RealtyTrac Reports All-Cash Share of U.S. Home Purchases in May Drops to Lowest Level Since November 2009

Craig King

IRVINE, CA, July 2, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its May 2015 U.S. Home & Foreclosure Sales Report, which shows 24.6 percent of all single family home and condo sales in May were all-cash purchases, down from 28.5 percent in the previous month and down from 30.4 percent a year ago to the lowest level since November 2009.

The cash sales share in May was close to its long-term average going back to January 2000 of 24.8 percent and well below its recent peak of 42.2 percent in February 2011.

“For the potential first time homebuyer or move up buyer this is a good time to move ahead,” said Craig King, COO at Chase International brokerage, covering the Lake Tahoe and Reno, Nevada, markets.

“Interest rates remain historically low, and the outlook for price appreciation is great. The competition in the market place is also different. 

“While inventory is tight many investors have dropped out of the market and cash deals are not as prevalent as they were. Even in multi-offer situations much has been equalized. This is great news for first time buyers.”

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com

Jennifer von Pohlmann

949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Colliers International Tampa Bay hires Bill Reeves as Managing Director – Office Services

Bill Reeves

TAMPA, FL (July 1, 2015) – Bill Reeves, one of Florida’s top office brokers, has joined Colliers International Tampa Bay as Managing Director – Office Services, based in its Tampa office.

Reeves focuses on representing office tenants and corporate real estate users, and has completed over 250 real estate transactions totaling over 1 million square feet in his career, which began in 1998.

Reeves joins Colliers after an extremely successful 15-year tenure at Cushman & Wakefield, where he was a top producer, winning NAIOP “Office Deal of the Year” and “Best of the Best” awards for handling some of the Tampa Bay area’s most notable corporate relocations and transactions.

He also won FGCAR’s (Florida Gulfcoast Commercial Association of Realtors) “Pinnacle Award” for Deal of the Year, for Draper Labs’ purchase of a St. Petersburg building for research and development.

“We are thrilled to have Bill join our team,” said Lee Arnold, CEO of Colliers International Tampa Bay, Central & Southwest Florida. “He has a deep understanding of how to help offices clients with their unique needs, and his experience will be a valuable asset for our office tenants and landlords.”

Bill joins Colliers’ sizable office team consisting of 17 office and medical office leasing and investment sales brokers covering the Tampa Bay region.

Reeves is a graduate of the University of Florida’s Warrington College of Business.

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

Leah Saunders   

B2 Communications

(727) 895-5030, ext. 104

Leah@B2communications.com

EWM Realty International Brokers $7.9 Million Sale of Waterfront Home in Miami Beach, FL

1374A South Venetian Way, Miami Beach, FL

MIAMI BEACH, FL – EWM Realty International broker Nelson Gonzalez announces the $7.9 million sale of 1374A South Venetion Way in Miami Beach, FL.

The 7,990-square-foot waterfront home sits on a 10,500-square-foot lot in an exclusive neighborhood.

The home features a massive rooftop terrace that offers incredible views. Terrace includes summer kitchen. 

This home has light filled rooms with soaring ceilings, Elevator, smart house systems and full house generator.

 Kitchen features blue Bahia Brazilian granite counters, cooking island and Viking appliances. Large Master Suite has its own private terrace and his/her closets. This house is ideal for entertaining with its media room with wet bar, pool and dock. 

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

Nelson Gonzalez P.A.,

Senior Vice President

305-674-4040

Nelson@NelsonGonzalez.com

www.NelsonGonzalez.com

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

Crossman & Co. welcomes Eric Parrs to their Investment Sales team

Eric Parrs

Orlando, FL – Crossman & Company is pleased to announce the addition of Eric Parrs as analyst to the Investment Sales team.

Eric will play an integral role in the underwriting and escrow coordination for a team that did more than $200 million in grocery-anchored transactions throughout the Southeast United States in 2014.

In addition to previous investment sales experience, Eric brings a distinguished appraisal background where he gained extensive knowledge in valuation and forensic modeling of retail real estate using Argus software.

 Eric holds the distinction of having multiple master’s degrees from two of Florida’s finest universities – a Masters of Real Estate from the University of Florida and a MBA from the Crummer Graduate School of Business at Rollins College. He also has nearly completed his CCIM designation.

“Eric was our first choice for the position as he brings experience, work ethic and a service mentality that will greatly benefit our clients,” said Managing Director Mark Thompson. “We are thrilled to get someone of his caliber and character for the role.”

Originally from upstate New York, Eric’s family relocated to Hilton Head, S.C., where his father practices real estate law. Eric currently resides in Winter Park, Fla.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

 407.581.6261

HFF closes sale of Publix-anchored retail center near Orlando, FL

Alafaya Square, 19 Alafaya Woods Boulevard, Oviedo, FL

ORLANDO, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Alafaya Square, a 175,977-square-foot, Publix-anchored neighborhood shopping center in the Orlando suburb of Oviedo, Florida.

Brad Peterson

HFF arranged the sale of the property on behalf of the seller, a partnership between Weingarten Realty Investors and an institutional partner.  Epic Real Estate Partners purchased the asset free and clear of existing debt.

Renovated in 2005, Alafaya Square comprises one main building and two outparcels that are home to a variety of regional and national tenants including Publix Supermarkets, Planet Fitness and International House of Pancakes.

The property spans more than 21 acres at 19 Alafaya Woods Boulevard where it terminates at Alafaya Trail in Oviedo, a community 12 miles from Orlando that helps serve more than 60,000 students who attend the University of Central Florida, which is three miles from the center.  

The HFF investment sales team representing the seller was led senior managing director Brad Peterson, associate director Whitaker Leonhardt and real estate analysts Michael Brewster and Anthony Frogameni.

“Alafaya Square is located in one of the faster-growing suburban communities in Orlando, driven by the tremendous growth of the University of Central Florida,” Peterson said. 

“The property is the largest shopping center in the area and draws a large customer base because of its’ great mix of grocery, fitness, dining and service-based tenants.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.weingarten.com.

HFF secures $33.75 million refinancing for suburban Washington, D.C. neighborhood shopping center

Davis Ford Crossing, 9890 Liberia Avenue, Manassas, VA

WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $33.75 million in refinancing for Davis Ford Crossing, a 152,391-square-foot neighborhood shopping center with multiple national anchors in Manassas, Virginia.

Mark Remington

HFF worked on behalf of the borrower, Rappaport, to secure the 10-year, 4.34-percent, fixed-rate loan with Principal Real Estate Investors.  HFF will service the securitized loan.

Between 2013 and 2014, Rappaport completed almost $2 million in renovations and enhancements to Davis Ford Crossing, securing LA Fitness as a new anchor tenant in the process.

 The 97.5-pecent-leased shopping center is home to three other anchors, Staples, Petco and CVS, and in-line tenants including Sleepy’s and GNC.  

McDonald’s, United Bank, Arby’s and Exxon occupy outparcel pads, and an additional 2,670-square-foot pad site is available for future development.

 The center is situated on 20.7 acres at 9890 Liberia Avenue in Manassas, a suburb 33 miles west of Washington, D.C.  Located at the intersection of Liberia Avenue and Prince William Parkway, the center is in the heart of the southern Manassas retail corridor and near multiple grocers and residential neighborhoods.

Robert Carey

The HFF debt placement team representing the borrower was led by managing director Mark Remington and senior real estate analyst Robert Carey.

“Congratulations to Rappaport and Principal,” Remington said.  “This transaction created a win for both parties, allowing Rappaport to buy out its capital partner while creating a valuable loan asset for Principal.”

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.rappaportco.com

HFF closes $81.4 million sale of Parsippany, NJ Class A office building

14 Sylvan Way, Parsippany, NJ

FLORHAM PARK, NJ -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 14 Sylvan Way, a 203,506-square-foot, Class A trophy office building in Parsippany, New Jersey.

HFF represented the seller, Mack-Cali Realty Corporation, in the transaction. 

Jose Cruz

The buyer, Griffin Capital Essential Asset REIT II, Inc. (“GCEAR II”), a non-traded REIT sponsored by Griffin Capital Corporation (“Griffin Capital”) purchased 14 Sylvan Way for $81.4 million.

In addition to the sales price, GCEAR II is assuming responsibility for additional tenant improvement allowance obligations. 

14 Sylvan Way was completed in 2013 as a build-to-suit for the corporate headquarters of Wyndham Worldwide Operations, a subsidiary of Wyndham Worldwide Corporation, which leases the entire facility. 

The three-story property has received LEED ® Gold designation in Commercial Interiors. 

The common areas were designed to match those of a five-star Wyndham resort and tenants have access to amenities including a cafe, training center, employee lounge and a resort-style courtyard. 

14 Sylvan Way is situated on a 23.15-acre site within the Mack-Cali Business Campus adjacent to 22 Sylvan Way, which is the second half of the tenant’s headquarters campus purchased by another non-traded REIT sponsored by Griffin Capital in 2014.  This location provides easy access to Interstate 287 and Route 10 in northern New Jersey.

Kevin O'Hearn

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, senior analyst Marc Duval and supported by senior managing director Andrew Scandalios and associate director Stephen Simonelli.

“The property is an absolute Class A and was highly sought after in a competitive process.  With GCEAR II buying the building, Griffin Capital-sponsored REITs now own two of the best buildings in Parsippany - 22 and 14 Sylvan,” stated Cruz.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.griffincapital.com.

C.T. Hsu Honored with AACC Lifetime Achievement Award

C.T. Hsu

ORLANDO, FL -- The Asian American Chamber of Commerce of Central Florida honored C.T. Hsu, FAIA as the recipient of the 2014 Lifetime Achievement Award at the Golden Dragon Awards event in the fall of 2014. C.T. is a past president of the Asian American Chamber.

“C.T. is a role model for rising entrepreneurs, especially young Asian professionals who, like him, approach their work and service to community with passion,” said Coco Johnston, 2014 Asian American Chamber of Commerce President.

 “In our fifth anniversary year for the Golden Dragon Awards, his enduring contributions to the Greater Orlando area embody our celebration of Commerce, Community and Culture.”

The award was given to C.T. due to his legacy in architectural and design excellence includes municipal government buildings, entertainment complexes, transportation projects, educational facilities, community centers and recreational facilities locally and internationally.

 He is probably best known for his contributions to three Central Florida icons – the Amway Center, the Universal Transportation Center, and the Orange County Convention Center.

Coco Johnston

His projects span the globe including China, Singapore, the Philippines, Saudi Arabia, and South Korea. Over the years, C.T. has been honored many times over as a leader in business, service, and philanthropy in Central Florida.

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

C.T. Hsu + Associates, P.A.

820 Irma Avenue • Orlando, FL 32803 • 407 423 0098 •

Fax 407 423 4793

www.CTHSU.com

Marcus & Millichap Brokers $2.7 Million Sale of SkyPoint Retail in Tampa, FL

 

Armando Rodriguez

TAMPA, FL, June 30, 2015 – 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 SkyPoint Retail, a 9,907-square foot retail property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $2,700,000.

Armando Rodriguez, associate, and James Medefind, senior associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.  

The buyer was secured and represented by Casey Babb, CCIM and vice president investments, in Marcus & Millichap’s Tampa office. 

SkyPoint Retail is comprised of five ground floor retail units in the most exclusive residential high-rise in downtown Tampa, Skypoint, located at 777 North Ashley Drive.

James Medefind

Skypoint is a 33-story residential tower built in 2007 which houses 380 residential condos; often selling for the highest price per foot in the region. 

Within the next five years, two additional residential towers will be constructed within two blocks of Skypoint, effectively doubling the residential population base with in this dense cityscape to keep up with existing demand.

 In addition to the residential population in downtown Tampa, it is also home to the largest business and financial district in Tampa Bay with a major presence of Fortune 500 companies, including Bank of America, PNC, Wells Fargo and Verizon. 

Within walking distance is the Tampa Convention Center, Amelia Arena, Tampa Port and Channelside. 

“It’s the highest price per foot we’ve seen in downtown Tampa for retail space,” says Medefind.  

“We were successful in bringing a large diverse population of buyers, both local and from out of the area,” he said, “and all were very, very aggressive buyers when it came to price and wanting to invest in downtown Tampa.” 

“The city of Tampa has done an excellent job over the past five years reinvesting in its downtown waterfront park system, new riverwalk, museums, etc.,” adds Casey Babb, CCIM, “and the buyer recognized the opportunity to buy-in at the forefront of what looks like it will be a huge explosion of new development in the coming years.  To be able to obtain a trophy real estate asset in an emerging market like downtown Tampa was a no brainer.” 

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

Richard D. Matricaria

Vice President/Regional Manager

 Tampa, FL

(813) 387-4700

Lincoln, Representing Landlord General Electric Credit Equities, Inc., Brokers Two Leases in Metro Atlanta Totaling More Than 21,500 Square Feet

Jeff Henson

ATLANTA, GA (June 30, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered two leases in Metro Atlanta totaling more than 21,500 square feet.

Jeff Henson and Denton Shamburger of Lincoln’s Atlanta office represented the landlord, General Electric Credit Equities, Inc., in both transactions.

Details of the transactions are below:

·      Atlanta Pain Clinic renewed its 1,711-square-foot lease for an additional seven years at Southlake Corporate Center, located at 3000 Corporate Center Drive in Morrow, Georgia. 

John Cobb with Newmark Grubb Knight Frank represented the tenant.

·      SELEX GALILEO, Inc. renewed its 19,820-square-foot lease for an additional 44 months at 5085 Avalon Ridge Parkway in Norcross, Georgia. Aaron Sommer with Newmark Grubb Knight Frank represented the tenant.

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

 

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Amata Office Solutions Completes Renovation of Hybrid Shared Office and Co-working Center in Chicago’s East Loop

                       

Ron Bockstahler

CHICAGO, IL (June 30, 2015) – Chicago-based real estate company Amata Office Solutions today announced the completion of its shared office/coworking center on the 28th floor of 150 N. Michigan Ave., concluding a two-month renovation that updated the center’s 55 private offices and reconfigured common areas to offer a greater variety of workspaces that cater to today’s increasingly mobile workforce.

 “The needs of today’s workers are very different from when we opened this center 10 years ago, and we felt that by investing in this renovation, we were simultaneously investing in the success of our clients,” said Ron Bockstahler, co-founder and CEO of Amata Office Solutions and the company’s affiliated office brokerage, Amata Realty Group.

 “As one of the more established alternative office providers in Chicago, we’ve seen companies embrace fully open floor plans, only to discover they interfered with the day-to-day operations of their business.

“This hybrid floor plan strikes a balance between too much and too little privacy, delivering on-demand office space that provides all of the social and professional benefits of coworking without forcing businesses to go all-in on a particular office model.”

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Lexington Homes Reaches 75-Percent-Sold Milestone at Park Ridge Place Townhomes in Park Ridge, IL

Jeff Benach

CHICAGO, IL (June 30, 2015) – Prior to completing construction on the first building, Chicago-based Lexington Homes has already sold 75 percent of the homes at Park Ridge Place, a gated community of 16 townhomes in the upscale suburb of Park Ridge. First move-ins are scheduled for September 2015.

 “The size and features of the homes, combined with their desirable location, have made Park Ridge Place a popular option for everyone from first-time homebuyers to empty nesters,” said Jeff Benach, co-principal of Lexington Homes.

“For example, luxury finishes such as granite countertops in the kitchen and bathrooms, ceramic flooring in the entryway and baths and hardwood flooring throughout the main level come standard in every home at Park Ridge Place.

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

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Lincoln Brokers North Point Ministries’ Lease Expansion at One Point Royal in Alpharetta, GA

Michael Howell

ATLANTA, GA (June 30, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered North Point Ministries’ 6,746-square-foot expansion at One Point Royal, a two-story, 149,690-square-foot office building in Alpharetta, Georgia, in metro Atlanta’s North Fulton submarket.

 In conjunction with the expansion, North Point Ministries has also extended their lease at the building and now occupies 48,329 square feet at One Point Royal.

Michael Howell and Matt Davis, each a vice president of office leasing at Lincoln, represented the landlord, OA Development, in the transaction.

 Scotland Wright of Scotland Wright & Associates represented North Point Ministries, which last year was named the largest church in the United States by Outreach magazine.

One Point Royal serves as the administrative offices for North Point Ministries while North Point Community Church, the largest of the North Point Ministries churches, is located adjacent to One Point Royal.

Matt Davis

“We are very excited about North Point Ministries’ expansion and continued commitment to One Point Royal,” Howell said. 

“It is in large part a tribute to the outstanding job OA Development has done since acquiring the property late last year, and to the strong relationships they have developed with the existing tenants.”

One Point Royal sits on 7.2 acres and is part of the Royal 400 office park. Located 10 miles north of I-285 and only half an hour from Hartsfield-Jackson Atlanta International Airport, the building also offers easy access to Georgia 400 and North Point Mall.

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

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

CBRE Global Investors Fund Sells 201 17th Street Office Building in Midtown Atlanta

John Gilb

LOS ANGELES, CA, June 30, 2015 – CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has sold 201 17th Street in Atlantic Station in Midtown Atlanta following a successful repositioning of the property.

The execution of the business plan resulted in an increase in leasing at the 17-story building from 48 percent to 91 percent since the fund acquired the property in 2012.

Both the CBRE Strategic Partners U.S. Value 6 and CBRE Strategic Partners Opportunity 5 funds own other buildings within Atlantic Station including another office building, a parking garage and a majority ownership stake in the Atlantic Town Center retail centerpiece.

As part of its repositioning strategy at Atlantic Station, CBRE Global Investors has leveraged the latest technology to enhance the experience of retail guests, office workers and residents.

“Midtown is the epicenter of technology and creative business in Atlanta,” said John Gilb, Principal, CBRE Strategic Partners U.S. 

“But beyond offering a prime location at Atlantic Station, we have focused on making this space even more desirable by anticipating and accommodating tenants’ needs and creating a pre-eminent environment for innovation that helps tenants attract and retain young professionals.”

201 17th Street, Midtown Atlanta, Atlanta, GA

Technology companies migrating to Atlantic Station comprise the majority of the newly added tenants at 201 17th Street as the area is increasingly gaining a reputation as “Silicon Peach.” 

The fund decided to sell the property to benefit its investor clients by taking advantage of strong institutional interest in core office product in Atlanta.

“There is strong momentum in Midtown as a destination for companies seeking an urban, infill, mixed- use environment that helps attract millennials,” Gilb said. 

“This is resulting in a huge influx of tech tenants. With the completion of our value-added strategy, this was the optimal time to sell to an investor who was interested in what we have transformed into a core asset.”

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

Pam Barnett

Corporate Communications Director

pam.barnett@cbreglobalinvestors.com
+1 213 683 4368

HFF announces equity raise and financing for development of No. 9 Walton in Chicago, IL

Rendering of planned No. 9 Walton Condominium Development
Gold Coast Neighborhood, Chicago, IL

Matthew Lawton

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an equity raise and financing on behalf of JDL Development, LLC for the development of No. 9 Walton, a 67-unit, super luxury condominium project in Chicago’s Gold Coast. 

The equity capital was provided by Cindat Capital Management Ltd.  iStar Inc. is providing the project’s debt financing in the form of a first mortgage and mezzanine construction loans.

Due for completion in 2017, No. 9 Walton will be built on a site at the intersection of West Walton and North State Streets, less than a block from Washington Square Park and in close proximity to numerous dining and retail amenities in Chicago’s Gold Coast and Miracle Mile neighborhoods.

 The 36-story landmark project will contain 67 residences averaging 4,000 square feet each that are well equipped with top-of-the-line luxury finishes throughout.

 The amenity-rich tower will include an indoor lap pool, hot tub, steam room, sauna, fully-equipped fitness center with Pilates and Gyrotonic machines, private wine storage, private dining room, covered dog run, dry cleaning service and car service.  35 percent of the units were pre-sold at time of closing. 

The HFF team representing the developer, JDL Development, LLC, was led by executive managing director Matthew Lawton and senior managing director Dan Cashdan.

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

  

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com