Saturday, December 12, 2015

HFF represents Menlo Equities in 650,000-square-foot office acquisition in Austin, TX


Amber Oaks Corporate Center, Austin, TX

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured financing for Amber Oaks Corporate Center, a 10-building, 650,000-square-foot corporate office campus in Austin, Texas.

HFF marketed the campus on behalf of the seller, and represented Menlo Equities as the purchaser of Amber Oaks for an undisclosed amount.  Additionally, Menlo Equities was assisted by HFF in securing financing through a national bank.

Amber Oaks Corporate Center is situated on a 70-acre site adjacent to Interstate 45 in the northwest submarket of Austin.  

This location has easy access to major thoroughfares including US Highway 183, Parmer Lane, MoPac Expressway (Loop 1), Interstate 35 and State Highway 130.

 These roadways connect the property to the rapidly growing residential areas of Cedar Park and Round Rock as well as downtown Austin, approximately 13 miles to the south.  

Additionally, the property is within close proximity to many of Austin’s largest corporate employers such as IBM, Ebay, PayPal, Oracle, Charles Schwab and Polycom.

 Amber Oaks Corporate Center is 85 percent leased to tenants including AECOM/URS Corporation, Deloitte, Xerox, Endo Pharmaceuticals, Office Depot and Toshiba.  The property features basketball and tennis courts, outdoor seating areas and an adjacent 120,000-square-foot Life Time Fitness facility. 

 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 $73.5 million construction/permanent loan for Class AA Fort Worth, TX office project


Rendering of Planned Frost Tower Fort Worth, Taylor and Fifth Street,
Downtown, Fort Worth, TX


Trey Morsbach
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $73.5 million construction loan for the development of Frost Tower Fort Worth, a 278,000-square-foot, Class AA office tower in downtown Fort Worth, Texas.

HFF worked on behalf of the borrower, Anthracite Realty Partners, an affiliate of Jetta Operating Company, Inc., to secure the three-year, floating-rate loan through Bank of the Ozarks. 

Due for completion in December 2017, Frost Tower Fort Worth will be a 25-story tower with  ground floor retail and more than 900 above and below grade parking spaces. 

Frost Bank will be the anchor tenant and Jetta Operating Company will move its corporate headquarters to the new building making Frost Tower Fort Worth 56 percent preleased.

 Project amenities will include a sky lobby on the 12th floor that will feature views of downtown, high-tech C-level suites for senior executives, a fitness facility, café and outdoor terraces. 

Conference facilities will be available in a variety of sizes with multiple breakout and gathering areas.  The development site is situated on three quarters of a city block, at Taylor and 5th Streets, adjacent to Sundance Square in downtown Fort Worth.  Nearby cultural attractions include Bass Performance Hall, the Cultural Arts District, West 7th and the Fort Worth Stockyards. 

HFF’s debt placement team was led by senior managing director Trey Morsbach and director Cullen Aderhold.

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 sale of GSA-anchored office property in Herndon, VA


Herndon Square, 510 Spring Street and 535 Huntmar Park Drive, Herndon, VA

Bruce Strasburg
WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Herndon Square, a two-building, 120,696-square-foot office property in Herndon, Virginia. 

HFF represented the seller in the transaction.  Crilley Warehouse, a private investor, purchased the assets for an undisclosed amount. 

Herndon Square consists of 510 Spring Street and 535 Huntmar Park Drive, which together sit on 10.38 acres in the heart of the Dulles Technology Corridor, about 23 miles from Washington, D.C.

 This location provides easy access to the Dulles Toll Road (Route 267), the future Herndon Metro Station (eta 2020), Washington Dulles International Airport, Reston Town Center and Tysons Corner. 

Dek Potts
Completed in 1999, Herndon Square is 94 percent leased to six tenants, including the General Services Administration, Black Box Network Services and Inovalon, Inc.  510 Spring Street is a two-story, 60,275-square-foot facility. 

535 Huntmar Park Drive is a 60,421-square-foot, single-story facility with on-site data center infrastructure leased in its entirety to the GSA. 

The HFF investment sales team representing the seller was led by senior managing directors Bruce Strasburg and Dek Potts.

“This was an outstanding opportunity for an investor to acquire two high-quality D.C. metro office buildings that are well leased to an exceptional GSA and regional tenant roster,” said Strasburg.  “The attractive in-place cash flow is secured by a critical area amenity infrastructure with a central location in the rapidly redeveloping Metro Silver Line Corridor.”

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 sale of Coral Palm Plaza in Coral Springs, FL

  
Coral Palm Plaza, 2001-2153 University Drive, Coral Springs, FL

 
Daniel Finkle
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Coral Palm Plaza, a 135,723-square-foot, grocery-anchored retail center in Coral Springs, Florida. 

HFF marketed the property on behalf of the seller.  An entity controlled by RK Centers purchased the asset free and clear of existing debt.

Coral Palm Plaza is home to specialty grocer Doris Italian Market as well as anchors Michael’s, Buy Buy Baby, Dollar Tree and Planet Fitness.  

Additional shop tenants of the 96.7-percent-leased center include Panera Bread, Vision World, Great Clips, Coral Springs Physicians and El Mariachi Restaurant. 

The center is situated on 14.1 acres at 2001-2153 University Drive within the city of Coral Springs.  Coral Palm Plaza is located in the northwestern part of Broward County three miles east and south of the Sawgrass Expressway and five miles west of the Florida Turnpike.  More than 350,000 residents live within a five-mile radius of the center.

The HFF investment sales team representing the seller was led by managing director Luis Castillo, senior managing director Daniel Finkle, and associate director Nat Scarmazzi.

“Coral Palm Plaza’s combination of food, fitness and destination anchors coupled with the property’s excellent positioning within the desirable Coral Springs market appealed to buyers,” Castillo said. “This property is well positioned for the future and will continue to outperform the market under the new ownership.”

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


Friday, December 11, 2015

Voit Real Estate Services Completes Nine Industrial Sale Transactions totaling About $50 Million in Orange County, CA

  


 66,000-SF Industrial warehouse, 
12621 Western Avenue, 
Garden Grove, CA
ORANGE COUNTY, CA  – Voit Real Estate Services has completed nine sale transactions for industrial properties in Orange County, California totaling approximately $50 million in the past eight weeks.

The transactions encompass industrial sales in Anaheim, Buena Park, Garden Grove, Huntington Beach, Santa Ana, and Westminster.

“The Orange County industrial market is tremendously active, and we anticipate that the pace of industrial activity will continue to increase as 2016 comes to a close,” says Trent Walker, an Executive Vice President and board member for Voit Real Estate Services.  

“Demand for industrial product continues to outpace supply, motivating buyers to move more quickly, and giving sellers the opportunity to stretch for premium prices.”

Trent Walker
Walker notes that creativity will be essential in order to maintain the pace of industrial activity over the next 12 to 18 months.

“The market is extremely tight, and the lack of supply coupled with a continued increase in prices will put pressure on industrial investors, owner/users, and tenants, as well as brokers,” he explains.

 “As a result, brokers will become even more nimble and creative, while industrial buyers and tenants will become increasingly innovative in their approach to industrial space.”

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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Thursday, December 10, 2015

Sunbeam Propeerties’ Andrew Ansin Sees Continued Demand for Apartment Land in 2016


Andrew Ansin
MIRAMAR, FL -- Andrew Ansin, vice president of Sunbeam Properties, developer of the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida, predicts the commercial real estate markets for industrial, multifamily, office and flex space will continue to be strong in 2016.

Here are his predictions:

Industrial

The market will continue to absorb new space coming online.

Rents will only increase slightly, as they are restrained by pre-sold product being developed in North Dade.

There is only a limited supply of land remaining for industrial development in the Dade/Broward market, so land prices will continue to escalate.

MPC will complete its last warehouse building, bringing an end to 30 years of warehouse development, during which it has  built and leased over 5 million square feet of space.

No other industrial product is in the pipe line for SW Broward for 2016, historically a big player in the industrial market.

Existing tenants will continue to expand.

 Flex/Office

Rents and activity will continue to increase as the economy slowly chugs along.

New construction will occur both by owners and speculative developers.

Land prices will increase, reflecting increased demand and a limited number of sites.

MPC will build its first speculative flex/office building in almost 10 years.

 Both markets are also squeezed by the continuing demand for apartment land and the higher prices sites will sell for if they can be developed as apartments instead of industrial or flex/office.

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

Lexi Robinson
Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL 33309

Phone: (954) 776-1999, ext. 255

Hospitality Ventures Management Group (HVMG) In Excess of $200 Million in Development and New Construction Pipeline


 
Robert S. Cole
ATLANTA, GA – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management company, revealed that it has more than $200 million in its current development and construction pipeline.  The assignments are a mixture of new build and renovation projects.

“With the hotel industry enjoying some of its highest periods of occupancy and ever increasing ADR, savvy hoteliers are getting ahead of the game by either building new product or improving what already is in the portfolio to meet the demands of today’s travelers,” said Robert S. Cole, HVMG president and CEO.

 “The leading industry experts continue to predict robust industry growth in the near term.  We are positioning our strategy and portfolio to maximize this growth.”

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

Chris Daly
703-435-6293

El Tucán Rings in the New Year in Miami, FL with a Historic Performance by Tropicana de Cuba


Part of the 15-dancer group from El Tropicana de Cuba performing at Miami's El Tucan
on New Year's eve


Emilia Menocal
MIAMI, FL – To celebrate the upcoming New Year, El Tucán will present the rhythm of Cuba by hosting a historic performance by the world’s most famous cabaret El Tropicana de Cuba.

  In this cultural exchange, 15 dancers will be taking the stage in their internationally recognized feathered headdresses and extravagant costumes. El Tropicana de Cuba will perform alongside Grammy award-winning Marlow Rosado and El Tucán’s 11-piece house band. 

The special three-day performance will take place within the glamorously designed interior of El Tucán. The New Year's show is expected to be a blast from Cuba’s sparkling past, affirming her place in the Latin culture of the future.

The New Year’s event will bring dancers from the very place that made Havana’s culture a world-wide phenomenon dubbed “Monte Carlo in the America’s.”

“It is an honor to host El Tropicana de Cuba on El Tucan’s stage,” says Emilia Menocal, Creative Director of El Tucán.. “As a Cuban growing up away from home, I have always endeavored to build a bridge with the country and its culture.

“Bringing the Tropicana to Miami will mark a historic day in which the two cultures unite, and what better way than doing this through the power of dance and music?”


The show, which comes during a historic time between US and Cuba relations, will mark the first performance of the Tropicana dancers in the United States after 32 long years.

  Miami, the “second Cuba,” will host the performers at El Tucán for a specially organized preview of the cabaret’s world tour, which is scheduled to begin in 2016. 

“This marks the beginning of normalization between Cuba – Miami relations,” says Menocal. “The fact that Miami has now hosted acts such as the Buena Vista Social Club, Cucu Diamantes and now el Tropicana, is symbolic of actual change. Being a Cuban from Miami no longer means you have to feel like an outsider to your own culture.”

Tropicana grew as a global attraction after its opening in the late 1930s in the Marianao district of Havana.  It quickly became one of the top nightclubs and casinos in Cuba, attracting high-end audiences from all over the globe to enjoy performances by world-famous entertainers. 

Over the years, Tropicana’s stage hosted artists such as Edit Piaf, Rosita Fornes, Celia Cruz, Olga Guillot, Carmen Miranda, Nat King Cole, Liberace, and Pedro Vargas, to name a few.

Tropicana has now been named a National Monument – the beacon of Cuba’s admired cabaret culture.

Marlow Rosado
El Tucán will also be offering a limited menu to accompany the special evening.  

The offerings feature a number of dishes that are refined twists on a blend of classic Cuban, Latin, and Caribbean fares including a Tuna Belly Tostada, served with a grilled habanero salsa and fragrant herbs.  

Keeping with El Tucán’s accolades to tradition, in this dish classic tastes are blended together to offer a fresh and modern take on the flavors of Cuba.  

The Florida White Shrimp is also an enticing option, served with banana, almond, and adobo.  

These selections are exclusively part of the New Year’s Eve Menu, specially created to celebrate the upcoming New Year and to accompany the rhythms of El Tucán’s highly anticipated Tropicana guests.

Danny Santiago
At El Tucán, be transported into the past by the rhythm, the sounds, the tastes, and the sights of Tropicana while welcoming all that the future, and the New Year, has to offer. 

Tickets can be purchased via http://eltucanmiami.com or by calling: 305-535-0065

December 31st – prime seating is available for $450 per head including dinner and show; upstairs seating is available at $350 per head including dinner and show. General entrance for non dinner guests $90 with complimentary champagne.

On January 1st and 2nd – prime seating is available at $250 per head including dinner and show; upstairs seating is available at $190 per head including dinner and show. General entrance for non dinner guests is $45.

Rosita Fornes
Designed by renowned New York interior designer Robert McKinley, El Tucán is more than just a dinner and a show experience. It is a modern-day cabaret that pays homage to Cuba in the 1940s, transporting revelers to the bygone era of glitz and glamour.

Located in the Brickell neighborhood of Miami, the venue will feature a range of musical styles from Afro-Latin to Parisian pop, bringing international bands, as well as renowned and emerging DJs from around the world, center stage in stunning costume designs by the famed stylist Danny Santiago.

In addition to an eclectic musical lineup, El Tucán will house a resident 11-piece Latin orchestra, carefully curated by Grammy award-winning pianist, composer and producer Marlow Rosado, that is reminiscent of the big bands from the jazz eras of the 40s and 50s.

 Food and drink will also be a mainstay at El Tucán, featuring luxe libations by Gabriel Orta and Elad Zvi of Bar Lab and Caribbean and South American fare that will include hints of Amazonian ingredients created by Chef Jean Paul Lourdes.

Executive Chef Jean-Paul-Lordes
The intimate, theater-style venue will also be open late night so partygoers can continue fêting after-hours.

 Located one block south of Mary Brickell Village, at 1111 SW 1st,  El Tucan will be open Thursday – Saturday, 8:00 pm – 3:00 am. Dinner Reservations: available for up to 15 guests. 8:30 pm Seating or 10:30 pm Seating.

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


Paula Antoniazzi
Lifestyle PR Manager
the workshop | 120 NW 25th St., #304 | Miami FL 33127
o. 305.573.4141 | c. 305.632.0868



Instagram: @ElTucanMiami | Twitter: @ElTucanMiami | Facebook: FB.com/ElTucanMiami

$1.4 Million Pizza Hut Sale in Palm Springs, FL Arranged by Marcus & Millichap


Pizza Hut, Palm Springs, FL

Aaron O'Connor
PALM SPRINGS, 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 Pizza Hut, a 2,639-square foot net-leased property located in Palm Springs, Fla. The asset sold for $1,400,000 equating to $531 per square foot.

Richard Moravek, a senior associate, and Aaron O'Connor an associate, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Fairfield, NJ.

“Given the property’s price point, this deal was particularly attractive to end-of-year 1031-exchange buyers,” says Moravek. “We received multiple offers and ultimately closed just under list price with a foreign national buyer.”

The 2,639-square foot Pizza Hut was built in 1998 on 0.84 acres and has 10 years left on its lease. Located at 2800 South Congress Avenue, the restaurant is within walking distance to Saint Luke Catholic School and Fortis College.

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL
(954) 245-3400


Marcus & Millichap Brokers $2.14 Million Sale of Mi Casa Apartments in Coral Springs, FL


Adam Duncan
CORAL SPRINGS, 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 Mi Casa Apartments, a 16-unit apartment property located in Coral Springs, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $2,140,000 equating to $133,750 per unit.

Adam Duncan, a senior associate, Joseph P. Thomas, a vice president investments, and Derek Soven, an associate, all in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Coral Springs, Fla., and the buyer, a private investor from Davie, Fla.  This is the third transaction Duncan, Thomas and Soven have closed in Coral Springs in the past six months. 

 “The sale of Mi Casa Apartments represents one of the highest sale prices per unit within the submarket,” says Duncan.

Constructed in 1983 on a 1.02 acre lot, Mi Casa Apartments consists of two, two-story buildings with 10 two-bedroom/two-bathroom units and six three-bedroom/two-bathroom units.

Mi Casa Apartments is located at 3301 Northwest 101st Avenue in Coral Springs, Fla.  The property is situated between Coral Springs Drive and North University Drive in a residential neighborhood, with restaurants and retail properties located along Sample Road. It is also near the Sawgrass Expressway and Florida’s Turnpike.

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL
(954) 245-3400


Hold-Thyssen negotiates $9.26 Million three-property portfolio sale to South Florida Investor



Anthony Fisher
WINTER PARK, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated the sale of a three-property portfolio of Orlando area commerce centers totaling 306,683 square feet of industrial flex space for $9,260,000.

 Anthony Fisher, Vice President at Hold-Thyssen brokered the transaction representing the Seller, Miami-based LNR Partners, LLC.   The South Florida buyer has retained Hold-Thyssen to perform management and leasing services.

The portfolio, which Hold-Thyssen has been managing for more than five years on behalf of the seller, includes 118,378 square foot Kennedy Commerce Center at 997 W. Kennedy Blvd., which sold for $4.2 million; the 64,350 square foot Edgewater Commerce Center at 6250 Edgewater Drive, which sold for $2.12 million; and the 123,955 square foot Kirkman Commerce Center at 701 S. Kirkman Rd., which sold for $2.94 Million.  

Fisher said all three properties underwent several capital improvement projects over the last two years including new landscaping, pylon signage and exterior paint. 

Kennedy Commerce Center
“The improvements, combined with excellent location, high visibility and relatively low competition in the areas facilitated a dramatic increase in leasing activity before the time of sale,” Fisher explained.

The buyer recognized the potential upside of the portfolio with the increased leasing activity and the ability to raise rents in the coming months.

“Each property’s occupancy was 74 percent or lower at the time of the sale leaving plenty of room for lease up,” Fisher added.  

Hold-Thyssen Inc. is a real estate firm providing commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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


BB&T Bank in Fort Lauderdale, FL Sold for $7.1 Million in Deal Handled by Marcus & Millichap


Richard Moravek
FT. LAUDERDALE, 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 BB&T Bank, a 2,636-square foot net-leased property located in Ft. Lauderdale, Fla. The asset sold for $7,100,000 equating to $2,693 per square foot.

Richard Moravek, a senior associate in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Syosset, NY.  The buyer was a private investor from Boca Raton, Fla.

“Single-tenant properties remain in strong demand, and compressed cap rates have driven prices higher for prominent properties,” says Moravek  “This was an opportunity to acquire a desirable asset in a trophy location with just under 10 years left on the base lease.”

Built in 2007 on a 0.88-acre lot, BB&T Bank is located east of Federal Highway (US-1) at 900 SE 17th Street. The BB&T Corporation (Branch Banking & Trust) is one of the largest financial services holding companies in the United States.

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

Ryan Nee
Regional Manager
 Fort Lauderdale, FL
(954) 245-3400

$9.5 million sale of Choctaw Plaza in Fort Walton Beach, FL arranged by Marcus & Millichap


Marc E. Strauss
FORT WALTON 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 Choctaw Plaza, a 97,171-square foot shopping center located in Fort Walton Beach, Fla. The asset sold for $9,500,000 equating to $98 per square foot.

Marc E. Strauss, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, and Al Palacios, a senior associate in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a partnership from Destin, Fla. 

The buyer, a limited liability company from Syasset, NY, was secured and represented by Cory Gross, an associate in Marcus & Millichap’s Denver office.

“Choctaw Plaza was recently renovated and is fully stabilized. Almost 70 percent of its tenants are national retailers,” says Strauss. “We received multiple competitive offers from across the country and the property sold for a competitive capitalization rate based on actual income.”

Choctaw Plaza is a 96,900-square foot, nationally-anchored neighborhood shopping center situated on 7.19 acres.  The plaza’s tenants include: Big Lots, Dollar General, Rent A Center (RAC), Compass Bank, Coldwell Banker, and US and Florida Government Agencies.

The center is located at a signalized intersection in a busy retail corridor at 111 Racetrack Road NW in Fort Walton Beach, Fla.
                                                            

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

Ryan Nee
Regional Manager, Fort Lauderdale

(954) 245-3400

Wednesday, December 9, 2015

Lincoln Harris Brokers Six Leases Totaling 25,665 Square Feet in Raleigh, NC and Durham, NC


John Mikels
RALEIGH, NC — Lincoln Harris’ Raleigh office has brokered six leases totaling 25,665 square feet in Raleigh and Durham, North Carolina. The details of the transactions are below:

       Contego Medical signed a 1,996-square-foot lease at Sunset Ridge II, located at 3921 Sunset Ridge Road in Raleigh. Kaler Walker represented the landlord, Velocis, in the transaction, and Gardner Gibson of Davis Moore Capital represented the tenant.

·       Gerreshimer Glass signed a 2,020-square-foot lease renewal at the Cedar East Building, located at 3101 Poplarwood Court in Raleigh. Walker represented the landlord, Cedar East and Cypress, LLC, in the transaction and Braxton Anthony of Avison Young represented the tenant.

·       Stantec Inc. signed a 2,265-square-foot lease expansion at 801 Jones Franklin Road in Raleigh. Walker and John Mikels of Lincoln Harris represented the landlord, True North Management Group, in the transaction. JLL represented the tenant in the transaction.

·       Time to Drive Holdings, LLC signed a 6,600-square-foot lease at Presidential Park West at 2415 Presidential Drive in Durham. Mikels represented the tenant in the transaction and Courtney Keller and Michael Hoffman of Sperry Van Ness represented the landlord, William Love III Living Trust.

Gardner Gibson
       Pintail Capital, LLC signed a 784-square-foot lease at University Tower, located at 3100 Tower Blvd. in Durham. Mikels represented the tenant in the transaction and David Urben of Urben Commercial Properties represented the landlord, The Dilweg Companies.

·       SOURCE North America Corporation signed a 12,000-square-foot lease at a distribution facility located at 6617-A Fleetwood Drive in Raleigh. Walker represented the tenant in the transaction and Jake Plotkin of NAI Carolantic Realty, Inc. represented the landlord, Gunter Realty, LLC.

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)



Lincoln Harris Brokers Additional Leases to Kick Off New Construction at Phase II of Patterson Place in Durham, NC


Kaler Walker
RALEIGH, NC (Dec. 9, 2015) — Lincoln Harris’ Raleigh office has brokered two leases that will kick off new construction at Phase II of the Patterson Place retail center, located at 5324 McFarland Drive in Durham, North Carolina.

Kaler Walker and John Mikels of Lincoln Harris represented the landlord, BP Phase2, LLC, in the transactions. The details are below:

·      Blaze Pizza signed a 2,650-square-foot lease for their third location in the Research Triangle region. Blaze is a new fast-casual pizzeria serving up thin-crust pies made with creative toppings and sauces.

·      Phenix Salon Suites signed a 3,842-square-foot lease. Phenix is an upscale booth rental salon concept allowing salon professionals to own and operate their own business.

Additionally, Laboratory Corporation of America (LabCorp) signed a 1,545-square-foot lease at a previously existing medical office building at the property. LabCorp provides laboratory tests and services to medical professionals.

These tenants join Moe’s, Applebee’s, AT&T, Five Guys Burgers and Fries, and Duke Medicine in Phase II of Patterson Place, an outdoor mixed-use center located right off I-40 at the intersection of US 15/501 and SW Durham Drive in Durham.

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)