Monday, August 23, 2010
“With his extensive leadership experience and the excellent reputation he has earned as a brokerage professional in our market, Tim is a tremendous addition to our team,” said Mark Ballenger, (lower right photo) executive vice president and managing director of Grubb & Ellis’ Denver office.
“I couldn’t be more pleased that things have come full-circle and he is back at Grubb & Ellis.”
Over the course of his career, D’Angelo has completed transactions valued in excess of $750 million on behalf of clients including First Industrial Realty Trust, Union Pacific Railroad, Majestic Realty and Nobel Sysco Food.
Previously, he was president and founder of TD Industrial for four years after serving as senior vice president with Fuller and Company, which he joined in 1997.
Julia McCartney, 714.975.2230, Email: firstname.lastname@example.org
Erin Mays, 312.698.6735, email@example.com
Grubb & Ellis Tapped as Leasing Agent for 750,000-SF Troy Place in Troy, MI
SOUTHFIELD, MI (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has been selected by Troy Place Associates to be co-leasing agents with Nemer Property Group, Inc., at Troy Place (middle right photo), a five-building, 750,000-square-foot Class A office campus at the corner of West Big Beaver Road and Coolidge Highway in Troy.
Daniel Canvasser, (middle left photo) CCIM, senior associate, Ray Husband, senior vice president, Bob Badgero, senior vice president, and Steven Badgero, associate, all in the company’s Office Group, will join with Larry Nemer and Milford Nemer of Nemer Property Group, Inc., to handle the leasing for the property.
Located at 3001, 3155, 3221 and 3331 W. Big Beaver Road and 2855 Coolidge Highway, Troy Place offers two cafeterias with space available for private meetings, a bank, sundries shop, jeweler, hair salon and two executive parking garages.
Ocean Prime restaurant, one of Cameron Mitchell’s famed supper clubs, is located on the northeast corner of the site, with the Somerset Collection just to the east.
For more information, contact Canvasser at 248.350.8141 or firstname.lastname@example.org.
Grubb & Ellis Adds Religious and Non-Profit Facilities Services to San Diego Office
As part of the Retail Group, the team will specialize in assisting churches and non-profit organizations with their real estate needs.
“Tom and Gary are an effective team who successfully combine their commercial real estate expertise with extensive experience in church and non-profit organizations to deliver clients thorough and effective solutions,” said Jim Munson, executive vice president and managing director of Grubb & Ellis’ San Diego office.
“Their specialty enables us to expand the services we offer clients and I couldn’t be more thrilled to have them on board.”
“There are many religious denominations that operate on a national basis. By joining Grubb & Ellis, Gary and I are no longer limited to certain market areas; we can better serve our clients with the advantage of a national, multi-service platform,” Morgan said.
Friesen began his career in commercial real estate in 2008, at Church Brokers.
Contact: Julia McCartney, Phone: 714.975.2230, Email: email@example.com
Grubb & Ellis Selected to Lease One Million SF of Retail Space at Foothill Ranch Towne Centre in Foothill Ranch, CA
Eric Lambiase and Walter Pagel, senior vice presidents, as well as Tom Carpenter, associate, of the company’s Retail Group, are marketing the center on behalf of Pacific Development Group.
“Foothill Ranch Towne Centre is excellently located in a high-traffic area,” said Lambiase. “The center offers retailers the opportunity to lease space in a popular destination.”
Foothill Ranch Towne Centre is located at the southwest intersection of Bake and Portola parkways and is within close proximity to Highway 241, largely serving communities between Rancho Santa Margarita and Yorba Linda.
Major tenants include Target, Old Navy, Ralphs, In-N-Out, Michael’s, Regal Cinemas, Staples, CVS, Jo-Ann and Chuck E. Cheese. Currently available space ranges in size from 900 to 3,600 square feet.
For more information, call 949.608.2000, or email Lambiase at Eric.Lambiase@grubb-ellis.com, Pagel at Walter.Pagel@grubb-ellis.com, or Carpenter at Tom.Carpenter@grubb-ellis.com.
CHICAGO, IL--Cambridge Realty Capital Companies reports closing a $30.2 million FHA-insured HUD Lean mortgage to refinance the Huntington Hills Center for Health & Rehabilitation, (top left photo) a 320-bed skilled care nursing facility in Melville, N.Y.
Cambridge Chairman Jeffrey A. Davis (lower right photo) said the fully-amortized, 30-year term loan was arranged for the owner, a New York limited liability company.
The loan was coordinated by Cambridge’s National Origination Manager Hymie Barber and underwritten by Cambridge Realty Capital Ltd. Of Illinois, the Cambridge business unit that specializing in underwriting HUD Lean loans.
Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender/borrower relationship and identify “ideal” capital solutions for worthy projects. The company has a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.
Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: firstname.lastname@example.org
MIAMI, FL---More than 100,000 properties - or an average of 2,300 per month - have been repossessed in the tricounty South Florida region since the real estate crash began in 2007, according to a new report from
Lenders surpassed the 100,000 threshold on Thursday, Aug. 19, when 317 properties were repossessed in Miami-Dade, Broward, and Palm Beach counties, according to the report based on the Condo Vultures® Foreclosure Database™.
For the year through Aug. 20, lenders have taken back more than 33,600 South Florida properties, which already outpaces the 30,400 tricounty properties repossessed in 2009 and the nearly 26,250 in 2008, according to the report based on the government records from Miami-Dade, Broward, and Palm Beach counties.
"To get a grasp of South Florida's real estate crash, consider that lenders have repossessed an average of 75 properties per day since January 2007, which is a span of more than 1,300 days," said Peter Zalewski, (middle right photo) a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.
"For context, consider that lenders are repossessing about 40 percent of all South Florida properties where a foreclosure filing has been initiated by a lender. Going forward, we expect the number of bank repossessions to slow as foreclosure filings for the year are down by about one-third in 2010 compared to 2009."
Condo Vultures® is hosting a Sept. 14 seminar entitled "Concerns Grow About Possible Double Dip In South Florida Real Estate" with three local experts who will explore the possibility that a further erosion of consumer confidence will play a factor in another residential market tumble.
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at email@example.com.
$1,477,500 Fannie Mae DUS® Small Loan Closed for 357 Main in Hyannis, MA
Uniondale, NY (Aug. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,477,500 loan under the Fannie Mae DUS® Small Loan product line for the 21-unit building known as 357 Main (top left photo) in Hyannis, MA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.97 percent.
Lansdale Gardens Apartments in Norfolk, VA Gets $2M Loan
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.62 percent.
The loan was originated by John Kelly, (bottom right photo) Vice President, in Arbor’s full-service Boston, MA, lending office.
Contact: Christopher Ostrowski, firstname.lastname@example.org