Monday, February 14, 2011

The Dow Hotel Company Adds Eighth Basil’s Kitchen Branded Restaurant at Embassy Suites Seattle-Tacoma International Airport

 SEATTLE, WA, Feb. 14, 2011—Officials of The Dow Hotel Company, LLC (DHC), a hotel ownership investment and management company with in-depth restaurant expertise, today announced that it has acquired the lease on Basil’s Kitchen restaurant (top left photo) located in the Embassy Suites Seattle-Tacoma International Airport (SeaTac) (middle right photo), in Seattle. 

DHC said it will invest nearly a half-million dollars to upgrade the 158-seat facility.

The facility is the eighth Basil’s Restaurant and its first free standing restaurant in a hotel.  Concurrently, the company said that it is exploring the possibility of growing the Basil’s Kitchen restaurant concept nationwide and doubling in size by 2012.
 “This is the next logical step in the evolution of the highly successful Basil’s Kitchen concept,” said Murray Dow (middle left photo), CEO, DHC.

 “We created the concept in 1999 and now have eight restaurants opened under the brand.  We have reached the size and have the systems and standards in place to begin operating the brand outside of our hotels, and believe that the growth of the concept offers some attractive opportunities.”

DHC took over management of the restaurant, converting it to the Basil’s Kitchen concept in mid-January 2010, while working out a long-term lease agreement at the start of 2011.  During its first year under the Basil’s Kitchen concept and DHC’s management, the restaurant’s covers increased 38 percent, revenues rose 26 percent and profits improved 74 percent.

Basil’s Kitchen, named for Dow’s mentor in the hotel industry, Basil Miaullis, features Mediterranean-style cuisine with fresh, local ingredients.  The concept can be configured as Basil’s Kitchen, which features a more traditional restaurant menu, or Basil’s Bistro, which features small plate offerings, geared to a younger traveler.  Signature items include Scallops Mornay, Steak Vesuvio and Capellini Bianchini, as well as fresh local ingredients.

 Additional information about The Dow Hotel Company may be found at

Contact:  Jerry Daly, Chris DalyGray. Phone: (703) 435-6293

Single-Tenant Properties Popular With Investors

        From left, Virginia Wright, Brad Thomas, Michael Bull, Randy Gold

ATLANTA, GA, Feb. 14, 2011 – While single-tenant properties make up 10 percent of the commercial real estate market, they are currently accounting for 18 percent of sales.

 Experts on “The Commercial Real Estate Show” say that’s because investors like the ease of managing the properties. Investors also like that the deals carry a relatively low financial risk, especially with a tenant that has a high credit rating.

Chris Macke of CoStar Group shared the stats on the most recent episode of the “Commercial Real Estate Show,” a radio show hosted by Michael Bull  (middle right photo)  on Biz 1190 WAFS in Atlanta that is available for download at

Macke said many small investors are looking for alternative investments to bonds. Smaller investors may like retail deals with tenants such as CVS or Family Dollar, while large investors prefer bigger plays, such as the recent sale of CoStar’s headquarters in Washington.

Other guests echoed Macke’s analysis.

Virginia Wright of Bull Realty said investors call net-leased properties SWAN investments, or “sleep well at night” investments, and Brad Thomas, a net leased developer and consultant, called single-tenant net leased properties a“safe asset class.”

The next “Commercial Real Estate Show”will air Feb. 19 and will focus on the national Real Estate Investment Trust market.

Guests will include Brad Case (middle left photo) vice president, research and industry information at the National Association of Real Estate Investment Trusts; Jonathan Miniman (lower right photo), senior vice president and senior analyst at INGClarion Real Estate Investment Management; and Steven Marks (lower left photo), managing director,REITs, at Fitch Ratings.

The “Commercial Real Estate Show” is America’scommercial real estate talk radio show.

The show is known as an entertaining and enlightening resource about commercial real estate.

 The show airs every Saturday morning at 10AM EST online at the show website, and on air on Biz 1190 WAFS in Atlanta. Show podcasts are available on-demand at any time worldwide on iTunes and on the show website.

The “Commercial Real Estate Show”has quickly gained a national and international audience. Each show starts with a commercial real estate market update related to the show topic by well-known national experts.

Then the show host and a panel of three to four industry expert guests share information, insight and best practices related to eachshow’s main topic.

The show host is 30-year commercial real estate veteran Michael Bull, CCIM, the president and founder of commercial brokerage firm BullRealty, Inc.

Contact: Laura Dudebout, (678) 642-4301,

Gaedeke, Hodas Law Firm Ink 8-Year Lease

WEST PALM BEACH, Fla. – Attorney Benjamin T. Hodas (lower left photo) has signed an eight-year lease for a 3,230-sf office with ocean views in the class A Northbridge Centre (top left photo) in downtown West Palm Beach. Occupancy is planned for mid-March.

"I looked at two or three other buildings, but I kept coming back to Northbridge Centre, given its proximity to the courthouse and the views from my office," Hodas says. "At the end of the day it's the best class A space in West Palm Beach."

The lion's share of Northbridge Centre's tenant roster is law firms, which are drawn to the high rise because it's within walking distance of the Palm Beach County Judicial Center complex.

The 21-story high rise at 515 N. Flagler Dr. is owned by Dallas-based Gaedeke Group LLC.

Gaedeke's vice president of leasing, Kirk Fetter (middle right photo), represented the landlord. Susan Thomas of Touchstone Webb Realty Co. in West Palm Beach negotiated for the tenant.

Hodas' seventh-floor office space is requiring minimal finish-out. The most significant change is the addition of a four-by-six-foot glass opening, featuring a Scales of Justice etching, to capitalize on the office's view of the Intracoastal Waterway and Atlantic Ocean. The law firm is gaining 2,030 sf with the relocation from 301 Pine St.

"The space is comfortable and will provide me with a little room for growth," says Hodas, who is managing member of a "Marital and Family Law" firm that he launched in March 2010.

Hodas, a 2009 and 2011 Super Lawyers Florida Rising Star, was admitted to the Florida Bar in 2002 and immediately began his career as an associate in the family law firm of Martin L. Haines III, becoming a partner within four years. He later joined Fisher & Bendeck, P.A. in West Palm Beach before opening his own firm. Hodas' practice is focused on complex high net-worth divorces.

For additional information, please contact Kirk Fetter, 561-515-7407

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Arbor Realty Trust Promotes Gianni Ottaviano To Senior Vice President, Structured Finance

Uniondale, NY (Feb. 14, 2011) - Arbor Realty Trust, Inc. (“Arbor”) announces the promotion of Gianni Ottaviano (top right photo) to Senior Vice President, Structured Finance.

Mr. Ottaviano previously held the title of Vice President, Structured Finance. He reports to Fred Weber (middle left photo), Executive Vice President, Managing Director of Structured Finance & Principal, Transactions.

 In this new position, Mr. Ottaviano will now be responsible for structured finance production management, including the screening process and oversight of team members, as well as deal management on a more comprehensive level.

 During Gianni’s nearly 12-year-long tenure with Arbor, his hard work and dedication has supported his growth and elevation within the Structured Finance Group.

Over the years, he has taken on a variety of increasingly vital roles within the structured loan production process, including transaction screening, underwriting, deal management, borrower relationship management, closing and asset management.

 Through his strong work ethic and track record, he has exhibited a dedication and willingness to support Arbor’s entrepreneurial culture, often utilizing his knowledge and expertise to assist in various areas of discipline within the company.

 “As Arbor’s structured finance origination volume is expected to increase moving forward, I am very confident that Gianni’s expertise and skill level, paired with his hard work and dedication, will successfully support the strong return of our business platform,” Weber said.

Mr. Ottaviano began his real estate industry career with Arbor in 1999 after working for five years in the accounting group at Ford Models.

 Mr. Ottaviano earned a Master of Business Administration degree from Hofstra University. He also received a Bachelor of Science degree from St. John’s University. He resides in Massapequa, NY.

Contact:  Christopher Ostrowski,

Childress Klein Picked to Lease, Manage Terrace Park

Firm Marketing Class A Medical Office Building in Gwinnett County

ATLANTA, GA (Feb. 14, 2011) – Childress Klein Properties announced today it has taken over leasing and management of Terrace Park Medical Center (top left photo) , a medical office building one block south of Gwinnett Medical Center (top right photo).

An affiliate of Wells Fargo hired Childress Klein for the assignment, according to Gordon Buchmiller (middle left photo), managing partner of the firm’s Atlanta office. Terrace Park is a Class A medical office building completed in 2007.

The new assignment expands Childress Klein’s presence in the development, management and leasing of medical office buildings and healthcare industry properties.

In Atlanta’s North Fulton submarket, Childress Klein developed Preston Ridge Commons (middle right rendering) medical office condominiums and manages Jackson Healthcare’s building on Northwinds Parkway.

The assignment also reflects Childress Klein's growing role in the management and leasing of bank-owned properties.

Terrace Park is a three-story, 130,000-square-foot building at 771 Old Norcross Road. The building is about 50 percent leased.

“Terrace Park’s location, high-quality finishes and proximity to Gwinnett Medical Center make it an attractive option for physician practice groups and healthcare companies,” Buchmiller said.

Terrace Park is a state-of-the-art medical office building that can accommodate small and large practice groups and companies that work with and serve them. The building offers abundant surface parking for patients and tenants and reserved parking for physicians.

Contact: Tony Wilbert, Wilbert News Strategies, 404-888-3091,