Thursday, November 24, 2016

HFF closes sale of 3 multi-housing properties in Georgia and Tennessee


ALARA River Oaks Apartments, Franklin, TN

Jason Nettles

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of three southeastern U.S. multi-housing properties totaling 816 units: ALARA North Point and ALARA Park Bridge in Alpharetta, Georgia, and ALARA River Oaks in Franklin, Tennessee.

HFF marketed the properties on behalf of the seller, American Realty Advisors.  The assets were sold in three separate transactions to separate buyers.  ALARA North Point sold to Greystar, ALARA Park Bridge sold to Stockbridge Capital Group and ALARA River Oaks to TH Real Estate, a division of TIAA Global Asset Management.

The three, garden-style assets, which are located in two of the Southeast’s leading submarkets, have an overall occupancy of 94 percent.  ALARA North Point comprises 264 units and is located at 900 Jameson Pass in the Atlanta suburb of Alpharetta, approximately 25 miles northeast of downtown.

 The 352-unit ALARA Park Bridge is situated 4.3 miles northeast of ALARA North Point at 15000 Parkview Lane.  ALARA River Oaks consists of 200 units situated on a 34.4-acre site at 1000 Champions Circle in Franklin, Tennessee, to the south of Nashville’s central business district.  Each of the properties offer a full amenity package featuring resort-style swimming pools, grilling areas, fitness centers, pet parks, expansive clubhouses and business centers.

The HFF investment sales team representing the seller was led by senior managing director Jason Nettles and director Megan Thompson.

“Record-setting job growth, population gains, company relocations and cultural buzz define both the Atlanta and Nashville markets,” said Nettles.  “As a result, the properties are well-positioned for long-term asset value preservation due to their strategic location in two of the country’s fastest growing metropolitan areas.”

Megan Thompson
 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 | hfflp.com


HFF closes $94.35 million sale and arranges $42.4 million financing for creative office campus anchoring Portland’s South CBD


Park Square Campus, South Central Business District, Portland, OR

Nicholas Kucha
PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $94.35 million sale and arranged $42.4 million in financing for Park Square Campus, a 295,767-square-foot, two-building creative office campus that anchors Portland’s South CBD.

HFF marketed the property on behalf of New York-based Clarion Partners, LLC, acting as an advisor to a separate account client.  A separate account client advised by CBRE Global Investors purchased the asset and was assisted by HFF in securing a fixed-rate acquisition loan through Deutsche Bank.

Originally built in 1969 and 1983, Park Square Campus’ two mid-rise towers were converted in 2015 into creative office buildings that integrate indoor and outdoor amenity space for work and play. 

Property amenities include the communal Great Room, an abundance of natural light, outdoor dining spaces with fire pits, showers, lockers and bicycle storage.  

Situated on 1.75 acres at 100 SW Market in downtown Portland, Park Square Campus boasts a Walk Score© of 94, a Bike Score© of 91 and a Transit Score© of 94.  Additionally, the 97.5-percent-leased property has been awarded an Energy Star rating of 100.

The HFF investment sales team representing the sellers was led by senior managing directors Nick Kucha and Michael Leggett.

HFF’s debt placement team was led by managing director Casey Davidson.

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 | hfflp.com



Cohen Commercial Realty Brokers Leases for Storm Team Construction and Scoot-N-Around Scooter Rentals in Jupiter, FL


Bryan S. Cohen
JUPITER, FL  — Bryan S. Cohen, Allan Carlisle, and Scott Witkowski of Cohen Commercial Realty, Inc., announced the signing of Storm Team Construction, to lease a 2,271-square-foot space and Scoot-N-Around Scooter Rentals, to lease a 607-square-foot space at Bluffs Square Shoppes located at 4050 US Highway One in Jupiter, Florida. Cohen Commercial Realty, Inc. represented the Landlord in these transactions.

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


Wednesday, November 23, 2016

HFF secures $72 million financing for Plaza at Landmark in Fairfax, VA


Plaza at Landmark, Fairfax, VA

Cary Abod
WASHINGTON, DC -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $72 million refinancing for Plaza at Landmark, a 437,299-square-foot, grocery-anchored regional power center in Fairfax, Virginia.

Working on behalf of the borrower, Landmark HHH, LLC, HFF placed the 18-year, fixed-rate loan with AIG Investments. 

Plaza at Landmark comprises two multi-tenant buildings and individual pad sites.  The 98.2-percent-leased center is home to national and regional tenants, including Shoppers, Marshalls, Ross Dress for Less, LA Fitness, Total Wine & More, Dollar Tree, Verizon, DFurniture Galleries, BB&T, Five Below, GameStop and Chipotle. 

Situated on 22.65 acres at 6244 Little River Turnpike, Plaza at Landmark is in Fairfax County on the border of Alexandria, one of the nation’s most affluent communities, and in the Alexandria/I-395 Corridor submarket, one of the strongest in the Washington, D.C. metropolitan area. 

The center is located at the intersection of Route 236 (Little River Turnpike) and Beauregard Street and 100 yards from the Interstate 395 exit ramp. 

The HFF debt placement team representing the borrower was led by managing director Cary Abod and senior managing director Dana Brome.

Dana Brome
“Landmark HHH, LLC and its affiliates are very fortunate to have a close, productive relationship with HFF, which has lasted over 25 years,” said Marshall Ruben, principal of the borrower.  

“We are extremely pleased that through the efforts of the HFF team we were able to work with the first class, professional real estate lending group at AIG and close this very beneficial long term, fixed-rate financing.

" The recently renovated Plaza at Landmark is now well positioned for outstanding long term growth and success for our tenants and the community 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

BLT Enterprises Sells Class A Industrial Building for $11.75 Million in Oxnard, CA

  
Quaker Sales & Distribution, Inc. Industrial Building, 2100 Eastman Avenue, Oxnard, CA

 
Bernard Huberman
OXNARD, CA – BLT Enterprises, a multi-faceted real estate investment company, has sold a 91,950 square-foot industrial building in Oxnard, California for $11.75 million. The building is currently 100-percent occupied by Quaker Sales & Distribution, Inc., one of the world’s leading food and beverage companies.

“We have been a long-term owner in Oxnard and throughout Ventura County for more than three decades,” explains Bernard Huberman, Founder and President of BLT Enterprises. “The sale of this property demonstrates our continued strategy to shift our focus and diversify our portfolio to high growth markets in Orange, Los Angeles and San Diego counties.”

            Huberman explains that BLT initially acquired the industrial building in 2001, and during its 15-year hold period, was able to significantly increase the value of the property.

“Our strategy has and always will be long-term holds,” says Huberman. “Throughout our ownership of this property, we were able to create a steady stream of income and drive long-term value through a series of capital improvements and strategic leasing. This resulted in strong investor interest in the current market, which allowed us to sell the property for a premium price.”

Quaker Sales & Distribution, a wholly owned subsidiary of PepsiCo., Inc. has occupied the building since 2012.  Paul Farry at CBRE represented both the buyer and the seller in the transaction. 

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

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




Tuesday, November 22, 2016

The Union Dallas Announces Fox Restaurants Concepts’ North Italia Newest Dallas, TX Location



Sam Fox
DALLAS, TX – RED Development announced that Fox Restaurants Concepts’ North Italia restaurant will open a new Dallas location at The Union Dallas in 2018.

The 5,500 square-foot modern, full service pizza and pasta Italian concept from restaurateur Sam Fox, will be on the ground level overlooking the central plaza of the office, residential and retail project that will total approximately 800,000 square feet in the Uptown area of Dallas.

Serving lunch and dinner seven days a week, the restaurant is designed to open onto Field Street and will offer indoor and outdoor seating. Known for its made-from-scratch daily pastas and pizzas, the restaurant will bring a fresh, inviting and moderately priced dining option to the area. North Italia will join another Sam Fox restaurant at this location, The Henry.

“North Italia is a sophisticated, highly successful restaurant concept from the one and only Sam Fox, which perfectly complements the polished, welcoming live-work-play urban environment we are creating at The Union,” said Mike Ebert, Managing Partner, RED Development.

Mike Ebert
“North is a real draw that will appeal not only to residents and people who work at The Union, but also to neighbors and visitors to Uptown Dallas seeking a best-in-class restaurant that marries wonderful food with a hip and inviting setting.”

“We are looking forward to opening North Italia, our love letter to Italy, at The Union in Uptown Dallas,” said Sam Fox, founder of Fox Restaurant Concepts. 

“This energy-filled location in a great part of town offers an ideal environment for us to showcase the art of handmade pizza and pasta, along with an inspired wine list and much more, in the spirit of a true Italian taverna.

“Our restaurant in Austin has been so well received, and we are eager to bring our authentic approach to modern Italian food to Uptown Dallas.”

John C. Wander
At The Union location, guests can expect to enjoy the same freshly made tasty mix of pizzas, along with a mix of chicken, seafood and steak options offered in their other nine locations in Arizona, California, Colorado, Kansas and Texas. 

Slow-cooked short ribs, New York Strip, Atlantic Salmon and Diver Scallops will be on the menu along with home-made Strozzapreti with Bloomsdale spinach, supple ribbons of tagliatelle for Bolognese and several pizza options accompanied by an extensive wine list and mouth watering desserts like Salted Caramel Budino and Olive Oil Cake.

“The vibrant mix and quality of dining options at The Union is one of the many amenities that initially attracted our firm to this location,” said Vinson & Elkins Partner John Wander.  “The walkability to a variety of restaurants is important to our more than 145 attorneys and will also offer convenient opportunities for our clients.  We are looking forward to moving to this highly-desirable workplace and location.”

Mike Wallner
Beyond the inviting ground-floor location that is within walking distance of Dallas’ premier sports, entertainment, museum and outdoor park venues, The Union’s 21,000-square-foot green space and events plaza will enhance North Italia’s exceptional culinary experience. 

The central plaza will be designed by top Texas landscape designer, Office of James Burnett, and will be surrounded by water features, seating areas, trees and a performance area so that diners may extend their experience before or after their meal with a stroll through the green space or simply sit and enjoy the ambience of the park-like setting.

Located at Field Street and Cedar Springs Road, The Union is a connection point for many of Dallas’ most vibrant business and residential districts including Downtown, Uptown, the Arts District and Victory Park neighborhoods.

 Ideally located, the signature 22-story contemporary designed blue-hued office tower and 23-story residential tower offer sweeping views of the city with unparalleled conveniences and amenities to tenants.

The Union offers 417,000 square feet of premier Class-AA rentable office space - two premier professional services firms were previously announced to be moving to The Union Dallas office tower. One of the nation’s largest law firms, Vinson & Elkins, will move its firm to the project in 2018 and will occupy approximately 82,000 square-feet on three floors of the signature office building. Weaver, the largest independent accounting firm in the Southwest, will move its Dallas office to approximately 58,000 square feet and two floors in the office tower.

The Union Dallas
Strategic project partner, StreetLights Residential, is leading the design and development for the 23-floor residential tower offering 309 luxury apartment homes and distinctive amenities. 

Designed by Dallas-based architect, HKS, Inc., and with DPR as the general contractor, the project will feature 87,000 square-feet of retail including a 60,000 square-foot Tom Thumb grocery store on the ground floor to provide convenient on-site grocery shopping.

Mike Kallner with RED Development oversees retail leasing along with CBRE/UCR’s Urban Retail and Leasing team.

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

McClain Stone
Culver Public Relations
3102 Maple Ave., Suite 235
Dallas, TX  75201
  
214.352.5980 office
214.980-3034 cell



NAI Realvest Negotiates 15-Year Ground Lease on Fowler Avenue near USF in Tampa, FL for new Dunkin Donuts.

Kimberly Manson

Jeff Tanner
TAMPA, FL  – NAI Realvest recently negotiated a 15-year ground lease agreement for a 21,422 square foot retail parcel located at 1911 E. Fowler Ave. in Tampa.

Kim Manson, director of retail and investment sales at NAI Realvest and Jeff Tanner, senior VP of investment sales and leasing, brokered the transaction on behalf of Tenant, DB Real Estate Assets, I LLC of Canton, Mass.

 Linda Snyder, Commercial Agent with RMC Ross Realty represented the Landlord, Miami-based Orion Venture VI, LLC.

The existing retail building will be demolished and the tenant will soon construct a new Dunkin Donuts on the site. 

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



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

Monday, November 21, 2016

Orlando, FL Land Brokers Maury L. Carter & Associates, Inc. Experiencing Banner Year With over 10,089± acres in land sales and $61 million in cash volume for First Nine Months


Maury L. Carter, left, and son Daryl M. Carter

ORLANDO, FL -- Maury L. Carter & Associates, Inc. announces the following recent transactions:

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller in the sale of 40± acres on Goldenrod Rd in Orlando, FL. The property was sold to Goldenrod II, LLC for $500,000. Pinecrest Real Estate Group, LLC represented the buyer in the transaction.

Clyde Wells with Maury L. Carter & Associates, Inc. represented the seller in the sale of 22.5± acres along Florida’s Turnpike and Simpson Road in Osceola County, FL. The property was sold to Paradise 225, LLC for $2,000,000. Jazmin Savloff with Blue B Properties, LLC represented the buyer in the transaction.

John Evans
Daryl M. Carter, Trustee of Carter-Lake Hart Land Trust, sold 4.29± acres on Moss Park Rd west of SR 417 in Orange County, Florida. The property was sold to Floriday Properties, Inc. for $950,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller and Fusilier Realty Group-Nona, LLC represented the buyer.

Daryl M. Carter, Trustee of Carter-Flagler Seminole Woods Land Trust, purchased 268± acres on Belle Terre Blvd. in Palm Coast, FL. The property was purchased from Florida Landmark Communities, LLC for $2,275,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. and Jeffrey R. Douglas represented the buyer. There were no other brokers involved in the transaction.

John Evans, Daryl M. Carter and Clyde Wells of Maury L. Carter & Associates, Inc. represented the seller in the sale of Stafford's Prairie Ranch, 671± acres in Levy County, FL, and represented the buyer on the adjacent 100± acres. The combined price for both properties totaled $1,200,000. There were no other brokers involved in the transaction.

Daryl M. Carter, Trustee of Carter-Marion 591 Hwy 316 Land Trust, sold 591± acres on Hwy 316 in Marion County, FL. The property was sold to Muddy Acres Land and Timber LLC for $1,400,000. Daryl M. Carter and John Evans with Maury L. Carter & Associates, Inc. represented the seller in the transaction.

Since January of 2012, Maury L. Carter & Associates, Inc. has completed over $227 million in transactions on 26,000 acres of land.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development. The firm's officers combine more than 75 years’ experience in real estate investments and brokerage.

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

Maury L. Carter & Associates, Inc.
3333 S. Orange Avenue, Suite 200
Orlando, FL 32806
407-581-6206 direct
407-422-3144 office




L5 Investments Partnership Completes $17.75 Million Acquisition of 289-Unit Apartment Community in Lenexa, KS


Kelly Weber

Lenexa, KS – A partnership between L5 Investments and BH Equities has acquired Lenexa Pointe Apartments, a 289-unit apartment community for $17.75 million. The property is situated on 20.46 acres and is located at 12000 W. 77th Terrace in Lenexa, KS, a city approximately 12 miles south of Kansas City, MO.

Built in 1972 and renovated in 1992, Lenexa Pointe is a garden-style apartment community that includes 145 one-bedroom units and 144 two-bedroom units. The on-site amenities include a swimming pool, clubhouse, and picnic areas with charcoal grills. Its location provides excellent access to Interstates 35 and 435, retail, dining, and award-winning schools.

Lenexa Pointe Apartments, 12000 West 77th Terrace
 Lenexa, KS
The partnership is planning a major renovation of the property estimated at more than $6 million and will include construction of a new leasing center, business and fitness center; landscaping enhancements; new lighting; and exterior signage.

 Improvements will also be made to the majority of unit interiors which will include the installation of new flooring, cabinets, counters, lighting, fixtures, appliances, and washers and dryers

Additionally, in a strategic move to improve Lenexa Point’s operational functions, BH Equities will manage the property through BH Management Services, its property management arm.

“L5 continues to be bullish on seeking apartment assets in strategic locations that offer a favorable upside,” said Michael Flaherty, founder and managing partner of L5 Investments, a Northern California-based multifamily investment firm.

“We are pleased to partner on another multifamily acquisition with BH Equities and believe our very comprehensive property renovation plans for Lenexa Pointe will provide residents with a quality, amenity-rich, and well-managed community.”

Michael Flaherty
“This is BH’s second venture with L5 in the greater Kansas City Metro, and part of an overall relationship that spans from Texas to the East Coast,” said Kelly Weber, director of marketing for BH Management Services.

 “Our similar philosophies of maximizing value for our residents through amenity-rich community enhancements make for an excellent partnership.”

With more than 50,000 residents, the City of Lenexa boasts one of the top school districts in the state and nation. It also has a strong business community with a number of high tech and bioscience companies located there.

The city also provides a favorable commuting environment for those driving or taking public transportation to Kansas City and surrounding areas. 

The job market throughout the greater region continues to expand as major companies such as Google Fiber, Federal Express, Wausau Supply, Procter & Gamble and H&R Block have made recently announcements to relocate operations or expand their presence in the area.

Dustin Dulin with JLL arranged the debt on behalf of the partnership.  Brandon Grisham with CBRE brokered the deal with both the buyer, and the seller, a private investor.    

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

Darcie Giacchetto
949.278.6224


Hold-Thyssen Negotiates Retail Leases totaling over 15,400 Square Feet, Including Long Term Lease with Walgreens at Pottsburg Plaza in Jacksonville, FL

  
Therese Taylor


Jacksonville, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently completed a five-year NNN lease renewal agreement with Walgreens for 13,905 rentable square feet at Pottsburg Plaza in Jacksonville at 11 University Blvd. North.


Pottsburg Plaza, Jacksonville, FL
Therese Taylor, leasing agent at Hold-Thyssen, negotiated the transaction representing Bear Stearns 04-PWR5, Pottsburg Plaza, LLC, landlord of   the property, a 35,905 square foot retail strip center at the northeast corner of University Blvd. N. and Atlantic Blvd.
                     
At the same time, Taylor represented the landlord in a one-year renewal NNN lease with Check N Go for its 1,496 square foot unit at Pottsburg Plaza.

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:

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

   

Rhodes+Brito Architects Appoints Project Coordinator in Orlando, FL


Marvin L. Weeks
ORLANDO, FL – Rhodes+Brito Architects, based in Orlando has appointed Marvin L. Weeks, AIA  project coordinator.

Ruffin Rhodes, co-founder and partner in the firm, said Weeks holds a Master of Architecture from University of South Florida School of Architecture and Community Design.  

Weeks’ 18 years of experience includes 16 years of internships and full-time work most recently working closely with corporate design managers and project managers on several HopCat craft beer bars and Seasons 52 restaurants.

In his new role at Rhodes+Brito, Weeks will provide support services for the firm’s project architects on design development, construction documents, bidding and construction administration

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

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

   

HFF arranges development deal for mixed-use residential, retail and office project in Alexandria, VA

  
Susan Carras
  
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a transaction for the development of The Gateway Alexandria, a planned 585,000-square-foot mixed-use project with luxury residences, below-grade parking, grocery-anchored retail and office space in Alexandria, Virginia.

Walter Coker
HFF worked on behalf of Abramson Properties, who worked over the past five years to assemble and entitle the project.  HFF identified Weingarten Realty Investors, who purchased the site and will lead vertical development of the exciting project.

The Gateway Alexandria will be a transformational project for the city of Alexandria.  The site is the location of the former Jefferson Hospital and its medical buildings, which is proximate to the Northern Virginia Community College and the Department of Defense at Mark Center.

 This premier mixed-use development will be situated on 5.2 acres at the corner of King and North Beauregard Streets and one half of a mile from Interstate 395.  The development will create a dynamic community with vibrant, grocery-anchored retail lining a walkable promenade. 

The site’s location is prominent in the north central section of Alexandria at the city’s boundaries with Fairfax and Arlington Counties.  A Transit-Oriented Development (TOD), The Gateway Alexandria is six miles from the Capital Beltway, five miles from downtown D.C. and four miles from both Old Town Alexandria and the Pentagon.

 In 2017, the site will be served via a new Bus Rapid Transit station in addition to the current Metrobus and DASH bus service.  Once completed in 2019, The Gateway Alexandria will be a three-building, mixed-use property featuring 352 multi-housing units, 74 of which will be affordable units; 110,000 square feet of ground-floor retail space anchored by a Harris Teeter grocery store; 87,000 square feet of office space; and below-grade parking with 820 spaces for the entire development, including 320 spaces for residential use. 

Brian Crivella
Weingarten's net investment at completion is estimated to be $160 million and will include ownership in the retail, 275 luxury residences and approximately 23,000 square feet of office space.

HFF’s team was led by Susan Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex.  Dave Millard and Peter Berk of Avison Young and Dave Dochter of Dochter Alexander provided leasing advisory services for the office and retail portions of the project.


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 | hfflp.com


HFF arranges $7 million in acquisition financing for a warehouse/distribution building in Linden, NJ

  
Michael Klein
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $7 million in acquisition financing for 1501-1525 West Blancke Street, a 115,913-square-foot warehouse/distribution building fully leased to two tenants in Linden, Union County, New Jersey. 

HFF worked on behalf of the borrower, Penwood Real Estate Investment Management, LLC, to place the five-year, fixed-rate loan with First Bank New Jersey.  Loan proceeds will be used to purchase the building and fund immediate and future capital expenditures, tenant improvements and leasing commissions.

1501-1525 West Blancke Street is a single-story building fully leased to Vantage Specialty Chemicals and HelloFresh.  The facility features 18’ to 22’ ceiling heights, 16 dock bays and two drive-in bays.

 Situated on 4.5 acres in Union County, 1501-1525 West Blancke Street is serviced by northern New Jersey’s extensive highway network, including New Jersey Route 1/9 (one mile northeast), the Garden State Parkway (1.8 miles west) and the New Jersey Turnpike (2.25 miles east).  

The property is located less than 10 miles from Newark Liberty International Airport and approximately 21 miles from New York City. 

The HFF debt placement team representing the borrower was led by managing director Michael Klein.

“First Bank quickly understood the value-add potential that the building provided and, based on Penwood’s historical track record with similar assets and the strength of the Northern New Jersey industrial market, was confident that the borrower would be able to execute its business plan,” stated Klein.

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


Voit Directs $23.6 Million Sale of Retail Entertainment Center and Commercial Office Building in Miramar Submarket of San Diego, CA

  
Miramar Landing, Miramar submarket, San Diego, CA

San Diego, CA – Voit Real Estate Services has successfully completed the $23.6 million sale of Miramar Landing, a 131,360 square-foot retail entertainment center and the Clayton Building, a 39,170 square-foot, three-story atrium office building located in the Miramar submarket of San Diego. 

Miramar Landing is located at 8990 and 8998 Miramar Road, and The Clayton Building is located at 8996 Miramar Road in San Diego, California.

Clayton Building, Miramar submarket, San Diego, CA
Brandon Keith, Randy LaChance and Ryan Bracker of Voit’s San Diego office represented both the buyer, 8990 Miramar Landing LP, and the seller, Miramar Commercial Center, LTD, in the transaction.

“This opportunity was unique in the market. It is rare for two institutional quality assets to become available on one of the most heavily trafficked thoroughfares in San Diego,” explains Brandon Keith, Senior Vice President. 

The project, which is situated on 10 acres and has over 407 feet of freeway frontage, was owned and operated by Miramar Commercial Center, LTD for 27 years, along with San Diego-based HCA, Inc., which served as general partner and asset manager for the properties.


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

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
KKea@browermillercole.com


Cushman & Wakefield Welcomes Capital Markets Team of Robert Kaplan, Chris Lentz and Mark Rutherford to Miami, FL Office


Robert Kaplan
MIAMI, FL — Cushman & Wakefield announced that a team of real estate debt and equity specialists led by Executive Managing Director Robert Kaplan has joined the firm from Ackman-Ziff.

Mr. Kaplan and his team are the newest members of Cushman & Wakefield’s growing Equity, Debt & Structured Finance group, which provides a full-spectrum financial services platform to both domestic and international clients offering unsurpassed customized advisory and integrated capital solutions for all asset classes.

Mr. Kaplan began his career in real estate law before transitioning to in-house investment sales and financing for two prominent private South Florida investors. He entered the national brokerage industry in 1998, joining HFF to lead the financing group in its Miami office. Most recently he served as the head of the Florida office of New York-based Ackman-Ziff.

“Robert’s experience in commercial real estate debt, equity and investment sales complements, and will build upon, Cushman & Wakefield’s well established full-service real estate platform,” said Noble Carpenter, President Capital Markets, Americas.

Chris Lentz
Joining Mr. Kaplan are Senior Director Chris Lentz and Analyst Mark Rutherford, with over 30 years of combined experience in corporate and commercial real estate financing and sales. Mr. Lentz joined Ackman-Ziff in 2013 after earning invaluable experience at Evercore Partners, Lazard, and Lehman Brothers. At Cushman & Wakefield, Mr. Lentz will focus on originating and executing debt and equity financing transactions.

Mr. Rutherford has teamed with Mr. Kaplan for over 13 years arranging debt and equity capital as well as orchestrating investment sales in commercial real estate. He began his career as a CPA at Price Waterhouse, later rotating through positions in private equity and corporate finance.

The addition of the Kaplan team is part of a series of hires as Cushman & Wakefield assembles an “all star” team across all product lines. Since merging with DTZ last year, Cushman & Wakefield has added multifamily expert Robert Given and his team, formerly of CBRE, to its Fort Lauderdale office; acquired Atlanta-based Multi Housing Advisors and Tampa-based Taylor & Mathis of Florida; and stunned the real estate community by adding Doug Harmon and Adam Spies to its New York office.

Mr. Kaplan’s group further expands Cushman & Wakefield’s base of expertise in sales and financing, bringing complementary experience in residential, retail, hotel, office, mixed-use and industrial properties.

Mark Rutherford
“The world has been watching as Cushman & Wakefield has strategically grown and expanded its offerings to clients,” said Kaplan. “When the opportunity presented itself to join the movement, I couldn’t resist.”

“The firm’s deep pool of professionals with local market knowledge connected through a truly global network is formidable, providing investors at all levels access to a full arsenal of top-tier services,” added Kaplan. “My team and I are thrilled to join such a world-class institution.”

“Our platform continues to grow stronger in South Florida,” said Larry Richey, Managing Principal and Florida Market Leader. “The addition of Robert and his team emphasizes our commitment to building full-service capabilities to address our clients’ needs every step of the way.”

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

David A. Meyer
Owner
Meyer Media 
+ 1 407 489 7488