Tuesday, October 19, 2010

Jones Lang LaSalle Promotes Two Executives in Orange County, CA

 IRVINE, CA – Jones Lang LaSalle today announced the firm has promoted Curtis Ellmore  (top left photo) to Vice President and Robbie Frazier CPM® LEED® AP (top right photo)  to Senior Project Manager in its Orange County office.

Ellmore specializes in providing clients with portfolio and transaction strategy with an emphasis in the greater Orange County area.  He also has extensive experience in assisting clients with site and building acquisitions/dispositions, lease analysis and negotiations.

Frazier specializes in providing full life-cycle project management for variable projects and has direct responsibility for overall project construction management of large projects, scheduling, budgeting, design team and contractor procurement, contract negotiations and value engineering.

 “Curtis and Robbie have consistently exceeded client expectations and their leadership, drive and success qualify them to help direct the growth of the Orange County business,” said Jeffrey Ingham, Jones Lang LaSalle’s Senior Managing Director for the Orange County region.

  “They are well-deserving of this promotion and we are thrilled that they are a part of the Jones Lang LaSalle team.” 

Ellmore is a member of various organizations including CoreNet and the Urban Land Institute (ULI).  In 2009, he was named “Broker of the Quarter” by The Irvine Company and an Orange County “CoStar Power Broker.”
Frazier holds a Bachelor of Arts degree in Organizational Management from Ashford University and an Associate of Arts degree in Business Administration from Irvine Valley College. She is a LEED Accredited Professional, holds a Real Estate License in California, a CPM, and is a PMP candidate.

For further information, please visit our Web site, http://www.joneslanglasalle.com/
Contact: David Ebeling, Phone, 949 278 7851

Jones Lang LaSalle Completes 100,000 SF Industrial Lease in Chino, CA

CHINO, CA— Jones Lang LaSalle has completed a lease with REPET, Inc. for 100,000 square feet of industrial space at 14207 Monte Vista Avenue (top left map) in Chino, Calif. 

Jones Lang LaSalle’s team of Executive Vice Presidents Sam Foster and Mike Fowler and Associate Chris Brandt along with IDS Real Estate Group represented the landlord, EastGroup Properties in the transaction.  Tony Phu of Colliers International represented the tenant.  

"In this challenging market, EastGroup’s ability to adapt to current conditions made it possible for us to secure a deal with REPET that provided improvements at a favorable rate,” said Foster.

  “EastGroup is one of the few industrial owners that continues to be well capitalized and positioned to do deals."

Ideally located near the 10, 60 and 57 Freeways, the property features excess trailer storage, rail access and a direct connection to the Santa Ana Regional Interceptor (SARI) Line that provides industrial users with an environmentally-friendly and convenient way to dispose of high-saline waste.

EastGroup Properties (NYSE:  EGP) is a real estate investment trust focused on the acquisition, development and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup's portfolio currently includes 28 million square feet.

The property is managed by IDS Real Estate Group (www.idsrealestate.com), a leading real estate services firm with offices throughout Southern California.  IDS represents clients nationwide and currently manages a commercial portfolio of approximately 21 million square feet with a focus on projects in California.

 For further information, please visit our website, http://www.joneslanglasalle.com/.

Contact: David Ebeling, Phone: +1 949 278 7851, Email:

Sperry Van Ness to Offer Renewable Energy and Energy Efficiency Services

 IRVINE, CA –. Sperry Van Ness International has joined the GreenPoint Network, an alliance of real estate firms dedicated to helping clients achieve profitable sustainability.

SVN Advisors in over 150 offices nationwide will receive training and resources to help clients identify energy initiatives that reduce operating expenses, increase building values, and capture financial incentives.

 GreenPoint’s engineers will perform energy audits and implement energy efficiency projects and solar installations.

“In the U.S., commercial buildings account for nearly 40 percent of total energy consumption and over two-thirds of electricity consumption,” said Sperry Van Ness CEO Kevin Maggiacomo (top right photo).

“And over the next decade, energy costs will likely be the fastest-growing component of building operating expenses.

“ If a building consumes more energy than its peers, it will attract fewer tenants and trade at lower valuations. Through our partnership with GreenPoint, SVN Advisors can make an impact that not only increases a client’s bottom line, but is also good for the planet.”

Said GreenPoint CEO Dustin Gellman (middle left photo), “Energy efficiency and renewable energy are a real estate play. Green building retrofits impact cash flows, and real estate professionals can help property owners better understand the financial impact of energy initiatives on asset performance.

 “We are delighted to work with Sperry Van Ness, an organization with a legacy of progressive thinking and innovation in the real estate industry.”

Sperry Van Ness Advisors will begin offering sustainability services beginning October 2010. The suite of services includes energy audits, competitive procurement, project management, incentives acquisition, and LEED certification.

 For more information, please visit http://www.svn.com/
Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

Interstate Hotels & Resorts Names Kathleen Barone Vice President, Global Sales & Strategic Accounts

 ARLINGTON, VA., Oct/ 19, 2010—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that Kathleen Barone (top right photo) has joined the company as vice president, global sales and strategic accounts.

 She previously served as director of sales and marketing at the Pittsburgh Airport Marriott in Pennsylvania.

 In her new position, Barone will be responsible for reinforcing relationships with major corporate accounts and supporting IHR hotels’ national account sales efforts.  She will report to George Brennan, Interstate’s executive vice president, sales and marketing.

“Kathleen’s diverse industry background in hotel sales and marketing, training and development, revenue management, and food and beverage, adds significant depth to our corporate sales capabilities,” Brennan said.

  “Her previous experience with Interstate, Marriott Corporation and Carlson Companies, combined with her record of achievement and proactive leadership, will make her effective in this position.”

While with the Pittsburgh Airport Marriott, Barone received Marriott’s Eastern Region Director of Sales and Marketing award in 2009, and Marriott’s Global Director of Sales and Marketing award and the Eastern Region Director of Sales and Marketing award in 2008.

 The awards were based on total hotel revenue achievements and outstanding leadership in the
 For more information about Interstate Hotels & Resorts, visit the company’s Web site: http://www.ihrco.com/.


Jerry Daly, Carol McCune                              Carrie McIntyre
Media                                                            SVP, Treasurer
Daly Gray                                                       Interstate Hotels & Resorts
(703) 435-6293                                              (703) 387-3320
jerry@dalygray.com                                       carrie.mcintyre@ihrco.com

Expedia Partner Services Group Releases NYC Market Data on 2011 Demand and Air Trends

  NEW YORK, NY, Oct. 19, 2010 – Data just released by Expedia, Inc., the world’s largest online travel company, provides a new forward look at 2011 demand trends to help New York hotels plan for next year.

The New York market data, which is based on bookings and shopping data from the company’s more than 90 Expedia.com and Hotels.com sites in over 60 countries worldwide, was unveiled at a hotel revenue management summit on Wednesday. 

 More than 175 members of the New York hotel community gathered for the revenue management summit at the Roosevelt Hotel in Midtown Manhattan last Wednesday, where a number of Expedia executives presented on trends in air travel, ADR improvements and forward looking shopping data, such as:

 Expedia expects a 2% increase in international air capacity and a 3% increase in domestic capacity into the New York market in 2011. The largest international increases originate from the UK, Germany, France, Japan and Israel.

So far this year, average airfares into New York have increased 12%, compared to 17% increase into San Francisco and 14% increase into Chicago.

For a complete copy of the report, please contact:
Julie Tullbane, Daly Gray, Inc., T 703-435-6293, F 703-435-6297, julie@dalygray.com

Brown Kessler Joins Hunter Realty

 ATLANTA, GA—Officials at Hunter Realty  announced that Brown Kessler (top right photo) has joined the company in their Atlanta home office as Executive Vice President.

 In his new role, he will be involved in brokerage, as well as hotel buyer/seller relations, selling/acquisition strategies, brand negotiations and real estate consulting.

“As part of our strategy to provide hotel brokerage and investment advisory services on a nationwide basis, we sought a well-respected hotelier who has the depth and experience to provide unmatched expertise for our clients,” said Teague Hunter (lower left photo), President.

 “Brown has a proven track record of more than three decades of industry experience.  Few hoteliers have had more impact on hotel real estate than him.”

Additional information, including current listings, is available at the company’s website http://www.hunterhotels.net/  or by contacting the Atlanta office at 770-916-0300.

Contact: Patrick Daly, Jerry Daly, media, (703) 435-6293                  patrick@dalygray.com

Marcus & Millichap Sells Upscale Houston Auto Dealership for $11 Million

 HOUSTON, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a Jaguar/Land Rover automobile dealership (top left photo) in Houston.

The sales price for the 7.53-acre, single-tenant net-leased asset was $11 million.

            Christopher Maling, a first vice president investments and David Maling, a vice president investments, both in the Los Angeles office of Marcus & Millichap, represented the seller, a Texas-based developer.

          James Mitchell, a senior associate in the Washington, D.C. office, represented the buyer, a Charlotte, N.C. publically traded corporation. Brent Smith (middle right photo), regional manager of the firm’s Houston office, also provided representation in this transaction.

            “This sale highlights Marcus & Millichap’s ability to source investment capital from a nationwide pool utilizing our network of more than 1,200 agents to match the unique needs of our seller with the right buyer,” explains Christopher Maling.

           “As representatives of a Texas-based developer, David and I worked with our firm’s automotive investment specialist in Washington, D.C., James Mitchell, to procure the most qualified buyer for this asset, an entity based in Charlotte, N.C.

        “With in-place assumable financing at a 9.2 percent cap rate and a levered 8.4 percent cash-on-cash return, this upscale property – in a prime West Houston location – was an excellent investment for this prudent buyer,” adds Christopher Maling.

            Located at 18205 Interstate 45 North, the 37,646 square-foot Jaguar/Land Rover Dealership is a single-tenant retail property. The dealership is currently leased on a 12-year, triple-net basis guaranteed by Sonic Automotive Inc., the third largest automotive group in the United States.

        Houston, which encompasses approximately 1,000 square miles, is one of Texas’ fastest-growing communities.

        The business-friendly city offers companies and residents access to the largest port in the United States, the largest medical center in the world, the Texas Medical Center (middle left photo),  and more energy-industry corporate headquarters than anywhere in the world.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Marcus & Millichap Sells $20.3 Million Single-Tenant Office Building in Phoenix, AZ

 PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 95,558-square foot single-tenant office building (top left photo) leased to the U.S. Department of Veteran’s Affairs (VA)  in Phoenix.

The sales price of $20.3 million equates to $212 per square foot.

Travis Trautvetter, a senior associate in the firm’s San Diego office and director of the National Office and Industrial Properties Group, represented the seller, a real estate development firm located in the Midwest.

 He also procured the buyer, an overseas investor based in the Netherlands, which partnered with a private investor located in Oregon.

The transaction was completed in coordination with David Guido (middle left photo), regional manager of the Phoenix office of Marcus & Millichap.

Chad O’Connor (top right photo), vice president capital markets at Marcus & Millichap Capital Corp. (MMCC), arranged acquisition financing in the amount of $15.1 million for the buyer.

 “The facility was built-to-suit for the VA in 2003,” says Trautvetter.

“The VA occupies the building on an original 20-year lease term. In addition to the strong credit of the tenant, the primary location of this property within Phoenix was a key driver of buyer interest.

“We received multiple offers on the property, reflecting the strong demand that exists in today’s market for investment-grade assets.”

The property is located at 3333 North Central Ave. in Phoenix, within blocks of the VA Medical Center and St. Joseph's Hospital and Medical Center.

Situated on 4.9 acres, the three-story Veteran’s Affairs building serves as the VA’s regional office.

Services provided at the site include the Veterans Service Center, Loan Center, National Call Center, Education Center, Vocational Rehabilitation and Employment, Human Resources and Veterans Service Organization.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Marcus & Millichap Sells Campus Park in Denton, TX

 DENTON, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Campus Park, a 192-unit, 564-bed student housing property in Denton.

Will Balthrope (middle right photo), a vice president investments in the firm’s Dallas office, and Ryan Epstein (lower left photo), a senior associate in San Antonio, represented the buyer, M&A Real Estate Partners and the seller, Internacional Realty Inc.

“Campus Park is a 96-percent occupied student housing asset strategically located between a high-traffic interstate and one of Texas’s fastest-growing universities,” says Balthrope.

            The property is located near Interstate 35E at 1541 Meadow St. in Denton, less than two miles southeast of the University of North Texas (UNT) and two miles south of Texas Woman’s University (TWU).

            Completed in 2000, the 191,808-square foot Campus Park has four floor plans. Amenities include a swimming pool with outdoor spa and sun deck, fitness center, sport court, sand volleyball, computer lab, clubroom with big- screen TV, billiards table, fully equipped kitchen and wood-burning fire pit. Each unit has its own full-size washer and dryer.

The University of North Texas (lower left photo) is a student-centered public research university with approximately 34,700 students, including an incoming first-year class of 3,390 students. Texas Woman’s University has an enrollment of more than 11,800 students.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Post Apartment Homes, L.P. Announces Pricing of $150 Million 4.75% Notes Due 2017

ATLANTA, GA--(BUSINESS WIRE)-- Post Apartment Homes, L.P., the operating subsidiary of Post Properties, Inc. (NYSE: PPS), has priced a public offering of $150 million aggregate principal amount of senior unsecured notes due 2017.

The notes will bear interest at a rate of 4.75% and are being offered to investors at a price of $998.59 per $1,000 in principal amount. The closing of the offering is scheduled to occur on October 18, 2010, subject to customary closing conditions.

Contact: Post Properties, Inc., Chris Papa, 404-846-5000