NAI Realvest Negotiates Long Term Retail Lease at Hunter’s Creek Plaza in South Orlando

ORLANDO, Fla. – NAI Realvest recently negotiated a new long-term lease agreement for 3,100 square feet in the Hunter’s Creek Plaza on Town Center Blvd. in South Orlando.

 Mez Birdie, CCIM, director of retail services for NAI Realvest, negotiated the lease representing retailer Once upon a Child which specializes in buying and selling gently used and new children’s clothing, toys, furniture and accessories. 

 The landlord, Hunter’s Creek Plaza, LLC was represented in the transaction by Whitaker Leonhardt a director at Crossman & Company.

For more information,  contact

 Mez Birdie, CCIM, Director/Retail & Investment Services NAI Realvest

407-875-9989, Mbirdie@realvest.com

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

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

NAI Realvest Negotiates New Office Lease Agreement at Winter Park’s Gateway Plaza

  

MAITLAND, Fla. --- NAI Realvest recently negotiated a new office lease in Gateway Plaza (top left photo) at 1201 S. Orlando Ave. in Winter Park.

 NAI Realvest Principal Tom R. Kelley II, CCIM represented the tenant Fimognari Financial in a lease agreement for  suite 320 with 1,481 square feet.   Gateway Plaza, Ltd. is the landlord.

 For more information, contact:

Tom R.  Kelley, II CCIM, Principal, NAI Realvest, 407-875-9989, tkelley@realvest.com;

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

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

Winston James Development leases space to Internet media firm at Aloma Business Center in Winter Park, FL

Winter Park, FL--- Winston James Development has agreed to lease additional office space at its business center on Aloma Ave. in Winter Park to the No-Limit Marketing firm.

The tenant, leased 940 square feet and is an Internet multi-media marketing firm, Winston Schwartz, president of Winston-James Development, Inc said.

Winston James Development developed the Aloma Business Center (top left photo).

For more information, contact:

Winston Schwartz, President, Winston-James Development, LLC 933 Beville Rd., South Daytona, Fla. 32119; 386-760-2555;

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

CBRE Orlando Brokers $12.5 Million Sale of Oakwood Village Apartments in Winter Park, FL

ORLANDO, FL -- CBRE is pleased to announce the sale of Oakwood Village apartments (top left and lower right photos) in Winter Park, FL for $12,500,000.

Built in 1973, the community features 278 units on Lake Nan with an average of 811 SF per unit. The property was 90% occupied at closing.

Shelton Granade and Luke Wickham ofCBRE’s Central Florida Multi-Housing Group exclusively represented the seller. The closing was CBRE’s second in two weeks and a marketleading 22nd multi-housing transaction locally in 2012 year to date.

Buyer interest in multi-housing assets in Central Florida has increased significantly.

For further information, please, contact

Central Florida

Multi-Housing Group of CBRE.

Shelton Granade

Executive Vice President

T 407.839.3103

shelton.granade@cbre.com

Luke Wickham

Director of Operations

T 407.839.3130

luke.wickham@cbre.com

Post Properties Announces $74 Million Acquisition of Post South End™ in Charlotte, NC

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced today the closing of its acquisition of the 360-unit Post South End™ (top left photo) apartment community.

 The community is located in the South End neighborhood of Charlotte, at the Bland Street station on Charlotte’s Lynx Blue Line, which provides light rail service to Charlotte’s major Uptown employment center.

Post South End™ is LEED Silver certified, and was completed in 2009. The community has average unit sizes of 847 square feet and is currently approximately 95% occupied. The community also features 7,612 square feet of retail space that is 100% leased to three restaurant/bar concepts.

The purchase price of the acquisition is $74 million, which the Company funded with available cash. The Company currently expects the yield over its first twelve months of ownership will be approximately 5%, after a 3% management fee and $300 per unit reserve.

Said Dave Stockert (lower right photo) CEO, “The Charlotte apartment market is performing very well, and we are pleased to add a high-quality, well-located community to the Post portfolio in that city.

“Post South End™ provides access to transit and a mixed-use environment that appeals to the young, educated professionals we look to attract and retain as our residents.”

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

Post Properties, Inc., Dave Stockert, 404-846-5000

Two of the Best Economic Recovery Programs for Small Businesses in the U.S. set to expire unless Congress acts soon

ORLANDO, FL. – Two of the most effective economic recovery programs for small businesses in the U.S. are set to expire in late September unless Congress ends its election-year deadlock and acts to extend them.

Christopher Hurn (top right photo), chief executive officer of Mercantile Capital Corporation, one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, said he’s worried that SBA 504 loans for small businesses are being overlooked as Congress grapples with more visible public policy issues.

Hurn said the two initiatives — the SBA 504 refinance program and the First Mortgage Lien Pooling (FMLP) program — significantly expand the benefits of SBA 504 financing for small businesses in the U.S. at a time when our economy needs those businesses to grow and create jobs.

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

Chris Hurn, Mercantile Capital Corporation, 407-786-5040 CHurn@mercantilecc.com

Larry Vershel Communications 407-644 4142 Lvershelco@aol.com

www.504Experts.com and www.504Blog.com

Colliers International South Florida Lists Medical Building for Lease After Completing Sale

MIAMI, FL, July 25, 2012 - Colliers International South Florida has been named the exclusive representative to lease Boca West Medical Center (top left photo), a 31,600-square-foot former medical building, located just south of the intersection of Glades Road and State Road 7 in Boca Raton, FL.

 Last year Executive Vice President Robert Listokin, SIOR and Senior Commercial Associate Peyton Moore, MBA sold the building to the current owners on behalf of the previous owner, Aptium Oncology, and have now been engaged to lease the building.

The available space is fully furnished and ideal for medical and medical related users.

"The property presents the perfect opportunity for an outpatient surgery center, cancer treatment center, physicians' group or other healthcare related business, to lease the premier medical building along the busy Glades Road/State Road 7 (US 441) corridor in West Boca Raton," says Listokin.

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

Crystal Proenza

Vice President of Marketing

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Advenir Acquires Apartment Community in Orlando, FL for $27.1 Million

 ORLANDO, FL, July 25, 2012 – Advenir, a premier provider of multi-family real estate investment and management services, has acquired Advenir at Polos East (top left photo) (formerly Polos East at Waterford), a 308 unit community located in the upscale Waterford Lakes submarket of Orlando, Florida for $27.1 million. 

 In the past 12 months, Advenir has acquired more than 2,300 multi-family units.

“We were attracted to Advenir at Polos East because of the significant value to replacement cost, strong market fundamentals and clear value-add potential,” said Todd Linden (lower right photo), Chief Acquisition Officer of Advenir.

 “Advenir is actively looking to acquire stabilized income producing multi-family assets in markets that have exhibited, and are projecting, healthy economies, positive employment growth, and in-migration.”

Advenir at Polos East is 94 percent leased.  The community features 140 one bedroom/one bathroom units, 136 two bedroom/two bathroom units and 32 three bedroom/two bathroom units.  Currently, rents average $750-$1,100 per month.

Advenir represented itself in the transaction.  Kevin Judd, Patrick Dufour and Matt Wilcox of ARA represented the seller, a National-based REIT.

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

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Institutional Property Advisors Names Drew Kile Director

FORT WORTH, TX– Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has named Drew Kile (top right photo) as a director, according to Hessam Nadji, managing director of IPA.

 “As a Fort Worth native, Drew brings unparalleled market expertise to his new position,” says Nadji. “The addition of Drew to our team of elite multifamily brokerage specialists allows IPA to bring its client-focused approach to every market in Texas.”

Kile joins the Balthrope Group, which is led by IPA executive director, Will Balthrope. Working from IPA’s Fort Worth office, Kile focuses on enhancing IPA’s services for institutions and major private owners throughout Tarrant County, one of the fastest-growing urban areas in the United States.

Bill Rose of Marcus & Millichap Appointed ICSC Western Division Operations Chairman

 SAN DIEGO, CA ­­­– Marcus & Millichap announced that the International Council of Shopping Centers (ICSC) has appointed Bill Rose (lower left photo) as Western division Operation Chair for a one-year term beginning in April 2012. In this volunteer role, Rose will represent the interests of owners, developers, investors, marketers and other retail specialists across the western region of the United States. 

“Bill has been instrumental in improving our service delivery to major retail investors and in expanding the firm’s retail and net-lease business,” says John J. Kerin, president and chief executive officer of Marcus & Millichap. “Furthermore, he has successfully mentored and assisted our retail agents in developing their business, which makes him an excellent choice as the ICSC Western Division Operations Chairman. His involvement and understanding of the inner workings of the ICSC organization also make him a great selection.”

For complete copies of both news releases, please contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

stacey.corso@marcusmillichap.com

Voit Directs Sale of 74,586-SF Retail Center in Greater Sacramento, CA

 Sacramento, CA– Voit Real Estate Services’ Sacramento  office has successfully completed the sale of Lincoln Gateway (top left photo), a 74,586 square-foot, mixed-use retail/office property, on behalf of the buyer and seller.

This newly constructed, eight-building center is made up of 32,757 square feet of retail space and 41,829 square feet of office space, according to Robb Osborne (middle right photo), a Senior Vice President in Voit’s Sacramento office.  Current retail tenants include Auto Zone, Massage Envy, and Little Caesars.

Osborne represented the buyer, Sacramento-based Vanir Group of Companies, a construction management and development company. The seller, Panattoni Development Company, an international commercial real estate investment firm, was represented by Gary Gallelli (middle left photo) and Mickey Turpen (lower right photo), also of Voit’s Sacramento office.

“The success of this transaction speaks to the quality of the property, as well as the strength of the buyer.  Vanir Group is financially capable of implementing tenant improvements as needed, which will allow the retail space to be leased quickly,” said Osborne. 

The property’s leasing potential is already evident, according to Osborne, who reported that during escrow, the Voit team completed an 18,000 square-foot lease within Lincoln Gateway on behalf of a local gym.  Cole Sweatt, an Assistant Vice President in Voit’s Sacramento office, represented the gym in the lease transaction.

“By securing this sizable lease, our team was able to further stabilize the asset, reducing the risk of the investment, which was beneficial to both the buyer and seller,” explained Osborne.

In addition, the Voit team worked with the buyer to develop a strategy to maximize the value of the asset, according to Osborne.  Based on this strategy, Vanir Group plans to lease the retail space, while marketing the office space to owner-users for lease or sale.

The property is located at 100-170 Gateway Dr. in Lincoln, Calif.

Contact:

Jenn Quader/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Heslin Holdings Inc. Completes Redevelopment and $4.14 Million Sale of New Chase Bank in Los Angeles

Los Angeles, CA– Heslin Holdings, Inc., a privately held, full service real estate acquisition and development firm, has completed the redevelopment and $4.14 million sale of a new, 4,672 square-foot Chase bank (top left photo) at 2175 Colorado Blvd. in the Eagle Rock neighborhood of Los Angeles, Calif. 

“We were able to capture a significant gain from this disposition, which is part of a larger strategy to monetize our large LA-based portfolio,”  explained Matthew J. Heslin, President of Heslin Holdings. 

“We plan to dispose of various assets in the next six months and redeploy those funds to acquire multiple retail properties throughout the Western U.S.,” noted Heslin. 

The property, which was acquired by Heslin Holdings Inc. in 2007, was formerly occupied by Blockbuster Video.  Heslin Holdings secured a 15-year, triple-net lease with Chase bank in 2011, and redeveloped the property to meet the needs of the bank, according to Heslin. 

“The triple-net investment market is commanding strong interest from both domestic and foreign buyers, and we are seeing significant cap rate compression on investment-grade real estate,” explained Heslin.  “This was the right time to sell this asset to an investor, who was able to achieve an acceptable cash on cash return.”

The buyer, May Lilly LLC, is a California-based investment group. 

Founded in 2003, Heslin Holdings is a privately held full service real estate acquisition and development firm, specializing in acquiring and developing retail portfolios and properties throughout the Southwest United States. 

Contact:

Jenn Quader

Brower, Miller & Cole

(949) 955-7940

jquader@browermillercole.com

www.heslinholdings.com.

Interstate Hotels & Resorts Announces 10th Management Agreement in China

 ARLINGTON, VA— Interstate Hotels & Resorts announced that Interstate China has signed an agreement to manage the 396-room Jiaxing Jin Jiang Xiang Jiadang Lake Hotel, its 10th managed or signed hotel in China.

The Jiaxing hotel is anticipated to open in 2013 and is the third Jin Jiang branded hotel managed by Interstate China.

 Interstate China Hotels & Resorts Company Limited (“Interstate China”) is a joint venture between Interstate Hotels & Resorts and Shanghai Jin Jiang International Hotels Company Limited (“Jin Jiang Hotels”), China’s leading hotel operator and developer.  

 “Since launching Interstate China in 2010 with our joint venture partner, Jin Jiang Hotels, we have built a solid pipeline of management agreements,” said Jim Abrahamson (lower right photo), Interstate’s chief executive officer.

 “This latest addition to our growing portfolio demonstrates the benefit that a world-class, proven hotel management company led by experienced operators can offer to hotel owners and developers around the world.”

For more information, visit www.interstatehotels.com.

Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and

 http://jobs.interstatehotels.com

.

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

Jerry Daly, Chris Daly

U.S. Media

Daly Gray, Inc.

703-435-6293

Chris@Dalygray.com

Lincoln Property Co. Announces Florida Property Management Assignments

 ORLANDO, FL(July 25, 2012) – Lincoln Property Company Southeast has landed two new property management assignments in Florida, one in downtown Orlando and another in Disney’s Town of Celebration.

 The new owners at 100 E. Pine Street (top left photo), an 87,000-square-foot office building in downtown Orlando, have awarded Lincoln both the property management and leasing assignments. This property is within walking distance of Lake Eola, the Orange County Courthouse, City Hall, shops, restaurants and downtown living communities.

“This building offers a variety of great office and retail opportunities for all types of businesses,” says Ed Price (lower right photo), vice president of property management for Lincoln. “The new owners are committed to enhancing the property to attract more tenants, and we are excited to be a part of the effort.”

 Lincoln also recently won the property management assignment for the 68,000-square-foot 210 Celebration office building in the Town of Celebration, which is currently 100 percent leased to a Disney entity.

Contact:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

 www.lpcsoutheast.com

DoubleTree by Hilton Introduces Hotel in Salt Lake City, UT

 Salt Lake City, UT (July 24, 2012) – DoubleTree by Hilton proudly announces the opening of an upscale full-service all suites hotel, located in downtown Salt Lake City and situated just 15 minutes from the Salt Lake City International Airport (SLC).

 The 241-room DoubleTree Suites by Hilton Salt Lake City (top left photo) is situated downtown, just blocks from the LDS Temple, Historic Temple Square, Salt Palace Convention Center, Energy Solutions Arena, Family History Center, Gateway Shopping Center and many other local attractions, business and tourist destinations.

Rob Palleschi (lower right photo), global head, DoubleTree by Hilton, said, “DoubleTree by Hilton invites our loyal business and leisure customers to stay with us in Utah, with the opening of DoubleTree Suites by Hilton Salt Lake City.

“This latest location extends our commitment to welcoming the world’s travelers in key destinations and providing a comfortable, amenity-rich hotel experience and exceptional service for visitors to work and play.”

The hotel is owned by Zions Suites, a limited partnership, and operated by Suite Thinking, Inc., under a franchise license agreement with a subsidiary of Hilton Worldwide.

 For more information about the DoubleTree Suites by Hilton Salt Lake City, please visit www.saltlakecitysuites.doubletree.com, contact your preferred travel professional or call the hotel directly at +1 801 359 7800.

                                                

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

Maggie Giddens

Director, Global Brand Public Relations

DoubleTree by Hilton

+1 703 883 5346

Maggie.Giddens@Hilton.com

 Chris Daly

Daly Gray Public Relations

chris@dalygray.com 

+1 703 435 6293

Crescent Resources Sells Circle At South End At Record Price in Charlotte, NC

CHARLOTTE, NC /PRNewswire/ --  Crescent Resources has sold Circle at South End for $74 million to an undisclosed buyer. With 360 units and 8,000 square feet of retail space, the community sold for approximately $205,555 per unit, a record for an apartment community in North Carolina.

"This transaction speaks volumes about the results and differentiation of our multifamily developments," said Brian Natwick (lower right photo), president of multifamily with Crescent Resources.

 "Like all our apartment communities, we started Circle at South End with an irreplaceable location and infused it with high-quality products and green features as well as innovative programming."

Circle at South End opened in May, 2009, the first 100-percent smoke-free community in Charlotte. In 2010,

Sarofim Realty Advisors was Crescent Resources' capital partner in Circle at South End. CBRE Group represented Crescent in the sale.

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

Kathryn Blanchard,

+1-704-376-3434

Web Site: http://www.crescent-resources.com