Grubb & Ellis Commercial Florida negotiates 8-Year office lease for The Florida Bar in Tampa Airport Marriott Hotel

TAMPA – Grubb & EllisCommercial Florida, associated with 130 offices worldwide, recently negotiated an eight-year office lease of 8,746 square feet in the Tampa Airport Marriott Hotel (top left photo) at 4200 George Bean Parkway.

Mia Jarrell, (bottom right photo) managing director of Grubb & Ellis Commercial Florida in Tampa, and Anne Deason-Spencer, vice president of the firm’s office group, negotiated the transaction representing The Florida Bar. The landlord is Tampa-based Marriott Hotel Services, Inc.

The Florida Bar is an official agency of the Florida Supreme Court charged with administering a statewide disciplinary system to enforce Supreme Court rules of professional conduct for the 88,000 plus lawyers admitted to practice law in Florida.

It is dedicated to promoting professionalism among its members and to advocating for access to affordable legal services and to the courts for all Floridians.

Contact:  Larry Vershel or Beth Payan at http://www.lvershel.com/

Fountainhead Business Park II Becomes First Existing San Antonio Office Building to Earn LEED Silver Certification

SAN ANTONIO, TX (July 1, 2010) – Grubb & Ellis Realty Investors LLC today announced that Fountainhead Business Park II (top left photo) , a three-story office building, has earned LEED® Silver (Leadership in Energy and Environmental Design®) by the U.S. Green Building Council®, the nation’s foremost authority on environmentally responsible building practices.

The designation makes Fountainhead Business Park II the first existing office building in San Antonio to earn LEED Silver certification.

Located at 4545 Horizon Hill Road, Fountainhead Business Park II is part of a two-building Class A office campus managed by Grubb & Ellis Realty Investors. Fountainhead Business Park I & II offers 171,000 square feet of rentable area.

“Genzyme Corporation and Grubb & Ellis are both committed to environmental and corporate responsibility,” said Daniel O’Hare, vice president of Asset Management with Grubb & Ellis Realty Investors.

“As such, we worked in close partnership to implement environmentally friendly policies at Fountainhead Business Park II that promote sustainability and reduce our impact on the environment.”

The office complex totals 12.4 acres of land and includes 1,100 parking spaces for tenant and visitor access. Situated within close proximity to Interstate 10 and Loop 410 Intersection, Fountainhead Business Park II is 100 percent occupied by Genzyme Corporation, one of the world’s foremost biotechnology corporations.

The onsite property management team was led by the property manager Cindy James, RPA, and included John Cauley, CBE-J, building engineer; Daphne Shepard, assistant property manager; and Daryn Mieure, assistant vice president and senior portfolio manager.

Ampajen Solutions, which provides LEED consulting and training for existing buildings, and Testing Specialities acted in conjunction with Grubb & Ellis to manage the LEED process. Jennipher Dwyer and Ron Tefteller, onsite Genzyme staff in San Antonio, were instrumental in making this project successful.

“The achievement of LEED certification at The Fountainhead Business Park II adds to our worldwide efforts to incorporate sustainable building practices into our operations,” said Ron Tefteller, (middle right photo)  Genzyme’s vice president of operations for San Antonio.

Genzyme has previously earned LEED Platinum at its world headquarters building in Cambridge, Mass., earning the distinction of not only being one of the very few buildings to earn LEED Platinum, but also being one of the largest buildings.

“Developing the goals and objectives to satisfy the needs of Genzyme and its employees was a team effort. It was this effort that allowed us to achieve LEED certification in a timely and efficient manner,” said Jeff Allen owner of Kill Kare Inc., which provides additional asset management services for the property.

“We are very pleased that Fountainhead Business Park II has achieved both the Energy Star rating as well as being the first existing office building in San Antonio to achieve LEED certification. Additionally, we feel the reduced operational costs and positive global impact will have a compounding effect on the present and in the future. “

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

Grubb & Ellis Named Leasing Agent of 615,000 SF  of Office Space in Dallas

DALLAS, TX  (July 1, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Trae Anderson, senior vice president, Agency Leasing, has been selected to lease Brookriver Center, middle left photo)  Regions Tower and 1165 Empire Center.

Located in the Stemmons submarket, the three properties offer a total of approximately 615,000 square feet of office space.

“Brookriver, Regions Tower and 1165 Empire Center are high quality assets that provide the ability for tenants of all sizes to occupy space near the intersection of three of the best known thoroughfares in Dallas and I am thrilled to represent their owners in leasing them,” said Anderson.

He received the listings through a long-standing relationship held with each of the property owners.

Located at 8150-8200 Brookriver Drive, Brookriver Center consists of two seven-story towers that share a first floor concourse and full second floor. Owned by Professors Capital, the property offers 311,689 square feet of space and is currently 33 percent leased. Space availability ranges in size from 500 to 200,000 square feet. The property provides the opportunity for building signage that is visible from Interstate 35.

Regions Tower is a 15-story, 267,352-square-foot office building owned by Diversified Capital. Located at 1111 W. Mockingbird Lane, the property is currently 55 percent leased and has space available for lease ranging in size from 749 to 85,550 square feet. The property boasts onsite management, secure covered parking, a restaurant and a Starbucks.

Owned by Interra-Sky Empire Central LLC, 1165 Empire Central is a two-story, 36,795-square-foot office building. The property is currently 50 percent leased and has space available ranging in size from 500 to 18,500 square feet.

For more information, contact Anderson at 972.450.3300 or trae.anderson@grubb-ellis.com

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

Cousins Properties Announces Retirement of Jim Fleming

 ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced today that James A. Fleming (top right photo), the Company’s Executive Vice President and Chief Financial Officer, will retire on December 31, 2010.

Mr. Fleming has been with Cousins since 2001. Prior to becoming EVP and CFO in May 2004, he served as Senior Vice President and General Counsel. He has agreed to serve as a consultant to the Company after January 1, 2011, to help facilitate a smooth transition to his successor.

Larry Gellerstedt, (lower left photo)  Cousins President and Chief Executive Officer, noted, “Jim will certainly be missed, but we respect his desire to retire at year end and pursue other opportunities.

" He has played a meaningful role in strengthening Cousins’ financial position, particularly in leading us through the past year’s capital markets transactions. We thank Jim for his contributions and leadership over the past decade and his willingness to stay on and effect the eventual transition.”

Mr. Fleming added, “I have had a terrific experience at Cousins, but after 10 years I’m looking forward to exploring some new opportunities. I’m confident that under Larry’s leadership, and with his talented team, the Company is well positioned for success in the years ahead.”

The Company will immediately begin a search for a successor CFO and has retained an executive search firm to assist in that effort.

Contact: Cameron Golden, 404-407-1984, CameronGolden@cousinsproperties.com, http://www.cousinsproperties.com/

Crossman & Co. Negotiates New Long term Lease Agreement for Restaurant Facility at Belle Isle Commons on S. Conway in Orlando

ORLANDO, FL - Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, recently negotiated a new five-year lease agreement for 1,600 square feet of retail/restaurant space at 5174 S. Conway Rd. just south of CR 528 in Orlando.

John Crossman, president of Crossman & Company, said associate Katherine Rush (top right photo) negotiated the lease agreement with Restaurant Realty LLC the new tenant, who plans to open a Quiznos Subs at Belle Isle Commons retail center.

Rush negotiated the agreement on behalf of the Landlord Belle Isle Commons, LLC.

For more information, please  contact:
Katherine Rush, Associate, , 407-581-6232; krush@crossmanco.com;
Molly Delahunty, Crossman & Company, 407-481-6220 mdelahunty@crossmanco.com;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com


Senior Associate Negotiates Seven New Retail Leases at Publix Shopping centers, more than 61,000 SF in less than 60 days

ORLANDO - Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, recently negotiated seven new lease agreements at for a total of 61,450 square feet of retail space in less than 60 days.

John Crossman, president of Crossman & Company, said senior associate Justin Greider (lower right photo) negotiated all seven transactions on behalf of the landlord at Publix anchored centers in Orange, Seminole, Polk and Collier counties. All of the centers are part of the 10.4 million square foot Publix-owned shopping center portfolio handled by Crossman & Company.

At Imperial Lakes Plaza, 2040 Shepherd Rd. in Mulberry, Polk County, Joshua’s Diner leased 3,200 square feet and Dollar Shop leased 2,800 square feet;

Coast Dental leased 1,403 square feet at Plantation Square located at 5375 N. Socrum Loop Rd. in Lakeland;

Tri-Florida Pool Supply leased 1,247 square feet at the Publix in the Highlands shopping center located at 2125 E. C.R. 540A in Lakeland;

Passion Nail and Spa leased 1,200 square feet at Palm Springs Crossing, 482 E. Altamonte Drive, Altamonte Springs. Michael Battey of CBRE Orlando represented the tenant;

Halloween Express subleased space in two retail centers commencing July 1 for the Halloween season (six months) – at Tarpon Springs Plaza, 2415 Tarpon Bay Blvd. in Naples, 21,600 square feet and 30,000 square feet at Colonial Marketplace, 2999A E. Colonial Drive in Orlando.

For more information, contact:
Justin Greider, Senior Associate, Crossman & Company/ICSC Florida Next Generation Chair, 407-581-6225; jgreider@crossmanco.com;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Over-Reacting to Panic Headlines is Not the Best Strategy for Senior Housing and Healthcare borrowers, Finance Expert Advises

 

CHICAGO, IL--When it comes to covering the bad news people are most interested in following, the news media doesn’t always connect with public sentiment all that well, a recent study by the Pew Research Center for the People & the Press suggests.

In the survey, conducted in May, 33 percent of adult respondents said the news event they followed most closely was the worsening oil spill (centered photo below)in the Gulf of Mexico.

Far back in second place was the new Arizona Immigration law, which 16 percent of those interviewed said they followed most closely. The attempted car bombing in New York‘s Times Square (below centered photo)  was tracked most closely by 13 percent of the sample.

But the media had a different take. In terms of the amount of coverage focused on these events -- what survey sponsors call the “newshole” -- the bomb threat received the most attention with the media devoting 25 percent of its coverage to this event. The Gulf oil spill was close behind at 20 percent but the new Arizona Immigration law was a distant third with a lowly 2 percent coverage total.

From this example one might get the idea that there’s a disconnect between what the media believes the public wants to know more about and what the reality of the situation might be. But the more sensational and frightening headlines usually have a residual effect on public sentiment.

Finance expert Jeffrey A. Davis (top right photo)  notes that the public appears to have moved on following the huge scare brought on by dire predictions of economic Armageddon and the ignominy of government bailouts in the waning hours of the Bush Administration. But the current Pew Research Center Survey suggests that negative energy left over from this debacle remains embedded in the public psyche.

When asked about the economy, 30 percent of survey respondents said the news was mostly bad while only 4 percent said it was mostly good. The remaining 66 percent opined that the news was a mixture of bad and good.

                                                         (Arizona skyline above)
“What this says is that a relatively large percentage of the population remains pessimistically fixated on a negative interpretation of current economic events. Optimists are few and far between, and roughly two-thirds of the population is on an up-and down elevator ride where this topic is concerned,” he noted.

Davis is Chairman of Cambridge Realty Capital Companies, one of the nation’s leading senior housing/healthcare lenders with more than 300 closed transactions totaling more than $3 billion since the mid-1990s. For more than a decade the company has ranked among the top FHA-approved HUD lenders in the country.

“While the industry is more recession proof than most, tight credit markets have been a significant concern. And some senior housing market segments have been negatively impacted by bad news on the housing front.

“The advice we have for borrowers dealing with troubling headlines in difficult times is to be a long-range planner. No one knows the future, but the economy is cyclically-driven with good times usually following bad,” he said.

“Although underwriting criteria has become more restrictive, the good news for senior housing/healthcare borrowers is that interest rates have remained near historical lows. Borrowers able to act on the long-range financial needs of their business at this time most likely will view the timing of their decision in a positive light later on,” he predicted.

Contact:  Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap

Cambridge Realty Capital Says $11.6M HUD Loan Refinances Orchard Villa 1 Nursing Facility in Oregon, OH

CHICAGO, IL--Cambridge Realty Capital Companies reports closing an $11.6 million FHA-insured HUD Lean loan to refinance Orchard Villa I, a 164-bed skilled- care nursing facility in Oregon, Ohio.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 34-year term loan was arranged for the property’s owner, an Ohio corporation, by Cambridge Realty Capital Ltd. Of Illinois, the Cambridge business entity responsible for underwriting HUD loans.

The first mortgage loan was funded using the HUD Section 232 pursuant to Section 223(a)(7) Lean program, which is used to refinance existing HUD loans.

Davis said HUD’s new Lean funding program introduced sweeping changes in the way HUD loans are approved and processed. The Orchard Villa I loan was processed in the “Green Lane,” a special queue created by HUD to fast-track low risk loans.

Contact:  Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

Arbor Closes $1,683,900 Fannie Mae DUS® Small Loan for William Street Apartments in Worcester, MA

Uniondale, NY (July 1, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,683,900 loan under the Fannie Mae DUS® Small Loan product line for the 30-unit complex known as William Street Apartments in Worcester, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.09 percent.

The loan was originated by Edward Petti, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “This was an acquisition of a small apartment complex in Worcester, Massachusetts,” said Petti. “Our underwriting team is very familiar with this market and aggressively moved it through commitment and closing.”

Contact:  Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1

$21.7M Private Resort in California Listed by Marcus & Millichap

CALIFORNIA CITY, Calif., June 30, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the Silver Saddle Ranch and Club (top left photo) , an 80-acre full-service resort in California City.

 The listing price is $21,700,000.

Irwin Woldman, a hospitality investment specialist in the firm’s Encino office, is representing the seller.

“Membership in the Silver Saddle Ranch and Club is private and controlled,” says Woldman. “Each member has purchased a single-family lot nearby, which allows them to join the resort and club. The offering includes more than 900 lots and 1,000-plus undeveloped acres surrounding the resort.”

The property is located at 20751 Aristotle Drive at the foot of the Sierra Nevada mountain range. The 20 Mule Team Parkway, a main thoroughfare, leads from California City’s main business district to the resort.

The Silver Saddle Ranch and Club features a hotel with spa, salon, restaurant, bar and offices.

 The hotel has 45 rooms, including three fully appointed executive suites and eight bungalows with private patios.

Amenities include a family pool, an adults-only pool, a driving range, game room, adult and children’s recreation rooms, exercise room and outdoor seating/barbecue area. Meeting rooms with audio-visual capabilities and a kitchen are also available.

Outdoor recreation at the resort includes miniature golf, bicycling, boating, horseback riding, camping, archery, trap and skeet shooting, picnicking, rock hounding, playing horseshoes and bird watching.

Corporate Spending, Manufacturing Gains to Bolster U.S. Industrial Sector 

ENCINO, CA – While industrial vacancies will remain elevated through year-end 2010, the economic recovery will stabilize property performance and set the stage for modest improvement next year, according to a new report issued by Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm.

“Future economic expansion will be driven by personal and corporate spending, which were the primary drivers of GDP growth during the first quarter of 2010,” says Alan Pontius, managing director of the firm’s National Office and Industrial Properties Group. “As private consumption resumes, business will be encouraged to replenish depleted inventories in anticipation of further increases in demand, albeit at a slow pace.

“Manufacturing continues to post gains, which will also bolster a 2011 recovery in the industrial property sector,” explains Pontius.

"The manufacturing sector grew for the 10th consecutive month during May, driven by continued strength in new orders and production.

According to the Special Industrial Research Report, employment growth will be a crucial component in buoying consumer sentiment and supporting spending, and while recent payroll additions have exceeded expectations, it will take years for the economy to recover the 8.4 million jobs lost during the recession.

Recent positive economic developments have yet to translate into heightened tenant demand for industrial space, as many tenants have more space than they need.

Widespread improvement in the industrial market will likely not occur until 2011 and 2012, when more robust economic and employment growth will take hold.

The report contains the National Industrial Index (NII), which ranks 27 of the nation’s industrial markets based on a various factors, including projected employment changes, construction, net absorption, revenue change and vacancy. Houston, Los Angeles and Denver are the top three markets, while Tampa, Atlanta and Detroit rounded out the bottom of the list.

For a copy of the Special Industrial Research Report from Marcus & Millichap, please log on to http://www.marcusmillichap.com/.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Legacy Partners Completes $264M Mixed-Use TOD at Hollywood and Vine in Los Angeles

LOS ANGELES, CA,  June 30, 2010 — Legacy Partners, a leader in residential and commercial real estate for four decades, has completed development of 1600 Vine (top left photo), a $264 million mixed-use community that combines sleek with sustainable in one of California’s most avant-garde Transit Oriented Developments (TOD).

With 12 stories at the iconic corner of Hollywood and Vine in Hollywood, this premier community features market rate and affordable apartment units, nationally known retailers and a dedicated public parking lot, all located on the historic Hollywood Walk of Fame (middle right photo)  and directly above the Hollywood/Vine Red Line Metro Station. (lower right  photo)

Ten years in the making, 1600 Vine was a collaborative effort between Legacy Partners Residential, Gatehouse Capital and the Community Redevelopment Agency of the City of Los Angeles (CRA/LA).

 It encompasses 375 apartments (297 market rate, 78 affordable), 32,595 square feet of ground floor retail featuring Trader Joe’s, Wells Fargo Bank, Café Entourage, Bubbles (a full service dry cleaners), and a 215-space, on-site public parking lot.

 The community also shares a city block and grand valet parking entry and podium with the W Hotel Hollywood and W Residences, which boasts the famous 30,000-square-foot Drai’s Hollywood nightclub, (middle left photo) one of the most popular rooftop club destinations in Los Angeles. Collectively, the property brings the Golden Age of Hollywood into today’s fast-paced, celeb-driven LA.

With a multitude of floor plan configurations, pet-friendly apartment homes at 1600 Vine range in price from $2,375 to $11,125 per month.

There are 110 studios, 132 one-bedroom flats, 6 one-bedroom townhomes, 78 two-bedroom flats, 47 two-bedroom townhomes and 2 three-bedroom townhomes ranging in size from 612 square feet to 3,183 square feet.

Chic, spacious flats and lofts feature expansive windows, allowing residents to experience the city light and hillside views, including the famous Hollywood sign and Griffith Observatory.

Apartment amenities include spacious gourmet kitchens with solid surface counter tops and Energy Star gas range, microwave, dishwasher and refrigerator with icemaker; full-size stack washer and dryer; bathrooms featuring solid surface countertops and framed mirrors; central heat and air; and pre-wiring for high speed Internet access and cable TV.

Enviable on-site community amenities include a Resident’s Lounge with LCD TVs, billiards, bar and catering kitchen; 6th floor pool, spa, outdoor fireplace and gas barbeques; fitness studio with cardio, free weights, boxing bag and yoga/Pilates room; multiple outdoor furnished lounge retreats with Los Angeles skyline views; 11th floor rooftop terrace featuring outdoor fireplace, LCD TV, lounges and Zen garden; and an executive conference room and fully-equipped business center.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

JLL Completes 28,700-SF Lease in Lake Forest, CA

LAKE FOREST, CALIF., June 30, 2010 – Jones Lang LaSalle represented Trimedyne in a multi-year, 28,700-square-foot lease renewal at 25901 Commercentre Drive in Lake Forest, California. This one building property serves as the company’s headquarters.

Trimedyne, Inc. is a manufacturer of lasers and disposable fiber optic delivery devices for use in a variety of surgical applications including, urology, orthopedics, ENT surgery, gynecology, GI surgery, and general surgery.

David Y. Cantwell, Executive Vice President of Jones Lang LaSalle, represented Trimedyne in the transaction. Curt Stalder of Lee & Associates represented the landlord, a private investor.

“Trimedyne took advantage of the current commercial real estate market conditions and achieved substantial more favorable lease term saving thousands of dollars,” said Cantwell

Contact:  David Ebeling, Phone:, +1 949 278 7851, Email:, david@ebelingcomm.com

Arbor Closes $15M Fannie Mae DUS® Loan for Continental Village Apartments in West Covina, CA

Uniondale, NY (June 30, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $15,000,000 loan under the Fannie Mae DUS® product line for the 200-unit complex known as Continental Village Apartments in West Covina, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.26 percent.

The loan was originated by Greg Gillam (top right photo), Director, in Arbor’s full-service Manhattan Beach, CA lending office. “This is another example of Fannie Mae’s ability to provide low-cost financing for properties that provide affordable market rental rates,” said Gillam.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1

Buffalo Wild Wings in Brandon, FL Gets $2M Loan

SARASOTA, FL, June 30, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,070,000 for the Buffalo Wild Wings in Brandon, Florida.


Brad Cox, (top right photo)  CCIM, CPM, Company Vice President, secured financing for the Buffalo Wild Wings through Thomas D. Wood and Company’s relationship with a national bank.

The borrower is a Buffalo Wild Wings franchisee who was leasing the space from the former building owner, and was given the opportunity to purchase the property through a SBA-504 Program.

The full-recourse loan has an interest rate of 6.25%, based on a 20-year term and 25-year amortization. The loan-to-value is 90%. The 6,400 square-foot single-tenant restaurant was built in 2004 and is located at 2055 Badlands Drive, Brandon, Florida.

For further information, please contact:

Brad Cox, CCIM, CPM (941) 552-9731 bcox@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

$10.1M Ground Lease for Lowe's Listed by Marcus & Millichap

KNOXVILLE, TN – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 160,000-square foot Lowe’s ground lease in Knoxville. The listing price of $10.1 million represents $63 per square foot.

Alvin Mansour, (top right photo)  a senior vice president investments and a senior director of the firm’s National Retail Group in San Diego, is representing the seller. Anne Williams, an investment specialist in the firm’s Memphis office, is also providing representation.

“Lowe’s has signed a 20-year triple-net ground lease with rent increases between each of the six five-year options,” says Mansour. “The property is positioned immediately east of a Wal-Mart Supercenter and a Home Depot. Other retailers close by include Food City, Goody’s, Walgreens, Sprint, IHOP and H&R Block,” adds Mansour.

The property is located at 7520 Mountain Grove Drive at the intersection of Highway 441 and Highway 168, with excellent exposure along these two dominant traffic corridors.

Lowe’s is publicly traded on the NYSE under the ticker symbol LOW. The company currently has Standard & Poor’s credit rating of A.

Knoxville is one of the nation’s fastest-growing MSAs.

Charles G. Shillington  Promoted to First Vice President Investments in Ontario, CA

ONTARIO, Calif.., June 30, 2010 — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Charles G. Shillington (bottom right photo)  to the position of first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to Douglas J. McCauley, regional manager of the firm’s Ontario office.

Shillington joined Marcus & Millichap in February 1990. He was promoted to associate in December 1996 and senior associate in June 1998.

He became a senior investment associate in July 2002 and earned vice president investments status in January 2008. He specializes in the sale of retail assets and currently serves as a director of the firm’s National Retail Group. Shillington has received numerous sales achievement awards from Marcus & Millichap, including four National Achievement Awards.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

HFF Securities serves as financial advisor in sale of $1.35 billion iStar CTL Portfolio

LOS ANGELES, CA – HFF Securities L.P., an affiliate of Holliday Fenoglio Fowler, L.P. (HFF), announced today that it served as the exclusive financial advisor to iStar Financial Inc. (NYSE:SFI) in the sale of a nationwide portfolio of 32 corporate tenant-leased properties, or interests therein, totaling approximately 11.3 million net rentable square feet of office and industrial space.

HFF Securities head of investment banking Dan Cashdan, senior managing director Doug Bond and director Mike Joseph, CFA, led the team exclusively advising iStar on the sale. Dividend Capital Total Realty Trust, Inc. purchased the portfolio for approximately $1.35 billion.

Working on behalf of Dividend Capital, executive managing director John Fowler and directors Janet Krolman (top right photo)  and Greg LaBine (top left photo)  of HFF Boston arranged approximately $750 million of senior secured acquisition financing through a combination of fixed and floating-rate facilities.

“We believe that this is the largest real estate transaction completed this year,” said Cashdan. “Both iStar and Dividend Capital worked cooperatively to execute a large, complicated transaction in a timely manner.

"We are honored to have served as financial advisor on this transaction and to have achieved the objectives of both the buyer and seller.”

“We are pleased to have assisted Dividend Capital in arranging a creative financing solution for the transaction,” said Fowler. “The parties worked diligently to complete the financing transaction on attractive terms in a narrow time frame.”

HFF Securities L.P. is a registered broker-dealer with the SEC and a member of FINRA.


Holliday Fenoglio Fowler, L.P., and HFF Securities L.P. are acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740

Contacts:

Doug Bond, CA Lic (#01701004), HFFS Senior Managing Director, (310) 407-2100, dbond@hfflp.com
 Janet Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF to market for sale two GSA-leased single tenant office properties

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been exclusively retained to market for sale two U.S. Government-leased, single tenant office buildings in Las Vegas, Nevada and Denton, Texas, a suburb of Dallas-Fort Worth.

The FBI Building, (middle right photo)  in Las Vegas, Nevada totals 106,955 square feet and is leased to the Federal Bureau of Investigation (“FBI”) through October 2021.

The FEMA Building is an 83,481-square-foot facility in Denton, Texas that is leased to the Federal Emergency Management Agency (“FEMA”) through May 2022. Both buildings were constructed in the past nine years as build-to-suit facilities for these GSA entities.

Contacts:

Barry M. Brown, HFF Senior Managing Director, (214) 265-0880, bbrown@hfflp.com
Andrew S. Levy, HFF Senior Managing Director, (214) 265-0880, alevy@hfflp.com
Todd W. Savage, HFF Managing Director, (214) 265-0880, tsavage@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF named to market for sale Simi Valley Town Center in California

IRVINE, CA – The Orange County and Los Angeles offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have been exclusively retained to market for sale Simi Valley Town Center, (bottom right photo)  a newly-developed, trophy lifestyle center located off the 118 Freeway in Simi Valley, California.

HFF senior managing director Ryan Gallagher (lower left photo)  and directors Bryan Ley, Kelly Rohfeld (bottom right photo) and John Crump will market the property on behalf of the seller.

The 612,000-square-foot lifestyle center has an impressive merchandising mix containing some of the nation’s most recognizable retailers including: Macy’s, Apple, Anthropologie, Chico’s, Coldwater Creek, California Pizza Kitchen, Forever XXI, Urban Outfitters and Victoria’s Secret.
 

Developed by Forest City Enterprises and designed by F+A Architects, the project is modeled after a hillside Italian village with oak trees, a Koi pond, an outdoor fireplace and garden. F+A also designed such recognizable projects as Glendale Galleria and the internationally renowned South Coast Plaza in Costa Mesa.

The project is currently 86% occupied by 90 tenants and provides additional land for outparcel development.

The center serves the affluent and growing community of Simi Valley. The average household income in Simi Valley exceeds $112,000 per year and the population has grown more than 12% over the past decade.

In addition, Simi Valley Town Center is strategically located adjacent to the upscale, 500-unit Archstone Simi Valley apartment community. The project is expected to garner interest nationally from a wide range of private and institutional investors.

Contacts:

Ryan Gallagher, Ca. Lic. (#01269918), HFF Senior Managing Director, (949) 798-4100, rgallagher@hfflp.com
Bryan Ley, Ca. Lic. (#01458927), HFF Director,  (310) 407-2120, bley@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Grubb & Ellis Healthcare REIT II Acquires Livingston Medical Arts Pavilion in Texas

 
LIVINGSTON, TX  (June 30, 2010) – Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired Livingston Medical Arts Pavilion, (top left photo)  a two-story, 30,000-square-foot, multi-tenant medical office building in Livingston. The acquisition closed on June 28.

Located at 403 Ogletree Drive, Livingston Medical Arts Pavilion is located on the 41-acre campus of, and adjacent to, the Memorial Medical Center – Livingston, (lower left photo)a 66-bed facility specializing in critical access care and women’s health.

A member of the Memorial Health System of East Texas, the medical center recently constructed a new 160,000-square-foot hospital wing in response to growing demand for healthcare services in the community.

“Livingston Medical Arts Pavilion is a Class A building that is fully leased on the campus of a thriving medical center,” said Danny Prosky (middle right photo), president and chief operating officer of Grubb & Ellis Healthcare REIT II. “Additionally, this acquisition is immediately accretive and supportive of our stockholder distribution, making it an ideal and very attractive addition to our portfolio.”

Built in 2007 within close proximity of Highway 59, the property is 100 percent leased to multiple tenants, but primarily to Memorial Health System of East Texas, which leases approximately 94 percent of the building.

 Livingston Medical Arts Pavilion offers multiple clinical procedures, including: neurology, sleep medicine, podiatric surgery, sports medicine, pediatrics, obstetrics, gynecology, family medicine and rheumatology.

Livingston Medical Office Building was acquired from McShane Development, an unaffiliated third party represented by Toby Scrivner and Jeff Matulis of Stan Johnson Company. Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

Grubb & Ellis Facilitates REO Sale of Kaleidoscope Retail Center in Mission Viejo, CA for $22M

NEWPORT BEACH, CA (June 30, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Dixie Walker (lower left photo) , executive vice president, Financial Services Asset Management, represented both parties in the sale of Kaleidoscope Retail Cente (lower right photo)  in Mission Viejo.

 Westport Capital Partners LLC purchased the 220,000-square-foot center from C-III Asset Management LLC, the special servicer of the property formerly known as Centerline, for $22 million in an all-cash sale.

“Westport Capital was a very committed buyer who saw the tremendous potential of this property and executed very quickly. Their active, hands-on management will help this property realize its full potential. This deal is significant as it represents one of the first significant retail foreclosures in Orange County,” Walker said.

The three-story Kaleidoscope lifestyle and entertainment center is located at 27741 Crown Valley Parkway at the intersection of Interstate 5 and Crown Valley Parkway. Constructed in 2000 on nearly five acres of land, the property is 62 percent leased to retailers such as Regal Theatres, Buffalo Wild Wings, Islands Restaurant, Burke Williams Salon and Day Spa, Riptide Restaurant, The Derby Restaurant and Piano Bar and Laser Quest.

“The City of Mission Viejo is looking forward to the upcoming renovation and transformation of Kaleidoscope Retail Center into a vibrant retail, restaurant and entertainment center serving the needs of South Orange County,” said Trish Kelley, mayor of Mission Viejo.

Westport Capital Partners named Mark Baziak, senior vice president, and Terrison Quinn, associate, also of Grubb & Ellis’ Retail Group, as the leasing agents of the property at the time of the sale.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com