HFF closes sale of and arranges financing for Greater Boston area grocery-anchored shopping center

  

Hood Commons Shopping Center, 55 Crystal Avenue, Derry, NH

Jim Koury

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Hood Commons, a 208,805-square-foot, grocery-anchored shopping center in Derry, New Hampshire.

HFF marketed the property on behalf of the seller, NG Hood Commons LLC, and procured the buyer, an affiliate of New York-based Northeast Capital Group.  Additionally, HFF assisted the new owner in securing a 70 percent loan-to-value, 3.79 percent, 10-year, fixed-rate acquisition loan with additional good news fundings.

Hood Commons occupies a 23-acre site at 55 Crystal Avenue in Derry, New Hampshire, a bedroom community just 32 miles north of Boston.  Fronting the heavily traveled Route 28, the property has daily traffic counts of 15,000 cars per day and has a five-mile demographic profile of nearly 60,000 people with an average household income of more than $90,000. 

The property is two miles from Interstate 93, allowing the site to draw from a broad geographic region including communities in both northern Massachusetts and southern New Hampshire.  Renovated in 2015, Hood Commons is 86 percent leased to tenants including Shaw’s Supermarket, Big Lots, Tractor Supply Co., Planet Fitness and Sally Beauty.

The HFF investment sales team representing the seller was led by senior managing director Jim Koury.

HFF’s debt placement team was led by director Porter Terry.

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

Kristen M. Murphy

Director, Marketing

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

American Realty Advisors Acquires Class A Office Asset in Jersey City, NJ for $101 Million

30 Montgomery Street Office Tower, Hudson Waterfront, Metro New York City

 Jersey City, NJ, July 7, 2016 – American Realty Advisors has acquired  a 16-story boutique office tower located in the Hudson Waterfront 30 Montgomery Street,submarket of the New York City Metro area for $101 million. 

The 315,385 square-foot building, which is ideally situated on the New Jersey Hudson Waterfront within one block of a major mass transit hub, was substantially upgraded and renovated over the last several years. 

Kirk Helgeson

American was attracted to the asset because of the direct transportation link to Manhattan, as well as access to new and growing amenities.

 In addition, 30 Montgomery will benefit from its position as a lower rent alternative in an emerging 18-hour live/work/play location, which is similar to other emerging markets throughout the country, e.g. the Chicago Fulton Marketplace in which American recently acquired Google’s Midwest headquarters.

According to Kirk Helgeson, American’s Chief Investment Officer, “30 Montgomery’s location is particularly attractive based on the rapidly transforming Hudson Waterfront submarket, which is benefitting from strong population growth, sustained residential development, expanding cultural/entertainment/retail amenities, and a diversification of the local employment base.”

Helgeson also notes that this asset is ideally situated to benefit from one of America’s fastest growing residential markets.

“Jersey City is projected to add nearly 7,500 units by the end of 2017, driving additional economic growth associated with the new residents, service providers, retail, and amenities necessary to support a thriving 24/7 CBD,” says Helgeson.

The seller was represented by David Bernhaut, Andrew Merin, and Gary Gabriel of Cushman & Wakefield. 

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

Devin Ugland / Jenn Quader for American Realty Advisors

Brower, Miller & Cole

(949) 955-7940,

DUgland@BrowerMillerCole.com

Stepp Commercial Completes $2.95 Million Sale of Apartment Property in Long Beach, CA

 

Robert Stepp

 LONG BEACH, CA – Stepp Commercial, a leading multifamily brokerage firm in the Long Beach market, has completed the $2.95 million sale of Bluff Park Apartments, a 12-unit multifamily property in the prime Alamitos Beach submarket of Long Beach.

Robert Stepp, principal of Stepp Commercial, represented the seller, San Francisco-based Virtu Bluff Park Associates, LLC, as well as the buyer, Long Beach-based Seaward Road Enterprises, LLC in the transaction. The property closed at a 5.32 percent cap rate and a price per unit of $245,833.

“Bluff Park Apartments offered the buyer a rare, turn-key condition asset that offers strong in-place cash-on-cash returns that he plans on holding long-term,” noted Stepp. 

“It is also in a prime location just one block from Bluff Park and the beach, and is also close to Retro Row and Downtown Long Beach – areas that offer a wide variety of shopping, entertainment and dining amenities.”

Bluff Park Apartments, 1825 East 1st Street,
 Long Beach, CA

Built in 1953 and located at 1825 E. 1st Street, the well-maintained property includes 10 one-bedroom units and two two-bedroom units. 

Eleven of the units were recently fully renovated and feature hardwood floors, granite countertops, stainless steel appliances, and in-unit washers and dryers.

Year-to-date, Stepp Commercial has completed 31 transactions totaling 575 units with a cumulative value in excess of $116 million.

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

Darcie Giacchetto

949.278.6224

 www.SteppCommercial.com

Lincoln Property Co. Signs Two New Leases in Duluth, GA

George Gwaltney

 ATLANTA, GA (July 7, 2016) – Lincoln Property Company (Lincoln) has brokered two new leases totaling 4,513 square feet at 6340 Sugarloaf Parkway, a Class A office building located in Duluth, Georgia.

Jeff Henson and George Gwaltney represented the landlord, Kapoor & Sons, LLC, in the transactions.

Edwards Pitman Environmental, Inc. signed a new lease for 2,175 square feet. Kevin Creel of Cresa Partners represented the tenant. Additionally, Holt Consulting Co., LLC, signed a new lease for 2,338 square feet. Rob Coatsworth of CTR Partners represented the tenant.

“Duluth has been growth market during the past couple of years, and an increasing amount of office tenants are seeking space at well-located, well-amenitized properties in the area,” Gwaltney said. “The building’s recent renovations, on-site management and local proactive ownership sets it apart from other properties in the market.”

The four-story, 103,742-square-foot building features a recently renovated lobby and common areas, a prominent location fronting Sugarloaf Parkway and is located adjacent to the Infinite Energy Center.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

 www.lpcsoutheast.com.

www.lpcsoutheast.com/blog.

  

Banyan Tree Management Signs 2,297-Square-Foot Lease at Lenox Plaza in Atlanta, GA

  

 

Jeff Henson

 ATLANTA, GA – Lincoln Property Company (Lincoln) has brokered a new lease with Banyan Tree Management totaling 2,297 square feet at Lenox Plaza, an office building located in Atlanta’s desirable Buckhead submarket.

Jeff Henson, Hunter Henritze and George Gwaltney of Lincoln represented the landlord, HD Realty, in the transaction, and Tommy Bond with Southeast Realty represented the tenant.

“Buckhead remains one of Atlanta’s most sought-after markets for office space,” Henson said. 

“With leasing velocity showing great traction in the first and second quarters of this year, the building has reached 85 percent leased and we believe activity will continue in the remaining half of this year.”

Hunter Henritze

Lenox Plaza is located at 3384 Peachtree Road with Lenox Square Mall, Phipps Plaza, fine dining and entertainment nearby. 

The nine-story, 100,882-square-foot office building boasts a premier location with access to the nearby Buckhead MARTA Station as well as a private road that allows tenants and visitors easy access to the building from Peachtree Road.

The building underwent renovations in 2011 with interior upgrades to its elevators and lobby area, and a modernization of its exterior with a sleeker awning and new signage.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

 www.lpcsoutheast.com.

www.lpcsoutheast.com/blog.

 

Mortgage Bankers Association Releases Updated Commercial/Multifamily Real Estate Finance Forecast

Jamie Woodwell

 WASHINGTON, DC --The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will total $500 billion in 2016, roughly flat from the $504 billion originated in 2015 and slightly less than the record of $508 billion originated in 2007.

 Mortgage banker originations of multifamily mortgages are forecast at $210 billion in 2016, with total multifamily lending at $273 billion.

"The year has started off with more than its fair share of twists and turns," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research.

“When all is said and done, commercial and multifamily real estate finance markets are likely to end 2016 with another strong year of borrowing and lending.  On the demand side, strong property fundamentals and prices should continue to support an active sales market, which will drive mortgage demand."

Woodwell said, "On the supply side, solid originations for life companies, Fannie Mae, Freddie Mac and bank portfolios are expected to make-up for some – but not all – of the slowdown in the CMBS market this year. 

“The net result will likely be 2016 originations coming in just a shade lower than 2015 levels.  Global economic uncertainty and a range of regulations that could affect the availability of CRE financing remain wildcards.”

Commercial/multifamily mortgage debt outstanding is expected to continue to grow in 2016, ending the year at $2.9 trillion, more than three percent higher than at the end of 2015.

MBA's commercial/multifamily members can download a copy of MBA's Commercial/Multifamily Real Estate Finance Forecast at www.mba.org/research.

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

Charles Dunn Company Names Christianne Schrobilgen as Vice President of Marketing

  

Christianne Schrobilgen 

LOS ANGELES, Calif. July 7, 2016 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has named Christianne Schrobilgen as Vice President of Marketing.

 In her new role, Schrobilgen will lead and grow the firm’s marketing department for its brokerage and property management divisions.

 “Aligned with our new strategic direction that is being led by the firm’s President of Brokerage Services, David Pinsel, my goal is to successfully redefine our entire marketing program by utilizing the latest technologies and experienced, passionate talent,” said Schrobilgen.

She adds: “Every assignment has a story, our job as marketers is to tell that story and deliver the resources necessary to find the right match between tenant and landlord or buyer and seller through exceptional customer service.”

Schrobilgen has more than a decade of marketing experience within the commercial real estate industry. She most recently served as Associate Director for Colliers International’s national business development marketing team.

There she managed a wide range of marketing services to help Colliers pursue and win large-scale business including developing go-to-market strategies.  Prior to joining the business development team, she served as a Colliers marketing and team manager for a national, institutional retail investments team. 

David Pinsel

“I worked with Christianne for several years and have seen her talent and marketing expertise first hand. I am extremely pleased that she has joined Charles Dunn,” said Pinsel. 

“We are aggressively expanding the Charles Dunn platform in order to take the firm to the next level by cultivating the corporate culture and growing its market share.

“With Christianne leading Charles Dunn’s marketing team, we will have a crucial part of the infrastructure in place.”

Some of Schrobilgen’s key responsibilities will be to grow the marketing team, train and retain talented and forward-thinking creatives; increase speed-to-market for properties; spearhead tech operations and enhance tech infrastructure to expand resources and efficiency; oversee corporate brand management; and work with the executive team on growth and strategic direction.

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com

Hold-Thyssen Completes Three-Year Lease for 3,330 Square Feet at Maplewood Plaza in Jupiter

Therese Taylor

JUPITER, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently completed a three-year lease renewal agreement for 3,330 rentable square feet of office/warehouse/flex space at Maplewood Plaza, 407 Maplewood Drive in Jupiter.

Therese Taylor, leasing agent at Hold-Thyssen, represented the Miami-based landlord GECMC 2005 in the transaction. 

The tenant is Flor-Source Enterprises No.1, Inc.  a carpet and flooring distributor. 

Hold-Thyssen, Inc. provides 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

Cushman & Wakefield Brokers Sale of Two-Property Seniors Housing Portfolio in Suburban Louisville, KY

Allen McMurtry

Megan Fetter

TAMPA, FL, July 7, 2016 -- Cushman & Wakefield negotiated the sale of a two-property, 145-unit senior housing portfolio in suburban Louisville, Ky., comprised of Elmcroft at Oaklawn and Elmcroft of Valley Farms.

Based in Cushman & Wakefield’s Tampa office, Executive Managing Director Allen McMurtry, Senior Managing Director Megan Fetter and Senior Managing Director David Kliewer represented seller Senior Care US Holdings, Inc. in the disposition.

Capital Health Group, LLC purchased the assets on behalf of CHH Senior Housing, LP, a Capital Health Group sponsored programmatic joint venture with Hunt Realty Investments and the Teacher Retirement System of Texas.

David Kliewer

Elmcroft at Oaklawn is an 80-unit assisted living and memory care facility built in 2012 on ±5.62 acres at 100 Shelby Station Drive. The two-story, ±71,963-square-foot building offers 56 assisted living units and 24 memory care units.

Elmcroft of Valley Farms is a 65-unit assisted living and memory care facility built in 2012 on ±6.65 acres at 10201 Valley Farms Boulevard. The one-story, ±61,074-square-foot building offers 31 assisted living units and 34 memory care units for a total of 65 certified units.

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

David A. Meyer 

Meyer Media 

407.489.7488 

david@meyer.media

www.meyer.media

Allen McMurtry

813 349 8349

Walter Saad and Cathy Nabours

                            

AUSTIN, TX,  July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its Austin office with the addition of Walter Saad and Cathy Nabours, who have joined the firm as managing directors.

 The team, formerly of CBRE, will focus on capital markets transactions across all property types in Central Texas.

Walter Saad has more than 30 years of industry experience and has been involved in the disposition of more than 7.8 million square feet of property sales totaling more than $970 million in volume. 

Sean Sorrell

He was most recently a first vice president of the CBRE Investment Properties team in Austin and has also held posts at Insignia/ESG, overseeing the Central Region Acquisitions team.

 Mr. Saad is a CPA in Texas and is an active member of The Real Estate Council of Austin, International Council of Shopping Centers and the Austin Chamber of Commerce.  He holds a bachelor’s degree in business administration from the University of Notre Dame. 

Cathy Nabours was most recently a first vice president in the Austin CBRE Investment Properties Group where she closed more than 130 properties valued at more than $760 million. 

She is affiliated with the International Council of Shopping Centers and sits on the Board of Directors for the Real Estate Council of Austin.  

Philanthropically, she is a founding member of The Fifty Young Leaders Board, which is in support of the new teaching hospital at Seton University Medical Center Brackenridge in Austin.  Ms. Nabours is a graduate of The University of Texas at Austin.

 In addition, the team will be supported by Laura Fincher, who joins HFF as a production coordinator.

“Walter and Cathy are two of the preeminent commercial transaction professionals in the Austin marketplace. We are thrilled they have decided to come on board with HFF,” said Sean Sorrell, senior managing director and co-head of HFF’s Austin office.

Doug Opalka

  “HFF has grown its Austin presence consistently since 2011, increasing head count and market share, and the addition of Walter, Cathy and Laura will undoubtedly continue that momentum.”

“HFF’s success nationally, in Texas, and here in Austin, is based on a really simple formula: we put our client’s interests first, we have a culture built on collaboration and teamwork, and we very simply hire the absolute best practitioners across our business lines in each market. 

“Walter and Cathy fit this model seamlessly and we are excited to combine their talents with our platform.  This will make the excellent service we provide to our clients in Central Texas even better,” added Doug Opalka, senior managing director and co-head of HFF’s Austin office.

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

Kristen M. Murphy

Director, Marketing

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

HFF arranges $21.878 million in financing for lab conversion in North Carolina’s Research Triangle

  

Venture Center, 4117 Emperor Boulevard, Durham, NC

 

Greg LaBine

CHARLOTTE, NC, July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $21.878 million in financing for Venture Center, a vacant, 138,337-square-foot, single-story lab building in Durham, North Carolina.

HFF worked on behalf of the borrower, an affiliate of Longfellow Real Estate Partners, to secure the three-year, floating-rate loan through Citizens Bank.  Loan proceeds will be used to fund capital improvements for the lab conversion.

Venture Center is situated on 14.26 acres at 4117 Emperor Boulevard in the Research Triangle area of North Carolina.  This location positions the property less than two miles from Research Triangle Park and less than five miles from the Raleigh-Durham International Airport in the Research Triangle Park/Interstate 40 corridor submarket of Raleigh-Durham.

  GlaxoSmithKline, the longtime tenant at the property, sold and vacated the building late last year.  The new owner will implement a complete rebuild of the lab space that will include adding a new loading dock, additional parking spaces, repainting the building and fully landscaping the courtyard. 

“Longfellow's science and technology ecosystem consists of the highest quality buildings in the best locations. We see outstanding value and opportunity in the Research Triangle area’s concentration of talented individuals, exceptional universities, entrepreneurial spirit and thriving quality of life,” said Adam Sichol, managing partner, Longfellow Real Estate Partners.

Cory Fowler

The HFF debt placement team representing the borrower was led by managing director Greg LaBine and associate director Cory Fowler.

“The Research Triangle is one of the fastest growing hotspots for technology and life sciences.  As such, Longfellow has identified robust demand in the market for professionally owned and operated life science real estate,” said Fowler. 

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

Kristen M. Murphy

Director, Marketing

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.lfrep.com

CHMWarnick Awarded Asset Management of Hilton Cleveland Downtown

Chad Crandell

BOSTON, MA  (July 6, 2016) - - - CHMWarnick (“CHMW”), the leading hotel asset management and business advisory services company, today announced that it has been selected by Cuyahoga County to asset manage the 600-room Hilton Cleveland Downtown.

 The $272 million publicly-funded hotel, which opened June 1, 2016, is connected to the First Merit Convention Center, the Global Center for Health Innovation, and Mall B, creating a world-class meetings destination.

"With the addition of the Hilton Cleveland Downtown, CHMW’s 50-plus property asset management portfolio now includes a total of 12 convention center headquarter hotels, with more than 12,000 rooms and one million-plus square feet of meeting space, providing us with unparalleled experience in big-box, group-oriented hotels," said Chad Crandell, managing director and CEO of CHMW.

 "We believe CHMW is now the largest asset manager within this segment. We have asset management responsibility for the single largest hotel in each of approximately half of the U.S. major metropolitan markets, including such cities as Anaheim, Atlanta, Chicago, Cleveland, Detroit, Phoenix and Washington, D.C., among others.

Michael W. Dever

“Working with virtually all of the major brands, including Marriott, Starwood, Hyatt and Hilton, no single firm has our experience in representing the interests of public and private clients in the planning, pre-opening and operational oversight of convention center hotels."

            CHMW was selected following a public RFP process. “CHMW is a proven asset management firm that has produced excellent results for its convention center hotels,” said Michael W. Dever, director of public works for Cuyahoga County. “They were a natural choice to represent the County’s interests to ensure we achieve our business goals.”

The Hilton Cleveland Downtown will offer 46,000 sq. ft. of meeting space with a seamless connection to the 395,000 sq. ft. of function space at the adjoining Convention Center.  Hotel amenities include a full-service business center, indoor pool, fitness center and state-of-the-art guest rooms.

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

chris@dalygray.com

www.chmwarnick.com

978-522-7000.

Berger Commercial Realty Secures More Than 10,000 Square-Feet in South Florida Lease Transactions

Joe Byrnes

FORT LAUDERDALE, FL (July 6, 2016) - Berger Commercial Realty Senior Vice President Joe Byrnes and Senior Sales Associate Jonathan Thiel recently secured 10,498 square-feet in lease transactions for landlords across Broward County.

Powerline Business Center

Byrnes and Thiel represented Rising Tide Development, LLC in renewing its lease for 3,237 square-feet of space to Medicor Healthcare, Inc. and 1,400 square-feet of space each to Festina Lente, LLC and JODA Enterprises, Inc. at Powerline Business Center. Located at 5601 Powerline Road in Fort Lauderdale, the 82,330-square-foot building offers grade-level warehouse, showroom and office space within minutes of I-95 and Florida's Turnpike.

Cypress Creek Business Park

The brokers also represented Rising Tide Development, LLC in renewing its lease for 1,950 square-feet of office space to Cingular Wireless PCS, LLC at the Cypress Creek Business Park in Fort Lauderdale. Located at 6555 North Powerline Road, the property consists of two buildings totaling 54,600 square-feet of space situated just north of Cypress Creek Road near Powerline Road.

Jonathan Thiel

Hollywood Professional Building

Byrnes and Thiel represented Hollywood DEW, LLC in renewing its lease for 1,811 square-feet of office space to Can Am Immigration, Inc. at the Hollywood Professional Building. The 29,044-square-foot office building is located at 6600 Taft Street in Hollywood and offers convenient access to Florida's Turnpike, University Drive and State Road 7.

Parkway Professional Building

The brokers represented DEW Seven, LLC in leasing 700 square-feet of office space to LVM Real Estate, LLC at the Parkway Professional Building. Located at 6151 Miramar Parkway in Miramar, the 40,858-square-foot, three-story building features a courtyard, a key pad entry system, abundant parking and convenient access to Florida's Turnpike and State Road 7.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com 

Algonquin Golf Course in Canada to Undergo Multi-Million Dollar Upgrade

Algonquin Resort, St. Andrews, New Brunswick, Canada

Gerry Chase

St. Andrews, New Brunswick, CANADA (July 6, 2016) -- Gerry Chase, president and COO of New Castle Hotels & Resorts, today announced that top Canadian golf course architect Rod Whitman will lead a generational repositioning of the Algonquin Resort’s highly acclaimed course. 

Whitman most recently gained world renown for his work on Nova Scotia’s Cabot Links, the top course in Canada and winner of the Golf Inc. 2012 Development of the Year award.  Cabot Links has secured two Top 100 Worldwide rankings.

“The Algonquin Golf Course is currently recognized as the best in New Brunswick, and ranks among the top 100 courses in the country,” said Matthew MacKenzie, general manager of the resort. 

“We want to elevate that standing and ensure that our course, a Maritimes treasure that has been challenging and impressing golfers for more than a century, stays competitive in terms of the level of play it offers and the sheer beauty of the design. Who better than Canada’s leading golf course architect to make that happen?”  

Rod Whitman

Whitman’s redesign will accentuate the natural beauty of the region, re-sculpting holes, tee boxes, bunkers and greens to optimize the golfing experience.  Sightlines and views will emphasize the Bay of Fundy location and the historic town of St. Andrews.

“New golf course design is always a creative challenge,” said Whitman. “The Algonquin Resort Golf Club has a long and storied history and I am honoured to be entrusted to re-imagine this national legacy. I look forward to the opportunity to further enhance the golfing experience at this one-of a- kind, seaside resort.”

Originally constructed in 1894, The Algonquin Golf Course was redesigned and expanded with an “executive nine” for those who don’t have time for a full 18 in the 1920s.

The current, 7,000-yard, par 72 course was designed in 2000 and is rated the best course in New Brunswick and ranked among the top 100 courses in Canada by Canadian Golf Magazine.  It’s original clubhouse, is believed to be the oldest in the country.

Jim Spatz

According to Jim Spatz, chairman, and CEO of Southwest Properties, and Atlantic Canada’s 2015 CEO of the Year, preparation for the renovation began in the spring and currently is on hiatus to prevent disruption to summer guests.  

Work will resume post-season and Spatz said that he expects nine holes to open early in 2017, with the remainder slated for July 2017.

            Pre-opening tours for golf media and meeting planners are immediately available by prior arrangement.  Please contact:

            Denise Bradbury

            Director of Sales and Marketing

            denise.bradbury@algonquinresort.com

            1 855.529.8693

  

            Resort reservations and golf tee times are available by calling toll free 855-529-8693 or by emailing reservations@algonquinresort.com.  For additional information about the Algonquin Resort, please visit www.algonquinresort.com

The Algonquin Resort is managed by New Castle Hotels & Resorts, of Shelton Conn. and owned by a partnership between New Castle and Southwest Properties of Halifax, NS. 

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

Lauralee Dobbins

Write Touch Public Relations

609-451-5102

Lauralee@WriteTouchPR.com

Lincoln Property Co. Sells $30 Million Phoenix, AZ Industrial Building to XPO

XPO Supply Chain Building, 7037 West Van Buren Street, Phoenix, AZ

David Krumwiede

PHOENIX, AZ – After leasing a Class A Lincoln Property Company (LPC) distribution facility in the heart of Phoenix’s Southeast Valley industrial market for three years, global supply chain leader XPO Supply Chain Inc. has opted to purchase the building for more than $30 million.

A top-ten global provider of supply chain solutions, XPO (formerly Menlo Worldwide) originally occupied the LPC building 2013, bringing with it wide variety of internet fulfillment-related jobs. Last week, XPO executed its option to purchase the building, which is located at 7037 W. Van Buren St. in Phoenix, for $30,378,000.

“Build-to-suits have been hot in Phoenix for years, but big tenant demand for existing space was average. Now, big tenant activity is on the rise, which is tightening the availability of large blocks of space and making assets like 7037 very attractive for tenants and investors alike,” said Lincoln Property Company’s Executive Vice President David Krumwiede.

The 7037 building totals 552,330 square feet of Class A warehouse/distribution space. Amenities include 31.5 to 35.5-foot clear height, energy efficient lighting, evaporative cooling, skylights and sprinklers.

The 31.8-acre lot includes the main building, a fenced truck court with guard shack and parking for 378 cars, 146 trailer stalls and 100 truck bays with cross dock and front load configurations. It is within a Foreign Trade Zone, providing state and local tax incentives and on-site job training programs. Corporate neighbors include Target, Amazon and HSN.

John Orsak

The project is one mile from Interstate 10, served by two full diamond interchanges at 67th Avenue and 75th Avenue. It is also 15 minutes from Sky Harbor International Airport.

Connecticut-based XPO specializes in supply chain management, truckload brokerage and transportation, high-value-add warehousing and distribution, global forwarding and last mile logistics. 

It employs more than 87,000 in 1,440 locations worldwide, serving more than 50,000 customers including Boeing, The Home Depot, IKEA and L’Oreal.

To discuss development, leasing or investment opportunities with Lincoln Property Company in the Desert West Region, please contact David Krumwiede or John Orsak at (602) 912-8888.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.lpc.com or

www.lpcphx.com