Six/Ten signs energy company to Suites on Central office lease in Winter Haven, FL

Angela Harwell

Winter Haven, FL — Six/Ten LLC has leased office space in its newly modernized Suites on Central to Peninsula Energy Services Co. (PESCO), a wholly owned subsidiary of Chesapeake Utilities Corp. 

The company is moving its Florida administrative offices to the park-view corner suite at 347 W. Central Ave.

"Peninsula Energy is a perfect example of the diversity of our tenant mix at Suites on Central,” said Angela Harwell, CCIM and broker for Open Door Commercial Real Estate. 

She represented Six/Ten in leasing the 3,061-square-foot space.

"Suites on Central provides amenities such as common conference and break areas, contemporary finishes and fiber-to-desktop connectivity that office tenants find highly desirable," she said. "We are extremely pleased with the response and spaces are leasing quickly.”

Central Park Square, 347 West Central Avenue
Winter Haven, FL

Suites on Central occupies the second floor of Central Park Square.

 The historic building completed in 1914 has undergone complete updates to its plumbing, air conditioning, electrical and elevator systems. Suites ranging from 2,600 to 4,000 square feet are available now.

Central Park Square is adding to an urban rebirth of Winter Haven as Six/Ten purchases, renovates and leases office, retail and residential properties in the downtown district. The company is restoring historic buildings to their original, authentic architecture while updating their services.

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

Don Silver or Michelle Friedman

BoardroomPR

407-973-8555

donsil@boardroompr.com

mfriedman@boardroompr.com

FrontDoor Communities Wins Two PRISM Awards from the Charleston Home Builders Association

Kerry Mahoney

 CHARLESTON, SC – FrontDoor Communities is pleased to announce it has been awarded two 2014 PRISM Awards: “Best Product – Single Family Homes, $400,000-$450,000” for The Fogerty and “Best Model Home, $400,000-$500,000” for The Bermuda, two homes located at Tributary in Charleston.

Tributary is a thoughtfully designed residential community situated within Rivertowne Country Club in Mount Pleasant, Charleston’s most desirable neighborhood.

“We are honored to have received these prestigious awards for our beautiful homes at Tributary,” said Mark Lipsmeyer, vice president of FrontDoor Communities.

 “Tributary is truly a one-of-a-kind community, featuring thoughtfully designed homes by award-winning architects. The Fogerty and The Bermuda are two of Tributary’s hallmark homes, and we are thrilled to be recognized for them.” 

Mark Lipsmeyer

The PRISM Awards, presented by the Charleston Home Builders Association, recognize excellence in the field of sales, marketing and promotion of new homes in and around Charleston. 

The Fogerty took the prize for the top detached home between $400,000 and $450,000, and The Bermuda won for top model home between $400,000 and $500,000. 

Kerri Mahoney, salesperson at Tributary, also took home a PRISM Award for “Salesperson of the Year.”

To learn more about FrontDoor Communities, please visit: http://www.frontdoorcommunities.com/

To learn more about Tributary, please visit: http://www.tributarysc.com/tributary

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

M.C. Rhodes •The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0274  • M: 678-983-5867

www.thewilbertgroup.com

Concord Hospitality Managed HYATT house Boulder/Broomfield in Colorado Named Hotel of the Year

Hyatt House Boulder/Broomfield, between Denver and Boulder, Colorado

RALEIGH, NC — Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, announced that the company's HYATT house Boulder/Broomfield was named Hotel of the Year by Hyatt Hotels Corporation.

 The best in class award recognizes the hotel with the best combined RevPAR index, quality assurance audit and customer satisfaction scores.

Mark Laport

The award was presented by John Cantele, Hyatt's global head of select service.

“This Hotel of the Year award is particularly gratifying because it recognizes the team work and operational excellence that Concord-managed hotels are known for," said Mark Laport, Concord’s President and CEO.  

“Guests, and the brand experts alike see the effort put forth and the results achieved by Andra Alvarez and her team.  I'm not surprised, but I am very proud of their terrific work."

The 123-suite HYATT house Boulder/Broomfield is located midway between Denver and Boulder, putting the best of Colorado within easy reach.

 The all-suite hotel caters to extended stay business and leisure travelers with spacious residentially inspired suites, complimentary morning breakfast spreads with omelet bar and evening socials, as well as grocery shopping services, a 24-hour guest market, complimentary WiFi and a host of other amenities including special services for guests staying longer than 30 days.

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

Chris Daly

(703) 435-6293

Chris@dalygray.com

University of Wisconsin-South Plans Unique Degreed Program for Hospitality Managers

Eric Brey

Menomonie, WI — The University of Wisconsin-Stout is about to launch a unique master’s degree program to give established managers in the hospitality industry a chance to advance their careers.

 The Master of Science degree in hospitality strategy is intended for professionals who already have management experience, said Eric Brey, the new program’s director.

“We are focused on turning operational experience into leadership capabilities,” Brey said, “so all students will have to have some level of supervisory experience in an industry related to hospitality and tourism.”

While other institutions offer advanced degrees in hospitality and tourism, he said, no one offers the focused curriculum found in this program.

“It is the only program of its kind in the world,” Brey said. “We are the first program to focus on creating industry leaders who think strategically about business leadership by focusing on the needs of the customer.

A full description of the program is available at www.uwstout.edu/programs/mshs/index.cfm

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

Doug Mell

Executive Director of Communications and External Relations

715-232-1198

melld@uwstout.edu

PM Hospitality Strategies, Inc. Selected to Operate Two Newly Announced Canopy by Hilton Hotels

                        

Planned Canopy by Hilton Hotel, Portland, OR

WASHINGTON, DC —Officials of PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company, announced it has been selected to operate two of the first Canopy by Hilton hotels. 

  Located in Portland, Ore., (The Pearl District) and Rockville, Md., (Bethesda North - Pike and Rose) both hotels will be developed  by The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company.

 Hilton Worldwide recently launched the new lifestyle brand with the announcement that 11 hotels were in the development pipeline.

Joseph Bojanowski

“Our experience with lifestyle brands and familiarity with Hilton make us uniquely qualified to be among the first operators of this newly minted brand,” said Joseph Bojanowski, president of PMHS. 

“From the first 150-room Embassy Suites prototype to our numerous aloft hotels, PMHS has demonstrated its ability to add meaningful improvements to well respected, specialty hotel brands.”

The upper upscale brand is defined by four essential elements: great neighborhoods; comfort & design; more included value; and a “positively yours” culture.  

"Both Portland, Ore., and the outskirts of Washington, D.C., are high-demand destinations for today's travelers who seek out urban neighborhoods.  The Canopy brand, with its local orientation and included value pricing, will be a direct hit for those experience-oriented travelers,” Bojanowski noted.

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

For Immediate Release

Chris Daly media

(703) 435-6293

chris@dalygray.com

Naglreiter Consulting, LLC Moves to Miramar Park of Commerce in Miramar, FL

Miramar Park of Commerce, Miramar, FL

MIRAMAR, FL – Naglreiter Consulting, LLC has moved its headquarters to the Miramar Park of Commerce, the largest locally owned and managed Business Park in South Florida.

 The medical device development and engineering services company is leasing 10,260 sq. ft. of space in MPC-1B at 3451 Commerce Parkway in the Park for offices, an engineering laboratory, light manufacturing and research and development.

 “The Miramar Park of Commerce offers the perfect opportunity for Naglreiter to combine our research and development facilities with consultation office space," said Brett Naglreiter, president and CEO. “We had specific requirements and the space in the Park was flexible enough to accommodate our needs. It was the perfect relocation site for us.”

Maridee Bell

From concept to commercialization, Naglreiter Consulting, LLC has worked with numerous clients on all aspects of consultation for more than 20 years.

 Small businesses and Fortune 500 companies have utilized the company’s services and design alternatives to meet demand with cost effective solutions in the medical device industry.

 “Because the Park is locally owned and managed, we can quickly adapt existing space to meet the distinct space requirements for companies like Naglreiter,” said Maridee Bell, vice president of Sunbeam Properties, developer of the Park.

 “In addition to that, the Park provides a professional environment for companies as well as a convenient location with access to major roadways.”

 Representing the Park in the transaction was Ryan Goggins of Sunbeam Properties.

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

Kate Gallagher

Pierson Grant Public Relations

954-776-1999, ext. 242

kgallagher@piersongrant.com

$342,500 Sale of Plaza-View Apartments in Fort Myers, FL Brokered by Marcus & Millichap

Plaza-View Apartments, 2144 Illinois Avenue
Fort Myers, FL

FORT MYERS, 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 Plaza-View Apartments, a 12-unit apartment community located in Fort Myers, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $342,500.

Adam Podbelski, investment associate, Michael Donaldson, vice president investments, and Nicholas Meoli, senior investment associate, all in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

Adam Podbelski

Plaza-View Apartments is located at 2144 Illinois Avenue in Fort Myers, Florida.  This 12-unit apartment community consists of one, two-story, wood-frame building.

 Built in 1926, the structure has since received additional renovations, including a white EPDM roof in 2005 and a rear staircase in 2011. 

The property is situated on approximately 0.17 acres of land, just a quarter-mile from the Edison and Ford Winter Estates.

 Plaza-View is comprised of eight studios with approximately 500 rentable square feet and four, one-bedroom/one-bathroom units with approximately 600 rentable square feet.

“Having the second largest rental growth rate among U.S. markets in 2013, Fort Myers has continued to see increased demand, especially in highly desirable submarkets like the River District” says Podbelski. 

“Being in very close proximity to the downtown area and offering a strong value-add opportunity, the asset drew significant interest from both local and international investors.”

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Central Storage, 800 NW 31st Avenue
Pompano Beach, FL

POMPANO BEACH, 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 Central Storage, a 74,731-square foot, self-storage located in Pompano Beach, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $4,660,000.

Michael A. Mele, a senior vice president investments and Luke Elliott, an associate, both in Marcus & Millichap’s Tampa office, represented both parties in the transaction.

Michael A. Mele

Central Storage is located at 800 Northwest 31st Avenue in Pompano Beach, Florida.  This high-quality self-storage is comprised of 866-units.  

Central Storage offers indoor climate-controlled units of various sizes, drive-up storage and rentable RV, trailer or boat parking.  Units range in size from 28 to 960 square feet. 

  The facility was constructed in 1981 with tilt wall and concrete block.  There are five buildings on the property that spread across 2.98 acres. 

“This property offers a tremendous repositioning opportunity for the buyers” says Mele. “The significant competition we saw for this property shows the continued strong interest in South Florida self-storage.”  “With this sale our team has sold over $108,000,000 of self-storage in South Florida this year,” adds Elliott.

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Smith Equities nNegotiates Sale of 29 Unit Apartment Community in Orlando, FL Area for $1.75 Million

Eastbrook Apartments, Eastbrook Boulevard, Winter Park, FL

ORLANDO, FL – Orlando-based Smith Equities Real Estate Investment Advisors “SEREIA” recently arranged the sale of an apartment community located east of Semoran Boulevard that serves the Winter Park, Florida market.

Eastbrook Apartments, built in 1968, is a 29 unit community located on the corner of Howell Branch Road and Eastbrook Boulevard in Winter Park. There are two buildings, one on each side of Eastbrook Boulevard. The property has some of the largest floor plans in the submarket with a good mix of 1 and 2 bedroom units.

R. Derek Smith

R. Derek Smith of Smith Equities was the exclusive listing broker for the seller.

“This property was in a situation where it was advantageous to hold on the market while working with the seller to reposition for a sale,” stated Mr. Smith.

“In working with the seller strategically, we were able to increase the NOI by over 30% in the course of a year. We are thrilled that we could facilitate a deal in which both the seller and purchaser got exactly what they wanted.”

The seller, Mr. Berry Long added: “Every month that passed the cash flow went up and so did the offers. Derek was tremendous to work with. No detail was too small for him to work on. His advice and guidance proved invaluable in this sale.”

Robert E. Smith

 “We are happy to continue a relationship with the seller that spans over 21 years, the seller has asked Smith Equities to help him locate a replacement property in Orlando,” said Robert E. Smith, CCIM, president and founder of Smith Equities Real Estate Investment Advisors.

This is the second time Smith Equities has brokered Eastbrook Apartments, having sold it originally to Mr. Long in 1998.

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

R. Derek Smith

407.422.0704, ext. 112

dsmith@smithequitiescorp.com

America’s Commercial Real Estate Show Expands from 11 to 40 Radio Stations

  

Michael Bull

 ATLANTA, GA,  (Nov. 14, 2014) --- The weekly radio show hosted by Michael Bull which began four years ago on one station in Atlanta is now broadcast on 40 stations across the country. 

The show provides investors, and corporate and institutional investors, advisors and occupiers of commercial real estate, a source for valuable information and best practices.

The forecasts, sector updates and market intelligence intrigue a vast audience of people looking for ideas, advice and fresh talk radio content.

 As talk radio news and business radio stations clamor to increase listeners and advertisers, the Commercial Real Estate Show has become a welcome addition to station lineups.

 According to a recent study by Bridge Ratings covered by Talkers Magazine, talk radio is experiencing “listener fatigue” from an over saturation of shows related to politics. The Commercial Real Estate Show’s “insightful analysis and enlightening discussions” are attracting affiliate radio stations nationwide.

  

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

Ilona Vaystikh

Marketing & Creative Services

Bull Realty, Inc. 

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 102

The Biggest Drag on Home Ownership: Down Payments or Debt?

Mel Watt

IRVINE, CA -- RealtyTrac recently analyzed affordability in more than 500 counties nationwide, looking at the impact of lowering the down payment for conventional loans (those that can be sold to Fannie Mae and Freddie Mac) from the traditional 20 percent to as low as 3 percent — as has been suggested recently by FHFA director Mel Watt as a way to “increase access for creditworthy but lower-wealth borrowers”.

While lower down payments may help pave a quicker path to homeownership for some prospective homebuyers, a bigger obstacle to homeownership is the additional non-mortgage debt many borrowers bring to the table.

 For borrowers without additional debt, monthly house payments are affordable in more than 90 percent of U.S. housing markets — whether they make a 20 percent or 3 percent down payment.

But for borrowers with the additional debt burden of student loans and car payments, monthly house payments are affordable in less than half of U.S. housing markets with a 3 percent down payment.

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

Ginny Walker

Office: 949.502.8300 ext. 268

Mobile: 323-317-5852  

ginny.walker@realtytrac.com

National Retail Properties, Inc. Closes Offering of Common Stock

ORLANDO, FL,  Nov. 14, 2014 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has closed an underwritten public offering of 5,462,500 shares of common stock at a price of $38.16 per share, which includes 712,500 shares sold to the underwriters pursuant to the full exercise of their option to purchase additional shares. 

The Company estimates that the net proceeds from the offering will be approximately $200.1 million, after deducting the underwriting discount.

  The Company intends to use the net proceeds from the offering to repay outstanding indebtedness under its credit facility. In addition, the Company intends to use the remainder of the net proceeds from the offering, if any, to fund future property acquisitions and for general corporate purposes.

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

investorrelations@nnnreit.com

NAI Realvest Closes Lease of 30,500 Square Foot Industrial Building in Jacksonville, FL

Christie Alexander

Jacksonville, FL -- NAI Realvest, based in Orlando, recently negotiated the lease of a 30,500 square foot industrial building at 8100-3 Westside Industrial Drive in Jacksonville.  

NAI Realvest broker associates Paul Vera, CCIM and Drew Saphos, CCIM, Chairman George Livingston and Principal Christie Alexander represented the tenant Penn Veterinary Supply, Inc. based in Lancaster, Pa. 

 Dave Cattell, CCIM was co-broker in the transaction also representing the tenant.

Stone Mountain Industrial Park, Inc. of Stone Mountain, Ga. is the landlord who was represented in the transaction by Peter Anderson of Patillo Industrial Real Estate.

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

Beth Payan or Larry Vershel, Larry Vershel Communications,

407-644-4142 lvershelco@aol.com

$10 Million sale of cite retail shops and land arranged by marcus & millichap in Miami, FL

  

Ronnie Issenberg

MIAMI, 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 the fee-simple interest in Cité Retail Shops and Land, 17,897 square feet of retail space located at the base of a six-story Miami condominium building as well as 7,850 square feet (0.18 acres) of developable land.

The asset sold for $10,000,000.

Ronnie Issenberg and Gabriel Britti, vice president investments, in Marcus & Millichap’s Miami office, represented the buyer, a limited liability company from New York City.

“The buyer was attracted to the rare opportunity to purchase prime retail real estate as well as a highly coveted development site located on one of the highest profile corridors in South Florida,” says Issenberg. 

“Whereas most local investors shy away from having to deal with mixed-use associations, our client, who owns numerous mixed-use properties in Manhattan, finds value in owning multiple ground floor condo units,” adds Britti. “He can manage the property using a larger economy of scale and shift tenants to different units in the property, based on their needs.”

Gabriel Britti

The retail space is 96 percent leased to Citibank, The Daily Creative Food Co. and seven other popular retailers. The 0.18 acres of developable land has 75 feet of frontage along NE 20th Terrace and is zoned to allow up to 500 units per acre and a maximum height of 36 stories.

The property is located at 2001 Biscayne Boulevard, surrounded by Miami’s trendiest neighborhoods including Midtown and the Design District to the north, Downtown and Brickell to the south and Miami Beach on the east.

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

                              

Kirk Felici

First Vice President/Regional Manager

 Miami, FL

(786) 522-7000

$6.5 Million sale of the Edge condominium Portfolio in West Palm Beach, FL arranged by marcus & millichap

         

Joseph P. Thomas

WEST PALM BEACH, 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 32 units in The Edge Condominiums, a 307-unit condominium building located in Downtown West Palm Beach, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,500,000 equating to $203,125 per unit.

Joseph P. Thomas, a vice president investments, William J. Berthiaume, II, a senior associate, and Frank Fausone, an associate, in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Canonsburg, PA and the buyer, a Canadian fund based in Montreal.

“The Edge Condominium Portfolio offered the rare opportunity to acquire units at a discount to current market values in a ‘best in class’ condominium building in Downtown West Palm Beach,” says Joseph Thomas.

William J. Berthiaume II

 “Our marketing process generated tremendous interest and multiple offers from both national and international investors. Ultimately, the winning bid was from a Montreal-based fund.”

All 32 condominiums included in the offering are two-bedroom/two-bathroom floor plans with hurricane resistant impact windows and exterior doors, central air conditioning, washers and dryers, electric appliances, granite counter tops, ceiling fans, ample closet space and balconies with great views of Downtown West Palm Beach or Clear Lake.

Located at 300 South Australian Avenue, the property is situated in close proximity to several Downtown West Palm Beach landmarks including CityPlace, Palm Beach Atlantic University, the Palm Beach County Convention Center, Howard Park and the Norton Museum of Art.

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

 Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400