Colliers International Central Florida Closes Auto Dealership Sale for $2.17 Million

ORLANDO, FL (March 15, 2012) – In an unusual case where an auto dealership property was purchased for its existing use, Colliers International Central Florida recently closed the sale of 53,662 square feet of enclosed space and 8,536 square feet of open covered space on 10.96 acres for $2,172,205.

Expanding Evolution Auto will move into the property at 2925 N Hwy 17-92 in Longwood, Fla., which was formerly occupied by David Maus Toyota.

Director Bill Parke (middle right photo), SIOR of Colliers International Central Florida represented the seller, FLTVT Dealership Property LLC, which owns numerous auto dealerships in Central Florida and nationally.

Director Sher Tolan (middle left photo) of Southern Commercial Real Estate represented the buyer, Ramy Properties.

The property includes four buildings, designed for showroom/office, service parts, body shop and used car office. The lighted parking lot can accommodate approximately 500 vehicles, and the property has excellent visibility and direct access from US 17-92.

 David Maus Toyota, which previously occupied the Longwood property, moved to a larger site on Rinehart Road in Sanford.

 “Finding a buyer for a vacant auto dealership in these challenging times is difficult because there are fewer auto dealers today than there were, say, four years ago,” said Parke. “It worked out well here that Evolution Auto was looking to expand and was interested in the property.”

 

“This location is a great fit for Evolution Auto,” said Sameer Asfoor (lower right photo), president of Evolution Auto. “We have great frontage on the road and find the area’s high density appealing. It allows us the long-term sustainability that we need to support our expansion plans.”

 Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

 Evolution Auto’s long-term plans include creating a service center to recondition incoming inventory before it is sent out to satellite locations for retail sale, setting up a dedicated auction area for non-retail units, and opening a café with offerings beyond most auto dealerships’ typical coffee or sandwich bars.

 MIAMI, FL – HFF announced today that it has been named to market for sale a portfolio of three grocery-anchored retail centers totaling 276,143 square feet in suburban communities of Houston, TX,  Columbia, SC and Tallahassee, FL. 

 The properties are: Kleinwood Center, Murray Landing and Vineyard Shopping Center. HFF is marketing the portfolio exclusively on behalf of the seller.   

Individual property details are listed below:

Kleinwood Center (top left photo),  built 2003, 148,964 SF, 89.3% occupancy, anchor, HEB, Spring, TX

Murray Landing (lower right photo), 2003, 64,359 SF, 100%, Publix, Irmo, SC.          

              

Vineyard Shopping Center, 2002, 62,821 SF, 84.7%, Publix,Tallahassee, FL     

 According to HFF, “the scarcity of HEB and Publix offerings, coupled with desirable anchor lease term and strong sales performance, presents a rare and unparalleled opportunity to acquire three high-quality grocery-anchored centers in a single transaction.”

 Contact:

Kristen M. Murphy,

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Urgo Hotels Adds Luxury Lake Placid, NY Resort to Managed Portfolio

  

BETHESDA, MD, Mar. 15, 2012—Urgo Hotels, a major operator, developer and owner of upscale and luxury hotels, today announced that it signed a long-term management agreement and now operates the Whiteface Lodge Resort  (top left photo) and Homeowner’s Association, a AAA four-diamond resort located in Lake Placid, N.Y. 

The resort brings to more than 30 hotels operated or owned by Urgo Hotels.

“Whiteface Lodge is a very special, award-winning resort that recreates a 21st century update to the great lodges of the Adirondacks,” said Kevin Urgo (middle right photo), principal and chief development and finance officer of Urgo Hotels.

 “We are particularly well-suited for this assignment because one of our key strengths is managing complex, one-of-a-kind resort properties and operating them to achieve their full market potential. 

“We look forward to working closely with the resort owner and the Homeowners Association Board to capitalize on Whiteface Lodge’s legacy of providing an authentic experience, renowned service and superior facilities and amenities.” 

Whiteface Lodge Resort offers 94 one-to-four bedroom suites along with a private residence club. 

The property features a 5,800 square-foot spa with six treatment rooms and a fully-equipped fitness center. 

The resort is ranked among the top US spa hotels by Conde Nast Traveller and also has been recognized for excellence by Travel+Leisure and Wine Spectator. 

Trip Advisor and Conde Nast readers also recommend the resort, which includes an indoor/outdoor swimming pool, an ice skating rink, 54-seat movie theater, bowling lanes, tennis courts, snowshoe/cross country trails and a private beach and canoe club.  The resort complex also has fractional and full-ownership units. 

‘’We believe there is a great opportunity for continuous improvement at the Whiteface Lodge,” said Serge Primeau (middle left photo), Urgo’s vice president of operations. 

 “We are committed to maintaining and enhancing the level of service while improving top-line performance and financial results. 

"We also are sensitive to the partnership with the fractional unit owners and have already started putting together programs that will enhance communications and make the Whiteface Lodge a memorable place to enjoy with their families.’’  

 Additional information about the company may be found at www.urgohotels.com.

  

 Contact:   

Jerry Daly or Chris Daly

(703) 435-6293

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Eagle Creek Golf Club to Host British American Chamber Golf Tournament to Benefit 'Dream Flight' Trip to Orlando, FL

ORLANDO, FL --- Eagle Creek Golf Club (top left photo) in East Orlando, a Celebration Golf Management course, will host more than 100 players for the annual British American Chamber of Commerce Tournament Friday, April 27, starting at 8:30 a.m. 

Gene Garrote (middle right photo), president of Celebration Golf Management, said the tournament will benefit Dream Flight, which treats seriously ill and disabled British children to the holiday of a lifetime at Orlando-area attractions.

“This is such a worthy cause that it draws players from all over,” Garrote explained, “We are pleased and honored to host the tournament this year,” he said.

Central Florida golfers interested in entering the tournament should contact The British American Chamber of Commerce (BACC) at 407-226-7251 or www.britishamericanchamberorlando.com.

For more information, contact

 Dorothy Benson, Sales and Marketing Manager, Celebration Golf Management 507-566.1045 ext 4613,  dbenson@cgmgolfproperties.com

 Scott Schmidtberger, Director of Golf, Eagle Creek Golf Club 407 273-4653; sschmidtberger@cgmgolflproperties.com

 Gene Garrote, President, Celebration Golf Management, 407-566-1045; ggarrote@cgmgolfproperties.com

 Larry Vershel, Larry Vershel Communications 407 644-4142 or

407 461-3780 Lvershelco@aol.com

NAI Realvest A Major Winner At Annual NAIOP Awards

 MAITLAND, FL --- NAI Realvest was a major winner at the recent annual awards program of the Central Florida chapter of NAIOP, including a clean sweep of awards for the area’s top land brokers.

NAI Realvest Associate Chris Butera (top right photo) took first place as the region’s top land broker.  Principals Matt Cichocki (middle left photo) and Kevin O’Connor (lower right photo) shared second place and Managing Director Paul Partyka earned a third place award in the same category.

Cichocki and O’Connor also shared a third place award as the region’s top retail brokers for 2011.

For more information, contact

Patrick Mahoney, President NAI Realvest, 407-875-9989 Pmahoney@realvest.com;

Beth Payan or Larry Vershel, Larry Vershel Communications,

407-644-4142    

Lvershelco@aol.com

Foreclosure Activity Up in Half of Nation’s Largest Metros in February, According to RealtyTrac®

IRVINE, CA. – March 15, 2012 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for February 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 206,900 U.S. properties in February.

That was a 2 percent decrease from the previous month and was down 8 percent from February 2011 — the lowest annual decrease since October 2010. The report also shows one in every 637 U.S. housing units with a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore (top right photo), CEO of RealtyTrac.

“Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued.

 “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

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

Media Contacts:

Christine Stricker

949.502.8300, ext. 268

christine.stricker@realtytrac.com

Michelle Schneider

949.502.8300, ext. 139

michelle.schneider@realtytrac.com

Order Custom Data:

Tyler White

949.502.8300, ext. 158

tyler.white@realtytrac.com

New Appointments at Marcus & Millichap

 Daniel A. ‘Sonny’ Molloy Named Senior Director of National Retail Group

ATLANTA, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Daniel A. “Sonny” Molloy (top right photo) senior director of the firm’s National Retail Group in Atlanta, according to Bill Rose, national director of the National Retail Group.

Mark J. Ruble is Senior Director of National Retail Group in Phoenix

PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Mark J. Ruble (lower left photo) senior director of the firm’s National Retail Group in Phoenix, according to Bill Rose, national director of the National Retail Group.

Ruble joined Marcus & Millichap in December 2004 as a sales intern. He became an agent in June 2006. During his career, Ruble has closed 162 transactions valued at more than $416 million.

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

Rhodes+Brito Architects start design work for 6,500 SF Ocoee Community Center in Florida Vernacular Style

 ORLANDO, FL--- Rhodes+Brito Architects, based in Orlando, has started design work for a new Ocoee Community Center that will be built across from City Hall in Downtown Ocoee.

Max Brito, co-founder and partner at Rhodes+Brito, said the 6,500 square foot facility will include a banquet hall, meeting rooms and warming kitchen.

Brito said the Florida Vernacular architectural style will complement Ocoee’s “Old Florida” historical look and feel.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 17, including seven registered architects. The firm served as lead architect for the Florida A&M University College of Law facility in downtown Orlando.

For more information,  contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Commercial Asset Partners Realty closes $555K medical office sale in Trinity, FL to multi-specialty practice

  

 TRINITY, FL (March 14, 2012) – In an indication of the demand for medical office space in the Trinity area of Pasco County, Commercial Asset Partners (CAP) Realty closed a 4,800-square-foot office sales transaction in Trinity Professional Center for a wellness and rehabilitation practice. The space, sold for $555,000, is located at 1814, 1820 and 1822 Wellness Lane (top left photo) in Trinity.

Carol Kinnard (middle right photo) of CAP Realty represented the seller, MLRS Properties, LLC. Heidi Tuttle-Beisner (lower left photo), CCIM, also of CAP Realty, represented the buyers, Dr. Edward J. Leonard and Dr. Stephen J. Unger.

 Aiming to provide a full range of evidence-based healthcare under one roof, Drs. Leonard and Unger’s practice, Florida Wellness and Rehab, offers chiropractic care, physical therapy and massage therapy, as well as family medicine, which is a new addition to the practice with the move to the location on Wellness Lane.

 “We’d outgrown our old space, which we were leasing,” said Dr. Unger. “Our new offices will accommodate our current needs and is large enough for us to grow into as we go forward. We were at the right place at the right time to get an excellent deal in a great professional park.”

 Florida Wellness and Rehab’s new location was already prepped for medical use, possibly saving the new owners expenses that may have been required to retrofit a general-office building for medical use.

 Kinnard, who holds the Associated Medical Office Expert (AMO) certification, specializes in the sales and leasing of medical office space and is well-versed on the unique requirements for certain specialty practices.

 “Move-in ready medical office space is in great demand near the Medical Center of Trinity,” she said, “and the sale of this unit to Florida Wellness and Rehab will undoubtedly heighten activity further.”

  For more information, see the company’s website at http://www.cap-realty.com/.

 Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

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Colliers International Completes the Sale of Kindred Hospital Rancho a 98,176 SF Hospital And Medical Office Building in Rancho Cucamonga, CA

  Rancho Cucamonga, CA,  March 14, 2012 – Colliers International, the third largest global real estate services organization, has completed the sale of a 98,176 square-foot hospital and medical office building located at 10841 White Oak Avenue, Rancho Cucamonga, Calif. for an undisclosed price.

John Wadsworth (middle right photo), Vice President and Director of Healthcare Properties, based in Colliers International’s Irvine office, Tom Lagos, Senior Vice President, and El Warner, Associate Vice President both based in Colliers International’s Downtown Los Angeles Office, represented the Seller, Pacific Health Realty, LLC. The Buyer represented itself.

Built in 1996, Kindred Hospital Rancho (top left photo) is comprised of a single-story Long-Term Acute care (“LTAC”) hospital building consisting of 55 beds with an attached 3-story medical office building. Both the hospital and medical office building are currently occupied and operated by Kindred Healthcare.

Kindred Healthcare is a major healthcare service provider operating hospitals, nursing rehabilitation centers and sub-acute care facilities throughout the United States.

“Kindred Rancho is a unique asset due to the property consisting of a Long Term Acute Care (“LTAC”) hospital and attached medical office building.” said Wadsworth.

“The unique physical nature of the property combined with a master lease to an industry leader like Kindred Healthcare appealed to a wide range of potential investors,” added Wadsworth.

Contact:

Jennifer Hsieh

Regional Marketing Manager

+1 949 724 5545

Jennifer.hsieh@colliers.com

Colliers International Completes Sale of REO Multi-Tenant Office Building for $4.8 Million in Westlake Village, CA

 WESTLAKE VILLAGE, CA, March 14, 2012. – Colliers International, the third largest global real estate services organization, has completed the sale of a 45,103-square-feet, multi-tenant office building located at 31225 La Baya Drive, Westlake Village, Calif.  The transaction is valued at $4.8 million.

William Gloege, Associate Vice President, based in Colliers International’s Downtown Los Angeles office, Jeff Albee (middle right photo), Senior Vice President, Jeff Gould (middle left photo), Senior Associate and Chris Itule (lower right photo), Senior Associate, all based in the Encino office represented the Seller and Buyer. 

The Seller was a national Special Servicer.  The Buyer was Toth Properties, a private capital syndication investor. 

“We successfully developed and executed a top tier marketing strategy that not only maximized the value of the asset, but also ensured a fluid closing within a specific and tight time frame,” said Gloege.

“At the time of foreclosure, leasing and tenant relations at the property had been abandoned by the previous owner, requiring a quick and effective solution. We quickly worked with a Special Servicer to mitigate these issues, stabilize the property and preserve value,” added Gloege. 

The multi-tenant office building is located in the heart of Westlake Village, one of the most affluent communities in California and is an ideal value-add opportunity. 

At the time of the sale, the property was 60% occupied with rent upside, which commanded a low initial capitalization rate for the Seller. This represents one of the first REO sales transactions for a commercial property in the Westlake Village market. 

Contact:

Jennifer Hsieh

Regional Marketing Manager

+1 949 724 5545

Jennifer.hsieh@colliers.com

The Marketing Directors Dominates 2011 Atlanta Board of Realtors New Homes Sales Awards

  

ATLANTA, GA (March 14, 2012) –The Marketing Directors’ top sales associates were recognized for outstanding performance by The Atlanta Board of REALTORS’® Multi-Million Dollar Sales Club (MMDSC) at a banquet held on Friday, March 9, at the Ritz-Carlton, Buckhead.

Gina Barnabo, J. Dunn, Jill Grenuk and Judy Hollowell were named among the top 10 sales agents in the New Homes category in 2011.

“These agents have been an integral part of our sales success in Atlanta,” says David Tufts, president of The Marketing Directors. “We are proud of their accomplishments and thrilled to dominate in the area of new homes sales for the Multi-Million Dollar Sales Club.”

Jill Grenuk (top right photo) is the #1 ranking new homes associate for all of Atlanta. With her son in attendance, she received the top award in the New Homes sales category with over $16 million in sales at The Brookwood last year.

J. Dunn (#4) (middle left photo), also at The Brookwood, sold over $10 million in new homes in 2011. Judy Hollowell (#3), with over $11 million in sales, was part of the TMD sales team that sold out Luxe in Midtown.

Gina Barnabo (#6) (lower right photo) had over $9 million in sales at Serrano. The Marketing Directors represent 49% of the new condominium market share in Atlanta.

For more information, visit www.themarketingdirectorsinc.com or follow us on Facebook.

Contact:

Liz Lapidus Public Relations:

Liz Lapidus or Kate Thacker

kate@lizlapiduspr.com

404-688-1466

Paying Attention in Lease Negotiations Saves Pain, Money, Commercial Real Estate Show Guests Say

 ATLANTA, GA– When it’s time to negotiate a lease, exploring all of your options and an attention to detail are critical. Otherwise, you could find yourself saying, “Oops – I should have covered that in the lease” and crippling your bottom line.

 Guests of the most recent episode of the “Commercial Real Estate Show” shared those observations and many others in a detailed discussion of the current issues surrounding commercial real estate leases.

Before entering lease negotiations, tenants should make sure they have solid representation in the form of brokers and experienced real estate attorneys, guests said.

 “The reality for corporate America is, real estate costs are typically one of the three biggest items on [companies’] balance sheets,” said David Tennery (top right photo), a principal of Regent Partners’ Office Properties and Development Group. “My sense is you’re not going to negotiate any of those other two [items] without proper representation.”

Negotiating parties shouldn’t agree to overly general letters of intent (LOIs), guests noted. “We think it’s really important to include a lot of different points in your negotiations right up front to protect your interests and avoid costs,” said Phil Baugh (middle left photo), managing director of Baum Realty Group.

Baugh also urged prospective tenants to be on the lookout for problems with common area maintenance costs (CAMs) during negotiations. “CAM unchecked can be a black hole that just sucks profit out of your business,” he said.

For starters, tenants should make sure that CAM is based on leasable space in a building and not leased space. Otherwise, “if a tenant moves out, you’re going to be increasing your CAM costs and paying for that unoccupied space,” Baugh said.

  “I think a lot of the business points that sometimes get left out of an LOI should be covered upfront because they’re such major points in a lease,” added show host Michael Bull (middle right photo), founder and president of Bull Realty.

 Jonathan Neville (lower left photo), a partner with the Arnall Golden Gregory law firm, said a prospective tenant should pay close attention to how broad a landlord wants to make the definition of rent; leases are sometimes structured so that increases in annual rent also trigger increases in expenses such as parking and extra-hour utility costs.

  

 “If you’re representing a tenant, the key is to negotiate those things out of [the definition of rent] that you want out,” Neville said.

Other topics included co-tenancy provisions; subordination, non-disturbance and attornment agreements (SNDAs); and the basics of properly executed leases and lease amendments.

The next “Commercial Real Estate Show” will be available March 15 and will examine the top commercial real estate associations in the nation.

 Contact

Stephen Ursery

Wilbert News Strategies

404-965-5026

sursery@wnspr.com

www.CREshow.com

Lincoln Property Company Southeast Inks Nearly 20,000 SF of Leases at Orlando Office Complex

ORLANDO, FL (March 14, 2012) – Lincoln Property Company has brokered nearly 20,000 square feet of leases at Corporate Park, an 87,000-square-foot office complex in Orlando.

Scott Gregory (middle right photo) and Jay Dixon (lower left photo) of Lincoln Property Company represented the landlord in the transactions.

The new tenants welcomed to the office park were Perry Becker (1,849 square feet), a landscape design firm represented by Craig Castor at Cresa Partners, and Harvard Jolly Architects (1,583 square feet). 

The Lincoln team also negotiated three lease renewals with Kimley Horn and Associates (10,000 square feet), United Mortgage Partners (2,395 square feet) and Nursefinders (757 square feet).

The leases come shortly after Lincoln completed an extensive renovation of the office park.

The improvements included  a new automated HVAC system; a web-based work order system; lobby upgrades consisting of new finishes, artwork, furniture, plantscapes, and a touchscreen tenant directory; and improved monument signage that enhances the visibility of the tenant’s names along Maguire Boulevard.

“We are extremely excited about the amount of activity we have been able to generate at Corporate Park,” said Gregory, vice president for Lincoln Property Company Southeast. “The renovations look great and the new monument signage will be an added benefit for new and existing tenants.”

Contact

Stephen Ursery

Wilbert News Strategies

404-965-5026

sursery@wnspr.com

Chatham Lodging Announces First Quarter Dividend

 

 PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, announced that its board of trustees has declared a common share dividend of $0.175 for the 2012 first quarter. 

Based on the company’s common share closing price of $12.90 at the close of business on March 12, the annualized dividend represents a yield of approximately 5.4 percent.

The common dividend is payable April 27, 2012, to shareholders of record on March 30, 2012. The company will continue to evaluate and adjust its dividend on a quarterly basis

Contact:

     

Jerry Daly, Carol McCune                                                     

Daly Gray Public Relations                                                   

(Media)                                                                                       

(703) 435-6293                                                                           

jerry@dalygray.com                                                             

 Dennis Craven

Chief Financial Officer

(Company)

(561) 227-1386  

dcraven@cl-trust.com