Monday, March 28, 2011
ORLANDO, FL /PRNewswire via COMTEX/ -- Winter Park Construction (WPC), (www.wpc.com), one of Orlando's leading locally owned construction companies, has broken ground on University House Central Florida (UCF), an off-campus student housing project located one half-mile from Orlando's University of Central Florida campus.
The 416-unit project is expected to be completed in August 2012 and will create 400 jobs.
University House Central Florida is located on 10 acres at 3100 N. Alafaya Trail, offering easy access to university and city shuttle systems at the University of Central Florida. The one-, two-, three- and four-bedroom apartments range in size from 500 -1,600 square feet. All units will be fully furnished.
University House Central Florida will offer state of the art student-oriented amenities including a large pool and patio deck, fitness center, sand volleyball, basketball court, putting green, clubhouse with multi-media lounge and parking garage.
With more than 20,000 units constructed throughout the country, WPC has a solid reputation in student housing construction. Prior projects include: Hawks Landing, Tampa; Northgate Lakes, Oviedo; and Countryside at The University and University Terrace, both in Gainesville.
The development/management company for University House Central Florida is Dallas-based Inland American Communities (http://www.inlandac.com), one of the nation's leading development, acquisition and management organizations dedicated to the creation of apartment communities in urban-infill and university markets.
The project architect is Humphreys & Partners (http://www.humphreys.com), an urban planning, master planning and land planning firm.
For more information contact Winter Park Construction at 407.644.8923 or visit http://www.wpc.com/
834 Inman Village Pkwy, Suite 150
Atlanta, GA 30307
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The HFF team representing the borrower was led by senior managing director Riaz Cassum and director Greg LaBine (middle right photo).
“The combination of credit quality, prime location and strong sponsorship made this an attractive loan opportunity for PNC Bank,” said Cassum. ”The borrower was pleased with the professional execution on the part of PNC Bank.”
50 and 60 Sylvan Road are located within the 54-acre Reservoir Woods East Campus (top left photo) adjacent to the Cambridge Reservoir, and close to Route 128/Interstate 95, Route 2 and The Massachusetts State Turnpike in Waltham.
The properties include a two-story office/R&D building with 137,928 square feet, plus a 63,000-square-foot, Class A office building completed in December 2010. Both buildings are fully leased to Verizon Laboratories. The tenant has access to a full-service cafeteria, an internal conference center and an on-site credit union.
Davis Marcus Partners is a venture between The Davis Companies and Marcus Partners. Its affiliates own and operate a portfolio of real estate in excess of four million square feet valued at more than $1.0 billion.
Prudential Real Estate Investors is the real estate investment management business of Prudential Financial (NYSE: PRU).
Riaz A. Cassum, HFF Senior Managing Director, (617) 338-0990 email@example.com
Gregory F. Labine, HFF Director, (617) 338-0990, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
Last year the firm represented lenders in deals with more than $50 million, and Bull Realty has emerged as the go-to brokerage firm for lenders with distressed assets.
“We were doing REO deals before they were cool,” said Michael Bull (top right photo), founder and president of Bull Realty. “We are the smartest and most aggressive marketers of these properties, and we get results for our clients.”
Bull helped solidify its leadership position in the marketing of REO and distressed assets by closing a couple of major transactions. In 2010, Bull negotiated the sale of 5,690 acres of raw land in Phoenix. The sale, which was done in two transactions, totaled more than $36 million – or 20 percent more than the properties’ appraised value.
Bull was chosen to market the property by Peoples Bank of Winder, the lead bank handling the foreclosed property. Bull beat out several national brokerage firms to win the assignment.
When asked why the bank chose Bull, Peoples Bank CEOChris Maddox (lower left photo), said, “Because the property needed better marketing than the national firms could provide.”
Contact: Midd Read, email@example.com
Brandon Duff and Brad Feller of Stan Johnson Company represented the seller, a Houston based developer. Jim Gibson of Stan Johnson Company represented the buyer in the transaction.
Contact: David Ebeling, Ebeling Communications, (949) 278-7851
ONTARIO, CA, Mar. 28, 2011 — Jones Lang LaSalle represented Lava DS in a 266,508-square-foot industrial lease expansion at Ontario Gateway West (top left photo), a four-building, 1,386,687-square-foot, industrial park in Ontario, Calif.
Lava DS now occupies the entire 428,827-square-foot building located at 1495 E. Locust Street which serves as the company’s West Coast distribution hub.
Jones Lang LaSalle’s Southern California Industrial Tenant Representation Team of Executive Vice Presidents Tim O’Rourke and Mike Fowler along with Jones Lang LaSalle’s Global Ports and Airports leader John Carver (lower right photo) represented Lava DS in the transaction.
The property owner, James Campbell Company, was represented by Kevin McKenna of CB Richard Ellis.
“The Inland Empire accounted for one third of all industrial absorption in the United States in 2010,” said O’Rourke. “Despite this increased level of activity, we were able to negotiate this transaction at favorable terms allowing our client to expand their business and services.”
Located in the Inland Empire industrial market, Ontario Gateway West features a clear height of 32 feet, 56 dock-high loading doors, and 80 trailer storage spots.
For further information, please visit our website, http://www.joneslanglasalle.com/
Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351
(c) 949.278.7851, firstname.lastname@example.org
LOS ANGELES, CA – HFF announced today that it has arranged a $65 million refinancing for 5900 Wilshire (top left photo), an iconic 31-story, 452,764-square-foot office tower centrally located at the intersection of Los Angeles’ entertainment, cultural and business districts in the Miracle Mile.
HFF worked exclusively on behalf of a joint venture between Prudential Real Estate Investors and The Ratkovich Company to secure the five-year, 5.72 percent fixed-rate loan provided by AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors.
The loan is replacing a maturing loan that HFF procured for the borrower when it purchased the property in 2005.
As one of Los Angeles’ preeminent business destinations, 5900 Wilshire, also known as the Variety Building, is home to some of the city’s most notable media and entertainment companies including Variety, Los Angeles Magazine, The New York Times’ Los Angeles bureau, 100.3 FM “The Sound”, Millennium Entertainment and more.
Located across from the Los Angeles County Museum of Art in Los Angeles’ Miracle Mile district, 5900 Wilshire’s central location makes it an integral part of the city’s creative, entertainment and media communities.
Designed by the legendary William Pereira in the late 1960s, 5900 Wilshire was acquired by The Ratkovich Company in partnership with Prudential Real Estate Investors in December 2005.
In December 2008, venerable Hollywood trade paper Variety moved its West Coast headquarters and operations to 5900 Wilshire and took its place as the building’s marquee tenant; placing its recognizable name in red lighting atop the tower.
Following a $34 million renovation in 2008, 5900 Wilshire is the new headquarters for all innovative, successful entertainment and media companies in the Miracle Mile.
5900 Wilshire is the recipient of both the Building Owners and Managers Association of Greater Los Angeles Office Building of the Year award and the 2009 Renovated Building of the Year from the Los Angeles Architectural Awards. For more information, visit www.5900wilshire.net.
The HFF team representing the borrower was led by senior managing director Paul Brindley (middle right photo) and director John Crump (lower left photo).
For more information, visit http://www.ratkovich.net/
Paul Brindley, HFF Senior Managing Director, (310) 407-2100, email@example.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500
Grubb & Ellis Represents Ashley Capital in over 870,000 SF of New Leases at Brownstown Business Center in Southfield, MI
SOUTHFIELD, MI (Mar. 28, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that it represented Ashley Capital in 872,478 square feet of new leases at Brownstown Business Center (top left photo) in the past 45 days.
Dan Labes, senior vice president, Global Logistics, and Jim McClowry, senior vice president, Industrial Group, facilitated the transactions.
In the largest of the transactions, MTU Detroit Diesel, a designer and manufacturer of medium and heavy-duty diesel engines, leased 395,000 square feet of warehouse/distribution space at 19771 Brownstown Center Drive.
Grubb & Ellis’ Tony Avendt, associate vice president, Industrial Group, represented MTU in the transaction.
In addition, Cabot Street, a third-party logistics provider, leased 363,756 square feet of space at 20501 Pennsylvania Road, and Federated Group Services, a sales and marketing company serving the grocery, foodservice, drug and convenience store industries, leased 61,000 square feet of space at 19771 Brownstown Center Drive.
Marketing and Industrial Solutions Corporation, a provider of supply chain and manufacturing solutions, leased 52,722 square feet of space at 19881 Brownstown Center Drive.
“Activity in the logistics sector is picking back up, led by Class A warehouse facilities like Brownstown Business Center,” said Labes. “We’re pleased to have partnered with Ashley Capital in these transactions.
Located in Brownstown Township, Brownstown Business Center features high-density storage capabilities with 32’ minimum clearance height and wide column spacing, as well as state-of-the-art features, including ESFR Sprinklers, high-capacity electrical service and energy-efficient halide lighting.
The park offers ample truck parking and I-75 visibility and access.
For leasing information, contact Labes at 248.357.6578.
Contact: Erin Mays, Phone: 312.698.6735
ST. PETERSBURG, FL, Mar. 28, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Welk Arms (top left photo), a 41-unit apartment property located in St. Petersburg, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.
The asset commanded a sales price of $1,050,000.
The asset commanded a sales price of $1,050,000.
The buyer, a limited liability company, was secured and represented by Regan, Carriera and Meoli.
Welk Arms was built in 1971 and is located at 4701 68th Street North, a few miles northwest of downtown St. Petersburg. The property is concrete block constructed and offers both one and two-bedroom floor plans.
This garden-style community consists of six single-story buildings on approximately 2.5 acres.
“Despite the buildings’ challenges, we were still able to generate multiple offers and close within the time frames under the original contract,” says Carriera
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
Michael Fess, President of Equity Partners Inc., and Faith Thompson, Leasing Manager, represented the Landlord, Alafaya Corporate Center, LC and Mary Frances West of NAI Realvest represented the Tenant.
Equity Partners negotiates over 6,000 square feet of Leases at University Science Center
ORLANDO, FL – Equity Partners negotiated a lease expansion with Katmai Government Services, LLC for 3,343 square feet of office space and negotiated a lease renewal expansion with Hostdime.com, Inc. for 2,858 square feet of office space at 12001 Science Drive in the University Science Center in East Orlando.
Michael Fess, president of Equity Partners Inc., and Faith Thompson (lower left photo), Leasing Manager, negotiated the transaction representing the landlord, University Science Center, Inc.
Faith Thompson, Leasing Manager, Equity Partners, Inc.,
Licensed Real Estate Broker, 20 North Orange Avenue, Suite 605, Orlando, Florida 32801; 407.660.4949 phone; 407.808.2656 cell;