Jones Lang LaSalle says investors show continued confidence in Southwest Phoenix submarket

7200 West Buckeye Road, Southwest Phoenix, AZ

Mark Detmer

PHOENIX,  AZ, Dec. 10, 2013 – Phoenix industrial absorption rates may have hiccupped mid year, but investors are not deterred, as illustrated by the sale of 7200 West Buckeye Road in Southwest Phoenix.

Jones Lang LaSalle’s Capital Markets experts facilitated the sale on behalf of the owner this week. 7200 West Buckeye Road Industrial Investors, LLC purchased the 400,000-square-foot industrial property for $26.25 million.

Jones Lang LaSalle (JLL) Managing Directors Mark Detmer and Bo Mills represented both the buyer and the seller.

Located on Buckeye Road within minutes of Interstate 10, 7200 Buckeye Road is 100 percent leased through 2017 to national credit tenant, Home Depot U.S.A., Inc.

The building was built in 2009 and includes state-of-the-art features such as 32’ clear height, ESFR sprinklers, cross dock loading, concrete truck courts and trailer storage.

Bo Mills

“This industrial project competes toe-to-toe with the best assets in the Valley,” said Detmer. “As our industrial market continues to strengthen, this property—like so many others in Phoenix—will deliver on its upside potential through rent growth, tenant retention and steadily rising values.”

According to JLL research, industrial vacancy levels in Southwest Phoenix are almost 10 percent lower than they were two years ago, with more than 10 million square feet of requirements still actively touring the market for space. 

As of September, the firm’s quarterly Phoenix Industrial Market Report shows the Southwest Phoenix warehouse/distribution inventory at 15.6 percent total vacancy and average total asking rents of $0.92 per-square-foot. 

This compares to an overall Valley warehouse/distribution vacancy rate of 12.7 percent and average asking rents of $0.43 per-square-foot.

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

Stacey Hershauer

480.600.0195

stacey@focusaz.com

www.jll.com

CHM Announces Asset Management Contracts For Three, Focused-Service Hotels

  

104-room Hampton Inn & Suites Fort Lauderdale-Airport, Fort Lauderdale, FL

BEVERLY, MA,  Dec. 10, 2013—Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm, today announced that it has been retained to provide asset management services for three, focused-service hotels located in Florida:

1.     the 104-room Hampton Inn & Suites Ft. Lauderdale-Airport,

2.     the 127-room Hampton Inn Miami-Airport West and

3.     the 122-room Hilton Garden Inn Orlando East/UCF Area.

127-room Hampton Inn Miami-Airport West

 The first two hotels are owned by The Lightstone Group, and the latter is owned by AVP Advisors, Inc.

“While CHM historically has been known for its expertise in the full-service segment, we also have an extensive background in focused-service hotels, ranging from sourcing transactions to developing the most effective strategies for enhancing value,” noted Chad Crandell, president of CHM.

“Much of the upside we are able to uncover in today’s market comes from revenue management, operator selection, managing brand expenses and ensuring PIPs (capital improvements) yield a return.

122-room Hilton Garden Inn Orlando East/UCF Area

“For these particular hotels, CHM participated in the due diligence and underwriting efforts on behalf of both ownership groups. 

“We reviewed the assets, assessed the markets, established optimal strategies and now are overseeing operations to help ensure investment returns are met. 

“CHM’s current asset management portfolio is comprised of approximately 30 individual hotels, of which seven fall into the focused-service asset category.

“We expect this number to double over the next 12 to 18 months as investors continue to flock to this product and seek expertise to maximize profit potential and investment returns.”

Chad Crandell

Conveniently located at Fort Lauderdale/Hollywood International Airport (FLL), the Hampton Inn & Suites Ft. Lauderdale-Airport has been awarded a TripAdvisor Certificate of Excellence Award for the past two years.  

Hotel amenities include a full-service business center, meeting room, fitness room, outdoor pool and complimentary breakfast bar. 

Minutes from Miami International Airport and the Dolphin Mall, a large and exciting shopping and entertainment outlet in Miami, the Hampton Inn Miami-Airport West is situated near downtown Miami and the beach. 

  In addition to complimentary shuttle service to and from Miami International airport, the hotel also provides 896 square feet of meeting/events space for up to 50 guests, a fitness center and free, daily breakfast.

Miami International Airport

“CHM was instrumental in the due diligence and closing of these two hotels, working closely with both us and our management team while transitioning the properties,” said Marc Dober, vice president, asset management, hospitality of The Lightstone Group.

 “The company has been an invaluable liaison between The Lightstone Group and the brands, making the process that much more manageable for all parties involved.”

  

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

Jerry Daly

(703) 435-6293

jerry@dalygray.com

Chris Daly

President

Daly Gray, Inc.

Ph: 703-435-6293

Cell: 703-864-5553

www.chmhotel.com

(978) 522-7000.

HFF closes $9.875 million sale of Publix-anchored center in Fort Myers, FL

Alico Commons, Alico Road and Tamiami Trail (US 41), Fort Myers, FL

Danny Finkle

MIAMI, FL – HFF announced today that it has closed the $9.875 million sale of Alico Commons, a 97,663-square-foot Publix-anchored center in Fort Myers, Florida.

               HFF marketed the properties on behalf of Endeavor Real Estate Group (“Endeavor”). The PMAT Companies purchased the asset for $9.875 million free and clear of existing debt. 

Built in 2009, Alico Commons is situated on a 12.04-acre site at the intersection of Alico Road and Tamiami Trail (US Highway 41).  The center is 53.5 percent leased and is anchored by a 45,600-square-foot Publix.

               The HFF team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo.

“This asset provided investors an opportunity to acquire a recently built, high volume, Publix-anchored center with substantial value enhancement possibilities through lease-up and outparcel development in an ascending local market,” said Finkle.

Luis Castillo

HFF has capitalized more than $4.3 billion in retail assets nationally through third quarter 2013.  The HFF Florida team has capitalized more than $476 million in retail transactions during this time.

Austin-based and privately owned, Endeavor is focused on the acquisition and development of retail, office, industrial and multifamily/mixed-use properties.  Founded in 1999, the company provides a services including property management, tenant representation and leasing. 

The PMAT Companies is a real estate development firm focused on value-add grocery anchored shopping centers across the Southeast, Sunbelt and Mid-Atlantic Regions. 

  Since its founding in 2003, the PMAT Companies have acquired and successfully renovated 20 anchored shopping centers with an aggregate market value of nearly $500 million dollars consisting of approximately 2.5 million square feet. 

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

krmurphy@hfflp.com

www.pmat.net.

www.endeavor-re.com.

Marcus & Millichap Awarded Exclusive Listing to Sell Majestic Golf Club in Lehigh Acres, FL

  

Majestic Golf Club & Development Opportunity, Lehigh Acres, FL

Steven Ekovich

TAMPA, FL,  Dec. 10, 2013 -- National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been retained to exclusively market for sale the Majestic Golf Club & Development Opportunity, according to Steven Ekovich, Managing Director of the National Golf & Resort Properties Group.

 Terence Vanek, Associate and lead agent on the deal, is the listing broker for this privately owned golf opportunity. 

Priced at $1,200,000, and located off of Interstate 75 along the southwest coast of Florida, the Majestic Golf Club & Development Opportunity is a semi-private golf club with a strong local reputation servicing the approx. 90,000 people living within Lehigh Acres.

Terence Vanek

The Club is well-located in the heart of Lehigh’s main population center, with great regional access via it’s frontage along one of the primary central corridors Homestead Road.

It offers membership opportunities that include access to highly desirable banquet, pool & fitness amenities, as well as an 18-hole golf course newly outfitted with brand new green complexes that boast Florida’s most popular new grass - “Sunday” Ultra-dwarf Bermuda.

Finally, the Club’s front 21 acres offer long-term upside by way of a flexible, “dual-use” commercial zoning classification that allows ownership a development order to create a mixed-use community center.

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

Terence Vanek, Lead Agent and

Associate, Investment Advisor

National Golf and Resort Properties Group

(813) 387-4809

www.nationalgolfgroup.com.

SQR-Code Launches new technology with Miami Realtors In Mind; Introducing Next-Generation Smart QR Codes for Business

   

Miami, FL, Dec. 10, 2013 – Fueled by the momentum of South Florida’s housing boom, Miami based technology company, Smart QR Solutions, is launching an innovative, next-generation QR Code proving to be extremely useful for real estate agents.

 For those not familiar with QR (Quick Response) code technology, QR Code is simply a code bar printed on paper, that when scanned with a mobile device, takes consumers to a online content page.

However, unlike standard QR codes which link to a single site or landing page, Smart-QR codes can be changed and can be linked to multiple mini sites and programmed to hundreds of various online content pages.

This is extremely useful for real estate agents with multiple listing and consistently changing inventory. Mobile optimized mini sites also help agents reach potential buyers on the go.

 Smart-QR codes enable realtors to link their clients to real-time property listings without needing to change the actual printed code.

Additionally, having the functionality to create multiple mini sites is ideal to showcase property details and virtual tours for all of your listings rather than only one.

Eliminating the need to design and print multiple codes is also cost effective—streamlining marketing collateral and promotional efforts.

 The user-friendly interface and advanced analytics reporting is another selling point for agents.  Dynamic tracking technology built into the data and analytics programming, Smart-QR provides invaluable information related to promotional effectiveness, marketing ROI and consumer demographics.

“Understanding who, where and how your target market engages with your content is something anyone with a marketing budget and consumer business wants to know,” says Smart QR Solutions CEO, Janos Nemeth.

“Having the information to understand who is really engaging with your brand, where and how they can be reached it is priceless information.”

 Just like with Facebook, Twitter, Blogging, Mobile, Video and any other buzz worthy platform of new technology, those who adapt it quickly will pick up market share. Right now that technology is Smart-QR Codes.

 For more information on Smart Code Solutions and its technology, please visit www.sqrcode.com.

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

Rachel S. Pellman

CMO

Design Your Startup

516.244.5862

HC Real Estate Capital Arranges $5,050,000 in Acquisition Financing for Multi-Family Community In Satellite Beach, FL

Shore View Apartments, 50 Berkeley Street
 Satellite Beach, FL

Satellite Beach, FL, Dec. 10, 2013 -- Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $5,050,000 in acquisition financing for Shore View Apartments located at 50 Berkeley Street Satellite Beach, FL. 

HC Real Estate Capital worked exclusively with the borrower to obtain a 5-year fixed-rate loan through a regional bank.

Shore View is a 155-unit apartment complex that was originally built in 1964 and is situated on 8.5 Acres of land that sits across the street from the Atlantic Ocean. 

The community is comprised of five residential buildings with individual units that are made up of 19 studio units, 65 one-bedroom/one bathroom units, 70 two-bedroom/one bathroom units and a three-bedroom/two bathroom unit. 

The community offers numerous amenities including a state of the art fitness center, several BBQ/picnic areas, Olympic size swimming pool, basketball court and a clubhouse. 

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

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com

Trepp Reports US CMBS Loss Severity Up in November

NEW YORK, NY – Trepp Reports November Loss Analysis: Volume and Loss Severity Bounce Back

“November CMBS loss severity landed at 48.10%, up considerably from October's 38.58% and above the 12-month moving average of 44.34%,” said Joe McBride, a senior analyst with Trepp.

Joe McBride

“The number of loans liquidated was 105, resulting in $579.64 million in losses and an average disposed balance of $11.48 million, in line with the 12-month average of $11.43 million.

“Office and retail properties accounted for the majority of liquidated loans and pushed loss severity up with average loss rates of 68.47% and 51.26% respectively.”

After two months of relatively low liquidation volume, November brought a return to average levels.

Liquidation volume came in at $1.2 billion in November, up from $960 million in October and $870 million in September. Volume registered on par with the 12-month moving average of $1.18 billion.

Further, the majority of loans liquidated fell into the greater than 2% loss severity category.

November loss severity landed at 48.10%, up considerably from October's 38.58% and above the 12-month moving average of 44.34%.

The number of loans liquidated in November was 105, resulting in $579.64 million in losses. These liquidations translated to an average disposed balance of $11.48 million, in line with the 12-month average of $11.43 million.

Since January 2010, servicers have been liquidating at an average rate of $1.17 billion per month.

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

Eric@greatink.com

Al Kinkle Joins Marcus & Millichap Capital Corp. as Associate in Tampa, FL

Al Kinkle

 TAMPA, FL,  Dec. 9, 2013 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has hired Al Kinkle as an associate in the firm’s Tampa office, according to William E. Hughes, senior vice president and managing director of MMCC.

            In his new position, Kinkle will arrange debt financing for all types of commercial real estate assets, including multifamily, retail, and office and industrial properties.

Prior to joining MMCC, Kinkle served as a consultant with Global Loan Solutions LLC in Fort Meyers, Fla. He also worked as a mortgage broker with several mortgage companies in Ft. Meyers and Naples, Fla. 

            Kinkle graduated from the United States Air Force Academy in Colorado Springs, Co. where he earned a Bachelor of Science in English literature. 

William E. Hughes

He is also an avid triathlete and duathlete, who recently earned a spot on team USA for the 2014 ITU Standard Distance Duathlon World Championship in Pontevedra, Spain, May 31 – June 1, 2014.

  

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corp.

(925) 953-1716

The Residences at Mandarin Oriental, Atlanta, Hires Buckhead High-Rise Expert Karen Rodriguez to Lead New Sales Team

The Residences at Mandarin Oriental, Atlanta, GA

Karen Rodriguez

ATLANTA (Dec. 9, 2013) – iStar Residential, a division of iStar Financial Inc. (NYSE: SFI), announced today it has hired an all-new sales team, led by the top-selling high-rise agent in Atlanta, for The Residences at Mandarin Oriental, Atlanta.

Karen Rodriguez of Dorsey Alston Realtors will lead the revamped sales efforts. She brings 11 years of experience in the Buckhead luxury high-rise market to the exclusive, world-class property.

 The addition of Rodriguez is part of an extensive rebranding process that began in May 2012 with the reintroduction of the exclusive, five-star luxury Mandarin Oriental, Atlanta.

The debt-free property, wholly owned by real estate company iStar Financial Inc., has been reshaped into one of the top-ranked hotels in the city. Now, iStar Financial Inc. has shifted focus to the 25-unit residential units on the top floors of the property.

 Before joining The Residences at Mandarin Oriental, Atlanta, Rodriguez led the sales and marketing strategy for the nearby $100 million Ritz-Carlton Residences high-rise project, selling out the property in a mere two-and-a-half years.

The leading luxury high-rise condominium expert in Buckhead, Rodriguez has also represented many of Atlanta’s top developers, including Post Properties and the Novare Group.

John Kubicko

 “Karen brings an intimate and unparalleled knowledge of the Buckhead high-rise market to this luxury property,” said John Kubicko, Senior Vice President at iStar Financial Inc. “We are very pleased to have someone with such extensive experience lead our sales efforts.”

 The Residences currently are being built-out with contemporary, ultra high-end finishes and sleek, built-in fireplaces with marble surrounds. Each unit will also feature a 36-inch Viking gas grill as well as a fireplace on its balcony.

The team is also revamping the common areas with modern color palettes and sleek marble floors. iStar has partnered with premier local architectural firm Harrison Design to craft unique layouts that showcase the spectacular views. Additionally, plans are underway to build out all the remaining unfinished shells.

 Harrison Design Associates also designed a lavish three-bedroom model home that was staged on the 45th floor to demonstrate The Residences’ new contemporary appearance. Decorated by Decatur, Ga.,-based firm GraysonHarris, the model was unveiled in September and was featured in the November edition of Atlanta Homes & Lifestyles.

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

Josh Guterman,

jguterman@thewilbertgroup.com

http://moresidencesatlanta.com.

http://www.mandarinoriental.com/destination-mo/

www.mandarinoriental.com.

www.istarfinancial.com.

www.istarresidential.com.

INNOVATIVE Real Estate Companies Adds Another Key Hire; Melissa Montgomery Joins as Controller

  

Melissa Montgomery

Houston, TX (Dec.  9, 2013) – INNOVATIVE Real Estate Companies has hired Melissa Montgomery as Controller.

Montgomery brings over 10 years of real estate accounting and financial reporting experience. She is responsible for all reporting and accounting functions for INNOVATIVE Real Estate Companies – including INNOVATIVE Student Housing, INNOVATIVE Apartment Living and INNOVATIVE Real Estate Development.

“Adding Melissa to the team reflects our commitment to building a great company – which starts with continuing to build the right team,” said David Neef, Chief Operating Officer of INNOVATIVE Real Estate Companies.

“We've always taken the approach of recruiting and hiring the best and the brightest, as evidenced by the strength of our existing team. Melissa is no exception. She has a work philosophy that reflects our company culture and extensive industry experience.”

Montgomery most recently served as Financial Reporting Manager for The Lionstone Group, a commercial real estate investment company headquartered in Houston. 

David Neef

Previously, she served as Financial Controller and Director of Financial Reporting for the U.S. region of Campus Living Villages. There she supervised accounting and reporting functions for approximately 20,000 beds across the United States.

Montgomery holds a BBA in Accounting from Texas Tech University and a JD from the University of Houston. She is also a Certified Public Accountant.

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

Terri Thornton

Terri@TerriThornton.com,

 (404) 932-4347

www.INNOVATIVErec.com.

HFF closes sale of 336,000-square-foot bulk distribution warehouse in Reno, NV

9085 Moya Boulevard Bulk Distribution Warehouse, Reno, NV

Steven Golubchik

SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 9085 Moya Boulevard, a 336,000-square-foot, Class A bulk distribution warehouse in Reno, Nevada.

HFF co-brokered the sale with NAI Alliance on behalf of the seller, Panattoni Development Company.  KTR Capital Partners, LLC purchased the asset for an undisclosed amount free and clear of debt.

The property is situated on 17.46 acres within the Red Rock Business Center along US Highway 395 just north of the Interstate 80 interchange. 

Completed in 2001 and 90 percent leased, 9085 Moya Boulevard is a crossdock building, which features 30-foot ceiling heights, 130-foot truck courts and 42 loading docks with the capability to add 34 additional doors.

John Simerlein

The HFF team representing the seller was led by managing director Steven Golubchik and director John Simerlein.  NAI Alliance was represented by Mike Nevis.

Panattoni Development Company (www.panattoni.com) is a privately-held, full-service development company founded in 1986.

 The firm has completed in excess of 175 million square feet of commercial projects globally. 

Panattoni has developed industrial, office and flex facilities in 278 cities located in 29 states and nine countries.  The firm is headquartered in California and maintains offices throughout the United States, Canada and Europe.

KTR Capital Partners is a real estate investment, development and operating company focused exclusively on the industrial property sector. 

Mike Nevis

Headquartered in New York City with offices in Philadelphia, Chicago, Dallas, Las Vegas, Los Angeles and Miami, KTR has a 75-person platform that manages a series of discretionary value-add investment funds that target opportunities throughout major markets in North America. 

KTR’s funds currently own a portfolio of approximately 53 million square feet across North America and provide nearly $7 billion of investment capacity.  For additional information, please visit www.ktrcapital.com.

NAI Alliance is the premier commercial real estate firm in Northern Nevada, specializing in the sale, leasing and management of office complexes, retail shopping centers and industrial warehouse buildings in conjunction with land, multifamily and investment properties. 

  As a member of NAI Global, NAI Alliance is a part of 350 offices, with 5,000 professionals in 55 countries with $45 billion in transaction volume and more than 300+ million square feet managed worldwide.  For additional information, please visit www.naialliance.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

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Flagler Street Foot Locker Building in Downtown Miami, FL Hits the Market at $5 Million; A Marcus & Millichap Listing

  

Flagler Street Foot Locker Building, 38 East Flagler Street, Miami, FL

  

Ryan Shaw

MIAMI, FL, Dec. 9, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a 32,838-square foot, mixed-use building with ground floor retail in downtown Miami, FL.

The impressive redevelopment opportunity is priced at $5 million.

            Ryan Shaw, a Senior Associate in Marcus & Millichap’s Miami office, is representing the seller, a limited liability company from Massachusetts.

“This is an excellent redevelopment opportunity in downtown Miami’s central business district,” says Shaw.

“Neighboring properties include Macy's department store, Miami-Dade County Courthouse and the Seybold Building Diamond Center.

Macy's Department Store, 22 East Flagler Street
Downtown Miami, FL
Formerly Burdines Department Store Building

“Miami's Downtown People Mover station is one block away and two blocks west are three new condominium projects that are mostly occupied.  The property allows for high-rise redevelopment of approximately 385 units and a maximum height of 80 floors,”

The two-story, mixed-use building is currently 100 percent occupied by Foot Locker.  The Flagler Street Foot Locker building is located at 38 East Flagler Street in Miami.

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

Kirk Felici

Vice President/Regional Manager

Miami, FL

(954) 245-3400

Avalon “Firing on All Cylinders”, Retail 90 Percent Committed; One-year Grand Opening Countdown Under Way

Rendering of Avalon under construction in Alpharetta, GA

Mark Toro

 NEW YORK, NY (Dec. 9, 2013) – North American Properties – Atlanta (NAP) today announced from the ICSC New York National Conference that the 50th lease has been executed at its Avalon project in Alpharetta, Ga.

The $600 million mixed-use project is now 90 percent pre-leased with just under one year to go until its Oct. 30, 2014 grand opening.  

 Avalon is one of the largest projects under construction in the United States and it will be the Southeast’s preeminent experiential development — a place where specialty retail, entertainment, restaurants, residences, offices, hotels and public spaces come together to create a truly unique experience.

 “It’s rare, in a mixed-use development of this scale, to have all uses moving forward at the same time,” says Mark Toro, managing partner of NAP. “We are firing on all cylinders, with multifamily, single-family, retail, restaurants, entertainment and office all underway.”

Ron Pfohl

 Recently signed leases include: Oak Steakhouse, francesca's boutique, Kendra Scott, Pottery Barn Kids, Marmi Shoes, Fuzziwig's Candy Factory, American Threads, The Cosmetic Marketand Giovanni DiPalma's Caffe Gio. Those in final lease negotiations include: Crate & Barrel in Phase 1 and Lilly Pulitzer in Phase 2.

“Reaching 90 percent committed in our 400,000 square-foot first phase, one year before opening, is testament to how unique Avalon is,” said Ron Pfohl, vice president of leasing at NAP. 

“We are to the point where we are turning away retailers because we can’t accommodate them. We’ve already secured our first commitment in Phase 2.”

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

Savannah Duncan • The Wilbert Group

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

O: 404-343-0870  • M: 404-901-4433

thewilbertgroup.com

http://www.naproperties.com.

NAI Realvest Negotiates Two New Lease Agreements at Airport Industrial Center in Southeast Orlando, FL

Airport Industrial Center, 7452 Narcoossee Road, Southeast Orlando, FL

Michael Heidrich

MAITLAND, FL  – NAI Realvest recently negotiated two new lease agreements totaling 12,000 square feet at the Airport Industrial Center in Southeast Orlando.

 NAI Realvest Principal Michael Heidrich Sr. represented Boston-based BIEL, REO, LLC, the landlord of the industrial building located at 7452 Narcoossee Rd.

Sean DuPree

Unit C with 9,000 square feet at Airport Industrial Center was leased by a local tenant, 1100 Atlantic Collision, Inc. who was represented in the transaction by Sean DuPree of Lincoln Property Company.

  The lease included 34,848 square feet of outside storage space.

John Brazelton

 Central Pump & Supply Inc. of Cocoa, Fla. leased Unit A with 3,000 square feet of industrial space and 10,000 square feet of outside storage was included in the lease agreement.  John Brazelton of BSA Realty represented the tenant.

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 New Lease for a Winghouse in Downtown Sarasota, FL

 

Planned 2014 Winghouse Restaurant location, 1991 Main Street, Sarasota, FL

  

Kimberly Manson

ORLANDO, FL and SARASOTA, FL– NAI Realvest recently negotiated a new long-term lease agreement for the 6,296 square foot, partially-equipped, second generation restaurant located at 1991 Main St. in downtown Sarasota.

  The NAI Realvest team of Jeffrey Tanner and Kimberly Manson negotiated the transaction representing the tenant, Winghouse of Sarasota, LLC based in Largo.

 The landlord for the property on the corner of Main and Links is Sarasota Main Real Estate, LLC.

Jeffrey Tanner

  Opening of the new Winghouse restaurant is planned for early 2014 and it will accommodate over 200 patrons.

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

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