NAI Realvest Negotiates Renewal Lease for long-time Tenant on Horatio Avenue in Maitland, FL

MAITLAND, Fla. --- NAI Realvest recently negotiated a long term renewal lease agreement for 1,067 square feet of office space at Suite 1, 541 E. Horatio Ave.  in Maitland.

 Senior Broker Associate Mary Frances West (top right photo) CCIM negotiated the transaction representing the landlord Dallas-based Horatio Florida Partners LLC. 

 The tenant Edward D. Jones and Company L.P. d/b/a Edward Jones has been located at this address for over 20 years and has renewed for an additional five years.

For more information, contact:

Mary Frances West CCIM, NAI Realvest, 407-875-9989 mwest@realvest.com;  or

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 

Lincoln Property Company Southeast Hires Chip Sipple As Senior Analyst

  

ATLANTA, GA (March 20, 2012) – Lincoln Property Company Southeast has hired Chip Sipple (top right photo) as a senior analyst.

Sipple, who was previously a senior investment analyst for Prudential Asset Resources, will analyze office, industrial and retail assets for acquisition opportunities and disposition assignments. His research also will also aid Lincoln in support of its various lines of business.

At Prudential, Sipple worked with the Special Servicing division on problem loan resolutions and REO disposition strategies. Prior to his stint with Prudential, he worked for Trimont Real Estate Advisors and Bullock and Mannely Partners.

“Chip was a stellar performer at Prudential, and we couldn’t be more excited to put his analytical skills and market knowledge to work for Lincoln and our clients,” said Tony Bartlett (middle left photo), senior vice president of Lincoln Property Company. “His keen insight and experience will help us deliver outstanding service to our clients and partners.”

Sipple received a Bachelor of Business Administration with concentrations in Finance and Real Estate from the University of Georgia’s Terry Business of College. He is a member of the Terry Real Estate Alumni Network’s Steering Committee and a member of the Terry School of Business Alumni Association.

 For more information on the Southeast Region of Lincoln Property Company, please . visit www.lpcsoutheast.com

To check out the blog, go to http://blog.lpcsoutheast.com.

Contact

Stephen Ursery

Wilbert News Strategies

404.965.5026

sursery@wnspr.com

Associations Lend Commercial Real Estate Industry a Helping Hand

 ATLANTA, GA – Navigating the world of commercial real estate is no easy task. Fortunately, it’s a task you don’t have to undertake on your own. Numerous associations help industry members network, grow their businesses and stay up to date on emerging issues.

 The most recent episode of the “Commercial Real Estate Show” examined four of the leading commercial real estate associations: the International Council of Shopping Centers (ICSC), the Building Owners and Managers Association (BOMA) International, the Certified Commercial Investment Member (CCIM) Institute and the CREW Network. Topics included the associations’ recent initiatives, upcoming events and their members’ concerns.

 Randi Glass (top right photo), director of membership and volunteer development for ICSC, said the council has received a lot of positive feedback from its special industry groups. ICSC launched the groups, which allow members with similar specialties to share best practices, about a year ago.

 ICSC also has fully embraced social media, Glass added. “We encourage our members to tweet their deals and space requirements, and our social media manager retweets those to all our followers,” she said, adding that ICSC has 12,000 followers on Twitter. ICSC will have a booth at its upcoming RECon show in Las Vegas in May that will provide brief tutorials on social media.   

As 2012 unfolds, BOMA International will spend much of its time advocating against what its chair-elect described as excessive regulation from federal, state and local governments seeking to create “green” communities.

“While we agree with the concept, the overregulation, the mandates from governmental agencies are the things we’re trying to mitigate a little bit,” said Joseph W. Markling (middle left photo), chair-elect of the organization.

 Gail S. Ayers (middle right photo), CEO and president of the CREW Network, said her organization’s annual conference, to be held in Chicago in October, will focus on making choices in a tough economy. “When you’re looking at an uncertain economy, you have to focus constantly on what you do, how you do it and whom you do it with,” she said.

 CREW is dedicated to advancing the achievements of women in commercial real estate. 

 Vast networking, abundant educational opportunities and even increased income are among the benefits of belonging to the CCIM Institute, said Leil Koch (lower left photo), president of the organization, which awards the CCIM designation to members who takes a series of classes and pass a comprehensive exam. “CCIMs earn, on average, 79 percent higher incomes than non-affiliated professionals,” he said.

 The Institute has emphasized more case studies in its course work and also has launched monthly property marketing webinars to allow members to showcase their sites to a national audience.

The next “Commercial Real Estate Show” will be available March 22 and will examine best practices for the social media network LinkedIn.

Contact

Stephen Ursery

Wilbert News Strategies

404.965.5026

sursery@wnspr.com

Sears Holdings Names David Lukes to Real Estate Leadership Position

HOFFMAN ESTATES, IL. March 20, 2012 /PRNewswire/ -- Sears Holdings (NASDAQ: SHLD) announced today that David Lukes (top right photo) has joined the company in its real estate business unit as president, real estate development.

 Mr. Lukes comes to Sears Holdings from Mall Properties, Inc. where he served as president and CEO of the privately owned $3 billion real estate firm. 

In this new role, Mr. Lukes will lead the company's effort to  further develop certain of its real estate assets, including those real estate assets that are no longer in use as retail stores.  Jeff Stollenwerck, president of the company's real estate business unit, will continue in that role and oversee the traditional corporate real estate functions for Sears Holdings.

"We have a very strong real estate team at Sears Holdings and that team will only be stronger with the addition of an executive of David's caliber," said Lou D'Ambrosio (lower right photo) Sears Holdings' chief executive officer and president.

 "Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs.  David's hiring allows us to expand our capabilities to include the enhancement and re-development of appropriate properties."

Contact:

Sears Holdings Public Relations

(847) 286-8371

http://www.searsholdings.com/

HFF arranges $26.7 million in joint venture equity for residential and golf development in Nashville, TN

                                       

DALLAS, TX – HFF announced today that it has arranged $26.7 million in joint venture equity for the development of The Grove (top left photo), formerly named Laurel Cove, an 1,184-acre residential development and golf community in College Grove, Tennessee.

HFF worked on behalf of Terra Verde Group to secure the joint venture equity through an institutional private equity partner.

The development can accommodate up to 800 homes and will include a clubhouse with full-service spa, casual and gourmet dining, swim and athletic center, tennis complex and an 18-hole Greg Norman signature golf course. 

 The golf course is expected to open in September 2012.  The Grove is located south of Nashville at the intersection of Interstate 849 and Arno Road in College Grove.

The HFF team representing Terra Verde Group was led by senior managing director Trey Morsbach (lower right photo).

 Learn more at http://www.tvgllc.com/.

Contacts:                     

 TREY MORSBACH                                         

HFF Senior Managing Director                         

(214) 265-0880                                                

tmorsbach@hfflp.com                                      

 KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF secures $11 million acquisition financing for R&D facility in Edison, NJ

 NEW YORK, NY – HFF announced today that it has secured $11 million in acquisition financing for 2121 State Route 27 (top left photo), a 99,260-square-foot, research and development facility in Edison, New Jersey.

HFF arranged the financing on behalf of AG Net Lease Fund II, an affiliate of Angelo, Gordon & Company.  Morgan Stanley Mortgage Capital Holdings LLC provided the 10-year, fixed-rate securitized loan, which will also be serviced by HFF.

 

2121 State Route 27 is 100 percent occupied by Revlon Consumer Products Corporation, which utilizes the facility as its worldwide research and development center for all of its brands.  Revlon has had a presence at the site since the 1950’s. 

The property is part of the larger Edison Towne Corporate Centre, a 247,245-square-foot complex located within close proximity to Interstate 287, the New Jersey Turnpike and Garden State Parkway.

The HFF team representing the borrower was led by managing director Evan Pariser (middle right photo) and director Michael Klein (lower left photo).

Angelo, Gordon & Company is a privately-held registered investment advisor dedicated to alternative investing.  The firm was founded in 1988 and currently manages approximately $24 billion.  The firm is currently investing its second dedicated Net Lease fund, the $560 million AG Net Lease Fund II.

Contacts:                     

EVAN PARISER                       

HFF Managing Director                      

(212) 245-2425                                   

epariser@hfflp.com                           

MICHAEL KLEIN                      

HFF Director                                    

(973) 549-2000                                   

mklein@hfflp.com                             

 KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF closes $63 million sale of Class A multi-housing complex in central New Jersey

 FLORHAM PARK, NJ – HFF announced today that it has closed the sale of Windsor at Crystal Ridge (top left photo), a 334-unit, Class A multi-housing complex in Watchung and North Plainfield, New Jersey.

HFF represented the seller, GID Investment Advisors, LLC and procured the buyer, AvalonBay Communities, Inc.  AvalonBay purchased the property for $63 million free and clear of existing debt.

Windsor at Crystal Ridge is located on nearly 25 acres at 1 Crystal Ridge Drive directly off Route 22 in Watchung and North Plainfield. 

The property has 15 three-story buildings with one-, two- and three-bedroom units averaging 1,016 square feet each. 

Community amenities include a clubhouse, fitness center, indoor basketball court, residents lounge, media center, business center, swimming and wading pools, two playgrounds and outdoor basketball and tennis courts.  Windsor at Crystal Ridge is 98 percent leased.

The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz (middle right photo) and Andrew Scandalios (middle left photo), managing director Kevin O’Hearn (lower right photo), director Jeffrey Julien (lower left photo) and associate director Steve Simonelli (bottom right photo)

“This was a rare opportunity to purchase a newer Class A multi-housing complex in affluent Somerset County, which has a scarcity of Class A product and no construction pipeline for any competing properties to be built in the near future,” said Cruz.

 “GID took advantage of a fluid multifamily market in central New Jersey, and Avalon obtained a good complex with rental upside,” added Scandalios.

GID is a privately held, globally diversified, and fully integrated real estate organization founded in 1960 that employs over 650 real estate professionals in multiple offices throughout the United States.

During its 51 year history the company has acquired or developed over 54,000 residential units and in excess of 13 million square feet of commercial space.

 As of December 31, 2011, GID controls a real estate portfolio consisting of 107 properties located in 19 states, and totaling more than 35 million square feet comprised of over 22,000 residential units and more than 5.7 million square feet of commercial space.  In addition, GID has more than 12 million square feet of fully entitled properties in its development pipeline.

AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States.

These markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest and Northern and Southern California regions of the country. 

  

Contacts:                     

JOSE R. CRUZ                                  

HFF Senior Managing Director         

(973) 549-2000                                   

jcruz@hfflp.com                                

ANDREW G. SCANDALIOS          

HFF Senior Managing Director         

(212) 245-2425                                   

ascandalios@hfflp.com                    

 KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Commercial Asset Partners Realty helps U.S. Geological Survey center relocate to Pasco County, FL

TRINITY, FL (March 19, 2012) – Taking steps to increase efficiency and better serve resource managers and environmental stakeholders around west-central Florida, the Tampa office of U.S. Geological Survey (USGS) Florida Water Science Center will relocate to an office/industrial park in Lutz, Fla.

Commercial Asset Partners (CAP) Realty facilitated the 21,000-square-foot lease at 4446 Pet Lane in Pasco County’s ComPark75 (top left photo)

Heidi Tuttle-Beisner (middle right photo), CCIM, Broker-Owner of CAP Realty, represented the landlord, HR Pasco, LLC, and acted as a transactional broker in the deal, which brings 60 jobs to Pasco County.

Build-out for the flex property, which was in shell condition, is underway, with 70 percent being converted to office and 30 percent dedicated to warehouse space. The USGS expects to move in to the new facility in August.

“Converting a flex building to 70 percent office is rather unusual,” said Tuttle-Beisner, “but in this case, the property allowed the flexibility required to fit USGS’s needs. We are very pleased to help bring this quality group to Pasco County.”

 The USGS is the nation's largest earth science agency that provides a scientific understanding about natural resource conditions, issues and problems. The Florida Water Science Center’s mission is to collect, analyze and disseminate impartial data and information needed to wisely manage water resources for the nation and Florida.

To ensure a safe and sustainable water supply that meets the state’s needs, the Florida Water Science Center provides reliable and accurate information related to water shortages caused by short-term drought, needs caused by population growth and development, restriction of water supply due to contamination, and other issues related to the water supply.

 “The nature of what USGS was looking for in a property was unique,” said Ross Kirk (lower right photo), principal of CLW Industrial Group, who acted as a development consultant for the project. “The space at ComPark75 had the ability to provide for all of USGS’s needs.”

The 6,000-square-foot warehouse in ComPark75 will be used to store and test hydrologic surveillance equipment, which help forecast future floods, track rising water due to rain or storm surge, and monitor water quality and availability, prior to deployment to the field.

The facility will also have a laboratory that will be used primarily for sample preparation and some chemical analysis.

 “USGS's Florida Water Science Center relocating to ComPark75 is a great opportunity to showcase how well the development community and Pasco County can work to make things happen,” said John Walsh (lower left photo), Vice President of Pasco Economic Development Council, Inc.

 “This project had a quick turnaround time, and the Pasco County Development team worked with Commercial Asset Partners Realty and ComPark75 to expedite permitting and meet the timeframe needed by USGS.”

 The Florida Water Science Center will relocate from its current location near the University of South Florida in Tampa.

Contact:

Noelle Anderson, APR

Principal & President

True Blue Communications

813.380.0314

Noelle@truebluetampa.com

http://www.cap-realty.com/.

Brown Harris Stevens Commercial Real Estate Announces $4.8 Million Sale of Office Building in Queens Village, NY

  

New York, NY,  March 19, 2012 -- Brown Harris Stevens Commercial Real Estate Division announces the sale of the Queens Corporate Center, a 47,062-square-foot, four-story building located at 221-10 Jamaica Avenue in Queens Village.

 GWB Realty Associates of New Jersey, LLC acquired the building for $4,800,000 through David Sargoy (middle right photo), Director of the Commercial Real Estate Division, and Zubin Hassid, Director of Investments and Leasing.

 Queens Corporate Center, now available for lease to office and medical tenants who require between 300 and 10,000 square feet, offers a very large private parking lot and is convenient to buses, Long Island Railroad, extensive commercial areas and highways.

 According to David Sargoy, the building is being renovated with new common areas, bathrooms and a redone exterior.

 For additional information visit http://bhscommercialli.com/

Contact exclusive leasing and marketing agents, David Sargoy at 516.203.8134 or dsargoy@bhsusa.com and Zubin Hassid at 516.203.8188 or zhassid@bhsusa.com

  

Contact:

Jennifer Little

Vice President (Group Head)

RUBENSTEIN PUBLIC RELATIONS

1345 Avenue of the Americas,

 New York, NY 10105

T: 212.843.8364

 F: 212.843.9200

 jlittle@rubensteinpr.com

www.rubensteinpr.com  

facebook.com/RubensteinPublicRelations

Ryan Stone Ware Appointed Executive Chef of 7 On Fulton at the Wyndham Riverfront Hotel in New Orleans

  

 NEW ORLEANS, LA – March 19   2012 – The New Orleans Hotel Collection announced today the appointment of Chef Ryan Stone Ware (top right photo) as Executive Chef for 7 on Fulton (middle left photo).

The restaurant, 7 on Fulton, is located in the Arts District of New Orleans within the 202-room Wyndham Riverfront New Orleans Hotel (middle right photo).  Ware will be responsible for menu creativity and leading the culinary team at 7 on Fulton.

 “We are delighted to welcome Chef Ryan to the hotel,” said Hotel Manager Ivy Lim (lower left photo)

 “With many years of culinary arts training, fine dining and independent catering experience, Chef Ryan is a creative, innovative and diligent individual. He will be a great asset to 7 on Fulton restaurant and private dining at Wyndham Riverfront Hotel.

 Most recently, Chef Ryan Ware was operating his own catering business and bistro in Slidell, Louisiana.

In 2004, Ware was Executive Sous-Chef at GW Fins, providing his management and culinary skills in directing the food preparation operations for this dynamic French Quarter eatery.

Prior to GW Fins, Chef Ryan ran the kitchen for the Salmen-Fritchie house in Slidell, where he created many new dishes for this esteemed, well established community restaurant.   Chef Ryan also worked at Mr. B’s Bistro, Hyde Park Grill, and the Cripple Creek Restaurant in Rhinebeck N.Y. working with Chef David Bruno

Chef Ryan began his artistic path at neighborhood Louisiana restaurants in his teens. He went on to attend the Culinary Institute of America in New York where he received formal culinary training and obtained a degree in culinary arts.

He then began a career with a major national restaurant chain, learning menu creation, portion control and personnel management while rising to the position of corporate trainer.

 Contact

Ivy Lim

ILIM@WYNDHAM.COM

Wyndham Riverfront Hotel

504-524-8200

www.neworleanshotelcollection.com

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Piedmont Henry Hospital and Ackerman Medical Collaborate on New Medical Office Building in Stockbridge, GA

 Atlanta, GA, March 19, 2012 – Piedmont Henry Hospital and Ackerman Medical jointly announce the development of a new 60,000-square-foot medical office building (top left rendering) in Stockbridge, Henry County, Ga.

The three-story, Class “A” building, to be named Henry Physician Center, will serve as the new gateway to Piedmont Henry Hospital.  The new building will be located at the entrance of the hospital’s campus at the corner of Eagle’s Landing Parkway and Rock Quarry Road.

 

Groundbreaking for the $11-million project is slated to begin this summer and is scheduled to open in early 2013.

“The development of Henry Physician Center, which resulted from the recent merger of Piedmont Healthcare and Henry Medical Center, demonstrates Piedmont Healthcare’s deep commitment to meeting the expanding medical needs of Henry County residents,” said Charles Scott (middle left photo), CEO of Piedmont Henry Hospital. 

According to John A. Willig (middle right photo), principle of Ackerman Medical, “Henry Physician Center responds to the demand from growing physician practices seeking to locate on the new Piedmont Henry Hospital campus.”

The new medical building is already more than 50 percent committed to premier physician practices, including Southern Orthopaedic Specialists. Henry Physician Center is now leasing.

Mike Tallant (lower right photo) from Commercial Assets Group represents the property along with Ackerman Medical’s John Willig.

Henry Physician Center increases the developer’s track record in Henry County to more than 250,000 square feet. Recently developed medical office buildings in this market include SouthCrest Medical Plaza I, SouthCrest Medical Plaza II and Northpark I. 

For more information, contact:

Fara Wilson,

VP of Marketing

770. 913.3904 

 fwilson@ackermanco.net

www.ackermanco.net

www.piedmont.org.

NAIOP Names Emerson International’s University Research Park I Central Florida’s Educational Development of the Year

ORLANDO, FL--- The Central Florida Chapter of NAIOP, the leading national association of commercial development professionals, recently named Emerson International’s University Research Park I in east Orlando Central Florida’s Educational Development of the Year.

Eric Emerson (top right photo), vice president and general manager of Emerson International, accepted the award recently with Kenneth Koch (lower left photo), Emerson International’s commercial portfolio director

“My goal at Emerson International is to elevate the firm to the level of the premier leading commercial development groups in the region.  At this point, I believe we are well on our way,” Emerson said.

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies.

For more information, contact

 Eric J. Emerson, Vice President and General Manager Emerson International, 407-834-9560; ejemerson@emerson-us.com;

 Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com.

Newmark Knight Frank's Southeast Capital Group Named Exclusive Sales, Marketing Broker for Southpark Village Retail Center in Raleigh, NC Suburb

ATLANTA, GA--- The Southeast Capital Group at Newmark Knight Frank in Atlanta has been named exclusive sales and marketing agents for Southpark Village, located at 324 Village Walk Drive in the Raleigh suburb of Holly Springs, North Carolina.

The 82,662 square foot neighborhood retail center, built in 2008, is anchored by a Harris Teeter supermarket, the leading credit grocer in North Carolina and the 25th largest supermarket in the U.S. with sales of $4.1 billion in 2010. Currently, the center is 98 percent occupied.

Supermarket News magazine recently ranked Harris Teeter No. 34 in the 2010 “Top 75 North American Food Retailers” based on 2009 fiscal year sales of $2.92 billion.

Whitney Knoll (middle right photo), who heads the Southeast Capital Group at Newmark Knight Frank, said he along with Group members Fred Victor and Mark Hillis are undertaking the assignment.

Knoll said 3.5 acres of undeveloped land which fronts US-55 Bypass is available for sale along with the retail center. The undeveloped land is ideally situated for more retail development or for a medical office development to complement the future 50-bed Rex Hospital development directly across US-55 Bypass from SouthPark Village.

As a separate offering, 18.36 acres are available as prime multi-family development land located adjacent to SouthPark Village. The multi-family development will benefit from the new Hospital, job growth, population growth, and excellent public schools.

For more information about this press release,  contact:

C. Whitney Knoll, Principal/Managing Director of Southeast Capital Markets Group, Newmark Knight Frank, 201 17th Street, Suite 900, Atlanta, GA 30363; wknoll@newmarkkf.com; 404-926-1139

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

Jake S. Roberts Named Top Financing Professional by Marcus & Millichap Capital Corp.

NEWPORT BEACH, CA – Marcus & Millichap Capital Corporation (MMCC) has named its top financing professional of 2011, according to William E. Hughes (middle left photo), senior vice president and managing director of MMCC. Jake S. Roberts (top right photo), a vice president capital markets in the firm’s West Los Angeles office, has earned the distinction.

 “It gives me great pleasure to recognize Jake as the firm’s top financing professional of 2011,” says Hughes. “Jake has raised the bar and earned an outstanding reputation as one of the industry leaders in commercial real estate financing.”

 Roberts works on the origination and placement of senior debt, mezzanine financing, preferred equity financing and joint-venture equity financing for clients nationwide. His clients cover a broad spectrum of investors, including high net-worth individuals, boutique real estate firms and institutional real estate investors.

Roberts joined MMCC in April 2004 as a regional loan officer in the firm’s West Los Angeles office. He was promoted to senior director of MMCC in July 2007 and to vice president capital markets in 2010. While with MMCC, Roberts has earned five National Achievement Awards and eight sales recognition awards. Last year, he closed a total of 20 loans valued at more than $242 million.

 Prior to joining MMCC, Roberts was with Holliday Fenoglio Fowler LP (HFF), where he was involved in more than $500 million in real estate transactions. He was primarily responsible for the underwriting, marketing and the placement of debt and equity transactions throughout the country.

Roberts graduated from Texas A&M University with a bachelor’s degree in business administration with a focus on finance.          

 Press Contact:  Stacey Corso, Marcus & Millichap Capital Corporation

(925) 953-1716