Law360 Ranks Largest Real Estate Practices

NEW YORK, NY Feb. 13, 2012 /PRNewswire/ -- A new ranking of the law firms with the biggest real estate practices by Law360, the newswire for business lawyers, reveals that success in New York's dizzying real estate market does not require armies of practitioners.

The firms at the top of the Law360 Real Estate 100 make clear that although New York is the cynosure of the real estate industry, its law firms do not always have the biggest real estate headcounts.

"Our survey shows New York-based firms don't boast the biggest real estate practice groups, even though the biggest deals are done here and the attorneys at New York-based firms will undoubtedly be experts in handling the complexities involved in those deals," Law360 managing editor Cat Fredenburgh (top right photo) said.

The Real Estate 100 is part of Law360's practice area survey covering bankruptcy, competition, employment, energy, environmental, government contracts, insurance, intellectual property, international trade, media and entertainment, mergers and acquisitions, privacy and consumer protection, product liability, project finance, real estate, securities, and white collar.

The rankings are accompanied by an article on the three biggest powerhouses of each practice area.

The Real Estate 100 includes Akerman Senterfitt, Allen & Overy, Allen Matkins, Andrews Kurth, Arent Fox, Baker & McKenzie, Baker Donelson, Baker Hostetler, Ballard Spahr, Blank Rome, Bracewell & Giuliani, Bradley Arant, Brownstein Hyatt, Bryan Cave, Buchanan Ingersoll, Cox Castle, Dechert, Dickinson Wright,

DLA Piper, Drinker Biddle, Duane Morris, Fasken Martineau, Foley & Lardner, Fredrikson & Byron, Fried Frank, Gibson Dunn, Goodwin Procter, Gordon & Rees, Gray Robinson, Greenberg Traurig, Hinshaw & Culbertson, Holland & Hart, Holland & Knight, Husch Blackwell, Jones Day, K&L Gates, Katten Muchin,

King & Spalding, Kramer Levin, Kutak Rock, Latham & Watkins, Lathrop & Gage, Locke Lord, Manatt Phelps, Mayer Brown, McCarter & English, McElroy Deutsch, McKenna Long, Morrison & Foerster, Nixon Peabody, Orrick, Patton Boggs, Paul Hastings,

 

Perkins Coie, Pillsbury, Polsinelli Shughart, Porter Wright, Quarles & Brady, Reed Smith, Robinson & Cole, Saul Ewing, Seyfarth Shaw, Sheppard Mullin, Sidley Austin, Skadden, Snell & Wilmer, SNR Denton, Squire Sanders, Stinson Morrison, Thompson & Knight, Troutman Sanders, White & Case, Womble Carlyle.

Law360 (www.law360.com) is a publisher of legal news and data, and one of the fastest-growing media companies in the U.S. The company covers breaking news on high-stakes litigation, as well as legislative and regulatory developments.

Contact: Samuel Howard, +1-646-783-7152, sam.howard@law360.com

Web Site: http://www.law360.com

Bull Realty Handles Leasing of Buckhead, GA Building to Miz Scarletts

 ATLANTA, GA (Feb. 13, 2012) – Bull Realty has brokered the lease of 20,000 square feet of freestanding Buckhead space to Miz Scarletts, a well-known women’s clothing store that specializes in colorful gowns featuring a Southern, “Gone with the Wind” style.

Miz Scarletts moved into 2789 Piedmont Road (top left photo), whose exterior resembles a residential mansion, on Feb. 1. Daniel Latshaw (lower right photo), a partner with Bull Realty, represented the landlord, Mercedes-Benz of Buckhead, and was the only agent involved in the transaction.

The property, located between the Mercedes-Benz of Buckhead dealership and the Miami Circle Design District, features open spans, structural columns, a traffic count of 45,690 vehicles per day, 18 surface parking spaces and access to an adjacent parking deck.

“We are very proud of our role in bringing this wonderfully unique tenant to such a quality location,” Latshaw said. “This store, with its growing and loyal customer base, will bring tremendous value to our landlord client.”

Bull Realty Inc. is a full-service commercial real estate brokerage firm providing investment sales services throughout the nation and corporate services in the Southeast. The firm was founded 14 years ago with two primary missions: 1) to provide a company of stellar integrity and reputation, and 2) to provide the best commercial real estate marketing in the nation.

Contact

Stephen Ursery

 Wilbert News Strategies LLC

404-965-5026

sursery@wnspr.com

Carter Names Scott Cloud Vice President in Investments Group

  

ATLANTA, GA (Feb. 13, 2012) – Carter, one of the country's leading real estate development, investment, and advisory firms, said today Scott Cloud (top right photo)has shifted his focus with the company and now is a vice president ofacquisitions in its Investments Group.

 Carter made the move to leverage Cloud’s experience in acquisitions as the company focuses on the pursuit of $500 million in investment and equity development opportunities.

 In his new role, Cloud focuses on investment management and new investments. He also leads Carter’s office acquisition efforts. Cloud previously served as vice president responsible for asset management of the Carter Real Estate Funds.

Carter currently is pursuing $500 million in new investments and developments. In particular, Carter is seeking investments in well-located value-add office, healthcare facilities and urban infill properties. The company also is seeking equity investment in student housing and mixed-use developments.

 Cloud joined Carter in 2009. Prior to joining Carter, he served as vice president of acquisitions at Parthenon Realty, an affiliate of AREA Property Partners.

 “Scott has the right background for a leadership role on our investments team,” Carter Vice Chairman Jim Shelton (middle left photo) said. “He will help identify potential investments in andacquisitions of office properties and mixed-use developments.”

 

Cloud will play a critical role when Carter kicks off its new multi-family real estate-focused fund as well.

Cloud earned an MBA at the University of Florida and a bachelor’s of finance at the University of Alabama. He is a member of Urban Land and is on the board of the Boys & Girls Clubs of DeKalb County.

 For additional information on Carter, please visit http://www.carterusa.com.

 Contact:  Tony Wilbert, twilbert@wnspr.com

Grubb & Ellis Selected as Exclusive Leasing Agent for 1.1 MSF Hilltop Mall in Richmond, CA

WALNUT CREEK, CA – Grubb & Ellis Company announced that Deborah Perry, senior vice president, Adria Giacomelli, senior associate, and Ramsey Wright, associate, all in the company’s Retail Group, have been selected by Simon Property Group, Inc. as the exclusive leasing agents for Hilltop Mall (top left photo) in Richmond, Calif.

 A regional mall with more than 1.1 million square feet of leasable space, Hilltop Mall’s anchor tenants include Macy’s, JC Penney, Sears, 24 Hr Fitness and Walmart. The city of Richmond, which has over 100,000 residences, is located off of I-80, just 16 miles northeast of San Francisco.

Hilltop is aggressively seeking family-friendly restaurants and retailers as well as tenants interested in alternative uses such as medical offices and trade schools. Many of the spaces are already improved and ready for restaurants and retailers to move in.

 Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S.

 For more information, contact Perry or Giacomelli at 925.939.3500, or Wright at 510.444.7500.

 Contact:   Monica Sparreo, 312.698.6709, monica.sparreo@grubb-ellis.com  

Grubb & Ellis Represents Midtown Self Storage in Houston, TX Sale of 534-Unit Property to CubeSmart

 HOUSTON, TX – Grubb & Ellis Company announced that its Self Storage practice group represented Midtown Self Storage (top left photo) in the sale of a 534-unit, 47,585-square-foot Class A self storage facility located at 1019 West Dallas in Houston.

 Steve Mellon (lower right photo) vice president in Grubb & Ellis’ Houston office, and Pete Williams, (lower left photo) executive vice president at Grubb & Ellis|Memphis, facilitated the sale to CubeSmart, a self-administered and self-managed real estate investment trust that owns or manages 456 self storage facilities across the United States.

Built in 2004, the institutional-quality property is located in an area with excellent growth projections over the next five years. The award-winning development, designed by Meeks + Partners, is located in one of Houston’s premier up-and-coming neighborhoods and enjoys high exposure from traffic commuting to and from downtown Houston.

“The property at 1019 West Dallas features newer construction that includes state-of-the-art systems, covered loading areas and climate control,” said Mellon. “In addition, its street presence and location make it a top choice among area customers.”

Contact:   Monica Sparreo, 312.698.6709, monica.sparreo@grubb-ellis.com           

Marcus & Millichap Lists Designer Shoe Warehouse in Broomfield, CO for $13.6 Million

BROOMFIELD, CO – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for a 35,000-square foot Designer Shoe Warehouse (DSW) (top left photo) in Broomfield, a Denver suburb. The listing price of $13,600,000 equates to $389 per square foot.

Mark Thiel (middle right photo), a senior associate in Marcus & Millichap’s San Diego office, is representing the seller, a Denver-based LLC. Michael Hoffman (lower left photo), first vice president investments in the firm’s Denver office, is also providing representation.

 “The property was constructed in 2002 and the tenant is on the original 15-year triple-net lease,” says Thiel. “The lease includes 10 percent increases every five years. This listing is a perfect opportunity for a passive investor to acquire a successful national brand name retail store in a desirable metro-Denver retail location,” Thiel adds.

The DSW store is located at 595 Flatiron Blvd. at the entrance to the 1.5 million-square foot Flatiron Crossings mall, just off U.S. Route 36, which connects Denver and Boulder.

Flatiron Crossings is the premier shopping destination in the Broomfield market. The mall is anchored by Nordstrom, Macy’s and Dillard’s. The perimeter of the mall is filled with commercial development, including a Walmart Supercenter, restaurants, retail strips, offices and hotel properties.

DSW has more than 352 locations in 40 states. The chain’s net sales increased 8.5 percent the third quarter of 2011 to $530,700,000.

Broomfield is an upscale community with home prices ranging from the $200,000s to more than $2 million.

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

Fifth Avenue Apartment Building in Greenwich Village, NYC, Sells for $12.5 Million

NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 12 Fifth Ave., (top left photo) a 10-story, 33-unit elevator apartment building located between 8th and 9th streets in central Greenwich Village.

The sales price of $12.5 million represents $378,788 per unit, $640 per square foot and a capitalization rate of 3.29 percent.

John Stewart, a multifamily investment specialist in Marcus & Millichap’s Manhattan office, represented the seller, Mar-Mart Realty Co. Inc., and also represented the buyer, a New York City-based real estate investor.

“Current ownership had been in place for over 65 years, which offered a buyer the opportunity to reposition the asset. Very few elevator buildings come to market in this area, and the building is on the Gold Coast section of Fifth Avenue,” says Stewart.

 “It was very important to the family that the offering be marketed widely and a competitive process executed to ensure the highest price. As expected, many bidders came to the table with strong offers, and the building traded quickly near the asking price with very aggressive terms.”

Built in 1906 as a hotel and converted to apartments in the 1940s, 12 Fifth Ave. measures approximately 26 feet by 98 feet. The 19,545-square foot building is on a 26-foot by 100-foot R10-zoned lot with a 10 FAR maximum. There are approximately 6,690 square feet of additional air rights.

12 Fifth Ave contains 14 one-room/no-kitchen units, 12 two-room apartments, four three-room units and two four-room apartments. There are 17 free-market apartments, 12 rent- stabilized units, one rent-controlled apartment, one owner-occupied apartment and one super’s unit. There is also a dentist’s office on the ground floor and a rooftop Metro PCS antenna.

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

The Residences at W South Beach Hits $250 Million Dollars in Sales

MIAMI BEACH, FL /PRNewswire/ -- The Residences at W South Beach (top left photo) reports a total of $250 million in sales to date. This noteworthy milestone for the project follows a series of 40 closings between May and September 2011 with prices averaging over $1600-per-square-foot.

The 408-unit oceanfront condo-hotel has consistently maintained its premium price point since the inception of sales in 2006, just prior to the market crash that caused the South Florida real estate bubble to burst and a high percentage of projects to halt efforts.

 Pricing at W South Beach continues to far exceed that of its neighbors, with many of surrounding properties selling at over $1000-per-square-foot.

"I am thrilled with the sales results we are seeing at W South Beach," said David Edelstein (lower right photo), the property's co-owner and developer.

 "We launched this project before the market crashed, worked our way through the worst economic downturn in our lifetime, and have come through it with sustained and well-above average pricing. At the end of the day, we are delivering a truly exceptional product in a remarkable location."

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

 Jessica Milton, jmilton@hs-pr.com, or

Vanessa Poskanzer, vanessap@hs-pr.com, both of Harrison & Shriftman, +1-305-534-0008

Web Site: http://www.wsouthbeachresidences.com

Noble Investment Group Acquires Two Hotels to be Redeveloped as the Hyatt Atlanta Midtown and Memphis Marriott East

ATLANTA, GA /PRNewswire/ -- Noble Investment Group ("Noble"), a leading lodging and hospitality investment organization, announced it completed more than $350 million in real estate investments over the past twelve months, increasing Noble's owned asset portfolio by 14 hotels.

 Most recently, Noble has acquired the Hotel Midtown (middle left photo) in Atlanta and the Holiday Inn Memphis East (bottom right photo). 

Currently, these transient oriented full service hotels are each undergoing a comprehensive repositioning and will be rebranded as the Hyatt Atlanta Midtown and the Memphis Marriott East, respectively.

"These acquisitions represent Noble's ability to source opportunistic investments that best utilize our value-adding core competencies," said Mit Shah (top right photo), Noble's chief executive officer.

 "The Hyatt Atlanta Midtown and the Memphis Marriott East redevelopments are strong examples of our ability to renovate and reposition first class real estate to optimize a hotels physical space, brand affiliation, and operational performance in order to maximize revenue potential and create stable yield."

The 191-room Hyatt Atlanta Midtown will open in early 2013 after a $21 million redevelopment.

The 243-room Memphis Marriott East will open in the fourth quarter of 2012 after a $19 million dollar comprehensive repositioning of the asset. 

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

Bonnie Herring, Director, Corporate Communications, Noble Investment Group, +1-404-262-9660, bonnie.herring@nobleinvestment.com

Web Site: http://www.nobleinvestment.com

22nd New Condo Tower Proposed For South Florida Since Real Estate Crash

MIAMI, FL -- Fueled by steady presales at the nearby Apogee Beach condo tower, (lower left photo),  a Miami entity ultimately controlled by Jorge Perez (top right photo) of the Related Group, is planning a 31-story tower with condo and hotel units fronting the Intracoastal Waterway in the city of Hallandale Beach in Southeast Broward County, according to a new report from CondoVultures.com.

The proposed Beachwalk tower - which would stand 305-feet high with 84 residential units and 432 hotel rooms at the western end of the Hallandale Beach Boulevard Causeway - is the second new project slated for construction in the Hollywood / Hallandale Beach coastal condo market since the South Florida real estate crash, according to the CondoVultures.com Preconstruction Condo Projects list.

Overall, the proposed Beachwalk project would be the 22nd new condo tower with nearly 4,400 units planned for the coastal area of the tricounty South Florida region despite an estimated 4,200 developer units remaining unsold as of Dec. 31, 2011, according to a preliminary estimate based on the CondoVultures.com Official Condo Buyers Guide™ series.

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

Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

Post Properties Announces Fourth Quarter 2011 Earnings

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced net income available to common shareholders of $3.0 million, or $0.06 per diluted share, for the fourth quarter of 2011, compared to net income of $2.4 million, or $0.05 per diluted share, for the fourth quarter of 2010.

Net income available to common shareholders for the year ended December 31, 2011, was $19.3 million, or $0.38 per diluted share, compared to a net loss of $14.5 million, or a net loss of $0.30 per diluted share, for the year ended December 31, 2010.

The Company’s net income (loss) available to common shareholders for the three months and year ended December 31, 2011 included a $6.9 million loss on the early extinguishment of indebtedness.

The Company’s net income (loss) available to common shareholders for the year ended December 31, 2010 included non-cash impairment charges of approximately $40.6 million primarily relating to the Company’s condominium projects, offset by a net gain of $26.4 million related to the acquisition of all remaining interests in its Atlanta condominium project, adjacent land and infrastructure and the acquisition of the related construction loans.

For a complete copy of the company’s news release and statistics, please contact  Post Properties, Inc., Chris Papa, 404-846-5028

Behringer Harvard Announces Sale of Luxury Multifamily Community in Fort Myers, FL

DALLAS,  TX /PRNewswire/ -- Behringer Harvard announced today that it has completed the sale of The Palms of Monterrey (top left photo), a 408-unit, resort-style multifamily community situated on a 28-acre site in Fort Myers, which is on Florida's southwest coast in Lee County, approximately 100 miles south of Tampa.

The buyer was Newton, Massachusetts-based Churchill Forge Properties, Inc., an owner and operator of more than 10,000 units of multifamily housing.

"We have been pleased with the performance of The Palms of Monterrey in terms of its sustained occupancy and net operating income, which exceeded expectations," said Mr. Samuel A. Gillespie (top right photo), Chief Operating Officer of Behringer Harvard Opportunity REIT II, Inc.

 "In addition to these property-level performance factors, heightened investor interest in the multifamily property sector has been compressing cap rates. These conditions combined to make this an opportune time for us to market The Palms of Monterrey and capture an attractive 28 percent return on our investment.*"

Behringer Harvard acquired a fee simple interest in The Palms of Monterrey in May 2010 through a joint venture between Behringer Harvard Opportunity REIT II, Inc., a public non-listed real estate investment trust, and a partnership formed by DeBartolo Development and Christian Tyler Properties, LLC.

Before May 2010, the joint venture held an interest in a promissory note secured by The Palms of Monterrey that was acquired in October 2009 from the Federal Deposit Insurance Corporation, which was acting as receiver for Corus Bank.

"The Palms of Monterrey is an excellent example of our investment strategy at work, from acquisition to disposition," said Mr. Edward Kobel (middle left photo), President and Chief Operating Officer of DeBartolo Development.

"We acquired The Palms of Monterrey during a time when the capital markets had frozen and financing wasn't available.

"Anticipating a decline in single-family housing demand resulting from the foreclosure crisis, we saw this as an exceptional opportunity to buy a first-class multifamily asset at a significant discount. We successfully added value by leveraging our core competencies and ultimately benefiting from rising demand for apartments and the property's excellent location."

For more information, contact our U.S. headquarters toll-free at 866.655.3600 or our European headquarters at 011 49 40 34 9999 90, or visit us online at http://www,behringerharvard.com.

Contacts:

 Barbara Marler of Behringer Harvard, +1-469-341-2312, bmarler@behringerharvard.com;

Nicole Traycoff of Richards Partners for Behringer Harvard, +1-214-891-5751, nicole_traycoff@richards.com

Web Site: http://www.bhfunds.com

NAI Realvest Negotiates Two New Lease Agreements totaling 26,400 SF at Poinciana CommerCenter West in Kissimmee, FL

ORLANDO, FL– NAI Realvest recently negotiated two new lease agreements totaling 26,400 square feet of industrial space at Poinciana CommerCenter West in Kissimmee. 

 Michael Heidrich (top left photo), principal and his son Michael Heidrich Jr. (top right photo), an associate at NAI Realvest, teamed up to negotiate a new lease for 12,800 square feet at 1752-1754 Business Center Lane on behalf of the landlord Maitland-based Poinciana CommerCenter West, LLC. 

The tenant Gilligan & Ferneman, LLC, a local e-commerce company, was represented by Jennifer Wilson Realty in the transaction.

 Heidrich, Sr. also represented Poinciana CommerCenter West in a lease with Deeja Foods, Inc. of Kissimmee for 13,600 square feet of space at 1770 Business Center Lane.  The tenant was represented by Jean Badley of Overton Realty. 

For more information, contact:

Michael Heidrich, Principal, NAI Realvest, 407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

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

 Florida Hospital Signs 7.5-Year Lease for Office Space at Oaks Professional Center in Lady Lake, FL

 ORLANDO, FL. – NAI Realvest recently negotiated a new 7½-year lease agreement for 3,328 square feet of medical office space in the Oaks Professional Center, 8575 138th Lane in Lady Lake.

 Jack W. Lynch, senior broker associate at NAI Realvest negotiated the transaction representing the landlord, 138th Place Properties, LLC of Windermere,   

The new tenant is Orlando-based Florida Hospital, who joins existing tenants at the center, Fla. Cancer Institute–New Hope, Family Doctors of Bellview and First Impressions Dental Care. 

 “The Oaks Professional Center is ideally suited for medical services,” Lynch said.

 Anne Deason (middle left photo) of Grubb & Ellis represented the tenant in the transaction.

For more information, contact

Jack W. Lynch, NAI Realvest 407-875-9989 or jlynch@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

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

 Heartfelt Home Care Signs Sublease at Quorum Center in Southwest Orlando  

ORLANDO, Fla. - NAI Realvest recently negotiated a new sublease agreement for 2,231 square feet of office space at Suite G-16 of the Quorum Center,  4305 Vineland Rd., in southwest Orlando. 

 NAI Realvest principal Christie Alexander (lower right photo), Associates Drew Saphos (lower left photo), CCIM and Paul Vera and George Livingston, chairman emeritus of the firm, negotiated the agreement representing the sublessee, Orlando-based Heartfelt Home Care of District 7, Inc. a home health agency.  

The sublessor Fines Enterprises, Inc. of Orlando was represented in the transaction by Ray Romano of CBRE.

For more information, contact

Christie Alexander, Principal, NAI Realvest 407-949-0704, calexander@realvest.com

George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com

 Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

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

PCCP Provides $65 Million Senior Loan to Finance Acquisition and Repositioning of 165-Room Cassa Hotel in New York City

NEW YORK, NY, Feb. 10, 2012 - PCCP, LLC announced today it has provided a $65 million senior loan for the acquisition and repositioning of Cassa Hotel (top left photo),  a 165-room luxury hotel property located at 70 West 45th Street in New York City, on behalf of the buyer, HNA Property Holding Group Co, a Chinese corporation.

The loan is secured by the lower 24 stories and basement levels (hotel and retail portion) of a 45-story tower, with floors 25-45 consisting of residential condo units that are not collateral for the loan. 

Cassa Hotel is located in the heart of midtown Manhattan on 45th Street between 5th and 6th Avenues.  The property is newly constructed and was purchased from the original developer who delivered the project in August 2010.

“This investment gives PCCP the opportunity to originate a loan at an attractive basis on a newly constructed luxury hotel in a market with strong fundamentals,” said Rob Cohen, senior vice president with PCCP.

Kevin Chin, vice president with PCCP added: “The property has an ideal Midtown Manhattan location that is proximate to a wide range of demand drivers including Times Square (middle right photo), Rockefeller Center (lower left photo), luxury shopping on Fifth Avenue and the midtown office market, and we expect the property will benefit from the opening of the BLT restaurant and improved management by an experienced operator.” 

In addition to the 165 hotel rooms, Cassa Hotel includes 11,000 square feet of restaurant space leased to BLT Restaurant which is scheduled to open in early 2012, 1,100 square feet of meeting space, 2,000 square feet of lounge and outdoor terrace space, and a fitness center.

HNA has plans for a minor renovation and will commence a rebranding of the hotel to a boutique luxury 4-star hotel that will be managed by Viceroy Hotel Group.

Contact: Darcie Giacchetto, Spaulding Thompson & Associates, 949.278.6224

Ed Fritsch Appointed to Board of Directors of National Retail Properties, Inc.

ORLANDO, FL /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that its Board of Directors appointed Ed Fritsch (top right photo) as a member of the company's board.

Mr. Fritsch is President, Chief Executive Officer and Director of Highwoods Properties, a real estate investment trust based in Raleigh, North Carolina.

"We are pleased to add a director of the caliber of Ed Fritsch," said Craig Macnab (lower left photo), Chairman and Chief Executive Officer.  "Ed's extensive real estate and REIT expertise combined with his integrity and professional reputation will be a constructive addition to NNN."

Mr. Fritsch is a member of the National Association of Real Estate Investment Trusts (NAREIT) Board of Governors and serves on its Executive Committee; Director and immediate past President of the YMCA of the Triangle;

Director and audit committee member of Capital Associated Industries, Inc.; member of Wells Fargo's Central Regional Advisory Board; steering committee member of Raleigh Diocesan Cathedral Campus Project; member of the University of North Carolina at Chapel Hill Foundation Board;

Director of the University of North Carolina at Chapel HillReal Estate Holdings; Ravenscroft Board of Trustees and Past Chair of the University of North CarolinaBoard of Visitors. He earned an undergraduate degree in Business Administration from the University of North Carolina at Chapel Hill.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2011, the company owned 1,422 properties in 47 states with a gross leasable area of approximately 16.4 million square feet.

For more information on the company, visit www.nnnreit.com.