Endeavor completes 92,000-SF lease with GSA and retains HFF to market Austin office property for sale

DALLAS, TX, Mar. 2, 2009 – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has been retained to market for sale the GSA-leased Southpark Office Center (middle right photo) in Austin, Texas.

Endeavor Real Estate Group completed a 10-year, 92,000-square-foot lease to the GSA on behalf of the Internal Revenue Service in late 2008.

HFF’s Dallas investment sales team is marketing Southpark Office Center without a formal asking price free and clear of debt.

Southpark Office Center is located on Interstate 35 just south of its intersection with Ben White Blvd (Hwy 71) and just west of Austin Bergstrom International Airport. The 122,000-square-foot property was completely redeveloped by Endeavor in 2008. The GSA lease encompasses 75% of the property with the remaining space being available for lease
.
“The IRS lease represents one of the largest leases executed in Austin in the past year and further establishes the Southpark area as a regional hub for the IRS, which now occupies approximately one million square feet in the immediate area, and during its peak season supports 2,700 employees,” said Jamil Alam (top left photo) of Endeavor Real Estate Group.

“The decision to sell the asset at this time is in keeping with our original strategy, which entailed re-developing the property and then leasing it to an investment-grade credit tenant.

"The group that ultimately acquires the Southpark will benefit from stable cash flow from the GSA lease as well as the upside associated with the attractive remaining vacancy in the property.”

Endeavor Real Estate Group owns, manages and leases four million square feet of office and industrial space in Central Texas plus more than three million square feet of retail space, with more under construction.

Contacts:

Jamil Alam, Principal, Endeavor Real Estate Group, (512) 682-5575, JAlam@ENDEAVOR-RE.com
Andrew S. Levy, HFF Senior Managing Director, (214) 265-0880. alevy@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Cousins Announces Resignation of Dan DuPree

ATLANTA, GA, Mar. 2, 2009 -- Cousins Properties Incorporated (NYSE: CUZ) announced today that Dan DuPree (top right photo) has resigned from his post as Vice Chairman of the Company.

DuPree has accepted another position in the real estate industry which will be announced shortly. The resignation will be effective beginning March 15.

Contact:

Cameron Golden, Director of Investor Relations/Corporate Communications, 404-407-1984, camerongolden@cousinsproperties.com

NPD Predicts a Tough Year for the Restaurant Industry in 2009 as Consumers Continue to Tighten Purse Strings

A new NPD report looks at how restaurants survived in 2008 and how they will need to adapt in 2009


(Top right photo by Luis Sinco, Los Angeles Times)

CHICAGO, IL, Mar. 2, 2009--(BUSINESS WIRE)--Rising unemployment, eroding consumer confidence, market volatility, and other economic concerns will take a toll on the restaurant industry in 2009, according to a new report from The NPD Group, a leading market research company.

Total restaurant industry traffic was down one percent at the end of 2008, and NPD forecasts in its new report that 2009 will be an even tougher year for restaurants.

The new report, entitled, Challenging Times…Driving Sales in 2009, takes a deep dive into what happened to the restaurant industry last year, what worked and what didn’t; and how the lessons learned from last year and previous industry downturns can help improve sales in 2009.

In addition, the report provides a sales and traffic forecast for 2009 by industry segment, and offers considerations for restaurant operators on how to survive and adapt to the challenges of 2009.

“Our industry began 2008 battling rising prices, especially for food and fuel, and slowing customer traffic counts, which resulted in extreme pressure on margins throughout the foodservice industry,” says Bonnie Riggs, restaurant industry analyst and author of the report. “By the end of the summer, the economy had taken a sharp turn for the worse as housing and financial markets sunk deeper into turmoil.”

According to NPD CREST® data, the restaurant industry started 2008 on a positive note from a traffic standpoint; however, visits to restaurants began to slow mid-year, and turned negative in three of the last four months of the year. Total restaurant industry traffic was flat for the year.

Riggs points out in the report that when consumers did visit a restaurant in 2008, they kept a tight hold on their purse strings. Trading down from full service restaurants to quick service restaurants, ordering more often from the dollar/value menu, ordering lower price menu items, and not taking kids out for a meal were among the ways in which consumers managed their restaurant checks last year.

“Now we face a much tougher marketplace, much greater uncertainty, and a very tight hold on our pocketbooks,” says Riggs. “Restaurant customers are being bombarded with great offers; they can carefully choose how and where to spend their food dollars. Much of the challenge for operators this year will be having a good understanding of what their customers want.”

For more information, contact us or visit http://www.npd.com/

CONTACT:
The NPD Group, Inc., Kim McLynn, 847-692-1781, Senior Public Relations Manager.

Orange County, FL Resort Tax Collections Down

ORLANDO, FL, Mar. 2, 2009 -- County Comptroller Martha Haynie announced today that resort tax collections received by the County in February for the hotel collection month of January 2009 were $12,760,200.

Resort taxes are charged on short-term rentals, mostly hotels and
motels.

Comptroller Haynie noted that January 2009 collections were ten percent lower than January 2008.

“We know the tourism industry is not immune from the general economic downturn, and a ten percent decline certainly shows that a lot of businesses, and their employees, are hurting.

"But we can still hope that the quality of our convention and vacation products will cushion this sector from the worst of the recession,” Haynie added.

Contact: Martha O. Haynie, (407) 836-5690

Sorenson Group Holdings Acquires $701 Million of FDIC Commercial Real Estate Loans

Structured Portfolio Consists of Loans Formerly Owned by Two Failed Banks, First National Bank of Nevada and First Heritage Bank, N.A.

Assets are Located in Arizona, Nevada, New Mexico, Texas and California.

SALT LAKE CITY, UT, Mar. 2, 2009--(BUSINESS WIRE)--Sorenson Group Holdings LLC today announced it has acquired a structured portfolio of Federal Deposit Insurance Corporation (FDIC) commercial real estate loans worth $701 million from Diversified Business Strategies of Sandy, Utah.

The deal closed Fri., Feb. 20 and includes assets in Arizona, Nevada, New Mexico, Texas and California.

“Our goal is to work out the best disposition of these assets for the FDIC, for investors and for borrowers,” said James Lee Sorenson,(top right photo) Sorenson Group Holdings founder and lead investor.

Sorenson is also CEO of The Sorenson Group, a developer of prime real estate along Utah’s Wasatch Front, including the 7,000-unit master-planned Rosecrest community. Sorenson Group Holdings will own the loan portfolio and The Sorenson Group will manage it.

The FDIC has been selling structured portfolios of residential and commercial loans from failed banks, giving portfolio investors the opportunity to make investment returns by working out resolution of the loans in ways beneficial to the borrower and lender.

Portfolio investors share a percentage of sale proceeds with the FDIC. The Sorenson Group Holdings portfolio is made up of loans from two banks closed in 2008 by the FDIC: First National Bank of Nevada, Reno, Nevada; and First Heritage Bank, N.A., of Newport Beach, California (owned by First National Bank Holding Co., Scottsdale, Arizona).

The two other Sorenson Group Holdings partners are Tim Fenton and Joe Sorenson, also directors of The Sorenson Group. Both Fenton and Joe Sorenson have extensive large-scale commercial development experience.

About Sorenson Group Holdings

Sorenson Group Holdings LLC is an investment fund founded by James Lee Sorenson to invest in real estate and distressed loan portfolios, which are then managed by The Sorenson Group.

Acquisitions may include failed bank loans from the FDIC, bank loan assets and other real estate investments. Sorenson Group Holdings seeks targeted returns for investors through opportunistic acquisitions that leverage the extensive real estate development and management experience of the principals.

Contacts:

Sorenson Group Holdings, Media, David Parkinson, 801 490 1015, david@sorensoncompanies

Investor Relations, Mark Staples, 801-461-9738, mark@thesorensongroup.com

Most Lenders Still Playing Defensive Role, RECI Reports

CHICAGO, IL, Mar. 2, 2009 --As the first quarter winds down, the real estate capital markets are filled with caution and anxiety as lenders crave for market stability, according to The Real Estate Capital Institute.

Randal Dawson, (top right photo) a member of the Real Estate Capital Institute Advisory Board declares, "2009 looks to be a year of refinancing and with limited acquisition activity."

Dawson suggests, "Distressed deals will be the norm for most new acquisitions and investors will be overwhelmed with renegotiating overleveraged debt."

RECI finds realty capital markets remain challenged with the following issues in the forefront of discussion:

* Valuation Concerns: Many investors believe that cap rates will return to higher single-digits -- in norm with historical levels. Institutional-grade assets are valued starting at 7% for multifamily properties and 8% for commercial properties.

Furthermore, lenders require substantial supporting data (recent comps) to justify lower cap rates. Secondary markets and older properties pricings start at 100 basis points or more with much wider variance.

* Capital Availability/Allocation: Most financial institutions are playing a defensive role, rather than pursuing aggressive growth and funding strategies. Shoring-up balance sheets and shedding unwanted loans and other realty assets remain key priorities.

Select sources state that they would like to return to the market by the second quarter and mid-year. Lenders are allocating substantial portions of funds for refinance and rollover, rather than new loan origination.

* Relative-Value Pricing: Attractively priced CMBS debt (Triple-Aquality) offers the best investment opportunities for investors preferringto capture the most favorable yields, rather than new origination funds .

Such yields are in the lower-double-digit range. As such, mortgage ratesare still favorably priced for borrowers -- within the range of 6.5% to 8.5% for conventional properties based on 10-year terms.

* Delinquencies: For the most part, loan delinquencies and defaults are at controllable levels. Retail properties pose the most challenges, as numerous merchants are in either bankruptcy or requesting substantial rent discounts. Co-tenancy issues also raising concerns for further occupancy reductions.

* Tighter Funding Standards: Most lenders are strictly enforcing shorter amortization schedules and wider debt coverage ratios (e.g., 1.25X and 25-year maximum) to restrict proceeds, rather than relying on loan-to-valuesrestrictions as a primary underwriting variable.

That said, 55% to 65% is the norm for most institutional-quality, non-multifamily loans. REITs, pension funds and private equity capital players requiring less leverage enjoy excellent rates and terms. Leverage-oriented investors are forced to stay with bank lines, hoping for more favorable funding conditions.

* Maturity Risk: Agencies and many life companies favor longer-term loans in excess of five years as refinance rollover risks are of concern.

Meanwhile, banks mitigate such risks by relying upon recourse and substantial funding deposits, often in excess of 10% of the loan amount.

* Large Loan Vacuum: $50 million + loan funding sources are limited to about a half dozen major life companies. Otherwise, lenders must syndicate such loans. Loans under $10 million still offer numerous options including banks, life companies and private capital.

* "Floor" Rates Prevail: While lenders are still quoting fixed-rate loans based on treasury spreads, most loans feature floor-rate minimums.Naturally, floating-rate loans are still quoted floating over Libor, Prime,etc - floors are also imposed on such funding structures .

Contact: Nat Zvislo, Research Director, Toll Free 800-994-RECI (7324) director@reci.com

http://www.reci.com/

CB Richard Ellis Group Ranked Tops in Investment Sales

TAMPA, FL– CB Richard Ellis Group, Inc (CBRE) was the No. 1 firm in U.S. investment sales activity on a national basis in 2008, with a 17.9% market share—according to Real Capital Analytics' 2008 data.

RCA, which tracks national commercial real estate sales of $5 million and greater, found that CBRE, with $25.3* billion in transaction values, had a commanding 10.3 percentage point advantage over the second place firm and sold more property than the number two and three firms combined.

CB Richard Ellis was the leader in office, retail, industrial and multi-family properties. RCA estimates that over $141 billion** of office, industrial, retail, multi-family and hotel properties were sold in the U.S. in 2008.

"During challenging times clients seek out the platform and the professionals that delivers superior market insight and unrivaled transaction execution," said Gregory S. Vorwaller, (top right photo) CBRE Investment Properties President. "2008's results underscore that CBRE is the trusted advisor of choice across all categories of commercial real estate investing."

Other significant findings include:

• CBRE was the nation's top firm in office sales in 2008 with a market share of 21.9% representing $11.5 billion of transactions.
• CB Richard Ellis' market share in multi-housing sales was an industry leading 18.3% in 2008. The firm's $6.8 billion in sales was double that of it nearest competitor.
• In industrial sales, CBRE dominated with $ 4.5 billion in sales, for a market share of 21.4%/--three times the nearest competitor.
• CB Richard Ellis recorded the highest market share—9.7%—in the retail sector, totaling $1.9 billion in transactions in 2008.

* Does not include CBRE's individual property sales valued at less than $5 million.** Excludes privatization activity.

CONTACTS:

Robert McGrath, 212.984.8267, robert.mcgrath@cbre.com

Ray Sandelli, 813.273.8450, ray.sandelli@cbre.com

WELBRO celebrating 30 years of "Service Excellence" in Central Florida

ORLANDO, FL-- What started back in 1979 as a small construction company, is today one of the largest privately-held commercial general contractors in Central Florida.

WELBRO takes pride in the fact that in those earlier years we brought a new philosophy to the construction industry -- one of partnership and doing away with adversarial relationships.

Ours is a proud history, with a firm foundation based on the values established by WELBRO founders Gary Brown and Butch VonWeller.

WELBRO has realized the vision of Gary and Butch, receiving many accolades for the company’s performance in the commercial construction industry.

Thirty years later, now under the leadership of Steve Davis, (top right photo) CEO, Bruce Holmes,(bottom left photo) President/COO and a team of company executives WELBRO is committed to carrying our proud tradition into the future with a continuing emphasis on the WELBRO values and with utmost care and concern for our clients and our associates.

According to Davis, "…throughout 2009 WELBRO Building Corporation will celebrate its accomplishments and continue its quality service based on the core values that have made the company successful."

Says Davis, "…these values have played an important role in the history of the company, with tangible proof of superior client service, that in an industry plagued with litigation, and with over one billion dollars of construction in place, WELBRO has never litigated with a client."

Another testament to WELBRO’s success is management’s commitment to its workforce. A company based on family values WELBRO attributes its success to the dedication and hard work of its 300 associates. WELBRO will thank their workforce and their clients in 2009 and look forward to another 30 years of success in the community.

CONTACT: Patricia A. Werner, 407/475-0800; mobile: 407/766-3951 pwerner@welbro.com

Marcus & Millichap Brokers Ranked High Nationally

FRIEDMAN AND HARRIS TOPS IN ENCINO OFFICE

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2008.

Two agents in Marcus & Millichap’s Encino office ranked in the Top 30 out of more than 1,300 investment specialists nationwide. The agents are Gregory Harris (3)(top left photo) and Matthew Friedman (16). (top right photo).

“We are proud to recognize Greg Harris and Matthew Friedman as top-ranking investment specialists,” says Harvey E. Green, A(bottom right photo) president and chief executive officer of Marcus & Millichap.

“Their accomplishments and track records reflect their superior transaction expertise and commitment to client service.”

Harris, an executive vice president of investments based in Encino, facilitated transactions valued at more than $275 million last year. Harris joined Marcus & Millichap in August 1994 and was promoted to executive vice president of investments in early 2008.

He also serves as a senior director of the firm’s National Multi Housing Group. His transactions last year included a $27 million multi-family community in Torrance, Calif., and several apartment communities in Tulsa, Okla., including one valued at $18.3 million and another valued at $15 million.

Friedman, a vice president of investments and a senior director of the firm’s National Multi Housing Group in Encino, has facilitated transactions valued at more than $859 million throughout his career.

Friedman joined the firm in 2002 and was promoted to vice president of investments in 2008. His transactions last year included $24.79 million and $15.48 million apartment communities in Toledo, Ohio, and a 12-property multi-family portfolio located in Northeast Ohio

MANSOUR AND VOLEN IN SAN DIEGO OFFICE RANKED AMONG COMPANY’S TOP 30 NATIONWIDE

Alvin Mansour is also the firm’s top multi-tenant investment associate.

Two agents in Marcus & Millichap’s San Diego office ranked in the Top 30 out of more than 1,300 investment specialists nationwide. The agents are Alvin Mansour (5) (top right photo) and Joshua Volen (22).(middle left photo)

“We are proud to recognize Alvin Mansour and Joshua Volen as top-ranking investment specialists,” says Harvey E. Green, president and chief executive officer of Marcus & Millichap.

Mansour, a first vice president investments and a senior director of the firm’s National Retail Group in San Diego, is also the firm’s top multi-tenant investment specialist. Last year, he arranged transactions valued at nearly $170 million.

Mansour joined Marcus & Millichap in September 2003 and was promoted to first vice president investments in October 2008. His notable transactions last year included a $23.8 million hospitality property in San Diego; a $19.3 million regional shopping center in Goldsboro, N.C.; and a $10 million neighborhood shopping center in Denton, Texas.

Volen, an associate vice president investments and a director of Marcus & Millichap’s National Office and Industrial Properties Group in San Diego, facilitated transactions valued at more than $118.36 million last year.

Volen joined the company in November 2004 and was promoted to associate vice president investments in July 2008. His notable transactions last year included a $22.3 million net-leased property in Timonium, Md.; a $15.85 single-tenant office building in Huntsville, Ala; and a $12.4 million industrial warehouse in San Diego.

JONES AND TRAMMELL NAMED TOP GUNS IN PALO ALTO OFFICE

Two agents in Marcus & Millichap’s Palo Alto office ranked in the Top 30 out of more than 1,300 investment specialists nationwide.

The agents are Stanford Jones (6 (middle left photo) and Kirk Trammell (14). (middle right photo)

Jones, an executive vice president investments and a senior director of the firm’s National Multi Housing Group in Palo Alto, facilitated transactions valued at greater than $594 million last year.

Jones joined Marcus & Millichap in March 1980 and was promoted to executive vice president investments in January 2008. His notable transactions last year included the sale of a $115 million multi-family community in San Francisco; a $91.25 million apartment community in San Jose, Calif.; and a $56 multi-family community in Reno, Nev.

Trammell, a senior vice president investments and a director of Marcus & Millichap’s National Retail Group in Palo Alto, facilitated transactions valued at $134.25 million last year.

Trammell joined Marcus & Millichap in June 1989 and was promoted to senior vice president investments in July 2008. His notable transactions last year included a $24.25 million shopping strip in Woodland, Calif.; a $20.37 single-tenant office in Reno, Nev.; and a $9.85 million shopping strip in Salinas, Calif.

DOUGLAS HIMAN JOINS MARCUS & MILLICHAP
AS ASSOCIATE VICE PRESIDENT INVESTMENTS

OAKLAND, CA – Marcus & Millichap, the nation’s largest real estate investment services firm, has hired Douglas Himan (bottom right photo) as an associate vice president investments in the Oakland office, according to Jerome C. Smith, regional manager of the office. Himan joins the firm from NAI BT Commercial.

As an associate vice president investments, Himan will focus on brokering the sale of multi-family properties on behalf of private and institutional investors.

“Doug is an experienced investment specialist with in-depth knowledge of the East Bay multi-family market,” explains Smith. “He will be a great asset to the Oakland office.”

Himan left Marcus & Millichap in October 2004 to pursue a career as a condo owner and operator, specializing in conversion opportunities in Concord and Oakland.

Himan has been in the commercial real estate industry since 1999. Before joining NAI BT Commercial, he was a multi-family investment specialist in Marcus & Millichap’s Palo Alto office.

In late 2008, Himan decided to return to the firm.

“Marcus & Millichap’s platform offers investors unparalleled access to a nationwide pool of buyers, investment capital and inventory,” Himan notes. “As a multi-family broker focusing on apartment sales in the East Bay, it is vital to have access to existing apartment inventory, and access to the largest investment brokerage community in the Bay Area and nationwide.”

Press Contact: Stacey Corso Communications Department (925) 953-1716

Orlando’s oldest landscape architectural firm turns 40

ORLANDO, FL— The City of Orlando’s oldest landscape architectural firm, Foster Conant & Associates, is celebrating 40 years in business this month.

Since its founding in 1969 by the late Bert T. Foster (middle left photo), the Firm has provided site-specific landscape architectural design services for more than 5,000 projects.

Richard R. Conant, (top right photo) FASLA joined Foster in 1973 and has led the practice since 1987.

With the Firm’s primary focus on resort, hospitality and entertainment projects, Orlando has provided the practice with unprecedented challenges to meet the thematic and visual needs of tourist venues, notes Conant.

Similarly, Florida’s dynamic growth has provided Foster Conant with opportunities to design high quality urban, residential, educational, aviation, commercial and retail projects.

Completed projects include Orlando International Airport,(bottom right photo) Valencia Community College, MetroWest, Isleworth, (bottom right photo) U.S. 192 Streetscape, Orlando City Hall, Diocese of Orlando, Disney Village Marketplace, Lockheed Martin Information Systems, First Presbyterian Church Orlando, First Baptist Church Orlando, Royal Pacific Resort at Universal Orlando, Discovery Cove and Aquatica at Sea World Orlando.

Most recently, Foster Conant designed mixed-use projects in Brazil and entertainment venues in United Arab Emirates.

“Technology and the Internet have opened international markets to us,” said Conant. “The speed, accuracy and ability to study projects through computer-aided design programs have opened up new design avenues for us as well.”

According to Conant, other changes in the practice of landscape architecture in the past four decades include specialization within the profession as well as new and improved hardscape amenities used in design.

“Computers allow us to design complex and intricate shapes very quickly that would have taken many hours to create years ago,” said Conant.

Foster Conant & Associates was named Professional Firm of the Year by the Florida Chapter of the American Society of Landscape Architects in 2001, and has been recognized continuously for its designs in state and national award competitions throughout its storied history.

The 12-person firm is managed by Richard R. Conant, FASLA, president, Keith Oropeza, ASLA, director of design, René A. Ramos, RLA, director of production, and John P. Sullivan, III, ASLA, director of human resources.

Please visit http://www.fosterconant.com/ for additional information.

. Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

Two Palmer Electric Co. employees named to leadership positions in Academy of Construction Technologies

WINTER PARK, FL – Palmer Electric Company is pleased to announce its vice president of commercial production, Robert K. Vaughn, (top right photo) has been elected treasurer of Academy of Construction Technologies (ACT), and commercial project manager, Dan DeMorse, (top left photo) has been elected to the association’s board of directors as a member-at-large.

ACT, founded in 1992, is a partnership of the Central Florida construction industry contractors and trade associations representing both union and non-union entities. ACT works closely with Orange, Osceola, and Seminole county school districts to promote construction as a career and provides students with the opportunity to develop lifelong skills.

Palmer Electric Company is a provider of electrical contracting for commercial institutional and residential customers.

Additionally, the Company provides service and repairs to utilities, businesses and consumers. Founded in 1951, the Company is headquartered in Winter Park, Fla., and has residential division offices in Lakeland and Jacksonville, Fla. The Company employs a staff of 350.

For additional information, visit http://www.palmer-electric.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, elainei@pr-works.com, www.pr-works.com

Fisher Property Group Names Peter Willis Senior Vice President of Hotel Acquisitions & Business Development

PALM BEACH, FL—Fisher Property Group, a privately held real estate holding company, announces that Peter Willis (top right photo) has joined the company as senior vice president to spearhead hotel acquisitions and business development.

In his new role, he will be responsible for sourcing, negotiating and structuring transactions for hotel assets and management contracts.

Immediately prior to joining Fisher Property Group, Willis was senior vice president at The Kor Group, where he played a lead role in sourcing, negotiating and underwriting hotel investments and management contract prospects in addition to supporting strategic acquisitions and corporate planning efforts.

“Peter brings extensive hotel investment expertise to our executive team,” said Jeffrey H. Fisher,(top left photo) Fisher Property Group’s CEO.

“He played an instrumental role as our vice president of acquisitions at Innkeepers USA Trust prior to its sale in July 2007.

"Fisher Property Group will leverage his 20 years of experience in the lodging industry, in acquisitions, repositioning and dispositions, as we seek ways to take advantage of the opportunities available in the current and anticipated economic climate.

“We believe the opportunity for hotel acquisitions will increase substantially over the next 18 months, and we intend to be a major investor,” Fisher added.

“Our immediate focus will center on securing a Programmatic Joint Venture partner for the investment platform to be well-positioned to execute our growth plan.

"Our acquisition strategy is to identify assets opportunistically where we can add substantial value through repositioning, rebranding and/or changing management.

"We have retained Flint Creek Partners, a well regarded investment banking, venture capital and financial advisory services firm to lead our efforts in securing the financing platform.”

Additional information about the company may be found at http://www.fisherpropertygroup.com/.

Contacts: Jerry Daly or Carol McCune, Daly Gray (703) 435-6293, jerry@dalygray.com or carol@dalygray.com

NAIOP Names CBRE's David Murphy Broker of the Year for Six Straight Years

' ORLANDO, FL--David Murphy, (top right photo) Senior Vice President with the Orlando office of CB Richard Ellis, has been named Industrial Broker of the Year 2008 by the Central Florida Chapter of the National Association of Office and Industrial Properties (NAIOP).

This award recognized the top producing industrial broker in the Central Florida region, and was presented at the Ports of Call special events complex at Sea World in front of an audience of over 300 commercial real estate practitioners.

This achievement is even more remarkable since it is Murphy's sixth straight NAIOP Industrial Broker of the Year Award and seventh NAIOP Award over the previous 10 years.

No other commercial broker in Central Florida history has come close to the six year run Murphy has had as the region's top industrial broker.

Flexibility in operating his business model allows Murphy to be successful during boom times such as 2005 through 2007, as well as the challenging market environment we are currently experiencing.

Murphy was the top producing CBRE industrial broker for the state of Florida and typically one of the top industrial performers for the company nationally.

Contact: Angelique Greven 407.839.3158 angelique.greven@cbre.com

Andy Peters Named General Manager of The Wynfrey Hotel in Birmingham, AL

BIRMINGHAM, AL—Officials of Davidson Hotel Company (DHC), one of the nation’s largest hotel management companies, announces that Andy Peters has been named general manager of the 329-room Wynfrey Hotel (top right photo) in Birmingham, Ala.

In his new role, he is responsible for the day-to-day operations of the hotel.

“Now more than ever, hotels require leaders with the skills and experience to motivate staff and provide guests with top quality services,” said Patrick Lupsha, (bottom left photo) Davidson’s chief operating officer.

“Andy is a 34-year veteran in the hospitality industry and has been a Davidson regional vice president for the past six years. He has first-hand experience in navigating through difficult economic conditions and is the right person to guide The Wynfrey Hotel during the challenging times we are experiencing.”


Earlier in his career, Peters held a variety of F&B positions, including director of food standards at Marriott Headquarters.


Since joining Davidson in 1995, he has served as director of
food and beverage, regional vice president of operations and general manager of the Hilton Eugene & Conference Center in Oregon.



Peters has a degree in Food Service Administration from the State University of New York College at Buffalo.

Contacts:


Cyndi Norwood (media), Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com


Jerry Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Hunter Realty Associates, Inc., Brokers Comfort Inn for Supertel

ATLANTA/Washington, D.C./GETTYSBURG, PA—Hunter Realty Associates, Inc., a leading national hotel investment services firm, represented Supertel Hospitality, Inc. (NASDAQ: SPPR) in the $4.7 million sale of the 80-room Comfort Inn (top right photo) in Gettysburg, Pa., to Zrii LLC.

The hotel is scheduled to complete a refurbishment that will refresh the property to the latest brand standards.

“Supertel achieved a good return on its investment, and Zrii LLC, a quality owner/operator, expects to achieve economies of scale to provide upside potential for their investment. This created a win-win situation for both the buyer and seller,” said Kyle Stevenson, (top left photo) managing director of Hunter Realty.

“Gettysburg is an above-average market with multiple demand generators. We marketed the property discreetly, which avoided any property-level disruptions.

Located at 871 York Road, in Gettysburg, Pa., the Comfort Inn is one mile from the historic downtown area and minutes from the Gettysburg National Military Park and Gettysburg College.

In addition, the hotel is near Gettysburg Battle Theater, the Eisenhower National Historic Site, and Boyds Bear Country, known as the “World’s Most Humongous Teddy Bear Store.”

The hotel features an indoor pool, free continental breakfast, a business center and is pet-friendly.

“While financing is difficult in today’s economy, we worked closely with Zrii LLC to help facilitate the financing, which was accomplished through a SBA 504 loan,” Stevenson noted.

“Transactions under $10 million involving experienced owners are still attractive to lenders.

We closed the transaction in about 75 days from contract signing. This will definitely be the year of the smaller transaction, as the rest of the market sorts itself out.”

Contact: Melanie Boyer, media, (703) 435-6293, melanie@dalygray.com