Exit Realty of Daytona Beach, FL Appoints Five New Sales Associates

Colleen Pearson and Friend

 DAYTONA BEACH, FL --- Exit Realty of Daytona has appointed five new sales associates.

Aswin Suri, founder of Exit Realty of Daytona Beach, said the five new sales associates are part of a new mentoring and training program which has been initiated in preparation of the new expanded offices Exit Realty will occupy at 3162 S. Atlantic Ave. in Daytona Beach Shores starting in late November.

Bob Jenkins

The new sales associates include Boston native Bob Jenkins, who earned his Bachelor of Arts Degree in Communications at North Adams State College. Jenkins served as an auditor for the Commonwealth of Massachusetts for more than 30 years before entering real estate.

Karien Galien took over her late husband’s business developing subdivisions in Port Orange in 1980, earned her Certified Specialty Contractor’s license and then her Mortgage Broker’s license. She is a Notary Public.  Ms. Galien is a Short Sale and Foreclosure Specialist who is now earning her Certified Residential Specialist certification.

Kathryn Zawacki

Cape Cod native Sean Hurley moved to Florida to serve as a field manager for Jeff Gordon’s Pepsi Racing.  After two full seasons on the NASCAR circuit, Hurley, a certified EMT/Firefighter, enrolled in Real Estate school and recently joined the “A Team” at Exit Realty of Daytona Beach.

Kathryn “Kathi” Zawacki, a Pennsylvanian by birth, served three years active duty as a U.S. Navy Recruiter while pursuing studies at Nassau Community College.

Sean Hurley

 Zawacki, whose career includes a wide range of sales positions and ownership of several businesses, earned her Florida Real Estate license in 2006 and recently joined Exit Realty of Daytona Beach. She lives in an oceanfront condominium in Daytona Beach Shores and specializes in beachfront condominium marketing and sales. 

Colleen Pearson, who has had a long career in music, is originally from Toronto where she performed for many years as a solo artist. She plays guitar, keyboard and sings.  Pearson also owned and operated retail stores in the Georgian Bay area of Toronto before purchasing property in Ontario and pursuing a life-long passion for real estate and eventually settling in Daytona Beach Shores and joining Exit Realty of Daytona. 

Karien Galien

 Visit www.exitrealtyofdaytona.com.

Contact:

Aswin Suri, MHA, B.A., Owner, Exit Realty of Daytona 386-383 3000 or aswin@aswinsuri.com;

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

NAI Realvest names Jimenez Sales Associate

Juan Jimenez

 MAITLAND, Fla. – NAI Realvest, one of the leading commercial real estate firms in the region, recently promoted Juan Jimenez to sales associate.

 Paul P. Partyka, managing partner at NAI Realvest, said Jimenez, a native of Columbia, South America, has been an intern at NAI Realvest for over nine months working with Partyka.  He is a recent graduate of the University of Central Florida and fully bilingual in English and Spanish.

 Partyka said he and Jimenez plan to increase real estate relationships in the Latin American market.  In addition Jimenez will focus on investment sales and the office sector.  

For more information,  contact

 Paul P. Partyka, Managing Partner, NAI Realvest, 407-875-9989 ppartyka@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

MBA Awards Gary Acosta Investing in Communities Award

Gary Acosta

 CHICAGO, IL (Oct. 23, 2012) – Gary Acosta, executive chairman of New Vista Asset Management and co-founder of the National Association of Hispanic Real Estate Professionals (NAHREP), was awarded the Investing in Communities Award today by the Mortgage Bankers Association (MBA).

 This award recognizes someone who reflects the core values of MBA members and upholds our commitment to helping U.S. communities. Mr. Acosta was presented with the award in a ceremony held at MBA's 99th Annual Convention & Expo in Chicago.

                                                              

Joseph R. Reppert

MBA Honors Joe Reppert With Distinguished Service Award

CHICAGO, IL (Oct.  23, 2012) – Joe Reppert, Vice Chairman of CoreLogic, received the Andrew D. Woodward Distinguished Service Award today by the Mortgage Bankers Association (MBA) in recognition of his dedicated and prominent service to MBA and the mortgage lending industry in a variety of capacities involving both legislative and regulatory activities.

Mr. Reppert was presented with the award in a ceremony held at MBA's 99th Annual Convention & Expo in Chicago.

Debra W. Still

“Joe has served several terms on the MBA Board of Directors and contributed significantly to MBA’s advocacy efforts when he was chairman of MORPAC,” said Debra W. Still, CMB, Chairman of MBA.  His dedication and service to the real estate finance industry is unsurpassed.  I look forward to working with him for many more years to come.”  

Mr. Reppert has been in the mortgage banking business for nearly 35 years.  Prior to this, he worked in the political scene in Washington, D.C. on Capitol Hill and as an Office Director of the Home Loan Bank Board.

He is currently the Chairman of the Board of Trustees of the Washington, D.C. based Social Compact, serves on the 2013 Board of MBA, and was the Chairman of MORPAC from 2007-2008.  He has been Chairman of the Fannie Mae Advisory Council and Chairman of the U.S. League Secondary Market Committee.

Jamie Korus

MORPAC Honors Jamie Korus, CMB, with the Distinguished 2012 Schumacher-Bolduc Award

 Chicago, IL — The Mortgage Bankers Political Action Committee (MORPAC) today awarded Jamie Korus, CMB, President of Alliance Financial Resources, with the 2012 Schumacher-Bolduc Award at the association’s 99th Annual Convention and Expo held in Chicago, IL.  The award was given to Korus in recognition of her dedication and prominent service to MORPAC and the mortgage lending industry.

G. Todd White

“Jamie has been an extremely enthusiastic and effective force for MORPAC this year,” said MORPAC Chairman G. Todd White, CMB.  “She has been a prolific recruiter and fundraiser, and is a critical part of the team that will exceed our goals for this election cycle.  We couldn’t have done it without her, and I owe her a huge debt of gratitude for her time and commitment.” 

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

Matt Robinson, (202) 557-2727 

John Mechem, (202) 557-2924

Atlanta’s Morris, Manning & Martin Elects Three Partners

Heather T. Friedman

ATLANTA, GA --Morris, Manning & Martin, LLP  has elected three of its attorneys to the law firm’s partnership. Jason K. Cordon, Rusty A. Fleming and Heather T. Friedman will officially become partners on January 1, 2013.

Jason Cordon is a member of the Corporate, Funds & Alternative Investments, Real Estate Capital Markets and Tax Practices. He advises domestic and international clients on the tax aspects of corporate transactions including mergers, stock and asset acquisitions, dispositions, spin-offs and restructurings. He also provides counsel on the formation of, and investment in, a variety of private equity and investment funds. Cordon, who devotes a significant amount of time to pro bono work, earned his law degree from The University of North Carolina at Chapel Hill.

Jason Cordon

Rusty Fleming, a part of the firm’s Commercial Finance Practice, represents major commercial banks and lenders in a variety of single-asset and multi-asset loans, credit facilities and other debt arrangements. He represents both administrative agents and participant lenders in syndicated and single-lender transactions collateralized by franchise restaurants. He also represents lenders active in the convenience and gas/motor fuel products industry. A graduate of the Cumberland Law School of Samford University, he has represented national CMBS and other fixed-income lenders in hundreds of transactions.

Rusty Fleming

Heather Friedman works in the firm’s Environmental, Construction, Hospitality and Sustainability Practices. She focuses on transactions and acquisitions of properties throughout the U.S. She represents clients in regulatory and transactional aspects of state and federal hazardous site cleanups, National Environmental Policy Act matters, voluntary cleanup/brownfield programs, underground storage tank programs and wetland and state water permitting. She routinely advises them on environmental due diligence and the allocation of risk and liabilities. Friedman earned her degree from the Washington University School of Law.

Louise Wells

Jason, Rusty and Heather have consistently proven themselves to be excellent lawyers, I know they will prove themselves to excellent partners and contributors,” said MMM Managing Partner Louise Wells. “Being a partner at MMM is more than just being an excellent lawyer and bringing in clients, it is about wanting to be part of the team. Jason, Rusty and Heather are great team members.”

Contact:

Terri Thornton

(404) 932-4347

 www.TerriThornton.com

www.mmmlaw.com

Office Market Shows Slight Improvement in Third Quarter

  

Michael Bull

 ATLANTA, GA (Oct. 22, 2012) – The third quarter marked another period of tepid improvement for the U.S. office real estate market, and the sector doesn’t appear ready to take off in the near future.

 The new episode of “America’s Commercial Real Estate Show” offered an enlightening look at the office sector’s recent performance. Show host Michael Bull and his panel of expert guests discussed a range of topics, including vacancy rates, investment sales, design trends and tenant concessions.

Ryan Severino

The national office vacancy rate declined ever so slightly in the third quarter, from 17.2 percent in the second quarter to 17.1 percent, said Ryan Severino, a senior economist with Reis. The third-quarter rate represents a 30-basis-point drop from the same period in 2011.

 National asking and effective rents both increased by 0.2 percent from the preceding quarter, and absorption rose from a positive 4.5million square feet in the second quarter to about 5 million square feet.

Sean Williams

 “With the labor market struggling, demand for office space unfortunately remains at very low levels,” Severino said. Still, even though the office market’s third-quarter performance was “not a spectacular result by any stretch of the imagination, at least we’re still trending in the right direction,” he added.

Office investment sales also appear to be slowing down, according to Severino. “It just seems like there’s a little bit of fatigue on the part of investors,” he said. “They’ve been investing in high-quality, trophy-caliber assets for the last few years, which is what has really beenbehind the downward trend in cap rates. But that’s only sustainable for so long without strong economic growth and improvement in the labor market.”

Steve Martin

Asked about the near future, Severino predicted “slow improvement” in rents and vacancy rates through the end of 2013.

Sean Williams, a vice president in Bull Realty’s Corporate Office Services Group, predicted that more distressed office properties would be available for purchase in the coming months and years. One reason, he said, “is the CMBS loan sector, which saw $6.4 billion in loans coming due in 2012 … In 2015, it’s expected to hit $11 billion.”

 Steven Martin, a managing principal with SDM Partners, said the gradual improvements mean the office market will soon no longer be one that completely favors tenants. “It’s still a tenants’ market, but that window is closing, and it will continue to close,” he said.

Bill Coons

Bill Coons, president of Facilitec, a workplace design firm, said tenants are leasing fewer square feet per employee and are designing more open, collaborative environments but cautioned against believing these changes are here to stay. “We’re in the early stages of some of these trends, and I think it remains to be seen how it plays out,” he said.

 The entire “U.S. Office Market Update” episode is available for download at www.CREshow.com.

 The next “America’s Commercial Real Estate Show” will be available on Oct. 25 and will detail the new “Emerging Trends in Real Estate 2013” report from the Urban Land Institute and PricewaterhouseCoopers.

 Contact:

Stephen Ursery

Wilbert Public Relations

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Colliers International Tapped to Market Largest Undeveloped Contiguous Commercial Land Parcel in Malibu

Chris Maling

 MALIBU, CA. (Oct.  22, 2012) Chris Maling and David Maling of The Maling Team with Colliers International have been tapped by Malibu Residential Housing Group, LTD to market for-sale the Wave Property, an investment opportunity consisting of approximately 9.2 acres of land located in the heart of downtown Malibu, in California.

The asset, which is offered at $14 million, is currently zoned as CC (Community Commercial), allowing for a wide variety of uses, including office, retail, restaurants, senior housing and storage. Additionally, this is the largest undeveloped contiguous commercial land parcel available in Malibu.

David Maling

This site will appeal to existing owners of coastal real estate in California, Oregon and Washington as well as entities that have been waiting for the right opportunity for irreplaceable real estate to develop senior housing or production facilities.

“Our marketing strategy involves leveraging the Colliers platform by targeting our existing client relationships locally, then regionally, then nationally and lastly our international outreach,” said Chris Maling, senior vice president/retail investments, with Colliers International. “We are receiving interest from investors in China and India as well as Sovereign Wealth Funds in the Middle East like the United Arab Emirates and Qatar.”

9.2-Acre Wave site, Malibu, CA

Chris Maling added: “This site is so rare and unique that I compare it to a quote from the author Mark Twain: ‘I rarely seized an opportunity until it ceased to be one.’"

The Wave Property is ideally located on La Paz Lane off of Civic Center Way and adjacent to the County Library and the Los Angeles County Courthouse, with close proximity to City Hall, several restaurants, a movie theater, shopping and the beach.

“Malibu is a unique and incomparable California city,” said David Maling, senior vice president/retail investments, with Colliers International. “There is a rare nugget of opportunity here for an investor to take advantage of an irreplaceable location for a development that can reflect the culture, aesthetics and needs of the local community.”

The selling entity is a partnership that is dissolving by court order and this asset in the portfolio must be sold.

Malibu, California is a beachfront city in northwest Los Angeles County. Malibu has 21 miles along the Pacific coastline. The community is famous for its warm, sandy beaches, and for being the home of many Hollywood movie stars and others associated with the entertainment industry.

The city is bounded by Topanga Canyon to the East, the Santa Monica Mountains consisting of Agoura Hills, Calabasas, and Woodland Hills to the North, the Pacific Ocean to the South, and Ventura County to the West. Malibu’s beaches include Surfrider Beach, Zuma Beach, Malibu State Beach, Topanga State Beach, Point Dume State Beach and Dan Blocker Beach.

Los Angeles County Courthouse

Most Malibu residents live within a few hundred yards of Pacific Coast Highway (State Route 1), which traverses the city, with some residents living up to a mile away from the beach up narrow canyons, and many more residents of the unincorporated canyon areas identifying Malibu as their hometown.

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

NAI Realvest Negotiates New Retail and Office Leases in Winter Park, FL and Oviedo, FL for Hair and Pool Designers

Mitch Heidrich

MAITLAND, Fla. – NAI Realvest recently negotiated two new leases – a retail lease in Winter Park for a hair designer and an office lease in Oviedo for a pool designer – totaling more than 3,800 square feet.

 NAI Realvest Associate Mitch Heidrich negotiated a new retail lease of 1,300 square feet at 400 South Orlando Ave., Suite 112 in Winter Park representing the local tenant, Catwalk Hair Design, Inc.     The landlord New England Courtyard LLC of Winter Park was represented by Trish Debell of Southeastern Realty.

At the same time Heidrich negotiated a lease agreement for 2,514 square feet on behalf of new tenant Advantage Pools & Spas, Inc., a local pool designer, at 348 W. SR 434 in Oviedo.  Scott Garrett of Results Real Estate Partners LLC represented the landlord DK Properties LLC in the transaction.

Contact:

 Mitch Heidrich, Associate NAI Realvest, 407-875-9989; mitchheidrich@realvest.com  

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

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

CoStar Group Leases Full Floor at Phipps Tower in Buckhead, GA

  

Phipps Tower, Buckhead, GA

 ATLANTA, GA – [Oct. 22, 2012] Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced it brokered the lease of 26,800 square feet of space at Phipps Tower at 3438 Peachtree Road in Atlanta for CoStar Group, Inc., the nation’s leading commercial real estate information, analytic and marketing services provider.

 Cassidy Turley’s Senior Managing Director Kirk Diamond, Managing Director Bradley Fulkerson and Associate April Hawkinson represented CoStar in the 11-year lease of a full floor at Phipps Tower, located in Atlanta’s premier Buckhead market.

The Class-A building’s central location on the Buckhead Loop gives tenants easy access to Atlanta's most important business areas.

Kirk Diamond

CoStar’s criteria for space included convenient access, prominent signage and proximity to amenities. With the help of Diamond, Fulkerson and Hawkinson, CoStar was able to secure all three criteria including a coveted spot on Phipps Tower’s new digital LED sign.

 “Cassidy Turley is honored to have worked with the world’s No.1 commercial real estate information, analytics and marketing provider,” said Diamond, who consistently ranks as one of Cassidy Turley’s top producers. “Phipps Tower provides CoStar with excellent space in Buckhead’s highly sought-after office market.”

 Contact:

Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

HFF arranges $92.6 million financing for luxury multi-housing community in, D.C.’s Mount Vernon Triangle

 

MassCourt Apartments, Washington, DC

 WASHINGTON, D.C. – HFF announced today that it has arranged $92.6 million in financing for MassCourt East End, a 371-unit luxury multi-housing community in the Mount Vernon Triangle neighborhood of Washington, D.C.

                HFF worked on behalf of the borrower, TIAA-CREF, to secure the 2.88 percent, fixed-rate loan through M&T Realty Capital Corporation (Fannie Mae).  Loan proceeds were used to acquire the property.

Kevin MacKenzie

MassCourt East End is located at 300 Massachusetts Avenue adjacent to Interstate 395 and within walking distance of three Metro-Rail stations (Judiciary Square, Gallery Place and Union Station).  

Completed in 2004, the 96 percent leased property has studio, one- and two-bedroom units averaging 836 square feet each.  Residents have access to a rooftop lounge with cabanas, yoga and aerobics studio, fitness center, clubroom, and rooftop pool and hot tub. 

An on-site parking garage provides parking for 309 vehicles.  MassCourt East End also features two ground-floor retail tenants, Spring-Glo Dry Cleaning and The Carving Room.

Cary Abod

The HFF team representing TIAA-CREF was led by senior managing director Kevin MacKenzie and managing director Cary Abod.

“This is a great case study on the type of financing that can be achieved through the right process, with strong sponsorship and high-quality assets,” said MacKenzie.

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $481 billion in assets under management (as of 6/30/12) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

Contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

Fitzrovia Apartments in London Wins Urban Land Institute Award

Fitzrovia Apartments, London, England

 LONDON, ENGLAND, Oct. 22, 2012 /PRNewswire/ --This morning Ridgeford Properties, the renowned London-based property company and Manhattan Loft Corporation won the ULI Global Award for Excellence at the prestigious 2012 Urban Land Institute Awards in Denver, Colorado.

Fitzrovia Apartments, an innovative project by Ridgeford Properties and Manhattan Loft Corporation, was selected as a winner from 29 global finalists displaying a broad mix of exemplary projects.

Christopher Murray

The ULI Global Award for Excellence honour the highest standards of achievement in the development community that go beyond good design. Many factors including leadership, contribution to the community and environmental protection are qualities deemed important by ULI when selecting winners of its award.

Located in the highly desirable W1 postcode and one of Ridgeford's many award-winning schemes, the Fitzrovia Apartments development raises the bar for property excellence and reinforces the allure of Marylebone and Fitzrovia villages.

Harry Handelsman

Working alongside the world's best designers and architects, including HOK International, Fitzrovia Apartments showcases immaculate detail and design. Striking features include a glazed reception area with double height ceilings that opens onto a courtyard with stunning landscaped gardens, providing tranquillity for residents away from the busy London streets.

The development comprises 70 apartments, the majority of which have already been sold, with 4 state of the art penthouses coming onto the market late 2012.

Chris Murray, Managing Director of Ridgeford Properties Ltd, said: "It's fantastic that Ridgeford Properties has been chosen as the winner of this global property award. We are extremely proud of Fitzrovia Apartments. The development demonstrates our ability to plan and execute innovative projects that outshine the international competition."

Harry Handelsman, CEO of Manhattan Loft Corporation, said: "Fitzrovia Apartments challenges conventions with its contemporary architecture and that the judges have recognized this is testimony to the combined achievements of Ridgeford and Manhattan Loft Corporation. With Fitzrovia Apartments we have helped to rediscover an area of London which looks set to become one of the capital's top neighborhoods."

The Fitzrovia Apartments development will be completed in December 2012. Visit

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

 Press Office:

Viv Jemmett,

+44(0)7929-565-349,

VJemmett@Bell-Pottinger.co.uk

http://www.manhattanloft.co.uk

http://www.ridgeford.com

http://www.fitzroviaapartments.co.uk

MBA Elects New Officers

Debra W. Still

Chicago, IL (Oct.  22, 2012) — The Mortgage Bankers Association (MBA) today announced the election of Debra W. Still, CMB, President and Chief Executive Officer of Pulte Mortgage LLC, as the 2013 Chairman of MBA at the association’s 99th Annual Convention & Expo in Chicago.

E.J. Burke

E. J. Burke, Executive Vice President and Group Head, KeyBank Real Estate Capital and Corporate Banking Services, was named Chairman-Elect of MBA, while Bill Cosgrove, CMB, President and CEO of Union National Mortgage Company, was named Vice Chairman.  All three officers will serve for the 2012-2013 membership year.

For full copies of all MBA news releases, please contact: 
    

Matt Robinson, (202) 557-2727                                     

John Mechem, (202) 557-2924  

1,050 New Condos Unsold From Boom In Greater Downtown Miami As Of Q3

Peter Zalewski

MIAMI, FL --Nearly five years after the South Florida condo crash first began, less than 1,050 new units created in Greater Downtown Miami during the last real estate boom remain under the control of the original developers as of the third quarter of 2012, according to a new report from CondoVultures.com.

New condo sales in Greater Downtown Miami transacted at a pace of less than 65 units per month between July and September of 2012 compared to about 100 units per month in the same period in 2011, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Miami™. 

Even with the slower pace, buyers purchased more than 180 units in Greater Downtown Miami for nearly $79 million - for an average price of less than $370 per square foot - between July and September of 2012, according to an analysis based on Miami-Dade County Clerk of the Court records.

Miami skyline

A contributing factor in the reduced new condo sales pace is the weakening foreign currencies of several countries from which international buyers are active in South Florida, including Argentina (-10%), Brazil (-14%), and Western Europe (-5%) on a year-over-year basis as of Oct. 18, 2012, according to the currency exchange website OANDA.com. 

"Foreign buyers inspired by wealth preservation, strong exchange rates, discounted prices, and strengthening rental rates have played a vital role in stabilizing the Greater Downtown Miami condo market," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

Biscayne Bay condominiums

"The situation in the Greater Downtown Miami condo market would have likely taken much longer to stabilize if not for the international involvement beginning in 2009. Even at the slower transaction velocity, Greater Downtown Miami's developer condo inventory from the last boom-and-bust cycle is on pace to sell out in late 2013."  

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

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.

George Smith Partners Arranges Financing for 113-Unit Multifamily Acquisition in Colorado Springs, CO

  

Fillmore Ridge Apartments, Colorado Springs, CO

 Colorado Springs, CO – Commercial real estate investment banking firm George Smith Partners has successfully arranged $3.965 million in financing on behalf of  its client, LocalConstruct, for the acquisition of  Fillmore Ridge Apartments, a 114-unit apartment community in Colorado Springs, according to Vice President Jonathan Lee. Lee was assisted by George Smith Partners analyst Shine Cheng.

Jonathan Lee

“One of the major challenges in achieving financing for this acquisition was the fact that our client was Los Angeles based, and had never purchased a multifamily property outside of California,” explained Lee.

“Fillmore Ridge presented an excellent investment opportunity in the Colorado Springs market, as the community has had consistent occupancy rates and was substantially renovated. Because our client was new to the local market our challenge was to find a lender willing to finance the acquisition without local investment history from our client.”

The non-recourse $3.965 million acquisition loan closed with an interest rate of 3.86 percent for 10 years, with a 30-year amortization and a yield maintenance prepayment.

Shine Cheng

Fillmore Ridge Apartments, situated on 4.5 acres in Colorado Springs, consists of studios, one-, two- and three-bedroom apartments.  The community recently underwent a substantial renovation, with more than $1 million invested in exterior and interior upgrades.

The property is located at 3210 North Chestnut Street in Colorado Springs, the second largest metropolitan area in Colorado, and is within El Paso County, which is the state’s most populated county. Due to its large population, El Paso is one of the best performing submarkets in the metro area, according to Lee.

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

Corynne Randel/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

Crandel@browermillercole.com

www.GSPartners.com

 .

The Easton Group Buys a Pair of Industrial Buildings Near Miami International Airport for Nearly $3 Million

Edward W. Easton

 Doral, FL -- An affiliate of The Easton Group has purchased two adjacent industrial buildings totaling 58, 954 square feet and signed a new five-year lease with the existing tenant, GA Telesis.  The property is located in Miami just east of Miami International Airport.

EWE Warehouse Investments East Airport, LLC paid $2.9 million, or $50 per square foot, for the buildings. The seller of the property located at 3939 NW 27th Street was David Janney Trustee Partnership and the seller of the property located at 3901 NW 27th Street was Service Container, LLC.

GA Telesis is involved in the marketing, sales and leasing of aircraft engines along with providing financing solutions to clients. The company has been for a while leasing 149,000 sf of space in another Easton property in Fort Lauderdale.  

Miami International Airport

While that serves as GA Telesis’  South Florida headquarters, the Miami location handles repairs of commercial aircraft components. 

“This deal was a win-win for all,” said Edward W. Easton, chairman of The Easton Group.  “We were able to meet a client’s needs by securing them a five-year lease with favorable terms, while at the same time providing a solid return for our investors. It’s a textbook example of the creativity and value we bring to a deal.”

Financing for the purchase was handled by Espirito Santo Bank. 

Contact:

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999

954-290-0810 (cell)

Diebold Signs Five-Year Lease Extension in Metro Orlando Office Park

  

SunTech Commerce Park, Lake Mary, FL

 ORLANDO, FL – Lincoln Property Company Southeast has brokered Diebold’s five-year renewal of its 7,319-square-foot lease in SunTech Commerce Park, a campus-style office park in Lake Mary, Fla. 

Jay Dixon, vice president, office, for Lincoln Property Co. Southeast, represented the landlord, and Grant Goodwiller of UGL Equis represented the tenant.

Jay Dixon

Diebold’s space is located in 43 Skyline, a three-story office building that is one of six buildings in the park; the other five are flex office properties. Diebold’s extension is set to expire at the end of 2017.

 “We continue to see increased activity in the metro Orlando office market, and Diebold’s extension is yet further evidence that the sector in central Florida is improving,” Dixon said. “SunTech is an outstanding property, and Diebold’s continued presence will benefit both the park and the surrounding area.”

 SunTech Commerce Park is located close to Interstate 4, highways 17 and 92, and state routes 417 and 434. Residential communities, retail, restaurants and hotels also are nearby. All of the buildings in the park feature security sprinklers, and tenants have 24-hour access to the buildings.

For More Information, Contact

Stephen Ursery

 Wilbert News Strategies LLC

404-965-5026

sursery@wnspr.com