HFF arranges $18.5 million financing for retail property in Tysons Corner, Virginia

CVS Pharmacy, Tysons Corner, VA

WASHINGTON, D.C. – HFF announced today that it has arranged $18.5 million in financing for Rappaport to acquire the newly constructed CVS in Tysons Corner, Virginia, located at the corner of Leesburg Pike (Route 7) and Gallows Road, across from Tysons Corner Center.

HFF worked exclusively on behalf of Rappaport to secure the seven-year, fixed-rate loan through EagleBank.  The HFF team representing the borrower was led by managing director Mark Remington.

“This was a win-win outcome, Rappaport benefitted from the competitive lending environment and EagleBank was able to expand its existing relationship with Rappaport,” said Remington.

Mark T. Remington

Rappaport provides a full spectrum of retail services including leasing, tenant representation, property management, construction management, development, marketing, consulting and receivership services for retail space in shopping centers and mixed-use properties throughout Washington, D.C., Maryland and Virginia.

Headquartered in McLean, Virginia, Rappaport’s portfolio includes retail space in urban and suburban locations owned by affiliates of Rappaport, many local investors, and institutional clients.

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

Northern Virginia Shopping Center to receive a new face and anchor space

Alan Roth

WASHINGTON, DC--(BUSINESS WIRE)-- Regency Centers (NYSE:REG) has announced that Kings Park Shopping Center of Burke, VA will be getting an updated facelift, enhanced common areas and structural expansion.

“When Giant expressed a desire to expand their existing 28,161 SF store to 52,000 SF, we saw the opportunity to improve the center overall and provide long-term benefit to the community,” began Alan Roth, Senior Vice President and Senior Market Officer for Regency Centers.

“Giant will close its store June 19th and build an expanded store to serve the 125,000+ residents within 3 miles of Kings Park.

“Regency Centers placed a keen focus on 'placemaking' by enhancing the overall experience for the customer. As a result, residents will not only see improvements to their shopping center with the traditional re-surface of the parking lot and updated façade, they will be thrilled with the warmth provided through new landscaping and the ability to mingle with neighbors in the new outdoor hardscape patio areas.”

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

Regency Centers Corporation

Eric Davidson, 904-598-7829

Communication Manager

ericdavidson@regencycenters.com

or

Alan Roth, 703-442-4304

Senior Vice President, Senior Market Officer

alanroth@regencycenters.com

Orlando’s SightPlan Appoints New Members to Board of Advisors

Alice Tanchel

ORLANDO, FL – Alice Tanchel, Francis Chow and Will Gorman have been appointed to the board of advisors for SightPlan, an Orlando-based software company focused on modernizing multifamily resident service and asset management with its approach to managing work orders, solving resident issues and enhancing asset value.

 Tanchel, managing director at Trammell Crow Residential; Chow, chief strategy officer at Renter’s Voice and Ellis Partners; and Gorman, chief architect at Pentaho, are all respected experts in their fields who bring distinct value to SightPlan, according to Joseph Westlake, co-founder of the company.

Francis Chow

 Westlake said Tanchel’s familiarity with multifamily operations and property development will provide insight as the company expands its footprint. 

Chow brings financial expertise and platform building to help measure resident loyalty, and Gorman’s technical background makes him an incredible resource to SightPlan’s development and product teams.

 The three join two other advisory board members: Nyla Westlake, president of asset management for Trammel Crow Residential, and Stephanie Brown, former vice president at Riverstone Residential.

 SightPlan is a member of the University of Central Florida Business Incubation Program.

Will Gorman

The University of Central Florida Business Incubation Program is a non-profit community resource, which provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises.

Since 1999, this award-winning program has helped hundreds of local startup companies (including nearly 150 current clients

and 100 graduates) reach their potential faster by providing vital business development resources.

With eight facilities throughout the region, the UCF Business Incubation Program is an economic development partnership between the University of Central Florida, the Florida High Tech Corridor Council, Orange, Osceola, Seminole and Volusia Counties, and the cities of Apopka, Kissimmee, Orlando, St. Cloud and Winter Springs.

Nyla Westlake

 From October 2011 to June 2013, the UCF network of current and graduated clients has helped create a total regional output of over $620 million resulting in a $6.16 return for every $1.00 invested in the program while sustaining (directly and indirectly) over 3,300 jobs in the Central Florida region.

For more information, visit www.incubator.ucf.edu.

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

Angela McCord, SightPlan, media@sightplan.com

 Melissa Wasserman, Site Manager, UCF Business Incubator-Orlando, 321-281-8384, Melissaw@ucf.edu

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

Cousins Properties Second Quarter Earnings Release And Conference Call Notice

ATLANTA, GA June 16, 2014 -- Cousins Properties Incorporated (NYSE: CUZ) today announced that it will release second quarter earnings after the market closes on Wednesday, July 30, 2014.

Cousins invites you to participate in its Second Quarter 2014 Conference Call Thursday, July 31, 2014, at 11 a.m. (Eastern Time). The number to call for this teleconference is (212) 231-2914. A 14-day playback will begin at 1:00 p.m. Eastern Time on July 31 and run through Thursday, August 14, 2014.

To access the playback, please dial (402) 977-9140 and enter the passcode 21720225. In addition, the replay can be accessed on the Company's website, www.cousinsproperties.com, through the "Q2 2014 Cousins Properties Incorporated Earnings Conference Call" link on the Investor Relations page.                   

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

Marli Quesinberry,

Director of Investor Relations and Corporate Communications,

 404-407-1898,

marliquesinberry@cousinsproperties.com

Odebrecht Construction Signs Lease at SunTrust Plaza in Coral Gables, FL

Donna Abood

MIAMI, FL, June 16, 2014 - Colliers International South Florida is pleased to announce that Odebrecht Construction, Inc. has leased 17,788 square feet at 201 Alhambra Circle in Coral Gables, known as SunTrust Plaza.

Donna Abood, Chairman & Founding Partner and Ericka Witkowski, Commercial Associate with Colliers International South Florida, represented Odebrecht.

The new space will serve as the construction company's U.S. headquarters. Previously Odebrecht was located on two separate floors in the same building and have now consolidated to the 10th floor of SunTrust Plaza.

"Odebrecht is such an iconic company that has deep roots here in Miami, fundamental in building it into the city it is today," says Abood.

 "It was such a pleasure working with Odebrecht in finding a space that would optimize their operations. Consolidating to the 10th floor of this building will allow that advantage," she adds.

Ericka Witkowski

Odebrecht is a global leader in engineering and construction services, founded seven decades ago. They entered the U.S. market in 1990 and have since delivered vital infrastructure projects for federal, state and local governments, as well as private developers.

Locally, they've worked on the American Airlines Arena, Adrienne Arsht Center for the Performing Arts, Miami Metromover and the expansion of Miami International Airport, among others.

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

Crystal Proenza

Vice President of Marketing and Culture

Colliers International South Florida

Commercial Real Estate Services

Tel: 305 476 7138

Email: crystal.proenza@colliers.com

www.colliers.com

Watt Communities of Arizona Announces $21 Million in New Metro Phoenix Residential Infill Construction

Steve Pritulsky

PHOENIX, AZ (June 16, 2014) – Watt Communities of Arizona has doubled its Phoenix project pipeline and brought its total local construction commitment to more than $21 million with the announcement of two new urban infill communities:

The Enclave at 32nd Street and 16 Ocotillo. The move grows the company’s local presence and expands its product offerings to include single-family detached homes and urban townhomes in close-in suburban neighborhoods.

 We now have four flags on the map representing two concepts that we are extremely proud of and excited to bring to Phoenix,” said Steve Pritulsky, President and CEO of Watt Communities of Arizona. 

“They are all decidedly infill locations and will feature innovative indoor-outdoor living styles that today’s buyers are looking for.”

 The Enclave at 32nd Street is located on 3.46 acres just south of the southwest corner of 32nd Street and Cactus Road, in the Paradise Valley Mall area of North Phoenix. The community is directly off of the 51/Piestewa Freeway and immediately north of the highly acclaimed Basis Charter School. It is also situated less than one mile from the Phoenix Mountain Preserve recreation area.

  

Paul Timm

Scheduled to break ground in late 2014, The Enclave includes 31 two-story, single-family detached homes ranging from approximately 1,700 to 2,200 square feet. 

All homes deliver a welcoming front porch concept, creative side patios, builder-installed front yards and common area landscaping, walkable interior courtyards, and private rear-entry, two-car garages.

 “This development is based on a private drive design developed by our partners in California, and is a unique concept here in Arizona,” said Paul Timm, COO of Watt Communities of Arizona. 

“Having just one point of entry for the community adds a level of privacy and allows residents to own a small oasis within a bustling urban corridor. It is innovative housing in and active location, but also peaceful.”

 The second community, 16 Ocotillo, sits on 2.8 acres at the southwest corner of 16th Street and Ocotillo Road, between Maryland and Glendale avenues in North Central Phoenix. 

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Lincoln Brokers Class A Office Leases Totaling 15,400 Square Feet in Orlando, FL

  

Robert Kellogg

 ORLANDO, FL (June 16, 2014) – Lincoln Property Company Southeast (Lincoln) has brokered Class A leases totaling 15,400 square feet in Orlando.

The details of the transactions are below:

• Blue Toad Inc. signed a long-term renewal of its 8,800-square-foot lease at Millenia Lakes II. Robert Kellogg, vice president of office leasing for Lincoln, represented the tenant and was the only broker involved in the transaction. Duke Realty is the landlord.

The 107,721-square-foot Millenia Lakes II is one of three Class A office buildings in the Millenia Lakes campus, which is located next to the Mall at Millenia.

• Gentiva Health Services signed a long-term renewal of its 6,600-square-foot lease at Baldwin Park II. Kellogg represented the landlord, MDS Baldwin Park LLC, and Jones Lang LaSalle represented the tenant.

The two-story, 34,089-square-foot Baldwin Park II is approximately five miles from Downtown Orlando, in Baldwin Park’s Village Center.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

Gary Sims Joins Pyramid Resorts Group as Senior Vice President

Gary L. Sims

BOSTON, MA, June 16, 2014—Officials of Pyramid Hotel Group, one of the nation’s largest, independent, hotel management companies, today announced Gary L. Sims has joined the company as senior vice president of Pyramid’s Resort Group.  He will be responsible for overseeing the company’s resort properties under management.

“Resort management is one of our core strengths, and Gary’s joining our senior management team reflects our continued commitment to be a leader in this specialized segment,” said Richard M. Kelleher, Pyramid’s principal and chief executive officer.

  “Our management team worked with Gary earlier in his career, and we have great confidence in his resort management abilities.  He brings unmatched experience in resorts from big-box to boutique, as well as a proven track record working with time-share properties.

 "His award-winning background includes some of America’s top branded and independent, five- and four-star resorts, as well as in-depth expertise in the Caribbean, Mexico and Central and South America.”

Richard M. Kelleher

            Sims previously was area managing director for Hilton Worldwide’s Las Vegas properties that generated $250 million in annual revenues, including four that were part of the Hilton Grand Vacation Division.  He is the former managing director of the 5-Star La Quinta Resort & PGA West—A Waldorf Astoria Resort.

 He oversaw the 800-room resort, 25,000 square-foot spa, 42 court tennis center and nine world-class golf courses, as well as some 650 annual transactions in condo and single family home sales.  During his tenure there, the resort was awarded Hilton’s Hotel of the Year, and Sims was named GM of the Year for Hilton.

            Prior to that, he was executive vice president and partner in Trust Hospitality, a third-party management company specializing in 4-Star luxury, boutique/lifestyle hotels, working on projects in Belize, St. Vincent & the Grenadines, Columbia, Honduras, Montenegro and Portugal. 

He previously was president and CEO of Nikki Beach Hotels & Resorts, a global brand that also included beach clubs, restaurants and night clubs.   He spent a decade with Starwood Hotels and Resorts Worldwide, Inc., rising through a number of area and resort management positions, culminating in being named vice president of development.  Sims also was a key manager during the rapid growth of Doubletree Hotel Company.

            Sims attended the University of Central Florida.  He is a Certified Hotel Administrator and is a member of the Board of Directors of Here’s Help Miami and the Board of Directors of the Palm Spring CVB.

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

Chris Daly

Daly Gray

(703) 435-6293

chris@dalygray.com

Thomas D. Wood and Company’s Sarasota, FL Office Secures $9,185,000 in Commercial Mortgage Transactions

Brad Cox

Sarasota, FL  – The Sarasota Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $9,185,000 in commercial mortgage transactions for properties throughout the state of Florida. 

  Interest rates continue to stay as low as 4.0%, contributing to the increase in successful closings.

 Senior Vice President Brad Cox, CCIM, accepted the challenge in securing financing in the amount of $1,100,000 for the Affordable Secure Self Storage in Hudson, Florida.

 The borrower wanted to refinance a loan that he used to purchase the self-storage facility from a distressed seller in 2012, and he wanted to include as collateral the adjacent property, which he was under contract to purchase for expansion purposes.

 Cox arranged permanent financing for the borrower with a three-year fixed rate and a 25-year amortization, at a very favorable interest rate of 4.25%.

Cox secured financing for the Temple Terrace Business Center in Temple Terrace, Florida, in the amount of $1,200,000 through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company. 

For his refinance, the borrower needed to close on a specific day to satisfy the terms of his existing mortgage.  Cox structured a loan with a fixed rate of 5.05%, based on a 15-year term and 20-year amortization.

Days Inn, Fort Myers, FL

Cox obtained financing for the Days Inn Hotel and Tiki Bar in Fort Myers, Florida, through Thomas D. Wood and Company’s correspondent relationship with The Standard, in the amount of $1,925,000.

The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.

Cox secured financing from The Standard for Plymouth and Regal Shopping Centers, a 70,000 square-foot retail property in Fort Myers, Florida, in the amount of $4,300,000.  The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.

 Cox also secured financing from The Standard for Palm River Business Park, a 22,500 square-foot industrial/flex property in Tampa, Florida, in the amount of $660,000.  The permanent fixed-rate loan has a term of 15 years with a 15-year amortization.

Temple Terrace Business Center
Temple Terrace, FL

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

Jessica Kinnee

Director of Marketing & Public Relations                       

Thomas D. Wood & Co.                                   (407) 374-0251                   

jessica@tdwood.com        

Griffin-American Healthcare REIT III Acquires DeKalb Professional Center Near Atlanta, GA

Dan Prosky

ATLANTA, GA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT has acquired DeKalb Professional Center, an approximately 19,000-square-foot medical office building in the Atlanta suburb of Lithonia. 

 Located at 5461 Hillandale Drive, DeKalb Professional Center is in the midst of a thriving medical corridor approximately one mile from DeKalb Medical Hillandale, a 100-bed acute care hospital.

Built in 2008, the medical office building is 81 percent leased to four tenants, including RMS Lifeline and The Emory Clinic, which combine to lease approximately 60 percent of the building’s rentable space through 2018.  In total, the weighted average remaining lease term for the building is more than six-and-a-half years.

“DeKalb Professional Center was built in 2008 and is a modern medical office building located in close proximity to a premier hospital in a thriving community,” said Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. 

 DeKalb Professional Center was acquired from McWhirter Realty Partners, LLC, an unaffiliated third party represented by CBRE’s Lee Asher and Chris Bodnar.  Griffin-American Healthcare REIT III financed the acquisition using cash on hand.  

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

Damon Elder                                                                                              

(949) 270-9207

delder@ahinvestors.com

Berger Commercial Realty Negotiates Four New Leases at Atrium West in Sunrise, FL

Joseph Byrnes

FORT LAUDERDALE, FL – Berger Commercial Realty brokers Joseph Byrnes and Jonathan Thiel recently closed four new leases for office space at Atrium West in Sunrise.

 Byrnes and Thiel represented landlord Atrium 93, LLC in closing a 5-year, 689-square-foot lease to All Care Health Services Marketing Corp., and a three-year, 1,494 square foot lease to ISR Transit Inc.

 In addition, Byrnes and Thiel represented the landlord in closing a one-year, 1,452 square foot lease to Nilsa Rivera, P.A., and an 18-month, 770 square foot lease to Concepta Business Solutions, LLC.

Jonathan Thiel

Located at 7771 West Oakland Park Blvd., the 92,689-square-foot Atrium West office building features a completely renovated atrium, a new interior sculpture fountain, new exterior landscaping, and renovated bathrooms.

 For more information on leases and custom build-outs at Atrium West, contact Berger Commercial Realty at 954-358-0900.

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

Marielle Sologuren

msologuren@piersongrant.com

(954) 776-1999, ext. 226

Corner Bakery Cafe to Open First Wisconsin Location at HSA Commercial’s The Mayfair Collection in Wauwatosa

Timothy Blum

CHICAGO, IL — Timothy Blum, executive vice president of Retail Development for HSA Commercial Real Estate, announced that Corner Bakery Cafe will open its first Wisconsin location later this year at The Mayfair Collection in Wauwatosa, Wis.

Neo Fourno Inc., a franchise partner of CBC Restaurant Corp. owned by experienced local restaurateurs Dimitri Dimitropoulos and Peter Dimitropoulos, will operate the 4,000-square-foot location near the entrance to the project at Burleigh Street and 114th Street.

 “We couldn’t be more thrilled that Corner Bakery Cafe has chosen The Mayfair Collection as the place to introduce its brand to the state of Wisconsin,” said Blum. 

“Though it took a little patience, we believe that we have found the best possible café and coffee shop for our customers and future residents to enjoy.”

Corner Bakery Cafe will begin construction within the next few weeks and is projecting to open later this year. Neo Fourno Inc. plans to open ten new cafes in Madison and Milwaukee over the next five years.

  

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

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

3,279—Unit Self-Storage Portfolio Sale Arranged by Marcus & Millichap in Arnold, MO

Storage Banc self-storage portfolio, Arnold, MO

ST. LOUIS, MO – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Storage Banc portfolio, a seven-property 404,578-net-rentable-square-foot self-storage portfolio with approximately 110,000 gross rentable square feet of climate-controlled warehouse space in suburban St. Louis, Mo.

The portfolio encompasses approximately 42.4 acres and consists of 3,279 storage units and 224 outdoor parking spaces. The terms of the sale were not released.

Sean Delaney

            Sean Delaney, vice president investments in Marcus & Millichap’s Chicago Oak Brook office, Brett Hatcher, senior associate in in the firm’s Columbus, Ohio office, Chico LeClaire, senior vice president investments, and Adam Schlosser, senior associate, both in Denver, represented the seller, a local private entity.

Brett Hatcher

The buyer is Sovran Self Storage Inc., a publicly traded real estate investment trust that operates its facilities under the Uncle Bob’s Self Storage® brand.

William Holman, senior associate in Marcus & Millichap’s St. Louis office, is the firm’s broker of record in Missouri. 

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap arranges sale of alcazar tower in coral gables, fl for $6.75 million

  

Alcazar Tower, Coral Gables, FL

 CORAL GABLES, 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 Alcazar Tower, a three-story, 37,000-square foot office building located in Coral Gables, Florida. The asset sold for $6,750,000 representing $185 per square foot.

Douglas K. Mandel, a first vice president investments, and Benjamin H. Silver, a senior associate, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami Beach. 

Douglas K. Mandel

The buyer, a limited liability company from Miami, was also secured and represented by Mandel and Silver.

“Alcazar Tower represented an opportunity to acquire a one-of -a-kind office building with a brand new bank lease and an attached private parking garage,” says Silver.

“ The buyer was attracted to the value-add opportunity of improving the common areas and leasing the remaining vacant space. The new ground floor bank tenant is an ideal anchor for the property.  

"That space alone brings up the quality of the entire building and should help pave the way for a substantial increase in leasing demand.”

Originally constructed in 1986 and designed by world renowned architecture firm Arquitectonica, the property consists of 36,440 rentable square feet plus an attached private parking garage together totaling 64,750 square feet.

Benjamin H. Silver

 The building boasts attractive marble common areas, high-speed elevators, covered parking, and 24-hour security and key card security access.

Alcazar Tower has great visibility and access from Alcazar Avenue and Le Jeune Road, a main north-south thoroughfare in Coral Gables and it is just a short walk from Alhambra Avenue and Miracle Mile.  Alcazar Tower is located at 2151 Le Jeune Road in Coral Gables.

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

Kirk A. Felici

First Vice President/Regional Manager,

Miami, FL

(786) 522-7000

Harvard Investments Partners with Lincoln Property Company to Develop Class A Office Park in Phoenix’s Southeast Valley

  

Riverview Point rendering, Southeast Valley, Phoenix, AZ

 PHOENIX, AZ – Harvard Investments announced it will partner with Lincoln Property Company (LPC) to develop the second and final phase of Riverview Point, a Class A office project directly adjacent to the 250-acre Mesa Riverview mixed-use property in Phoenix’s booming Southeast Valley.

The new Harvard-LPC development is located on the borders of Mesa, Tempe and Scottsdale, just six miles east of Phoenix Sky Harbor International Airport and accessed via Loop 101 at Rio Salado Parkway and via two full-diamond interchanges along the Loop 202 at Dobson and Alma School roads.

Harvard Investments purchased the 19.55-acre land parcel for the new project from Montana Avenue Capital this week. In conjunction with LPC, Harvard Investments will build two new, Class A office buildings on the site: a three-story, 150,000-square-foot building and a two-story, 105,000-square-foot building. LPC will direct development of the project. It will also market the opportunity to build-to-suit prospects and anchor tenants.

Craig Krumwiede

“This project represents all of the things that make the Southeast Valley so exceptional–retail, dining, entertainment, and corporate environments, all linked by some of the state’s best educational assets and busiest transportation corridors,” said Harvard Investments President Craig Krumwiede.

“These are key elements in an investment project, and they are what will make this property a strategic opportunity for companies looking for that next great address.”

Dave Carder, Luke Walker and Eric Schultz, from the Phoenix office of CBRE, brokered the land transaction and will assist with the project’s marketing and leasing efforts. The Davis Experience serves as the project architect and Wespac Construction serves as the general contractor.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com