Thursday, March 3, 2011

Hunter Realty Transacts Three Hampton Inn & Suites for $26 Million

 ATLANTA,  GA,  Mar. 3, 2011—Officials at Hunter Realty today announced the firm represented the sellers of three properties in three separate transactions. 

The transacted hotels are the Hampton Inn & Suites Dallas/Arlington-South, in Texas; the Hampton Inn & Suites Pine Bluff, Ark.; and the Hampton Inn & Suites Texarkana, Texas.  The aggregated price of the three hotels was $26 million.

“These are premium-branded properties in ‘like-new’ condition with an average age under three years old, which means they will require minimal product improvement plan investments,” said Teague Hunter (top right photo), president, Hunter Realty.

 “We have seen the volume of properties coming to market increase substantially over the past five months, including conventional and distressed assets. 

“Concurrently, we’ve seen a sharp rise in activity from special servicers and lenders, which seems to indicate they are ready to begin selling after a period of ‘delay and pray.’  More and more hotels’ performance have begun to improve and the bid/ask spreads have narrowed thanks to give and take on both sides.
 “Owners now feel they are receiving a better price and buyers recognize the good value they are acquiring.  All are positive signs of a rebounding hotel environment.”

Lee Hunter (middle left photo) chief operating officer, Hunter Realty, noted that the firm’s nationwide office network played an important role in listing and selling the properties.

“It was a team effort with Gary Mills (bottom right photo), who heads up our Dallas office, as the team leader on all of these transactions,” said Lee Hunter. 

“Gary had a deep understanding of the owners, their needs and the local markets.  This helped him to conclude transactions that were mutually advantageous for both buyers and sellers.”

Contact:    Patrick Daly, Jerry Daly,  media, (703) 435-6293,

HFF closes sale of west Houston multi-housing community


HOUSTON, TX –HFF announced today that it has closed the sale of The Pathway (top left photo) , a 144-unit multi-housing community in west Houston, Texas.

HFF marketed the property on behalf of the seller, The Milestone Group.  Hudson Capital Investments purchased The Pathway for an undisclosed amount. 

The Pathway is situated on nearly six acres at 2901 Elmside Drive close to the Sam Houston Tollway in west Houston.  The property is 94 percent leased and units average 969 square feet each.

The HFF team that represented The Milestone Group included senior managing directors Craig LaFollette (lower right photo), Todd Stewart and Todd Marix, director Tre Banks and associate director Chris Curry.

 The Milestone Group is a vertically integrated real estate investment and management platform with more than $2.5 billion of multifamily assets under management, representing in excess of 45,000 units nationwide. 

The firm has corporate offices in Dallas and New York and eight regional offices throughout the United States employing more than 1,000 personnel.

Hudson Capital Investments is a Charleston, South Carolina-based multi-family investment firm headed by Lenny Blevins.

J. Todd Stewart, HFF Senior Managing Director, (713) 852-3500
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,                                             

Colliers International Directs Four Retail Sales Totaling $11.25 million in Greater Los Angeles and Nevada

LOS ANGELES, CA  – Colliers International, the second largest global real estate services organization, has completed four retail sales totaling $11,250,000 million in greater Los Angeles area. Jereme Snyder (top right photo), senior vice president in Colliers International’s Irvine office, closed all four sales.

 ---The sale of a 25,825-square-foot retail building located at 18527 Yorba Linda Blvd. in Yorba Linda, Calif. to a private Orange County-based investor. The transaction is valued at $5,250,000. The property has been leased to Stater Bros. since 1975 and recently executed a new 10-year lease extension.

---The sale of a 2,360-square-foot retail building located at 308 Abbot Street, Salinas, Calif. to a private investor. The transaction is valued at $660,000. This single tenant 7 eleven had a corporate guaranteed NNN lease, and is located at the Southwest corner of Abbot Street and Maple Street. Snyder represented both the seller, Evercore Trust Company and the buyer.

---The sale of a 42,289-square-foot retail building located at 9155 Jurupa Road Riverside, Calif. The transaction is valued at $3,000,000. Snyder and Robert Hoyt, senior vice president based in Collier International’s Irvine office, represented the seller, and the private local buyer represented themselves. This property is the 13th single tenant Stater Bros Market Snyder and Hoyt have sold for Vornado since 2009. 

---The sale of a 3,198-square-foot retail building located at 8660 W. Warm Springs Road,  Las Vegas, Nevada to a Calif.-based private investor. The transaction is valued at $2.340.000. Built in 2009, the property is a single tenant, free-standing brand new Carl’s Jr, with a 20-year NNN lease with 15% increases every 5 years.

Snyder is a co-founder of Colliers NNN Group, a specialized national investment team within Colliers International with more than $1 billion dollars in completed transactions.

 Contact: Angela S. Hwang
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258

Melrose-Sovereign Companies Names John Carlucci Portfolio Property Manager in Tampa

 ORLANDO, FL --- Melrose-Sovereign Companies, which ranks as one of Florida’s most active home owner and condominium association management firms, recently named John Carlucci as portfolio property manager working out of firm’s Tampa office.

Ellen Lumpkin (top right photo), LCAM, co-founder and partner at the firm with Jack Hanson, LCAM said Carlucci has more than seven years of experience in property and community management.

Melrose-Sovereign Companies manages properties for more than 170 developers, investors and owners throughout Florida. The firm now has eight offices throughout the state.

For more information, contact: 
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181,
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181,
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,

New Faces at Grubb & Ellis

RetailWorks Principal Michael Dahmer and His Entire Team Recruited for Atlanta

 ATLANTA, GA-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Michael Dahmer (top right photo), principal of the highly successful RetailWorks, and his entire team of real estate professionals have joined the company’s Atlanta office, effective immediately.

 The team’s addition greatly expands Grubb & Ellis’ retail leasing and tenant representation capabilities in Georgia.

 Dahmer joins as senior vice president, Retail Group, specializing in shopping centers and mixed-use agency leasing, tenant representation and land sales. 

Also joining the company is Michael Woodruff, senior associate, and Kellie Scrogum, associate. 

Founded in 2004, RetailWorks grew to become the sixth-largest independent retail brokerage in Atlanta and was ranked as one of Inc. Magazine’s “Fastest Growing Small Business” and part of the “Inc. 5000” from 2007 to 2010.  The team brings with them more than 1 million square feet in listings and 15 active tenant representation assignments.

 “The Atlanta retail market is positioned for growth as consumer confidence resurfaces, so the timing of the arrival of Michael and his team greatly benefits our ability to serve clients as they become active again in the space,” said Brett Hunsaker (top  left photo), executive vice president and managing director of Grubb & Ellis’ Atlanta office.

 “Michael and his team are highly regarded within the marketplace and bring many local and national retail relationships.  We’re excited to welcome them to Grubb & Ellis.”

TopTenant Representation Broker Sean Moynihan Joins Atlanta Office

ATLANTA, GA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Sean Moynihan (middle right photo)  has joined the company’s Atlanta office as senior vice president, Office Group, effective immediately. 

 “We’ve been on the other side of the table from Sean negotiating some of the largest leases in the Atlanta area, and we’ve seen the superior level of client service and integrity he brings to each transaction,” said Brett Hunsaker, executive vice president and managing director of Grubb & Ellis’ Atlanta office.  “He is a welcome addition to our growing team and adds tremendous strength to our tenant representation capabilities.”

Moynihan was most recently a managing director at Newmark Knight Frank, where he focused on tenant representation as well as national strategic planning and implementation services for corporate users. 

Contact: Erin Mays, Phone: 312.698.6735                              

Grubb & Ellis Landauer Valuation Advisory Services Opens for Business in Portland, OR and Upstate New York

PORTLAND, OR – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Grubb & Ellis Landauer Valuation Advisory Services is open for business in Portland.  The office is led by 26-year veteran Scott A. Henningsen (lower left photo), MAI, and is one of 24 offices that have opened throughout the country over the past three months. 

 “We’ve seen an incredible demand for experienced real estate appraisers with an in-depth understanding of local commercial real estate dynamics as well as the challenges presented by the current marketplace,” said Douglas Haney (lower right photo), president, Grubb & Ellis Landauer Valuation Advisory Services.

 “Having an office in Portland has been an important part of our overall business plan.  Scott’s long career as an appraiser in the local market makes him an excellent choice to build our organization regionally.”  

Prior to joining the company as managing director, Henningsen spent one year as a vice president in the Real Estate Valuation Services department of Umpqua Bank. 

 To learn more about Grubb & Ellis Landauer’s capabilities and career opportunities, visit
Contact: Julia McCartney, Phone: 714.975.2230

Leading appraisal professional Chris Harland, MAI, will lead the Upstate New York office

EAST GREENBUSH, NY – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Grubb & Ellis Landauer Valuation Advisory Services opened for business in Upstate New York.  The office, based in the Albany area, is led by Chris Harland (bottom right photo) MAI, former founder and president of Capstone Appraisal Group. 

 Harland is joined by his entire team of four appraisers from Capstone, including Mark Grant and Andrea Nazarian as senior appraisers and Stacey Godlewski and Kyle Rueckert as appraisers.

 The Upstate New York office is one of 25 now serving the valuation needs of commercial real estate owners and users as part of Grubb & Ellis’ entry into the valuation advisory business on a national scale.  Harland reports to John Brengelman, senior managing director, Northeast Region.

 Harland, who brings more than 20 years of experience in appraisal, underwriting and analysis, founded Capstone Appraisal Group in 1998 after spending five years in senior appraisal and loan underwriting roles with CB Richard Ellis and Holliday Fenoglio Fowler.  He began his appraisal career at McGrath, Basciani & Associates in 1991. 

For more information, please contact Harland at 518.479.2404.

Contact: Erin Mays, Phone: 312.698.6735