Sunday, October 11, 2015

Lincoln Harris Brokers Four Leases Totaling 12,187 Square Feet at The Arboretum at Weston in Cary, NC

  
 
Kaler Walker
RALEIGH, NC — Kaler Walker and John Mikels of Lincoln Harris’ Raleigh office have brokered four leases totaling 12,187 square feet at The Arboretum at Weston, located in Cary, North Carolina. Walker and Mikels represented the landlord in the transactions. Details are as follows:

·      Cherish Yourself, a wellness and health promotion center, signed a 6,450-square-foot lease, making it the second largest tenant at the center. Lucy Clark of The Lundy Group represented the tenant in the transaction.

·      Lane & Associates, a dental practice, signed a 2,400-square-foot lease extension.

·      Allstate Insurance Co. signed a new 2,352-square-foot lease. Tiffany Barrier of CBRE – Raleigh represented the tenant in the transaction.

·      SuperGreen Solutions signed a 985-square-foot lease. Mike Brugger and Tim Phillips of Franchise Real Estate represented the tenant in the transaction. The company, which focuses on the sale of energy efficient products for the home and business, brings an entirely new use to the center.

The Arboretum at Weston is a mixed-use development featuring 80,000 square feet of retail and restaurant space, along with 9,700 square feet of office space and 207 residential units. The property is located across from the SAS Campus, which has more than 4,920 employees on site and is the largest employer in Cary.

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

Savannah Duncan
The Wilbert Group
404-343-0870 (O) 404-901-4433 (C)

Cooper Carry Promotes 53 Professionals



Kim Rousseau
ATLANTA, GA  – The internationally recognized design firm, Cooper Carry, recently promoted 53 professionals, including five principals, 21 associate principals, 11 senior associates and 16 associates.

 The internal appointments demonstrate the company’s continued growth, commitment to the future and success of its various specialty practice groups.

“Our firm strongly believes in recognizing good work and empowering employees at all levels to achieve in each of their specialty practice groups,” said Kevin Cantley, president and CEO of Cooper Carry. 

“The velocity of new projects has created a culture for growth and innovation, and the advancement of these 53 professionals is one of many steps that will position Cooper Carry for future prosperity into the next generation.”

Current projects include Park Center in Dunwoody, Georgia; the AC Hotel by Marriott in Atlanta; Lighthouse Point in Staten Island; and Ballston Mall in Arlington, Virginia.

A complete list of names and positions is outlined below:

Principals

· Manny Dominguez, Bill Halter. Bob Just, Kim Rousseau, Andrea Schaub.

Associate Principals

· Brent Amos, Christopher Bivins, Lesley Braxton, Brian Campa, Dorothy (Dots) Colley, Pratt Farmer, Lauren Ford, Rick Fredlund, Layton Golding, Mark Kill, Oscar Perez, Brian Parker, Katie Peterschmidt, Kyle Reis, Mike Service, Judy Simmons, Andrea Smith, David Thomson, Gary Warner, Nate Williamson, Sherry Wilson.


Andrea Schaub
Senior Associates

 T. Jack Bagby, Stephen Carlin, Matthew Carr, Chris Culver, Brandon Danke, David Goodman, Mike Linker, Kathy Logan, Bill Garcia, Douglas Webster, Markus Wilms.

Associates

 Jason Albers, John Beres, Allison Bickers, Stephen Busch, Jon Cakert, Krista Dumkrieger, Judy Ferguson, Maria Greenawalt, Matt Guelcher, Audrey Hardesty, Jason King, Gweneth Kovar, Robin Lackey, Brandon Lenk, Elizabeth Muscroft, Sophia Tarkhan.

Cooper Carry was founded in Atlanta in 1960, and has received many accolades throughout the last 55 years. Recently, Cooper Carry was the only Atlanta-based design firm to break the Top 50 in Architectural Record’s “Top 300 Architecture Firms” list, which is determined by total design revenue in 2014. 

Cooper Carry was also included on Engineering News-Record’s (ENR) list for Top 100 Green Design Firms and Top Five Hospitality Firms.

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

Hadley Creekmuir,
The Wilbert Group

 404.343.4080

Passco Companies Acquires 344-Unit Class A Multifamily Community in Duluth, GA



The Estates at Crossroads, 2620 North Berkeley Lake Road Northwest, Duluth, GA


DULUTH, GA – Passco Companies, LLC has acquired The Estates at Crossroads, a 344-unit, Class A multifamily community located in the highly sought after Duluth submarket of Gwinnett County, Georgia, according to Colin Gillis, Director of Acquisitions, Southeast for Passco Companies.

Colin Gillis
“The Estates at Crossroads is located in Metro Atlanta’s booming Gwinnett County, one of the nation’s top-ten fastest growing counties with an impressive 46 percent population growth since 2000,” explained Gillis.

 “The growth in the sheer number of people and businesses moving into the area has resulted in strong renter demand for Class A housing, making this an extremely smart acquisition for Passco Companies. 

"In fact, Gwinnett County’s population growth from 2012-2014 represented over 34 percent of the total population growth seen in the thirteen county area encompassing the Atlanta MSA.”

Gillis notes that the area's soaring population is based on job growth in the region.  Metro Atlanta’s employment gains are expected to reach near record levels, with more than 140,000 new jobs expected in 2015. 

Gillis notes that the property is located within 15 miles of over 55 million square feet of Class A office space, including Technology Park Atlanta, Windward Parkway Corridor, Johns Creek Technology Park, and Perimeter Center. Gwinnett County is also home to the headquarters of three Fortune 500 companies, including the AGCO Corporation and Asbury Automotive.

Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.

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

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
      

Lincoln to Lease and Manage Class A Office Building in Duluth, GA


  
Jeff Henson
ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has been tapped to lease and manage a 103,742-square-foot Class A office building, located at 6340 Sugarloaf Parkway in Duluth, Georgia.

Jeff Henson and George Gwaltney will lead leasing efforts on behalf of the landlord, Kapoor & Sons, LLC.

“This property offers highly desirable Class A office space in a prime location adjacent to Gwinnett Arena with close proximity to I-85,” Henson said.

 “With the recently completed renovations to the lobby and common areas, we believe the building will attract a significant amount of companies looking for high-quality space in Duluth.”

The building also offers a move-in ready, fully operational bank space in the main lobby on the first floor. The space is equipped with a teller counter, vault, associate offices and three drive-thru bays with ATMs and deposit boxes. Building and monument signage is available to the bank user. 

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

Savannah Duncan
The Wilbert Group
404-343-0870

NAI Realvest Negotiates Retail Leases totaling over 10,000 Square Feet in Seminole County, FL


Kimberly Manson
Casselberry, FL -- NAI Realvest, based in Orlando, recently negotiated four long-term leases totaling more than 10,000 rentable square feet of retail space at centers in Casselberry, Oviedo and Winter Springs.     

Seminole Wellness & Injury Center headed by Dr. Richard Bocco expanded into 3,200 total square feet by signing a new lease for 1,600 square feet at 164 Sausalito Blvd. and renewing the lease of their existing 1,600 square feet at 172 Sausalito Blvd.

  NAI Realvest Broker Associate Drew Saphos, CCIM, Principal Christie Alexander, and Chairman George Livingston brokered the transactions. The landlord is Pompano Beach-based JAB Shopping Center II, LLC.  Other tenants at the Baer’s Furniture Plaza include Planet Fitness.

Jeff Tanner, vice president and Kim Manson, director of retail and investment sales at NAI Realvest negotiated a new lease of 5,342 square feet representing Landlord Realty Income Corporation of San Diego, Calif.   Kid City USA Oviedo, Inc., a franchisee of Kid City USA leased the space at 204 Alexandria Blvd. in Oviedo. 


Christie Alexander
The brand currently operates 17 corporate and franchised locations throughout Central Florida.  The tenant was represented in the transaction by Todd Haber of Cresa Orlando.           

At 158 Tuskawilla Rd. in Winter Springs, NAI Realvest Senior Director Jeff Bloom brokered the lease renewal of 1,530 square feet at the retail facility representing the Dallas-based Landlord Summer Falls, LLC.  

Tenant Herba Family Chiropractic is a team of family wellness professionals headed by Dr. Matthew Herba.  


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


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

   

NAI Realvest Negotiates $2.66 Million Sale of Vacant Land in St. Cloud, FL

   
 
George Livingston
ORLANDO, FL --- NAI Realvest recently closed on the sale of 28 acres of vacant development land on Thompkins Road in St. Cloud for $2,660,000.

NAI Realvest Broker Associate Daniel Blackford and Chairman George Livingston negotiated the sale representing the Buyer, Serenity Living Environments, LLC

The Seller was Stephen Miles, Trustee based in Kissimmee.  



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


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

   

Saturday, October 10, 2015

George Smith Partners Secures $39.7 Million in Joint Venture Equity Financing for The Park, a San Diego Luxury Condo Development


 
Rendering of Planned The Park condominiums, Bankers Hill Neighborhood,
 San Diego, CA

Malcolm Davies
LOS ANGELES, CA – Commercial real estate investment banking firm George Smith Partners has successfully secured $39.7 million in new joint venture equity financing for the development of The Park, a planned 13-story, 60-unit,  luxury for-sale condominium project in San Diego’s affluent Bankers Hill neighborhood.

George Smith Partners Principal Malcolm Davies arranged the equity financing, and was assisted by Assistant Vice President Teddy Stutz and Assistant Vice President Bo Everett.

According to Davies, “The Park will be the first project of its kind in over a decade in the San Diego market.”

Davies notes that George Smith Partners was exclusively engaged by the project’s developers, Zephyr Partners and LLJ Ventures, to secure new joint venture equity financing that would enable construction to begin on the ground-up development project, which is estimated to be completed in May of 2017.


“There is significant pent up demand for new high rise condo developments in the marketplace,” he explained.  “Zephyr is one of the premier Southern California multifamily and residential development companies, and this project in Bankers Hill will be the latest in a line of successful developments for the company.” 

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

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

RealtyTrac Reports Vacant Zombie Foreclosures Down 43 Percent in Third Quarter Compared to a Year Ago


Daren Blomquist
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q3 2015 U.S. Zombie Foreclosure and Vacant Property Report, which shows 20,050 U.S. residential properties in the foreclosure process — but not yet repossessed by the foreclosing lender — were vacant “zombie” homes as of the end of the third quarter of 2015, down 27 percent from the previous quarter and down 43 percent from a year ago.

Vacant residential properties in the foreclosure process accounted for 1.3 percent of all vacant U.S. residential properties, with bank-owned homes (REO) accounting for another 1.9 percent of all vacant 1 properties as of the end of the third quarter.

The report shows a total of 1.5 million (1,500,456) vacant U.S. residential properties, 1.8 percent of all 84.7 million U.S. residential properties. Among the 1.5 million vacant residential properties, 36.5 percent have at least one open loan and 6.2 percent are seriously underwater, meaning the combined value of loans secured by the property is at least 25 percent more than the estimated market value of the property.

“The overall inventory of homes in the foreclosure process has dropped 36 percent over the past year so it’s not too surprising to see a similarly dramatic drop in vacant zombie foreclosures,” said Daren Blomquist, vice president at RealtyTrac.

“What is surprising is there are so many vacant homes where the homeowners do not appear to be in financial distress — with only 3 percent in foreclosure or bank owned, and only 6 percent that are underwater.

“More than 63 percent of these vacant homes are not even encumbered by a loan, owned free and clear by the owner. The fact that the homeowners are not selling given the recovering real estate market in most areas indicates that many of these properties are in poor condition and in neighborhoods that have been left behind by the housing recovery.”

Markets with most vacant ‘zombie foreclosures’

States with the most vacant “zombie” foreclosures were New Jersey (3,997), Florida (3,512), New York (3,365), Illinois (1,187) and Ohio (1,028).

States with the highest share of vacant “zombie” foreclosures as a percentage of total vacant properties were New Jersey (9.4 percent), New York (8.2 percent), Nevada (2.7 percent), Massachusetts (2.5 percent), and Illinois (2.1 percent). 

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

Ginny Walker
949.502.8300, ext. 268

Taylor Johnson Announces New Client FitzGerald Associates Architects


Emily Johnson
CHICAGO, IL -- Taylor Johnson President Emily Johnson has announced Taylor Johnson now represents FitzGerald Associates Architects, an award-winning architecture and design firm specializing in new and rehabilitated residential, commercial and office space.

Founded in 1919 as Rissman & Hirshfield, FitzGerald Associates Architects has a rich and notable history, having worked on some of Chicago’s most architecturally significant and successful community projects, including Outer Drive East, The Lawndale Theatre, University Village and Wilson Yard.

 Widely known for its historic renovation and adaptive-reuse work in the residential and commercial sectors, along with its new construction advisory and design services, FitzGerald continues to be one of the most active architecture and design firms in the area almost 100 years after its doors opened.

The firm’s current portfolio includes approximately 50 recently completed and active projects, such as:

·         Stony Island Arts Bank, Chicago, Illinois – rehabilitation of a three-story, 26,700 square foot building rescued from demolition in 2012. Designed as a hub for creative and cultural activities with artist studios, exhibit spaces, and archival libraries housing various collections including that of Ebony and Jet magazines founder John H. Johnson. Featured in Chicago’s 2015 Architecture Biennial

Cara Mooses
·         Oak Park Station, Oak Park, Illinois – mixed-use development located in historic downtown Oak Park designed with 34,000 square feet of retail space as well as 268 luxury apartments; first ground-up apartment development in the Chicago area for Lennar

·         First Ascent, Avondale, Chicago, Illinois – Chicago’s largest dedicated indoor rock climbing facility featuring 60-foot ceilings and 25,000 square feet of climbing surface

·         Daniel Flood Tower, Kingston, Pennsylvania – complete renovation of existing 16-story, 210-unit senior housing development

For more information on FitzGerald, please subscribe to the firm’s newsletter, visit www.fitzgeraldassociates.net or contact Cara Mooses at Taylor Johnson at 312.267.4523 or cmooses@taylorjohnson.com.
 

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

Sarah Lyons, slyons@taylorjohnson.com, 312-267-4520

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

Englewood Construction Announces Three New Retail Projects

  

William Di Santo
CHICAGO, IL --  Englewood Construction, one of the country’s leading commercial construction firms, announces its retail group has started work on three new ground-up projects: a Hobby Lobby in Beavercreek, Ohio; a PetSmart in Taylor, Michigan; and a Goodwill in Monroe, Connecticut.

“We’re extremely proud of the ongoing national partnership we’ve developed with these retail clients, which allows us to ensure smooth, dependable project delivery for them in locations across the country,” said William Di Santo, president of Lemont, Illinois-based Englewood Construction.

“If a retailer wants more reliability and less stress when opening stores in multiple locations, working with a trusted contractor on a national basis is a great way to bring consistency to the construction process regardless of the location.”
 
 For a complete copy of the company’s news release, please contact:

Sarah Lyons, slyons@taylorjohnson.com, 312-267-4520
Kim Manning, kmanning@taylorjohnson.com, 312-267-4527
                            

CBRE Lists Lakefront I and II Office Campus Within Orlando Central Park, Orlando, FL



Lakefront I and II, 6101--6251 Chancellor Drive, Orlando Central Park, Orlando, FL

 
Ron Rogg
 ORLANDO, FL -- CBRE, as exclusive advisor, is pleased to present an opportunity to acquire Lakefront I and II, a four-building, ±192,767 square foot suburban office property located prominently at 6101—6251 Chancellor Drive within the South Orlando suburban submarket at Orlando Central Park—a 12 million square foot office park.

The property enjoys a predictable income stream. Credit tenants include three Fortune 500 companies all from different industries.  

Existing tenants include the State of Florida Agency for Workforce Innovation, Regions Bank (NYSE:RF), HCA Management Services (NYSE:HCA), and Advanced Care Scripts; a regional headquarters location for a national health care provider that was recently purchased by CVS (NYSE:CVS).

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

 Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194

 


HFF closes $7.8 million sale of southern New Jersey retail center


Willingboro Town Center South, Willingboro, NJ


Jose Cruz
PHILADELPHIA, PA -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.8 million sale of Willingboro Town Center South, a 29,246-square-foot retail shopping center near the New Jersey-Pennsylvania border in southern New Jersey.   

HFF marketed the property on behalf of the seller, Delco Development, LLC.  Circle F Capital purchased the asset free and clear of existing debt.

Willingboro Town Center South consists of one main multi-tenant building and two single-tenant pads.  The 93.7-percent-leased center is home to Ruby Tuesday, Rita’s, Bagel Café, Credit Union of New Jersey, Verizon, GNC, Subway, Hardee’s, Panda Garden, Hair Cuttery, Nail Splash and The Laundry Experience.

 Situated on 4.01 acres at 4364 Route 130, Willingboro Town Center South is within a three-mile retail trade center in Willingboro, a community 19 miles northeast of Philadelphia, Pennsylvania, and 22 miles southwest of Trenton, New Jersey.

  The center is located on Burlington Pike (Route 130), a major north-south thoroughfare that runs 84 miles along New Jersey’s western boundary and serves approximately 40,822 vehicles per day.

Chris Munley

The HFF investment sales team was led by managing director Chris Munley and senior managing director Jose Cruz

“Willingboro Town Center South represented an opportunity to acquire a prominent retail center, securely leased to a majority of credit tenants in an infill market of southern New Jersey,” Munley said.  

“Greater Philadelphia has maintained strong fundamentals, and continues to garner investment interest from new, out of market capital.  This sale was no different, and we anticipate the trend to continue.”

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


HFF closes the sale of office property in Houston’s Gulf Freeway/Pasadena submarket


 
12600 Featherwood, Houston, TX


HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 12600 Featherwood, a four-story, 74,753-square-foot office property in Houston, Texas.

HFF represented the seller, Klabzuba Realty, in the transaction.  NAI Partners, through NAI Investment Fund I, LLC, purchased 12600 Featherwood for an undisclosed amount and obtained debt from Amegy Bank.


Martin Hogan
“This transaction represents the completion of a successful round trip that generated attractive returns to our investors,” said Klabzuba Executive Vice President Clint Corn.  “We remain committed to proactively recycling our capital into urban infill opportunities in major Texas markets.”

12600 Featherwood is situated directly east of Interstate 45 South/The Gulf Freeway about 14 miles south of Houston’s central business district in the Gulf Freeway/Pasadena submarket.  This places the property within close proximity to the Port of Houston, Hobby Airport, the Texas Medical Center and NASA’s Johnson Space Center.

 12600 Featherwood is 81.5 percent leased to tenants including TriStar Global, Bamberger, Carber Holdings and Leasing Associates Service.

The HFF investment sales team was led by director Martin Hogan.

“The building is well positioned to capture oil and gas and logistics tenants that need a location need the Port of Houston or Hobby Airport,” said Hogan.

NAI Investment Fund I, LLC, has been organized by NAI Investment Management, LLC and the partners of NAI Partners to invest in office and industrial multi-tenant properties in Houston, Dallas, Austin and San Antonio. According to Rob Evans, the objective is to acquire value-add properties in these markets over the next 18-24 months.

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


HFF arranges $7.95 million refinancing for suburban Seattle, WA office/flex property



Snoqualmie Ridge, 8226 Bracken Place SE, Snoqualmie, WA

SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $7.95 million refinancing for Snoqualmie Ridge, a two-story, 76,661-square-foot office/flex property in Snoqualmie, a suburb of Seattle, Washington.  

Timothy Wright
Working on behalf of the borrower, Nexus Snoqualmie, LLC, HFF placed the 10-year, fixed-rate loan with a national lender.  Loan proceeds are replacing a maturing CMBS loan from a recapitalization in 2005. 

Snoqualmie Ridge is located at 8226 Bracken Place SE within the Snoqualmie Ridge Business Park in Seattle’s I-90 corridor.  The property occupies 4.11 acres in Seattle’s Eastside area and has a central downtown location in Snoqualmie. 

Completed in 2001, Snoqualmie Ridge is 94.8 percent leased to tenants such as Zetec, Inc., which has its headquarters at the property, as well as Sherwin-Williams and Eastside Psychological Associates.  

HFF’s debt placement team representing the borrower was led by senior managing director Tim Wright and director Zack Holderman

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



HFF secures $110 million first mortgage financing for 180 Madison Avenue in Manhattan

  

180 Madison Avenue, Madison Avenue and East 34th Street,
Midtown South Office Market,  Manhattan, NY

 
Michael Tepedino
 NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $110 million first mortgage financing for 180 Madison Avenue, an historic, 23-story, 280,953-square-foot office tower in Manhattan.

Working on behalf of an institutional investor, HFF placed the loan with J.P. Morgan Chase Bank, N.A. and Landesbank Hessen-Thuringen Girozentrale (Helaba). 

180 Madison Avenue is located at the southwest corner of Madison Avenue and East 34th Street in Manhattan’s Midtown South office market.

  The building, formerly known as the “The Lingerie Building” was historically the premier building for lingerie tenants in New York City.  Originally built in 1926, the property is in the final stages of a comprehensive renovation that has already transformed and re-positioned the asset as a best-in-class, market leading office building. 

Representative improvements include a spectacular lobby renovation, elevator modernization, window replacements, as well as various electrical upgrades.  Recent rollover at the building, which is currently 72 percent leased, has enabled ownership to continue to execute their business plan to demolish and pre-build space to a “plug and play” ready condition as tenants’ leases expire. 


Michael Gigliotti
The location of the property appeals to tenants across a wide array of industries, but there has been a growing demand from the technology, advertising, media and information (“TAMI”) sectors that are highly concentrated in the Midtown South office market. 

The property offers the infrastructure TAMI tenants frequently require, with the aesthetic style and geographic location they desire.  Two of the top five largest tenants located at the building, 

The Rubicon Project and Unified Social, are prime examples of the growing TAMI firms flocking to Midtown South.  Both tenants signed leases at the property in the last few years and both have already expanded within the building since their arrival.

The HFF debt placement team representing the borrower was led by senior managing director Michael Tepedino and managing director Michael Gigliotti.

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