Wednesday, November 13, 2013

Colliers Chosen to Lease Cutler Bay Town Center Building in Cutler Bay, FL

Cutler Bay Town Center, 10720 Caribbean Boulevard, Cutler Bay, FL

Donna Abood
MIAMI, FL - The Town of Cutler Bay has hired a team of brokers led by Donna Abood, Founding Partner and Chairman of Colliers International South Florida, consisting of Matthew Anderson, office leasing consultant and Ericka Witkowski, commercial associate, to lease the 75,000-square-foot Class B office building it owns at 10720 Caribbean Boulevard in Cutler Bay, Florida.

Available spaces range from 600 square feet to more than 17,000 contiguous square feet.

"The Cutler Bay Town Center is situated in a dynamic and unique market where multiple residential and commercial projects are currently underway," said Colliers broker Matthew Anderson.

"This construction and development activity confirms the Town's commitment of providing both its residents and consumers an attractive place to live, work, and play." 


Tenants of Cutler Bay Town Center enjoy 24-hour security (Town's Police Headquarters located on the second floor), 24-hour air conditioning, electric car charge outlets, ample lit parking, and emergency generator in the event of unforeseen power outages.


Ericka Witkowski
The Town's Police, Building and Zoning, Administrative and other Departments are located in the same Office Building, making the location ideal for professional service industries such as attorneys, CPAs, and training/educational enterprises.

The Town recently passed Legislation that allows for schools to operate in the Town Center Zoning District. This Legislation creates an opportunity for universities and career colleges to establish a presence in the Town's emerging commercial market.

Located within feet of U.S. 1 and Florida's Turnpike with both northbound and southbound exit/entry ramps, the Cutler Bay Town Center is an ideal location that is centrally located for commute-weary professionals who value their time and reside in adjacent neighborhoods such as Pinecrest, the Falls, Palmetto Bay, and Cutler Bay.

Matthew Anderson
"It is the only building of this caliber in the area with spaces ready for immediate occupancy," said Anderson.

 "It is within walking distance of Southland Mall and many other retail, restaurants and hotels. Our team is enthusiastic about the opportunities this office building makes available to businesses that serve the residents of southern Miami-Dade County."

 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

Taylor & Mathis Continues Leasing Success at Venture Corporate Center in Hollywood, FL


Venture Corporate Center, Hollywood, FL

Donna Korn
Hollywood, FL -- Two technology firms have signed leases for 12,000 square feet  at Venture Corporate Center following the Hospital Physician Partners (HPP) 55,000 square foot renewal and expansion last month.

Donna Korn and Jennifer Patterson of Taylor & Mathis brokered the transactions on behalf of owner MetLife.

Mobile and web-based marketing platform Shooger (Mobile Promotions Network) leased 3,544 square feet.

The firm is relocating their headquarters to Hollywood, FL from offices in Coral Gables.   Shooger is a marketing technology company for local businesses. The Shooger platform delivers a one-stop-shop of Internet marketing services that includes email, web traffic, mobile punch cards, reputation management, directory listings and more. www.shooger.com

Jennifer Patterson
Health Benefits Center nearly tripled the size of their offices signing an 8,583 renewal which includes 6,358 in expansion space. 

HBCInsure.com is an online referral service and source of information for people seeking to learn more about their insurance options. The company also matches people in need of insurance services with insurance professionals who can provide those services. 

Taylor & Mathis, the exclusive leasing agent for Venture Corporate Center has executed 67,000 square feet of leasing this year at the office park which contains three office buildings each approximately 84,000 square feet.   The park is currently over 90% leased.

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

Donna Korn
(954)845-8840


HC Real Estate Capital Arranges $12.5 Million in Financing for Fractured Condominium Project in Coral Springs, FL and Naples, FL


Briar Landing at the Enclave Apartments, Naples, FL

CORAL SPRINGS, FL and NAPLES, FL -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $12,500,000 in financing for Briar Landing at the Enclave (“BL”) and Palms Point at Coral Springs (“PP”). 

Combined, there are 280 units that are 98.5% occupied.  HC Real Estate Capital utilized its relationship with the lender to create a structure that would allow the borrower to refinance their existing debt with a new 5-year loan.

Briar Landings at the Enclave is located in Naples, Florida and was built in 1990.  The project was converted to condominiums in 2006 and consists of 138 units within a 240-unit condominium community. 

Palms Point at Coral Springs is located in Coral Springs, Florida and was built in 2003.   The project consists of 142 units within a 377-unit condominium community. 

Chris Caveglia, Principal at HC Real Estate Capital stated, “Both properties are 98.5% occupied and offer resort style amenities and are in close proximity to schools, golf courses, restaurants and shopping.”  

Caveglia went on to say, “the loan structure allows the borrower to carry out the long term plan with both properties.” 

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

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

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273


Concord Hospitality Names Dean Thompson Executive Chef For Renaissance Raleigh Hotel

  
Renaissance Raleigh Hotel, Raleigh, NC


Chef Dean Thompson
RALEIGH, NC — Officials for Concord Hospitality Enterprises, one of the top-ranked hotel operators in North America, today announced the promotion of Dean Thompson to executive chef for the Renaissance Raleigh Hotel, in the company's headquarters of Raleigh, N.C.  Previously, Thompson served as the hotel's executive sous chef, under Dean Wendel, Concord's recently appointed corporate director of food and beverage.

Thompson is a Johnson & Wales University graduate and native of nearby Cary, N.C., where he developed an appreciation for the finer points of southern cuisine, which has catapulted him to the top of his craft. 

Earlier this year, Thompson and his team won the 2013 "Fire in the Triangle" championship.  He will compete for the Top Chef of North Carolina title November 20 through 23 when the best chefs in the state converge on the Renaissance Raleigh Hotel for the competition dining series, Final Fire.

Dean Wendel
"Chef Thompson helped open the hotel and establish its restaurant, Flights as one Raleigh's most vibrant dining rooms to celebrate regionally-inspired cuisine," said Wendel. 

 "He has a passion for great food, an impressive culinary pedigree and an authentic perspective on the culinary traditions that are his heritage. 

" He's the perfect choice to lead the food and beverage effort at this exceptional hotel and the team that serves it." 

Prior to opening the Renaissance Raleigh, in 2008, Thompson was the sous chef for the Hope Valley Country Club.  Previously, he served under Chef Jules Ramos at Mills Tavern, at the time rated one of the "75 Hottest Tables from Boston to Beijing" by Conde Nast Traveler and The Boston Globe.  During college, he worked at Mediterraneo Caffe under Chef Gianfranco Campanella.

Chef Jules Remos

            "Because we have some of the best stewards of some of the richest farmland right at our doorstep, we're able to showcase North Carolina's bounty and culinary traditions in a way that rings true for local guests, but is also up-to-the-minute for the visitors coming to Raleigh from all over the world," said Thompson. "With every meal and every banquet, we're able to shed new light on southern cuisine and southern hospitality."

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

Lauralee Dobbins
(703) 435-6293



CBRE Closes 1,596-Unit Florida Apartment Portfolio


Part of CBRE"s 12-property portfolio apartments sale in Central Florida

ORLANDO, FL -- Our CBRE Florida Multi-Housing Group is pleased to announce that is has sold an apartment portfolio totaling 1,596 units among twelve properties in Orlando, Daytona Beach, Deland, Orange City, and Jacksonville. 

Wingwood Apartments, Orlando, FL

The assets sold include: Wingwood, Sky Pines, and Branchwood in Orlando; Applewood in Deland; Oak Shade in Orange City; Nova Glen, Nova Wood, Countryside, and Volusia Crossing in Daytona Beach; and Kings Crossing, Stonewood, and Pelican Pointe in Jacksonville.  Please see attached for more detail.

Shelton Granade, Luke Wickham, and Justin Basquill of CBRE’s Orlando office and Brian Moulder and Dhaval Patel of CBRE’s Jacksonville office exclusively represented the seller in the transaction.

Sky Pines Apartments, Orlando, FL
All 12 assets sold to an Atlanta-based owner/operator. The properties were built in the early 1980s, and feature mostly studio and 1-bedroom apartment units. The communities were 92% occupied on average at closing.

 CBRE’s Central Florida Multi-Housing Group continues to be the market leader, and has closed more than $593,000,000 in apartments sales in the Orlando MSA thus far in 2013. 


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

Shelton D. Granade, Jr.,
 Executive Vice President
CBRE | Investment Properties - Multihousing
189 S. Orange Avenue, Suite 1900 | Orlando, FL 32801
T 407 839 3103 F 407 404 5001


Tuesday, November 12, 2013

Coldwell Banker Commercial Saunders Real Estate Brokers $565 Million Land Contract for 382,834 Acres in Florida Panhandle


Florida Panhandle Timberland
Dean Saunders
LAKELAND, FL, Nov. 12, 2013 -- Dean Saunders, ALC, CCIM and Jack Vogel of Coldwell Banker Commercial Saunders Real Estate in Lakeland, Florida have facilitated the sale agreement on behalf of their buyer, AgReserves, Inc. a tax-paying affiliate of The Church of Jesus Christ of Latter-Day Saints.

Jack Vogel
 The sale agreement is for $565 million for 382,834 +/- acres of timberland in the Florida panhandle. The land is currently owned by the St. Joe Company.

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

CBC Saunders Ralston Dantzler
114 N. Tennessee Ave.
3rd Floor
Lakeland, FL 33801
PH: 877.518.LAND

Prestigious Law Firm Moving to Museum Tower in Miami's Legal District


Museum Tower, 150 West Flagler Street, Downtown Miami, FL

Adam Beighley
MIAMI, FL – The distinguished law firm of Beighley, Myrick & Udell will relocate within Miami's legal district, selecting the premier Museum Tower as its new address for the long term.

The 15-year-old firm has leased 4,830 sf on the 20th floor of the 29-story, class A office tower at 150 W. Flagler St., owned by Dallas-based Gaedeke Group LLC. The law firm will occupy the new office in late winter, relocating in tandem with its lease expiration at 66 W. Flagler St.

"This decision was based on the quality of the building, the efficiency of the space and the availability of parking," says Adam Beighley, one of the partners and founders of the firm, which also has offices in Boca Raton and Pompano Beach.

The 234,104-sf Museum Place has a four-level parking garage, with valet service, for tenants and visitors. It's also just steps from a Metrorail station and directly across the street from the Miami-Dade County Courthouse.

Kirk Fetter
The law firm's search began six months ago.

 "We had two geographical choices. We decided we wanted to stay downtown and near the courthouse," Beighley says. "Because there are so few class A buildings in the district, it ultimately got to the point of which office did we want in Museum Tower."

The winning space was a 20th floor suite, with views of the water from one side and the Miami Marlins' baseball stadium on the other.

Among the perks of relocation is access to the high rise's best-in-class amenities, such as a 3,500-sf fitness center with 24/7 access, video conferencing, the Mindy Wu restaurant, retail bank and concierge service.

Russell Bornstein
"Museum Tower is a great building in terms of quality, location and image," Beighley says, "and it can handle our future growth." 

Representing Gaedeke was its vice president of leasing, Kirk Fetter. Russell Bornstein of CBRE negotiated on behalf of the law firm.

Beighley, Myrick & Udell has nearly 20 attorneys in its three offices. Its specialty practice areas are general litigation, insurance, commercial real estate and transactions, construction and corporate law.

Miami Marlins Baseball Stadium
Gaedeke Group, founded in 1995, is a full-service real estate firm that provides investment, acquisition, management, leasing construction management and portfolio management services. 

Headquartered in Dallas, Gaedeke's current portfolio encompasses three million square feet of class A office properties in Arizona, Florida, Tennessee, Texas, Washington, D.C. and Germany.

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

Kirk Fetter, 561-835-0100

NAI Realvest Negotiates $455,000 sale price for cell tower on International Drive in Orlando, FL


International Drive, Orlando, FL

Paul Partyka
MAITLAND, FL  -- NAI Realvest recently negotiated the sale of a cell tower for $455,000.  The property is located on International Drive in Orlando.

 Paul P. Partyka, principal and managing partner at NAI Realvest brokered the transaction on behalf of the buyer, Land Leases LLC of Charlotte, N.C. and the seller, Southeastern Conference Association of Seventh Day Adventists, Inc.

                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 Two New Industrial Leases Totaling More Than 56,900 Square Feet in Apopka, FL


1715 South Orange Blossom Trail, Orlando, FL

Juan Jiminez
ORLANDO, FL --- NAI Realvest recently completed two new lease agreements totaling  56,916 square feet of industrial space on S. Orange Blossom Trail in Apopka.  

 Michael Heidrich, Sr., principal at NAI Realvest represented the landlord Kagan Orlando, LLC of Palm Coast in a lease agreement with Kroy Crofoot for 47,076 square feet at 1715 S. Orange Blossom Trail.   The local tenant was represented in the transaction by Wally Henderson of J. Wallace & Associates. 

 NAI Realvest Associate Juan Jimenez negotiated a new lease for 9,840 square feet in the industrial facility located at 1839 S. Orange Blossom Trail representing the tenant Apopka Estate Auctions, LLC.  The landlord is Weller Pool Constructors, Inc.

                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 Two Leases totaling 6,200 Square Feet at Hanging Moss CommerCenter in Orlando, FL

Hanging Moss CommerCenter, Orlando, FL

ORLANDO, FL – NAI Realvest recently completed two lease agreements for 6,200 square feet of industrial space at Hanging Moss CommerCenter in Orlando.

Michael Heidrich
Michael Heidrich, Sr., principal at NAI Realvest, negotiated both transactions representing the local landlord Hanging Moss SPE, LLC. 

 City Electric Supply Company is the new tenant who leased suite 570 with 4,200 square feet at 6100 Hanging Moss Rd.  City Electric was represented by Dave Axel of Axel Real Estate Inc.

 Carol Bradford Land Management Group, Inc. renewed its lease of suite 420 with 2,000 square feet at 6112 Hanging Moss Rd.   The tenant was represented by Danny Rice of Colliers International. 

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

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

Meridian Capital Group Arranges $19.5 Million in Acquisition Financing for a Four-Property Multifamily Portfolio Located in Houston, TX


Valencia at Springs Branch Apartments, 9550 Long Point Road, Houston, TX

Boca Raton, FL, Nov. 12, 2013,– Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $19.5 million mortgage for the purchase of four multifamily properties located in Houston, TX.

The five-year, non-recourse loan features a fixed-rate of 5.10% and was provided by a CMBS lender. This transaction was negotiated by Meridian Managing Director, Michael Brown, and Associate, Brad Beattie, who are located in the Company’s Boca Raton, FL office. 

The portfolio is composed of four properties totaling 984 units including: the 228-unit Valencia at Spring Branch Apartments located at 9550 Long Point Road, the 300-unit Pine Creek Apartments located at 470 Maxey Road, the 192-unit Forest Apartments located at 22820 Imperial Valley Drive, and the 264-unit Kirkwood Landing Apartments located at 9850 South Kirkwood Drive.

 “Meridian arranged this financing package prior to the full renovation and re-stabilization of the assets,” said Mr. Brown. “The sponsor acquired the debt, foreclosed on the loan and was well into the repositioning and lease-up of these assets at the time of this sale,” he added.

 “In addition to negotiating financing for the portfolio at this stage of its repositioning, Meridian was able to close the loan in 35 days from start to finish,” Mr. Beattie added.
  
                For a complete copy of the company’s news release, please contact:


Jonathan M. Stern
Managing Director
Meridian Capital Group, LLC
1 Battery Park Plaza, 26th Floor
New York, NY 10004
Direct: 212.612.0181
Fax: 212.201.5181

Charles Dunn Company Tapped by G.H. Palmer Associates to Market 95,300 Square Feet of Retail Space in Downtown Los Angeles


Downtown Los Angeles, CA luxury apartments

LOS ANGELES, Calif. November 12, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has been selected by G.H. Palmer Associates to market its portfolio of Downtown Los Angeles retail space.

Geoffrey Harrison Palmer
The available space totals 95,300 square feet and is situated on the ground floor of six luxury apartment projects spanning from Sunset Blvd. to the north, to Adams Blvd. to the south in locations just off the 110 Harbor Freeway.

The Charles Dunn leasing team includes Chris Runyen, Mark Takeichi, and Tracy Taft who are out of the firm’s Downtown Los Angeles headquarters.

“With an ever-increasing residential, business, and visitor population, Downtown LA currently has an unmet consumer demand for a wide variety of retail needs,” said Tracy Taft, director with Charles Dunn.

“The quality space that is offered in G.H. Palmer’s portfolio is poised to help meet that demand with locations situated in growing neighborhoods that are largely retail deficient.”

Chris Runyen
G.H. Palmer’s six high-end luxury apartment projects total 4,338 residential units. Two of the projects are currently under construction with delivery in 2014.

G.H. Palmer began making its investment in Downtown LA in 2003 with The Medici, its first residential/retail project. Over the years, as downtown has grown in population, its projects have attracted residents, bringing their occupancy to approximately 90 percent.

“We selected Charles Dunn to lease our retail portfolio because the firm is a proven market leader and we’re optimistic the leasing team will attract the right retailers to our buildings.  Being locally based in downtown was also a big plus—they can walk to our assets,” said Geoffrey Harrison Palmer, owner of G.H. Palmer.

Mark Takeichi
Palmer added: “Our properties offer an elegant resort-style experience for our residents and the retail component is not only an important amenity, but also a huge asset to the overall community. 

“This is an exciting time for G.H. Palmer Associates—our portfolio of mixed-use projects in Downtown LA is growing, and our unique retail space presents an opportunity to bring new and vibrant retailers into the market.”

Charles Dunn will seek to attract a diverse tenant mix of local, regional and national retailers throughout the various properties.

Tracy Taft
The properties in the portfolio include:

1.       The Orsini, 505, 550 & 606 North Figueroa Street. The property includes 1,073 apartment units and 42,562 square feet of available retail space.

2.       The Piero, 609-616 St. Paul Avenue. The property includes 825 units and 7,170 square feet of available retail space.

3.       The Da Vinci, 909 West Temple Street. Currently under construction with completion in 2014, the property will include 526 units and 10,255 square feet of available retail space.

4.       The Visconti, 1221 West Third Street. The property includes 297 units and 6,506 square feet of available retail space.

5.       The Medici, 722-725 South Bixel Street. The property includes 632 units and 6,897 square feet of available retail space.

6.       The Lorenzo, 325 West 23rd Street. Currently under construction with completion in 2014, the property includes 913 units and 27,366 square feet of available retail space.


The Piero Apartments, Downrtown Los Angeles

 The downtown area is continuing its trend of gentrification and revitalization. In a 2013 Downtown Los Angeles demographic study conducted by The Downtown Center Business Improvement District (BID), there are approximately 52,400 residents in the area, which is up six percent from 2011.

Additionally, there are 30,600 residential units – up 15 percent from 2011. Downtown also boasts a high median annual income of residents and its 500,000 daily employees at more than $98,000. There are also an estimated 10 million visitors to downtown per year.
 
                For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224


HFF names Andrew Scandalios co-head of New York office


Andrew Scandalios
NEW YORK, NY – HFF announced today that senior managing director Andrew Scandalios has been appointed head of the local New York City investment sales teams, and will assume the role of office head alongside senior managing director Michael Tepedino, who oversees the debt and equity placement teams.

                Mr. Scandalios has more than 23 years of experience in the commercial real estate industry and since joining HFF in 2001 he has closed more than $19 billion of commercial real estate sales for multi-housing, office, retail, hotel, land and industrial transactions in the New York City area.

Michael Trepedino
“This change is part of the New York office succession plan to provide growth opportunities to our valued employees and continue to provide ‘best-in-class’ service throughout our multiple business lines," said Mike Tepedino, senior managing director and co-head of HFF’s New York office. 

“Andrew has done a remarkable job building the New York investment sales practice for HFF New York over the past three years as our volume and market share has grown at a significant rate. 

“Since 2010, HFF’s investment sales volume in the New York City/Northern New Jersey region is up nearly 600 percent, a truly extraordinary accomplishment, and we have every expectation that under his leadership we will continue our rapid expansion in the NYC area,” added Tepedino.
  
                For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


$85 million financing secured by HFF for Long Island, NY power center


Roosevelt Raceway Center, Corporate Drive, Westbury, NY
 
NEW YORK, NY – HFF announced today that it has secured an $85 million financing for Roosevelt Raceway Center a 428,395-square-foot retail power center in Westbury, New York.

Robert Delitsky
                Working on behalf of the borrower, a joint venture of Mattone Group LLC and Gartenstein Properties, HFF placed the fixed-rate loan with New York Community Bank. 

Roosevelt Raceway Center is located along Corporate Drive in the Long Island suburb of Westbury.  Completed in 1995, the property is leased to tenants including Fairway Market, Home Depot, Michael’s, Babies “R” Us, Sprint, AMC Theatres, Applebee’s and Chili’s.

 Ownership recently oversaw the opening of Joe’s Crab Shack at the Center, its third restaurant location on Long Island.  In addition, PGA Tour Superstore will be opening its first store on Long Island this winter.  PGA Tour Superstore will occupy 44,000 square feet.

                The HFF team representing the borrower was led by managing director Robert Delitsky.


The Mattone Group is a Queens-based development company that currently owns and manages more than 2 million square feet of commercial property in the New York Metro area, Georgia and Florida.

Gartenstein Properties is a Brooklyn-based development and management  company with over 70 years of real estate experience.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Sale of ground lease for 106 natural gas drilling sites in the Barnett Shale in Texas closed by HFF


Natural gas drilling site in the Barnett Shale, North Texas


Mark West
DALLAS, TX – HFF announced today that it has closed the sale of a ground lease encumbering 106 urban natural gas drilling sites located in the Barnett Shale in North Texas, one of the largest producing onshore natural gas fields in the United States.

                HFF marketed the sites on behalf of the seller, Fort Worth, Texas-based 111 Realty Investor, LP, and procured the buyer. 

The sites were cross-collateralized and cross-defaulted under one single lease to Chesapeake Energy.

 The ground lease has 35 years of remaining lease term with five, five-year renewal options.

Coler Yoakam
Approximately 83 of the 106 sites have multiple producing wells in place today with future drilling opportunities on each of the properties for many years to come.

                The HFF team representing the seller was led by senior managing director Mark West and managing director Coler Yoakam.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com