Thursday, September 17, 2015

Lincoln Property Company Southeast Brokers $1.3 Million Office Building Sale in Northwest Atlanta


 
Jeff Henson
 ATLANTA, GA (Sept. 17, 2015) – Lincoln Property Company Southeast (Lincoln) has executed the $1.3 million sale of 2700 Delk Road, a 25,000-square-foot office building in Marietta, Georgia.

 Jeff Henson of Lincoln represented the seller, ECI Capital, Inc., in the transaction. The building was purchased by Aero Systems Engineering, a local engineering firm that was already based in Marietta that plans on occupying 40 percent of the building and leasing out the remainder.

“With the Atlanta office market thriving once again and rental rates continuing to rise, you are now seeing users that have historically leased space now considering buying their own building,” said Henson. 


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

Savannah Duncan
The Wilbert Group
404-343-0870

Lincoln Property Company Southeast Brokers $15.7 Million Sale of Regional Power Center in Metro Atlanta Suburb



Chip Sipple
ATLANTA, GA  – Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $15.7 million sale of Venture Pointe, a 335,151-square-foot power center located in Duluth, Georgia.

Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction, which took place through Auction.com. Angkawijana LLC purchased the property, which is anchored by Kohl’s, Big Lots and Golfsmith.

“Venture Pointe garnered significant interest from the investment community because of its strategic location and significant value-add potential,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. 

Located at 3960 Venture Blvd. in Duluth, the property benefits from its location at the Steve Reynolds Boulevard exit for I-85. Venture Pointe is strategically positioned within a significant retail corridor, located adjacent to PGA Superstore and Dave & Buster’s.

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

Savannah Duncan
The Wilbert Group
404-343-0870

ARC – Retail Centers of America and Lincoln Buy 512,871-SF Multi-Tenant Retail Development in Hoover, A for $83.5 million


 
Tony Bartlett
 ATLANTA, GA  – American Realty Capital - Retail Centers of America I & II, a publicly registered, non-traded REIT, with Lincoln Property Company Southeast (Lincoln), has acquired the 512,871-square-foot Patton Creek, a multi-tenant retail development located in Hoover, Alabama.

 Patton Creek Holdings, LLC, sold the property for $83.5 million.

Patton Creek includes 65.7 acres of open-air retail, featuring a vibrant mix of entertainment, dining and shop tenants. Dick’s Sporting Goods, Rave Motion Pictures, Ross Dress for Less, Cost Plus World Market, DSW, Barnes & Noble, buybuyBABY and Christmas Tree Shops anchor the center. 

The property was approximately 95 percent leased at the time of the sale.

American Realty Capital – Retail Centers of America I & II seeks to acquire existing anchored, stabilized, retail properties, including power centers, lifestyle centers, grocery-anchored shopping centers and other need-based shopping centers located in the United States. The REIT currently owns more than 25 properties across the country.

“The property’s enviable location and superior access to I-65 and I-459 establishes it as one of the most convenient shopping centers in Alabama,” said Tony Bartlett, senior vice president of Lincoln. “Well-tenanted centers in good locations in secondary and tertiary markets are providing strong returns for investors, and buyers have to be aggressive to secure these opportunities.”  

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

Savannah Duncan
The Wilbert Group
404-343-0870

Wednesday, September 16, 2015

Cooper Carry Names Five New Principals



Andrea Schaub
ATLANTA, GA (Sept. 15, 2015) – The internationally recognized design firm, Cooper Carry, recently named five new principals to further broaden the reach of its hospitality, interiors, K-12 education and corporate specialty practice groups.

The appointments demonstrate the company’s continued growth and the success of its senior leaders.

Manny Dominguez and Andrea Schaub were named principals in the hospitality specialty practice group, which is recognized as one of the top five hospitality practices in the nation.

The 1,175-key Marriott Marquis in Washington, D.C., the Douala Hilton in Cameroon, the Arlington Capital View Hotel, the Hilton Cleveland Convention Center Hotel slated to open in 2016 and The Sanctuary at Kiawah Island are just a few of Cooper Carry’s many projects around the world.

Dominguez has worked on projects such as the Sea Pines Resort’s Plantation Golf Club, which was recently named Clubhouse of the Year by Golf Inc. Magazine. 

Schaub, who has been with Cooper Carry since 2005, is known for her work on the Capitol Point Hyatt Place in Washington, D.C. and The Main Hotel and Conference Center in Norfolk, Virginia.


Kim Rousseau
Kim Rousseau, director of interior design, was named principal and currently leads the interior design of Park Center, where State Farm will be a lead tenant, promoting the most current workplace strategies in its design as a response to the influence Millennials are having on today’s office buildings.

In the K-12 education specialty practice group, Bob Just was named principal. In the recent past, Just has worked on several headliner projects including the 11-story North Atlanta High School, which garnered national attention for its adaptive reuse design of a 1970’s era corporate office building.

Bill Halter, director of corporate services, joined Cooper Carry in 2010 and has been named principal of the corporate specialty practice group.

Halter has led innovative office design efforts for projects such as Intergraph’s Huntsville-based corporate campus, where the workplace strategy led the client to boldly eliminate all private offices in exchange for a more collaborative, open concept plan.

Bill is currently leading the design team for Park Center with direct street and lobby access to an expanded Dunwoody, Georgia MARTA station.


Manny Dominguez
“We’re proud to recognize the hard work and accomplishments of these talented designers,” said Kevin Cantley, president and CEO of Cooper Carry.

“Their work will continue to shape the future of the built landscape and serve as a model for timeless design. These additions to our senior leadership team will help to ensure that the firm is solidly grounded for years to come.”

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

Hadley Creekmuir
The Wilbert Group
 404.343.4080

Bob Just
                                                                                     
Bill Halter
          


Arbor Funds $101M in Multifamily Deals Across South and Other Regions


Alex Kaushansky
UNIONDALE, NY (Sept. 15, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of 21 loans totaling $100,946,800 across Alabama, Texas, North Carolina, Florida, Georgia, South Carolina, Michigan and New York under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Multifamily Affordable Housing, Fannie Mae DUS Small Loan, Fannie Mae DUS ARM, Fannie Mae DUS Student Housing Loan, Freddie Mac Loan, Freddie Mac Small Balance Loan and Arbor Realty Trust's Bridge programs.

Alex Kaushansky, Vice President in Arbor’s New York City office, originated all of the loans.

“Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including the thriving multifamily markets found across the South,” Kaushansky said.

 “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.”

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

Christopher Ostrowski

Tuesday, September 15, 2015

Hotel Marketing Veteran Lovell Casiero Forms Revenue Enhancement Advisory Firm


Lovell Casiero
  New Freedom, PA , Sept. 15, 2015—Hotel sales and marketing veteran Lovell Casiero today announced the formation of FLC Business Consulting, Inc. (FLC), which will focus on hotel revenue enhancement.

The company will provide strategic and senior-level hotel sales and marketing expertise to hotel owners, REITS, private investment firms and management companies.

                “Typically, only the very largest hotel owners, investors, management companies and asset management firms have the cost structure and scale to have an on-staff, C-level executive to provide the strategic input for revenue enhancement and these organizations often seek an outside expert’s fresh perspective,” Casiero, FLC president, said.

“Most mid-size and smaller firms require that expertise only at particular times during the hotel ownership cycle. 

"There are numerous firms involved in revenue management, or putting ‘heads in beds,’ but less than a handful that specialize in ‘all’ things revenue related—the sales and marketing strategy, positioning, market analysis and planning required to capture and maximize the right mix of business. 

“Our firm is structured to supply the critical analysis, planning and experience required either on a short-term or retainer basis.”

                FLC will provide a full array of revenue analysis services, including due diligence for acquisition, troubleshooting, positioning, oversight of brand conversion, business plan preparation, market analysis, sales and marketing staff evaluation, sales training and other critical services related to improving hotel profitability by driving the top line. 

 In addition, the firm has a network of experienced suppliers, ranging from website design to revenue management programs, branding, and public relations.  FLC has in-depth relations with all the premier brand families including Hilton, Starwood, Marriott, IHG and Choice.

Casiero’s 25-plus years of hospitality sales and marketing background includes oversight of all aspects of revenue enhancement, direct sales, marketing, PR, revenue management, digital marketing and global sales.   She previously was executive vice president of sales & marketing for Crescent Hotels & Resorts.   

Casiero also held senior level sales and marketing positions with Interstate Hotels & Resorts and HEI Hotels & Resorts.  

Prior to entering the hotel industry, she was president of the Christian Correspondence Church and was founder of Caribbean Missions, a philanthropic organization providing aid to Haiti, Jamaica and other Caribbean Islands.

                Casiero is a member of the advisory boards of Starwood Hotels & Resorts Sales & Marketing and HSMAI Sales & Marketing.  She is a former member of the Interstate Hotels & Resorts Food & Beverage Board, the Hellenic Center Board, the Benice Agency, and the Lovejoy Agency.

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

Chris Daly                                                                            
Daly Gray, Inc.                                                                  
(703) 435-6293                                                                  
              

703-722-8126

Cottage Living Midwest Style in Chicago Area



Somerset Townhomes, Lake Zurich, IL

CHICAGO (Sept. 15, 2015) — From charming front porches to enchanting surroundings, there is so much to love about cottage-style homes. And, whether looking for a single-family home, townhome or vacation home, here are three different ways Chicagoans can experience the quaint and cozy attributes of cottage-style living year-round.

A Refreshing Alternative To Sprawling Subdivisions

When KZF Development looked to create Timber’s Edge, a low-maintenance community of 21 single-family homes at 3895 Dundee Road,  in Northbrook, Illinois, the developer wanted to make sure the community provided a refreshing alternative to the typical sprawling subdivisions found in the popular Chicago suburb.

 Once completed, Timber’s Edge will reflect a coastal-style design that is pedestrian friendly with front porches, paved walkways and a centrally located 10,000-square-foot community green with benches, pergolas and a fountain.

“We wanted to develop something unique to the area, something that resembled Michigan lakeside communities with home designs that foster a more intimate and neighborly atmosphere,” said Steve Friedman of KZF Development. “Timber’s Edge is designed as an interactive neighborhood where walkways and landscaped seating areas connect homes and residents.”


Peter Brennan
 Beachside Living In The Midwest

 For those who dream of living in a cottage-style home within walking distance to town and a beach, Somerset Townhomes in Lake Zurich, Illinois, offers the best of both worlds.

Located on West Main Street between Lakeview Place and Old Rand Road, Somerset provides a maintenance-free, lakeside lifestyle within walking distance to Breezewald Park Beach, which includes a playground and beach access, and is just steps from numerous restaurants and shops in downtown Lake Zurich.

 “All homes include quaint front porches centered on a courtyard complete with mature landscaping, a small pond, waterfall and seating area providing a coastal charm,” said Peter Brennan, president of Foxford Communities.

“Even better, most homes include views of the sparkling blue waters of Lake Zurich. You can’t beat the fact that Somerset offers affordable lakeside cottage living in a convenient walkable location.”

For more information on Somerset, contact Jeff Ohm at 847-821-9090 or johm@prg123.com.


Tammy Barry


A Vacation Home With A Modern Take On Cottage Design

Cottage-style homes also have special appeal to those in the market for a vacation residence according to Tammy Barry, director of sales and marketing for Heritage Harbor Ottawa Resort, a marina resort community along the Illinois River in Starved Rock Country.

 “Buyers purchasing a second home typically want something that’s low-maintenance and ‘just right’ in terms of space, so the smaller footprint and efficient layout of a cottage is perfect for them,” said Barry.

 “Our homes at Heritage Harbor are very much a modern take on cottage design, and we dedicate the most space to the features we know are most important to vacation home owners – namely, open living space where friends and family can gather, and large bedrooms that can easily accommodate guests.”

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

Kim Manning at kmanning@taylorjohnson.com, 312.267.4527.
Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519



SVN | Chicago Commercial Brokers 27,000-Square-Foot Lease in Suburban Hoffman Estates for Northwest Health Care Associates


 
Albert M. LIndeman
CHICAGO, IL (Sept. 15,  2015) - SVN | Chicago Commercial announced the signing of a 27,000-square-foot long-term lease at 2359 Hassell Road in Northwest suburban Hoffman Estates, Illinois, for Northwest Health Care Associates, a suburban Chicago-based multispecialty practice with 30 physicians.

Albert M. Lindeman, senior vice president of SVN | Chicago Commercial, represented the building’s owner, Chicago-based Caruso Development.

Northwest Health Care Associates, which has practiced for more than 35 years from the campus of nearby St. Alexius Medical Center, will occupy a one-story, new-construction medical office building in Blackberry Falls Office Campus, a new campus adjacent to Barrington Town Center. Construction on the new office building began last week.

“This well-located, build-to-suit development offered potential tenants a perfect opportunity to benefit from high-quality, energy efficient new construction; flexible, customizable design; and unmatched access retails amenities and major area expressways and thoroughfares,” said Lindeman.

 “The new location also will allow Northwest Health Care Associates to expand its footprint to accommodate future growth and do so in a cost effective manner.”

Blackberry Falls Office Campus is situated on a 4.64-acre campus, complete with a gazebo, waterfall and pond. The 27,000 square foot medical office building is the last building to be built at the office campus.

Terri Kraft
“We’ve enjoyed significant growth over the years, not only in patient volumes, but also in the number of physicians and staff we employ. As we look ahead, the growth projection continues and we need a space that can accommodate that,” said Terri Kraft, executive director of Northwest Health Care Associates.

“It was of the utmost importance that, with this move, we give our patients the same or better access to their health care providers, and a single story office with front door parking, which is particularly important for our elderly patients.

“Moving off the St. Alexius campus gives us the opportunity to keep our total costs similar to current levels, while creating a custom-designed space that accommodates the needs of our physicians and patients, all within close proximity to the hospital,” Kraft added.

Located at the intersection of Interstate 90 and Barrington Road, approximately 30 miles from downtown Chicago, the new office campus is easily accessible from major area thoroughfares and offers patients convenient access to the practice.


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

Cara Mooses at cmooses@taylorjohnson.com, 312.267.4523
Kim Manning at kmanning@taylorjohnson.com, 312.267.4527.


www.svnchicago.com, 312.676.1866

Monday, September 14, 2015

Meta Housing Corp. Completes $20.3 Million Transit-Oriented Development in Compton, CA


Metro@Compton Senior Apartments, 302 North Tamarind Avenue, Compton, CA

Kasey Burke
COMPTON, CA (Sept. 14, 2015) – Meta Housing Corporation has announced the completion of Metro @ Compton Senior Apartments, a $20.3 million, transit-oriented, 75-unit affordable housing development available to seniors aged 55+ in Compton, California.

“There continues to be a tremendous need for affordable housing developments in close proximity to public transportation, especially in urban areas,” says Kasey Burke, President of Meta Housing Corporation.

“The Metro @ Compton development transformed a blighted, underutilized vacant lot into 75 high-quality affordable apartment units within walking distance to Compton’s Metro Blue Line light rail and bus station.”

The Metro @ Compton Senior Apartment community was developed by Meta Housing in partnership with Western Community Housing. The community was designed by Y&M Architects, constructed by Optimus Construction Inc. under the supervision of construction manager KKG, Inc.  The property is managed by WSH Management.

Located at 302 N. Tamarind Avenue in the City of Compton, the apartment community is comprised of one- and two-bedroom floor plans.

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

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940



Sale of Galleria Place in Houston, TX closed by HFF


Galleria Place, 5251 and 5333 Westheimer, Houston, TX

 
Dan Miller
 HOUSTON, TX – Sept. 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Galleria Place, two Class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston, Texas.

HFF marketed the property on behalf of the seller, The Carlyle Group and Songy Highroads LLC.  Lincoln Property Company purchased the asset for an undisclosed amount.  HFF is also engaged to arrange financing for the buyer. 

Galleria Place consists of Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces.

  Galleria Place is 53 percent leased to tenants including Just Energy and HIS.  The properties occupy six acres bounded by Sage and Westheimer Roads and West Alabama Street directly across from the Houston Galleria, Houston’s premier destination for shopping and dining. 

The HFF investment sales team was led by senior managing director Dan Miller and director Martin Hogan.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


Taylor Johnson Now Represents the Chicago/Midwest Office of KTGY Architecture + Planning


Emily Johnson
CHICAGO, IL – Taylor Johnson President Emily Johnson announced Taylor Johnson now represents the Chicago/Midwest office of California-based KTGY Architecture + Planning, a national award-winning firm providing comprehensive planning and architectural design services for residential communities, retail, commercial, healthcare, civic, hospitality, mixed-use and related specialty developments.

 KTGY’s new Chicago studio was established through its merger with Glen Ellyn-based PPK Architects, a premier architectural firm with a 65-year history in designing commercial and residential projects throughout Chicago and the Midwest.

The Chicago office will be headed by former PPK leadership and veteran designers, Craig R. Pryde, AIA, LEED AP, and David M. Kennedy, AIA, LEED AP, who will both serve as principals at KTGY.

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

Julie Liedtke
Taylor Johnson
(312) 267-4521

Marcus & Millichap Brokers $2 Million Sale of 47 Units at The Hamptons at Brandon in Brandon, FL

                                       

Casey Babb
BRANDON, FL,  Sept. 14, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 47 units within The Hamptons at Brandon, an apartment community located in Brandon, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $2,050,000.

Casey Babb, CCIM and vice president investments, Luis Baez, senior associate, and Armando Rodriguez, associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer.  The buyer, a private investor, was secured and represented by Babb and Baez. 

The Hamptons at Brandon is a 1980s vintage condominium community located at 609 Golden Raintree Place in Brandon, Florida.

The sale included 47 of 204 units that have been operating as rentals for the past nine years. The units are spread throughout the community which consists of 23 two-story buildings and two common area buildings housing the office, a clubhouse, laundry facilities and swimming pool areas.

Luis Baez
The units feature large, open floor plans, private patios, fully equipped kitchens with dishwashers and wash/dryer connections in roughly half of the units.

“The Hamptons at Brandon was a difficult transaction since it was a bulk-condo sale of a non-controlling interest and a short-sale,” says Baez.

“Our marketing campaign produced five offers including some with no contingencies, and by forming a market for the asset we were able to work with the lender to reach a workable settlement and help our client get out of the deal.”


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


Richard D. Matricaria
Vice President/Regional Manager
Tampa. FL

(813) 387-4700

Sunday, September 13, 2015

Marcus & Millichap Arranges Sale of 11,065-sf Shopping plaza in Miami, FL for $3.35 million


Douglas K. Mandel
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Colonial Shopping Plaza, an 11,065-square foot shopping center located in Miami. The asset sold for $3,350,000 equating to $303 per square foot.

Douglas K. Mandel, a senior vice president investments, Benjamin H. Silver, a vice president investments, and Richard Niewiadomski, an associate, all in Marcus & Millichap’s Ft. Lauderdale office, represented the seller, a limited liability company from Miami Lakes, Fla., and the buyer, a private investor from Miami.

“Although Colonial Shopping Plaza is located one block west from South Dixie Highway, it has full visibility from one of South Florida’s major north and south retail corridors. 

"The buyer, a private investor from Miami, identified this property as part of a 1031 exchange for its location and long history of high occupancy,” said Richard Niewiadomski.

Constructed in 1988, the retail center is 100 percent leased to eight long-term, local and regional tenants including Amscot Financial, Little Caesars and Cricket Wireless. 

The property has tremendous visibility from South Dixie Highway with over 65,000 vehicles passing per day. It is directly across the street from Colonial Shopping Center, a Publix-anchored center that includes tenants such as Game Stop, Subway, RadioShack and Advance America.

Colonial Shopping Plaza is located at 9477-9493 SW 160th Street in Miami.

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

Ryan Nee
Regional Manager,
Fort Lauderdale, FL

(954) 245-3400

CBRE Closes $45 Million Sale of Orlando, FL Apartment Community

  
Island Club Apartments, 1401 South Kirkman Road,
 Orlando, FL
Orlando, FL – CBRE Investment Properties arranged the sale of Island Club, a 472-unit gated apartment community in Orlando, Florida, at the epicenter of one of Central Florida’s highest demand submarkets.

The asset at 1401 S Kirkman Rd. was acquired from an affiliate of Harbor Group International by the Michaelson Group for $45 million. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill provided exclusive representation to the seller in the transaction.

“Island Club generated strong interest from value-add investors seeking rental upside in this high-demand submarket,” said Mr. Granade, Vice Chairman, CBRE Capital Markets, Multifamily.

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

Elizabeth Cross Daniel Jimenez
+1 305 428 6373 +1 407 839 3191

St. George Guardabassi of Berger Commercial Realty Brokers $1.6 Million Sale of Waterfront Property in Dania Beach, FL


St. George Guardabassi
FORT LAUDERDALE, FL --  St. George Guardabassi of Berger Commercial Realty recently closed the $1.6 million sale of a waterfront property located at 685 Gulfstream Road in Dania Beach.

Guardabassi represented Gary G. Wilkins in the sale of the 38,000-square-foot lot to 685 Gulfstream Road, LLC. The buyer intends to use the property for large yacht dockage.

Located within a superyacht repair area near Harbor Towne Marina, the property has 200 feet of deep-water frontage along the Dania Cutoff Canal with open access to the Atlantic Ocean.

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

954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com