Sales at The Residences at Mandarin Oriental, Atlanta Reach Nearly $40 Million

Karen Rodriguez

ATLANTA, GA (August 3, 2015) – Due to an aggressive push by the sales team and high demand for luxury condos in Atlanta, iStar Inc. (NYSE: STAR), is pleased to announce the sale of 10 units, totaling $22.1 million, this year at The Residences at the Mandarin Oriental, Atlanta.

The skilled team, led by exclusive listing broker Karen Rodriguez, has completed $38.2 million in sales at the property since taking over the project in January 2014.

“The momentum at The Residences is impressive with our year-to-date sales already surpassing sales for the entire year last year,” said John Kubicko, senior vice president for iStar Inc.

“We’re particularly excited about selling the first full-floor residence and building out our second full-floor home, Residence 52. After selling 10 units so far this year, the next phase of finished units should sell rapidly.”

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

Hadley Creekmuir

 The Wilbert Group

Tel: 404-343-4080

E-mail: hcreekmuir@thewilbertgroup.com

www.mandarinoriental.com.

www.iStarLandDev.com.

Garretson Resolution Group Signs 43,112-SF Lease For New Charlotte, NC Office at Two Morrocroft Centre

  

 

Chris Swart

CHARLOTTE, NC (Aug.3, 2015) — Garretson Resolution Group (GRG) has signed a 43,112-square-foot lease at Two Morrocroft Centre, located at 4064 Colony Road in Charlotte, for the relocation and expansion of its Charlotte office. 

The lease is one of the largest signed in SouthPark this year.

Chris Swart and Marshall Williamson of Lincoln Harris’ Charlotte office represented the landlord, Columbia North Carolina Morrocroft Office Properties, LLC, in the transaction and Chris Schaaf of JLL represented the tenant.

“We are very excited that GRG chose Morrocroft Centre and we look forward to building a long-term relationship with them,” Swart said.

Year-to-date, Lincoln Harris has arranged five leases totaling 58,596 square feet at Morrocroft Centre, which brings total occupancy to 97.2 percent.

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

Savannah Duncan

The Wilbert Group

404-343-0879 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

First Hotel RL Nationwide Opens in Baltimore’s Inner Harbor

Greg Mount

SPOKANE, WA, Aug. 3, 2015 -- RLHC (Red Lion Hotels Corporation) (NYSE: RLH) announced today the debut of its new brand, Hotel RL, with the opening of the 130-room Hotel RL Baltimore Inner Harbor.

  Inspired by the adventurous spirit of the Pacific Northwest, the flagship hotel is an historic adaptive reuse building equipped with industry-leading technology and other consumer innovations.

“Hotel RL is an urban lifestyle brand that will offer visitors a uniquely local experience and Baltimore is the perfect place to unveil this concept,” said RLHC President & CEO Greg Mount. 

“We have been embracing the Baltimore community and already feel an integral part of it.  We know our guests will enjoy the location and the experience Hotel RL Baltimore offers.  

"We emphasized comfortable, communal spaces and advanced technological touches which will appeal to travelers with a millennial mindset; those who are addicted to their devices.”

Situated at 207 East Redwood Street in downtown Baltimore, the Hotel RL Baltimore Inner Harbor, is an adaptive reuse of the former Keyser Building, a 10-story historic property with a cut-stone façade. 

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

Pam Scott

VP, Corporate Communications

509-777-6393

509-570-4610

Pam.Scott@redlion.com

www.redlion.com.

Franklin Street Named Exclusive Broker for Two Westshore Office Buildings in Tampa, FL

 

Clay Wommack

Tampa, FL (Aug. 3, 2015) — Franklin Street, a full-service commercial real estate firm headquartered in Tampa, has been tapped to be the exclusive leasing broker for 194,093 square feet of office space in the Westshore submarket.

 Clay Wommack, director of Franklin Street’s Office and Industrial Services division, and Brad Saulson, associate director, are leading the effort in locating new tenants and renewing existing ones.  

The Kennedy Center is a five-story, 97,930-square-foot multi-tenant building located at 5100 West Kennedy Blvd. 

In addition, Franklin Street is leasing One President’s Plaza located at 4902 Eisenhower Blvd. near the Veterans Expressway.

Both properties are owned and managed by Research Management Corporation.

 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                                                                                                     

www.FranklinSt.com

NAI Realvest Brokers Sale of Ormond Beach, FL Retail Building Planned for a Dunkin Donuts

  

Chris Butera

ORMOND BEACH, FL – NAI Realvest recently completed the sale of a former PNC Bank branch building at 1190 Ocean Shore Blvd. in Ormond Beach for $275,000.00. 

Chris Butera, investment associate at NAI Realvest covering Volusia and Flagler counties, brokered the transaction representing the Seller, PNC Bank NA of Philadelphia, Pa. and the Buyer, Afshari1190, LLC, a local Dunkin Donuts franchisee who plans to open another store in the future at the 1,623 square foot facility. 

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

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

NAI Realvest Retail Team closes Sales of Mixed-use, Retail Properties in Orlando Totaling More than $1.01 Million

Kevin O'Connor

ORLANDO, FL – NAI Realvest recently negotiated two commercial property sales – a downtown Orlando building and a vacant parcel near the airport for a Popeye’s restaurant – totaling $1,012,500.00.     

The NAI Realvest retail team of Kevin O’Connor, Matt Cichocki and Mitch Heidrich negotiated the investment purchase of 63 E. Pine St. for $737,500.00, representing the local buyer 63 E. Pine Street LLC.  

The two-story downtown building with 7,458 useable square feet houses Golden Knife Chop House restaurant on the first floor.  Robinson Street Corporation of Winter Park was the seller.

O’Connor, Cichocki and Heidrich also negotiated the $275,000 sale price for a vacant retail parcel at 1500 McCoy Rd. representing the local seller, RAI Restaurants. 

The Dallas-based buyer Pop Florida Properties, LLC intends to develop a Popeye’s restaurant on the 1.34-acre site.   Ryan Phelps of Orange Capital Investments represented the buyer.

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

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

HSA Commercial and Innovative Capital Advisors Equity Fund Acquires 114,000 SF Warehouse Building in Wauwatosa, WI

 

Tim Blum

CHICAGO, IL and MILWAUKEE, WI (August 3, 2015) — A joint real estate fund formed by commercial mortgage lending specialists Innovative Capital Advisors (ICA) and Chicago-based HSA Commercial Real Estate, a full-service real estate firm, has closed on the acquisition of the 114,000-square-foot Wauwatosa Business Plaza industrial building  located at 3031 N. 114th St. in Wauwatosa, Wis.

 The high-clear warehouse facility is adjacent to the former Schwaab stamp factory that was purchased by the same partnership earlier this year.

The Wauwatosa Business Plaza is currently 50 percent occupied by warehousing tenants including a Habitat for Humanity ReStore donation center and resale shop. 

Given the existing tenancies at the property, HSA Commercial and ICA do not have any immediate redevelopment plans.

“With the success of The Mayfair Collection and the continued transformation of Burleigh Street from a lifeless industrial corridor to a vibrant mixed-use district, our newly acquired properties represent strategically significant touchpoints that will define perceptions of this area for visitors and future residents,” said Tim Blum, executive vice president with HSA Commercial.

“For that reason, we need to ensure that these assets are managed over the long term such that they contribute to the city’s ambitious vision for The District.”

 James T. Barry III, J.D, CCIM; Kevin Barry, CCIM; and David Barry, CCIM, SIOR of DTZ Barry represented the seller of the Wauwatosa Business Plaza in the transaction.

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

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

Breakwater Coaching takes space at Six/Ten’s Suites on Central office project in Winter Haven, FL

Cindy Southworth

Winter Haven, FL — Breakwater Coaching has signed a new lease with Six/Ten, LLC at the commercial real estate developer’s Suites on Central.

The company relocated to downtown Winter Haven from its previous office in the Lake Wales area, and offers marriage coaching, marriage intensives and women's coaching services. The office is located at 331 W Central Ave.

"Downtown Winter Haven has warmly embraced us and our clients,” said Breakwater Coaching Co-founders Cindy and David Southworth, who have been in marriage ministry for the last 12 years. 

“It’s a great place to come for a coaching session and then go on a dinner date to one of the many fine local restaurants."

The Southworths said they moved from Lake Wales because they felt the warmth of the Winter Haven downtown area and have great relationships with several local churches.

  

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

Michelle Friedman

Account Director

Boardroom Communications

(407) 973-8555

(561) 706-4585 Cell

(954) 370-8999

(954) 370-8892 Fax

mfriedman@boardroompr.com

http://www.breakwatercoaching.com

www.sixtenllc.com

RealtyTrac Reports Share of Seriously Underwater Foreclosure Properties Drops to New Low in Q2 2015

Daren Blomquist

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q2 2015 U.S. Home Equity & Underwater Report, which shows that as of the end of the second quarter there were 7,443,580 U.S. residential properties that were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13.3 percent of all properties with a mortgage.

“Slowing home price appreciation in 2015 has resulted in the share of seriously underwater properties plateauing at about 13 percent of all properties with a mortgage,” said Daren Blomquist, vice president at RealtyTrac.

 “However, the share of homeowners with the double-whammy of seriously underwater properties that are also in foreclosure is continuing to decrease and is now at the lowest level we’ve seen since we began tracking that metric in the first quarter of 2012.”

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

Jennifer von Pohlmann

Sr. Data PR Manager

Office: 949.502.8300 ext 139

jennifer.vonpohlmann@realtytrac.com

HFF closes $47.1 million sale of 2 garden-style apartment communities in Milwaukie, OR

Miramonte Lodge, Milwaukie, OR

Ira Virden

PORTLAND, OR -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $47.1 million sale of The Bluffs and Miramonte Lodge, two garden-style apartment communities totaling 368 units in Milwaukie, Oregon.

HFF marketed the properties on behalf of Holland Partner Group and its capital partner.  Starwood Capital Group purchased the assets free and clear of existing debt.

The Bluffs is a four-building, 137-unit property totaling 100,837 rentable square feet with studio, one-, two- and three-bedroom units. 

The property is situated on 6.68 acres at 12601 SE River Road along the Willamette River and approximately seven miles south of downtown Portland.  Community amenities include an outdoor pool, sauna, barbecue area, fitness center, community room and resident library. 

Kerry Hughes

Miramonte Lodge has 231 units totaling 164,144 rentable square feet consisting of studio, one- and two-bedroom floor plans.  

The 17.46-acre, 23-building property is located at 12200 SE McLoughlin Boulevard along Kellogg Creek, approximately one half of a mile from The Bluffs. 

The new MAX Orange light rail line, due for completion in September 2015, bisects both assets along Highway 99E providing direct access into downtown Portland.  

Community amenities include an outdoor pool with sun deck, barbecue and picnic area, fitness center, clubhouse and pet park.

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

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

Marcus & Millichap Brokers $3.8 Million Sale of Acquo 124 Restaurant Site in Hallandale Beach, FL

Adam J. Tiktin

HALLANDALE 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 0.88 acres of land improved with a restaurant and mixed-use building in Hallandale Beach, Fla. The asset sold for $3,800,000.

Adam J. Tiktin, a first vice president investments in Marcus & Millichap’s Miami office, and Michael Biama, a senior associate in the firm’s Washington D.C. office, had the exclusive listing to market the property on behalf of the seller, a private investor from Hallandale Beach, Fla.  The buyer was a limited liability company from Hollywood, Fla.

“This property is located just south of one of the busiest intersections in South Florida directly across the street from Gulfstream Park,” says Tiktin.

“Due to the high profile nature of this property, we were able to attract a purchaser interested in redeveloping the site into a 40,000-square foot office condo project. 

"At just under $100 per square foot for the land, we feel that the price we achieved pushes the boundaries of what’s possible in today’s market,” adds Biama.

Michael Biama

Located at 124 South Federal Highway, the offering encompasses four separate parcels, totaling .88 acres, and two structures, totaling 7,604 square feet. 

The first is a 5,182-square foot restaurant which sits directly on Federal Highway and has excellent visibility to both north and south bound traffic.

The second is a smaller 2,422-square foot mixed-use building situated behind the restaurant, comprised of a small office and upstairs apartment.

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

Kirk A. Felici

First Vice President/District Manager

Miami, FL

(786) 522-7000

Marcus & Millichap Promotes J.D. Parker to Senior Vice President

J.D. Parker

NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has promoted J.D. Parker to senior vice president, according to John J. Kerin, president and chief executive officer.

 Parker currently serves as district manager over Marcus & Millichap’s New York Tri-State area where he oversees five offices and over 250 investment professionals and staff.

            “J.D. has been with Marcus & Millichap for over a decade and has played an instrumental role in the growth of our Northeastern offices,” says Kerin. 

“His commitment to building his investment sales team to support exceptional client service makes him a tremendous resource for our clients and investment professionals both locally and throughout the nation.”

            Parker is a graduate of Pennsylvania State University. He is an active member of the Real Estate Board of New York and the International Council of Shopping Centers.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap Lists Warehouse in Brooklyn’s Williamsburg Neighborhood

154 Scott Avenue Warehouse,
East Williamsburg Neighborhood
Brooklyn, NY

BROOKLYN, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announces the listing of a warehouse facility located at 154 Scott Avenue in the East Williamsburg section of Brooklyn. 

The property is located between Scholes and Randolph Streets.

            The listing agents are Jakub Nowak and Jim McGuckin, both of the firm’s Brooklyn office.

            “This turnkey warehouse building is ripe for conversion, and offers investors and developers the unique opportunity to purchase a sizable and completely unencumbered commercial asset,” says Nowak.

Jakub Nowak

The five-story industrial building is currently owner occupied and being used for light manufacturing, warehousing and distribution. 

The subject property will be delivered vacant and features 99,940 square feet of rentable space. The building stands on a M3-1 zoned, 21,048 square foot lot.

“Investors and owner-users will be able to capitalize on rising commercial and office rents in this part of East Williamsburg by repositioning the asset and taking advantage of a growing supply and demand disparity in the local commercial market,” says McGuckin.

154 Scott Avenue features 14-foot ceilings, multiple loading docks, two freight elevators and heavy power throughout. Its location allows for easy access to the Jefferson Street "L" train and to I-278 (BQE).

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

Gina Relva

Public Relations Manager

(925) 953-1716

$11.3 Million Hampton Inn & Suites Closes in Duncan, SC

Duncan Inn & Suites, 108 Spartangreen Boulevard, Duncan, SC

David Greenberg

DUNCAN, SC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, is pleased to announce the sale of the 133-room Hampton Inn & Suites Greenville/Spartanburg located at 108 Spartangreen Boulevard. The sales price was $11,325,000 which equates to $85,150 per unit.

            The listing agents were David Greenberg, vice president investments, and Robert Hunter, senior associate, both of the firm’s Fort Lauderdale office. Greenberg and Hunter also secured the buyer. Raj Ravi is Marcus & Millichap's broker of record in South Carolina.

            “Greenville-Spartanburg, South Carolina is a high-barrier-to-entry but growing market and the Hampton Inn offers an opportunity for maximized revenues,” says Greenberg.

The property is a five-story, limited service hotel with 38 oversized suites and high visibility to commuters along Interstate 85. It is located about four miles from the newly constructed Tyger River Park, a $17 million sports complex that has hosted as many as 7,000 out-of-town visitors per event, and about five miles from the only BMW manufacturing plant in the United States. 

Robert S. Hunter

Spartanburg is also home to the world headquarters of Denny's restaurant chain.

             “The hotel is located roughly 10 miles from Downtown Spartanburg and approximately 15 miles from Downtown Greenville,” says Hunter.  “Local legislators have done an excellent job incentivizing foreign investment in Upstate South Carolina.”

With an industry-leading hospitality team in more than 40 markets nationally, this marks the 97th hotel sold by the National Hospitality Group in 2015.

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

Gina Relva

Public Relations Manager

(925) 953-1716

National Retail Properties Inc. Announces Second Quarter 2015 Operating Results and Increased 2015 Guidance

Craig Macnab

Orlando, FL – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, announced its operating results for the quarter and six months ended June 30, 2015.

Craig Macnab, Chief Executive Officer, commented: "With our recently announced dividend increase, 2015 will be the 26^th consecutive year of annual dividend increases which is a long-term record that all of us at NNN are working to perpetuate.

“ Our team continues to source attractive retail properties for acquisition at excellent initial cash yields that will help us accomplish our objective."

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

Kevin B. Habicht

Chief Financial Officer

(407) 265-7348