Sunday, July 17, 2016

HFF arranges financing totaling $39.45 million for suburban Denver multi-housing community


Josh Simon
PHILADELPHIA, PA  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $39.45 million in construction and preferred equity financing for the development of Elements at Prairie Center, a 288-unit multi-housing community in Brighton, Colorado.

HFF worked exclusively on behalf of the developer, a joint venture between Delaware-based The Commonwealth Group and Colorado-based C&A Companies, to secure the $31.55 million construction loan and $7.9 million in preferred equity financing.

Elements at Prairie Center is due for completion in third quarter 2017 and will feature 288 units with one-, two- and three-bedroom units averaging 919 square feet each. 

The 12, three-story buildings will be constructed on a 16.56-acre site in the Prairie Center planned community at the intersection of Eagle Boulevard and South 27th Avenue approximately one mile from Interstate 76 and Barr Lake State Park in Brighton, a suburb northwest of downtown Denver.


James Conley
 Upon completion, Elements at Prairie Center will include geothermal heating and cooling systems for all units.  Community amenities will include a resort-style swimming pool with cabanas, 24-hour fitness facilities, children’s playground, dog park, clubhouse and community garden. 

The community will be situated 2.5 miles southeast of Solaire Apartments, a 252-unit, Class A community completed by the developer in 2014.

HFF’s debt placement team was led by managing directors James Conley and Josh Simon.

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


Saturday, July 16, 2016

Westin Jekyll Island Hotel Introduces 50 Shades of Green Meetings

  



At the Georgia Sea Turtle Center, representatives from The Westin Jekyll Island pose with one of the Georgia Sea Turtle Center patients after presenting the first check from their “Make a Green Choice” program to the Jekyll Island Foundation. 

 From left--   Dion Davis, executive director of the Jekyll Island Foundation; Alex Lugo, general manager of The Westin Jekyll Island; Dr. Terry Norton, director and veterinarian for the Georgia Sea Turtle Center; Chandler Sharp, AmeriCorps husbandry member for the Georgia Sea Turtle Center and Kevin Baker, director of sales and marketing at The Westin Jekyll Island.  (photo courtesy Georgia Sea Turtle Center) 


Kimberly Andrews
Jekyll Island, GA -- The Westin Jekyll Island, a 200-room, convention-class, beachfront hotel today announced a unique collaboration developed to address the demands of meeting planners for greener options and distinctly local interaction all while raising money for a nationally acclaimed marine science center in its backyard.

The Westin Jekyll Island will make a donation to the island’s Georgia Sea Turtle Center, the state’s premier sea turtle rescue and rehabilitation center, whenever a guest waives housekeeping services.

“It’s an environmental double play,” said Kevin Baker, director of sales and marketing.  “By donating the fee to the turtle center, we’re doubling the impact of the brand’s Make a Green Choice program, which reduces water and detergent usage.” 

Johns Manville meeting planner, MaryAnn Loonam was among the first to test drive the new offerings when she brought the company’s Environment, Health & Safety meeting to the hotel. 

“Our group was very happy to have donated $250 to the Turtle Center just by participating in Make a Green Choice and the 45 guests who went on the center’s beach walk to collect and log debris in the Marine Debris Tracker got even more from their time on Jekyll Island,” said Loonam.  “Westin Jekyll Island has created an easy and innovative way for groups to make a difference and have a meaningful, local experience.”

Kevin Baker
Just as one green deed deserves another, Baker and the center’s research coordinator, Kimberly Andrews, PhD took the collaboration a step further to let guests see the full spectrum of the island’s green landscape. 

For an additional donation, Georgia Sea Turtle Center staff members will bring rescued animals to mix and mingle with guests at receptions or pre-function gatherings.

“We’ve all been to events with strolling entertainment, but this sort of locally relevant, environmentally informative interaction seems to resonate with group leaders and their guests,” said Baker. “The experts at the center are professional educators, so they welcome the opportunity to share their passion for preservation in an entirely new setting. 

“Most of us have never seen an alligator up close, or had the chance to make eye-to-eye contact with a rescued turtle, and learn about its injuries and the rehab process.  Snakes at a cocktail party get a bigger reaction than slight-of-hand tricks, I can assure you.”


Dion Davis

The turtle center also will arrange private tours of the facility and organize beach walks for groups interested in more in-depth experiences.        

The Westin Jekyll Island was designed to meet Leadership in Energy and Environmental Design, (LEED) Silver specifications and minimize the hotel's impact on the barrier island's sensitive surroundings. 

It is a cornerstone of the community’s Beach Village project, which includes the 128,000-square-foot oceanfront Jekyll Island Convention Center promenade, village green, restaurants, retail shopping and Great Dunes Park.
 
Mary Ann Loonam
 For small groups, weddings and reunions the hotel’s 5,350 square feet of indoor meeting space, as well as outdoor venues promise a memorable event. 

            “Facilities and location are key considerations when choosing a meeting destination,” noted Baker.  “We start with an island that is 67 percent preserved from development, a LEED-designed, oceanfront hotel and certified LEED-Silver convention center.

“ The Westin Jekyll Island amps up the green impact by reducing water waste and making a charitable donation to a local preservation organization, and tops it off with a way to bring the outdoors in with local environmentalists.  We think this will be a powerful combination for meeting planners to make a memorable experience for their guests.”

With ocean views and direct beach access, the Westin Jekyll Island features the complete suite of Westin signature amenities including the Heavenly Bed®, and Heavenly Bath® with exclusive White Tea Aloe bath amenities, all designed to promote overall wellbeing. In-room, high-speed Internet access and an ergonomic work space will offer travelers convenience and productivity in a tranquil setting.

 Dining options at The Westin Jekyll Island include The Reserve, an upscale, casual restaurant serving the freshest local seafood and Salty's poolside bar and cafĂ© for cocktails and lighter fare. Harry’s @The Reserve, the hotel’s outdoor rooftop bar with sweeping views of the beach and ocean is available for private parties.


Westin Jekyll Island Hotel, Jekyll Island, GA
Westin SuperFoodsRX™ options are on the menu at all three restaurants.  Additional facilities include a resort-style outdoor pool, beach chair and umbrella service, and the brand’s signature WestinWORKOUT® gym experience, including loaner gear and a running concierge.

Close to the island's National Historic Landmark District, The Westin Jekyll Island also is convenient to the island's four golf courses, 10 miles of barrier island beaches and a variety of outdoor recreation, including marsh eco-tours, and more than 20 miles of bike paths and kayaking waterways.

            The Westin Jekyll Island offers the Starwood Preferred Guest® program, which offers members the ability to redeem awards at more resorts, more luxury properties, more European hotels and more golf properties than any other hotel program without blackout date restrictions.  
  
For a complete copy of the company’s news release, please contact:

Lauralee Dobbins
Write Touch PR
856-979-8929




Lincoln Brokers 17,272-Square-Foot Lease Renewal with Baumueller-Nuermont Corp. in Norcross, GA




Denton Shamburger
ATLANTA, GA – Lincoln Property Company (Lincoln) has brokered a five-year, 17,272-square-foot lease renewal for Baumueller-Nuermont Corp. at 1555 Oakbrook Place, a flex warehouse property located in Norcross, Georgia.

George Gwaltney and Denton Shamburger of Lincoln represented the landlord, Blackstone, in the transaction and Eric Vayle of JLL represented the tenant.

“The industrial market has shown strong signs of recovery and is expected to continue to show marked improvement through the remainder of the year,” Shamburger said. “Norcross in particular has proved a growing industrial market, and we are glad Baumueller-Nuermont Corp. sees the value in leasing at Oakbrook Place.”

The single-story, warehouse flex space is part of the Oakbrook Place office complex located in Norcross. The property sits on more than five acres and offers convenient access to the Jimmy Carter and Indian Trail exits off Interstate 85, as well as an 18-foot clear height, large truck courts, and office, grade-level and dock-high loading.

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

Savannah Durban
The Wilbert Group
404-343-0870


Marcus & Millichap Handles $390,000 Sale of Seven-Unit Aguila Palms Apartments in Tampa, FL


Shawn Rupp
TAMPA, 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 Aguila Palms, a seven-unit apartment property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $390,000.

Shawn Rupp, associate, Luis Baez, senior associate, and Casey Babb, CCIM and vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a partnership.  The buyer, a limited liability company, was also secured and represented by the three brokers.

Aguila Palms is a two-story, garden-style apartment building located at 2501 North B Street in the West Tampa submarket and just two blocks from Kennedy Boulevard and Howard Avenue. Constructed in 1924, the property consists of four, one-bedroom/one-bathroom, two, two-bedroom/one-bathroom and one, three-bedroom/one-bathroom apartments averaging approximately 529, 640 and 720 square feet, respectively.

“Our brief marketing campaign created significant interest in the offering, which resulted in a full price offer, five-day due diligence and closing in under 30 days at 97.5 percent of the asking price,” says Rupp. “The buyer is planning to reposition the asset and bring rents to market, and the property is projected to restabilize at an in-place 9.5 percent cap rate.”

“For our team, Aguila Palms is the seventh South Tampa closing in four months, and our average list-to-close ratio for the submarket is 100.45 percent,” Rupp concluded.

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

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL

(813) 387-4700

Marcus & Millichap Brokers $7.75 Million Sale of 136-Unit Bay Point Villas Apartments n St. Petersburg, FL


Michael P. Regan
ST. PETERSBURG, 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 Bay Point Villas Apartments, a 136-unit multifamily community located in St. Petersburg, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $7,750,000.

Francesco P. Carriera and Michael P. Regan, both first vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Carriera and Regan.

Bay Point Villas Apartments, a 136-unit multifamily community, is located at 2150 62nd Terrace South in St. Petersburg, Florida. The property consists of seven, two-story residential buildings and a freestanding, one-story building that serves as the leasing office, clubhouse and fitness center.

The residential buildings are comprised of 76 one-bedroom/one-bathroom units with 653 rentable square feet, 30 two-bedroom/one-bathroom units with 927 rentable square feet and 30 two-bedroom/two-bathroom units with 987 rentable square feet. Amenities include on-site laundry facilities, fitness center, business center, resident lounge with community kitchen and a sparkling swimming pool.

“The St. Petersburg real estate market remains strong,” says Regan. “Due to the low inventory but yet very high demand, investors are continuing to see the benefit of renovating assets which is demanding rental increases.”


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

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges $1.5 Million Sale of 24-Unit Continental Park Apartments in Tallahassee, FL


Joshua Teplitzky
TALLAHASSEE, 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 Continental Park Apartments, a 24-unit multifamily community located in Tallahassee, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,500,000.

Joshua Teplitzky, senior associate, Francesco P. Carriera and Michael P. Regan, both first vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the three brokers.

“This transaction demonstrated our ability to drive offers from buyers in multiple geographic regions throughout the country including Arizona, central Florida and New York,” says Teplitzky. “The buyer ultimately came from New York and was able to lock in financing through Freddie Mac for a seven year fixed rate loan.”

Continental Park Apartments is a 24-unit multifamily community located at 2393 Continental Avenue in Tallahassee, Florida. The property consists of all two-bedroom/two-bathroom floor plans with washer and dryer appliances, and the buildings sit on an approximate 1.25 acre parcel of land.

Francesco P. Carriera
Tallahassee is Florida’s State Capital as well as one of Florida's most prominent college cities. As a result, the city functions as Florida’s center for both government and education.

The property is within two miles of Florida State University and Tallahassee Community College, and is located within close proximity of downtown Tallahassee. Tallahassee was voted the “Most Livable City in America” by the United States Conference of Mayors.

“This asset was highly desirable due to its late 1980’s construction and having an average unit size of 1,000 rentable square feet,” concluded Teplitzky.

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

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL

(813) 387-4700

Charles Dunn Co. Completes $16.6 Million Sale of a Retail Center in Overland Park, KS


Metcalf 103 Retail Center, 10303 Metcalf Road
Overland Park, KS
LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States has completed the $16.6 million sale of a Metcalf 103, a regional retail center in Overland Park, KS.

The center is anchored by Walmart Neighborhood Market and includes Pier 1 Imports, Buffalo Wild Wings, Subway, and others.

Barry Rothstein, managing director with Charles Dunn Company, spearheaded the transaction and teamed with a local brokerage group to represent the seller, a tenant-in-common group, as well as the buyer, a locally-based investment company.

Barry Rothstein
Located at 10303 Metcalf Road and situated on 18.48 acres, Metcalf 103 includes 148,560 square feet of multi-tenant retail space in 12 buildings, as well as a 42,403-square-foot ground-leased Walmart Neighborhood Market and a 5,174-square-foot ground-leased Jack in the Box.  

“Charles Dunn and our Kansas broker partner marketed this asset to our comprehensive data bases,” said Rothstein. “Numerous offers were generated and we chose the top five for a best and final offer.

“The buyer liked this asset because it presented a value-added opportunity as well as the potential to redevelop and/or reposition in the future. 

"This future repositioning of Metcalf 103 would be enhanced as it is within the city’s “Vision Metcalf” plan which is designed to infuse capital and quality new development to revitalize the Metcalf Corridor, the City of Overland Park’s most recognizable commercial area.”


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

Darcie Giacchetto

949.278.6224

Charles Dunn Co. Completes $6.72 Million Sale of Single-Tenant Walgreens Property in Liberty Township, OH


Walgreens, 2325 East Camelback Road, #1100, Liberty Township, OH

 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the approximately $6.72 million sale of a single-tenant retail property occupied by Walgreens in Liberty Township, OH.

Barry Rothstein, managing director with Charles Dunn Company, represented the buyer, a private investor from Thousand Oaks, Calif. who was in the upleg of a 1031 exchange. The seller, Phoenix, Ariz.-based VEREIT, 2325 E. Camelback Rd., #1100, was represented by Marcus & Millichap. The closing cap rate was 5.8 percent.

Barry Rothstein
“This property was ideal for my client as it was the upleg in a 1031 exchange transaction,” said Rothstein. “I brokered the sale of his management-involved apartment property in the City of Los Angeles and then the trade into this single-tenant retail asset with a national, investment-grade tenant.

“Overall, this property offered very little management responsibilities and an increase in cash flow of approximately $100,000 annually.”

Rothstein noted that he worked with his client to identify the Walgreens-occupied property as it is well-located in an area with favorable demographics. Additionally, with 20 years remaining on its original term of the lease, it offered a passive and stable investment opportunity.

“The buyer was able to obtain fixed, low interest rate CMBS financing with 10 years of interest only payments,” noted Rothstein.

Built in 2011, the property is situated on nearly 1.8 acres and is located at 6330 Cincinnati Dayton Road. It includes a drive-thru and offers 60 parking spaces. 

The area surrounding this property has excellent demographics and projected growth with a current population of more than 40,700 within a three-mile radius. The area also features a strong amount of national retailers, such as Kroger, Target, TJ Maxx, Home Depot, Cabela’s, PetSmart, and Lowe’s.

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

Darcie Giacchetto

949.278.6224

HFF closes $29 million sale of and arranges $16.25 million financing for Shops at Nod Brook in Avon, CT


Shoppes at Nod Brook, 315 West Main, Avon, CT

 BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $29 million sale of and $16.25 million financing for Shops at Nod Brook, a premier grocery-anchored shopping center in Avon, Connecticut.

Lauren O'Neil
HFF represented the seller, Midwood Investment & Development, in the transaction.  The buyer is a joint venture between the Wilder Companies out of Boston and Principal Real Estate Investors. 

 Principal and Wilder have established a programmatic venture to invest in retail properties throughout the New England area.  Additionally, the new owner was assisted by HFF in securing a five-year, fixed-rate acquisition loan through a global life insurance company.

Shops at Nod Brook is a 99,788-square-foot shopping center that is anchored by The Fresh Market, Marshalls and Michaels.  

The 91.5-percent-leased center also features in-line tenants, Top Nail, Music & Arts, Lane Bryant and Great Clips.

 Located at 315 West Main, Shops at Nod Brook is positioned along the main retail corridor (Route 44) in Avon, 10 miles west of Hartford.  Within a three-mile radius of the property there are more than 23,000 residents with an average household income of nearly $150,000.

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

James Koury
HFF’s debt placement team was led by directors Porter Terry and Lauren O’Neil. 

“We are excited to establish this venture with the Wilder Companies,” said Jim Halliwell, Managing Director at Principal. ”They are a cutting edge retail operating company with vast experience in enhancing value through creative merchandising mixes, architectural  modifications, and thoughtful re-branding initiatives.

“We believe their skill sets will serve the Nod Brook property and others well, generating attractive risk adjusted returns for the ownership group and enhancing the shopping experience for the communities we serve.”

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


HFF represents the Boys & Girls Club of Portland Metro in $8.825 million sale of its Southeast Portland, Oregon location


Carrie Kahn
 PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $8.825 million sale of the 1.21-acre Boys & Girls Club site in Sellwood, a community in Southeast Portland.

HFF marketed the property on behalf of the seller, the Boys & Girls Club of Portland Metro, and procured the buyer, NBP Capital. 

The property was sold on a free and clear basis, and the buyer plans to develop a mixed-use community featuring apartment units and retail.

The Sellwood Boys & Girls Club site is located at 7119 SE Milwaukie Avenue at the corner of SE Ogden Street and SE Milwaukie Avenue in Southeast Portland.  Boasting a Walk Score© of 89, the site is within close proximity to numerous boutique shops, restaurants and cafes that comprise the primarily single-family residential area. 

Within eight blocks of the site, sits the MAX Orange light-rail line that connects Sellwood to downtown Portland and the Oregon Health and Sciences University (OHSU) campus in Portland’s South Waterfront. 

Ira Virden
The HFF investment sales team representing the sellers was led by managing director Ira Virden and director Carrie Kahn.

HFF also made a donation back to the Boys & Girls Club of Portland to fund future programs.

“We were honored to have been selected by the Boys & Girls Club of Portland to market their Sellwood location.  

"This was a high-profile assignment locally, and a hotly contested process that attracted a lot of interest from local and national developers.  

"With a combination of limited new apartment construction in Sellwood and continued in-migration to the Portland market, we expect the new project to do extremely well and be a big boost to the neighborhood,” said Virden.

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


Thursday, July 14, 2016

Record-breaking high-street retail sale in Beverly Hills, CA closed by HFF



Bijan, 420 North Rodeo Drive, Beverly Hills, CA


 
Marc Schillinger
LOS ANGELES, CA, July 14, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of an iconic high-street retail building that houses Bijan on Rodeo Drive.  

HFF exclusively marketed the property on behalf of a confidential seller.  A confidential investor purchased the asset all cash in a transaction.

The property is fully occupied by Bijan, a world-class fashion house that was founded in 1976 and caters on an appointment-only basis to the ultra-high-net-worth international community, drawing customers from the United States, Asia, Europe, Africa, South America and the Middle East. 

Bijan has successfully operated at the subject property for more than 40 years and is the longest-standing privately-owned designer house on Rodeo Drive.

Situated at 420 North Rodeo Drive, the Bijan building is one of the most-recognizable storefronts in retail.  The renowned yellow Rolls-Royce Phantom and the yellow and black Bugatti Veyron (both Bijan limited editions) match the building’s façade and interior and have long been hallmarks of the internationally-acclaimed custom clothier and its late founder, Bijan Pakzad.

Bryan Ley
The HFF team was led by Marc Schillinger, Bryan Ley and Bill Fishel.

"We are thrilled with the record pricing we were able to achieve on our client's behalf," Schillinger said.  "By leveraging our national platform and dedicated expertise across our primary business lines – debt, investment sales and equity placement – we evaluated multiple options in an extraordinarily tight timeframe and, ultimately, delivered the best outcome for our client."

HFF has been extremely active in the Los Angeles area in 2016.  The sale of the Bijan building comes on the heels of the HFF-brokered sale of Runway Playa Vista, as well as high-street retail transactions on Melrose Avenue and Melrose Place, adding to the more than 4.7 million square feet of retail space that HFF has transacted on so far this year in the greater Los Angeles area.

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

Lincoln Property Co. Promotes Megan Watkins to Associate Director of Management Services

  
 
Megan Watkins
PHOENIX, AZ,  July 14, 2016 – Lincoln Property Company (LPC) Desert West has promoted Megan Watkins to Associate Director of Management Services.

In her new role, Watkins will help direct LPC’s regional portfolio of more than 6 million square feet of office, industrial and retail space. She will also work with LPC leadership to expand the company’s already active regional property management footprint.

“Megan has an extremely positive presence and reputation – achievements she has earned through hard work, client commitment and a deep knowledge of the market,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “She is a true reflection of the high standards of Lincoln Property Company, and a valued addition to our leadership team.”

Based in Phoenix, LPC’s Desert West region has enjoyed a record 18 months, with more than $300 million in investment and development activity, and the addition of more than 1 million square feet of new property management assignments. “We have grown – and continue to grow – from our superior results and stellar relationships,” said Watkins. “Lincoln has an outstanding pipeline of opportunities that I am excited and honored to represent.”

For the past two years, Watkins has served as President of the Greater Phoenix chapter of the Building Owners and Manager’s Association, a leading organization of more than 300 local members providing education and advocacy for the commercial real estate industry.

David Krumwiede
During her 17-year career, she has been involved with the management of more than 1.3 million square feet of Arizona real estate, working closely with local and institutional clients, tenants, vendors and contractors, and implementing company-wide policies and procedures for property management, marketing and compliance. 

She most recently served LPC as Senior Property Manager of Paradise Village Office Park, where she was instrumental in the renovation of the Class A Paradise Valley office project.

Watkins earned her Real Property Administrator (RPA) designation through the Building Owners and Managers Institute (BOMI) in 2008 and her Facilities Management Administrator (FMA) designation from BOMI in 2010. In 2015, she was part of the LPC team to accept an International BOMA 

“The Outstanding Building of the Year” (TOBY) award, the highest award possible from BOMA for LPC’s management of the Arizona Game & Fish (AZGF) Department Headquarters in Phoenix. The building was among only fourteen buildings from across the world to earn the International honor.

To discuss property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede, John Orsak or Megan Watkins 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

With Over 110 Years In The “Remaking,” Old New York Meets New New York This July as Landmark Hotel is Reborn

  
HGU New York Hotel, NoMad District at 34 East 32nd Street, Manhattan, NY


(NEW YORK, NEW YORK – July 12th) – Alfa Development, one of Manhattan’s leading real estate companies, will be opening its first boutique hotel project, HGU New York. Alfa Development has invested $18 million in renovations of HGU New York, located in the NoMad District at 34 East 32nd Street.

 The hotel will manifest the city’s history through its original architecture, curated art programming and multifaceted eclectic design.

The hotel lobby preserves the history of the 1905 landmark Beaux-Arts structure designed by architect Frederick C. Browne. To inject a modern New York sensibility to the property, Alfa Development has enlisted hospitality designer Peter Guzy of Asfour Guzy Architects as well as DD Allen of Pierce Allen Design.

Michael Namer
The fusion of these two visions is a mindfully designed and eco-conscious hotel, where guests enjoy in the ambience of communal spaces.  Alfa Development brings a sensibility in design and modern infrastructure to hospitality, including a state of the art HVAC system decreasing the carbon footprint by 50%.

“We look forward to introducing our motto, history, architecture, and sustainability on a human scale into one of the world’s most robust hotel markets,” adds Michael Namer, CEO of Alfa Development.

“While the renovation brings new life to this landmark hotel, we are preserving the historic elements to what we believe the hotel would have offered, providing guests with an experience grounded in a century-long New York point of view.”


HGU New York has also partnered with Gallery 151, a premier contemporary art gallery based in lower Manhattan. The curated art will showcase contemporary pieces, drawing inspiration from urban backdrops of New York City’s emerging artists and feature icons such as Fab 5 Freddy and Liz Markus, among many others.


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

SHADOW PR                                               
212-972-0277
Jamie D’Attoma


Marcus & Millichap Arranges $6.83 Million Sale of Panama City, FL Walgreens


Lori Schneider

PANAMA CITY, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Walgreens, a 14,550-square foot net-leased property located in Panama City, Fla. The asset sold for $6,630,000 equating to $455 per square foot.

“Passive private investors looking for safety of yield and little management responsibilities continue to drive sales in the drugstore sector. Because Florida has no state income tax or Rite Aid competition, well-located assets in the state are highly coveted,” says Lori Schneider, a senior vice president investments in Marcus & Millichap’s Fort Lauderdale office.

Schneider represented the seller, a limited liability company from Columbia, S.C.  The buyer was a private investor from Lexington, K.Y.

Built in 2010 on a 1.77-acre parcel, Walgreens has 20 years remaining on the absolute net lease with no landlord responsibilities and 50 one-year options. The property is located at 635 East Highway 98 at the signalized intersection of Business Highway 98 and Martin Luther King, Jr. Boulevard. It is across from Bay Medical Center, a 323-bed full-service hospital and medical center.

For a complete copy of the company’s news release, please contact:
 
Ryan Nee
Vice President / Regional Manager
 Fort Lauderdale, FL

(954) 245-3400

Berkadia Completes Sale of 208-Unit Winter Springs, FL Apartment Community


Columns at Winter Springs Apartments, 1020 Chatham Pines Circle, Winter Springs, FL


Hal Warren

ORLANDO, FL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated a $23,325,000 cash sale for Columns at Winter Springs at 1020 Chatham Pines Circle in the robust Winter Springs/Casselberry/Oviedo submarket. 

Berkadia’s Senior Directors Hal Warren and Jason Stanton, along with Managing Director Cole Whitaker, negotiated the transaction representing the Seller, Seminole-Winter Springs Associates LLC based in Atlanta.

Nashville-based Winter Springs Multifamily Partners, LLC purchased the property consisting of 208 one, two and three-bedroom apartments on a 16+ acre park-like setting with lake views. 

Columns at Winter Springs, built in 1991-1992,  was 95 percent occupied at the time of the sale. 

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

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