Faris Lee Investments Completes Sale of Three Retail Properties in Murrieta, CA,Totaling $8.4 Million in Pre-Sale / Break-Up Strategy

 IRVINE, CA, May 15, 2012 – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the sales of three newly constructed single-tenant NNN leased properties within a neighborhood shopping center in Murrieta, Calif. which include Del Taco, Davita Dialysis, and Mountain View Tire and Service/Goodyear.

The sales are valued at a total of $8.4 million. 

 

 Donald MacLellan (middle right photo), senior managing director, and Christopher Tramontano (middle left photo) director, with Faris Lee Investments represented the seller  and developer of the properties, Newport Beach, Calif.-based Sierra Lane Partners LLC.

The transactions were part of a complicated sales strategy. First, instead of being marketed as one investment opportunity, Faris Lee advised the seller on a break-up strategy. This tactic maximized value of the properties by selling them off individually to increase the buyer pool to include smaller investors.

Second, Faris Lee began marketing the properties before they had completed construction as part of a pre-sale strategy.

“The developer of these properties wanted to garner the highest sales price on the assets, while at the same time capitalize on its investment as quickly as possible once the properties were completed,” said MacLellan.

“Faris Lee was engaged in advising the seller early in the construction phase and created a strategy to break up the land parcels so they could be sold individually, and then began marketing the properties during construction in order to close escrow as soon as possible once they completed.”

For more information, please visit www.farislee.com.

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

 Darcie Giacchetto,

 949.278.6224

Spaulding Thompson & Associates

For Faris Lee Investments

Audubon Cottages of the New Orleans Hotel Collection Reopens after Completing Multi-million Dollar Renovation

NEW ORLEANS, LA – May15, 2012 - The New Orleans Hotel Collection has announced the reopening and complete renewal of the famous and exclusive Audubon Cottages (top left photo), with the addition of luxury French Quarter Butler service at the property.

Guests of the seven Audubon Cottages receive a high level of unparalleled personalized service, with a dedicated, on-site “French Quarter Butler” to anticipate and cater to guests’ needs from the moment of arrival to the time of departure.

Daily assistance is provided to ensure the guest experience is enjoyable and unforgettable. Whether it’s unpacking suitcases or making dinner reservations at one of New Orleans’ best restaurants, French Quarter butlers are there to assist with creating a one-of-a-kind experience during a stay at our French Quarter Cottages.

“The Audubon Cottages have been an exclusive and unusual lodging option New Orleans for many years, and now they are better than before.

"We want to provide extraordinary experiences for our guests and are confident that our guests will recognize the added value in staying at these unique Audubon Cottages,” said Mr. Joe Jaeger (top right photo), Owner.

The Audubon Cottages are located on the Rue Dauphine in the heart of the French Quarter in New Orleans.

  For more information or hotel reservations, visit www.auduboncottages.com or call (504) 586 1516.

Contact:  

                                                                                               

Marc Becker

Area Director of Marketing

Marc.Becker@neworleanshotelcollection.com

(504) 527-0407

 Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

CarePoint Partners Moves to Miramar Park of Commerce

MIRAMAR, FL – CarePoint Partners, one of the largest and fastest-growing independent home infusion services and specialty pharmacy companies in the United States, has moved to the Miramar Park of Commerce (middle left photo).

 CarePoint Partners, which provides cost-effective care that is driven by quality, consumer service, and values that promote positive outcomes and an enhanced quality of life for those it serves, has leased 6,515 sq. ft. at 3133 Commerce Parkway in the Park. 

 “We felt like Miramar was more centrally located to better serve our customer area,” said Laura Smith of CarePoint Partners. “We picked the Miramar Park for its curbside appeal, as well as customer accessibility.”

 In 2011, a healthcare and biotech hub was created within the Park when more than 60 percent of companies that moved there were part of that industry cluster.

“At the Miramar Park of Commerce, we can accommodate the needs of these types of companies in terms of space requirements, security and easy access to major roadways,” said Andrew Ansin (top right photo), vice president of Sunbeam Properties, developer of the Miramar Park of Commerce. “We plan to grow this industry sector in the Park this year as well.”

 Representing the Park in the transaction was Maridee Bell and Ryan Goggins of Sunbeam Properties.  Representing CarePoint Partners was Gus Greer of Prudential Florida Realty.

 Contacts:

Maridee Bell, Ryan Goggins or Andrew Ansin

10212 USA Today Way,

Miramar, FL 33025

954-450-7900.

Laura Smith,

CarePoint Partners,

3133 Commerce Parkway,

 Miramar, FL 33025,

(305) 887-9335,

www.CarePointPartners.com.

Lindsey Marmorstein

Pierson Grant Public Relations

6301 NW 5th Way, Suite 2600

Fort Lauderdale, FL 33309

P:  954-776-1999, ext. 255

F: (954) 776-0290

E-mail: lmarmorstein@piersongrant.com

$14 Million Lakes of Northdale Apartments Sold by IPA in Tampa, FL

TAMPA, FL, May 15, 2012 –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 Lakes of Northdale (top left photo), a 216-unit multifamily property located just north of downtown Tampa in the neighborhood of Carrollwood.

Jamie B. May (middle right photo), a senior director of IPA based in Florida, represented the seller, Sentinel Real Estate Corp. The buyer is Robbins Property Associates LLC.

  “Lakes of Northdale provides the new owner with a ‘B’ value-add stable asset in an excellent ‘AAA’ neighborhood,” says May.

“Carrollwood is a heavily commercialized area with limited sites for new development. Its proximity to employment centers and recreational opportunities caters to the needs of young professionals,” adds May. “The new owner plans to now add value through significant investments in interior and exterior renovations as well as additional carports, which will in effect add $200-plus to the current effective rent per unit.”

The property was built in 1985 on 18.5 acres just off Dale Mabry Highway at 16297 Northdale Oaks Drive.

Lakes of Northdale is a lushly landscaped apartment property that consists of 28 two- and three-story residential buildings surrounded by mature oak trees and a large lake. The unit mix is 116 one-bedroom units and 100 two-bedroom/two-bath apartments. The average unit size is 925 square feet.

Community amenities include a luxurious clubhouse with Wi-Fi, a resort-style swimming pool with spa, a resident business center, redwood saunas, a laundry facility and 70 carports.

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

              

http://www.institutionalpropertyadvisors.com/

Marcus & Millichap Sells 163,786-SF Development Site in Boynton Beach, FL

  

BOYNTON BEACH, FL, May 14, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Seaview Park Club (top left aerial photo), a 163,786 Square-Foot Development Site located in Boynton Beach, FL, according to Gregory Matus, Regional Manager / Vice President of the firm’s Ft. Lauderdale office.

The asset commanded a sales price of $2,240,000.

The buyer, a private investor, was secured and represented by Tal I. Frydman (middle right photo), Vice President Investments at Marcus & Millichap’s Fort Lauderdale office. 

“This transaction was perfect for the new buyers as they own the property directly next door and will be developing Seaview Park Club as an extension of their existing property.

The bank awarded the buyer this deal as they were able to propose and deliver a rapid closing, which occurred just 9 days after the contact was signed,” says Frydman.

Seaview Park Club is a vacant 3.76-acre development site situated directly on the Intracoastal Waterway in the City of Boynton Beach, Florida. The property has been approved for 64-units and eight boat slips. Seaview Park Club is located at 1620 North Federal Highway. 

Press Contact:

Tal Frydman

Vice President Investments,

 Ft. Lauderdale, FL

(954) 245-3400

Colliers International Retail Report Highlights Upbeat First Quarter and Consumer Confidence

SEATTLE,  WA, May 14, 2012 /PRNewswire/ -- The U.S. retail real estate industry, boosted by higher consumer spending, experienced a better-than-expected first quarter in 2012, according to a new nine-page report just published by Colliers International's Retail Services Group.

Colliers International released its Spring 2012 United States Retail Highlights report, which looks closely at industry trends and a series of retail market performance indicators such as vacancies, net absorption, construction, and rental rates.

Additional data and insights are available in a complete PDF version of the nine-page report at http://www.colliers.com/content/Colliers_US_Retail_Report_Q12012.pdf.

For more information about Colliers International, visit us at Booth #S243 R Street at the upcoming ICSC Annual RECon Convention in Las Vegas, May 20-22.

Further, connect with us on Facebook, LinkedIn, Twitter, YouTube and SlideShare.

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

Jackie Janus of Fleishman-Hillard, +1-314-982-1742, jackie.janus@fleishman.com

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

Forest City confirms exploring potential recapitalization of 8 Spruce Street apartment tower in Lower Manhattan

 CLEVELAND, OH, May 14, 2012 /PRNewswire/ -- Forest City Enterprises, Inc., (NYSE: FCEA and FCEB) today confirmed that Forest City and National Real Estate Advisors (NREA), partners in the ownership of 8 Spruce Street (top left photo) in Lower Manhattan, have retained CBRE to explore the possibility of bringing a minority partner into the ownership of this iconic Frank Gehry-designed, 899-unit apartment tower.

Both Forest City and NREA remain fully committed to the property and expect to retain substantial ownership positions. 

 

"Given the high level of interest in apartments as an asset class, the strength of the New York market, and the acclaim for this extraordinary property, we and our partner believe it is prudent to explore interest from potential minority partners," said David J. LaRue (lower right photo), Forest City president and chief executive officer.

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

 Robert O'Brien, Executive Vice President - Chief Financial Officer, +1-216-621-6060;

Jeff Linton, Senior Vice President - Corporate Communication, +1-216-621-6060

Web Site: http://www.forestcity.net/

T5 Data Centers Signs Unum in Atlanta

 Atlanta, GA (May 14, 2012) – T5 Data Centers today announced that Unum will lease wholesale data center space in T5@Atlanta, T5’s purpose-built wholesale data center (top left  photo) located in Alpharetta. 

The new data center is part of Unum’s implementation of a data center strategy to add redundancy and modernize its facilities and systems to better serve its internal and external customers.

Sydney Crisp (lower right photo), VP of IT Operations and Risk Management at Unum said, “T5@Atlanta was selected because of its purpose built design and construction which resulted in a robust data center infrastructure.

“In addition, T5 was flexible in delivering a solution, which was tailored to our needs.  We have confidence in T5’s ability to run a first class facility and to deliver as promised.”  

For more information, visit http://www.t5datacenters.com or contact them at 404-239-7144.

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

Tony Wilbert

Wilbert News Strategies, LLC

404-965-5022 / 404-405-3656

twilbert@wilbertnewsstrategies.com

Jason Chartrand

T5 Data Centers

404-239-7144 / 404-933-5996

jchartrand@t5datacenters.com

Newmark Grubb Knight Frank Completes 160,000 SF Office Lease Renewal

  

Los Angeles CA (May 14, 2012) — Newmark Grubb Knight Frank today announced that it represented Lewis Brisbois Bisgaard & Smith LLP, a national, full-service law firm, in a 10-year lease renewal of 160,000 square feet of office space at 221 N. Figueroa St. (top left photo)The transaction’s total consideration is estimated at $45 million.

The lease renewal was facilitated by Clayton Hovivian (lower left photo), executive vice president, Tenant Advisory and Law Firm practice groups, and Hank Elder, senior vice president. In recent years, Hovivian also has assisted the law firm with transactions in New Jersey and San Diego, Calif.

“We are very pleased to recommit to a location where our firm has been able to grow over the past several decades,” said Robert F. Lewis, founder, Lewis Brisbois Bisgaard & Smith.

 “With Clayton and Hank’s help, we conducted a careful review of the market and determined that 221 N. Figueroa offered the most attractive economics, ample parking for our employees at competitive rates and other concessions we were able to secure.”

 A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC's financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world's leading financial institutions.

Contact: CorporateCommunications@Grubb-Ellis.com

Seeking Safety, Investors Turn to Single-Tenant, Net-Lease Properties

ATLANTA, GA (May 14, 2012) – The search for safe investments with worthwhile yields has created a huge demand for single-tenant, net-lease investments.

 That was the observation of show host Michael Bull (top right photo) and his guests during the most recent episode of “America’s Commercial Real Estate Show,” which provided an enlightening look at the current market for such properties.

These properties usually feature credit-grade tenants with long leases. “Everyone wants safety right now, and single-tenant, net-lease properties typically offer that,” said Bull, the founder and president of Bull Realty.

 Investor frustration with low-yielding bonds has helped spark the market for single-tenant, net-lease facilities, said Brad Watt, president of Petra Capital Advisors. Commercial real estateproperty sales totaled $100 billion in 2011, and a whopping $60 billion of that involved single-tenant sites, he added.

Also, the first two quarters of last year saw more single-tenant, net-lease properties change hands than any six-month period in history, Watt added. “We’re seeing strong, strong momentum in single-tenant, net-lease sales,” Watt added.

 Single-tenant, net-lease properties featuring drug-store chains such as Walgreens, auto stores like O’Reilly’s or fast-food restaurants such as McDonald’s as tenants are some of the properties most sought by investors, said Virginia Wright (middle left photo), vice president of Bull Realty’s National Net Lease Investment Group.

Consumer demand for discount retail has fueled a growth in the construction of single-tenant facilities featuring chains such as Dollar General and Family Dollar, said Brad Thomas (lower right photo), vice president of capital markets for Bull Realty and a writer for Forbes and Seeking Alpha. “That sector is certainly on fire right now,” he said.

 Overall, though, the construction of single-tenant, net-lease properties has not kept up with demand, resulting in increased prices and compressed cap rates, Watt said.

Cap rates for particularly high-quality assets in a good location – such as a drug store in the Northeast – could fetch a cap rate as low as 6.25 percent, Wright said.

 Overall, “we’ve seen 100 to 150 basis points of cap rate compression since the start of the recovery in 2009,” Watt said. Cap rates should remain the same or even slightly decrease in the near future, he added.

 The next “Commercial Real Estate Show” will be available May 17 and will examine commercial loan-workout strategies.

Contact

Stephen Ursery

Wilbert News Strategies

404.965.5026

sursery@wnspr.com

www.CREshow.com

Griffin-American Healthcare REIT II Reports First Quarter 2012 Results

 NEWPORT BEACH, CA. (May 14, 2012) - Griffin-American Healthcare REIT II, Inc. today announced operating results for the company's first quarter ended March 31, 2012.

"Griffin-American Healthcare REIT II acquired 16 buildings valued at $232.8 million, based on purchase price, during the first quarter of 2012, representing portfolio expansion of more than 53 percent during the quarter," said Danny Prosky (top right photo), president and chief operating officer.

 "As a result of this expansion, important financial metrics, such as modified funds from operations and net operating income, experienced year-over-year growth of approximately 263 percent and 221 percent, respectively, as compared to the first quarter of 2011."

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

Damon Elder

delder@ahinvestors.com

(949) 270-9207

http://www.americanhealthcareinvestors.com/

Atlanta Small Business Gain a Competitive Edge with Invest Atlanta as Latest Ex-Im Bank City/State Partner

 Washington, D.C. – Atlanta entrepreneurs will now have access to local resources that will help them increase export sales and boost job creation and growth.

This assistance will come from the Export-Import Bank of the United States (Ex-Im Bank), which recently signed an agreement to partner with Invest Atlanta, Atlanta’s Development Authority as Atlanta becomes the most recent city to join the Bank’s City- State Partnership program.

Ex-Im Bank’s City-State Partners bring state, county, and local non-profit economic development entities together to expand export opportunities for American small- and mid-size exporters by offering advice on successfully selling in the international marketplace.

They provide a platform for local small business owners to stay up-to-date on Ex-Im Bank products and services and access trade finance specialists.

 “This partnership with Invest Atlanta will support Georgia small businesses and help them gain access to overseas markets,” said Fred P. Hochberg (top left photo), chairman and president of Ex-Im Bank.

“With Ex-Im Bank export financing products and services, the Atlanta business community will be able to grow sales and create jobs through exports.”

“This relationship with the City-State Partnership Program will greatly benefit our businesses and the City of Atlanta’s economic development efforts,” said Brian P. McGowan (top right photo), president and CEO of Invest Atlanta.

 “Atlanta is an international city conducting business around the world. Giving our businesses a more efficient path to overseas markets is a great way to ensure they have the opportunity to participate in the global marketplace.”

For more information, visit www.exim.gov.

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

Adrian Gianforti:  202-565-3200

Tony Wilbert,  404-965-5022  

Avison Young opens new office in Charleston, SC

  

 TORONTO, May 14, 2012 /PRNewswire/ - Mark E. Rose (lower right photo), Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today the opening of a new office in Charleston, South Carolina.

The newest American office marks Avison Young's 14th location outside of

Canada and the next step in the firm's aggressive growth and expansion

strategy.

Over the past three years, Avison Young has grown from 11 to 31 offices in 28 markets and from 300 to more than 900 real estate professionals across Canada and the U.S.

Today's announcement comes on the heels of Avison Young opening new offices in New York and San Francisco last month.

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

Media Relations:             

Sherry Quan

(604) 647-5098 or

 (604) 726-0959 cell

email: sherry.quan@avisonyoung.com

HFF closes $15 million sale of and arranges $9.75 million financing for Intercontinental Parking Garage in Boston

                          

BOSTON, MA – HFF announced today that it has closed the sale of and arranged financing for the parking garage below the Intercontinental Hotel & Residences (top left photo) in Boston’s Financial District.

HFF marketed the property as part of a court-mandated Federal Receivership, and procured the buyer, Synergy Investment & Development of Boston. 

 The sale price was $15.0 million.  HFF also arranged a $9.75 million, seven-year, fixed-rate acquisition loan through Webster Bank on behalf of the buyer.

The 376-space garage is part of a mixed-used development that was completed in 2006 and is located between the Rose Kennedy Greenway and the Fort Point Channel. 

Synergy Investment & Development is a Boston-based real estate investment and development firm focused on the acquisition and operation of office, retail and residential assets, and their associated debt.

Contacts:              

COLEMAN BENEDICT                       

HFF Managing Director                            

(617) 338-0990                                         

cbenedict@hfflp.com    

GREG LABINE                          

HFF Director                             

(617) 338-0990                             

glabine@hfflp.com                      

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF secures $13.6 million refinancing for Claremont Corporate Center in Summit, NJ

 FLORHAM PARK, NJ – HFF announced today that it has secured a $13.6 million refinancing for Claremont Corporate Center (top left photo), a 41,982-square-foot, Class A office building in Summit, New Jersey.

HFF arranged the financing on behalf of Claremont Corporate Center LLC of Summit, New Jersey (www.claremontcorporate.com).  Cantor Commercial Real Estate provided the 10-year, fixed-rate loan.  Proceeds were used to refinance a construction/permanent loan previously arranged by HFF in 2008.

Claremont Corporate Center is located at 535 Springfield Avenue in downtown Summit about 22 miles west of Manhattan.  Completed in 2010, the center is 100 percent occupied by five tenants.  The building incorporates the more than 100-year-old Risk Mansion into its exterior and is within walking distance of a commuter train station to Manhattan and the surrounding areas.

The HFF team representing the borrower was led by senior managing director Jon Mikula (lower right photo).

Contacts:              

JON MIKULA                                                         

 HFF Senior Managing Director                           

 (973) 549-2000                                                       

 jmikula@hfflp.com                                                 

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com