Thursday, February 10, 2011

NAI Realvest Negotiates New Lease Agreement with Nemours at La Vina Marketplace in Southeast Orlando

MAITLAND, Fla. --- NAI Realvest recently negotiated a new lease agreement with Nemours for 7,099 square feet of office space at La Vina Marketplace (above centered rendering), 9145 Narcoossee Rd. in southeast Orlando.

Senior Associate Mary Frances West (middle right photo), CCIM negotiated the transaction representing the landlord, Orlando-based Ripley’s International LLC.

The tenant, who already occupies 5,246 square feet for its Nemours Children’s Hospital Preview Center on the first floor of La Vina Marketplace, is expanding into second floor suites A200, 201, 202 and 206.

 The expansion will bring the total square footage Nemours occupies to 12,345 square feet at the La Vina Marketplace.  Mickey Hage of Mickey Hage, Inc. represented Nemours in the transaction.

For more information, contact

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989;
Patrick Mahoney, Chief Operating Officer NAI Realvest, 407-875-9989
Beth Payan, Larry Vershel Communications, 407-644-4142

Marcus & Millichap Lists $11.6 Million Multifamily Property in Cincinnati, OH

CINCINNATI, OH, Feb.10, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Ashley Woods (top left photo), a 352-unit, 314,880-square foot multifamily property in Cincinnati.

The listing price of $11,650,000 represents $33,097 per unit, and $37 per square foot.

 Scott Harris, a senior vice president investments, and Kyle Shoemaker, a multifamily property investment specialist, both in the firm’s Oak Brook office and in Cincinnati, are representing the seller, Ashley Woods Limited Partnership, an affiliate of the Haley Real Estate Group LLC, based in Omaha, Neb.

“Ashley Woods offers potential buyers the opportunity to acquire a well-maintained and well-occupied apartment complex serving low- to moderate-income tenants in northwest Cincinnati,” says Kurt Shoemaker.

The property is located at 2300 Walden Glen Circle in Cincinnati near Interstate 275.

 Built in 1970 on 23.9 acres, Ashley Woods has a variety of garden-style and townhouse floor plans. The unit mix includes 32 one-bedroom garden units, 108 two-bedroom/two-bath garden units, 176 two-bedroom/two-bath townhouse units and 36 three-bedroom/two-bath garden units.

Apartments at Ashley Woods contain fully equipped kitchens, washer and dryer connections, private patios/balconies and an abundance of closet space. Community areas include on-site laundry facilities, an outdoor pool, basketball courts and on-site management.

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

Wells REIT II Signs Toyota Motor Credit Corp. to Lease Extension in Suburban Phoenix

NORCROSS, GA– Wells Real Estate Investment Trust II has signed a lease extension with automotive financial services firm Toyota Motor Credit Corporation in suburban Phoenix. 

Toyota has occupied the entire 133,317-square-foot building at One San Tan Corporate Center (top left photo) in Chandler since its expansion in 2006.  Wells REIT II, owner of the building, has now extended Toyota’s lease for an additional five years and five months, until April 2017.  Terms were not announced.

“Toyota is a valued tenant in our portfolio, and this renewal enables us to maintain that relationship while continuing to provide long-term solutions for their real estate requirements,” said Kevin Hoover (middle right photo), Managing Director of Real Estate.  Toyota was represented by Wade and Rhonda Clark with Jones Lang LaSalle.

Toyota Motor Credit Corporation is a leading provider of automotive financial services, offering an extensive line of financing plans and vehicle and payment protection products to Toyota, Lexus and Scion customers and dealers in the U.S.

Currently, the Wells REIT II portfolio includes 92 office buildings in 24 states, Washington, D.C., and Russia, covering more than 22 million square feet.  Wells REIT II closed to new investments on June 30, 2010.  For information on Wells REIT II, visit

Media Contact: Margot Olcay, Rubenstein Associates, (212) 843-8284

HFF closes $220 million in multi-housing sales in Southern California

 IRVINE, CA - HFF  has closed the sale of four multi-housing communities totaling 1,123 units and $220 million in Southern California.  The properties include: 416 on Broadway in Glendale, The Hills at Valencia in Valencia, Waterstone Carlsbad in Carlsbad and Emerald Ridge in Hacienda Heights.

The HFF investment sales team was led by Sean Deasy (top right photo), co-head of the firm’s national multi-housing investment sales group.  All four transactions closed within the last 45 days.  Individual property and sale details are included below: 

416 on Broadway , 412 E. Broadway, Glendale, 115 units, closed  2/20/2010.

The Hills at Valencia (middle left photo), 28100 Smyth Drive, Valencia, 208 units, closed 1/5/2011

 Waterstone Carlsbad (middle right photo), 2320 Via Clemente, Carlsbad, 450 units, closed 1/6/2011

 Emerald Ridge, 2401 S. Hacienda Blvd, Hacienda Heights, 350 units, closed  2/1/2011

“These recently closed transactions signify the diversity and depth of HFF’s national multi-housing investment sales group’s reach throughout Southern California,” said Deasy. 

Further demonstrating HFF’s expanding multi-housing platform in the West, the firm announced that it has been hired as the exclusive listing agent by a Southern California-based operating partner and New York-based private equity firm to market the Oasis at Waipahu), a 406-unit townhome community, 16 miles northwest of Waikiki in Oahu, Hawaii.  Offers are due in late February.

Sean P. Deasy, Ca. Lic. # 00914616, HFF Senior Managing Director 
Co-Head National Multi-Housing IS Group,  (949) 253-8800,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500