Thursday, April 3, 2014

Cuhaci & Peterson Architects completes design of a New Wawa and a Gordon Food Service near its Baldwin Park headquarters in Orlando, FL


Jed Downs
ORLANDO, FL - Cuhaci & Peterson Architects Engineers Planners was recently awarded contracts to design a new Wawa facility and Gordon Food Service (GFS) operation.

Jed Downs, president of the Baldwin Park based architectural firm, said the Wawa facility offering 6,500 square feet and Gordon Food Service with 16,000 square feet are located next to one another on Colonial Drive at Bennett Rd. in Orlando.

“We love working for retail clients on jobs that we not only design and oversee construction for, but can visit regularly when they are so close to our office,” said Downs.

Cuhaci & Peterson Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.

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

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

Tolaris Homes to Start Construction of Luxury Custom Homes at Sand Hill Cove in Lake Mary, FL

  

Rick Bavec

Lake Mary, FL --- Tolaris Homes will start construction of a luxury custom home in May at Sand Hill Cove, located on a private cul-de-sac off Country Club Road and Linda Lane near downtown Lake Mary.

Rick Bavec, a principal with Tolaris Homes, said he plans to build six luxury custom homes at Sand Hill Cove priced from $600,000 to more than $1 million.

Two home sites at Sand Hill Cove are already under contract.

“We are in the design stage now on the first home and we expect to start construction in May,” Bavec said.

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

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




Daniel Polfer Joins SightPlan in Orlando, FL as Chief Technology Officer


Daniel Polfer
ORLANDO, FlL– Daniel Polfer has been named chief technology officer for SightPlan an Orlando-based company that provides resident and service management software solutions to the multifamily industry.

Polfer comes to SightPlan from Voxeo, a multi-channel communications provider to more than half of the Fortune 100, where he was senior vice president of engineering since 2007 and helped to transition the company through their recent 160M acquisition by Aspect Software.

 At SightPlan Polfer will be responsible for the strategic direction and expansion of the company’s product engineering team.

“Daniel is the rare combination of technical depth and business awareness,” according to SightPlan President Joseph Westlake. “He shares our values, our focus on innovation, and cares deeply about the details of our customers’ experience. Throughout his career, Daniel has proven himself a strong leader focused on engineering excellence.”

Joseph Westlake
Before joining Voxeo, Polfer spent 12 years leading the development of industry-defining applications for Yahoo!, Musicmatch, and Roxio.

 In 1995 he founded Moxie Technologies, which developed CD/DVD recording engines and device drivers. 

Moxie Technologies was acquired by Musicmatch in 2000, which was subsequently acquired by Yahoo! in 2004. 

As the VP of OEM Engineering at Musicmatch and Director of Engineering at Yahoo!, Polfer managed the development and deployment of multimedia solutions used by millions of users.

SightPlan is revolutionizing Multifamily Resident and Service Management with its modern approach to managing work orders, resolving resident issues and improving asset value. SightPlan is Modern Multifamily.
  
SightPlan is a member of the University of Central Florida Business Incubation Program.

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


Charlene Hager-Van Dyke, Larry Vershel Communications, 386-532-8862 or 407-644-4142; chagervandyke@yahoo.com  

Lawson Dann of Morrison Commercial Real Estate Completes 20,560 SF industrial investment sale in Orlando, FL for $725,000



Lawson Dann

 ORLANDO, FL (APRIL 3, 2014):  Morrison Commercial Real Estate negotiated the sale of a 20,560 SF industrial investment sale for $725,000.

 11236 Satellite Boulevard, a 20,560 SF single-tenant light industrial building located in the Regency Industrial Park, just off Central Florida Parkway on Satellite Boulevard, was purchased by CWN Holdings – Satellite, LLC for $725,000.

The seller was Regions Bank.  Lawson Dann, Vice President of Morrison Commercial Real Estate, represented the seller in this transaction.

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

Gina Wade
Phone: 407.440.6651

  
Rendering of Lexington Hills townhome development in Palatine, IL


Jeff Benach
Chicago (April 2, 2014) – Chicago-based Lexington Homes has announced that despite a frigid winter, home sales have been hot at its Lexington Hills townhome development in Palatine,Ill., with 95 percent of the community’s “phase one” homes already sold.

The builder has also announced that it has broken ground on three new models that will showcase the townhomes’ fluid floor plans and high-end finishes.

“We did a soft launch in September and sales took off,” said Jeff Benach, co-principal of Lexington Homes. “I believe the quick sales at Lexington Hills shows signs that the housing market is turning a corner. We even had a handful of buyers who bought a home at Lexington Hills before selling their current home. That hasn’t happened for years, and it’s a sign that buyers’ confidence in the housing market is continuing to increase.”

Lexington Hills is just 30 miles from Chicago’s Loop and 14 miles from O’Hare International Airport. 

The community is located in the renowned Community Consolidated School District 15, a winner of the Malcolm Baldrige National Quality Award, a prestigious award few school districts in the nation have won. 

For more information about Lexington Hills of Palatine, call (847) 818-0800 or visit www.lexingtonchicago.com.

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

Kelly Shumaker kshumaker@taylorjohnson.com, 312-267-4519
Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522


Universal’s Cabana Bay Beach Resort Opened


ORLANDO, FL -- Loews Hotels & Resorts and Universal Orlando Resort opened Universal's Cabana Bay Beach Resort, their fourth on-site hotel, on March 31.




From left: Adnan Bizri, Managing Director, Universal's Cabana Bay Beach Resort, the Hicks family, the first family to check in to the new hotel, David Bartek, Vice President of Operations, Loews Hotels at Universal Orlando and Tom Roditus, Senior Vice President, Loews Hotels & Resorts

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

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

Charles Dunn Company Completes $2.7 Million Sale of 8-Unit Multifamily Property in Los Angeles

  
1937 Pelham Avenue, West Los Angeles, CA

Ramin Gheitanchi
 LOS ANGELES, CA, April 3, 2014 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.7 million sale of a fully occupied, eight-unit multifamily property located at 1937 Pelham Ave. in west Los Angeles.

Ramin Gheitanchi of Charles Dunn Company who specializes in listing and selling multifamily properties in the prime Westside market, represented the buyer, Chateau Pelham LLC, as well as the seller, 1937 Pelham LLC. The closing cap rate was 4.2 percent.

Built in 1961, the fully renovated property consists of four one-bedroom units and four two-bedroom units. The well-located asset is near Santa Monica Blvd. and is within the Westwood sub-market. 

“The buyer owns other multifamily properties in the area and wanted to expand his portfolio.  With such a low turnover of apartment buildings in the prime Westside market, this was a rare opportunity for the buyer to acquire a luxuriously renovated turnkey property that will appreciate in value as rents continue to rise in the local area,” said Gheitanchi.

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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

Capital Square Realty Advisors Acquires CVS on Las Vegas Strip

  
Louis Rogers
LAS VEGAS, NV – Capital Square Realty Advisors, LLC announced today that an affiliate of the company has purchased a 14,378-square-foot CVS retail facility on the Las Vegas Strip.

Located at 2700 S. Las Vegas Blvd., the retail facility is situated on the ground floor of Sky Las Vegas, a 45-story high-rise luxury condominium development on the north end of the Las Vegas Strip.

“This retail facility is 100 percent net leased on a long-term basis to a CVS entity and guaranteed by CVS Caremark Corporation, the largest provider of prescriptions and related healthcare services in the U.S. with an annual revenue base approaching $100 billion per year

“ The facility also benefits from a strategic location on the rapidly-developing north end of the Las Vegas Strip,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

The property is surrounded by new development activity, including the SLS Las Vegas currently under construction on the site of the former Sahara Hotel & Casino.

Yogi Singh
 This 1,600-room boutique resort with an estimated $300 million in construction costs is scheduled to open in 2014. 

The property is also near Resorts World Las Vegas, currently under construction at the previous site of the Stardust Hotel and Casino. The project is estimated to cost between $2 and $7 billion and is scheduled to open in 2016.

Yogi Singh, vice president of acquisitions, added, “Capital Square placed highly accretive debt on the property based on the credit of the tenant, CVS Caremark Corporation.” 

“Financing a CVS on the Las Vegas strip provided a unique opportunity for a lender that understands not only the valuation methodology of a credit tenant lease but also the condominium structure,” said Adam Levinson, managing director of BGC Capital Partners, who procured the senior debt for Capital Square. 

 “This deal combined both certainty of cash flow from an investment grade tenant and upside from billions of dollars of new development activity in the area.”

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

Julie Leber                                                                         
Spotlight Marketing Communications                    
949.427.5172, ext. 703                   


Wednesday, April 2, 2014

HSA Commercial Signs Lease with Lakeside Wealth Management at Village Point Professional Office Building in Chesterton, IN



Village Point Professional Office Building, 3100 Village Point Road, Chesterton, IN

Robert Titzer
 CHICAGO, IL (April 2, 2014) — HSA Commercial Real Estate announced today that the firm has finalized a lease with Lakeside Wealth Management to occupy 13,800 square feet on the second level of the Village Point Professional Office Building at 3100 Village Point Road in Chesterton, Ind.

 Lakeside Wealth Management, which provides financial services ranging from corporate and institutional-qualified plan consulting to the management of personal wealth, will relocate from its existing Chesterton office at 407 West Indiana Avenue in September.

The new lease with Lakeside Wealth Management will bring the 31,210-square-foot Village Point Professional Office Building to full occupancy.

Developed in 2007 by HSA Commercial, the state-of-the-art Village Point Professional Office Building is located on the 120-acre Coffee Creek Campus; a pedestrian-oriented business community featuring miles of brick paved walking paths, preserved green space, parks, and an open-air pavilion.

Jay Pouzar
The 3100 Village Point building, which offers tremendous visibility and accessibility from Interstate 80, is also located in close proximity to the recently-constructed, 225-bed Porter Valparaiso Hospital Campus and the new Urschel Laboratories corporate campus now under construction.

 Other tenants at the Village Point Professional Office Building include Duneland Dialysis and Duneland Nephrology.
  
Robert Titzer, executive vice president with HSA Commercial, and Jay Pouzer of CBRE represented ownership in the transaction.
  
For a complete copy of the company’s news release, please contact:

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523


Marcus & Millichap Recognized as Technology Innovator


Richard Peltz
CALABASAS, CA, April 2, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced that it ranked 51st on this year’s InformationWeek Elite 100, a list of the top business technology innovators in the U.S.

This is the ninth consecutive appearance by Marcus & Millichap in rankings compiled by InformationWeek. The full list can be found at http://www.informationweek.com/elite100.

“It’s a great honor to be recognized as a technology innovator in business for the ninth time in a row by InformationWeek magazine,” says Richard Peltz, senior vice president and chief information officer of Marcus & Millichap.

“The award is a testament to our commitment to providing our investment real estate agents and debt and equity providers with the highest level of technology service and support possible.”

Additional details on the InformationWeek Elite 100 can be found online at http://www.informationweek.com/elite100.

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

Ben Johnson
Marketing Director

(925) 953-1736

Marcus & Millichap Arranges Sale of 47,390-SF Shopping Strip in Sunrise, FL for $6.5 Million


Tri-City Plaza, 5995 West Sunrise Boulevard, Sunrise, FL

Marc E. Strauss
SUNRISE, FL, April 2, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Tri City Plaza, a 47,390 square-foot shopping strip located in Sunrise, FL. The asset sold for $6,500,000.

Marc E. Strauss, a first vice president investments, and Richard Moravek, an associate, in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company. 

“We are seeing more investors target inland retail properties, such as those in Sunrise, as the housing recovery and job growth lessen the perceived risks.  

"The 1031 exchange buyer was attracted to Tri City Plaza because the center is grocery-anchored. The IGA Neighbors supermarket is doing really well with over $402 per square foot in store sales,” says Moravek.

Richard Moravek
The center is occupied by 13 tenants including: Family Dollar, IGA Neighborhood Market, Metro PCS, Rainbow and others. Tri City Plaza is located at the signalized intersection of West Sunrise Boulevard and Sunset Strip at 5995 West Sunrise Boulevard in Sunrise, FL.

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

Ryan Nee
Regional Manager
Ft. Lauderdale, FL
(954) 245-3400

Trepp Reports US CMBS Delinquency Rate Declines for the 10th Straight Month


Manus Clancy
NEW YORK, NY – Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, released its March 2014 US CMBS Delinquency Report (available at www.trepp.com/knowledge/research).

The rate for US commercial real estate loans in CMBS fell 24 basis points in March to 6.54%. The last time the Trepp US CMBS delinquency rate was below this level was over four years ago, in January of 2010. Today’s rate is 288 basis points lower than where it was a year ago.

Again, Trepp credits some of the month-over-month improvement to the ongoing CWCapital distressed asset sales.

 In the first three months of 2014 alone, the CMBS market saw 114 basis points of downward pressure on the delinquency rate due to previously delinquent loans being resolved with losses. While not all of these resolutions are a result of the CWCapital assets, they have contributed significantly to the rate’s improvement.

“The CMBS market had the pleasure of singing the same happy refrain in March, as delinquencies continued to fall,” said Manus Clancy, Senior Managing Director at Trepp. “We had anticipated a large drop in the rate due to the CWCapital assets, but that descent has been extended, as the notes didn’t really begin to make it through remittance cycles until the New Year. We suspect the rate will stabilize somewhat in coming months.”

New delinquencies totaled $1.7 billion March, which was up from $1.3 billion in February. The total number of delinquent loans was down month-over-month, as there are now $34.6 billion delinquencies.

All five major property types improved in March. Retail dipped just six basis points but remains the best performing major property type. Multifamily saw a 13 basis-point improvement, but is still the worst performer among the group with the only double digit delinquency rate

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

Joe McBride, Research Analyst
Trepp LLC
212-754-1010

Eric Gerard, Lindsay Church
Great Ink Communications
212-741-2977

HFF closes $10.1 million sale of Eureka Plaza in Miami, FL


Eureka Plaza, 18300 SW 137th Avenue, Miami, FL


Danny Finkle
MIAMI, FL – HFF announced today that it has closed the sale of Eureka Plaza, a grocery-anchored shopping center totaling 66,142 square feet in Miami, Florida.

               HFF marketed the property on behalf of EDENS.  Eureka Plaza Group LLC purchased the unencumbered property for $10.1 million.

The 8.91-acre property includes three free-standing retailers – a 52,450-square-foot Winn Dixie Supermarket, a 3,367-square-foot McDonald’s, and a 3,500-square-foot Pollo Tropical – as well as a 0.6-acre development parcel.

 Eureka Plaza is located at 18300 SW 137th Avenue at the intersection of SW 184th Street/Eureka Drive, southwest of Miami’s central business district.

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


Luis Castillo
HFF’s investment sales team secured more than $3.1 billion in sales of retail assets nationally through 2013.  In Florida, HFF closed more than $872 million in retail transactions across all capital markets platforms over the same period.

EDENS develops, owns and operates retail and retail-driven centers in primary markets throughout the East Coast.  

With projects such as Union Market in Washington, D.C., and Mosaic District in Fairfax County, Virginia, EDENS has emerged as a leader in incubating new retail and F&B concepts as a way of enriching and engaging the local community. 

  EDENS has regional headquarters in Boston, New York, Washington D.C., Atlanta, Miami and Columbia, South Carolina.  For more information about EDENS, please visit www.edens.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

HFF named to market for sale Southside at McEwen in Nashville, TN



Southside at McEwen grocery center, Nashville, TN

Jim Hamilton
ATLANTA, GA – HFF announced today that it has been named to exclusively market for sale Southside at McEwen, a trophy, high-end grocery center anchored by Whole Foods located in Nashville, Tennessee. 

HFF is marketing the property on behalf of the seller, Amstar.

Whole Foods is the largest grocer of natural and organic foods in the United States and is one of the most sought after grocers in the world. 

The property is located in the Cool Springs submarket, which is the dominant high-end business, shopping and entertainment district in the Nashville MSA. 

The property was completed in 2012 and features a number of high end retailers including Whole Foods, lululemon, fab’rik, charming Charlie, BrickTop’s, Pei Wei and Mountain High Outfitters.

               The HFF investment sales team representing the seller is led by managing directors Jim Hamilton and Richard Reid.

Richard Reid
               Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select U.S. and international markets.  

  Originally  formed to  invest  and  manage  the real  estate  allocation  of  a large family office client, Amstar began expanding its capital strategy nearly a decade ago and has grown to  more  than  $2.4  billion  in  assets  under  management  (as  of  December  31,  2013).  

  Today,  Amstar  is proud  to  provide  a  high  degree  of focus  and  attention  to  its  client relationships,  counting  among  them leaders in the private and institutional investment community.   

Amstar’s clients originate from across the globe and include U.S. and European institutions, insurance companies, private banks, funds  of  funds, and other family offices.

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

Graham Hill Joins Bull Realty’s National Self Storage Group



Graham Hill
ATLANTA, GA (April 2, 2014) – Graham Hill has joined the National Self Storage Group at Bull Realty, the growing commercial real estate sales, leasing and consulting firm headquartered in Atlanta.

As senior vice president, Hill will advise both owners and investors in the acquisition and disposition of self-storage facilities and sites in the southeast United States.

“I’m excited to utilize Bull Realty’s powerful disposition and marketing platform for my existing and new self-storage clients,” said Graham Hill.

 Hill’s experience prior to brokerage includes owning and operating sales promotion and marketing companies, as well as investing in multifamily properties.

Michael Bull
 “Self-storage has become one of commercial real estate’s hottest niche sectors, so now was the right time to add a distinguished commercial real estate professional like Graham to our group,” said Michael Bull, CEO of Bull Realty and host of the “Commercial Real Estate Show” program.

 “He will help us expand our services for private equity and institutional owners in this growing sector.”

Bull Realty Inc (www.BullRealty.com) is a U.S. commercial real estate sales, leasing and advisory firm headquartered in Atlanta. The company was founded in 1998 with two primary missions that drive the firm’s decisions every day. Grow a company known for its stellar integrity and to provide the best disposition marketing in the nation.

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