Beau Moultrie Joins Crossman & Co.’s Atlanta Office

Beau Moultrie

ATLANTA, GA,  Sept.4, 2014 --Crossman & Company continues to expand throughout the Southeast. Due to the rapid growth of the leasing portfolio, the company has expanded their leasing team to include Beau Moultrie, a new Leasing Associate in the Atlanta office.

Prior to joining Crossman & Company, Beau was a Property Agent for Roberts Commercial Real Estate Services where he leased/managed retail shopping centers and office parks.

 Preceding his work at Roberts Commercial, Moultrie attended F.S.U.'s College of Business where he obtained his finance degree with an emphasis in commercial real estate.

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

Sydnie Cobb

Phone  407.581.6223 | Email  marketing@crossmanco.com

 Crossman & Company | 6400 Powers Ferry Rd. NW | Suite 300 Atlanta, GA 30339

Plaza Advisors Announces Sale of French Golden Gate Shopping Center in Bartow, FL

French Golden Gate Shopping Center, Bartow, FL

BARTOW, FL -- Plaza Advisors is pleased to announce the sale of the French Golden Gate Shopping Center in Bartow, Florida.

The shopping center is situated at the intersection of SR 60 and US Highway 98 and totals 141,350 square feet of gross leasable area.

The major tenants include Publix, Beall’s Outlet, Pet Supermarket and freestanding Walgreens and Burger King locations.

 The Publix store was the third store to open in the chain’s history and was originally constructed in 1960.

Jim Michalak

New Publix, Beall’s Outlet, Walgreens and Burger King stores were constructed and began operating in 2011. The property was 83% leased at the time of sale.

 Jim Michalak and Mike Cvetetic of Plaza Advisors represented the seller in the transaction. No other brokers were involved in the sale. The seller and buyer were French Golden Gate LLC and The Phillips Edison Group LLC, respectively. 

 “The capital market demand, including debt providers, for Publix anchored assets is overwhelming which commonly results in a tremendous amount of investor interest and elevated pricing” Jim Michalak stated.

Additionally Michalak emphasized that “the compelling reasons for the aggressive bidding for this asset were: the new Publix, Walgreens, Burger King and Beall’s Outlet long-term leases, investment grade credit and the 24,000 sf of vacant space, which presents considerable NOI growth potential”.

Mike Cvetetic

 Plaza Advisors specializes in the disposition of anchored shopping centers located throughout Florida. The company has successfully closed nine centers since December 2013. Those closings included: six Winn Dixie and two Publix anchored assets.

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

Jim Michalak

Managing Partner

Plaza Advisors

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 101

Fax 831.2627

jim.michalak@plazadvisors.com

www.plazadvisors.com

RECI Reports Interest Rates Continue to Drop as Investors Seek Safety

Jeanne Peck

CHICAGO, IL – Real Estate Capital Institute Reports Interest rates continue to decline as

bond investors seek safety from geopolitical turmoil, rather than worrying
about inflation fears.  

By the end of August, even as the US economy shows
favorable gains (e.g.,  a seven-year low in jobless claims), treasury yields
reached a 15-month low due to the problems facing Europe and the Middle
East.

Real estate capital markets are the beneficiaries of continued global
unrest.  

Therefore, expect another banner year for commercial and multifamily lending.   Borrowers want low rates; Debt investors want safer
yields with some reasonable premium.  

Commercial mortgage markets fill the void in comparison to other investment vehicles, BBB-rated bonds, for
instance.   A clear sign of this investment trend includes life insurance
companies increasing their allocation to mortgages, looking to raise
allocations to as much a 15% of their portfolios.

Ultimately, anticipation of the Fed's raising rates in the near future
should pose a challenge to realty investors seeking various types of
longer-term debt.  But for now with more pressure to fund longer-term
commercial mortgage loans, underwriting standards are loosening based on
intense competition from banks, Wall Street and life companies.  The net
result includes higher leverage, more interest-only underwriting and less
restrictive property-type and location profiles.   Rating agencies and loan
underwriters still maintain discipline, mainly by focusing on higher-quality
transactions within various sectors backed by proven sponsorship.

Overall mortgage rates are regularly dipping below 4% for 10-year money,
even for fully leverage loans. Meanwhile, short term rates remain unchanged
as borrowers enjoy floating-rate debt priced at generationally low levels.
Property owners enjoy selling at record high prices, or financing at record
low interest rates. Both scenarios are "win-win," as pricing on realty debt
and equity return to levels not seen since 2006-07.


Jeanne Peck, the director of the real estate capital Institute, advises "The
notion of real estate as an illiquid asset is changing-especially going into
an economic upturn (though slow).  Investors love brick-and-mortar, whether
debt or equity.   More and more people understand it as an institutional
investment vehicle offering competitive yields with solid collateral."

The Real Estate Capital Institute(r) is a volunteer-based research
organization that tracks realty rates data for debt and equity yields.  The
Institute posts daily and historical benchmark rates including treasuries,
bank prime and LIBOR.  Furthermore, call the Real Estate Capital RateLine at
7RE-CAPITAL (773-227-4825) for daily rate updates.

The   Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Executive Director
director@reci.com 
www.reci.com

NAI Realvest Negotiates Lease of 35,120 square foot office building in the Florida Central Industrial Park in Longwood, FL

Tom R. Kelley II

ORLANDO, FL - NAI Realvest recently negotiated a long term lease of 1124 Florida Central Parkway, a 35,120 square foot office/warehouse building in the industrial community located off SR 434 and 427 in Longwood.

Tom R. Kelley II, CCIM, a principal in the firm, and associate Chris Adams negotiated the lease on behalf of the Chicago-based landlord, G&G Partners, LLC.   

 Tenant TopTech Systems, Inc. which is a major supplier of terminal automation systems to major companies in the petroleum industry, leased the two-story building for its national headquarters.

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

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

Sale of 482-unit Waterfield Court Apartments in suburban Denver, CO closed by HFF

Jordan Robbins

DENVER, CO – HFF announced it has closed the sale of Waterfield Court, a 482-unit, garden-style multi-housing community in Aurora, Colorado.

                HFF marketed the property on behalf of the seller.  Aragon Holdings, LLC purchased the asset free and clear of existing debt.

 

                Waterfield Court is located at 3499 South Uravan Way near the intersection of East Hampden Avenue and South Buckley Road and is situated within proximity of the Denver Tech Center and Southeast Business Corridor, which encompasses more than 34 million square feet of office space.  

The property was more than 97 percent leased at the time of sale and includes one- and two-bedroom units averaging 792 square feet.  Community amenities include two swimming pools, indoor spa, basketball court, clubhouse and pet park.

Jeff Haag

                The HFF team representing the seller was led by director Jordan Robbins, associate director Jeff Haag and real estate analyst Jared Buffington.

                Aragon Holdings is a private real estate investment and fund management company headquartered in Los Angeles, California.  Founded in 2008, the firm has since acquired nearly 10,000 apartment units in 10 major metropolitan cities within seven states across the U.S.

 Aragon’s team is comprised of real estate, fund management and financial professionals that collectively have more than 75 years of experience successfully acquiring, building, developing, financing and operating commercial and residential real estate.  

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of Class A multi-housing community in Hillsboro, OR

Ira Virden

PORTLAND, OR – HFF announced it has closed the sale of Seneca Village Apartments, a Class A, 264-unit multi-housing community in Hillsboro, Oregon.

                HFF marketed the property on behalf of an institutional client of Invesco Real Estate.  Greystar Real Estate Partners purchased the community for an undisclosed amount.

                Seneca Village Apartments consists of 12 apartment buildings containing 156 one-bedroom units, 100 two-bedroom units and 8 three-bedroom units. 

Community amenities include a swimming pool and hot tub, barbecue area, clubhouse, business center, covered parking and detached garages. 

  The property is situated on 11.8 acres at 6710 NE Vinings Way, which is considered to be the “Silicon Forest,” named for its proximity to tech companies Intel, Sales Force, TriQuint, Geetch and Oracle.

Kerry Hughes

 The property is 14.7 miles west of downtown Portland and within a five-mile walk to two neighborhood shopping centers. 

 It is a half mile away from the Orenco/NW 231st Avenue MAX Light Rail Station that connects to downtown Portland and the Portland International Airport.

                The HFF investment sales team was led by director Ira Virden and associate director Kerry Hughes.

“The ability to buy late 1990’s construction with nine-foot ceilings, and close proximity to high-paying tech jobs is extremely rare in Portland,” Virden said. 

 “Seneca Village will benefit from the new construction in Orenco Station, and by implementing a value-add business plan, it will continue to be an extremely strong performer.”

Additional information is available at invescorealestate.com.

To learn more about Greystar, visit www.greystar.com.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF secures $95.2 million financing for multi-state suburban office portfolio in Connecticut and New York

Jon Mikula

 FLORHAM PARK, NJ - HFF announced it has secured $95.2 million to finance the acquisition of six office properties totaling 780,781 square feet in Connecticut and New York.

HFF placed the three-year, floating-rate loan with Cornerstone Real Estate Advisers LLC, acting on behalf of its clients. 

Keystone Property Group, which acquired the properties through a joint venture with Mack-Cali Realty Corporation as part of a larger portfolio deal, will use a portion of the loan to fund upgrades to the properties. 

 In July, HFF secured $47.5 million to finance the acquisition of 412 Mt. Kemble Avenue in Morris Township, New Jersey, another property in the portfolio deal between Keystone and Mack-Cali.

The properties in the latest acquisition include Soundview Plaza located at 1266 E. Main Street in Stamford, Connecticut; 555, 565 and 570 Taxter Road in Elmsford, New York; and Talleyrand Office Park, comprising two buildings at 200 and 220 White Plains Road in Tarrytown, New York. 

Jim Cadranell

The 179,610-square-foot Soundview Plaza is located 1.5 miles from Interstate 95 in the Stamford submarket.  Renovated in 2001, the seven-story building is situated on 1.82 acres and includes a 205,075-square-foot parking garage. 

The Class A Taxter Road office buildings total 422,422 square feet and are situated at the Interstate 87-287 junction approximately 29 miles north of New York City.  The buildings were constructed in 1972, 1985 and 1988. 

Talleyrand Office Park is located 25 miles north of midtown Manhattan and contains two 89,000-square-foot, six-story buildings, which are part of a 12.856-acre park.

The HFF debt placement team was led by senior managing director Jon Mikula, managing director Jim Cadranell and associate director Andy Roland.

“HFF is proud to have played a role in Keystone and Mack-Cali’s strategic vision for these well-located buildings,” Mikula said.

For more information, visit www.cornerstoneadvisers.com.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF arranges financing for Hyatt Place Houston/Sugar Land in Sugar Land, TX

John Bourret

DALLAS, TX – HFF announced it has arranged an acquisition financing for the Hyatt Place Houston/Sugar Land, a 214-room hotel in Sugar Land, Texas.

Working on behalf of the borrower, Noble Investment Group, HFF placed the five-year, floating-rate loan with Texas Capital Bank. 

The Hyatt Place Houston/Sugar Land is located on 3.69 acres at 16730 Creek Bend Drive in Sugar Land at the intersection of Highway 6 and U.S. 59. 

The hotel, which opened in 2010, has 6,000 square feet of meeting space, round-the-clock food and beverage options, outdoor swimming pool, express check-in and check-out kiosks, complimentary shuttle service and a 24-hour fitness room and business center.

The HFF debt placement team representing the borrower was led by managing director John Bourret and director Colby Mueck.

Colby Mueck

Founded in 1993, the Noble organization specializes in making value-added, opportunistic investments in the lodging and hospitality real estate sector. 

Through its private equity real estate funds, Noble has invested more than $2.5 billion in upper upscale and upscale hotels located throughout the United States, which are affiliated with premium brands by Marriott, Hyatt, Hilton and Starwood. 

For additional information, please visit www.nobleinvestment.com.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of two Class A office buildings in Austin, TX

Barton Oaks Plaza II and III, Austin, TX

DALLAS, TX – HFF announced it has closed the sale of Barton  Oaks Plaza II and III, two Class A office buildings totaling 237,835 square feet in southwest Austin.

HFF marketed the property exclusively on behalf of the seller, a joint venture between HPI Real Estate and Sarofim Realty Advisors.

 Invesco Real Estate purchased the assets for an undisclosed amount. 

Barton Oaks Plaza II and III are located on 6.79 acres in the Barton Oaks Plaza complex at the intersection of MoPac Expressway and Bee Caves Road. 

The buildings, approximately five minutes from downtown, are close to the Austin residential neighborhoods of Tarrytown, Rollingwood and West Lake Hills.

 The five-story buildings are 90 percent leased to a variety of tenants, including Fiserv Solutions, Graeber Simmons & Cowan, American Association of Nurse Practitioners, Oppenheimer and Parsons Brinkerhoff. 

Additional information is available at invescorealestate.com.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

Chick-fil-A Signs Long-Term Lease for 111,252-Square-Foot Industrial Facility Near Atlanta Airport

Rendering of Airport West Distribution Center
near Atlanta's Hartsfield International Airport

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) is developing a 111,252-square-foot industrial facility at Airport West Distribution Center near Atlanta’s Hartsfield International Airport.

Denton Shamburger

Chick-fil-A, whose corporate headquarters on Buffington Road is across the street from Airport West, has signed a long-term lease to fully occupy the building upon its completion in January 2015.

 Denton Shamburger, vice president for Lincoln, represented the landlord, Morgan Stanley, in the lease and was the only broker involved in the transaction.

 The lease means Chick-fil-A will occupy nearly 85 percent of Airport West when the third building in the park is completed. Airport West currently features two buildings totaling 287,703 square feet, of which Chick-fil-A occupies 221,449 square feet.

 “Airport West has been a great success story, and Denton has done an outstanding job of leasing this industrial park,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office. “Chick-fil-A is every owner’s dream tenant, and we are proud to be able to call them one of our valued clients

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

Smith Equities Negotiates Sales of Two Student Housing Communities in Tampa, FL Totaling $22.3 Million

TAMPA, FL (Aug. 28, 2014)  –Orlando-based Smith Equities Real Estate Investment Advisors  “SEREIA” recently  arranged  the  sale  of  two  “purpose” built  student  housing communities serving the University of South Florida (USF).

Geoff Harlan

 Campus Club, built in 2005, is a 64 unit, 256 bedroom community on East Fletcher that sold  for  $10.5  million.  Campus  Club  has  all  4  bedrooms,  4.5  baths  and  is  the  only property to have the extra half bath in the USF market.

College Court, built in 2004, is a 92 unit, 356 bedroom community on North 56th Street that sold for $11.8 million. College Court has apartments that are a mix of 3 bedrooms, 3 baths and 4 bedrooms, 4 baths.

Both communities are gated and have resort style pools.

Paul  Guyet  and  Geoff  Harlan  of  Smith  Equities  teamed  up  to  work  with  two  different sellers to secure one buyer for both properties.

“Since no new student housing communities were built this past year and enrollment was up, the off-campus market was very active this past leasing cycle” stated Mr. Guyet.

“In addition, a major business publication just reported that USF intends to double its student body which will fuel more investment in this market”.

“Although both of these properties were owned by different sellers, we were able to put both under contract with the same investor” stated Mr. Harlan.

Paul Guyet

 “Since the properties were so close to each other physically, we saw value in presenting them together to investors that were looking for opportunities in the USF student housing market.”

“Smaller Student Housing Properties represent a unique challenge to sell,” said Robert Smith, CCIM, president and founder of Smith Equities Real Estate Investment Advisors.

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

Paul M. Guyet, 407.422.0704, ext. 105

pguyet@smithequitiescorp.com

IPA Sells 328 Multifamily Units in San Antonio, TX

Will Balthrope

SAN ANTONIO, TX – Institutional Property Advisors (IPA), a division of Marcus & Millichap serving the needs of institutional and major private real estate investors, has arranged the sale of 328 multifamily units in San Antonio. The property’s name and transaction details were not disclosed.

            IPA executive director Will Balthrope represented both parties in the transaction.

            “The property is a first generation value-add opportunity,” says Balthrope. “It has been well maintained since its build in the mid-2000s. The implementation of a luxury enhancement package should allow management to push rents to the level of the neighboring peer assets.”

            Located in San Antonio, the property is close to the some of the city’s strongest employment centers. Units feature Whirlpool appliances, European cabinetry with decorative hardware, nine-foot vaulted ceilings and garden-style oval tubs. 

Community amenities include a resort-style pool with fountains, a 24-hour state-of-the-art fitness center, a complimentary tanning studio and an executive business center.

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

 Gina Relva

Public Relations Manager

(925) 953-1716

Retail Center in The Woodlands, Texas, Changes Hands

  

Nate Newman

 THE WOODLANDS, TX– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 242 Crossing, a 41,721-square-foot retail center in The Woodlands, Texas.

The exact terms of the sale were not released, however, the asking price was more than $11,500,000.

            Nate Newman, an associate in The Woodlands office of Marcus & Millichap, represented the seller, a well-established local developer.

            “The center sits at the southeast corner of Interstate 45 and FM 242 at the north entrance to The Woodlands,” says Newman.  “It was highly desired by the undisclosed buyer, who wanted to control the hard corner due to their plans for the surrounding development.”

            “The strategic nature of the parcel and keeping the identity of the buyer confidential prior to closing added to the complexity of the transaction,” Newman continues. “The property has benefited greatly from the large amount of new development in the area, including the 385-acre, three-million-square-foot ExxonMobil headquarters and the more than four million square feet currently being developed in The Woodlands.”

The Woodlands development, Woodlands, TX

            The center is located at 8000 Highway 242 in The Woodlands and is visible to more than 248,000 cars per day. The St. Luke’s Hospital district is across the interstate from the site. Annual median income in the area is $127,900.

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

 Gina Relva

Public Relations Manager

(925) 953-1716

Lincoln Harris Brokers CommunityOne’s New Office Lease in Raleigh, NC

Kaler Walker

RALEIGH, N.C. (Aug. 28, 2014) — Lincoln Harris has brokered CommunityOne Bank’s new lease of 4,871 square feet of office space at Rexwoods Center IV, located at 4325 Lake Boone Trail in Raleigh. 

CommunityOne Bank offers more than 50 branches and ATMs throughout North Carolina. This is the bank’s first office in Raleigh.

 Kaler Walker of Lincoln Harris’ Raleigh office brokered the lease on behalf of CommunityOne Bank. Highwoods Properties, the landlord, was self-represented by Jane Doggett.

 “Rexwoods Center IV is the perfect location for CommunityOne Bank’s new office because of its prime West Raleigh location, signage opportunities and easy access to I-40 and I-440,” Walker said.

 “Class A office space is disappearing in Raleigh, so tenants who are interested in higher quality space need to act quickly in order to get the best deals.”

Jane Doggett

 Rexwoods Center IV is a 42,331-square-foot Class A office building located in a campus in close proximity to Rex Hospital, banks, restaurants, neighborhoods and shopping. The building includes covered parking, fiber optic telecommunications and on-site maintenance.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O)

404-405-2354 (C)

sursery@thewilbertgroup.com

Lee & Associates Brokers Three Industrial and Office Leases Totaling 222,711 Square Feet in Atlanta’s Airport Submarket

Rick Tumlin

ATLANTA, GA (Aug. 28, 2014) — Lee & Associates’ Atlanta office has arranged three industrial and office leases totaling 222,711 square feet in the Airport submarket of Atlanta.

 Rick Tumlin and Mike Sutter of Lee & Associates, along with Mike Morgan of Interstate Tenant Advisors LLC, represented PrimeSource Building Products, Inc. in its lease of 159,153 square feet at 3060 South Park Blvd. in Ellenwood, Georgia.

The Dallas-based company signed a long-term lease with extensive tenant improvements. Sean Boswell of Colliers International represented the landlord, First Industrial Realty.

 The Fulton County Government signed a 53,558-square-foot expansion and long-term extension at 3025 Commerce Way in Hapeville, Georgia. Tumlin, Sutter and Billy Snowden of Lee & Associates represented Cobalt Capital Partners, the landlord, in the lease.

 Tumlin, Sutter and Scott Prather of Lee & Associates represented Prologis, the landlord, in the leasing of more than 10,000 square feet of office leases at 510 Plaza Drive in College Park, Georgia.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O)

404-405-2354 (C)

sursery@thewilbertgroup.com