FrontDoor Communities Breaks Ground on Freeman’s Point in James Island, SC

ATLANTA , GA– FrontDoor Communities celebrated the groundbreaking of Freeman’s Point, a 130 home community on 40 acres located just south of historic downtown Charleston in James Island, South Carolina.

Terry Russell

The master-planned community features a 1,000 linear foot waterfront park – accessible to every homeowner – that includes an amenities center, community dock, access to ecotourism and a series of walking trails all adjacent to Seaside Creek.

“At FrontDoor Communities, we deliver better homes through quality design,” said Terry Russell, CEO of FrontDoor Communities. “Not only will Freeman’s Point offer high-quality homes with thoughtful design, but the community’s walking trails, waterfront park and countless other outdoor amenities reinforce our objective to embrace the local community’s devotion to the outdoors by fostering an active lifestyle.”

Construction on the project is expected to begin later this year, and is estimated to bring hundreds of jobs to the local community over the next several years. 

James Island marshes, South Carolina

Homes will range in price from the upper-$300,000s and will be available in 2014. The site plan of the first phase and waterfront park design were both unveiled during the groundbreaking ceremony.

FrontDoor is developing Freeman’s Point in a joint venture with MiddleStreet Partners, an award-winning, Charleston-based residential developer.

Located close to top-notch schools, Freeman’s Point is FrontDoor’s third community in Charleston and the company’s first in desirable James Island.

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

Michael Phillips                                                                                                                     

404.996.0828                                                      

mphillips@frontdoorcommunities.com

www.freemanspoint.com

Joshua P. Guterman •The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0637  • M: 571-357-3624

www.thewilbertgroup.com

$100 million acquisition financing for Tower at Cityplace in Dallas, TX secured by HFF

Tower at Cityplace, 2711 North Haskell Avenue, Dallas, TX

John Brownlee

DALLAS, TX – HFF announced it has arranged $100 million in financing for Tower at Cityplace, a 1.3 million-square-foot, Class A office tower in Dallas, Texas.

                HFF worked exclusively on behalf of the borrower, Parmenter Realty Partners, to secure a loan through GE Capital Real Estate.  Loan proceeds were used to acquire the asset with a future funding component for leasing and capital expenditures.

                The Tower at Cityplace is located at 2711 North Haskell Avenue just north of downtown Dallas and visible from the North Central Expressway in Dallas’ Uptown District. 

The 45-story tower is 69 percent leased to tenants including Dean Foods, Lone Star/Hudson Advisors, AON Service Corporation and Headington Oil. 

Jim Curtin

The property features a 35,000-square-foot Larry North Fitness Center and Spa, 55,000 square feet of meeting room space, a 300-seat amphitheater, several dining options and direct access to the DART rail and McKinney Avenue Trolley service.

                The HFF team representing Parmenter was led by senior managing director John Brownlee and associate director Jim Curtin.

                Parmenter Realty Partners is a real estate investment, management and development company, headquartered in Miami, Florida, with regional offices in Dallas, Atlanta and Washington, D.C. 

Parmenter operates a series of institutional investment funds focused on the southeast, southwest and D.C. Metro regions of the U.S. 

The company is actively involved in the expansion of its portfolio in major markets, identifying and acquiring under-performing properties and utilizing its vertically-integrated platform to increase value on behalf of its investors.

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes 279-unit sale of Waterhouse Place in Beaverton, OR

 Waterhouse Place, 600 NW 158th Avenue, adjacent to Cornell Oaks Corporate Center, Beaverton, OR 

Ira Virden

PORTLAND, OR – HFF announced it has closed the sale of Waterhouse Place, a 279-unit, garden-style multi-housing community in Beaverton, Oregon. 

                HFF marketed the property on behalf of the seller, a joint venture between Guardian Real Estate Services and a value-added fund advised by UBS Global Asset Management.  A joint venture between Holland Partner Group and an affiliate of Heitman purchased the property free and clear of existing debt.

                Waterhouse Place is located at 600 NW 158th Avenue adjacent to Cornell Oaks Corporate Center and less than one mile from Nike’s world headquarters in Beaverton. 

Sean P. Deasy

Partially renovated in 2009, the complex features one-, two- and three-bedroom homes averaging 937 square feet each.  Community amenities include a nature trail and stream, two swimming pools, hot tub, 24-hour fitness center, barbecue and picnic area, and clubhouse.

                The HFF investment sales team was led by director Ira Virden, co-head of HFF’s national multi-housing investment sales group Sean Deasy, and senior real estate analyst Kerry Hughes.

Kerry Hughes

                “The community’s superb location near several corporate headquarters such as Nike, Intel, Tektronix and Columbia Sportswear combined with plentiful community amenities, such as the 92-acre Tualatin Hills Athletic Center, The Streets of Tanasbourne and Tanasbourne Town Center, made this property extremely attractive to investors,” commented Virden.

                Established in 1971 and headquartered in Portland, Oregon, Guardian Real Estate Services has evolved into a leading management, development and investment firm.

 The company offers a diversified real estate service platform including property management, investments, development and advisory services.  Guardian delivers custom solutions by offering a higher level of expertise, resources and creative capacity to develop a unique approach for each client. 

Founded in 2000, The Holland Partner Group is comprised of five operating companies focused on development of new communities, new construction operations, property management and redevelopment services in conjunction with investment and asset management. 

The services and resources provided by Holland allow its strategic alliance partners to invest in core, core-plus and value-added communities in the primary Western United States’ markets.

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes $7.043 million sale of Publix Plaza in Tifton, GA

 Publix Plaza, 620 Virginia Avenue North, adjacent to the Interstate 75 in Tifton, GA

Brad Peterson

ORLANDO, FL - HFF announced it has closed the sale of Publix Plaza, a 52,600-square-foot grocery-anchored retail center in Tifton, Georgia.

HFF marketed the property on behalf of the seller, TMall Development, LLC, an RCG Ventures related entity.  Publix Super Markets, Inc. purchased the unencumbered property for $7.043 million.

Publix Plaza is located at 620 Virginia Avenue North adjacent to the Interstate 75 in Tifton.

 Completed in 2012, the Publix-anchored center is 98.1 percent leased and is situated adjacent to Tifton Plaza, which includes tenants such as Belk, JCPenney, Bealls Outlet, JoAnn Fabrics, TJ Maxx and Carmike Cinemas.

Whitaker Leonhardt

The HFF team representing the seller was led by senior managing director Brad Peterson and real estate analyst Whitaker Leonhardt.

“Due to its location and its Tifton Plaza shadow anchor, Publix Plaza enjoys an extended trade area that spans more than 20 miles. With the nearest Publix being more than 45 miles away, customers are travelling considerable distances to visit the center,” commented Peterson.

RCG Ventures is an Atlanta‐based privately funded real estate investment group that: acquires shopping centers, buys distressed debt, and develops commercial real estate in the continental United States.

The company’s primary focus is acquiring and repositioning value‐add anchored shopping centers in secondary and tertiary markets.

 Founded in November of 2003, RCG Ventures has steadily grown its portfolio through direct investment in shopping centers. 

In addition, the company selectively enters into joint ventures with institutional partners and with owners in search of an equity partner.

Since inception, RCG has acquired 85 assets totaling approximately $500 million of Invested Capital. RCG's current portfolio includes approximately 66 assets in 20 states, and over 6.75 million square feet. 

Additional information about RCG Ventures can be found at www.rcgventures.com.

  

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HFF secures $145 million refinancing for The Mercato in Naples, FL

   

The Mercato, 9115 Strada Place,  along Tamiami Trail
(U.S. Highway 41) north of downtown Naples. 

WASHINGTON, D.C. – HFF announced it has secured a $145 million refinancing for The Mercato, a 456,000-square-foot mixed-use development in Naples, Florida.

HFF worked exclusively on behalf of the borrower, a joint venture between Madison Marquette Retail Enhancement Fund, Barron Collier Companies and The Lutgert Companies to secure a five-year, floating-rate bridge loan through managing director Dan Martin and senior relationship manager Andy McLay at GE Capital Real Estate.

The Mercato is located at 9115 Strada Place along Tamiami Trail (U.S. Highway 41) north of downtown Naples. 

Chris Drew

Completed in 2009, the lifestyle center consists of approximately 320,000 square feet of retail and approximately 136,000 square feet of office space. 

The 14-building development is more than 85 percent leased and includes retail anchors such as Whole Foods, Silverspot Theatre and Nordstrom Rack.

The HFF team representing the borrower was led by managing director Mark Remington, director Chris Drew and associate director Jordan Lex. 

“GE Capital performed flawlessly, generating a huge win for our clients and this trophy asset, providing financing critical to the continuation of the successful business plan at The Mercato,” said Remington.

Jordan Lex

Madison Marquette (MM) provides a full range of real estate services for over 20 million square feet of retail and mixed-use properties throughout the United States. 

The company specializes in enhancing the value of retail assets through an integrated approach to leasing, property management, marketing and development services. 

MM has offices located in Charlotte, Dallas, Ft. Lauderdale, Los Angeles, New York, Philadelphia, San Diego, San Francisco, Seattle and Washington, D.C.  For more information, please visit www.madisonmarquette.com.

Barron Collier Companies (BCC), which traces its roots to County Founder Barron Gift Collier, today is one of the largest diversified companies in Southwest Florida.  

Daniel Martin

In addition to the responsible development, management and stewardship of numerous land holdings nationwide, BCC counts among its business ventures extensive agricultural operations, commercial, retail and residential real estate development, and oil exploration and mineral management.

The Lutgert Companies is acknowledged as one of Southwest Florida’s pre-eminent real estate development and brokerage companies. 

 The Lutgert Companies is privately held and has holdings in Lutgert Insurance, Premier Sotheby’s International Realty, Premier Commercial Real Estate and Lutgert Title, LLC. 

 The company is currently developing properties in Florida and North Carolina.  The Lutgert Companies has been a member of the Southwest Florida business community for fifty years, and has more than 200 employees and 515 sales associates.

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

tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

Mortgage Bankers' Report Profiles Housing Future for Older Americans

  

Nadia Greenhalgh-Stanley

WASHINGTON, DC — The Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) released a new report entitled “A Profile of Housing and Health among Older Americans” authored by Professors Michael D. Eriksen of Texas Tech University, Gary V. Engelhardt of Syracuse University, and Nadia Greenhalgh-Stanley of Kent State University.

“The study found older Americans who own their homes are more financially secure and generally experience fewer impediments to good health than their peers who rent,” said Professor Eriksen.

  “Owning a home provides the single largest asset in most Americans’ retirement portfolios, while renters have far more difficulty modifying their living space to adapt to any of the myriad physical ailments that tend to affect older people. 

Gary V. Engelhardt

“Our report serves as a useful reference for all parties interested in the implications of housing on an aging society, a situation America now faces with large numbers of the Baby Boomer generation rapidly heading into retirement age.”

This new RIHA report examines the housing and health status of older Americans roughly a decade after the Commission on Affordable Housing and Health Facility Needs for Seniors in the 21st Century released its report detailing the challenges facing all levels of government and society in ensuring support for housing and health needs as the population ages.

 This latest study provides a profile of the housing, functional status and health status of the near old (individuals aged 55 through 64) and older Americans (aged 65 and older) using the most recent data available from the Health and Retirement Study, a joint product spearheaded by the National Institute on Aging and the University of Michigan.

Michael D. Eriksen

“Housing demand over the next decade will be significantly impacted by the aging of the U.S. population,” said Mike Fratantoni, Executive Director of RIHA, and Vice President, Research and Policy Development for MBA.

“Real estate finance must also evolve to meet these changing needs, whether older Americans age in place and continue to own their homes, or whether they rent,”

The principal findings are as follows:

• There were more than 47 million near old and older American households in 2010, of which 80 percent were homeowners.

• Housing is still the dominant asset in the portfolios of older Americans. 

Michael Fratatoni

Median housing equity for older American homeowners was $125,000; the median housing-equity-to-income ratio was 2.4:1; and 50 percent of the typical older homeowner’s portfolio was composed of housing wealth.

• 44 percent of older renters spend more than 30 percent of annual gross income on rent, which suggests that the availability of affordable rental housing is a concern for older Americans.  

• Older renters have almost double the number of limitations in their ability to conduct daily activities relative to homeowners. 

• 36 percent of older individuals have fallen in the last two years, and one-third of these have been seriously injured in a fall.  The likelihood of falls occurring rises steeply as housing quality declines.

• 31 percent of older Americans have residences that have special safety features.  13 percent have modified their home to be either more accessible or safer between 2008 and 2010.

• Approximately half of those reporting a home modification between 2008 and 2010 (7 percent) had associated out-of-pocket expenses.  The median out-of-pocket expenditure was $800; the mean expenditure was $2,260.

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

Shawn Ryan

sryan@mba.org

(202) 557-2727

This report, along with other RIHA studies, can be found at www.housingamerica.org.

RealtyTrac® Reports Institutional Investor Purchases Plummet Nationwide; Up in Georgia and North Carolina

Daren Blomquist

IRVINE, CA  — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its October 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annualized pace of 5,649,965,  a 2 percent increase from the previous month and up 13 percent from October 2012.

Despite the nationwide increase, home sales continued to decrease on an annual basis for the third consecutive month in three bellwether western states: California (down 15 from a year ago), Arizona (down 13 percent), and Nevada (down 5 percent).

The national median sales price of all residential properties — including both distressed and non-distressed sales — was $170,000, unchanged from September but up 6 percent from October 2012, the 18th consecutive month median home prices have increased on an annualized basis.

The median price of a distressed residential property — in foreclosure or bank owned — was $110,000 in October, 41 percent below the median price of $185,000 for a non-distressed property.

“After a surge in short sales in late 2011 and early 2012, the favored disposition method for distressed properties is shifting back toward the more traditional foreclosure auction sales and bank-owned sales,” said Daren Blomquist,vice president at RealtyTrac.

“The combination of rapidly rising home prices — along with strong demand from institutional investors and other cash buyers able to buy at the public foreclosure auction or an as-is REO home — means short sales are becoming less favorable for lenders.”

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

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Brittney Marin

949.502.8300, ext. 107

brittney.marin@realtytrac.com

Data and Report Licensing:

800.462.5193

datasales@realtytrac.com

Related Group Proposes 26th New Condo Tower In South Florida Since Crash

  

Hyde Beach Resort, Ocean Drive and Hallandale Beach Boulevard, Hollywood-Hallandale, FL 

Jorge Perez

   MIAMI, FL -- As the South Florida condo market rebounds from the devastating crash of 2007, Miami billionaire Jorge Perez of the Related Group - the tricounty region's largest vertical condo developer - is proposing a 26th new condo tower with a combined 6,300 units for the coastal tricounty region of Miami-Dade, Broward, and Palm Beach counties, according to a new report from CondoVultures.com. 

By comparison, the Related Group developed 24 new condo towers with more than 9,125 units in South Florida's seven largest coastal markets during the last boom-and-bust cycle that began in 2003, according to the Condo Vultures® Official Condo Buyers Guide™ series.

For its newest South Florida condo project during this latest cycle, the Related Group is proposing to develop the Hyde Beach Resort, a 41-story tower with a combined 407 condo and condo-hotel units on an 1.6-acre site at the intersection of Ocean Drive and Hallandale Beach Boulevard in the Hollywood / Hallandale Beach market of Southeast Broward County between Greater Downtown Miami and Downtown Fort Lauderdale, according to marketing literature.   

Back in March 2012, an Aventura development company announced it had the property under contract and planned to build a 40-story tower with 477 condo-hotel units - to be called the Beach One Resort - on the site, according to a CondoVultures.com report.  

With the new Related Group project, developers are now proposing at least 13 new towers with nearly 1,650 condo units in the Hollywood / Hallandale Beach market that stretches from the Miami-Dade County line north to Sheridan Street, and the Atlantic Ocean west to Federal Highway as of November 22, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

 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.

Manhattan Construction Co. Completes 10-Story Parking Garage in Downtown Atlanta for the State of Georgia

State of Georgia's parking garage adjacent to Georgia State Capitol

Matthew Widmaier

ATLANTA, GA (Nov. 25, 2013) – Manhattan Construction Co. has completed work on a $22 million, 447,193-square-foot parking garage adjacent to the Georgia State Capitol.

The 10-story structure, which is owned by the state of Georgia for the use of its employees, features 1,169 parking spaces — 236 of which are reserved for state legislators — and two helipads.

 The garage, which is on the former site of the Georgia Department of Transportation headquarters, opened this month.

Barton Plunkett

 Matthew Widmaier, a project manager in Manhattan’s Atlanta office, oversaw the construction of the facility. Stevens & Wilkinson designed the parking garage.

 “We are proud of our efforts in creating this great addition to the Capitol area,” said Barton Plunkett, a senior vice president for Manhattan who oversees the firm’s Atlanta office. “This garage will serve the state well for years to come.”

When Laurence H. Rooney founded what is now Manhattan Construction Group in Oklahoma Territory in 1896, he built his business and reputation for trustworthiness and dependability through consistent performance. These same timeless values have enabled Manhattan to grow and prosper into one of the most respected construction firms in the nation.

Laurence H. Rooney

The firm’s operating companies are Manhattan Construction Co., Cantera Concrete Co. and Manhattan Road & Bridge. Manhattan is recognized by Engineering News-Record as a top 20 U.S. domestic builder and in last two years has received 50+ industry honors forquality and safety.

The company’s services include Builder-Driven Pre-Construction®, construction management, general building, design-build and turn-key projects, and roads, bridges and civil works. The company works in the U.S., Mexico, Central America and the Caribbean.

For more information aboutManhattan, please visit: www.manhattanconstructiongroup.com or connect with us on twitter @ManhattanBuild, via Facebook/ManhattanConstruction and on LinkedIn.

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

Stephen Ursery

The Wilbert Group

404.549.7150 – office

404.405.2354 – cell

sursery@thewilbertgroup.com

Commercial Real Estate Veteran Ruth Hughes Joins Hartman Simons Law Firm in Atlanta, GA

  

Ruth Hughes

 ATLANTA, GA Nov. 25, 2013 – Ruth Hughes, whose career includes stints as an executive with a national financial consulting firm and one of the nation’s largest commercial real estate investment firms, has joined the Hartman Simons & Wood law firm as an associate.

Hughes was previously a senior vice president of litigation and investigative services in the Atlanta office of Mesirow Financial Consulting, a full-service financial and operational advisory firm. Before her three-year tenure at Mesirow, she was a vice president at Atlanta-based Jamestown, a real estate investment and management firm.

“Ruth brings an invaluable combination of career experience to our firm,” said Summey Orr, managing partner of Hartman Simons. “At Mesirow, she became extremely well versed in a whole range of financial matters important to the commercial real estate industry, and her time at Jamestownwill give her tremendous insight into the needs of our clients and enable her to establish a great rapport with them.”

Summey Orr

A 2011 graduate of the Georgia State University College of Law, she earned her law degree while working full-time. She is a member of the Georgia Bar Association’s Law School Outreach Committee and graduated with a Bachelor of Arts in political science from Jacksonville State University.

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

Stephen Ursery

The Wilbert Group

404.549.7150 – office

404.405.2354 – cell

sursery@thewilbertgroup.com

  

http://www.hartmansimons.com

http://hartmansimons.typepad.com.

McCarthy Building Companies Hires Michael W. Benford as Director of Business Development for Commercial Projects

Michael W. Benford

NEWPORT BEACH, CA –McCarthy Building Companies, Inc., one of California’s preeminent builders, recently hired Michael W. Benford as business development manager, commercial services for the firm’s Southern California Division.

Based in McCarthy’s Newport Beach office, Benford will lead the initiatives for the commercial business unit, focusing on Fortune 500, entertainment, transportation, science and technology and other markets in the commercial building sector. 

Benford has over five years of construction industry experience in roles ranging from project engineer to business development.  Prior to joining McCarthy, he served as business development manager for another large, national general contracting firm. 

“Mike is a great addition to our team as McCarthy continues its momentum and growth in the commercial market,” said Jim Madrid, McCarthy vice president, business development.

 “He will apply his construction industry background to focus on new opportunities in the Los Angeles market including entertainment, parking structures and the many mixed-use projects developing from the rebounding economy.”

James Madrid

A resident of Rancho Santa Margarita, Benford has bachelor’s degrees in communication and psychology from the Dornslife College of Arts, Letters and Sciences and a minor in business management from Marshall School of Business at University of Southern California. 

He serves as a board member for the Irvine Chamber of Commerce and is an active member of the Society of Marketing Professionals and Design Build Institute of America.  

   

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

 Laura Mickelson (LM Communications) Lauramickelson@cox.net; (949) 453-0851            

Susan Garritano (McCarthy Building Companies, Inc.)  Sgarritano@mccarthy.com; (314) 968-3300 

www.mccarthy.com.

        

ZipRealty Study Finds West Coast Metros Buck the Trend in Median Home Sales Price Growth

Lanny Baker

EMERYVILLE, CA– ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the nation’s most prominent online technology-powered residential real estate brokerage firm and real estate marketing solutions provider, has released a new Housing Trends Report, which points to a less-frenzied real estate market compared to last spring.

While the median sales price of $267,215 at the end of October was 14.2% higher on a year-over-year basis, the ZipRealty report indicates that across markets, prices are moderating, the inventory of homes has started to increase and sold-to-list price ratios are trending downward.

However, Sacramento, Las Vegas, the San Francisco Bay Area and Phoenix were the strongest local markets at the end of October, as median sales prices in these metros have increased over the past 30 days, bucking the seasonal trend seen in the overall averages.

Leading Metros for Price Growth

Metro Area	Median Sales Price as of Oct. 31	Year-Over-Year Growth
1.Sacramento	$245,700	37%
2.Las Vegas	$172,100	32%
3.San Francisco Bay Area	$570,000	31%
4.Los Angeles	$352,000	25%
5.Orlando	$142,000	24%

Housing inventory was 382,873 at the end of October 2013, 10% fewer homes for sale than in October 2012.

“Throughout 2013, tighter inventory has contributed to rising home sales prices as eager buyers have competed for a relatively scarce supply of homes. Inventory levels tightened during October 2013, starting the month at 386,500, based on the 10/15/13 Housing Trends Report, and ending the month at 382,873 homes,” explained Lanny Baker, ZipRealty’s CEO and President.

”However, that 1% decline in inventory during October 2013 compares to a 5% decline during the same time frame last year. In other words, the trend in inventory levels points to more supply coming on − and staying on − the market.”

Metros with the Greatest Rise in Inventory

Metro Area	Inventory as of Oct. 31	Year-Over-Year Growth
1.Tucson	5,568	21%
2.Sacramento	8,166	18%
3.Las Vegas	9,599	15%
4.San Diego	6,660	14%
5.Phoenix	21,566	5%

“Sold to-list-price ratios also seem to reflect a slight increase in supply, signaling the beginning of a less-frenzied market, though the average across metros in ZipRealty’s study was still a selling price equal to 98.7% of the listing price.

“ Earlier this year, the ratio hit 100%, a very unusual sign that highlighted a significant imbalance of buyers vs. sellers. Even in October, one-third of the metros analyzed show sold-to-list price ratios of 100% or more,” stated Mr. Baker.

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

Stacey Corso
510.735.2667
scorso@ziprealty.com

NAI Realvest Negotiates Two New Leases at South Park Business Center and Two Renewals at Plaza Central in Orlando, FL

South Park Business Center, 8600 Commodity Circle, Orlando, FL

Tom R. Kelley II

ORLANDO, FL – NAI Realvest recently negotiated two new leases and two renewal leases all totaling 8,258 square feet at industrial and office centers in Orlando

 Tom R. Kelley II, CCIM, principal at NAI Realvest, brokered two new industrial leases on behalf of Miami-based South Park, LLC, the landlord of the South Park Business Center, a flex, office and warehouse center at 8600 Commodity Circle in Orlando. 

 The new tenants are Advanced Cockpit Solutions, LLC of Miami, leasing Unit 113 with 2,218 square feet and Orlando-based Sunlight Enterprises, Inc., Unit 109 with 1,830 square feet. 

Chris Adams

 At the same time, Kelley and NAI Realvest Associate Chris Adams negotiated two renewal leases for office space at Plaza Central located at 6220 S. Orange Blossom Trail.

KKP Holdings, LLC renewed its lease of suite 320 with 3,510 square feet, and Mark Anthony Arias renewed the lease of Suite 101 with 700 square feet.

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

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