Monday, November 22, 2010

$82.44 Million Sale of 2121 K Street NW in Washington, DC Closed by HFF


WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 2121 K Street NW (top left photo), a 190,458-square-foot, Class A office building in downtown Washington, D.C.

HFF senior managing directors Jim Meisel  (middle right photo) and Dek Potts (middle  left photo) and managing director Andrew Weir (lower right photo) represented the seller, ING Clarion Partners. 

TF Cornerstone purchased the property for $82.44 million free and clear of existing debt.

 Recently renovated in 2009, 2121 K Street NW is an 11-story property with ground-level retail and a 132-space underground parking garage.

 The property is 71% leased to tenants including the United Mine Workers of American Pension Trust (UMWA), Economists Incorporated, Intl Research & Exchange, George Washington University and a recently signed retail lease with celebrity chef Bobby Flay’s, Bobby’s Burger Palace.

  Tenants have access to an on-site fitness center with showers and locker rooms, and a rooftop terrace.  Located on the north side of K Street between 21st and 22nd Streets, 2121 K Street NW is within walking distance of the Foggy Bottom, Farragut West and Farragut North Metro stations in downtown Washington, D.C.

“Washington, D.C. continues to rank as the top city for commercial real estate investment in the world,” said Meisel.  “We had tremendous interest in this core plus investment opportunity as the leasing market in the CBD continues to improve.”

TF Cornerstone is a family-owned and operated real estate acquisition, development and management organization with residential, commercial and retail properties in both New York and Washington, D.C.

 Headquartered at 290 Park Avenue South, TF Cornerstone’s principals pride themselves on their personal involvement in all aspects of their business and portfolio, ensuring the highest level of quality and assurance.

James A. Meisel, HFF Senior Managing Director, (202) 533-2500,
Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533-2500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,


St. Regis Hotels & Resorts Debuts First St. Regis Resort in China

From left : Mr. Don Lin, first guest at the hotel; Mr. Magdy Anis, General Manager of The St. Regis Resort, Lhasa; Mrs. Bai Sheng Lin, first guest at the hotel and Ms. Elfa Cleofe, Director of Sales and Marketing of The St. Regis Resort, Lhasa.

LHASA, TIBET-- - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announces the debut of St. Regis’ first property in China and first-ever luxury resort in Tibet, with the opening of The St. Regis Lhasa Resort (middle right photo).

Standing on the “Roof of the World” at 12,000 feet above sea level, The St. Regis Lhasa Resort offers refined luxury and superlative service in a storied city.

The resort boasts awe-inspiring views of the Himalayas and the Lhasa Valley from each of the 162 guest rooms, suites and villas which feature distinctive architectural details and décor that entwine modern luxury with traditional Tibetan elements.

 “We are proud to debut the St. Regis brand in China with the opening of The St. Regis Lhasa Resort, offering our discerning guests access to the distinguished St. Regis legacy with the highest expression of personalization, refined elegance and uncompromised guest experiences,” said Paul James (lower left photo), Global Brand Leader, St. Regis and The Luxury Collection Hotels & Resorts.

“With the region’s unrivaled natural beauty and enchanting cultural heritage, Lhasa is one of the world’s most coveted destinations for global travelers, and The St. Regis Lhasa Resort is destined to be an unparalleled way to discover Tibet.”

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications – Asia
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190
Tel : 65 9768.6087

 Glodow Nead Communications
1700 Montgomery Street, Suite 203
San Francisco, CA 94111
T: 1 415.394.6500
C : 1 650.892.4769 F: 415.403.9060

W Retreat & Spa Bali-Seminyak Marks the Much-Anticipated Debut of W Hotels Worldwide in Indonesia

BALI, INDONESIA (Nov. 22, 2010) – The much anticipated W Retreat & Spa Bali-Seminyak (top left photo) marks its debut in Indonesia this early 2011, representing another milestone in W’s global expansion into the world’s most exciting and vibrant destinations.

 Located in Seminyak, the trendy enclave of Bali, W Retreat & Spa Bali-Seminyak is the latest playground on the island which will emanate the destination’s exuberance, where designer boutiques, eclectic galleries, concept restaurants, and chic cocktail bars and clubs predominate.
 “We are excited to bring the W brand to Bali,” said Miguel Ko (lower right photo), President and Chairman of Starwood Hotels & Resorts, Asia Pacific.

“After the opening of W Retreat & Spa-Vieques Island and W Retreat Koh Samui, W Retreat & Spa Bali-Seminyak will be our third retreat to open in 2010.  W Retreat & Spa Bali-Seminyak will redefine the resort experience and bring a new and distinctive product to the hotel market in Indonesia.”

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications – Asia
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190
Tel : 65 9768.6087

 Glodow Nead Communications
1700 Montgomery Street, Suite 203
San Francisco, CA 94111
T: 1 415.394.6500
C : 1 650.892.4769 F: 415.403.9060

Marcus & Millichap Lists $23.4 Million Shopping Center in Central Ohio

 HILLIARD, OH – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Market at Mill Run (top left photo), a 146,173-square foot shopping center in Hilliard.

The listing price of $23,418,000 represents $160 per square foot.

 Chris Thomson, a retail property investment specialist in the firm’s Columbus office, is representing the seller, a well-known local developer and the original owner of the property.

 “Market at Mill Run is anchored by Movie Tavern and Lifestyle Family Fitness, both of which have long-term leases,” says Thomson.

 “Movie Tavern’s lease expires in 2016 and Lifestyle Family Fitness’ lease expires in 2021. Nonrecourse assumable financing with favorable terms is available,” adds Thomson.

The property is located at 3770 Fishinger Blvd., a heavily traveled east-west thoroughfare in Hilliard, a densely populated suburb northwest of Columbus. Traffic counts on Fishinger Boulevard exceed 45,000 cars per day.

Market at Mill Run was built in 1988 on 21.34 acres. The property is currently 85 percent occupied by 28 tenants. Major tenants include Chipotle, First Watch, Huntington Bank, Shell, Starbucks and Tire Discounters.

Hilliard is a mature infill suburb that has experienced tremendous growth during the past 15 years.

 Bill Rose Named Western Regional Director of Marcus & Millichap’s National Retail Group

ENCINO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Bill Rose  middle left photo), to Western Regional Director of its National Retail Group (NRG), according to Alan L. Pontius (lower right photo) managing director of the NRG.

In addition to his new duties with the NRG, Rose will continue to serve as sales manager of the San Diego office.

“Bill has an in-depth understanding of the fundamentals that shape the western U.S. retail market,” says Pontius. “His knowledge of the retail investment sector and capital markets makes him an asset to our investment advisor, as well as our private and institutional investor clients.”

Rose joined Marcus & Millichap’s San Diego office in September 2003 as a retail and multifamily investment specialist. He was promoted to associate status in September 2004 and earned the title of senior associate in September 2006.

Prior to rejoining the firm, Rose was a managing director in the San Diego office of Holliday Fenoglio Fowler L.P., where he was primarily responsible for originating debt, equity and investment sale transactions throughout the western United States. 

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

Stirling Sotheby’s International Realty Unveils Smart Phone Bar Code Marketing Technology in Central Florida

 ORLANDO, Fla. --- Stirling Sotheby’s International Realty has unveiled its new smart phone bar code (top left photo) marketing technology throughout Central Florida.

 Roger Soderstrom (middle right photo), founder and owner of Stirling Sotheby’s International Realty, said both potential home buyers and commercial clients will be able to access a comprehensive data base about individual properties by snapping a picture of the bar code on the property ‘for sale’ or ‘for lease’ sign.

“We are redesigning our signage, brochures, postcards, web site and advertising to accommodate bar codes,” Soderstrom said.

 “Prospective buyers can access all the data on a particular property, including brochures, interactive flyers and video instantly and easily by snapping a picture of the bar code,” Soderstrom said.

 Soderstrom said Stirling Sotheby’s has rolled out the barcode marketing technology on all of its downtown Orlando commercial properties.

 For more information, contact:

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890  
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 

NAI Realvest Negotiates $300,980 Sale Price for 4-Acre Development Site in Poinciana Office & Industrial Park in Osceola County, FL

 MAITLAND, FL – NAI Realvest completed the $300,980 sale of an industrial development site at Poinciana Office and Industrial Park on Poinciana Blvd. and U.S. Hwy.17-92 in Poinciana, Osceola County.

 NAI Realvest Principals Robert Blackwell (top right photo), SIOR and Michael Heidrich (lower left photo) negotiated the transaction representing the seller Avatar Properties, Inc. of Coral Gables. 

Williams Properties, an Orlando-based developer, bought the site designated as four acres of Tract N and plans to use the property for an office warehouse development.

For more information, contact:  

Robert Blackwell SIOR or Michael Heidrich, Principals at NAI Realvest, 407-875-9989;  
Patrick Mahoney, President NAI Realvest , 407-875-9989;
 Beth Payan, Larry Vershel Communications, Inc. 407-644-4142

NAI Realvest Brokers Sale of Brevard County, FL Development Site

 ORLANDO, Fla. – NAI Realvest recently negotiated the $548,856 purchase of a 0.98-acre retail development site for a new Tire Kingdom store on Lake Andrew Drive just north of Napolo Drive in Viera.

 NAI Realvest principals Kevin O'Connor (top right photo) and Matt Cichocki (middle left photo)  negotiated the transaction on behalf of the buyer Pavilion Capital, LLC of Charlotte, N.C., a developer for Tire Kingdom who plans to construct a 7,000 square foot store on the site.  

 The Viera Company of Melbourne is the seller.

 This is the ninth Central Florida Tire Kingdom location the NAI Realvest retail team of O’Connor and Cichocki has secured, with two additional sites under contract.

 NAI Realvest managing partner Paul P. Partyka and associate George Viele represented the seller in the transaction.

For more information, contact:

Kevin O’Connor or Matt Cichocki, Principals NAI Realvest, 407-875-9989
 Paul P. Partyka, Principal/Managing Partner, NAI Realvest 407-875-9989,;
 Patrick Mahoney, President, NAI Realvest 407-875-9989
 Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142 

Marketplace Advisors, Inc. Negotiates Lease at Shoppes at Aloma Walk in Seminole County, FL

ORLANDO, FL - Marketplace Advisors, Inc. recently negotiated a new long-term lease agreement for 2,400 square feet of restaurant space at the Shoppes at Aloma Walk, a Publix-anchored retail center located on Aloma Ave. at S.R. 417 in Seminole County.

 David Marks (top right photo), president of Marketplace Advisors, Inc., negotiated the lease agreement representing the landlord, Aloma Walk Commercial Venture, LLC.
 The new tenant is Y.Y. Gourmet Group, LLC, d/b/a Miyako Japanese Restaurant.   GBA Realty, LLC associate Paul Kiang participated in the transaction representing the tenant.

For more information, contact:  

David Marks, Marketplace Advisors, Inc., 407-599-0007,;
Larry Vershel or Beth Payan, LV Communications, 407-644-4142   

Hendricks & Partners and The Oakley Group Negotiate Sale of Large Birmingham AL Apartment portfolio for $32,100,000

 BIRMINGHAM - Hendricks & Partners, one of the nation’s largest multifamily advisory and research firms and The Oakley Group co-listed and negotiated the sale of the Highland Multi-Family Portfolio of apartment properties in Birmingham for $32,100,000.

Cole Whitaker (top right photo), who heads the Southeast region for Hendricks & Partners in Orlando, said Abbey Residential, LLC of Birmingham acquired the portfolio, which includes 1,782 apartment units, and ranks among the largest unit sales in Birmingham history.

The portfolio includes three apartment communities, Highland Peak, with 585 apartments at 114 Aspen Circle in Homewood, Highland View with 644 units located at 700 Aspen Drive in Birmingham and Highland Bluff with 553 apartment units at 200 Robert Jemison Drive in Birmingham

 “The Highland Multi-family Portfolio sale points to the strength of the Birmingham market,” Whitaker said.  “Market response to this offering was exceptionally strong, and all of us are pleased that the properties were acquired by a Birmingham company,” he said.

 “We are very appreciative of the support Hendricks & Partners and The Oakley Group provided in achieving the 30-day due diligence period and contract parameters to close this transaction in 60 days, said J. Frank Barefield, Jr.,  president of Abbey Residential, LLC.  “That is a very difficult task for 1,782 distressed units,” he added. 

 “Abbey Residential was the perfect fit for this deal,” said David Oakley. (middle right photo)  “They did exactly what they said they would do throughout the entire process—there were no retrades and no extensions. 

"That goes a long way in our industry and demonstrates the high standards of Abbey Residential,” Oakley explained.

 Whitaker headed the Hendricks & Partners team that negotiated the sale along with associate partner Hal Warren (top left photo) of Orlando, and Associates John Clayton, Aaron Hargrove and Tim McKay who work out of Hendricks & Partners south central office.

Hendricks & Partners and The Oakley Group represented the seller REDUS Alabama Commercial, LLC (Wells Fargo Bank, N.A.) of Atlanta, Charlotte and Los Angeles.

For more information, contact:  

Cole Whitaker, Managing Partner, Hendricks & Partners 407-256-9594;  
 David Oakley, The Oakley Group, Inc.  205-918-0785;  
Hal Warren, Associate Partner, Hendricks & Partners 407- 256-9594;  
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Morrison Commercial Real Estate Completes Office Lease Transactions totaling 26,803+ SF in Orlando

 ORLANDO, FL-- Greg Morrison (lower right photo), CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of four office lease transactions totaling 26,803± square feet. 

 Lisa Bailey  (top right photo) represented American Woodmark Corp., in the lease of 20,500± square feet at 5950 Hazeltine National Drive, Orlando.  Southern Commercial Real Estate represented the Landlord, McDonald Lee Vista D, LLC.

 Greg Morrison represented Alinean, Inc. in the lease of 6,304± square feet at 100 North Magnolia Avenue in Orlando.  Jeff Patterson of Lincoln Property Company represented the Landlord, Lincoln Orlando Holdings, LLC, in this transaction.
Emily Zinaich (top left photo) of Morrison Commercial Real Estate has renewed Currency Exchange for a total of 3,944 square feet at Millenia Park One located on Vineland Road in South Orlando.  Anne Deason with Grubb & Ellis represented the Tenant in this transaction.

Contact: Kathryn Crownover, Phone: 407.219.3500 ext. 210

Mohawk Industries Leases 46,002 SF at 7320 Kingspointe Parkway, Orlando

 ORLANDO, FL.(Nov. 22, 2010) Principal Moses Salcido (top right photo) SIOR of Southern Commercial Real Estate Advisors completed a 46,002 square foot new lease at 7320 Kingspointe Parkway.

 Salcido represented the Landlord, Crownpointe Buildings LLC.  The Tenant, Mohawk Industries Inc, was represented by Kaycee Kapels with Jones Lang LaSalle. 

Southern Commercial Completes 15,257-SF Lease at 7560 Exchange Drive, Orlando

ORLANDO, FL--Principals Tom McFadden (lower left photo), SIOR and William “Bo” Bradford (lower right photo), CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 15,257 square foot new lease at 7560 Exchange Drive. 
McFadden and Bradford represented the Landlord, Dexus Industrial SPE Financed Portfolio LLC. 

The Tenant, Windsor Republic Door, Inc was represented by Sher Tolan of Southern Commercial Real Estate Advisors, LLC. 

Media Contact:  Celeste MacKenzie, 321-281 8503