NAI Realvest Negotiates Three Leases totaling 13,200 Square Feet at Hanging Moss and Monroe CommerCenters in Orlando, FL and Sanford, FL

Michael Heidrich

ORLANDO, FL – NAI Realvest recently completed three new lease agreements for 13,211 square feet of industrial space at Hanging Moss CommerCenter in Orlando and Monroe CommerCenter North and South in Sanford.

Michael Heidrich, Sr., principal at NAI Realvest, negotiated the three transactions representing the local landlords. 

 In Sanford, Heidrich represented Landlord Monroe North SPE, LLC in the lease of 9,336 square feet in Suite 1018 Monroe CommerCenter North, 4200 Church St. Lennox Industries, Inc. of Richardson, Texas is the new tenant represented by Wally Henderson of J. Wallace & Associates.   

 Bashful Bliss.com, Inc. leased 2,000 square feet at Monroe CommerCenter South at 651 Progress Way.  The tenant was represented by Brian Smith of Smith McIntosh Properties and the landlord is Monroe South SPE, LLC.

 In Orlando Heidrich represented landlord Hanging Moss SPE, LLC in its lease agreement with Big Brother Auto Sales Corp. for 1,875 square feet in Suite 320 in Hanging Moss CommerCenter at 6124 Hanging Moss Rd.  

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

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

   

Cuhaci & Peterson Architects completes design work on Eight Florida Aldi Food Stores

Typical Aldi Food Store exterior

ORLANDO, FL – Cuhaci & Peterson Architects Engineers Planners, based in Orlando’s Baldwin Park, recently completed design work on eight Aldi Food Stores, all 18,000 square feet.

Lonnie Peterson, chairman at Cuhaci & Peterson, said the Aldi Food Stores are located in St. Augustine, Avalon Park in East Orlando, Palm Springs in Pam Beach County, Deerfield Beach and Fort Lauderdale in Broward, Miami Gardens, Hialeah and Florida City in Dade County.

Cuhaci & Petersen 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, Inc. 407-644-4142, lvershelco@aol.com

   

Regency Centers Honored as Green Lease Leader by the U.S. Department of Energy and the Institute for Marketing Transformation

Kristen Taddonio

JACKSONVILLE, FL, May 12, 2014 -- (BUSINESS WIRE)-- Regency Centers (NYSE:REG), a national owner, operator, and developer of grocery-anchored shopping centers is proud to be honored by the U.S. Department of Energy’s (DOE) Better Buildings Alliance and the Institute for Market Transformation (IMT) and as an inaugural Green Lease Leader.

Regency Centers is leading the market by achieving the standards set by the Green Lease Leaders program and incorporating lease clauses that help overcome market barriers, and align tenant and property owner interests, to save energy in commercial buildings.

“As a contractual arrangement, the lease is a powerful tool to help landlords and tenants increase building energy efficiency,” said Kristen Taddonio, manager of the Energy Department’s Better Buildings Alliance.

 “The Green Lease Leaders recognized today are redefining the role that leasing space can contribute to the triple bottom line and setting a standard for the industry.”

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

Regency Centers

Eric Davidson, 904-598-7829

Erc.Davidson@RegencyCenters.com

Trepp April Payoff Report: Percentage of Loans Paying at Maturity Levels Off

                

New York, NY, May 12, 2014 – Trepp reports the percentage of loans paying off on their balloon date was 63.6% in April, just one point lower than the March reading of 64.6%. Although April marked the fifth straight month in which the rate declined, the decrease was much smaller than the previous four months, during which the payoff rate fell from 81.3% to 64.6%.

The April payoff percentage was lower than the 12-month moving average of 69.5%. This number sums the averages of each month and divides by 12--there was no balance weighting across the months. The November 2013 reading was the highest rate in the last five years, at 81.3%. (Trepp began measuring this statistic in August 2008.)

By loan count (as opposed to balance), 67.0% of loans paid off in April. That was an increase from March, which was 64.8% on this basis. The 12-month rolling average by loan count is now 69.6%.

The ongoing decline could be a result of adverse selection from the loans that have remained outstanding until maturity. A large percentage of the loans due to mature in April were from the 2004 vintage.

With interest rates and spreads so low in recent years, it is quite possible that the higher quality loans paid off as soon as they came out of lockout, which could have left the more marginal properties outstanding. Those properties, of course, would have the hardest time finding refinancing.

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

Eric Gerard

Eric@greatink.com

HSA PrimeCare Completes Sale-Leaseback of Surgery Center in Crown Point, IN

  

APAC Medical Plaza, 11456 South Broadway, Crown Point, IN

John Wilson

CHICAGO, IL  (May 12, 2014) — Dan Miranda, president of HSA Commercial Real Estate, and John Wilson, president of HSA PrimeCare, announced today that HSA PrimeCare has closed on the purchase of the APAC Medical Plaza, a 13,200-square-foot multi-specialty surgery center located at 11456 S Broadway in Crown Point, Ind.

Prior to completion of the sale, HSA PrimeCare executed a long-term lease with APAC Centers for Pain Management (“APAC”)—a physician group specializing in the diagnosis, treatment, and management of chronic and spinal pain—to occupy the entire building.

 APAC, which has a network of physicians practicing in both Illinois and Indiana, will continue to operate its practice within Crown Point’s Penn Oak Business Park. Half of the facility is a Joint Commission accredited surgical suite and recovery, and the other half is utilized for physical therapy and offices.

Daniel F. Miranda

 “APAC has established a great patient base within a rapidly growing submarket in healthcare,” said Dan Miranda. “By monetizing this particular real estate asset, it should provide them with the opportunity to reinvest in and expand their practice to keep up with patient demand.”

                   

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-2523

Michael Waite of Easton & Associates Brokers $4.8 Million Sale of Airport West Industrial Property in Miami-Dade County

  

Michael Waite

DORAL, FL, May 12, 2014 — The Easton Group, a full-service commercial real estate firm based in Doral, Fla., arranged the sale of a 77,000 sq. ft. industrial building in the Airport West sub-market of Miami-Dade County.  

Prologis LP purchased the property from Gold Coast Beverage Distributors for $4.733 million.  Easton’s Michael Waite along with Jim Armstrong represented both parties in the transaction. 

 Gold Coast moved its business operations to a new location approximately five years ago, but retained ownership of the building and leased it out to USA Tile & Marble. Waite and Armstrong also represented the tenant in that lease transaction. 

 “Considering that Gold Coast was settled in a new location, we figured they would entertain the idea of selling their building, so we approached them about it and they were interested,” said Waite.

Jim Armstrong

 “We then identified an institutional investor that owns several other industrial properties in the area to see if they were interested in buying and they were.  We got a little creative and it turned out to be a win-win for both parties. 

“The challenge in the Miami industrial market is locating the deals that make sense as the capital is eagerly waiting on the sidelines to be placed.”

 The building is located at 7007 NW 30th Street in Miami.

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

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999/

954-290-0810

Chatham Lodging Announces Monthly Dividend

  

 PALM BEACH, FL  May 12, 2014—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, today announced that its board of trustees has declared a monthly common share dividend of $0.08 for May 2014.  

The common dividend is payable June 27, 2014, to shareholders of record on May 30, 2014..

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

Chris Daly                                                                                

Daly Gray Public Relations                                                   

(Media)                                                                                        

(703) 435-6293                                                                           

chris@dalygray.com

Dennis Craven

Chatham Lodging Trust

 (Company)

 (561) 227-1386  

dcraven@cl-trust.com

PwC US Signs 13-year Lease to Occupy New Office in Downtown Miami

Wells Fargo Center, 333 SE 2nd Avenue, Downtown Miami, FL

 

Brian Gale

MIAMI, FL -- PwC US  has made a major commitment to the region by signing a 13-year lease with MetLife, Inc. for 43,277 square feet at the Wells Fargo Center in downtown Miami. Approximately 300 PwC partners and professionals will make their move into the Gold LEED-certified building located at 333 SE 2nd

Avenue in February 2015.

Taylor & Mathis Partner Brian Gale negotiated the lease on behalf of the

landlord, MetLife.  PwC was represented by co-brokers Gregg Middelton and

Carter Hopkins of CBRE.

 “We are ecstatic to add another top notch firm to our tenant roster at Wells Fargo Center” said Gale. “This is the second credit tenant moving from Brickell Avenue to Wells Fargo Center in Downtown Miami in the last 4 months. Wells Fargo Center has leased over 150,000 square feet of new leases in the last 16 months.”  

 In January Gale announced a 35,358 SF lease for GrayRobinson at Wells Fargo Center.

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

Brian Gale

bgale@taylormathis.com

(305) 476-8880

RealtyTrac Reports All-Cash Share of U.S. Residential Sales Reaches New High in First Quarter Even as Institutional Investor Share of Sales Drops to Lowest Level Since Q1 2012

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q1 2014 U.S. Institutional Investor & Cash Sales Report, which shows the share of all-cash sales reached a new high in the first quarter even as the share of institutional investor purchases dropped to the lowest level since the first quarter of 2012.

Daren Blomquist

The report shows 42.7 percent of all U.S. residential property sales in the first quarter were all-cash purchases, up from 37.8 percent in the previous quarter and up from 19.1 percent in the first quarter of 2013 to the highest level since RealtyTrac began tracking all-cash purchases in the first quarter of 2011.

 “Strict lending standards combined with low inventory continue to give the advantage to investors and other cash buyers in this housing market,” said Daren Blomquist, vice president at RealtyTrac.

“The good news is that as institutional investors pull back their purchasing in many markets across the country, there is still strong demand from other cash buyers — including individual investors, second-home buyers and even owner-occupant buyers — to fill the vacuum of demand left by institutional investors.”

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

Jennifer von Pohlmann

 949.502.8300

949.502.8300, ext. 139

 jennifer.vonpohlmann@realtytrac.com

NAI Realvest negotiates leases totaling more than 25,700 square feet at South Seminole Industrial Center in Longwood, FL

Michael Heidrich

ORLANDO, Fla. – NAI Realvest recently negotiated two industrial leases that total 25,776 square feet at 1175 Florida Central Parkway in South Seminole Industrial Center in Longwood.

 Michael Heidrich, a principal at NAI Realvest, negotiated the transactions representing the landlord New York based Eckstein Properties, LLC. 

 Gamus LLC of Lynwood, Wash. leased 10,377 square feet in Suite 3000.  Jason Toll of NAI Realvest represented the tenant.

 Distributors’ Source of Florida, Inc. renewed its lease of Suite 3400 with 15,399 square feet.  There was no additional broker for this lease.

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

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

     

Chatham Lodging Trust Announces 7.8 Percent First Quarter RevPAR Increase

Jeffrey H. Fisher

PALM BEACH, FL -- Chatham Lodging Trust (NYSE:CLDT), a hotel real estate investment trust (REIT) that owns wholly or through its joint ventures 77 premium-branded, upscale, extended-stay and select-service hotels, announced results for the quarter ended March 31, 2014.

Growth was strong across the portfolio, including RevPAR at hotels acquired in 2013 rising 7.0 percent and RevPAR at our recently rebranded Washington, D.C. Residence Inn jumping 57.3 percent after a decline of 34.7 percent last year.

“It has been a great start to the year with RevPAR growth of 7.8 percent driven by 11 of our 25, or 44 percent, of our hotels producing double-digit improvements,” noted Jeffrey H. Fisher, Chatham’s president and chief executive officer.

“Particularly strong markets for us in the quarter were Anaheim, Boston, Denver, Houston, Nashville and Orlando. First quarter revenue outperformed our guidance of 3-4 percent with RevPAR growth strengthening throughout the quarter after moderate growth of 4 percent in January.”

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

Chatham Lodging Trust

Dennis Craven, 561-227-1386

Chief Financial Officer

or

Media:

Daly Gray, Inc.

Chris Daly, 703-435-6293

Marcus & Millichap Sells the Sleep Inn in Destin, FL

Sleep Inn, 10775 Emerald Coast Parkway, Destin, FL

Jonathan S. Ruprai

DESTIN, FL – 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 Sleep Inn, a 76-room limited service hotel located in Destin, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office

Jonathan S. Ruprai, a senior associate and a director of the firm's national hospitality group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.

The Sleep Inn is located at 10775 Emerald Coast Parkway in Destin, Fla.  The hotel was constructed in 1992 and went through a full renovation in 2012.  

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

Richard D. Matricaria

Regional Manager

Tampa, FL

(813) 387-4700

Hillsborough County, FL Apartment Community Sells for $725,000

Francesco P. Carriera

TAMPA, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Capri Manor Apartments, a 16-unit apartment complex located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $725,000.

Francesco P. Carriera and Michael P. Regan, both vice presidents investments and Joshua Teplitzky, investment specialist all in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

Built in 1972 through 2005, and located at 9604 Davis Road in Tampa, Fla., Capri Manor Apartments consists of eight, one-story buildings.

Michael P. Regan

 The buildings feature 16 two-bedroom/one-bathroom units ranging between 800 and 950 rentable square feet.  The property sits on a spacious 2.09 acre site and four of the units have central heat and air-conditioning. 

Amenities include washer and dryer connections in all units.  Capri Manor Apartments is located within five miles of the University of South Florida, Bush Gardens and Adventure Island.

“This property is a duplex community and was a lucrative acquisition for the buyer due to the 2005 vintage of several of the buildings,” says Teplitzky. “The previous owner managed the property since the early 1970’s and leased several units at the top end of the rental range in the surrounding area.”

Joshua Teplitzky

“The current spread between interest rates and cap rates also helped drive the sales price in this transaction” concludes Teplitzky.

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

Richard D. Matricaria

Regional Manager

Tampa, FL

(813) 387-4700

IPA Sells West Los Angeles Apartment Complex

  

Keswich Court Apartments, Culver City, CA

  

Greg Harris

CULVER CITY, CA – Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Keswick Court Apartments, a 60-unit apartment complex in Culver City, Calif.

            IPA executive director Greg Harris, along with IPA directors Kevin Green and Joseph Grabiec, advised the seller, MWest.

Marcus & Millichap vice president investments Matt Ziegler advised the buyer, a local family owner/operator who purchased the property as the upleg in a 1031 exchange. 

            “Keswick Court Apartments is a sizeable non-rent-controlled asset in a market where there is demand for luxury apartment homes, a significant affordability gap to home ownership, and a scarcity of new supply,” says Harris.

Kevin Green

“The property received extensive exterior and structural/mechanical systems upgrades from 2011 to 2012 and additional revenue-generating improvement opportunities exist, allowing the new owner to modernize while maintaining insulation from the rents of more recently constructed apartment homes.”

            Built in 1957, the apartment community is located at 3902 Lenawee Ave. near high-end restaurants and retail in downtown Culver City, Calif. Employment centers in Century City, downtown Los Angeles, South Bay and Westside Los Angeles are nearby. A stop on the newly opened Expo Metro line that connects Culver City to all of Los Angeles is just two miles away.

            Community amenities at Keswick Court include a swimming pool, an outdoor barbecue and lounge area, lushly landscaped interior courtyards, laundry facilities, and gated/covered parking.

Joseph Grabiec

Thirty-five units have been renovated and feature high-quality finishes, including fully equipped kitchens with new appliances, granite countertops, stainless-steel sinks, new cabinet faces, vinyl plank- wood flooring, plush carpeting, mirrored wardrobes, modern bathroom vanities and sinks, ceiling fans and spacious closets.

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

Gina Relva

Public Relations Manager

(925) 953-1716

JLL Closes $9 Million Sale of 5th Street Industrial in Phoenix, AZ for Clarion Partners

Rendering of 5th Street Industrial building, 3405--3445 5th Street, Phoenix, AZ

  

Mark Detmer

 PHOENIX, AZ – The Phoenix office of JLL has completed the $9 million sale of 5th Street Industrial, a 110,000-square-foot industrial building at 3405-3445 S. 5th Street in Phoenix.

The deal bolsters the rapid recovery of Phoenix industrial space in the 50,000 – 150,000-square-foot range, as highlighted in the first quarter Phoenix Industrial Report released last week by JLL’s local research team.

JLL Managing Directors Mark Detmer and Bo Mills were the industrial capital markets brokers involved with the sale between the property seller, Clarion Partners, and the property buyer, DCT Industrial Trust.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and Associate Kyle Westfall, are the project’s local market leasing brokers.

“This size and type of Phoenix industrial space is definitely outperforming the larger blocks of space in the local industrial sector,” said Detmer. “That is not to say that other blocks of space haven’t entered the recovery cycle. They just haven’t done so at this same rapid clip.”

Bo Mills

“The 5th Street Industrial asset is irreplaceable for a number of reasons,” said Sayre. “It has an excellent location west of the I-10 in the heart of the Airport submarket.

" It is fully leased to a long-term credit tenant, and it was priced at a point that allows the new owner, DCT Industrial Trust, to take advantage of some strong investment upside potential. This is a compelling combination.”

According to JLL’s most recent research report, Phoenix’s Q1 industrial absorption—totalling 829,777 square feet—was driven primarily by users in the 50,000 – 150,000-square-foot range. Leasing activity among this user type has increased in lockstep with the recovering economy.

Built in 1986, 5th Street Industrial includes 26-foot clear height, grade- and dock-level loading, and A-2 zoning on 6.55 acres.

“DCT is pleased to add 5th Street to our Phoenix portfolio, a 100 percent occupied building with a credit tenant,” said Mark Bowen, Regional Vice President at DCT Industrial. 

Steve Sayre

“This acquisition demonstrates DCT’s focus on continually upgrading our portfolio in our focus markets, with the acquisition of Class-A buildings in highly desirable submarkets.”

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com