Lincoln Property Company Southeast Brokers $265,000 Sale of Office/Warehouse Building in Central Florida

  

                            Springview Industrial Park, DeBary, FL

 ORLANDO, Fla. (May 20, 2013) – Lincoln Property Company Southeast (Lincoln) has brokered the $265,000 sale of a 6,600-square-foot office/warehouse building in the Springview Industrial Park in DeBary, Fla.

Sean DuPree

 Sean DuPree, director of sales and leasing for Lincoln, represented the seller, Red DeBary Holdings LLC, in the transaction. Melody Traeger of Coldwell Banker Commercial AI Group represented the buyer, NDJ LLC.

 The building has a light-industrial zoning and features ceiling heights ranging from 18 feet to 20 feet. Springview Industrial Park is two miles from Interstate 4 and provides easy access to downtown Orlando.

Melody Traeger

 “Sean did an excellent job of working with the seller to find the right buyer and a good price for this property,” said Scott Stahley, a Lincoln senior vice president who manages the firm’s Orlando office.

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

Stephen Ursery

The Wilbert Group

404-965-5026

sursery@thewilbertgroup.com

http://blog.lpcsoutheast.com

lpcsoutheast.com

MACK Companies Purchases Fay’s Point, a 27-Acre Master-Planned Marina Community in Blue Island, IL

  

     

                                  Fay's Point townhomes rendering, Blue Island, IL

  CHICAGO,  – MACK Companies, one of the largest redevelopers of single-family investment properties in Chicago, has announced the purchase of Fay’s Point, a 27-acre development in Blue Island, Ill., just 15 miles south of Chicago.

James McClelland

Framed by the Little Calumet River, Fay’s Point is a marina community developed in 2006. The site is located just off of I-57, with close proximity to two Metra Rail stops and just minutes from a number of major retail outlets.  Fay’s Point is located at 1522 Broadway in Blue Island

The site includes 30 existing townhomes, home sites for 44 new-construction townhomes, five lots capable of up to 236 new multifamily units, and a marina with more than 80 boat slips.

 “We’re getting back to our roots with building ground-up, new construction residential properties,” said James McClelland, president and CEO of Tinley Park, Ill.-based MACK Companies.

Eric Workman

 “Before establishing MACK, I spent 16 years acquiring land and building new homes. For me, it is very exciting to once again deliver quality homes to a market that is prime for new residential product. This project is a perfect extension of our core business and continues our mission to raise the quality of life of our customers, whether they are renters or homeowners.”

 The project will be developed under MACK Estates, a division of MACK specializing in for-sale properties – both redeveloped luxury foreclosed homes and ground-up construction. MACK Estates was established in 2012, when the firm acquired more than a dozen foreclosed luxury single-family homes that it redeveloped and sold.

 “Given Chicago’s lack of quality for-sale inventory, there is no denying the pent-up demand for new construction in the market, and we’re starting to see it really accelerate with the addition of new households,’” said Eric Workman, vice president of sales for MACK Companies.

“MACK is committed to providing affordable single-family home options with the latest amenities near quality schools in strong communities. We are well-positioned as a company to seize the opportunity the market is giving us, while continuing that commitment with large-scale developments such as Fay’s Point.”

For more information on Fay’s Point, call 630-408-5582.

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

Mark Thomton,

mthomton@taylorjohnson.com,

312-267-4523

www.mackcompanies.com

Apartment Property in Everett, MA Sells for $1.2 Million

  

                                   765 Broadway apartments, Everett, MA

FRAMINGHAM, MA, May 21, 2013 – Investment sales broker Northeast Private Client Group has announced the sale of 765 Broadway, a 13-unit apartment building in Everett, Massachusetts.  

Christopher Donato

Christopher Donato, a licensed associate in the firm’s Framingham office, represented the seller and the buyer in the $1,200,000 transaction, which closed on May 8th.

 “High occupancy and growing rents in the Boston area are driving strong demand for multifamily properties,” notes Donato.  “This Everett asset is well positioned to benefit from the ongoing rehabilitation of the Everett submarket.” 

The city of Everett is implementing a targeted master plan focusing on the rejuvenation of the Broadway corridor, with significant emphasis on the strengthening of Everett Square, new transportation stations, pedestrian friendly improvements, and expanded retail. 

The seller, Hamlin Realty Trust, based in Stoneham, Mass., was the long-time owner of 765 Broadway and hired Northeast Private Client Group to exclusively market the property. 

The buyer, BK Realty Management of Newton, Mass., is focused on long-term, stable cash-flowing real estate assets.  The purchase price equates to $92,308 per unit, and represents a capitalization rate of 7.4 per cent on proforma 2013 net operating income.

"Qualified investors continue to compete for Boston-area multifamily assets," explains Edward Jordan, JD, CCIM, the firm’s managing director.  “With this Everett assignment, we were able to source the buyer and close the transaction within ten weeks of listing.

Edward Jordan

 Founded in 2010 by Edward Jordan, Northeast Private Client Group supports real estate investors with offices in New York, Connecticut and Massachusetts. 

 The firm specializes in representing owners of income producing properties, and supporting those who invest and sell property in the commercial and multifamily sectors across a region that stretches from New York to Boston.  

Jordan holds the Certified Commercial Investment Member (CCIM) designation and has served on the board of directors of CCIM.

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

Rick Leonard

RCL Communications

rleonard81@gmail.com

203.434.7734

PM Hospitality Strategies Expands West Coast Presence

                        

                                     Homewood Suites by Hilton Oakland Waterfront.

            WASHINGTON, D.C., May 20, 2013—PM Hospitality Strategies (PMHS), a leading hotel management company, today announced that it has expanded its West Coast presence with the addition of a management contract to operate the Homewood Suites by Hilton Oakland Waterfront. 

The property brings to four the number of hotels that the company manages or asset manages on the West Coast.

“Our management team has extensive experience operating and developing properties on the West Coast,” said Joseph Bojanowski, PMHS president. 

“This new contract marks a major new commitment for PMHS to expand our West Coast managed portfolio.  This hotel also brings another new institutional investor to our portfolio, a key component of our growth.  We now represent seven institutional investors and seek to add several more by year-end.” 

Bojanowski said that PMHS has a proven track record in operating the Homewood Suites brand, with this hotel being the fifth Homewood in the company’s current management portfolio.

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

Chris Daly, Jerry Daly media

(703) 435-6293

chris@dalygray.com

Wyndham Hotel Group Introduces Two Hotel Brands Into Singapore Days and Ramada Brands to be represented at Zhongshan Park

                                           Ramada Singapore at Zhongshan Park rendering

HONG KONG (May 20, 2013) – Wyndham Hotel Group, the world’s largest hotel company with over 7,380 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), today announced the company’s entry into Singapore with the opening of two properties: Ramada Singapore at Zhongshan Park and Days Hotel Singapore at Zhongshan Park.

                                      Days Hotel Singapore rendering at Zhongshan Park.

 Both hotels, now opened and managed by Wyndham Hotel Group, are located at Zhongshan Park, the newest development area in Singapore, and are part of an integrated development that includes a commercial tower and shopping mall.  Zhongshan Park is a fundamental component of Singapore’s Identity Plan to rejuvenate the Balestier area and illustrate the culture and history of Singapore.

Duane Elledge

 “Wyndham Hotel Group is proud to be part of Singapore’s development plan for the Balestier area,” said Duane Elledge, executive vice president and managing director of Wyndham Hotel Group in Asia Pacific. “With nearly 650 hotels in the region, these new properties further illustrate our commitment to growing our footprint and showcasing the exceptional services that we provide.”

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

Joy Gulledge

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ  07054

(973) 753-6590

joy.gulledge@wyn.com

Berger Commercial Realty Announces New Lease Transaction in Fort Lauderdale, FL

FORT LAUDERDALE, FL (May 20, 2013) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced a new lease transaction from brokers Keith Graves, St. George Guardabassi and Greg Milopolous.

Greg Milopoulos

 Graves and Guardabassi represented Schaefer Industrial in a three-year lease of 8,000 square feet of warehouse space, located at 3336 SW 13th Avenue in Fort Lauderdale, to SGA Holdings LLC, represented by Milopoulos

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Condo Comeback: 5 New Projects Proposed For Greater Downtown Miami

                            Crimson Residences rendering, Downtown Miami, FL

MIAMI, FL -- With at least 133 new condo towers already proposed for South Florida, developers have announced five additional projects in Greater Downtown Miami as the tri-county real estate market shows signs of recovering from the dramatic downturn of 2007, according to a new report from CondoVultures.com.

                                   Le Parc at Brickell condos rendering, Downtown Miami, FL

The newly proposed condo towers - Crimson Residences (exclusively listed by the licensed Florida real estate brokerage Baker-CVR LLC) , Le Parc At Brickell, an unnamed project on the former Element condo site, an unnamed project on the former ICE condo site, and an unnamed project on the former Platinum II condo site - come at a time when developers are now proposing at least 25 new towers with more than 8,300 condo units in Greater Downtown Miami, according to the Cranespotters.com Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

                                Former Platinum II condo site rendering, Downtown Miami, FL

Overall in South Florida, developers are now proposing more than 18,500 units for the tricounty region of coastal Miami-Dade, Broward, and Palm Beach as of May 16, 2013, according to Cranespotters.com.

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

Condo Vultures® LLC

225 Midtown Building  

225 NE 34th St.,

 Suite 209B,

Downtown Miami, Florida, 33137.

800-750-0517.

J.P. Guzzardo Promoted to Vice President of Development at the Sembler Co.

J.P. Guzzardo

ST. PETERSBURG, FL -- The Sembler Company announces the promotion of John Paul (J.P.) Guzzardo to the position of Vice President of Development. Guzzardo will be leading the Build to Suit department within the Continental United States market focused on ground up development projects, in addition to building key relationships with top tier clients.

Previously, Guzzardo held positions as Real Estate Manager and Director of Real Estate for The Sembler Company. Guzzardo has been with the

company since 2007.

Ron Wheeler

Guzzardo brings over 11 years of commercial real estate experience to this position. He began his career as a Commercial Real Estate Underwriter and Lender at Amsouth Bank and then moved on to become an Acquisitions Director for a regional homebuilder. In 2007,

 Guzzardo joined The Sembler Company as a Real Estate Manager and then advanced into the role of Director of Real Estate.

“The Build to Suit department is one of the cornerstones of our development business and JP’s guidance and vision will be invaluable,” says Sembler CEO Ron Wheeler. “He has proven himself as a leader within the team and out in the field, establishing a solid reputation for our company.”

NAI Realvest’s Mary Frances West Ranks Among Region’s Top 10 Office Leasing Associates in CFCAR 2013 Hallmark Awards

                                                       Mary Frances West

Maitland, FL --- Senior Broker Associate Mary Frances West at NAI Realvest in Maitland garnered accolades as one of the region’s Top 10 Office Leasing Associates during the recent Central Florida Commercial Association of Realtors (CFCAR) Hallmark Awards.

Paul P. Partyka

Paul Partyka, managing partner at NAI Realvest, said West joined NAI Realvest seven years ago and consistently ranks among the area’s top commercial office professionals. She has been a commercial real estate broker for 18 years.

West earned her Hallmark Top Ten award for posting office property lease and sale transactions that totaled more than $15.8 million in 2012.

 “Mary Frances West is one of the most highly experienced office specialists in the Central Florida region and she is at the top of her game now,” Partyka said.

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

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

NAI Realvest Negotiates Office Lease Agreements totaling 6,552 square feet at Centers in Orlando, Maitland and Winter Park

                             Lake Underhill Business Center, Orlando, FL

MAITLAND, FL --- NAI Realvest recently negotiated a four lease agreements for a total of 6,552 square feet of office space at centers in Orlando, Maitland and Winter Park.

Mary Frances West

 At Gateway Plaza, 1201 S. Orlando Ave. in Winter Park Tom R. Kelley II, CCIM, a principal in the firm, Senior Broker Associate Mary Frances West, CCIM and Associate Chris Adams negotiated a lease for suite 200 with 2,798 square feet representing Landlord Gateway Plaza LLC.    Closson Insurance Agency is the new tenant who was represented by Craig Castor of Cresa Orlando. 

Tom R. Kelley II

 At the Lake Underhill Business Center, Kelley brokered a lease on behalf of the landlord, Harrington/Mishler LLC for 2,100 square feet at 11547 Lake Underhill Rd. where Summit Chiropractic LLC is the new tenant.

At 2200 Lucien Way in Maitland Center, West and Kelley negotiated a new lease for suite 320 with 656 square feet representing Landlord Alliance Lucien Way of Warrington, Pa.  The new tenant is BEFREE Enterprises, Inc. d/b/a Frank Reynolds & Company. 

Chris Adams

 Kelley and Adams negotiated a renewal agreement with America Integrity Insurance, LLC, the tenant in suite 142 with 998 square feet at Plaza Central, 6220 S. Orange Blossom Trail in Orlando.

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

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

NAI Realvest Negotiates Five Office Leases totaling 6,361 Square Feet at Plaza North in Altamonte Springs, FL

                                 Plaza North, Douglas Avenue, Altamonte Springs, FL

MAITLAND, FL--- NAI Realvest recently negotiated five lease agreements for office suites totaling 6,361 square feet in Plaza North on Douglas Avenue in Altamonte Springs.  

Tom R. Kelley II

 NAI Realvest principal Tom R. Kelley II, CCIM and Associate Chris Adams brokered all five transactions on behalf of the landlord.    Four tenants that renewed their occupied space in Plaza North include

• ·        Life Care Home Health Services, LLC, with 1,720 square feet in suite 2200 at 385 Douglas Ave., 
• ·        Patriot Home Funding, Inc. with 1,754 square feet in suite 2500,
• ·        American Eagle Irrigation, with 1,643 square feet in suite 6005 at 405 Douglas Ave. and
• ·        G & P Association Services, LLC, with 849 square feet in suite 1105 at 445 Douglas Ave.

 The new local tenant who leased 395 square feet at 455 Douglas Ave., suite 2255B  at Plaza North is L’Eveil Massage, LLC. 

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

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

Marcus & Millichap Capital Corp. Names R. John Wilcox Vice President

R. John Wilcox II

NEWPORT BEACH, CA –Marcus & Millichap Capital Corporation (MMCC) has named R. John Wilcox II as vice president, according to William E. Hughes, MMCC’s senior vice president and managing director.

Based in the firm’s Manhattan office, Wilcox will assist in managing MMCC’s day-to-day operations with a specific emphasis on growing its East Coast debt and equity platform.

 His mandate is to assist the firm’s loan originators in developing and expanding their business and to recruit additional professionals to grow existing teams and staff new offices. 

William Hughes

 Wilcox will work with MMCC’s professionals to arrange debt and equity transactions for all types of commercial real estate.

“John’s management background and capital markets expertise, combined with his institutional background, will support the significant expansion of MMCC’s business lines,” says Hughes.

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

Ben Johnson

 Marketing Director

(925) 953-1736

Hot Trend Continues in Commercial Real Estate

Family Dollar store, 951 Doyle Road, Deltona, FL

 Naples, FL -- An interest rate environment that has propelled the commercial real estate market to levels not seen since 2007 has continued to show no signs of slowing down, according to David Wells, head of Wells Net Lease Group. Evidenced by the sale of a Family Dollar located in Deltona, FL by a Midwestern private equity fund.

David Wells

The property contains 9,600 square feet located at 951 Doyle Road, Deltona, FL 32725. The purchase price was 1,700,000 and the cap rate was 7.75. The property has a new 10 year lease with a rare 10% increase in year 5.

  

The seller is one of the nation’s largest developers and was represented exclusively by Wells Net Lease Group, Inc.

“Investors have been making low yields in safe treasuries and bonds for too long waiting for the market to turn, says Wells. “At some point you have to move on and adjust to the new conditions.”  

He says Wells Net Lease Group is the largest private net lease brokerage company in the nation.

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

David Wells :

david.wells@wellsnetlease.com

305.498.6095

www.wellsnetleasegroup.com

Invest Atlanta Approves Grant for ExactTarget to Expand Atlanta Presence; Move Will Create Up To 225 Jobs

  

Mayor Kasim Reed

ATLANTA, GA— The board of Invest Atlanta approved a grant of up to $200,000 from the Economic Opportunity Fund as part of a joint effort with the Georgia Department of Economic Development to facilitate an expansion of ExactTarget in Buckhead.

Headquartered in Indianapolis, ExactTarget is a leading global provider of cross-channel digital marketing solutions. The expansion of its Pardot Marketing Automation Team is expected to create up to 225 new jobs. The total expected private investment is expected to be at least $1.25 million.

 “Today’s announcement further proves that Atlanta is a great city for technology growth,” said Mayor Kasim Reed. “Atlanta will provide the diverse talent pool and growing culture of innovation that ExactTarget needs to expand their operations. We look forward to welcoming them to our great city.”

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

 Patti Ghezzi

The Wilbert Group

404-290-1996 

pghezzi@thewilbertgroup.com

http://investatlanta.com

Wyndham Hotel Group’s Terry Sanders Appointed to LHRA Board of Directors

PARSIPPANY, N.J. (May 17, 2013) - Terry Sanders, senior vice president of development for Wyndham Hotel Group, has been appointed to the board of directors of the Latin Hotel & Restaurant Association (LHRA), an organization that supports the business interests of Latino owners, operators and developers in the hospitality industry.

Sanders, a 16-year veteran of the development and franchise sales industry, plays a key role in the growth of Wyndham Hotel Group’s U.S. portfolio of hotels with a primary focus on enhancing the company’s midscale and upper-midscale presence. 

He joined Wyndham Hotel Group in 2002 and has since served in a variety of sales and development roles, including director of development, regional vice president and vice president of new construction.

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

Gabriella Chiera

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

+1 (973) 753-6590

gabriella.chiera@wyn.com