Saturday, July 30, 2016

HFF secures acquisition loan for 5-property Chicago-area industrial portfolio

  
Christopher Carroll
CHICAGO, IL –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured acquisition financing for a five-property, fully-occupied industrial portfolio totaling 1.41 million square feet in the Chicago area.

HFF worked on behalf of the borrower, Transwestern Investment Group, to place the five-year, fixed-rate loan with a life company. The portfolio was acquired by TSP Value and Income Fund, Transwestern Investment Group’s discretionary value-add vehicle.  

The portfolio properties are: 3800 Sunset Avenue in Waukegan; 301-363 North Third Avenue in Des Plaines; 5300 Proviso Drive in Melrose Park; 7400 Richards Road in Bridgeview and 5100 West 123rd Street in Alsip. 

The properties have clear heights ranging from 21’ to 30’ and all have some percentage of office finish.  The portfolio is home to eight tenants, including Dulin Metals Co; Permasteelisa North America; Midland Paper Company; Keystone Automotive Industries and Cornfields, Inc.

 The properties are located just off major thoroughfares, including Interstates 294 and 94, providing access to the greater Chicago area, the Midwest and beyond.

The HFF debt placement team representing the borrower was led by managing director Christopher Carroll and senior managing director Brian Carlton.

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

Kristen M. Murphy
Director, Marketing
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


  

HFF secures $66 million refinancing for Los Angeles-area power center

  
Plaza 183, 11101-11263 183rd Street and 17970 Studebaker Road, Cerritos, CA

Paul Brindley
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $66 million refinancing for Plaza 183, a 360,875-square-foot, open-air, destination retail center in the Los Angeles-area community of Cerritos, California.

HFF worked on behalf of the borrower, Cerritos Retail CenterCal LLC, to secure the 10-year, fixed-rate loan with Principal Life Insurance Company.  

Principal Real Estate Investors advised the lender in the transaction.  Loan proceeds are being used to refinance the original acquisition/renovation financing.

Plaza 183 began an extensive renovation in 2014, most of which was completed in 2015 with more renovation planned to commence this year.

  Currently more than 97 percent leased, the 11-building power center is home to national tenants, including Burlington Coat Factory, Nordstrom Rack, Saks Off Fifth, T.J. Maxx, Buffalo Wild Wings, Guitar Center, Olive Garden, Old Navy, Off Broadway, Jersey Mike’s, Lane Bryant, Burlington Coat Factory and 24-hour Fitness.

 Located at 11101-11263 183rd Street and 17970 Studebaker Road, the destination center is in an infill location in the heart of Cerritos, a community midway between downtown Los Angeles and the business centers of Irvine, Santa Ana and Anaheim, just off the 605 Freeway and two blocks south of Highway 90. Plaza 183 is exposed to more than 244,000 vehicles per day due to its frontage along the 605 Freeway.

The HFF debt placement team representing the borrower was led by Paul Brindley,  Eric Tupler and Steven Paskover.


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

Kristen M. Murphy
Director, Marketing
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



WNC provided about $6.1 million in LIHTC equity to fund construction of 144-Unit Cypress Springs Affordable Senior Housing Community in Baton Rouge, La


Michael Gaber
BATON ROUGE, LA – WNC, a national investor in real estate and community development initiatives, announced the completion of Cypress Springs, a new 144-unit affordable senior housing community in Baton Rouge, La. 

WNC provided approximately $6.1 million in low-income housing tax credit (LIHTC) equity to fund the development.

Located at 8200 Cypress Road, Cypress Springs includes three buildings comprised of 76 one-bedroom units and 68 two-bedroom units. 

The property’s amenities include a fitness center, central laundry facility, activity room/clubhouse, computer center, tenant storage area, sauna and picnic area.

The community also offers onsite management and support services. Each unit is equipped with intercom entry, central air conditioning, kitchen appliances and a ceiling fan. The property has 159 parking spaces.

Cypress Springs was developed by Community Development Inc. The project developer was C. Fred Cornforth.

“Cypress Springs is an excellent property offering new, well-constructed housing to the Baton Rouge senior community,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber.

“WNC is proud to be a partner in Cypress Springs and to help deliver additional affordable senior housing to the people of Baton Rouge and to a nation in dire need of quality affordable housing.”

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

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703


Stos Partners Acquires High-End Mixed-Use Asset in San Diego County’s Carlsbad Village, CA


Carlsbad Village, San Diego County, CA

CJ Stos
SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, has acquired a 22,000 square-foot mixed-use property comprised of retail, restaurant, creative office and residential space in the heart of San Diego County’s Carlsbad Village submarket.

The property, which is 90 percent leased, is occupied by award-winning local restaurant and wine bar PAON, as well as a variety of retail and office tenants.

“This project has the best of everything - coastal location, high-end, urban design and construction, strong tenants, and a small amount of space we can lease to immediately increase value,” says CJ Stos, Principal of Stos Partners.

 “Our focus is to acquire properties in coastal California markets and increase value through strategic management and leasing. This asset features cutting edge retail and office space that is attractive to local companies seeking a live/work/play beach lifestyle.”

The property, which was completed in 2008, features a host of desirable amenities, including office suites with concrete floors and exposed HVAC as well as a 2,000 square-foot community deck with panoramic views.

“This is a beach town, and this asset is at the heart of all that is happening here,” says Stos.  “We are confident in the San Diego market as a whole, and see submarkets such as Carlsbad and Oceanside becoming increasingly attractive to professionals, residents and tourists as a less expensive alternative to more premium submarkets such as Encinitas and Del Mar.”

Jason Richards
Stos expects this migration to less expensive coastal areas to continue, and anticipates increased tenant and consumer demand throughout the California coast over the long term.

The property’s creative office space tenants include HighJump, a national tech company, as well as an alternative health company which Stos Partners brought to the project during escrow.

The three-story mixed-use asset also includes two residential penthouses with coastal views, providing an added opportunity for value creation, according to Jason Richards, a Partner at Stos Partners who was integral in this acquisition.

“These are single-story living, urban, penthouse-style condos with ocean views and private two-car garages, which is simply unheard of in Carlsbad Village,” says Richards.  “Based on the tremendous demand for coastal homes, the asset provides flexibility to either sell the condos individually, or to rent them, adding to the value of the asset as a whole.”

Richards notes that Stos Partners plans to implement exterior improvements to the property, including new paint and maintenance upgrades.

The property fronts two streets in Carlsbad Village, and is located at 560 Carlsbad Village Drive and at 2975 Roosevelt Street.

Barry Hendler of Cushman & Wakefield represented Stos Partners as the buyer in the $6 million acquisition.  The seller, a private company, was also represented by Hendler.

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

Devin Ugland / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
        

Cohen Commercial Realty Signs Donohue Real Estate In New North Palm Beach, FL Lease Transaction


Bryan S. Cohen
North Palm Beach, FL  Bryan S. Cohen, Will Soled and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of Donohue Real Estate to lease a 1,300-square-foot space at Shoppes at City Centre located at 11241 U.S. Highway One in North Palm Beach.

  They join Doris Italian Market and Bakery, West Marine, Carrabba's, and more.  Cohen Commercial represents the landlord in this transaction.

Daycare Group Leases 10,000 SF in Palm Springs, FL

PALM SPRINGS, FL  —Bryan S. Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., announced today the signing of A Place For You Adult Daycare to lease a 10,000-square-foot space at located at 3678 S Congress Ave in Palm Springs, Florida.  Cohen Commercial represents the landlord in this transaction.

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

Donna Cordes
Cohen Commercial Realty, Inc.
561.471.0212 Office
561.471.5905 Fax



Pordes Residential Releases Final 100 Units for Sale at Veer Towers in Las Vegas, NV


Veer Towers,Within City Center, Las Vegas, NV

LAS VEGAS, NV — Pordes Residential Sales and Marketing has just released the final 100 units for sale at Veer Towers, the two-tower luxury condominium project located in the heart of CityCenter.  More than 330 units have been sold in the last three years which means only 14 percent of the units remain.

Darwin Dizon
“Veer Towers is the only all-residential building on the Las Vegas Strip,” said Darwin Dizon, Director of Sales.  “No new residential projects have been announced which means our remaining inventory is the last chance for buyers to own at one of the most famous addresses in the world.”

Prices at Veer Towers range from $265,000 to $2,000,000. Buyers have the option to purchase fully-furnished turn-key model residences.

In addition to studios, executive one-bedrooms, one-bedrooms and two-bedrooms, Pordes Residential has just released a unique combo residence on the 12th floor of the west tower. 

The custom made three-bedroom, three-bathroom residence offers 270-degree views of the city and the Strip.

 The one of a kind unit offers over 1,800 square feet of living space, comes fully furnished and is listed for $1.4 million.  The company also has one remaining penthouse boasting 2,014 square feet, a double master bedroom layout and two and a half spa-like bathrooms.  In addition, the unit has 20 foot ceilings and floor to ceiling windows. The penthouse is priced at $1.9 million.

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

Ilana Tescher
Account Executive
 BoardroomPR
itescher@boardroompr.com
O 954-370-8999
C 954-249-1816
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

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Berger Commercial Realty Secures Nearly 22,000 Square-Feet in Lease Transactions for Landlords Across Broward County, FL


Stephanie Bernota


FORT LAUDERDALE, FL - Berger Commercial Realty brokers recently secured 21,965 square-feet in leases transactions for landlords across Broward County.

Keith Graves
Parkway Professional Building

At the Parkway Professional Building in Miramar, Sales Associate Stephanie Bernota represented Dew Seven, LLC in securing the lease renewal for 4,825 square-feet of office space to American Financial Life, Inc. in suite 325;

a new lease for 1,874 square-feet of office space to Legal Gopher Document Retrievers in suite 110;

and the lease renewal for 437 square-feet of office space to Riddims Marketing, Inc. in suites 108 and 109.

Located at 6151 Miramar Parkway, the 40,858-square-foot Parkway Professional Building offers ample parking, a modern courtyard, a keypad entry system, and office suites ranging in size from 204 square-feet to 3,300 square-feet. It is situated on a 2.37-acre lot just west of State Road 7 on Miramar Parkway.

Sample Executive Center

Senior Vice President Keith Graves and Senior Sales Associate Jonathan Thiel represented Sample Executive Center, LLC in leasing 4,221 square-feet of space to Mo Management, LLC at the Sample Executive Center, located at 2001 W. Sample Road in Deerfield Beach.

Cypress Creek Executive Court

Along with Senior Vice President Joe Byrnes, Thiel also represented Rising Tide Development, LLC in facilitating the lease expansion for 4,000 square-feet of office space to Chem USA, LLC at Cypress Creek Executive Court, located at 2700 W. Cypress Creek Road.

Jonathan Thiel
Cypress Creek Business Park

Byrnes and Thiel also represented Rising Tide Development in renewing a lease for 1,950 square-feet of flex space to Destination Hope, Inc. at Cypress Creek Business Park, located at 6555 N. Powerline Road.

Prospect Park I

On behalf AKF3 SF Light Industrial, LLC, Byrnes, Graves and Thiel extended a lease for 3,047 square-feet of office space to American Creative, Inc. in Prospect Park I, located at 5241 N.W. 33rd Avenue in Fort Lauderdale.

Prospect Park II

At Prospect Park II, Byrnes, Graves and Thiel represented AKF3 in leasing 1,611 square-feet of flex space to SBC Intercontinental, Inc. at 3439 N.W. 55th Street and 1,056 square-feet of office space to Advantage Networking, Inc. at 3339 N.W. 55th Street in Fort Lauderdale.

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

Friday, July 29, 2016

HFF closes sale of Parsippany, NJ office building


600 Parsippany Road Office Building, Parsippany, NJ

Stephen Simonelli
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of an approximately 100,000-square-foot office building located at 600 Parsippany Road in Parsippany, New Jersey.

HFF marketed the property on behalf of the seller, Mack-Cali Realty Corporation.  A joint venture between Bukiet Building Management and Mountain Development Corp. purchased the asset free and clear of existing debt.

600 Parsippany Road is situated just off exit 40 of Interstate 287 at the four-way interchange with Parsippany Road.  The property is less than two miles from Interstates 80 and 280 and Routes 24, 46, 10 and 202, and less than 30 miles from New York City.  

The three-story, black glass building is 92 percent leased to notable tenants, including Aerotek; Level 3 Communications; Sonneborn; Certified Financial Services; Inglesino, Webster, Wyciskala & Taylor, LLC; Property Title Group, LLC and Dewberry.  

The building features a newly-renovated lobby with stone and tile flooring and a full-service café on the top floor.

Michael Oliver
The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and associate director Marc Duval.

“600 Parsippany road is a quality asset located within the prime Morris County office market,” Cruz said.  “The property provides the new owners with stable cash flow given its current occupancy and the potential upside given leasing the remaining space at higher rents.”

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

Kristen M. Murphy
Director, Marketing
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



HFF closes $30.5 million sale of Gateway Center in Charlotte’s central business district


Gateway Center, 901 West Trade Street, Downtown Charlotte, NC

 
Ryan Clutter
CHARLOTTE, NC – July 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30.5 million sale of Gateway Center, a 10-story, 310,745-square-foot, multi-tenant office building in Charlotte’s central business district.

HFF represented the seller, KBS Real Estate Investment Trust, Inc., in the sale of the property to an undisclosed purchaser. 

Gateway Center is located at 901 West Trade Street between West Fourth and Trade Streets in the heart of downtown Charlotte.  This location is close to Bank of America Stadium, home to the NFL Carolina Panthers; Time Warner Cable Arena; BB&T Ballpark; Levine Center for the Arts and numerous dining and retail options.

 The transit-oriented property is within walking distance of the Greyhound and Light Rail stations and has easy access to Interstates 277, 77 and 85.  Bank of America and Johnson & Wales University are two of the tenants at the 90-percent-leased property, which features a sundries shop and a 149-space, below-grade parking facility.

Scot Humphrey
  A 1.622-acre parcel, currently used as a 29-space surface lot, was also part of the sale.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, managing director Ralph Smalley, and associate director Christopher Lingerfelt.

“We received tremendous interest in the Gateway Center offering further demonstrating the appeal and national attention Charlotte and the Carolinas are receiving from institutional investors,” commented Clutter.

 “Well-located, urban assets that offer notable upside potential for investors are currently in high demand and we believe this pattern is poised to continue for the foreseeable future.” 

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

Kristen M. Murphy
Director, Marketing
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

HFF closes sale and arranges financing for Plaza at Solana mixed-use development in Westlake, TX


Plaza at Solana, Westlake, TX

 DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Plaza at Solana, a three-building office and retail mixed-use development in the suburban Dallas community of Westlake, northwest of Dallas/Fort Worth International Airport.

HFF marketed the property on behalf of the seller, Equity Office.  Harbert Management Corporation purchased the asset for an undisclosed amount.  Additionally, HFF worked on behalf of the new owner to secure the five-year, fixed-rate acquisition loan with one two-year extension through LegacyTexas Bank. 

Dallas-Fort Worth International Airport
Plaza at Solana is positioned at 1301 Solana Boulevard within Solana Business Park, a mixed-use business park featuring offices, a Marriott hotel, Larry North Fitness Club, retail, restaurants and jogging trails.

 The asset’s location at the intersection of Solana Boulevard and State Highway 114 allows for access to the entire north Texas region via State Highway 114, U.S. Route 377 and Interstate 35. 

The property is proximate to Dallas/Fort Worth International Airport, Southlake Town Square and three of Dallas-Fort Worth’s top-four suburbs.  The buildings total 359,873 square feet and are leased to a variety of tenants, including Wells Fargo, Verizon Wireless, Audatex, Echo Locum Tenens, Pfizer, Western & Southern Life Insurance Company and Midwest Hospitality.


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

Kristen M. Murphy
Director, Marketing
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


Passco Cos. Acquires 236-Unit Class AA Multifamily Asset in Louisville, KY MSA for $50.4 Million


The Veranda Apartments at Norton Commons, Prospect, KY

Colin Gillis
LOUISVILLE, KY – Passco Companies, LLC has acquired The Veranda, a 236-unit multifamily community in the highly sought-after Norton Commons master-planned community in Prospect, Kentucky, a growing submarket of the Louisville MSA, for $50.4 million.

 “The Veranda at Norton Commons is the only ultra-luxury rental option within one of the best-executed master planned communities in the Southeast,” explains Colin Gillis, Vice President, Acquisitions - Southeast at Passco Companies. 

“Norton Commons is the embodiment of a high-quality lifestyle destination, with unrivaled walkability to employment, boutique retail, dining, entertainment and recreation.” 

The Louisville MSA is experiencing rapid economic growth, resulting in strong demand for multifamily product throughout the region, according to Gillis.

“The demographic profile at The Veranda is one of the most impressive we have ever seen,” he says.  “The region continues to demonstrate strong employment growth, high average income levels, and a highly educated workforce.  Market fundamentals are extremely strong, and will drive continued demand for the asset over time.”

            Gillis notes that job gains in the Louisville MSA far exceed multifamily deliveries. Approximately 8,500 new jobs have been added year-over-year, while only approximately 1,000 new multifamily units are being constructed each year. Further, the unemployment rate in Louisville is 4.6 percent, which is well below the national average of 5.5 percent. 


Mike Kemether
  “The median household income within a one-mile radius of the area is $115,000, a number that is consistent with the income levels seen at the property,” says Gillis. 

“In addition, rising construction costs, expensive nuances that accompany developing within Norton Commons, and land prices exceeding $1 million per acre will make the addition of new rental units extremely difficult. 

“This provides Passco with a competitive advantage over any new future development in Louisville for many years to come.”

Mike Kemether in Cushman & Wakefield’s Atlanta office adds, “The Veranda at Norton Commons is a unique project, strategically positioned as the only apartment component within the Norton Commons master planned community.”

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

Devin Ugland / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940
  
@CushWake on Twitter.

Walmart breaks ground on new Supercenter at Metrocenter Mall in Northwest Phoenix, AZ

  





Thelda Williams
PHOENIX, AZ – The next chapter has begun in the grand history of Metrocenter Mall.

Officials with Walmart, the City of Phoenix and Carlyle Development Group – along with area business leaders – were on hand to conduct a ceremonial groundbreaking for a new Walmart Supercenter. The project represents the single largest capital investment in Metrocenter Mall in decades.

“Metrocenter Mall is a Phoenix icon that has served shoppers in this community for decades,” said Phoenix City Councilwoman Thelda Williams

“Together, this Walmart and City Council’s recent approval of a new development plan for Metrocenter symbolize re-investment and rebirth for this critical community asset.”

Construction begins immediately on the approximately 148,000-square-foot store on the south side of Metrocenter Mall, near I-17 and Dunlap. 

The Supercenter will take shape on the site of the former Broadway building, which was recently demolished and had been vacant since 2006. The Walmart is slated to open in Spring 2017.

“Those of us at Walmart are excited this project will both help us serve our customers better while playing an important role in the continued revitalization in the Phoenix landmark that is Metrocenter Mall,” said Paula Ginnett, a Walmart Vice President and Regional General Manager. 

“This site is going to be buzzing with shoppers next year, and that’s a great thing – for the City of Phoenix, area businesses and Metrocenter Mall.”

Paula Ginnett
Metrocenter Mall opened in 1973 as the biggest shopping center in Arizona and one of the largest nationwide. Recent years saw Metrocenter challenged by the establishment of competing regional malls, changing shopping patterns and the Great Recession.

 Now, Metrocenter Mall owner Carlyle Development Group, the City of Phoenix and community leaders are intent on bringing new life to the area.

In June, the Phoenix City Council unanimously approved a Planned United Development (PUD) application for 130 acres in and around Metrocenter Mall. The new zoning allows for multiple new uses, including office, senior housing, multifamily housing and healthcare. It also provides for increased height and density at the infill site.



"Even in our early planning, the name 'Walmart' would come up regularly as a great fit for a mixed-use Metrocenter development,” said Warren Fink, COO of Carlyle Development Group.

“With our new zoning, we're now able to actively pursue that vision through the addition of elements like office, senior housing and medical uses. Walmart is a valued part of that mix, and a welcome addition to the neighborhood at large. We're very pleased to celebrate their groundbreaking."

The new Walmart Supercenter will provide shopping convenience and offer quality, value-priced general merchandise that includes apparel, electronics, toys and sporting goods. The store also will feature a full-service pharmacy and complete line of groceries, including organic selections, fresh dairy and meat departments and local favorites.

Warren Fink
Walmart will construct the Supercenter with industry-leading technology to maximize energy efficiency, conserve water and minimize waste. Environmentally responsible features will include LED lighting, high-efficiency HVAC units and the use of drought-tolerant landscaping irrigated with a low-flow and drip watering system.

Once open, the Supercenter will employ an estimated 250 associates. A mix of full- and part-time positions will be available throughout the store, including: department managers, customer service, personnel, maintenance, sales associates, stocking positions, cashiers and more.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195


 merchandise sales: www.walmart.com

HFF hires Doug Rodio as a senior managing director and co-head of its Philadelphia office


Doug Rodio
 PHILADELPHIA, PA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has hired Doug Rodio as a senior managing director in its Philadelphia office.  Mr. Rodio will co-head the office alongside senior managing director Mark Thomson, who has served as an office head since the opening of the office in December 2013.  

Additionally, Mr. Rodio will focus on office investment sales in Greater Philadelphia and throughout the northeastern United States.

Mr. Rodio joins HFF from Jones Lang LaSalle (JLL) where he was a managing director and co-head of the Philadelphia Capital Markets Group. 

 He has 13 years of industry experience and has been involved in more than 200 assignments covering a wide range of office, industrial, retail, multi-housing and land sales and financings totaling more than $6 billion in volume.

 Prior to joining JLL in 2010, Mr. Rodio held senior investment sales positions at CBRE and Marcus & Millichap where he was consistently a top producer.  He was elected to the National Board of Directors for NAIOP in 2014 and is also an active member of the Urban Land Institute. 

Mark Thomson
Mr. Rodio has served as a guest lecturer at the Daniel M. DiLella Center for Real Estate at Villanova University and attended Penn State University where he was a member of the varsity baseball team. 

HFF’s Philadelphia office opened with five employees in 2013, and today has a total of 24 transaction professionals, analysts and support staff for an increase of roughly 380 percent.

“Doug and I started in the business together more than a decade ago, and we have maintained a great friendship ever since,” said Thomson.  

“I am very excited to add one of the most dominant producers in our region to the HFF team, and on a personal level, I am looking forward to working with Doug again so we can continue to build a significant presence here in Philadelphia.”

“Doug is an extremely well-respected broker with not only a stellar track record, but also a stellar reputation,” added Thomson. 

 “He exemplifies the caliber of character and cultural integrity that HFF requires, which is why he is joining us in a leadership position.  Doug’s addition fills a local need for us in the office sales arena, and we are anxious to add the top market share in office to our existing top market shares for multi-housing and retail.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



Wednesday, July 27, 2016

HFF closes $15 million sale of three office properties within the Mack-Cali Business Campus in northern New Jersey


Four, Five and Six Century Drive Within Mack-Cali Business Campus, Parsippany, NJ

Jose Cruz
FLORHAM PARK, NJ –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $15 million sale of 4, 5 and 6 Century Drive, three office buildings totaling approximately 280,000 square feet within the Mack-Cali Business Campus in Parsippany, New Jersey. 

HFF marketed the property on behalf of the seller, Mack-Cali Realty Corporation, and procured the buyer, a partnership between Bergman Real Estate Group and Time Equities, Inc.  The properties were sold free and clear of debt. 

4, 5 and 6 Century Drive are positioned within the Morris County community of Parsippany near the intersection of three of the state’s most highly traveled highways - Interstates 287, 80 and 280.

 This places the property within a 35-minute drive of New York City and within close proximity to corporate neighbors including Tiffany’s, Medicines Co., T-Mobile, Wyndham, GAF and Avis, among others.

 Built in 1981, features include a full-service cafeteria, excess parking, a picturesque courtyard with fountain and separate picnic areas. 

The Mack-Cali Business Campus that the properties reside in, offers additional amenities including a Bright Horizons child care center, a Hilton hotel, a Residence Inn by Marriott hotel, and restaurants including Ruth’s Chris Steak House.

Kevin O'Hearn
 Wegman’s grocery store and several adjacent restaurants are currently under construction in the park.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and associate director Marc Duval. 

The Bergman/Time Equites team was represented by Michael Bergman, president, and Michael Difede, director of acquisitions of Bergman Real Estate Group, and Aaron Medeiros, director of acquisitions for Time Equities. 

“These assets have a significant amount of upside and we are seeing more interest from the investor community for well-located office properties that offer the opportunity to add value,” stated Cruz.

“We are pleased that Mack Cali and HFF selected us to purchase these quality buildings,” explains Michael Bergman.  “While Mack Cali has done a nice job in maintaining these assets, we will continue to make several improvements and add new amenities to provide tenants great value for the cost.

“The tenants will also benefit from the on-going enhancements Mack Cali is planning for their existing Parsippany Business Campus.” 

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

Kristen M. Murphy
Director, Marketing
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


HFF closes sale of the leasehold interest of a vacant grocery store near Seattle, WA

Nick Foster

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the leasehold interest of a vacant building formerly occupied by Haggen Food & Pharmacy in the Seattle suburb of Burien, Washington.

HFF marketed the property on behalf of the seller, HH Property North, LLC.  Five Corners Leasehold LLC, purchased the leasehold interest for an undisclosed price.

Completed in 1996, the 40,593-square-foot building is part of the Five Corners Shopping Center, which is also home to Trader Joe’s, Panda Express, Starbucks, Freedom Fitness, Verizon and Sunny Teriyaki.

 Located at 15840 1st Avenue South, the building is at the intersection of South 160th Street and 1st Avenue South just off Highway 509 near Seattle-Tacoma International Airport.

The HFF investment sales team representing the seller was led by Nick Foster, Nick Kassab and Mark West.  The buyer was represented by Brendan Powell of Marcus & Millichap.

“This was an excellent opportunity to own a quality retail building within a dynamic shopping center in the Seattle MSA,” Foster said.

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

Kristen M. Murphy
Director, Marketing
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