KIG Brokers $86 Million Portfolio Sale in Downtown Chicago

901 West Jackson, Chicago, IL

Susan Tjarksen

 CHICAGO, IL (Nov. 8, 2016) — KIG, Chicago’s leading commercial real estate brokerage firm specializing in institutional multifamily properties throughout the Midwest, today announced it has brokered an $86 million portfolio sale of six vintage office buildings and three land sites in downtown Chicago.

Real estate investment firm R2 Companies purchased the properties, located throughout the West Loop, Greektown, River North and Printers Row, from Chicago-based Loft Development Corp., which was represented by KIG Principal and Managing Broker Susan Tjarksen.

                  

“For a transaction of this scale, it was crucial for KIG to find a buyer that was not only familiar with these neighborhoods, but also had the connections and experience necessary to maximize the value of the underlying real estate through adaptive reuse and multifamily developments,” said Tjarksen.

 “R2 was selected because of their successful track record of developing, renovating and repositioning commercial real estate assets, including numerous loft office buildings and land sites, throughout Chicago and the Midwest.”

Matt Garrison

 Built between 1883 and 1904, the properties are collectively 90.8 percent occupied, with an average of 3.9 years remaining on existing leases.

“These properties are located in some of Chicago’s hottest neighborhoods for office, retail and residential development, which made them especially attractive from an investment standpoint because we were able to expand our footprint in a single transaction,” said Matt Garrison, managing principal of R2. 

“With the help of KIG, we were able to see the potential in each asset and value that could be realized through additional investment.”

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

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

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

www.kigcre.com.

ATTOM Data Solutions Reports Distressed Home Sales Drop to Nine-Year-Low in Q3 2016

 IRVINE, CA — ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac  released its Q3 2016 U.S. Home Sales Report, which shows that distressed sales — including bank-owned (REO) sales, sales of homes actively in foreclosure, and short sales — accounted for 12.9 percent of all U.S. single family home and condo sales in Q3 2016, down from 15.0 percent in the previous quarter and down from 15.9 percent in Q3 2015 to the lowest share of distressed home sales since Q3 2007, when distressed sales accounted for 12.3 percent of all home sales.

“Distressed inventory for sale is virtually non-existent in many of the nation’s hottest housing markets, and when a distressed property is listed for sale in those markets it often sells quickly and at little or no discount,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

“The scarcity of discounted distressed inventory is chasing away cash buyers and other bargain hunters, but it’s certainly good news for home sellers, who nationwide realized the biggest home price gains since purchase in nine years.

“We are seeing the average seller home price gain since purchase start to wane in some of the highest-priced markets where appreciation is beginning to cool, indicating those markets are past their prime as sellers’ markets,” Blomquist continued.

“Meanwhile there are still a number of buyers’ markets across the country where a high level of lingering distress and relatively weak demand from owner-occupant buyers provides investors with plenty of bargain-buying opportunities.”

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

Jennifer von Pohlmann

949-502-8300 ext 139

Jennifer.vonpohlmann@attomdata.com

http://www.attomdata.com/

ATTOM Data Solutions Shows Post-recession resurgence in creative financing for low-value homes

IRVINE, CA -- Following the subprime lending collapse in late 2008, there was a void in financing for low-credit borrowers with little or no down payments. 

Loans backed by FHA stepped in to fill some of that void, with FHA purchase loans jumping from just 3.3 percent of all purchase loan originations in Q4 2006 to 27.2 percent in Q4 2008.

But FHA loans weren’t alone in their resurgence following the fallout of subprime lending. A lesser-known (although long-used) financing instrument called a contract for deed (see definition in full article; link below) gained traction in the years following the collapse of subprime lenders, particularly for low-value homes in Rust Belt cities like Detroit, Flint, Youngstown and Indianapolis.

New contract-for-deed data collected by ATTOM Data Solutions shows the trend as illustrated in the infographic below. Here’s a link to the infographic, and here’s a link to the full article on this topic.

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

Sr. Public Relations Manager jennifer.vonpohlmann@attomdata.com

City Office REIT, Feldman Equities and Tower Realty Joint Venture Acquires Park Tower in Downtown Tampa, FL

Park Tower, Downtown Tampa, FL

TAMPA, FL – A joint venture consisting of affiliates of NYSE listed City Office REIT (NYSE: CIO), Feldman Equities LLC, and Tower Realty Partners has acquired Park Tower, a 36-story, 475,000 square foot office building located in downtown Tampa.  The joint venture purchased the office building for $79.75 million.

The joint venture intends to make a substantial investment in the property to modernize the building.  The building is approximately 86% leased. Its anchor tenants include BB&T, United States Department of Justice – US Attorney’s Office, Level 3 Communications, and Lykes Insurance.

City Office REIT currently owns approximately 1.0 million square feet of office properties in the Tampa Bay market. 

“We are strong believers in the Tampa Bay market with its tremendous job and population growth and are excited to add Park Tower to our expanding portfolio,” commented Jamie Farrar, CEO of City Office REIT. 

“As with our other downtown acquisitions, this is yet another opportunity for us to do what we do best – renovating and upgrading office buildings in order to maximize their value,” commented co-owner Larry Feldman, CEO of Feldman Equities.

    Mike DiBlasi, Feldman Equities Executive Vice President for Leasing and Marketing, will lead leasing efforts.

Larry Feldman

“Located at the corner of Kennedy Blvd. and Tampa St., Park Tower sits on the most important intersection in Tampa. This is a great opportunity for a tenant looking to move into the heart of downtown,” said DiBlasi.  Park Tower offers spectacular views of Hillsborough Bay, the Hillsborough River, and the Downtown Tampa skyline.

“Downtown Tampa is undergoing a remarkable revitalization with numerous residential developments and the emergence of the Tampa Riverwalk entertainment district,” stated Feldman. “We are elated to be at the forefront of the downtown’s revitalization.”

Tower Realty Partners is a privately held, commercial real estate investment & management company based in Orlando, Florida. Founded in 1987 by principals Cliff Stein and Reid Berman, Tower Realty partners has been involved in the acquisition, leasing, and management of over 20 million square feet of real estate totaling in excess of $1.6 billion in transactions.

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

tyoungman@assetmarketingonline.com

www.towerrealtypartners.com

www.feldmanequities.com

http://www.cityofficereit.com/

Charles Nance Joins Capital Square 1031 as Managing Director

Charles Nance

RICHMOND, Va. (Nov. 7, 2016) - Capital Square 1031, LLC, a leading sponsor of replacement property for Section 1031 exchanges, announced today that Charles Nance has joined the company as managing director.

“Charles is an experienced estate planner and tax professional who will lead the sales of our 1031/Delaware Statutory Trusts in the Mid-Atlantic region,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

“His successful history, combined with the relationships he has built throughout the region over many years, is a valuable asset as Capital Square continues to grow in the region. We are thrilled to welcome him to our team.” 

Nance joins Capital Square as an estate and tax planning attorney with over three decades of experience. Prior to focusing exclusively on estate planning, Nance was in-house counsel for a securities broker-dealer, a work-out consultant, and developer of LIHTC housing. He previously served as a legislative assistant in the U.S. House of Representatives and as assistant to various Virginia elected officials. 

Louis Rogers

Nance is a member of the Virginia State Bar, Trusts & Estates Section, and formerly served on the Continuing Education Committee of the Bar Association of the City of Richmond.

 He was selected by Virginia Business Magazine as a leading tax and estate attorney in an annual survey of the state’s “Legal Elite” and authored The Consumer’s Guide to Nursing Homes and the Division of Assets in Virginia.

He earned a bachelor’s degree from the College of William and Mary and a juris doctorate degree from George Mason University.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.CapitalSquare1031.com

IDI Gazeley North America Appoints Mark Saturno CEO

Mark Saturno

ATLANTA, GA – IDI Gazeley, a portfolio company of Brookfield and a leading global investor and developer of logistics warehouses and distribution parks, announced that Mark Saturno has been appointed CEO for North America.

 In this role, Saturno will oversee IDI Gazeley’s North American operations and will be based in the company’s Core Support office in Atlanta.

“Mark is ideally suited to lead our business into the future. As we look forward to 2017, we expect to make significant new investments through development starts, building acquisitions and land. Mark’s experience and in-depth knowledge of the industry will help ensure we consistently deliver the best-in-class product our customers expect,” said Jay Cornforth, managing partner and global head of industrial for Brookfield.

Previously, Saturno was a senior principal at Molto Properties in Chicago where he oversaw Molto's entry into the development arena and expansion beyond Chicago.

Prior to joining Molto, Saturno was the Chief Operating Officer of McShane Development Company and Managing Director for AMB’s Midwest Region. 

At AMB, he ran an operating business with more than 40 million square feet of industrial assets that were vertically integrated from in-house property management to acquisitions and developments. Saturno also worked at First Industrial for more than 10 years in various positions.   

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

IDI Gazeley

Andria Detaille

404-479-1675

andria.detaille@idigazeley.com

Jackson Spalding for IDI Gazeley

Mary Claire Keane

404-214-3559

mkeane@jacksonspalding.com

HFF closes $87 million sale of 1,240-stall parking garage in downtown Seattle, WA

Pacific Place Garage Apartments, 1612  6tth Avenue, Downtown Seattle WA

Nicholas Kucha

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $87 million sale of Pacific Place Garage, a 1,240-stall subterranean parking garage adjacent to the Nordstrom national flagship store in downtown Seattle, Washington.

HFF marketed the property on behalf of the seller, the city of Seattle.  Madison Marquette purchased the asset.

The six-level Pacific Place Garage contains 440,185 square feet situated on 2.08 acres in downtown Seattle.  The garage was completed in 1998 and features valet and self-service parking in addition to six hydraulic passenger elevators. 

Located at 1612 6th Avenue, the garage is below Pacific Place Shopping Center, a five-story, 335,000-square-foot retail, restaurant and entertainment destination anchored by an 11-screen AMC Theatre.

 In addition to the adjacent flagship Nordstrom, the garage is in the heart of downtown Seattle’s retail core in an area with a Walk Score® of 99 – a Walker’s Paradise – and proximate to 14.6 million square feet of office space. 

The HFF investment sales team was led by senior managing director Nicholas Kucha.  Kinzer Partners, represented by Dugan Earl, Kris Curtis and Craig Kinzer, co-brokered the transaction.

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com

http://madisonmarquette.com.

Gelt, Inc. Acquires 228-Unit Apartment Community Near Portland, OR for $39.5 Million

Keith Wasserman

 Los Angeles, CA – Marking its first acquisition in Oregon, Gelt Inc., a Los Angeles-based real estate investment and asset management firm, has acquired Powell Valley Apartment Homes for $39.5 million. The 228-unit apartment community is located at 1500 SW Pleasant View Drive in Gresham, a suburb of Portland. The seller was Jackson Square Properties.

“Powell Valley Apartment Homes is an ideal asset to add to our expanding portfolio,” said Keith Wasserman, partner with Gelt. “We liked that this well-maintained garden-style asset is in Gresham, a strategically located Portland submarket with minimal multifamily product being developed over the past several years, and a very limited pipeline of future development.

“Subsequently, Gresham is experiencing some of the best rental apartment metrics in the nation as occupancy is hovering close to 100 percent.” 

Wasserman added: “The Portland region’s job market has grown at a strong pace in recent years. This, coupled with significant in-migration into the area has led to an increasingly high demand for apartment units.”

Built in 1999 and situated on 9.23 acres, the property includes 18 residential buildings as well as a newly renovated clubhouse building with a leasing office, 24-hour fitness center, conference room and internet café.

Other on-site amenities include a swimming pool, year-round covered spa, an outdoor playground, a dog run, and covered garages. The property includes 38 one-bedroom units, 186 two-bedroom units, and four three-bedroom units. Each unit has a full-size washer and dryer, large deck or private patio, and exterior storage closet.

Jeffrey Harris

The seller recently renovated approximately 92 unit interiors with modern upgrades. In order to tap into renter demand for high-end finishes, Gelt plans to immediately embark on adding value to the asset by renovating approximately 100 additional units with vinyl plank flooring, stainless steel appliances, new fixtures, window covering, and new cabinet faces.  

“As a private equity firm focused on the multifamily sector, the strong fundamentals in the Portland market indicate to us that the area is primed for consistent, long-term growth and subsequently will provide strong returns for Gelt and our investors,” said Jeff Harris, director of acquisitions with Gelt. “We are thrilled to have acquired our first property in the Portland region, and we are looking to continue purchasing well-located multifamily assets in this market.”

Gresham is located on the eastern edge of Portland, and is Oregon’s fourth largest city. With a population of more than 109,000 residents, it is the second largest city in the Portland/Vancouver region.  Gresham not only benefits from a key location just 15 minutes from downtown Portland, it is also home to major corporations which employ thousands of people including Subaru, Boeing, Microchip, Xerox, U.S. Bank.

Tyler Johnson, Cody Hagerman, Greg Frick and Rob Marton of HFO Investment Real Estate represented both the buyer and seller in the transaction. The financing was arranged by Brian Eisendrath and Cameron Chalfant at CBRE.

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

Darcie Giacchetto

949.278.6224

29th Street Capital Acquires Eighth Bay Area Multifamily Property in Concord, CA

Tradewinds Apartments, Concord, CA

 

Casey Davis

Concord, CA – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Tradewinds Apartments in Concord, California.

The multifamily community is in the East Bay submarket of San Francisco. Tradewinds contains one-, two- and three-bedroom units, offering floorplans and a location that appeals to both families and working professionals.

29SC purchased the asset off-market from the heirs of a family trust.  The firm plans approximately $400,000 worth of renovations, which will include new appliance packages, microwaves, lighting and hardware along with accent walls. 

Exterior improvements will include fresh paint, modern signage, pool deck upgrades and repairs to wood paneling.

“We are very excited about this acquisition,” said Casey Davis, 29th Street Capital’s Vice President of Acquisitions for California. “Tradewinds is a value-add asset in a great location with excellent schools, plentiful employment opportunities, and extremely strong submarket fundamentals for recently renovated multifamily product.”

The transaction closed on October 25. The sale price was not disclosed. The 25-unit community was built in 1971.

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

Website: www.TerriThornton.com

www.29thstreetcapital.com.

The Keyes Company Closes $25.8 Million Sale of Gables Estates Mansion, Second-Highest Price This Year for Miami-Dade Single-Family Home

110 Arvida Parkway, Gables Estates, Coral Gables, FL

Lance Ruffe

CORAL GABLES, FL – Lance Ruffe and Ray Betancourt of The Keyes Company Luxury Division listed and sold a Gables Estates mansion for $25.8 million, the second-highest price this year for a single-family home in Miami-Dade County.

According to Ruffe, the estate also has a place in movie history. One year after its construction, location scouts found the property and received permission to film “Two Much,” the 1996 romance in which stars Antonio Banderas and Melanie Griffith met and fell in love in real life.

The home at 110 Arvida Parkway had been on the market for two years with a different real estate agency before Keyes won the listing in November 2015.

“We properly conveyed the true value of the home by showing comparable waterfront sales in the Gables, Key Biscayne and other exclusive communities such as Indian Creek and Star Island,” said Ruffe.

The two-story, Mediterranean-style residence built in 1993 on almost two acres, has unobstructed bayfront views, a 200-foot dock and seawall, six bedrooms and nine-and-a-half bedrooms. Neither the buyer nor the seller were identified.

The sale’s completion, as well as the July 2016 merger with Illustrated Properties, reflects the strength of Keyes’ luxury position.

Ray Betancourt

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. Keyes and Illustrated have doubled their $1 million-plus property sales throughout South Florida.

Independently-owned and operated since its founding in 1926, Keyes stays very active in luxury residential real estate alongside its Valore Group Real Estate and Platinum Properties divisions. 

Keyes annually sells $650 million in luxury homes priced at $1 million or more. The company expects to grow its annual sales velocity in that category to more than $1 billion.

Keyes is a founding member and shareholder of Leading Real Estate Companies of the World®, a global network of more than 550 premier real estate firms encompassing 4,000 offices and more than 128,000 Sales Associates in 55 countries, and Luxury Portfolio International™, which sells more $1 million-plus properties than any other brand in the world.

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

Ashley Fierman

Account Executive, BoardroomPR

afierman@boardroompr.com

O 954-370-8999

C 954-330-1554

Bank of America Plaza | 1776 N. Pine Island Road

Suite 320 | Plantation, FL 33322.    

NAI Realvest Negotiates Nine Industrial Leases totaling more than 21,000 Rentable Square Feet – Including Eight At South Park Business Center in Orlando, FL

Tom R. Kelley II

ORLANDO, Fla. – NAI Realvest recently negotiated eight leases at South Park Business Center, 8600 Commodity Circle off of S. John Young Pwy. and W. Sandlake Rd.,  representing the Miami-based landlord South Park LLC.   

Tom R. Kelley, II, CCIM, a principal at NAI Realvest negotiated the transactions.  Seven new tenants signed leases totaling 12,235 rentable square feet at South Park including:

Bell Italy Solution Corp. and Sumig USA Corporation who both leased 2,499 square feet; Ecell Global, Inc. 2,146 square feet, Towers Construction Company 2,105 square feet, Transfirst Media, Inc. and Southern Marketing  who both leased 1,830 square feet and Woof Gang Bakery, Inc. 1,825 square feet.

  De Paula Realty USA represented Bell Italy and Armel Real Estate represented Towers Construction.      Kelley also brokered a lease renewal agreement with Florida Mobility Rentals, LLC for its unit with 2,499 square feet at South Park Business Center.

Kelley also represented, Freese Management the local landlord in a new long-term industrial lease of 4,000 square feet at 5612 Carder Rd. off of Edgewater Drive and All American Blvd. in Orlando.    The tenant is KCP Products, Inc., a worldwide supplier of ignition wire core products, represented by McNulty Group. 

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

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

Lincoln Selected to Oversee Sale of Office/Industrial Building at 4261 Communications Dr. in Norcross, GA

Chip Sipple

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has been selected to sell a 55,986-square-foot office/industrial building in a prime location at 4261 Communications Dr. in Norcross, Georgia. Chip Sipple and Jeff Henson are overseeing sales efforts for the property, which is listed at $4.47 million.

“This property is located in the highly sought-after I-85 Northeast submarket, Atlanta’s largest industrial market, and offers top-of-the line features, making it a perfect location for a corporate headquarters,” Sipple said. “With all of the property’s prime offerings and serene business park setting, we believe it will generate significant interest from potential buyers.”

4261 Communications Dr. contains 11,597 square feet of office/showroom space with an open/functional floorplan and a mixture of private offices and open work areas, as well as a 44,389-square-foot warehouse featuring 24-foot clear heights and drive-in, dock-high loading availability.

Additionally, the 4.75-acre property includes ample surface parking, an attractive landscaped environment and easy access to major roadways including I-85 and I-285.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

Faris Lee Investments Completes Record-Breaking Ground Lease Sale of Newly Developed El Pollo Loco-Occupied Property in Moreno Valley, CA

El Pollo Loco, 15135 Perris Boulevard,  Moreno Valley, CA

IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $1.62 million ground lease sale of a freestanding, 2,975-square-foot retail property in Moreno Valley, Calif.

The property includes a newly developed single-tenant restaurant building that is occupied by El Pollo Loco which has a new, 20-year lease in place. At a 3.98 percent cap rate, the sale marks the lowest cap rate ever for an El Pollo Loco-occupied asset throughout the United States, per CoStar records. 

Jeff Conover

Jeff Conover with Faris Lee Investments represented the seller and developer of the property, Redlands, Calif.-based Infinity RS, LLC. The buyer, San Francisco-based Ling Trust, was represented by Kidder Mathews.

“Faris Lee began marketing this property during development and it sold for $10,000 over the asking price while it was still under construction,” said Conover. “New, single-tenant assets with long-term leases by recognizable tenants like this property are highly sought after. Ultimately, we secured multiple offers and sold the asset for all-cash to a 1031 exchange buyer.”

Located at 15135 Perris Blvd., El Pollo Loco opened its doors in August 2016. The property is situated at the signalized intersection of Perris Blvd. and John F. Kennedy Drive which sees more than 36,000 vehicles per day.

The property is across the street from numerous national retail brands including 7-Eleven, Jack in the Box, Cardena’s Supermarket, Boost Mobile, and Little Caesar’s Pizza, and is near March Air Reserve Base which includes approximately 30,000 personnel.

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

Darcie Giacchetto

Spaulding Thompson Associates

949.278.6224

Arbor Funds $279 Million in Multifamily Transactions Across U.S.

Ronen Abergel

UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has funded 34 loans totaling $279,219,964 across Kansas, Florida, Texas and other states under Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Supplemental Loan, Fannie Mae DUS Multifamily Affordable Housing Loan, Arbor CMBS Loan and Arbor Bridge Loan programs.

Ronen Abergel, Vice President in Arbor’s New York office, originated the loans.

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

Christopher Ostrowski
AVP, Corporate Communications

Arbor Realty Trust, Inc.
333 Earle Ovington Blvd., Suite 900
Uniondale, NY 11553
T: 516-506-4255

C: 516-395-0508
F: 516-832-4973

costrowski@arbor.com

www.arbor.com

HFF secures $14.5 million refinancing for 1200 Wilshire Boulevard in Los Angeles, CA

  

1200 Wilshire Boulevard, Downtown Los Angeles, CA

 LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $14.5 million refinancing for 1200 Wilshire Boulevard, a 96,060-square-foot office building in downtown Los Angeles, California.

Working on behalf of the borrower, Sharp Capital, HFF placed the 10-year, interest only, 4.02 percent, fixed-rate loan with a national bank.  This loan replaces previous acquisition financing with a regional bank that HFF helped secure in late 2014 for the borrower.  Sharp Capital plans to hold the asset in their core portfolio and the newly-placed, full-term interest only loan will help maximize the cash flow to Sharp Capital.

Jeff Sause

1200 Wilshire Boulevard is situated on 0.78 acres in the heart of downtown Los Angeles at the intersection of Wilshire and Lucas Street, three blocks from the Harbor Freeway.  

The six-story building was renovated in 2006 and is 89 percent leased to a variety of tenants in the banking, healthcare, legal, counseling and marketing sectors. 

The HFF debt placement team representing the borrower was led by director Jeff Sause and associate Ryan Ash.

“Since acquiring the asset we have seen strong demand for space at the property and have been able to create significant value,” said David J. Shophet, a principal of Sharp Capital.  “We look forward to continuing to hold the property and operating it as a top-tier asset in the submarket.”

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

Kristen Murphy

Director, Marketing

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com

krmurphy@hfflp.com