Charles Dunn Company Completes $2.7 Million Sale of Retail Property Occupied by Bank of the West in Cerritos, CA

  

Bank of the West building, 17303 Carmenita Avenue, Cerritos, CA

  

Charles DeSantis

 LOS ANGELES, CA,  May 13, 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 3,600-square-foot, single-tenant, NNN-leased property fully occupied by Bank of the West.

The property is situated on .66 acres and is located at 17303 Carmenita Ave. in Cerritos, Calif.

Charles DeSantis and Kyle Gulock of Charles Dunn Company represented the seller, New York-based Big Four, LLC. The buyer was a private investor from Ontario, Calif. who was represented by Richard Lee of R & L Properties-Cerritos Inc.

“The property fell in the sweet spot of 1031 exchange investor criteria present in the market regarding price point and unleveraged return,” said Gulock.

 “We focused our marketing efforts both regionally and locally. We had multiple offers and were able to select the buyer with the highest price and best terms for our seller.”

Kyle Gulock

This is the second transaction DeSantis and Gulock have closed with their client, Big Four, LLC involving real estate with a financial institution as a tenant. The first occurred in February of this year on the $4.39 million sale of a 4,811-square-foot asset also occupied by Bank of the West in Huntington Beach.

 Additionally, this is the third bank-occupied property the team has closed in 2014. 

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

Faris Lee Investments Completes $11.5 Million Receivership Sale of a Major Portion of Spring Valley Town Center in Las Vegas

  

Lisa Brady

 LAS VEGAS, NV – Faris Lee Investments, a leading retail advisory and brokerage services firm, has completed the $11.5 million sale of a 60,105-square-foot portion of Spring Valley Town Center in Las Vegas.

The retail property was 92 percent occupied at the close of escrow with tenants including The UPS Store, 7 Eleven, GNC, Fatburger, and others.

Tenants within the center that weren’t a part of the sale include anchor tenants La Bonita Supermarkets, Lee’s Discount Liquor and Bank of America.

              The disposition was a receivership sale. Robert Moore, Lisa Brady, and Katie Brase of the Las Vegas office of Faris Lee Investments represented David Jewkes of Integris Realty Services, who acted as court appointed receiver on behalf of the loan servicer Five Mile Capital.

Katie Brase

The all-cash buyer, First Allied Corporation, represented itself in the transaction. The transaction sold at a cap rate of 8.3 percent ($191 a foot) and provided the buyer with a value-add opportunity through lease-up of the vacant space and current lease expiration/turnover.

              Spring Valley Town Center totals nearly 267,000 square feet on 6.1 acres and is well-located on two signalized intersections at 6775 and 6847 W. Flamingo Rd. and 4122 and 4260 S. Rainbow Blvd.

It also offers strong street frontage, visibility and monument signage and is situated less than five miles from the Las Vegas strip with direct access from Flamingo Rd.

              “Investors are screaming for real estate ownership opportunities – which are scarce in the Las Vegas area – as the fundamentals are favorable, retail rents are moving upward, and economic recovery is in full force,” stated Moore, senior managing director with Faris Lee Investments.

Robert Moore

“Faris Lee garnered 15 solid offers on Spring Valley Town Center, making this a prime example of momentum in the market.” 

Moore also observed that the majority of the value-add retail product has been absorbed. “It is difficult to find opportunities at or less than replacement cost in Las Vegas.”

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

NAI Realvest Completes New Retail Lease for Upscale Resale Shop in Winter Haven, FL

Chris Adams

WINTER HAVEN, FL --- NAI Realvest recently completed a new retail lease agreement for 1,276 square feet at 98 Avenue A NE at the corner of First St. in Winter Haven.  

 NAI Realvest Associate Chris Adams negotiated the transaction on behalf of the local landlords Kathy Brinton and Trudy Adams.  

 The tenant Thrifty Chix, Inc. is an upscale resale shop. 

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142    

HFF hires Hal Reinauer as a director in its Boston office to focus on multi-housing debt and equity transactions

Hal Reinauer

BOSTON, MA – HFF announced today that Hal Reinauer has joined its Boston office as a director focusing on multi-housing debt and equity transactions in the northeastern United States.

               Mr. Reinauer joins HFF from Arbor Commercial Mortgage where he spent the last seven years, first as a senior underwriter (FNMA) and then as a director/producer for all multi-housing products. 

During his tenure there, he originated Fannie Mae, FHA, CMBS, bridge, mezzanine and preferred equity transactions on a national basis.  Prior to Arbor, Mr. Reinauer worked as a capital markets analyst at Northland Investment Corporation. 

He began his career in commercial real estate finance in 2004 as an analyst within the commercial real estate division of Citizens Bank.  Mr. Reinauer holds a Bachelor of Science degree from Alfred University College of Business in New York. 

               “HFF is excited to have Hal join our existing debt placement team here in Boston.  His background and familiarity of Fannie Mae financing will provide added value for HFF’s multi-housing clients looking to finance transactions in this space and we look forward to his contributions to the firm,” said Riaz Cassum, co-head and senior managing director of HFF’s Boston office.

 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

Philip Leabo Joins Bull Realty’s National Net Lease Investment Group in Atlanta

  

Philip Leabo

ATLANTA, GA (May 12, 2014) – Philip Leabo has joined Bull Realty, a U.S. commercial real estate sales, leasing and advisory firm headquartered in Atlanta, as a vice president in the firm’s National Net Lease Investment Group.

 Leabo has 15 years of experience in the commercial real estate industry. Previously, he was a member of Prudential Georgia Realty’s commercial division and The Wright Group. Leabo has experience in the finance industry as well, and has owned and operated a lumber sales and manufacturing business.

 Leabo will continue to assist investors with single-tenant net-lease investment properties, sale-leaseback transactions and 1031 exchanges.

“I am excited to join such a dedicated and talented team, and look forward to utilizing the platform to serve my existing client base and to assist new clients,” Leabo said.

Michael Bull

 “Net lease properties have been popular among investors during the recovery cycle, a trend we anticipate will continue,” said Michael Bull, CEO of Bull Realty and host of the nationally syndicated “Commercial Real Estate Show” radio program. 

“Leabo’s background and knowledge will help to continue to strengthen our Net Lease Investment Group moving forward.”

Leabo graduated from St. Andrews Presbyterian College with a Bachelor of Arts in Business and Finance. He is active as a Certified Commercial Investment designee (CCIM), and a member of the Commercial Board of Realtors and the Realtors Land Institute.

 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

Emerson International negotiates New and Expansion leases in Longwood, FL and Maitland, FL

Kenneth Koch

Altamonte Springs, FL --- Emerson International recently negotiated two leases — one in Maitland at 2600 Maitland Center Parkway and the other at Sanlando Center on West SR 434 in Longwood

Kenneth Koch, director of leasing at Emerson International said 2,595 square feet of Class A office space at 2600 Maitland Center Parkway was leased to the law firm of Starfield & Smith.  The tenant was represented by Colliers International and Koch represented the landlord Emerson International.

In Longwood at Emerson’s 2170 Sanlando Center Koch negotiated an expansion lease with JMHC, Inc. for 3,550 square feet. 

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies in the U.K. 

 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

   

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