Friday, August 20, 2010
McCarthy Building Companies Tops Out Structural Steel on Terminal C at John Wayne Airport in Orange County, CA
ORANGE COUNTY, CA, Aug. 20, 2010— McCarthy Building Companies, one of Southern California’s preeminent builders, topped out structural steel on the new Terminal C at John Wayne Airport (top left photo) on August 2, 2010 when construction workers from W&W Steel Company lifted and secured the final steel beam to the top of the structure.
Over the last four months, construction workers used a 350-ton crawler crane to install 2,400 pieces of structural steel for the new Terminal.
Serving as the general contractor for the project, McCarthy is building a new 280,000-square-foot, three-level terminal with six bridged aircraft gates at John Wayne Airport.
Additionally, new commuter passenger terminals with space for up to three commuter/ regional jets at the north end of Terminal A and three commuter/regional jets at the south end of Terminal C are being built.
“We are conducting a very detailed plan for the project due to the logistics of building in an operational airport facility; a constricted site bounded by airport operations and roadways; and tight security constraints at the airport,” said Khatchig Tchapadarian, (bottom left photo) McCarthy’s project director.
“In order to minimize any impact to airport operations, the project is being phased, some construction work is being conducted at night and barricades have been installed.”
To maintain a seamless connection between all three terminals, the new building’s exterior skin will incorporate masonry, plaster, and stone along with glass and metal panels similar to the existing structures. The interior features vaulted ceilings resembling a fuselage, several windows and skylights.
Additionally, custom-designed power receptacles located between the backs of the passenger seating rows will allow travelers to power up their cell phones, laptop and other electronic devices while waiting for their flight.
Environmentally responsible construction techniques are being used throughout the project including: curbing storm water runoff from the construction sites to prevent discharge of pollutants to the storm drains; recycling 90 percent of construction-related materials and waste; and dust mitigation activities to minimize air quality effects during construction.
Parsons of Pasadena, CA is the Program Manager; Arcadis/Pinnacle One of Irvine, Calif. is the Construction Management firm; Jacobs of Santa Ana, Calif. is the Civil & MEP Engineer; and IDS Group, Inc. of Irvine, Calif. is the Structural Engineer. The main specialty contractors are: Capparelli/KHS&S of Orange (framing/drywall); Helix of San Diego, Calif. (electrical), A.O. Reed of San Diego (HVAC) and Pan Pacific Plumbing of Irvine (plumbing).
Construction began in August 2009 and is scheduled to open to the public in late 2011.
Laura Mickelson (LM Communications), (949) 453-0851
Susan Garritano (McCarthy Building Companies, Inc.), (314) 968-3300
CLEVELAND, OH Aug. 20 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:and)(NYSE:FCEB) today announced that a subsidiary closed a $46.1 million HUD-insured mortgage loan for Foundry Lofts, (top left photo) a 170-unit, 80/20 multifamily apartment building at The Yards, (bottom left photo) Forest City's mixed-use project in southeast Washington, D.C.
"This financing is an important milestone for The Yards for several reasons," said Charles A. Ratner (middle right photo) , Forest City president and chief executive officer.
"Most important, we believe it marks the start of a new period of economic revitalization and opportunity for this neighborhood and all of southeast D.C."
"Foundry Lofts is also significant for us as a company," Ratner added.
"With the exception of the Barclays Center arena in Brooklyn, this is the first new construction we have started in two years.
"The D.C. market has held up very well during the downturn, giving us confidence in the market. The innovative financing behind this project provided the other necessary piece.
"The project also highlights the significant entitlements we hold in quality markets that enable us to move forward on projects as markets and financing allow."
The NIBP program, which was implemented as part of the Housing and Economic Recovery Act of 2008, is designed to help provide market liquidity for bonds that housing finance agencies use to provide financing.
The Yards is located on 42 acres along the Anacostia River in the Capital Riverfront District adjacent to Nationals Park, (bottom left photo) the home of the Washington Nationals major-league baseball team.
Contact: Robert O'Brien, Executive Vice President - Chief Financial Officer, +1-216-621-6060; Jeff Linton, Vice President - Corporate Communication, +1-216-621-6060
Web Site: http://www.forestcity.net/
Grubb & Ellis Commercial Florida Names NiCole Barry Vice President of Office Services Group in Orlando area
ORLANDO, Fla. --- Grubb & Ellis Commercial Florida has appointed NiCole Barry (top right photo) vice president of office services in the Orlando region.
Jeff Sweeney, SIOR, president of Grubb & Ellis Commercial Florida in Orlando, Tampa and Melbourne, said Barry is a graduate of the University of Florida and has more than 20 years of experience in commercial real estate.
“NiCole Barry is one of the bright stars in the office leasing field in Central Florida,” said Sweeney. “We are delighted she has joined our team and we expect her to play a key role in our expansion,” he said.
Barry will office in the firm’s new expanded headquarters facility at 20 N. Orlando Ave. in Maitland.
Contact: Jeff Sweeney, SIOR 407-481-5387, http://www.commercialfl.com/
BDG Construction Services Awarded Contract by Largest Florida Panera Bread Franchisee to build out space for new operation in Fort Lauderdale
WINTER SPRINGS, FL (Aug. 20, 2010) --- BDG Construction Services in Winter Springs was recently awarded a contract to build out the interior space for a new Panera Bread franchise operation at Southport Shopping Center (top left photo) at 1461 SE 17th St. in Fort Lauderdale.
Kevin Guffee, principal with BDG Construction Services, LLC said Covelli Enterprises–the largest Panera Bread franchisee in Florida–awarded the contract for the 4,976 square foot facility that will seat 279 patrons when it’s completed and opened by the end of this year.
For more information, contact:
Kevin Guffee, Principal, BDG Construction Services, LLC, 407-729-5832 email@example.com
Esther Vargas-Davis, Site Manager, UCF Incubator-Seminole County, 407-278-4881, firstname.lastname@example.org
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
ORLANDO, Fla. – NAI Realvest recently negotiated two renewal leases for industrial space totaling 33,858 square feet at commerce centers in Orlando and Lake Mary
Michael Heidrich (top right photo), principal at NAI Realvest, negotiated both transactions representing the landlords.
At Lake Mary Business Center the tenant Goulds Pumps Inc., based in Upper Saddle River, N.J., renewed its lease of 32,358 square feet for three years at 1150 Emma Oaks Trail. Lee Morris (bottom right photo) of Cushman & Wakefield represented Goulds. Lake Mary BC, LLP of Maitland is the landlord.
Contact: Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999, ext. 226
MIAMI, FL--Developer Ugo Colombo's (top right photo) luxury Epic West condominium (top left photo) in Downtown Miami has unloaded 14 units in bulk at a 32 percent discount off of the project's $556-per-square-foot average sales price, according to a new report from CondoVultures.com.
This deal ranks as the highest price paid per square foot for a block of at least 10 units in Greater Downtown Miami, according to Condo Vultures® Bulk Deals Database™.
"The immediate challenge will be generating a healthy annual return on the rent until the units can be retraded. Despite the obvious risk, the buying group was so impressed with the product that it returned within 45 days of its original transaction to buy more units."
The project's Italian-born developer established a reputation in Miami for luxury condos based on his success with the Bristol Tower (lower left photo) in 1993 and the Santa Maria condominium (lower right photo) some years later.
With this bulk deal, there have now been 21 transactions in Greater Downtown Miami representing more than 1,900 units and 2.7 million square feet at an average of $215 per square foot, according to the report.
Overall, bulk buyers have transacted more than 60 condo deals in South Florida since July 2008, accounting for more than 5,500 units with 6.5 million square feet for an average price of $237 per square foot, according to the Condo Vultures® Bulk Deals Database™.
At the end of the second quarter, there were 5,000 unsold developer units in Greater Downtown Miami, which stretches from the Julia Tuttle Causeway south to the Rickenbacker Causeway, Interstate 95 east to Biscayne Bay.
The average price per square foot for a new unit in Greater Downtown Miami at the end of the second quarter was $333, according to the licensed Florida sell-side brokerage CVR Realty™.
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at email@example.com
MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $79 million refinancing for The Shops at Sunset Place, (top left photo) an open-air mall in Miami, Florida.
HFF executive managing director Manny de Zárraga (top right photo), director Luis Castillo (bottom left photo) and managing director Danny Finkle (top left photo), in conjunction with managing director Claudia Steeb and executive managing director and managing member, John Pelusi, Jr. (middle right photo) of the Pittsburgh office of HFF, worked exclusively on behalf of the property’s ownership group comprised of Simon Property Group and Institutional Mall Investors, LLC, a joint venture between an affiliate of Miller Capital Advisory, Inc. and the California Public Employees’ Retirement System (CalPERS).
The Shops at Sunset Place is located at 5701 Sunset Drive at the intersection of US Route 1 and SW 57th Avenue in South Miami.
Completed in 1999, the property has three open-air retail buildings and an eight-story parking garage all connected via pedestrian sidewalks and bridges.
“This is the dominant entertainment and lifestyle center in Miami and provides one of the most unique venues in the market,” said Castillo.
“The combination of stellar sponsorship, strong surrounding demographics and proven operating history attracted a large number of lenders, which competed aggressively for the financing opportunity.”
Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. The company currently owns or has an interest in more than 373 properties comprising in excess of 256 million square feet of gross leasable area in North America, Europe and Asia.
Institutional Mall Investors LLC (“IMI”) is a co-investment venture owned by an affiliate of Miller Capital Advisory, Inc. (MCA) and CalPERS. MCA serves as investment manager for IMI. IMI is a core-oriented investment platform focused on high quality, market dominant, fashion-oriented retail properties.
IMI also seeks to invest in productive lifestyle, mixed-use and development opportunities as circumstances warrant.
Luis Castillo, HFF Director, (305) 448-1333, firstname.lastname@example.org
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, email@example.com
Grubb & Ellis Commercial Florida is Co-Sponsor of RealShare Distressed Assets Conference in Dallas Sept. 16
ORLANDO, Fla. --- Grubb & Ellis Commercial Florida in Orlando, Tampa and Melbourne will participate and be a key sponsor the RealShare Distressed Assets Conference set for Sept. 16 in Dallas.
Jeff Sweeney, (middle right photo) president of Grubb & Ellis Commercial Florida, said the firm will play a major role in the conference.
The firm has projects under way in 35 Florida counties and has handled 71 distressed asset transactions within the last year valued at more than $150 million.
In 2009, Grubb & Ellis Commercial Florida created a Property Tax Advisory Division to service distressed assets, and has seen that business grow by 225 percent in the past 12 months.
Jeff Sweeney, SIOR 407-481-5387, http://www.commercialfl.com/
Larry Vershel Communications, 407-644-4142
Grubb & Ellis Commercial Florida Negotiates 10-Year Lease with 7-Eleven Franchisee opening at 55 West in Downtown Orlando
Commercial Florida recently completed a new 10-year lease agreement for 2,800 square feet of retail space at 55 West, located at 55 W. Church St. (bottom right photo) in downtown Orlando.
Aaron Gray, (middle left photo) associate at Grubb & Ellis Commercial Florida, negotiated the lease on behalf of the Netherlands-based landlord FFWO LLC. The new tenant is 55 West Convenience Store LLC d/b/a 7-Eleven
“We are extremely pleased to welcome 7-Eleven to 55 West. The choice to occupy space within the 55 West tower on Pine Street is a vote of confidence not only in 55 West but in Pine Street and downtown Orlando as well,” Gray said.
Jay Manji of Manji Realty represented the tenant.
Aaron Gray, 407-481-5397, firstname.lastname@example.org
Jeff Sweeney, 407-481-5387, email@example.com
Larry Vershel 407-644-4142