EWM Realty International Drops Price on Multi-million-dollar Oceanfront Miami Beach, FL Home

5959 Collins Avenue, Miami Beach, FL

MIAMI BEACH, FL – EWM Realty International Realty announces the price has dropped on what it calls “the only true Oceanfront Home" on Miami Beach, FL.

The original price of $9.9 million is now down to $8.49 million. The five bedroom, five bath plus one property at 5959 Collins Ave. contains 5,685 square feet.

 EWM Senior Vice President Nelson Gonzalez says the property is “the only detached home of the 6 villas at the Bath Club.”

 The tri-level home, professionally decorated, offers a private pool, large interior elevator, two-car garage parking third-floor floor game room, ocean views from most rooms, gourmet kitchen, huge master bed/bath and walk-in closets.

Amenities include: pool, spa, gym, concierge, valet, tennis courts and beach service.

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

Nelson Gonzalez P.A.

Nelson@NelsonGonzalez.com

 305.674.4040

 Senior Vice President

EWM Realty International |419 Arthur Godfrey Road Miami Beach, Fl|33140

| MLS #: A1981996     

Royal Institute of British Architects Presents Great by Design: British Architecture – Asian Vision in Hong Kong

The Peak_Architectural Model_
 Hong Kong
_by TFP Farrells:
 Architectural models,
like this one
of TFP Farrell’s Peak Tower,
 will be display during the exhibition

HONG KONG  – Great by Design: British Architecture – Asian Vision, an exhibition organised by The Royal Institute of British Architects (RIBA) in partnership with the GREAT Britain campaign , will open from 31 March to 11 April 2015 in Hong Kong, celebrating the international and collaborative nature of British architecture in Asia.

 Recognised for its audacity, innovation and creativity, British architecture has formed a natural and intuitive relationship with Asian vision, foresight and entrepreneurial flair to produce some of the world’s most creative and innovative projects.

Hysan Place_Interior View_Hong Kong_

by Benoy: Interior view of Hysan Place

 in Causeway Bay,

 designed by British architecture practice Benoy

Alongside the exhibition, there will also be a public forum and Asia’s first airing of ‘The Brits who Built the Modern World’, three short films by BBC TV.

Jockey Club Innovation Tower_

Louver Study_Hong Kong_by Zaha Hadid Architects: 

The exhibition showcases behind-the-scenes design materials

, like this Louver study showing airflows aroun

 the Jockey Club Innovation Tower

 at PolyU, designed by Zaha Hadid Architects

To showcase how the contemporary architectural landscape is shaped, Great by Design will offer the public rare insight into the creative background of some of the world’s most recognised buildings and outstanding recent projects. 

Great by Design will also highlight key moments in the development of various architectural landmarks, reflecting their impact not just for the people who use them, but also for the evolution of architecture itself.

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

Jessica Ching

Consultant

T +852 2533 9949              

E jching@webershandwick.com

W www.webershandwick.asia

10/F, Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong

C&W Brokers Sale of former Riviera Southshore Site in Bradenton, FL

  

Margery Johnson

BRADENTON, FL – Cushman & Wakefield announced today that a team of its land brokerage professionals has completed the sale of the former Riviera Southshore development site.

The transaction, valued at $4,000,000, was brokered by Senior Director Margery Johnson, Executive Director Bruce Erhardt, and Associate Andy Slowik. Cushman & Wakefield represented ATC Realty Sixteen, Inc. The buyer was Bradenton Land Group.

The ±19.95-acre site is a 62-parcel assemblage with more than 1,000 feet of frontage on the Manatee River’s south bank. It is zoned Planned Development Project (PDP).

“Multifamily development at the riverfront should be highly successful,“ said Johnson. ”Not only because there are beautiful views, but also because there are good demand drivers in the area, such as Manatee Memorial Hospital."

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

Margery Johnson

Senior Director

(407) 541-4395

margery.johnson@cushwake.com

Jim Darrow and Jordan Gottlieb of Essex Realty Group, Inc. Presented Multiple Sales Awards

Jim Darrow

CHICAGO, IL – March 17, 2015 - Essex Realty Group, Inc. is pleased to announce that Jim Darrow and Jordan Gottlieb have been awarded Commercial Top Producers in 2014 by The Chicago Association of Realtors CommercialForum.

 Jim and Jordan were presented with the Platinum Multi-Family 5+ Sales Volume and the Platinum Multi-Family 5 + Units at an awards event that took place at The Drake Hotel on Thursday March 12, 2015.

Jordan Gottlieb

 Jim Darrow has more than 20 years of investment real estate experience. He has closed in excess of $600,000,000 worth of real estate transactions to date.

 Jordan Gottlieb is a licensed attorney and real estate practitioner. He has facilitated over $200,000,000 in real estate transactions.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

 If you would like more information, please call Jim Darrow at 773.305.4920 or e-mail him at jimdarrow@essexrealtygroup.com

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

Jim Darrow

Essex Realty Group, Inc.

773.305.4920

jimdarrow@essexrealtygroup.com

www.essexrealtygroup.com

C&W Brokers Sale of Powerline Business Center Flex Space in Pompano Beach, FL

  

2939--2999 North Powerline Road
in Powerline Business Center
Pompano Beach, FL

Rick Etner

 POMPANO BEACH, FL – Cushman & Wakefield today announced that it has completed the sale of a 55,576-square-foot flex facility located at 2939–2999 North Powerline Road in Powerline Business Center.

Executive Director Rick Etner, Executive Director Chris Metzger, and Senior Director Christopher Thomson represented Bigfoot Properties, Inc. in the sale of the building to Friedkin-Medley, KKC. OREXCO served as Qualified Intermediary (QI) in the Section 1031 exchange, which was valued at $3,350,000.

Christoopher Metzger

2939–2999 North Powerline Road was built in 1993 and renovated in 2013. It sits on 3.28 acres and is zoned B–4 (Heavy Business).

 The building features 24’ clear ceiling heights, 124 parking spaces and excellent visibility on North Powerline Road. At the time of sale, the facility was 93 percent occupied.

“This transaction is further evidence that the North Broward submarket remains strong,” said Etner.

Cushman & Wakefield’s own research confirms this sentiment.

“The demand for Broward industrial product continues to outpace supply, compressing cap rates and pushing pricing on what little product becomes available,” reads Cushman & Wakefield’s Q4 2014 Broward County Industrial Marketbeat.

Christopher Thomson

“The region has all of the right assets economically to meet the growing needs of industrial users emerging in the U.S. As a result, demand, positive market fundaments and new developments are only expected to continue.”

“Investors in this market don’t just have an appetite for Class A, institutional, distribution buildings,” explained Etner.

“They also want flex space. Flex space can accommodate thriving retail industries – such as carpet, tile, and cabinet shops – which desire a warehouse component, good central distribution characteristics, and retail walk-up frontage to help boost their business.”

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

Richard. F. Etner, Jr., SIOR

Executive Director

(954) 771-0800

rick.etner@cushwake.com

HFF arranges $40 million financing for Miami Beach’s famed Park Central Hotel on Ocean Drive

Park Central Hotel, 620--650 Ocean Drive, South End, Miami Beach, FL

Jim Dockerty

MIAMI, FL – HFF announced today that it has secured $40 million in construction financing for the redevelopment of the historic Park Central Hotel, a 1939 Art Deco hotel in Miami Beach, Florida.

HFF worked on behalf of the borrower, Park Central Partners LLC, an entity of Optimum Asset Management, to secure the three-year, floating-rate, senior real estate construction loan through BB&T Real Estate Funding. 

The loan will be used to take three existing Art Deco buildings – the Park Central Hotel, the Imperial Hotel and Heathcoat Apartments – and a .15-acre development site and turn them into the new Park Central Hotel.

                The new 135-key Park Central Hotel will be a luxury boutique hotel that will retain the historic charm of the original hotel. 

The completed project will feature three new restaurants totaling 8,100 square feet, a rooftop glass bottom pool, ground-floor pool with ocean views from the deck, 24 suites, 1,380 square feet of meeting space and unobstructed views of the Atlantic Ocean.

Scott Wadler

 The hotel, which will be completed in early 2017, will be located at 620-650 Ocean Drive.  

The property is directly across from Lummus Park and one block from the fashion district along Collins Avenue.

The HFF team was led by managing director Jim Dockerty, associate director Scott Wadler, and analyst Marc Roth.

“When completed, the Park Central Hotel will re-establish Ocean Drive as a luxury boutique hotel and fine-dining destination,” Dockerty said.

“We are excited to be one of the major leading players in the ‘renaissance’ Ocean Drive is currently experiencing,” added Ricardo Tabet, CEO of Optimum Asset Management.  “We believe our renovation of the iconic Park Central Hotel will not only promote the glory of its heyday, but will also bring back a sense of tropical class and elegance to the area.”

Marc Roth

In the year ending 2014, HFF’s Hotel Group closed more than $3.5 billion in hotel transactions across all capital markets involving more than 100 hotels and resorts.

Optimum Asset Management (Optimum) is a global, multi-billion dollar equity firm with offices in London, Luxembourg, Berlin and Miami led by Alberto Matta, Rodolfo Misitano and Tabet.

 In the past two years, Optimum has successfully acquired a number of strategically located properties in the Miami area.     

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 recapitalization of 499-space parking garage in Brooklyn, NY

Underground Parking Garage,
within Edge mixed-use project
Williamsburg Neighborhood,
 Brooklyn, NY

NEW YORK, NY – HFF announced it has closed the recapitalization of a 499-space underground parking garage located within the Edge mixed-use project in the Williamsburg neighborhood of Brooklyn, New York.

Andrew Scandalios

HFF marketed the property on behalf of Douglaston Development.

 In 2014, HFF worked on behalf of the seller to close the recapitalization of 1.19 acres of land entitled for the development of 2 North 6th Place now underway and the sale the existing 64,000-square-foot retail portion of the property.

The 499-space parking garage is part of The Edge mixed-use project, a master planned development featuring 565 constructed residential condominiums, 347 moderate-income units and 554 to-be-built residential units that will be located in a second phase tower. 

The Edge also includes nine street-level retail spaces leased to tenants such as CVS and Brooklyn Harvest Market.  The complex is situated along Kent Avenue and North 6th Street in Williamsburg, Brooklyn.

The HFF team representing Douglaston was led by senior managing director Andrew Scandalios, managing director Rob Rizzi, senior managing director Eric Anton and associate director Colin Oberg.

Rob Rizzi

“Douglaston was one of the pioneers along the Williamsburg waterfront and their continued investment within The Edge is indicative of the significant upside remaining in the area,” said Rizzi.

Douglaston Development, Levine Builders and Clinton Management coordinate cohesively to acquire property, develop it to its full potential, and manage it creatively to assure that its investments achieve and maintain maximum value and profitability.

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

C&W Assists Tire Center in Leasing New West Palm Beach, FL Location

Christopher Thomson

WEST PALM BEACH, FL– Cushman & Wakefield today announced that it has assisted Tire Centers, LLC (TCi) in securing a new 15,200-square-foot warehouse lease at 230 Truck & Trailer Way.

Senior Director Christopher Thomson, Associate Director Matthew McAllister, Executive Director Chris Metzger, Executive Director Rick Etner, and Senior Vice President Brian Young represented TCi in the transaction.

CBRE and Cornerstone Realty represented the landlord, EFN Jupiter Property, LLC.

TCi Tire Centers, is a subsidiary of Michelin North American. It is comprised of over 65 commercial locations, eight state-of-the-art retreading plants, and more than 75 wholesale distribution centers.

TCi Tire Centers specializes in commercial truck tire sales and service solutions, the manufacture of custom-mold and pre-mold truck retreads to the quality and process standards established by Michelin Retread Technologies, and the distribution of passenger and light truck tires to independent tire retailers.

Matthew McAllister

230 Truck & Trailer Way is a 39,588-square-foot, one-story warehouse built in 2004 offering 17 drive-in, grade-level doors, 10,000 square feet of office/showroom space, 20’ ceiling clear heights, and a ±90,000-square-foot paved lot.

 It is zoned Light Industrial. The site offers immediate access to Florida’s Turnpike at Exit 97.

Securing a tenant-friendly deal in the Palm Beach market has become more difficult in light of fewer availabilities and increased demand.

“While vacancy continues to tighten, new speculative construction or redevelopment will be on the horizon,” reports Cushman & Wakefield’s Q4 2014 Palm Beach Industrial Marketbeat.

 “Until supplemental buildings are delivered to the market, landlords are expected to dominate lease transactions, asking for higher rental rates.”

Cushman & Wakefield was able to work around this market dynamic by finding an off-market lease opportunity benefitting both TCi and the landlord.

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

Christopher Thomson, SIOR

Senior Director

(561) 227-2020

christopher.thomson@cushwake.com

PKF-HR Forecasts A Shift In the Drivers of RevPAR Growth as Hotel Occupancy Expected to Hit Record High in 2015

R. Mark Woodworth

Atlanta, GA,  March 16, 2015 – The U.S. lodging industry will continue to achieve very strong growth in rooms revenue per available room (RevPAR) during both 2015 and 2016 according to the recently released March 2015 edition of PKF Hospitality Research’s (PKF-HR) Hotel Horizons® (PKF-HR is a CBRE company). 

The report further predicts that the composition of the factors driving the RevPAR is starting to shift with record-setting occupancy yielding ground to growing average daily rates (ADR).

 “In 2015, RevPAR growth will be achieved by healthy increases in both occupancy and ADR, similar to the pattern we have seen since 2011,” said R. Mark Woodworth, senior managing director of PKF-HR.  

“However, beginning in 2016, we are forecasting that ADR gains will be the dominant, if not sole, driver of RevPAR growth through 2019.”

 For 2015, PKF-HR is forecasting a 1.9 percent increase in occupancy, combined with a 5.3 percent rise in ADR, for a 7.3 percent boost to RevPAR.  In 2016, the increase in occupancy is projected to slow down to just 0.6 percent, but the pace of ADR growth is forecast to improve to 6.3 percent.  The net result will be a 6.5 percent gain in RevPAR next year.

 “The 65.6 percent occupancy level we are forecasting for 2015 is an all-time record for the 27 years STR, Inc. has been reporting U.S. lodging industry performance.  At such lofty levels, it is natural that the pace of occupancy growth will slow down, and we will start to see prices take off,” said Woodworth.

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

R. Mark Woodworth                                                 Chris Daly

PKF Hospitality Research, a CBRE Company         Daly Gray Public Relations

Tel: 404 842 1150, ext. 222                                      Tel: 703 435 6293

Email: mark.woodworth@pkfc.com                          Email: chris@dalygray.com

www.pkfc.com                                                           www.dalygray.com

Franklin Street Sells Fort Lauderdale, FL Retail Plaza for $5.78 Million

Greg Matus

Fort Lauderdale, FL (March 16, 2015) — Just days after announcing the sale of two Fort Lauderdale retail properties,  Franklin Street has completed the sale of another neighborhood shopping center for  $5.783 million in  the city.

Franklin Street Managing Partner, Greg Matus, and Investment Associate, Peter Crane, represented the buyer of the 40,409-square-foot Pinecrest Square located at 901 Cypress Creek Road.

 The buyer is Pinecrest AP, a private real estate investor from the Northeast U.S. The seller is MPI/Pine Crest Square, Inc., an affiliate of Milestone Properties, which was represented by Marcus & Millichap.

 The new owner has plans to make significant capital improvements to the property which is nearly 75 percent occupied. It has a mix of local and national tenants which include Subway, Jiffy Lube and 7-Eleven.

 “By spending some money on improvements, this investor has an extraordinary opportunity to retain and attract higher paying tenants, and transform the property into a more valuable asset,” said Matus. “Rising rents and low interest rates are creating significant investor demand in shopping centers like Pinecrest Square.”

 Last week, Franklin Street announced it had arranged the sale of two retail centers on Federal Highway between Oakland Park Blvd. and Commercial Blvd. for a combined price of $12.4 million.

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

Todd Templin or Ashley Fierman, BoardroomPR

ttemplin@boardroompr.com/afierman@boardroompr.com

954-370-8999                                                                                                      

NAI Realvest negotiates Two New Leases for Class A office space at Primera Court II in Lake Mary, FL

Mary Frances West

Lake Mary, FL – NAI Realvest recently completed two new lease agreements for a total of  5,290 rentable square feet at Primera Court II, located  at 725 Primera Blvd. in Lake Mary.

 Senior Broker Associate Mary Frances West, CCIM negotiated the transactions representing the class A office building Landlord, RREF Interchange–FL, Primera II, LLC. 

 Advanced Communication Solutions, Inc. is the new tenant that leased suites 105, 110, and 115 with 3,882 square feet and Central Florida Title, LLC leased suite 210 with 1,408 square feet in Primera Court II.

 Nicholas Fouraker of Bishop Beale represented Advanced Communication Solutions and Jennifer Dollar of Realty Executives represented Central Florida Title. 

  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

Hospitality Veteran William Blackham Joins Supertel Hospitality as CEO

William Blackham

            NORFOLK, NE —Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced that hospitality and finance veteran William Blackham has joined the company as chief executive officer.

  Previously, Mr. Blackham was president and CEO of Eagle Hospitality, a hotel REIT which traded on the NYSE and has been active for several decades in entities actively involved in real estate and hospitality development, acquisition and advisory services.

He replaces Kelly Walters, who will remain on Supertel’s board of directors.  Mr. Blackham also was appointed to the Supertel board of directors.

            “Bill Blackham brings more than 30 years of deep and broad hospitality and investment experience to Supertel,” said Jim Friend, Supertel’s chairman of the board.

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

 Ms. Krista Arkfeld

Director of Corporate Communications

karkfeld@supertelinc.com

(402) 371-2520

Chris Daly

Phone:  (703) 435-6293

Chris@dalygray.com

The Hilton Orrington/Evanston Hotel Completes Multi-Million Dollar Renovation in Evanston, IL

Murray L. Dow II

EVANSTON, IL March 16, 2015—Officials of The Dow Hotel Company (DHC), a leading hotel owner/investor and operator, today announced that it has completed the $8.6 million renovation of the 269-room, AAA Four Diamond-rated Hilton Orrington/Evanston.

 The hotel is owned by a joint venture comprised of DHC and The Carlyle Group’s (NASDAQ: CG) Carlyle Realty Partners VI and is operated by DHC.

“The Hilton Orrington/Evanston has been a part of the fabric of Evanston for decades, hosting countless business meetings, proms, receptions and parties celebrating all of life's milestones,” said Murray L. Dow II, DHC founder and president.

 “The concept behind the renovation of this historic hotel was to incorporate details of its illustrious past with the current needs and desires of today’s business and leisure travelers. 

The hotel is well positioned to maintain its place as a cherished member of the community while appealing to new travelers to the area.”

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

  Chris Daly

Phone:  (703) 435-6293

Chris@dalygray.com

New Castle Promotes Andrew Hobbs to General Manager oHampton Inn & Suites Jekyll Island Ga.

Hampton Inn & Suites Jekyll Island, GA

 SHELTON, CT (March 16, 2015)—Officials of New Castle Hotels & Resorts, a leading hotel owner, operator and developer, today announced that Andrew Hobbs has been named general manager of the 138-room Hampton Inn & Suites Jekyll Island.

 Previously, Hobbs was the assistant general manager/sales manager for the hotel.  Trevor Stratton, the hotel's former general manager, was promoted to assistant general manager for New Castle's soon-to-open Westin Jekyll Island.

“Andrew has been preparing for this new challenge for two years and has clearly demonstrated his readiness to lead this award-winning hotel," said Gerry Chase, president and COO of New Castle. 

 "I'm particularly pleased that our company continues to have growth opportunities for talented hoteliers like Andrew and his predecessor, Trevor.  I have every confidence that Andrew will carry forward the hotel's well-deserved reputation for service excellence."

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

Lauralee Dobbins

Daly Gray, Inc.

703-435-6293

Lauralee@dalygray.com

American Realty Advisors Sells Award-Winning Office Building in Denver, CO

Wynkoop Street Building, Lower Downtown, Denver, CO

Stanley lezman

DENVER, CO – American Realty Advisors, an institutional real estate investment manager with approximately $6.7 billion in assets under management, has sold an eight-story, 306,791 square-foot office building in Denver’s Lower Downtown neighborhood to an institutional investor.  The sale price is undisclosed.

The property, which is 100 percent leased, is a Class AA, LEED-Gold certified building on Wynkoop Street, adjacent to Denver’s recently redeveloped Union Station.

“The sale of this property was timed to allow us to take advantage of record high investor demand prior to the anticipated delivery of new office construction in the market over the next 24 to 36 months,” said Stanley Iezman, Chairman and CEO of American Realty Advisors.

“Similarly, our timing on our 2011 acquisition of the property enabled us to leverage emerging trends in tenant demand, including a growing migration to Lower Downtown based on the area’s expanding amenity base; its significant growth of residential units; and the $500 million Union Station redevelopment, which was in its early stages when American acquired the property,” Iezman added.

Kevin Shannon

During its ownership of the asset, American Realty Advisors was successful in executing new leases that brought the building to 100 percent occupancy.  

Current tenants range in size up to 75,000 square feet, and include significant companies such as Maximus, Black Hills Corporation, and Polsinelli, among others.

“By attracting high-level, long-term tenants, we were also able to increase rental rates, setting a new high-water mark for the asset, and strengthening yields for our investors,” says Iezman.

American Realty Advisors’ strategic and active asset management earned the firm multiple awards for the property, including the 2013 BOMA TOBY for Building of the Year in Denver; the 2013 Most Efficient Building in Denver award; the 2011 Xcel Energy Efficiency Partner award, and an Energy Star rating of 95.

The property is located at 1515 Wynkoop Street in Denver, Colorado.

American Realty Advisors was represented by Geoff Baukol and Kevin Shannon of CBRE in the sale transaction.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

www.americanreal.com.