Hospitality Ventures Management Group (HVMG) Acquires Greensboro-High Point Airport Marriott

  

Robert S. Cole

ATLANTA, GA – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel ownership and management company, announced that it has completed the acquisition of the 299-room Greensboro-High Point Airport Marriott for an undisclosed sum. 

The company will manage the hotel, bringing its managed portfolio to 38 hotels and 7,194 rooms in 15 states nationwide.  

            “With its prime airport location and high barriers to new competition, the Greensboro-High Point Airport Marriott is a perfect fit with our growing portfolio of owned and managed hotels," said Robert S. Cole, HVMG president and CEO.

“2014 marks our fourth year of consecutive double-digit portfolio growth and the single best year in our 14-year history.  We continue to have a healthy appetite for additional hotel acquisitions, new development and third party management and believe 2015 will present similar opportunities for further growth.”

Greensboro-High Point Airport Marriott

            Located at One Marriott Drive, adjacent to the Piedmont Triad International Airport, the Greensboro-High Point Airport Marriott, will undergo an $11 million renovation to update meeting space and guest rooms. 

            “This Marriott underwent a renovation of nearly $6 million in 2012,” Cole noted.  

“Following the completion of this second wave, the hotel will be in ‘like-new’ condition and the most recently renovated full-service hotel in the area, making it the ideal hotel for group business and corporate transient travelers to the Greensboro area.”

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

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

RECI Reports Treasury Rates Drifting Downward

Jeanne Peck

Chicago, IL --- Chicago-based Real Estate Capital Institute (RECI) reports that as the middle of the decade starts,treasury rates are drifting downward, with the benchmark ten-year treasuries dropping nearly 20 basis points in December alone. 

In contrast to a year

ago, five year treasuries are slightly higher while ten-year notes dropped a

half of the percent lower. 

The tightening yield curve usually indicates an

economic slowdown, but such signs are hardly evident as the domestic economy

is healthier in the face of stagnating international markets.

Most economists are perplexed about rate movements, especially those

predicting predicted higher interest rates. As recently as a month ago,

numerous forecasts called for ten-year treasuries to increase to 2.5% or

more, while earlier in the year forecasts of 3% or more were common.

Certainly, 2015 will continue to be a challenging year for forecasting

interest rate movements, but nevertheless, nearly everyone agrees that rates

are near the bottom.  By all measures, now is one of the best times to take

advantage of capturing low interest rates, especially for longer-term debt.

Mortgage markets clearly reflect rate euphoria for borrowers as an almost

endless supply of funds flood commercial real estate markets. As expected, mortgage spreads over treasuries are under intense pressure to tighten.

Given the current oversupply of capital, spreads may drop below 100 basis

points for premium-quality, low leverage funding opportunities. For more "ordinary" deals, new spread ranges will likely be 25 to 75 basis points higher.  

On the other hand, lenders are trying to maintain "reasonable"

yields by instituting rate-floors for longer-term debt - typically 3.75% to

4%. And should treasuries remain low throughout the next few months and

assuming inflation fears subside, expect the removal of rate floors.

Jeanne Peck, director of the Real Estate Capital Institute's(r),, emphasizes that "2015 will be remembered as one of the best years for borrowers to take advantage of extremely low interest rates."

 Adding, "If a deal does not

pencil out at today's rates, then move on ..."

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

 Jeanne Peck,

Executive Director

director@reci.com

www.reci.com

NAI Realvest completes Three lease agreements for Class A office space at Primera in the I-4 / Lake Mary Blvd. Corridor in metro Orlando, FL

Mary Frances West

ORLANDO, FL – NAI Realvest recently completed three lease agreements for class A office space totaling 6,642 rentable square feet at Primera Court I and II, located on Primera Blvd. in Lake Mary. 

Senior Associate Mary Frances West, CCIM negotiated all three transactions representing the landlords, RREF Interchange – FL, Primera I and II, LLC. 

Commercial insurance firm KIS, LLC is the new tenant that leased suite 135 with 1,122 square feet in Primera Court I,  725 Primera Blvd.  The Adjutant Group LLC (TAG), general contractors, signed a new lease for 1,380 square feet in Suite 125 of Primera Court II located at 735 Primera Blvd.

Premier Property Management of Central Florida, Inc. renewed its lease of 4,140 square feet in suites 115, 140 and 145 in Primera Court I.  

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

Beth Payan or Larry Vershel, Larry Vershel Communications,

407-644-4142 or 407-461-3780 Lvershelco@aol.com

$96 million sale of Quest Diagnostics building closed by HFF in Santa Clarita, CA

Quest Diagnostics Lab and Offices, 27027 Tourney Road, Santa Clarita, CA

Ryan Gallagher

IRVINE, CA – HFF announced today that it has closed the $96 million sale of 27027 Tourney Road in Santa Clarita, California.  The property includes a 226,441-square-foot, Class A, state-of-the-art lab and office facility occupied by Quest Diagnostics in northern Los Angeles County, California.

HFF marketed the property on behalf of the seller, Clarion Partners.  The buyer is American Realty Capital Global Trust, Inc. 

Quest Diagnostics is the world’s leading provider of diagnostic testing and is one of the largest biomedical companies in the U.S.  Situated on a 14-acre site in Santa Clarita, the property is adjacent to Interstate 5 and is 40 miles from Los Angeles International Airport (LAX). 

The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, director Andrew Harper and associate director Nick Foster. 

“This property is a true mission critical facility for the tenant.  We continue to see an abundance of liquidity for net lease opportunities across the country,” Gallagher said.

Andrew Harper

Clarion Partners has been a leading U.S. real estate investment manager for 32 years.  Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil, and London, England, as well as a presence in Mexico. 

With more than $30 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.  

More information about the firm is available at www.clarionpartners.com.

American Realty Capital Global Trust, Inc. (“ARC Global”) is a global sale-leaseback focused real estate investment trust.  

ARC Global seeks to purchase commercial properties with the objective of building a diversified pool of assets, emphasizing corporate sale-leaseback transactions involving single tenant properties.  

ARC Global’s primary geographic targets are concentrated in both the United States and Europe, with the remaining balance purchased elsewhere internationally.

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

Hold-Thyssen Negotiates Seven Lease Agreements Totaling Over 21,000 Square Feet at Park at Bay Plaza Office Center in Tampa, FL

  

Theresa Margaris

TAMPA, FL --- Hold-Thyssen Inc., a real estate services firm, recently negotiated seven leases – new, expansion and renewal agreements – that total 21,298 square feet of space in the Park at Bay Plaza office center, 9350 Bay Plaza Blvd. in Tampa off of E. Adamo Drive at U.S. 301.

R. Anthony Fisher, Vice President of Hold-Thyssen, Inc. in Tampa, said the leasing team of Timothy Sanford and Theresa Margaris negotiated all seven transactions representing the Landlord, Tampa Adamo, LLC.

The new tenants include Transformation Center Inc., a church organization who leased 2,190 square feet and an investment firm, Harbor Light Securities, Inc. who signed a new lease for 1,753 square feet.

Civil engineering firm Kisinger Campo & Associates Inc. renewed their 7,934 square foot space and expanded  into 1,556 additional square feet now occupying 9,490 square feet; Osmose Communications Services, Inc. renewed their 1,546 square feet and expanded into 1,476 additional square feet and now occupies 3,022 square feet; RP Henry & Associates renewed 2,436 square feet of space; Atlas Effect, LLC. renewed their 1,870 square feet and the physical therapy organization  Courtright & Associates renewed their 537 square feet

Hold-Thyssen manages and leases the 157,310 square foot Park at Bay Plaza office center, which has secured over 51,000 SF of new and renews leases during the past 6 months.

Headquartered in Winter Park, Fla., Hold-Thyssen provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

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

$15.5 Million Manhattan, NY Apartment Building Sale Arranged by Marcus & Millichap

974 Saint Nicholas Avenue Apartments, Washington Heights Neighborhood,
Manhattan, NY          

Scott Edelstein

NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 974 Saint Nicholas Ave., a six-story, 47-unit elevator building in Manhattan’s Washington Heights neighborhood. 

The $15.5 million sales price equates to $330,000 per unit.

  Located between 159th and 160th streets with 127 feet of frontage on Saint Nicholas Avenue, the building features 33 market-rate units, 13 rent-stabilized apartments and one rent-controlled unit. 

Recent renovations include new parapets, new elevator and mechanicals, new stone flooring throughout the common areas, new hallway lighting and a full roof replacement.

The units have been upgraded with new wood floors, new plumbing and electrical, stainless steel appliances and granite countertops.

Rafi Moskowitz

            Peter Von Der Ahe, Scott Edelstein, Seth Glasser and Rafi Moskowitz, all in Marcus & Millichap’s Manhattan office, represented both the seller and buyer.

            “As the rental market around nearby Columbia Presbyterian Hospital and Yeshiva University continues to grow, the new owner can anticipate tremendous growth from the property’s free-market rental income,” says Glasser.

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

Gina Relva

Public Relations Manager

(925) 953-1716

$10.1 Million Mixed-Use Property Trades in Manhattan, NY

  

70 University Place, Manhattan, NY

Matthew Fotis

NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 70 University Place, a 7,917-square-foot mixed-use property in Manhattan’s Greenwich Village.

 The $10.1 million sales price equates to $1,276 per square foot.

            Matthew Fotis, Samuel Muhs, Robert Aaron and Sam Hoefle, all in Marcus & Millichap’s Manhattan office, represented the seller and the buyer, both private investors.

            “70 University Place provided a unique opportunity for a buyer to immediately benefit from a recent substantial increase in retail value on this corridor, along with below-market apartment rents that will increase over time,” says Fotis.

            Situated between East 11th Street and East 10th Street in Greenwich Village, 70 University Place is three blocks from the 14th Street-Union Square subway station.

Samuel Muhs

The commercial real estate asset is a front-and-rear building above a ground-floor retail space. The front portion contains eight one-bedroom apartments above the retail space and the rear structure contains two apartments. There is a shared patio between the two sections.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap Sells Two Midtown East Multifamily Buildings in Manhattan, NY for $13.3 Million

322 East 59th Street Apartments, Sutton Place, Manhattan, NY

Peter Von Der Ahe

NEW YORK, NY  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of two five-story mixed-use walk-up buildings in Manhattan: 322 East 59th St. and 328 East 59th St.

The total sales price for the two assets is $13,300,000.

            Peter Von Der Ahe, Joe Koicim, David Lloyd and Daniel Handweiler, all in Marcus & Millichap’s Manhattan office, represented the seller and the buyer, both private investors.

            “These are two prime mixed-use buildings located in upscale and booming Sutton Place,” says Von Der Ahe. “Both assets are well positioned to provide the new owner with strong, diversified cash flow and long-term upside.”

The properties are located on East 59th Street between First Avenue and Second Avenue, blocks from the Queensboro Bridge and the 59th Street subway stop.

322 East 59th Street and 328 East 59th Street
Sutton Place Neighborhood, Manhattan, NY

 The buildings are composed of 34 one-bedroom residential apartments, four retail units and a cell tower.

            The retail tenants are Bedford Barbers, Sasabune Express, T Gardens New York Hair Salon and Jane Packer.

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

Gina Relva

Public Relations Manager

(925) 953-1716

RealtyTrac Reports Annual Home Price Appreciation Slows to Single Digits in Most Metros; Short Sales Fall to Pre-Recession Levels; REOs Decrease while Foreclosure Auction Sales Post Slight Increase

Michael Mahon

IRVINE, CA, Dec. 31, 2014 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its November 2014 Residential & Foreclosure Sales Report, which shows that the median sales price of U.S. single family homes and condos in November was $190,000, flat with the previous month but up 15 percent from a year.

The median sales price of distressed homes — those in the foreclosure process or bank-owned — reached a high of $128,625, the highest since December 2009, 35 percent below the median sales price of non-distressed properties, $199,000.

Distressed home prices increased at a faster pace, up 18 percent from a year ago while non-distressed home prices were up 14 percent during the same time period.

“As the price of distressed properties reaches a new high the pool of investor activity that has been fueling the housing recovery may dry up,” said Daren Blomquist, vice president at RealtyTrac.

OB Jacobi

“However, 20 states still saw annual decreases in distressed property prices so we will continue to see a fragmented recovery as investors move from once hot markets such as Phoenix, Atlanta and many California markets and into markets such as Charlotte, Columbus, Ohio, Dallas and Oklahoma City.”

“We are finding many home buyers frustrated as we enter the Holiday Season in Ohio,” said Michael Mahon, executive vice president at HER Realtors, covering the Cincinnati, Columbus and Dayton markets.  “With a less than seasonally normal available homes inventory to choose from, coupled with a reduction in available foreclosure inventory, many home buyers are finding themselves in multiple offer situations or unable to find their dream home for the Holidays.”

“Seattle home prices started the year at an appreciation rate of about 15 percent, but the pace gradually slowed and we expect prices in 2015 to hover between 4-6 percent. 

Daren Blomquist

"We see that as a good thing because if home prices keep appreciating in the double digits for too long, we could run into the same boom/bust market of years past,” said OB Jacobi, president of Windermere Real Estate, covering the Seattle market.

“Buyer demand in Seattle has been incredibly strong this year and we believe this will continue into 2015, but inventory levels, which are at an all-time low right now, should begin to inch up, providing more buyers with a greater selection of homes to choose from.”

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

Jennifer von Pohlmann

PR Manager

Office: 949.502.8300 ext 139

jennifer.vonpohlmann@realtytrac.com

Arizona Commercial Brokers Association Recaps 2014 Mid-Market Industrial Activity

Mike Kasulaitis

PHOENIX, AZ (Dec. 30, 2014) – The Arizona Commercial Brokers Association (ACBA) has released its 2014 transaction recap, reporting more than 380 completed industrial sale/lease transactions totaling over 3 million square feet in Phoenix in the past 12 months.

Made up of veteran brokers from independent to regional firms, ACBA provides on-the-ground insight about the group’s major client demographic: the mid-market industrial user.

“ACBA members represent the biggest driver of Phoenix’s industrial 2014 real estate year – the mid-market buyer and tenant,” said ACBA President and Voit Real Estate Services Vice President Mike Kasulaitis. 

“This year we observed an uptick in activity across the board. Taking into account that single-family home sales were negative and foreclosures still loom, we find this encouraging.”

“Among our most active clients, 2014 sales were dominated by end users and institutional money. On the leasing side, the smaller, incubator warehouse tenants occupying 20,000 square feet or less were on a roll,” added ACBA board member and Cutler Commercial broker Todd Hamilton. “Low interest rates, below-replacement pricing and strong local growth will make 2015 an exciting time to be an owner and seller, but it might ring in a ‘sticker-shock’ year for the tenant and buyer.”

Todd Hamilton

Based on market data and trends among his clients, Hamilton expects metro Phoenix’s average 11 percent industrial vacancy rate to fall by 50 or more basis points, to the 10.5 percent range by mid-year 2015.

 He also anticipates 2015 to set the stage for rent growth, which has remained stagnant for the past five years but that Hamilton believes will increase by 3 to 5 percent in 2015.

For 2014, ACBA members experienced the strongest activity among small and mid-size users. Their most active submarkets included Deer Valley, Southwest Phoenix and Central Phoenix.

“Although Arizona has continued to lag most other parts of the country, I do believe we are on the road to recovery, and that 2015 will be more active in all aspects of our economy,” said Carl Johnson, ACBA charter member and Vice President at DAUM Commercial Real Estate.

“It’s a funny market now. Inventory is tight but demand is lukewarm. However, as populations grow, housing demand returns and 30 to 40-year-olds recover from recessionary setbacks, Maricopa, Pima and Pinal counties will most certainly pull out of that stagnant holding pattern.”

Carl Johnson

For more than two decades, the Arizona Commercial Brokers Association has been providing a platform for Phoenix industrial real estate brokers to share resources, opportunities and best practices that not only grow their own deal pipeline and expertise, but also advance the success of the Phoenix market at large.

 This member-owned, member-directed organization is composed of brokers ranging from independent to regional commercial real estate firms who actively invest in ACBA-member relationships and focus on a common goal of serving clients to the highest degree.

For more information, visit www.acba.co.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

MHA Brokers $21.15 Million Sale of Apartment Community in Macon, GA

Adrian on Riverside Apartments, 5243 Riverside Drive, Macon, GA

  

Robert Stickel

ATLANTA, GA (Dec. 31, 2014) — Multi Housing Advisors (MHA) has arranged the $21.15 million sale of Adrian on Riverside, a 224-unit apartment community located at 5243 Riverside Drive in Macon, Georgia.

Robert Stickel of MHA’s Atlanta office represented the seller, Adrian Park, LLC, which developed the community, in the transaction. PEM Real Estate Group was the buyer.

“Strong and steady economic growth throughout Georgia continues to drive demand for quality apartment communities, especially properties that are appealing to debt and equity capital sources while also providing compelling value-add opportunities,” Stickel said.

Adrian on Riverside was built in 2004 and 2009, and was 95 percent occupied at the time of the sale. 

Amenities include a putting green, theater with surround sound, playground, covered car wash center, fitness center, billiard room, and a pool with a large sundeck and picnic pavilion.

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast.

Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. 

The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.

MHA enjoys a total sales transaction volume that has surpassed $3.5 billion, representing more than 100,000 units and more than 600 individual transactions. 

MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.

For more information, visit www.usmha.com.

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

Cousins Properties Announces Closing of Texas Office Tower 777 Main Sale in Downtown Fort Worth, TX for $167 million

ATLANTA, GA, Dec. 30, 2014 -- Cousins Properties Incorporated (NYSE: CUZ) announced today that it has completed the sale of 777 Main, its 980,000 square foot, Class A office tower in downtown Fort Worth, Texas, for a gross price of $167 million.

Cousins purchased 777 Main for $160 million in September 2013 as part of its Crescent Texas acquisition, which included the 4,348,000 million square foot Greenway Plaza office complex in Houston, Texas.

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.

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

Marli Quesinberry, 404-407-1898

Director, Investor Relations

marliquesinberry@cousinsproperties.com

Marcus & Millichap Names Adam Lewis Regional Manager of Portland, OR Office

Adam Lewis

PORTLAND, OR, Dec. 30, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has promoted Adam Lewis to regional manager of the Portland office, according to John J. Kerin, president and chief executive officer.

            “Adam’s commercial real estate knowledge and exceptional track record as a sales manager make him a strong asset for our clients,” says Kerin. “As a regional manager, he will continue to expand the office and provide leadership and support to our investment professionals.”

            Lewis joined the firm in July 2008 as an agent in the Salt Lake City office and received the firm’s Pace Setter award that year. The following year, he was named Rookie of the Year in the Salt Lake City office.

John J. Kerin

 Lewis specialized in arranging office and industrial property acquisitions and dispositions in Utah’s Wasatch Front region. In July 2013, Lewis joined the management team as sales manager of the firm’s Salt Lake City office. 

He relocated to the firm’s Portland office in October 2013 to become the sales manager there.

            Lewis received a Bachelor of Science degree in business management from Brigham Young University.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Newcastle Partners Ends 2014 With More Than 4 Million Square Feet of Industrial and Office Property Activity

  

San Francisco Bay

 SAN FRANCISCO, CA – Newcastle Partners, a San Francisco-based real estate investment and development company, completed an aggressive amount of activity in 2014.

By year-end the firm will have acquired, developed or sold 3.9 million square feet of industrial and office property throughout Southern California, San Francisco Bay Area, and Portland. This activity is more than double the firm’s 2013 activity.

"What’s been exciting about the breadth of our activity this year is that we’ve been aggressively building and buying in two of the most economically active markets in the country,” said Dennis Higgs, Founder and Managing Partner with Newcastle Partners.

“The white-hot, tech-based office markets of the San Francisco Bay Area and Pacific Northwest; as well as the equally hot industrial markets of the Los Angeles Basin and the Inland Empire."

Higgs also added that the firm has been prudently selling in each market as circumstances dictate, noting: “You take what the market gives you."

According to Higgs the firm has goals of acquiring between $200 million and $250 million in office and industrial property in 2015 as well as developing 2.5 to 3 million square feet of industrial property in both the Inland Empire and the Bay Area.

  

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.newcastlepartners.com.

Lincoln Wins Leasing Assignment from Equity Office for Office Buildings Totaling 1.17 Million Square Feet in Northeast Metro Atlanta

  

Matt Davis

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has won a leasing assignment from Equity Office for office properties totaling 1.17 million square feet in the Northeast submarket of metro Atlanta. Lincoln already had the management assignment for the 14 properties.

Matt Davis, Hunter Henritze and Michael Howell, all vice presidents of office leasing for Lincoln, will oversee the leasing of the properties.

“We are honored to have been selected to handle the leasing of this fantastic office portfolio,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office.

“We have enjoyed a long and successful partnership with Equity in the metro area, and with the office market continuing to heat up, and with the deep market knowledge and considerable experience of Hunter, Matt and Michael, we believe we’ll have great success leasing these properties.”

Tony Bartlett

The buildings in the portfolio include:

·      Crestwood Park I and II, located in Duluth, totaling 213,665 square feet.

·      Huntcrest I – IV, located in Lawrenceville, totaling 393,347 square feet.

·      Sugarloaf I – VII, located in Duluth, totaling 478,835 square feet.

·      2850 Premiere Parkway, located in Duluth, totaling 86,000 square feet.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com