Wednesday, March 23, 2011

Marcus & Millichap Sells 131-Room Hotel in Tucson, AZ for $1 Million


 TUCSON, AZ,  Mar. 23, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Executive Inn & Suites (top left photo), a 131-room hotel located in Tucson, Ariz., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

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

Jonathan S. Ruprai, a hospitality investment specialist in Marcus & Millichap’s Tampa office, along with Aseem Tandon, a hospitality investment specialist in the firm’s Ontario office, had the exclusive listing to market the property on behalf of the seller, a financial institution. 

The buyer was secured and represented by Ruprai and Tandon.  David Guido, broker, assisted in closing this transaction.

Executive Inn & Suites is an interior corridor, full service hotel, built in 1960 and located at 333 West Drachman Street.

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

D & A Building Services Wins New Contract with ITT Tech in Lake Mary, FL

LONGWOOD, FL— D & A Building Services Inc. has secured a long-term contract with ITT Technical Institute for facility maintenance services at the private college’s Lake Mary, Fla., campus.

Under its scope of services, D & A is providing full-service janitorial, window cleaning and floor refinishing services for the one-story, 32,000-square-foot building on 1400 International Parkway, Lake Mary, Fla.
For additional information, please visit

PR Contact: Elaine Ingra, (407) 384-1344

C&W announces sale of World Quest Resort Near Disney in Orlando

Orlando, FL – Cushman & Wakefield of Florida, Inc. announces the sale of WorldQuest Resort (top left photo), consisting of 96 unsold units plus 9.29 developable acres, pool, and amenity center.

The property was owned by REDUS Florida Condos, which was represented by Cushman & Wakefield Senior Director of Land Brokerage, Margery Johnson, CCIM, CIPS.

Buyer WQ Hotel Management, LLC paid $12,000,000 in the transaction, which closed on March 10.  The property is located within the World Gateway DRI, near the entrance to Walt Disney World.

"We are pleased with this sale, which is an indication of the improving prospects for Orlando tourism," said Johnson.

Contact:  Brook Hines,  Tel: 407-541-4401,

Berger Commercial Realty Corp. Announces Several New Leases

FORT LAUDERDALE, FL– Commercial real estate brokers Judy Dolan (top right photo) and Joe Jarkesy (lower left photo) of Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced several new lease transactions.

 Dolan and Jarkesy represented landlord  4811 Lyons Tech Pkwy, LLC in the renewal of a lease for 1,562 square feet of space in a multi-tenant small bay warehouse, located at  4911 Lyons Technology Parkway in Coconut Creek, Fla., to tenant Butters Construction.

The pair also represented 4811 Lyons Tech Pkwy, LLC in the renewal of a lease to tenant Franz, Inc., doing business as Handyman Connection, for 1,562 square feet of space in the same building.

Dolan and Jarksey also represented landlord Merrill Industrial Center, Inc. in the lease of 4,071 square feet of space in a multi-tenant warehouse, located at 3406 SW 26th Terrace in Dania, Fla., near Fort Lauderdale's Marina Mile, to tenant KW Management, LLC.

Marielle Sologuren, Phone: (954) 776-1999, ext. 226
Fax: (954) 776-0290,

Jones Lang LaSalle Awarded Leasing of The Koll Office Building in Newport Beach, CA

 NEWPORT BEACH, CA – Jones Lang LaSalle has been awarded the leasing for Newport Beach Financial Plaza, a 54,000-square-foot Class A office building located at 4343 Von Karman Avenue in Newport Beach.

Leading the leasing efforts for the premier property are Jones Lang LaSalle Senior Vice Presidents Jay Nugent and Thomas Murphy.

“Jones Lang LaSalle was selected for this assignment because of our deep understanding and appreciation for the historical significance this building has played in the Orange County business community,” said Nugent.  “We intend on reminding the entire market that Newport Beach Financial Plaza is an Orange County landmark located in one of Southern California’s premier business destinations.

Jones Lang LaSalle was hired by the landlord, Picoco, LLC, which acquired the three-story building in 2008.

Newport Beach Financial Plaza is ideally located just minutes from the I-405 Freeway and 73 Toll Road as well as the John Wayne Orange County Airport. 

The property is adjacent to the Pacific Club, Orange County’s premier professional and business gathering venue. Newport Beach Financial Plaza can currently accommodate a single tenant on the second floor totalling 17,692 RSF. 

Other tenants in the building include The Koll Company who occupies the first floor and Picoco who occupies the third floor.

For further information, please visit our website,
Contact:  David Ebeling, Ebeling Communications, (p) 949.861.8351
(c) 949.278.7851,

Colliers International Recruits Christopher Maling and David Maling to its Downtown Los Angeles Office

LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, has recruited top senior brokers, Christopher Maling (top right photo) and David Maling (middle left photo), aka The Maling Brothers, in Downtown Los Angeles. They both specialize in investment sales.

 “Chris and David bring more than 35 combined years of experience in commercial real estate,” said Martin Pupil (lower right photo), regional managing director for Colliers’ Greater Los Angeles operations. “They will be a great asset to our growing full-service platform.” 

Chris Maling will serve as senior vice president. He has successfully listed and sold apartment buildings, retail shopping centers, office buildings and industrial office warehouse properties throughout Greater Los Angeles.

 Additionally, he has extensive experience with 1031 tax-deferred exchanges, foreclosures and Chapter 7 and Chapter 11 bankruptcies. Previously, he was with Marcus & Millichap in Los Angeles where he won their sales recognition awards virtually every year since 1993.

 David Maling will also serve as senior vice president. He specializes in asset management, leasing activity management and disposition and acquisition of investment real estate.

Prior to joining Colliers, he was with Marcus & Millichap where he was awarded the Marcus & Millichap’s “Rookie of the Year” award in his first year of joining its Los Angeles office.

He was also ranked as one of the top 20 agents in the Marcus & Millichap’s Los Angeles office since 1998.  David Maling is a court-appointed receiver, Certified Property Manager (CPM), and Accredited Residential Manager (ARM). 

 Both Chris and David Maling were Marcus & Millichap’s Top 20 Producers nationally in multi & single tenant retail and recipients of Marcus & Millichap’s Top Closing Agent in 2010 with 65 transactions. In total, they have closed more than $1 billion in sales during their combined commercial real estate career.

“The Maling brothers bring incredible added depth to the downtown Los Angeles Office.  Both our retail and office investment capabilities will be significantly enhanced,” said Hans Mumper (lower left photo), managing director for Colliers International’s Downtown Los Angeles office.

 Contact: Angela S. Hwang, Regional Marketing Coordinator | Greater Los Angeles.
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258