Sunday, January 7, 2018

HFF announces $36.5 Million sale of two Class A office buildings in Durham, NC



Central Park South and West, Durham, NC

CHARLOTTE, NC –– HFF announces the $36.5 million sale of Central Park South and West, a two-building office campus totaling 223,370 square feet in Durham, North Carolina.


Ryan Clutter
The HFF team marketed the property on behalf of the seller, James Campbell Company, LLC, and procured the buyer, Lincoln Advisors, on behalf of a public pension fund client.

Central Park South and West is situated on 18.3 acres at 5001 and 5003 South Miami Boulevard in the RTP/I-40 submarket. 

 This location offers convenient access to Interstates 40 and 540, the areas two primary transportation nodes, and is just three miles from Raleigh-Durham International Airport and across from Research Triangle Park.

 Additionally, the immediate area offers an abundant retail amenity base, including The Shops at Imperial Point and Shiloh Crossing Retail Center, and two hotels directly across Central Park Drive from the assets; Hotel Indigo and Homewood Suites. 

Central Park South and West are 76 percent leased to 15 tenants, including Ashfield Healthcare, Weatherby Healthcare and Fidelity Information Systems.  The property features efficient floor plates, superior glass lines and abundant parking through surface and structured parking resulting in a parking ratio of 5.3 spaces per thousand square feet, an attractive advantage in the Raleigh-Durham market.

Scot Humphrey
 The offering also included two developable land sites totaling 3.06 acres for additional office development or parking.

The HFF investment sales team representing the seller included senior managing director Ryan Clutter, senior director Scot Humphrey and director Chris Lingerfelt.

“The sale of the Central Park assets demonstrates yet again the growing investor appeal of the Raleigh-Durham market,” commented Clutter.  “This was one of the most competitive offerings our team worked on in 2017 with a considerably deep pool of interested buyers.

 “We believe well located assets in the Carolinas and Raleigh-Durham in particular, will continue to see strong interest from institutional capital for the foreseeable future with 2018 likely to see record capital flows into the market.”

“Given the recent surge in new job announcements and corporate relocations in Raleigh-Durham – mostly from fast-growing technology companies – Central Park is poised to benefit from what we expect will be another year of very healthy demand for office space in the market,” added Humphrey.         

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

For more information on this news release, please contact:

Kristen Murphy
Director, Public Relations
T: 617-848-1572
 |  M: 617-543-4873


.

Fine Arts Shipping and Storage Provider Cadogan Tate Triples its South Florida Footprint


Judy Dolan

FORT LAUDERDALE, FL– Cadogan Tate Miami, a fine arts shipping and storage provider, has tripled its footprint in South Florida.

The company leased 31,063 square-feet of warehouse space at Plantation Technology Park, located at 1800 N.W. 66th Ave. in Plantation. Cadogan Tate’s South Florida operations were previously located in Miami.

Keith Graves
“Cadogan Tate provides storage, installation and shipping services of fine art to collectors, galleries and museums around the world from locations in England, New York City, Los Angeles, London, Paris and Cote d’Azur,” said Judy Dolan, senior vice president of Berger Commercial Realty/CORFAC International, who represented Plantation Technology Park in the deal along with brokers Keith Graves and Jonathan Thiel.

“With South Florida continuing to flourish as a global art hub, the company required a large space with convenient access to ground and air transportation.”

Owned by CoFe Fund 1 – Plantation, LLC, Plantation Technology Park is a 96,160 -square-foot flex property near major roadways including Florida’s Turnpike and I-95.

Berger Commercial Realty has leased and managed the property since 2012, when Dolan represented CoFe in the $8.85 million purchase of the buildings at 1700-1800 N.W. 66th Avenue.

Jonathan Thiel
For more information about Plantation Technology Park, call Berger Commercial Realty at 954-358-0900.

  
For more information on the CORFAC network, call 224.257.4400.

For more information on this transaction, please contact:


 954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255,

 lrobinson@piersongrant.com

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


www.corfac.com.

Saturday, January 6, 2018

Minor Hotels in Thailand Launches a New Style of River Travel with Mekong Kingdoms Luxury Cruises




Bangkok, THAILAND -- For those who seek a transcendent experience, Minor Hotels is launching a selection of river cruises replete with the colonial romance of river travel but with a modern twist and bespoke itineraries.

 Mekong Kingdoms cruises recreates and elevates the concept of river travel with their fleet of five vessels where guests can enjoy first-class services from gourmet meals to plush cabins with unique, curated experiences both aboard and ashore along the way.


Cruising along the mighty Mekong River from Thailand’s Golden Triangle to the ancient Lao capital and now UNESCO World Heritage city of Luang Prabang, conjures up images of old Indochina, of languorous days gone by, teeming with river adventure, mystical temples and stunning untouched scenery.

 Mekong Kingdoms boats offers a new way of river travel with a sense of playfulness and discovery that leaves guests with a truly unique and unforgettable travel experience.


Travellers can join Mekong Kingdoms’ flagship ‘Bohème’, a 42-metre, 13 cabin luxury barge at Luang Prabang or Chiang Khong located near Anantara Golden Triangle Elephant Camp and Resort. Decorated with intricate Indochinese-inspired artwork and fitted with sumptuously comfortable furnishings from bow to stern, ‘Bohème’ spoils with phenomenal facilities including an expansive sun deck, wine cellar, and spa.

The journey from Chiang Rai/Chiang Khong to Luang Prabang is two nights as it heads downstream. The upstream cruise takes three nights. Voyagers will be captivated by the languid river lifestyle, soaking in nature’s wonders along the Mekong River Valley, marvelling at encounters with fascinating local cultures.



Itineraries include guided jungle treks, a visit to the Pak Ou caves - with its awesome limestone karst formations, these two caves have been gifted thousands of Buddha images, left by pilgrims over the centuries. Guests can make a friend in the Hmong Village at Pak Beng or be taught traditional weaving at Ban Baw and further discover rural Laos by mountain biking in the stunning village of Ban Houy Phalam.

Even while cruising along the placid waters, guests have a range of diversions onboard. Sunrise yoga, Buddhist meditation, sunset cocktails, cooking demonstrations, jewellery making classes, fishing for giant catfish – there is a wide range of activities to while away the time. Then there’s always gazing at the lush scenery as the boat glides by.

For those desiring a more intimate private cruise, personalised to their tastes, there is ‘Gypsy’ an ultra-exclusive two-cabin cruiser perfect for one or more nights along the Mekong for up to four passengers, Mekong Kingdoms can customise almost every aspect of the itinerary and journey to suit guest’s travel needs.




For shorter day trips in complete privacy, ‘Nomad’ provides couples with an exclusive romantic getaway for sunset cruises in Luang Prabang. ‘Play’ is a floating lounge ideal of private events or family adventure; suitable for up to 15 passengers with sundeck, private room, and a sound system. ‘Monsoon’ is a scheduled touring shuttle to the Pak Ou caves with canapés, coffee, tea and soft drinks, offering a lavish option to visit the sacred site.

“Our guests are travellers who desire not just a unique travel experience, but one that enhances the ambiance of the destinations,” explains Dillip Rajakarier, CEO Minor Hotels, “Mekong Kingdoms cruises harken back to the days when the journey is savoured as much as the destination.”

Mekong Kingdoms cruises joins Minor Hotels’ existing fleet of Manohra Dining Cruises in Bangkok and Anantara Overnight Cruises that sail from Bangkok to Thailand’s ancient capital of Ayutthaya.

For more information on how to book Mekong Kingdoms please go to http://www.mekongkingdoms.com/



For more information on this news release, please contact:


Hwee Peng Yeo
Vice President
Glodow Nead Communications

San Francisco • New York • Singapore • Shanghai
Level 21, Centennial Tower, 3 Temasek Avenue • Singapore 039190
Level 15, One Corporate Avenue, 222 Hubin Road, Shanghai China, 200021
1700 Montgomery Street, Suite 203 • San Francisco, CA • 94111

US:415.394.6500 • Asia: 65.9768.6087 •  E: hweepeng@glodownead.com

The Preiss Company Acquires Two Charlotte, NC Student Housing Properties with New Joint Venture Partner

  
Donna Preiss

RALEIGH, NC and CHARLOTTE, NC Officials of The Preiss Company (TPCO), ranked within the nation’s top 10 largest, privately-held, student housing owner-operator, announced that it acquired at the close of 2017 the 520-bed 49 North complex and the 660-bed University Village at Charlotte in a new joint venture with a private investment group for an undisclosed amount. 

Preiss previously owned the properties, which serve the University of North Carolina-Charlotte, with another joint venture partner prior to the sale and will continue to operate both complexes.  The new joint venture will invest significantly in upgrades and renovations at both properties.

“All of our owners have different investment strategies, and we were able to offer an existing joint venture property to a new, different partner with separate investment criteria,” said Donna Preiss, founder and CEO, The Preiss Company. 

“This is our third consecutive joint venture with these properties which speaks to their ability to achieve investment goals for our JV partners. These are extremely well-located complexes that will benefit from capital infusion and upgrades. 

“During our decade-plus tenure as owner-operators, the properties have enjoyed great success with average occupancy above 97% percent with an average 4 percent annual rent growth.  We remain particularly bullish on the market.”

 University Village at Charlotte

Preiss built the garden apartment and townhouse complex in 2007 at 9915 University Village Blvd., 0.2 miles from campus. The highly amenitized property includes a private shuttle to campus, clubhouse with game room, state-of-the-art fitness center and cardio room, resort-style salt water swimming pool, computer center, private bedrooms and bathrooms, stainless appliances and washer and dryer in every unit.

Upgrades and improvements include replacing common area furniture in 98 units and bedroom furniture in 47 units.  Kitchens and bathrooms will be refreshed with new finishes, lighting and ceiling fans, while carpeted units will be upgraded with faux wood flooring. Common areas will receive new 55-inch smart TVs.

  The fitness center will get new cardio equipment and TVs.  The basketball court will convert to a grill area, the breezeways will be power washed and exterior lighting will be enhanced.

“The University formed a Division I football team that is part of the FBS Conference and has a recently built stadium which can be expanded as the program matures,” Preiss noted.  “The property is across the street from the intramural fields and has a great reputation in the market.  We believe these improvements will continue to attract high occupancy with excellent rental rates.”

49 North

Located at 10035 Dabney Drive, the townhome complex is 0.3 miles from campus.  Amenities include a private shuttle service to campus, saltwater swimming pool, 24-hour fitness center, free tanning, computer lab, coffee bar, sand volleyball courts, fire pit, private bedrooms and bathrooms, washer and dryers and patios.

Improvements and upgrades include adding wood flooring, replacing kitchen cabinets and installing new quartz countertops. Washers and dryers will be replaced, building exteriors will be power washed and painted, roofs will be replaced and pool and office furniture will be refreshed. 


For more information on this transaction, please contact:

PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289

or

Amy Barger, Vice President of Marketing
The Preiss Company
(919) 532-1114

www.tpco.com. 

Friday, January 5, 2018

NAI Realvest Negotiates Office Leases at Primera Court I and II in Lake Mary, FL for Acupuncturist, Logistics, Engineering and Mortgage Firms


Mary Frances West
Lake Mary, FL  – NAI Realvest recently completed four lease agreements for Class A office space totaling 6,294 rentable square feet at Primera Court I and II located at 725 and 735 Primera Blvd. in Lake Mary.   

Mary Frances West, CCIM, Vice President at NAI Realvest, brokered the transactions on behalf of the landlords, Interchange Primera Court I, LLC and Interchange Primera Court II, LLC.  

New tenants at Primera Court I include Complete Well Being Center, Inc. who leased 1,122 square feet for an acupuncture practice opening in January and Logiplan USA, LLC providing logistic services for the convention and show industry also leased 1,122 square feet.  

Wesley Chapel-based USA Engineering, Inc renewed its lease of 2,670 square feet at Primera Court I.

At Primera Court II West negotiated a lease renewal for 1,380 square feet with Tenant Carrington Mortgage Services based in Santa Ana, Calif.

For more information on this transaction, please contact:

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


NAI Realvest Negotiates $1.55 Million User Sale of Industrial Building at Monroe CommerCenter South


Michael Heidrich
SANFORD, FL --- NAI Realvest recently negotiated a $1,550,000 user sale of the 21,600 square foot industrial building located at 4275 Church St. in Monroe CommerCenter South in Sanford.

Michael Heidrich, a principal at NAI Realvest, represented the Seller RHCP COP Orlando, LLC based in Sparks, Md.   

Buyer Adrian Steel–Florida, based in West Palm Beach, is the parent company of Advanced Van and Sales, who will operate out of the building. Josh Lipoff of Jones Lang LaSalle represented the buyer.

Heidrich said the property is one of the three industrial buildings in Phase 3 of Monroe CommerCenter South.  One more investor/user building remains for sale – 4295 Church St. with 17,280 useable square feet and listed for $1,296,000.

For more information on this transaction, please contact:

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

   

Hold-Thyssen Negotiates New Five-Year Lease at Phillips Place in Southwest Orlando With National Engineering Consultants

Darby Hold
ORLANDO, Fla. --- Hold-Thyssen, a full service real estate services firm headquartered in Winter Park, recently negotiated a five-year lease for 2,091 square feet at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

Darby Holdassociate for Hold-Thyssen, Inc. negotiated the transaction representing the landlord,Financial Way Realty, Inc., based in Cincinnati, Ohio.

Deanna Meredith
The new tenant Prism Systems, Inc., provides automation and controls software engineering and systems development for Fortune 500 companies nationwideDeanna Meredith with Luxe Properties LLC represented Prism.

Hold-Thyssen, Inc., the leasing and management representative for the 56,000 square foot Phillips Place, provides commercial property brokerage 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.

Osceola County Planning Commission Elects Veronica Malolos Chair


Veronica Malolos
KISSIMMEE, FL / ORLANDO, FL -Veronica Malolos, Osceola County broker with NAI Realvest, was elected Chair of the Osceola County Planning Commission to serve a one-year term in 2018.    Malolos is most likely the County Commission’s first minority woman to hold that office.
Patrick Mahoney, president of NAI Realvest, said Malolos has served as a Planning Board Commissioner for over four years and, “is a recognized leader of both civic and human services initiatives in Osceola County.”  
Patrick Mahoney
She’s a past president of the Osceola County Assn. of Realtors and was honored by the Central Florida Commercial Assn. of Realtors for her community service, Mahoney added.
As Chair of the Osceola County Planning Commission Malolos will guide the commission in its task of ensuring that land development is consistent with the county’s comprehensive plan.   
“Osceola County is one of the fastest growing counties in the nation and with the effects of the recent devastation of Hurricane Irma we have to remain diligent in doing the good work to best serve our ever-changing community,” Malolos said.        

For more information, please contact:

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

EagleBridge Capital Arranges $5.85 Million Mortgage For CVS Ground Lease in Wayland, MA


CVS Pharmacy, Main Street, Wayland, MA

Ted M. Sidel
Boston, MA -- EagleBridge Capital has arranged acquisition and permanent mortgage financing in the amount of $5,850,000 for a long term ground lease to CVS Pharmacy on Main Street in Wayland, Massachusetts where a new CVS is currently under construction.    

The mortgage financing was arranged by EagleBridge principals Ted M. Sidel and Brian D. Sheehan who stated that the loan was provided by a leading Massachusetts thrift institution.

The new free standing CVS is under construction on a 2.1 acre site located at corner of Main Street and West Plain Street. 

The CVS shall contain 13,900 square feet and will also feature a drive thru as well as 60 parking spaces.  The site was formerly the home of Finnerty’s Restaurant which was demolished to make way for the new pharmacy.

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to structure the financing to provide a combination acquisition and permanent mortgage at a very attractive rate, term, and amortization with the first year being interest only.

Brian D. Sheehan
CVS operates over 9700 retail pharmacies across the country with over 357 located in Massachusetts and is part of CVS Health Corporation.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, apartments, office, industrial, and 
r & d buildings, hotels, condominiums, and mixed use properties as well as special purpose buildings.


For more information on this transaction, please contact:

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext. 300

Thursday, January 4, 2018

Harbert Realty Services Orlando Office Announces New Team Member Buffy Gillette


Buffy Gillette

ORLANDO, FL, Jan. 4, 2018 -- Harbert Realty Services’ Orlando office welcomes Buffy Gillette as new Director of Office Leasing and Sales.

 Buffy will focus on business development for the Central Florida office by expanding relationships in landlord & tenant representation, investment sales and corporate services. She will bring an extensive amount of strategic knowledge and creativity to the group that will enhance the client experience.

Prior to joining Harbert Realty, Buffy worked as a managing director and director of leasing, helping grow the Orlando branch for a major commercial real estate firm. Early in her career, Buffy worked for a national homebuilder, specializing in marketing, selling, developing and managing residential communities.

Josh Smith
Buffy has been a CCIM chapter board member since 2014 and serves on the Programs Committee of Commercial Real Estate Women (CREW).

Harbert Realty Services opened its Orlando, Florida office in June 2017. Josh Smith, Vice President and Managing Director, heads the Orlando office. 

His experience as a business owner and sales executive has provided him with the ideal resume to execute a Florida growth strategy for HRS.

“We are excited to have Buffy on board and believe she will be a valuable asset to our exponential growth here in Orlando,” said Smith.

“Central Florida has been a great market for Harbert throughout the years. The decision to re-invigorate our brokerage and development presence here makes sense and now is the right time to do it,” Smith stated. “We have a long history in this market and a strong platform to grow from. The goal is to quickly build the right team, grow our services and expand our reach into the state as a southeast operation.”

For more information on this transaction, please contact:

 Harbert Realty Services, LLC
Kim Varagona

205-918-8104

Biometric Security Systems Provider More Than Doubles South Florida Footprint


Maridee Bell

MIRAMAR, FL (Jan. 4, 2018) – SekureID, a leading provider of next-generation biometric security hardware, software and solutions, expanded by 6,615 sq. ft. to occupy 22,220 sq. ft. of space at the Miramar Park of Commerce, South Florida’s largest locally owned and managed business park.

SekureID originally leased 9,500 sq. ft. at the Park in 2015 when the company moved its headquarters to Miramar from Hialeah. In Miramar, the company now also operates a complete biometric security software and hardware development and distribution facility.

“SekureID has been fortunate in that our company growth has been organic,” said SekureID Director of Brand Communications Victor Chauvet. “As we developed more solutions and refined our technologies to better fit the needs of our customers in access control markets around the country, increased demand dictated the need for more employees and continued expansion.”


Lauren Pace

SekureID employs 65 individuals at the Park and intends to hire additional staff with its continued growth. “We aim to promote and employ professionals within the community, which has brought us so much success,” Chauvet said.

SekureID’s space at the Miramar Park of Commerce houses offices for sales, marketing, account management and technical support as well as industrial suites for warehousing, engineering, logistics and distribution.

“Location definitely played a major role in SekureID’s decision to lease at the Park,” said Vice President Maridee Bell of Sunbeam Properties, developer of the Miramar Park of Commerce. “SekureID needed a centralized and versatile space to accommodate both the commercial and manufacturing aspects of its business. With this third expansion, the company has benefitted from our ability to adjust to changing space requirements as well as from the Park’s accessibility to major roadways.”

Miramar Park of Commerce, Miramar, FL
In the transaction, the Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development.
  
With the objective of making biometric technology more accessible to everyday Americans, SekureID is in the process of expanding its network to include nationwide dealers and retailers of security systems.

“With lofty goals set and the right people in place, we hope to double or even triple in size by 2020. We want to become a beacon of success in South Florida’s regional business community,” Chauvet said.

For more information on this transaction, please contact:

Lexi Robinson
954-776-1999, ext. 255

HFF announces $1.467M sale of 18.34-acre development site in the Charlotte area


Sarah Godwin

Chris Norvell


CHARLOTTE, NC – Jan. 4, 2018 Holliday Fenoglio Fowler, L.P. (HFF) announces the $1.467 million sale of an 18.34-acre land parcel within The Park – Huntersville, a master-planned development in the North Charlotte-area community of Huntersville, North Carolina. 

HFF marketed the property on behalf of the seller, Bank of America, N.A., as Trustee for the Bank of America Pension Plan, and Scannell Properties purchased the asset. 

Scannell plans to develop an approximately 150,000-square-foot industrial flex building on the site.  Earlier in 2017, Scannell purchased the adjacent 21.91-acre site from the seller to develop an R&D and manufacturing facility.  This is the third land parcel that HFF has sold within The Park – Huntersville during 2017, for a total of 34.34 acres.


Ryan Clutter
The Park – Huntersville is a mixed-use development with 2.6 million square feet developed, including 1.46 million square feet of office/flex space, 949,000 square feet of industrial, 125,000 square feet of retail, 560 apartment units and an estimated 6,000 daily employees in diverse industries such as healthcare, logistics and distribution, financial services, engineering and racing. 

 Notable employers within The Park – Huntersville include Novant Health, Forbo Siegling, Joe Gibbs Racing, American Tire, General Motors Financial, Kellogg and Max Daetwyler Corporation. 

 Located immediately off the Gilead Road exit of Interstate 77, the Charlotte region’s critical north-south connector, The Park – Huntersville provides access to Uptown Charlotte, the UNC-Charlotte/University City area and executive housing in the sought-after Lake Norman area.

Justin Good
The HFF investment advisory team representing the seller consisted of senior managing directors Chris Norvell and Ryan Clutter, managing director Justin Good, senior director Hunter Barron and director Sarah Godwin.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.



KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com


American Realty Advisors Adds Shelley Santulli to Portfolio Management Team



Shelley Santulli

  
LOS ANGELES, CA, (Jan. 4, 2018) American Realty Advisors (“ARA”), an institutional fund manager with more than $8.0 billion in assets under management, is pleased to announce that Shelley Santulli has joined the firm as Executive Vice President, Portfolio Management.

In this role, Ms. Santulli adds to the team developing and executing strategy for ARA’s value added fund and will work with senior leadership on new product development and strategic business initiatives.

Ms. Santulli brings to ARA over 26 years of experience in real estate investment management with nearly 20 years on the principal side of institutional investing. 

Most recently, she was Managing Director, Head of Strategy and Business Development at Berkshire Group where she was a member of the Berkshire Group Operating Committee, led strategic planning, product development and strategic business development initiatives and had oversight of economic and market research, corporate communications and corporate administration during her tenure.

Prior to joining Berkshire Group, Ms. Santulli held senior real estate investment positions at The Congress Group, Inc., AEW Capital Management, and Fidelity Investments. 

Her institutional real estate investment experience is deep and broad covering major domestic and international markets and a variety of property sectors, investment strategies and capital structures. 

Kirk Helgeson

Ms. Santulli holds an MBA from the University of Chicago and a Bachelor of Arts degree in Economics and Political Science from Duke University. She is a council member of the Urban Land Institute and member of the Pension Real Estate Association.

Kirk Helgeson, ARA’s Chief Investment Officer, commented, “We are pleased to have Shelley join our team and bring her extensive experience to add to ARA’s existing portfolio management resources. Having Shelley in this leadership role will contribute significantly to the growth and success of our funds and to our ability to produce competitive returns for our clients."

For more information on this news release, please contact:


Miki Akil / Lexi Astfalk for American Realty Advisors
Brower, Miller & Cole
(949) 955-7940,

    www.aracapital.com.