HFF secures $50 million refinancing for Bayfair Center in San Leandro, CA

WASHINGTON, D.C. – HFF announced today that it has secured a $50 million refinancing for Bayfair Center (top left photo), an 813,307-square-foot retail center in San Leandro, California.

HFF worked exclusively on behalf of Madison Marquette Retail Enhancement Fund to secure the five-year, adjustable-rate loan through Guggenheim Commercial Real Estate Finance. 

Bayfair Center is located at 15555 East 14th Street in the suburban East Bay community of San Leandro.  Renovated in 2008, the property is a hybrid power center with an interior mall component. 

Currently 97 percent leased, Bayfair Center serves a population of more than 825,000 within a 10-mile radius, with a median household income of more than $83,000. 

 Tenants include Macy’s, Target, Kohl’s, Staples, Old Navy, PetSmart, Bed Bath & Beyond, 24 Hour Fitness and Cinemark Century 16 Theater.

The HFF team representing Madison Marquette Retail Enhancement Fund was led by managing director Mark Remington (lower right photo) and senior managing director Bruce Ganong (lower left photo) 

 “The outcome here represents a big win for our client, allowing them to recapitalize and finish the repositioning process on the property that was started when it was acquired,” Remington said.

Contacts:

MARK REMINGTON                         

HFF Managing Director                        

(202) 533-2500                                       

mremington@hfflp.com   

BRUCE GANONG                       

HFF Senior Managing Director    

(415) 276-6300                               

bganong@hfflp.com  

MYRA MOREN

HFF Director, Marketing

(713) 852-3500

mmoren@hfflp.com  

      

Construction is Underway on Todd Cancer Institute Pavilion at Long Beach Memorial

Long Beach, CA –McCarthy Building Companies, Inc., one of Southern California’s preeminent healthcare builders, has recently begun construction of the new $31 million (development cost) MemorialCare Todd Cancer Institute Pavilion (top left rendering and lower right lobby photo)) at Long Beach Memorial.

Located in an existing building on the Long Beach Memorial campus in Long Beach, Calif., the new pavilion is scheduled to open early in the summer of 2013.

Serving as general contractor for the project, McCarthy’s scope of work includes transforming 65,000-square-feet on the second and third floors of an existing four-level administration building into a dedicated cancer treatment center.

The project also includes construction of a two-level, 1,913-square-foot lobby addition which will serve as the entrance to the new pavilion.

As a hands-on builder, McCarthy will use its own labor for the structural concrete work and construction of the site retaining walls for the new facility.

  

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

Laura Mickelson (LM Communications)                

Lauramickelson@cox.net;

 (949) 453-0851

 or

 Susan Garritano (McCarthy Building Companies, Inc.)

Sgarritano@mccarthy.com;

 (314) 968-3300

www.mccarthy.com .

Colliers International Selected to Sell Charleston Plaza Property in Silicon Valley, CA

SAN FRANCISCO,  CA, July 23, 2012 /PRNewswire/ -- Colliers International has been retained as the exclusive marketing agent for Charleston Plaza, an approximate 132,590 square-foot community retail center in Mountain View, Calif.

 The trophy-class property is owned by Dollinger Properties. Colliers International's retail investment specialists Kevin Van Voorhis (lower right photo), Jay Gomez, and James Kaye, in San Francisco will market the property for sale. 

 

Located in California's affluent Silicon Valley, Dollinger Properties developed Charleston Plaza in 2006. Positioned in a supply constrained market with high barriers to entry, this was the first traditional community retail center to be built in the past 15 years within a 10-mile radius, which has resulted in high retail tenant demand. Charleston Plaza was 100 percent pre-leased prior to completion in 2006. 

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

  

Sonia Roll,

Colliers International,

+1-415-288-7836,

Sonia.roll@colliers.com

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

Berger Commercial Realty Brokers Close $1.45 Million Deal in Miami

 FORT LAUDERDALE, FL (July 23, 2012) – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced brokers Judy Dolan and Steve Hyatt sold a $1.45 million note for Waterfall Victoria Mortgage Trust to SBC 2010-1 LLC.

 The mortgage was secured by 72 multifamily units in six buildings in the Little Havana neighborhood of Miami (top left photo).

 Additionally, Hyatt represented States Resource Corp. in the sale of a retail building, located at 2381-2387 NW 54th Street in Miami, to Ibrahim Investment Group for $160,000.

 Contact:

 Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

Marcus & Millichap Lists Two Retail Power Centers in Virginia

  

COLONIAL HEIGHTS, VA, July 23, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the exclusive listing to market Dimmock Square (middle right photo) and Southgate Square (top left photo), two shopping centers located adjacent to Southpark Mall, an 800,000-square foot enclosed regional mall in Colonial Heights, Va., a submarket within the Richmond, Va. metropolitan statistical area.

The centers are being offered together but offers on the individual assets will be considered. The price is open bid.

Michael Dillon (lower left photo), a vice president investments in Marcus & Millichap’s Chicago O’Hare office, and Michael Early, a vice president investments in the firm’s Southern Virginia office, are representing the seller.

 “It’s rare for investors to have the opportunity to acquire two core power centers located adjacent to a dominant regional mall in a major Mid-Atlantic market,” says Dillon. “The total offering consists of approximately 379,822 square feet of gross leasable area on 36.5 acres.”

Located at 725 Southpark Blvd. in Colonial Heights, the 106,166-square foot Dimmock Square center is anchored by Best Buy, Pier 1, Shoe Carnival, Old Navy and Target, which is not part of the offering.

Southgate Square is located at 44-184 Southgate Square in Colonial Heights. The 273,656-square foot center has 1,265 feet of frontage on Interstate 95 and 1,195 feet of frontage on Southpark Boulevard.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Lincoln Property Company Brokers Leases by Ben’s Marketplace and Golfsmith at Venture Pointe in Suburban Atlanta

ATLANTA, GA (July 23, 2012) – Lincoln Property Company Southeast has signed a 35,172-square-foot new lease by Ben’s Marketplace and a 25,129-square-foot lease renewal by Golfsmith at the Venture Pointe power center (top left photo) in Duluth, Ga.

 Earlier this year, Lincoln was appointed receiver of Venture Pointe, which totals 335,420 square feet of retail space, by The Situs Cos.

Lincoln also oversees the management and leasing of the property, which has seen occupancy rise to 75 percent and whose other anchor tenants include Kohl’s and Babies “R” Us. The property is shadow anchored by a SuperTarget and a Costco Wholesale.

 “These transactions are indicative of an improving retail climate we’ve observed in recent months,” said Tony Bartlett (lower right photo), senior vice president of Lincoln Property Company Southeast.

“We’ve seen a meaningful uptick in retailer interest in Venture Pointe and our other properties in the last 90 days as an improved national economy has stirred big-box users and news about metro Atlanta’s improving employment has kick-started activity. We’re excited about the chances to create further value at Venture Pointe for our client.”

.Contact:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Hendricks & Partners Negotiates sale of Silver Terrace I and II Apartments in Pine Hills, FL for $2.478 million

ORLANDO, FL --- Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale Silver Terrace I and Silver Terrace II Apartments (top left photo), located on Rose Coral Drive in Orlando’s Pine Hills for $2.478 million.

Cole Whitaker (middle right photo), partner and director of the Southeast Division of Hendricks & Partners, negotiated the sale with associate partner Hal Warren in Orlando and senior investment advisor Jason Stanton in the firm’s Tampa office.

Hendricks & Partners represented the seller, Blue Valley Apartments, Inc. The buyer was not disclosed.

Silver Terrace I Apartments brought a sale price of $1,571,500 and Silver Terrace II Apartments sold for $906,600. Combined, Silver Terrace Apartments total 164 units in 93,312 square feet. The one-story garden style apartments built in 1987 range from studio to two-bedroom/two-bath with an average rent of $505.

Hendricks & Partners Negotiates $1.548 million sale of Pineview Apartments in Pine Hills, FL

ORLANDO, Fla. --- Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale of the Pineview Apartments, on N. Pine Hills Rd in Orlando for $1.548 million.

Cole Whitaker, partner and director of the Southeast Division of Hendricks & Partners, negotiated the sale of the 91-unit apartment property with associate partner Hal Warren in Orlando and senior investment advisor Jason Stanton (lower right photo) in the firm’s Tampa office.

Hendricks & Partners represented the seller, Blue Valley Apartments, Inc. The buyer was not disclosed.

The 25-year-old Pineview apartment community with a total of 46,656 rentable square feet consists of studio, one and two bedroom units with a monthly rent that averages $481.

For more information on both transactions, please  contact:

Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880, cwhitaker@hpapts.com;

Hal Warren, Associate Partner, Hendricks & Partners, 407-218-8881, hwarren@hpapts.com;

Jason T. Stanton CCIM, Senior Investment Advisor, Hendricks & Partners, 727-674-4097, jstanton@hpapts.com

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

Colliers International Ranked #21 Among IAOP's Top 100 Global Outsourcing Companies

SEATTLE, WA, July 23, 2012 /PRNewswire-USNewswire/ -- For the seventh year in a row, the International Association of Outsourcing Professionals named Colliers International among the world's best outsourcing service providers on a competitive list of global firms.

Colliers International is the only real estate firm to achieve this honor every year since the list's inception in 2006. IAOP specifically considered Colliers' Global Corporate Solutions service line, and noted that customer references were a key strength for the organization.

"It is an honor for our teams to be recognized by IAOP, especially as the only real estate firm ranking in the Top 100 every year," noted Douglas P. Frye (top right photo), global President and CEO of Colliers International. "We are passionate about delivering the best service experience--strong business outcomes from in-depth expertise and a memorable personal experience--and that's what distinguishes Colliers' services from others."

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

http://www.colliers.com/en-US

Atlanta Property Group Acquires 280 Interstate North

 ATLANTA, GA (July 23, 2012) – Atlanta Property Group, a locally based real estate investment firm, said today it has closed on its acquisition of 280 Interstate North (top left photo), an office building in the heart of Atlanta’s Cumberland/Galleria submarket.

The six-story building at 280 Interstate North Circle in Cobb County comprises 124,273 square feet and is adjacent to the Interstate North Office Park and just north of the intersection of I-285 and I-75.

APG’s newest asset, 280 Interstate North offers great access to interstates 285 and 75 and is proximate to Sandy Springs, Vinings and Buckhead. The building also features free parking at a ratio of 4.5 spaces per 1,000 square feet that is uncommon in the area and will enable 280 Interstate to compete for high-density users.

Over the next year, Atlanta Property Group will invest nearly $400,000 to renovate the building’s common areas and improve the property’s aesthetic appeal. APG will compete aggressively for tenants and has ample capital available for tenant improvements and leasing commissions.

Built in 1982, the building is 72 percent leased. A Cushman & Wakefield team led by David Meline (middle left photo) and Stewart Calhoun (lower right photo) represented the seller in the transaction.

Terms of the 280 Interstate North transaction were not disclosed, although APG did purchase the asset at a substantial discount to its most recent sale in 2007.

“280 Interstate North fits nicely into Atlanta Property Group’s portfolio of well-located, value-orientated properties that offer tenants quality office space at competitive prices,” said Jonathan Rodbell (middle right photo), a partner at Atlanta Property Group. “The asset also allows us to further diversify geographically and offer space in the desirable Cumberland/Galleria market.”

Court Thomas, also a partner in Atlanta Property Group, said the firm is seeking similar assets to add to its growing portfolio. “We’re well positioned to acquire additional similar middle-market properties at discounted prices.”

280 Interstate North is the latest acquisition by APG’s discretionary fund, which has acquired four properties totaling more than 700,000 square feet in the past two years. The other three are 1200 Ashwood in the Central Perimeter submarket, 2801 Buford Highway in the Druid Chase office park and The Park at Perimeter Center East.

APG has tapped Austin Chase and Kirven Brantley of Lavista Associates to market and lease 280 Interstate North. They can be reached at 770-448-6400.

 Contact:

Tony Wilbert                                           

Wilbert News Strategies

404-965-5022 (O)

404-405-3656 (C)

twilbert@wnspr.com

Charles Dunn Co. Completes $3.7 Million Sale of a Single-Tenant Retail Property Occupied by Marsh Supermarket in Cincinnati, OH

LOS ANGELES, CA, July 23, 2012 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $3,705,000 sale of a single-tenant retail property occupied by Marsh Supermarket located at 11865 Hamilton Ave. in Cincinnati, Ohio.

Michel Hibbert (lower right photo) of Charles Dunn Company represented the Los Angeles-based buyer, BH Marsh Investment LLC.

The seller was MCI Hamilton Ohio Grocery LLC and was represented by Bob Tuller and Tom Baginski of Cassidy Turley. The closing cap rate was 10.34 percent.

“There is a large amount of capital in California seeking real estate opportunities. Single-tenant retail properties outside of the state can present better annual returns yet offer the security of a tangible asset you can’t get from stock market investing,” said Hibbert.

Hibbert added: “We identified a well-located NNN-leased, single-tenant property with a well-performing tenant that is on a long-term lease. This acquisition provided the buyer with a favorable cap rate as well as no property management responsibilities.”

The free-standing property totals 32,117 square feet and is situated on nearly 9 acres of land.

Contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Hayman Woods Apartment Properties LLC Acquires Multifamily Community in Suburban Fort Worth, TX

Dallas,TX, July 23, 2012 --  Hayman Woods, LLC (www.haymanwoods.com) announced today the acquisition of Bellagio at Beach Street (ltop left photo), a 398-unit multifamily community located in Haltom City, Texas by a subsidiary of Hayman Woods Apartment Properties, LLC.

Hayman Woods completed the acquisition utilizing $20.5 million of long- term fixed-rate Fannie Mae financing.

                     

“Bellagio at Beach Street is a great acquisition for our investors.  We know the Fort Worth market well and believe this property will continue to improve as the area’s transportation infrastructure improves,” said Jonas Woods, CEO of Hayman Woods.

                       

Bellagio at Beach Street was completed in 2001 and is comprised of 14 residential buildings and a central clubhouse on approximately 16 acres at 4200 Northern Cross Blvd., Haltom City, Texas  76137.

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

 Carey Marin

carey@careymarin.com

(214) 914-1157   

Five-Property Self-Storage Portfolio Sells in Memphis, TN

  

MEMPHIS, TN, July 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of a five-property, 2,671-unit, 338,766-rentable square foot self-storage portfolio located in the greater Memphis metropolitan area. The terms of the sale were not disclosed.

Charles “Chico” LeClaire (lower right photo), a senior vice president investments in Marcus & Millichap’s Denver office, and Anne Williams (lower left photo), an associate in the firm’s Memphis office, represented the seller, Memphis Storage LLC. Memphis Storage’s managing member is Kenneth Cox. The buyer is Amsdell Storage Ventures VII  LLC. 

 “This acquisition represents a re-entrance into the Memphis market by the buyer and notably added to their national portfolio,” says Williams. “Self-storage acquisitions were steady in 2011 but have increased in 2012. Sellers are motivated to sell while interest rates are low, raising property values and fueling investor demand,” adds Williams.

“This was a perfect match between a motivated buyer and a seller eager to transact in the current market,” offers LeClaire.

Two of the properties are located in Memphis, two are in Olive Branch, Miss. and one is in Hernando, Miss.

All of the properties in the portfolio were designed and built as self-storage facilities between 1973 and 2003. All are well maintained and have stabilized income.

Contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Colliers International Completes Sale of 126,244-SF Office/R&D Campus in San Jose, CA

San Jose, CA, July 20, 2012 –. – Colliers International, the third largest global real estate services organization, has completed the sale of a two-building 126,244-square-foot office and R&D asset located at 3000 & 3030 Orchard Parkway (top left photo) in San Jose, Calif.

 The purchase price remains confidential.   AEW acquired the property on behalf of one of its institutional clients.

Built in 2000, the Class A property is 100 percent leased and sits on 6.43 acres just off the prestigious North First Street Corridor. 3000 Orchard Parkway is leased by Samsung and 3030 Orchard Parkway is leased by SAP, but is currently subleased to Fairchild Semiconductor, which utilizes the building as its headquarters. 

 The Colliers Investment Services Group led by Fred Córdova (middle right photo), Andy Zighelboim, Nate Jones, Jim Beeger, Ryan Eddy, and Tommy Kim, represented the seller, DivcoWest, a privately owned real estate investment firm with offices in San Francisco and Boston.

 The buyer, Boston-based AEW Capital Management, a real estate investment portfolio manager with a major West Coast presence in Los Angeles plans to capitalize on a rapidly improving North San Jose leasing market. AEW represented itself in the transaction.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Colliers International Completes Lease of a 44,171 SFt Industrial Building in Westlake Village, CA

 Westlake Village, CA, July 20, 2012. – Colliers International, the third largest global real estate services organization, has completed the lease of a 44,171-square-foot industrial property located at 31186 La Baya Drive (top left photo) in Westlake Village.  The 10-year transaction is valued at over $4 million.

John DeGrinis (middle right photo), SIOR, senior executive vice president, Patrick DuRoss, associate vice president, and Jeff Abraham, senior associate all based in Colliers International’s Encino office represented the landlord, 31186 La Baya Drive, LLC.  The tenant was represented by Ron Berndt and Kevin Tamura of Daum Commercial.

The tenant, Rantec Microwave Systems, is relocating from nearby Calabasas where it has resided for many years.  Rantec manufactures microwave antennas used in military and commercial applications such as radar, missile guidance and navigation.

DeGrinis reported: “This type of facility is rare for the Westlake Village area given it is a true warehouse/manufacturing building not normally found in the heart of the Conejo Valley where office and highly improved tech/flex facilities are more the norm.”

The industrial property was constructed in 1978 and offers visibility on Thousand Oaks Blvd. as well as building features including 23-foot minimum clearance, 1600 amps of power, 5 dock high positions and 13,000-square-feet of high image office space. 

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

HFF markets IDS Center in Minneapolis, MN for sale

 CHICAGO, IL – HFF announced it has been named to market for sale the IDS Center (top left photo) on behalf of the seller, Inland American Real Estate Trust, Inc. 

Heralded by the New York Times as “one of the finest skyscrapers built in any American city,” the IDS Center is located on Nicollet Mall, an upscale shopping and dining district in the core of the skyway system in the Twin Cities. 

The HFF investment sales team, representing the seller, is led by senior managing directors Jeff Bramson (middle right photo) and Jaime Fink (lower left photo), along with director Mark Katz. 

 “The IDS Center is an iconic asset totaling more than two million square feet and is the centerpiece of downtown Minneapolis,” said Jeff Manno, vice president of acquisitions for Inland American Business Manager & Advisor, Inc.

“The decision to market this asset for sale is consistent with the execution of our long-term strategy to reposition the portfolio and focus on retail, student housing and lodging investments.” 

The award-winning 57-story post-modern building was designed by the influential American architect Philip Johnson in 1972. 

“Given the stability of the Minneapolis market, the property’s high occupancy rate and the historically low interest rate environment, we feel this is the opportune time to be able to drive value on this asset,” said Jeffrey M. Bramson, senior managing director for HFF. 

“The property’s retail center, Crystal Court, serves as the crossroads of business and commerce in the central business district.  Traffic counts of those walking through the center have often exceeded 50,000 people per day.”

For further information regarding Inland American, please refer to the company website at www.inlandamerican.com.

 Contacts:

                

JEFFREY M. BRAMSON                           

HFF Senior Managing Director             

(312) 528-3650                                       

jbramson@hfflp.com                             

JAIME F. FINK                                      

HFF Senior Managing Director      

(312) 528-3650                                   

jfink@hfflp.com  

MYRA F. MOREN

HFF Director, Marketing

(713) 852-3500               

mmoren@hfflp.com