Wooten as an associate director in the debt placement group and Kelsey Roop as an associate director in the investment sales group. 

Mr. Wooten will focus on debt and structured finance transactions with a specific focus on the Austin and San Antonio markets.   He joins the Austin office from HFF Houston, where he worked in the debt placement group since 2007.  Mr. Wooten holds a Bachelor of Science degree in Economics from The University of Texas at Austin.

Ms. Roop is relocating to the Austin office from HFF Dallas where she has worked for the investment sales group since 2007.  She will primarily focus on office investment sale transactions in the Austin and San Antonio markets with a secondary focus on industrial and retail transactions.  Prior to HFF, she was the director of market research with The Staubach Company in San Antonio.  Ms. Roop is a licensed real estate salesperson in Texas and holds a Bachelor of Business Administration degree from the University of Texas at Austin.

“Robert and Kelsey have four years of experience with HFF in our Dallas and Houston offices and have added a tremendous amount of value to their respective teams and offices.  They have extensive experience in the Austin and San Antonio markets and we are eager to have them as a part of the growing Austin office as we move forward within our inaugural year,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office.

Contacts: 

Sean Sorrell, HFF Senior Managing Director, (512) 532-1900                                             

ssorrell@hfflp.com                             

Douglas Opalka, HFF Managing Director, (512) 532-1900                                                       

dopalka@hfflp.com                       

 Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com                       

Institutional Property Advisors Closes North Dallas Multifamily Sale

  

RICHARDSON, TX –Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of The Venue (top left photo), a 285-unit, 283,577-square foot, transit-oriented development in the Telecom Corridor area of Richardson, an affluent North Dallas suburb. The terms of the sale were not released.

Will Balthrope (middle right photo), an IPA senior director, and Lindsay Allen, an IPA director, represented the seller, Legacy Partners Residential Development and The General Investment & Development Cos. (GID) The buyer was Illinois-based Amli Residential.

 “The Venue is an extremely high-profile property,” says Balthrope. “We had three public real estate investment trusts bidding for it fiercely.”

“Almost every major apartment owner in the country was tracking this sale,” adds Allen.

The property is located at 2301 Performance Drive, 100 yards from a DART rail stop in the Galatyn Park urban center on U.S. Highway 75

Developed in 2008 by Legacy Partners, the Venue is a “distinctive urban resort-style residential property,” according to Balthrope. The design incorporates a musical/theatrical theme to complement the nearby Charles W. Eisemann Center for Performing Arts and Corporate Presentations (lower left photo). The asset also includes approximately 6,000 square feet of retail space.

The 285-unit, four- and five-story mid-rise includes 35 luxury floor plans averaging 995 square feet in size.

The Telecom Corridor is a large concentration of technology firms and other businesses located along U.S. Route 75 between Interstate 635 and President George Bush Turnpike.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716 http://www.institutionalpropertyadvisors.com/

Laguna Beach, CA Festival Center Building Listed at $10.7 Million

 LAGUNA BEACH, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for the Laguna Beach Festival Center building (top left photo), a 19,780-square foot property fronting Laguna Canyon Road, California State Route 133 in Laguna Beach. The sales price of $10.7 million equates to $541 per square foot.

Paul Bitonti (middle right photo), a vice president investments in Marcus & Millichap’s Newport Beach office, is representing the seller, a local private investor.   

“The Festival Center building is a unique owner-user investment opportunity located at the gateway to a special district for the arts in Laguna Beach,” says Bitonti.

 “The art district creates space for open-air festivals, kiosks and outdoor events that are prohibited elsewhere in the city. The world-famous Sawdust Art Festival (Logo by Jesse Miller at jmillerart@hotmail.com)  the Art-A-Fair festival, the Pageant of the Masters, the Laguna Playhouse and the Seven Degrees event facility are all located within this special district,” adds Bitonti.

The property is located at 805-859 Laguna Canyon Road, near the Pacific Coast Highway and California State Highway 73. The building is a short walking distance from Laguna’s main beach, restaurants, shops and galleries.

The facility is currently 25 percent occupied by the Laguna Culinary Arts cooking school.

California State Highway 73 has an average daily traffic count of 81,000 and California State Highway 133, Laguna Canyon Road, has an average daily traffic count of 36,000. The average household income within a one-mile radius of the property is $151,019.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

MBA Says Third Quarter Commercial/Multifamily Mortgage Originations Up 98 Percent from Last Year, 10 Percent from Last Quarter

 Washington, DC  - Third quarter 2011 commercial and multifamily mortgage loan originations were 98 percent higher than during the same period last year and 10 percent higher than the second quarter of 2011, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

 "Lending on commercial and multifamily properties continues," said Jamie Woodwell (top right photo), MBA's Vice President of Commercial Real Estate Research.

"Mortgage originations by life company portfolios hit another new record in the third quarter, and lending by bank portfolios and Fannie Mae and Freddie Mac also picked-up. Mortgage originations for the CMBS market, which was caught up in the global economic uncertainty of recent months, declined from last quarter, but were higher than last year's Q3 level."

The 98 percent overall increase in commercial/multifamily lending activity during the third quarter of 2011 was driven by increases in originations in most property types.

When compared to the third quarter of 2010, the increase included a 406 percent increase in loans for hotel properties, a 164 percent increase in loans for retail properties, a 103 percent increase in loans for office properties, a 39 percent increase in loans for multifamily properties, a 3 percent decrease in industrial property loans and an 8 percent decrease in health care property loans.

Among investor types, loans for commercial bank portfolios increased by 433 percent compared to last year's third quarter. There was also a 169 percent increase in loans for conduits for CMBS, a 61 percent increase in loans for life insurance companies and a 47 percent increase in loans for Government Sponsored Enterprises (or GSEs - Fannie Mae and Freddie Mac). 

 Third quarter 2011 commercial and multifamily mortgage originations were 10 percent higher than originations in the second quarter of 2011. Compared to the second quarter, third quarter originations for retail properties saw a 37 percent increase.

There was an 8 percent increase for office properties, a 4 percent increase for hotel properties, a 2 percent decrease for multifamily properties, a 14 percent decrease for industrial properties and a 30 percent decrease for health care properties.

Among investor types, between the second and third quarters of 2011, loans for commercial bank portfolios saw an increase in loan volume of 55 percent, loans for GSEs saw an increase in loan volume of 32 percent, originations for life insurance companies increased 3 percent and loans for conduits for CMBS decreased by 48 percent.

 To view the report, please visit the following Web link: http://www.mortgagebankers.org/files/Research/CommercialOriginations/3Q11CMFOriginationSurvey.pdf.

 Contact:  Matt Robinson at mrobinson@mortgagebankers.org or 202-557-2727.

Developers Propose Construction Of 3 Condo Towers In Sunny Isles Beach, FL

 MIAMI, FL -- Despite hundreds of unsold units remaining from the South Florida boom, developers are proposing the construction of at least three oceanfront condo towers for the barrier island city of Sunny Isles Beach in Northeast Miami-Dade County, according to a new report from CondoVultures.com.

Developers of all three proposed towers have approached the city of Sunny Isles Beach with their respective plans, the city's attorney Hans Ottinot (top right photo) said. 

Each of the proposed projects - with a combined 524 units - is currently categorized as “planned,” "under construction," or "planned / active" on the city of Sunny Isles Beach's "Existing & Planned Developments" list, according to a February 2011 report posted on the city’s website as of Nov. 3. 

At the current 2011 sales pace of nearly 45 new condo transactions per month, the unsold developer units in Sunny Isles Beach would be absorbed by the end of 2012, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide To Sunny Isles Beach™.

Given the shrinking inventory of developer units from the real estate boom, Sunny Isles Beach is poised to follow the emerging South Florida trend of new condo construction as 13 towers with nearly 3,500 units are already being proposed for the tricounty region of Miami-Dade, Broward, and Palm Beach as of Oct. 31, 2011, according to the CondoVultures.com Preconstruction Condo Projects list.  

"We expect the ultra-luxury Regalia condo tower - proposed as one unit per floor - to be one of the first new Sunny Isles Beach project to launch presales since the crash," said Peter Zalewski (top left photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"Once the presales formally begin, the industry will be closely monitoring the Regalia project as the location - oceanfront next to the exclusive enclave of Golden Beach - and the pricing - starting at more than $1,000 per square foot - make the proposed 42-story tower an interesting test case for the Sunny Isles Beach market."

Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

Sara Hill Joins McCarthy as Director of Business Development

 NEWPORT BEACH, CA ––McCarthy Building Companies, Inc., one of Southern California’s preeminent commercial building contractors, recently hired Sara Hill (top right photo) as director of business development for the firm’s Southern California Division.

In her new position, Hill is responsible for maintaining and growing McCarthy’s business in the education (K-12), higher education, commercial, government and parking structure markets.

She will be focusing on developing strategic relationships and creating key project opportunities within Orange and Los Angeles counties as well as in the Inland Empire region of Southern California.

Hill brings more than 11 years of marketing and business development experience in the architecture, engineering and construction industry.  Prior to joining McCarthy, Hill served as director of business development for Seville Construction Services (SCS) in Pasadena, Calif. where she focused on growing business for the construction management firm’s transportation, education and other public projects ranging from $10 million to over $20 billion. Prior to her work with SCS, she was business development manager for Rossetti Associates, an award winning, nationally recognized architectural firm.

 “We are ecstatic to be working with Sara in our Southern California Business Development group,” said Jim Madrid, vice president, business development for McCarthy. “Her expertise and key relationships throughout Southern California will enable McCarthy to further grow our existing markets and will also enable us to explore new opportunities.”

More information is available at http://www.mccarthy.com./

Media Inquiries: 

Laura Mickelson (LM Communications),  (949) 453-0851

Susan Garritano (McCarthy Building Companies, Inc.), (314) 968-3300

Champion Real Estate Hires Parker Champion as Director of Leasing

 LOS ANGELES, CA, Nov. 4, 2011 – Champion Real Estate Company, one of the West Coast’s premier commercial and multi-family real estate developer and investor, announced today that Parker Champion (top right photo) has been hired as Director of Leasing.

 In addition to his role with Champion Real Estate Company, Champion will serve in a dual role as a retail leasing specialist with Wilson Commercial Real Estate.  

  “We are excited about Parker’s role in our company while continuing to serve his clients at Wilson Commercial Real Estate,” said Bob Champion (lower  left photo), president of Champion Real Estate Company.  “In addition to his responsibilities at Champion Real estate, Parker will continue representing Dollar Tree, Inc. in its store expansion program.” 

“Parker will continue to be a great asset to my team as we work to assist Dollar Tree with their real estate needs,” said Scott Burns, senior vice president of Wilson Commercial.

Prior to joining the firm, Champion worked for Bascom Group, a private equity firm in Orange County, Calif., specializing in the acquisition of value-add multi-family properties.

He graduated from the University of Southern California with a Bachelor of Science in Policy, Planning and Development. His family has owned and developed commercial and multi-family real estate in the California market for more than 30 years.

 For more information on Champion Real Estate Co. and Wilson Commercial Real Estate, please visit www.championrealestatecompany.com and www.wcre.net

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

Cousins Reports Results for Third Quarter of 2011

 ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ):

Highlights

• Funds From Operations (FFO) of $0.14 per share.
• Leased or renewed 787,000 square feet of office and retail.
• Commenced Mahan Village retail development.

Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter ended September 30, 2011.

“We were very pleased with our third quarter operating performance,” said Larry Gellerstedt (top right photo), CEO of Cousins. “Our team continues to deliver strong results, particularly on the leasing front, as we continue to simplify the platform and seek attractive value creation opportunities.”

Portfolio Activity

• Leased or renewed 420,000 square feet of office space and 367,000 square feet of retail space.
• Office portfolio remained 91% leased and Retail portfolio increased to 89% leased.  

• Transaction Activity

• Commenced construction of Mahan Village, a 147,000-square-foot, Publix-anchored shopping center in Tallahassee, Florida.
• Sold One Georgia Center (lower left photo), a 376,000-square-foot office building in Atlanta, Georgia, for $48.6 million, generating a gain, net of noncontrolling interest, of $1.2 million.
• Sold 126 residential lots for net gains of $519,000.
• Subsequent to quarter end, placed King Mill Distribution Park Building 3, a 796,000-square-foot industrial building in Atlanta, Georgia, under contract for sale. This transaction is expected to close in the fourth quarter.

For a complete copy of the company’s news release and statistics, please contact:

Gregg D. Adzema, 404-407-1116

Executive Vice President and Chief Financial Officer

greggadzema@cousinsproperties.com

or

Cameron Golden, 404-407-1984

Director of Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com

Marcus & Millichap Lists Bank United Building in Delray Beach, FL

  

DELRAY BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing to market the 50,887-square foot Bank United Building (top left photo) in Delray Beach, Fla, according to Greg Matus, Vice President/Regional Manager of the Fort Lauderdale office.  The asset is listed for $8.9 million.

 Vice President Investments Douglas K. Mandel (bottom right photo) of Marcus & Millichap’s Fort Lauderdale office secured the listing.  He is representing the seller, a limited liability company from Delray Beach, Fla.

“This is a unique opportunity to acquire a landmark building that is conveniently positioned along West Atlantic Avenue and equidistant to Interstate 95 and the Florida Turnpike. 

The property is 93 percent leased with a diverse tenant base,” says Mandel. The Bank United Building is located at 5300 West Atlantic Avenue in Delray Beach, Fla.

Press Contact: Ashley Steele, (954) 245-3400

Jones Lang LaSalle Signs Honeywell to Long-Term Renewal in Glendale, AZ; Keeps 400 high-paying jobs in the local market

  

  PHOENIX, AZ– Jones Lang LaSalle has renewed Fortune 100 firm Honeywell (NYSE:HON) in a long-term, 252,000-square-foot industrial lease that keeps the company, and as many as 400 local jobs, at its aerospace facility at 19019 N. 59th Ave (top left photo).in Glendale, Ariz.

Honeywell has operated out of the Glendale industrial/flex building for 25 years.

Managing Directors Anthony J. Lydon, SIOR (top right photo), Marc Hertzberg, SIOR (middle left photo), Don Mudd (lower left  photo) and John Bonnell (middle right photo) in the Phoenix office of Jones Lang LaSalle represented the building owner, Lexington Realty Trust (NYSE:LXP), in the lease.

Andy Sexson of Colliers International in Chicago represented Honeywell.

“This lease reflects a confidence that Phoenix can continue to produce, deliver and retain the top-flight engineers that Honeywell needs for its business,” said Lydon. “It also protects a sizeable number of well-paying jobs, which is a win for the local economy.”

Honeywell has approximately 122,000 employees worldwide, including more than 19,000 engineers and scientists. It serves customers with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.

The building owner, Lexingon Glendale LLC, is an affiliate of Lexington Realty Trust—a leading investor in single-tenant commercial properties throughout the United States.

“Phoenix has seen a sharp drop in its availability of big block industrial space,” said Lydon. “Right now, we only have three local industrial buildings over 200,000 square feet that are available to tenants. This has some companies pursuing build-to-suit alternatives and has developers considering inventory industrial construction. These are significant steps forward in the real estate cycle for this product type.”

Contact:

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

http://www.focusaz.com/

Clark/McCarthy JV Team Reaches Structural Topping Out Milestone for Camp Pendleton Naval Replacement Hospital Project in San Diego, CA

SAN DIEGO, CA --  – The joint venture design-build team of Clark Construction Group, LLC, and McCarthy Building Companies, Inc., has topped out the 500,000-square-foot Naval Replacement Hospital Project at Camp Pendleton, having erected more than 4,000 tons of structural steel to reach the milestone.

The construction team, with Naval Facilities Engineering Command (NAVFAC) Southwest, marked the completion of the project’s structure today with a jobsite luncheon and ceremony.

 The Replacement Hospital at Camp Pendleton Project construction team has worked more than 250,000 man-hours over the past 14 months, with zero lost-time incidents. The project is currently one month ahead of schedule.

 When complete in early 2014, the new $394 million, multi-level hospital will encompass inpatient medical facilities with 54 patient rooms accommodating up to 60 beds, ancillary departments, emergency care, primary care, specialty care clinics, and support spaces and facilities for non-ambulatory patients who require stays in excess of 24 hours.

 Clark/McCarthy is a joint venture of Clark Construction Group - California, LP, and McCarthy Building Companies, Inc.

For a complete copy of the company’s news release, please contact:

Bonnie Kutch, bkutch@kutchco.com, (619) 299-1010, www.kutchco.com         

Eric Fulton, eric.fulton@clarkconstruction.com, cell (619) 322-5001

www.mccarthy.com.

Cousins Signs Retailers for Emory Point in Atlanta

 ATLANTA, GA (Nov. 4, 2011) – Cousins Properties Incorporated (NYSE: CUZ) today announced the first group of retailers to sign leases at Emory Point rendering (top left photo).

Located in the Clifton Corridor, adjacent to the Centers for Disease Control and Prevention and in close proximity to Emory University and Emory Healthcare, Emory Point is a vertically integrated mixed-use development.

The first group of retailers includes: CVS, Jos A. Bank, Marlow’s Tavern, Which Wich, Solar Dimensions and Carriage Cleaners.

 “From locally owned stores and restaurants to national chains, Emory Point will provide the trade area with a unique mix of upscale retail and restaurant options,” said Larry Gellerstedt (middle right photo), Cousins President and CEO.  “Additionally, Emory Point retailers will create approximately 600 jobs for the local community.”

 The $100+ million Phase I of the project will include more than 80,000 square feet of retail space and 443 luxury apartments. Construction began in July and is expected to be complete by fall 2012. The second and third phases of the project will be developed according to market demand.

The development includes the first new retail project built in the trade area in 20 years; the largest private development start inside the Perimeter in more than three years; and the first partnership between Cousins and Gables – two Atlanta-based development companies.

 Contact:

Matt Scofield

JACKSON SPALDING for Cousins Properties

Image Creation, Cultivation and Communication

P  404.214.3554

E  mscofield@jacksonspalding.com

W jacksonspalding.com