Tuesday, January 25, 2011

NAI Realvest Negotiates New Lease for 9,675 SFt, increasing occupancy to 100 Percent at Winter Park Commerce Center

 ORLANDO, FL – NAI Realvest recently completed a lease agreement for 9,675 square feet of office/industrial space at Winter Park Commerce Center near downtown Winter Park, FL. 

Michael Heidrich (top right photo), principal at NAI Realvest negotiated the transaction representing the landlord, Winter Park-based WFI. 

 Jack Lynch (lower left photo), senior associate at NAI Realvest represented the new tenant Hype Marketing d/b/a Fulfillment Experts, Inc., who leased units 913, 915 and 937 N. Pennsylvania Ave., and increased the occupancy to 100 percent at Winter Park Commerce Center.

For more information, contact:  
Jack Lynch, NAI Realvest 407-875-9989 or jlynch@realvest.com
Michael Heidrich, NAI Realvest 407-875-9989 or mheidrich@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

The Emmes Group of Companies Completes 11,310-SF Lease at High-Rise Office Tower in Irvine, CA

 IRVINE, CA, JAN. 25, 2011 – The EMMES Group of Companies, a privately-owned real estate investment company, has completed a 10-year lease with Systems Source for 11,310 square feet of space at The Michelson (top left photo), a landmark 533,000-square-foot high rise office tower located at 3161 Michelson in Irvine, Calif. 

The new space will be used as the company’s corporate headquarters.

Steve Card of Travers Realty represented Systems Source. The EMMES Group of Companies represented itself in the transaction.

“This lease an example of the increasing demand we are seeing for high quality office space in Orange County,” said EMMES Managing Director Robert Shibuya (middle right photo).  “We continue to see interest from prospective tenants seeking to secure long term facilities requirements in premier office tower buildings like The Michelson.”

Located in the heart of Orange County at the southeast corner of Jamboree Road and the 405 Freeway, The Michelson is a 19-story tower offering panoramic views of the Pacific Ocean, San Gabriel Mountains and Orange County skyline, and is currently more than 80 percent leased to several high profile tenants including Hyundai Capital America, Bryan Cave, Gibson Dunn, Greenberg Traurig and Jones Day. 

Since 1992, The EMMES Group of Companies on behalf of its affiliated entities, capital partners and investors, has acquired and managed more than 35 million square feet of retail, office, industrial and multifamily property types. The company's current portfolio includes encompasses nearly 10 million square feet located in 19 states.

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

New Faces at Grubb & Ellis

Lynda Gallagher Joins Grubb & Ellis Landauer Valuation Advisory Services as Senior Managing Director, Midwest

 CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Lynda Gallagher (top right photo) has joined Grubb & Ellis Landauer Valuation Advisory Services as senior managing director, Midwest.

 In this role, Gallagher is responsible for the firm’s business development and expansion throughout the Midwest, including Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.  In addition, she will direct recruiting and oversee the local managing directors within the region.

“Lynda is known in our industry as someone who is strategic and proactive in serving her clients, and she shares our commitment to delivering insight that helps clients make better decisions about their real estate throughout the ownership cycle,” said Doug Haney, president, Grubb & Ellis Landauer Valuation Advisory Services.  “I couldn’t be more pleased that Lynda has joined us to build our presence in the Midwest.”

 With more than 20 years in the appraisal and valuation business, Gallagher joined Grubb & Ellis from CB Richard Ellis where she was vice president,

The company is looking for experienced appraisal professionals throughout the country.  To learn about career opportunities and apply for a position, visit www.grubb-ellis.com/joinlandauer

Contact: Erin Mays, Phone: 312.698.6735.
 Robert Cook  Hired as Senior Vice President, Corporate Services in San Jose Office

 SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm announced that Robert Cook (middle left photo) has joined the company as senior vice president, Corporate Services, based in the company’s San Jose office. 

 A 30-year industry veteran, Cook brings extensive corporate real estate finance experience to Grubb & Ellis. 

 He will lead the suite of services designed to help corporate real estate departments respond to the Financial Accounting Standards Board’s pending lease accounting changes, which are expected to have far-ranging implications for companies and how they manage their real estate portfolios.

 In addition, Cook will expand the company’s Corporate Services relationships throughout the San Francisco Bay Area.

 “As a veteran corporate real estate professional, Bob brings a wealth of corporate real estate and workplace strategies experience.  His addition reinforces Grubb & Ellis’ commitment to knowledge leadership in the corporate sector,” said David Susoreny, executive vice president, Corporate Services. 

 “Bob’s unique background and recognized expertise in FASB transformation provides him a unique ability to impact our client segment quickly with value additive programs.”

 “Bob’s extensive experience and deep skill set brings even more corporate knowledge to our clients in the Silicon Valley and Northern California,” said Dick Scott, managing director of Grubb & Ellis’ San Jose office.  “We could not be more pleased to have him on board.”

 Contact: Julia McCartney, Phone: 714.975.2230,

Marcus & Millichap Sells 7,056-SF, Single-Tenant, Net-Leased Building in Tampa, FL for $1.6 Million

TAMPA, FL, Jan. 25, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Davita Dialysis (top left photo), a 7,056-square foot single-tenant net-leased property located in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $1,615,000.

The buyer, a limited liability company, was secured and represented by Benjamin Berry (middle right photo)  and Michael J. Jaworski, (lower right photo)  investment specialists in Marcus & Millichap’s Tampa office. 

Davita Dialysis is located at 11306 North 53rd Street.  

“Davita Dialysis is one of the more sought-after medical tenants in the net-lease world,” says Jaworski.  The tenant recently renovated at this location and they should be there for a long time,” adds Jaworski.

 Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Cambridge Provides $2.16 Million HUD Lean Loan to Refinance Hillsboro Rehabilitation and Health care Center in Illinois

 CHICAGO, IL--Cambridge Realty Capital Companies reports closing on a $2.16 million FHA-insured HUD LEAN loan that refinanced the Hillsboro Rehabilitation and Health Care Center (top left photo), a 107-bed skilled nursing facility in Hillsboro, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 26-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois for the owner, a Missouri limited liability company. The interest rate was not disclosed.

Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611