Thursday, May 12, 2011

$23 Million Office Portfolio Trades in Tennessee

FRANKLIN, TN, May 12, 2011– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 133,200-square foot office building portfolio in Franklin. The sales price of $23 million represents $173 per square foot.

Joseph Massa, a senior associate in the firm’s Nashville office, represented the seller, a local real estate partnership managed by Preston Ingram.

 Drew Babcock and Scott Taylor, net-leased investment specialists in Marcus & Millichap’s Columbia, S.C., office, represented the buyer, Windcross Realty, an Orlando, Fla.-based investment group led by Ed Wideman, president of Susquehanna Holdings Ltd.

“Both buildings are currently 100-percent occupied by United Healthcare, a subsidiary of UnitedHealth Group, which is one of the nation’s leading health care companies,” says Massa.

“The leases are absolute, triple-net and contain 3 percent annual increases, “adds Babcock.

“The Cool Springs office market is desirable for a variety of tenants because of its central location and ease of access,” concludes Taylor.

The property is located at 1009 and 1021 Windcross Court in the Cool Springs suburban business district, which is located primarily within the city of Franklin. Approximately 92 percent occupied, Cool Springs is home to 37 corporate headquarters. The portfolio’s location is near Interstate 65, approximately 10 miles south of Nashville.

Constructed in 1999 and 2004, the two buildings encompass 133,200 square feet of space.

Financing for this transaction was arranged by Wells Fargo Capital Mortgage Group of Orlando, Fla. The group is headed by Bill Lee, J. T. Tomlinson and Steve Markowski, notes Wideman.

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

Pacific Office Properties Recapitalizes City Square; Enters Joint Venture to Support Midtown Phoenix Landmark

PHOENIX, AZ  (May12, 2011) - Pacific Office Properties Trust, Inc. (NYSE Amex: PCE) has renewed its long-standing investment in Phoenix with the recapitalization of City Square (top left rendering), a collection of three Class A office towers in the midtown submarket, and one of the city’s largest and most prominent mixed-use projects.

As part of the recapitalization, Pacific Office Properties has partnered in joint venture with Angelo, Gordon & Co., a privately held investment manager with approximately $23 billion of assets under management. Together, the partners have initiated more than a dozen joint ventures and more than $950 million in total acquisitions.

Jones Lang LaSalle Managing Director John Bonnell and Vice President Brett Abramson in Phoenix are the exclusive leasing brokers.

“We have owned property in Phoenix for many years and are confident about the market’s recovery, as well as the long-term growth and viability of the Central Business District,” said Pacific Office Properties Senior Vice President Brigham Black.

“Managing and maintaining City Square as a local real estate landmark is a high priority for our company. The recapitalization of this property provides us the continuity of resources to make that happen.”

City Square is part of 1.2 million square feet of Phoenix office space owned and managed by Pacific Office Properties. The 722,000-square-foot project is located at 3800, 3838 and 4000 N. Central Avenue in Phoenix, just south of Indian School Road and along the Phoenix Light Rail line.

Amenities include a 156-room Hilton Garden Inn, 35,000-square-foot Sports Club at City Square, conferencing facility, barbershop, restaurants, dry cleaner, on-site day care and on-site banking. It also provides 24-hour guard service and management and engineering on site.

For more information, contact Brigham Black at (858) 882-9510 or , or John Bonnell at (602) 282-2656 or
 Media Contact: Stacey Hershauer, focusAZ, Marketing & Public Relations
(480) 600-0195,

Colliers International to Host Global Retail Runway at ICSC Annual Conference

SEATTLE, WA /PRNewswire/ --Colliers International announced  that senior retail specialist Jim McMasters (top right photo) has been selected by the International Council of Shopping Centers (ICSC) to serve as master of ceremonies for the Global Retail Runway at RECon, the organization's upcoming convention in Las Vegas, May 21-25.

RECon annually draws more than 35,000 retail professionals from around the world, and serves as a critical source of deal making and networking activity for the entire industry.

A 90-minute program including up to 25 of the world's premier retailers, the Global Retail Runway provides attendees--consisting of retailer professionals as well as retail real estate owners, operators and investors--the opportunity to learn about innovative and successful endeavors from a cross-section of national and international brands.

Contact:: Richard Mulieri,, or Russ Colchamiro,,  both of The Marino Organization, +1-212-889-0808

Mercantile Capital Corporation Best First Quarter Ever is Lead-in to Projected Major Loans in May

ALTAMONTE SPRINGS, FL. --- Mercantile Capital Corporation, which earlier reported its best first quarter ever in 2011 with 15 commercial property loans to finance projects that total more than $54.8 million — a 44.6 percent increase over the same period in 2010 — projects record or near record transactions scheduled for May. 

Chris Hurn (top right photo), chief executive officer of Mercantile Capital Corporation said seven commercial loans scheduled to close in May will finance real estate projects valued at more than $11.7 million in three states. Mercantile Capital Corporation closed two loans in April for projects that total more than $1.7 million in Massachusetts and Illinois.

Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, is one of the nation’s leading providers of U.S. Small Business Administration (SBA) loans for small business owners who want to acquire or develop their own facilities. Additional information about Mercantile can be found at and

For more information about this press release, contact:

Chris Hurn, CEO Mercantile Capital Corporation,,
Geof Longstaff, Chairman Mercantile Capital Corporation,,  407-786-5040
Larry Vershel or Beth Payan Larry Vershel Communications, 407-461-3780, or 407-644-4142

Zachary Scardinia Joins Cambridge Realty Capital as Junior Loan Officer and Financial Analyst

CHICAGO, IL---Zachary Scardina (top right photo), 23, has joined Cambridge Realty Capital Companies as a Junior Loan Officer and Financial Analyst, Chairman Jeffrey A. Davis has announced.

A graduate of DePaul University with a double major in real estate and finance, Scardina initially joined Cambridge as an associate in the company’s internship program in May 2010. Responsibilities in his new position will involve him directly in a variety of activities including underwriting and financial analysis, deal presentations, loan originations, and acquisitions.

At DePaul, Scardina was active in the DePaul Real Estate Organization and Alpha Kappa Psi, a professional business fraternity.

Uniquely, Davis points out that all of the company’s senior executives were originally introduced to Cambridge as associates in the company’s internship program.

Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611

HFF Houston hires Ryan West as managing director to focus on retail investment sales

 HOUSTON, TX – HFF announced today that Ryan West (top right photo) has joined the firm as a managing director in its Houston office to focus on retail investment sales transactions throughout the southwestern United States.

Mr. West joins HFF from CBRE, where he was a first vice president in the private client group since 2007. 

During this time, he was recognized as a Top Producer in their Houston office and as a Top 10 Producer within the network of brokers that make up CBRE’s Private Client Group. 

Mr. West began his career at Wulfe & Co. and later worked with Baker Katz.  He is a licensed real estate salesperson in the state of Texas and is a member of International Council of Shopping Centers.  Mr. West graduated from Texas A&M University.

“With the addition of Ryan, HFF Houston is able to expand its investment sales platform to better serve our retail clients.  We look forward to drawing upon Ryan’s expertise in the retail sector and feel he will be a tremendous asset to not only the Houston office of HFF but our national retail group as well,” said Scott Galloway (bottom left photo), executive managing director in HFF’s Houston office.

H. Scott Galloway, HFF Executive Managing Director, (713) 852-3500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

HFF represents Moore & Associates, Inc. in $17.5 million sale of 1701 and 1711 Research Boulevard in Rockville, MD

 WASHINGTON, D.C. – HFF announced  it has closed the sale of 1701 and 1711 Research Boulevard (top left photo), a 104,703-square-foot office building and 177,000-square-foot development parcel in Rockville, Maryland.

HFF marketed the property on behalf of Moore & Associates, Inc.  BioMed Realty Trust, Inc. purchased the property for $17.5 million.

1701 and 1711 Research Boulevard are situated on 13.3 acres immediately west of and visible from Interstate 270 about 15 miles northwest of Washington, D.C. in Rockville.

The HFF team representing Moore & Associates, Inc. was led by senior managing directors Jim Meisel (middle right  photo) and Dek Potts.(botom left  photo)

Moore & Associates, Inc. is an owner-managed, full-service commercial real estate investment, development and management firm serving affiliated and independent clients throughout the Washington, D.C. and Austin, Texas metropolitan areas.

BioMed Realty Trust (NYSE: BMR) is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. BioMed acquires, develops, owns and operates laboratory and office space designed to effectively support the demanding needs of a wide range of pharmaceutical, biotechnology and research institutions.

James A. Meisel, HFF Senior Managing Director, (202) 533-2500,
Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533 2500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

HFF represents Seaton Benkowski on $35.23 million sale of Class A office property within Redland Corporate Center in Rockville, MD

                                                            WASHINGTON, D.C. – HFF announced today the sale of 540 Gaither Road (top left photo), a six-story, 133,895-square-foot, Class A office property in Rockville, Maryland.

HFF marketed the property on behalf of the seller, Seaton Benkowski & Partners.  Federal Partners purchased 540 Gaither Road for $35.23 million and assumed a $25 million loan on the property.

540 Gaither Road, otherwise known as The Eisenberg Building, was completed in 2003 and serves as the headquarters for the Agency for Healthcare Research and Quality, the health services research arm of the United States Department of Health and Human Services.

 The fully leased facility is one of three buildings within the Redland Corporate Center, which is adjacent to the King Farm Development and close to the Shady Grove Metro Station and Interstate 270 in Rockville.

“Our interest in 540 Gaither Road was driven by the combination of growing scarcity of large block space in the Rockville I-270 market as well as the stability of the existing AHRQ lease through the first quarter of 2013,” said Darryl Asack of Federal Partners.  “We are optimistic that the steady improvement of this submarket will position this well-located asset to capture growing tenant demand in tightening space conditions.”

The HFF investment sales team representing Seaton Benkowski & Partners was led by senior managing directors Jim Meisel (middle right photo) and Dek Potts (lower left photo)

Founded in 1991, Seaton Benkowski & Partners, North America Inc. (“SBP”) is a boutique real estate investment and management services firm for clients around the world.  SBP specializes in the placement and management of Washington, D.C. area investments for large endowments, trusts and pension funds.  The firm invests either directly or in joint venture with operating partners and is currently seeking mezzanine and preferred equity investment opportunities in close in submarkets.

Founded in 2004, Federal Partners is a $925 million co-investment joint venture acquiring U.S. Federal Government-leased office buildings around the country and currently operates a portfolio of nearly 1.3 million square feet of assets.

For more information on Federal Partners please visit

James A. Meisel, HFF Senior Managing Director, (202) 533-2500,
Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533-2500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

James A. Wonhof Joins Grubb & Ellis as Vice President, Office Group

 DENVER, CO– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that James A. Wonhof (top right photo) has joined the company as vice president, Office Group, and member of the company’s Tenant Advisory Group. 

“Jim joins Grubb & Ellis with numerous client relationships and a successful background in tenant representation.  He is well-respected in the region and I am thrilled to have him with us,” said Mark Ballenger (lower left photo), executive vice president and managing director of Grubb & Ellis’ Denver office. 

 Wonhof joined the firm from Cushman & Wakefield, where he spent more than 10 years as a director focusing on office tenant representation and specialty dispositions. 

Previously, he spent two years with Insignia/ESG Inc. and was an associate with Cushman Realty Corporation, which later merged with Cushman & Wakefield.  During this time, he focused on tenant representation in office properties.  He began his career in 1993 with CB Richard Ellis.   

Contact: Julia McCartney, Phone: 714.975.2230                                     

Grubb & Ellis Announces Top Producers for 2010 at Annual Circle of Excellence Awards

 SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Bruce McNair (top right photo), executive vice president, Office Group, of the company’s Washington, D.C., office was the company’s No. 1 producer and top Office Group professional in 2010 for the second consecutive year.

 McNair received both honors at Grubb & Ellis’ Circle of Excellence Awards.  The annual event, which recognized more than 70 of the company’s top producers, was held May 5-7.

“Grubb & Ellis takes pride in recruiting and retaining the industry’s top talent, and our annual Circle of Excellence event is a celebration of those professionals and their significant impact on our organization,” said Jack Van Berkel, (middle left photo) president, Real Estate Services.”

For a complete copy of the company's news release, please contact:

Erin Mays, 312.698.6735,
Julia McCartney, 714.975.2230,

The company’s top Transaction Services honorees were:

1.                  Bruce McNair

2.                  Kay Davis

3.                  Joel Simmons

4.                  Howard Grufferman, Office Group, New York

5.                  David Scherer, Office Group, Las Vegas

6.                  Bradford Fletcher

7.                  Steven Roth, Debt & Equity Finance, Chicago

8.                  Thomas Miller, Office Group, Atlanta

9.                  Jim Arket, Office Group, Houston

10.              Berkman, Institutional Capital Markets, Washington, D.C.

10.              Gichner, Institutional Capital Markets, Washington, D.C.

11.              Andrew Klaff, Office Group, Tysons Corner, Va.

12.              Terry Coyne, Industrial Group, Cleveland

13.               John Linderman

14.              Joel Wechsler, Office Group, New York

15.              Chon Kantikovit, Tenant Advisory Group, Newport Beach, Calif.

16.              Barrett Stern, Office Group, New York

17.              Jake Jones, Office Group, Grubb & Ellis|Thomas Linderman Graham

18.              Philip Giunta, Investment Services, Boston

19.               Craig Cassell

20.              Jack Kerrigan, Office Group, Boston

21.              Paul Lundstedt, Institutional Capital Markets, Rosemont, Ill.

22.              John Gavin, Institutional Capital Markets, Rosemont, Ill.

23.              Daniel Cressman, Institutional Capital Markets, San Francisco

24.              Douglas Connell, Investment Services, Atlanta

25.              Michael Gottlieb, Office Group, New York

26.              Ted Parris, Office Group, Chicago

27.              Elyse Wolford, Office Group, Washington, D.C.

28.              Thomas Tunnicliff, Office Group, Chicago

29.              Steven Monroe, Office Group, Chicago

30.              Jay Stewart, Office Group, Chicago

Regency Centers Affirms First Quarter Results

JACKSONVILLE, FL.--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced today that the financial results for the quarter ended March 31, 2011 as reported on May 4, 2011 remain unchanged following the completion of its review related to the accounting for its non-qualified deferred compensation plan.

On May 4, 2011 Regency Reported the Following Earnings Results:

Regency reported Recurring Funds From Operations (FFO) for the first quarter of $51.0 million, or $0.59 per diluted share, compared to $52.3 million and $0.63 per diluted share for the same period in 2010.

Regency reported net income attributable to common stockholders for the quarter of $2.2 million, or $0.02 per diluted share, compared to $11.4 million and $0.14 per diluted share for the same period in 2010.

During the quarter, the Company recorded a $4.6 million impairment on our interest in a development joint venture.

Funds From Operations (FFO) for the first quarter was $48.1 million, or $0.56 per diluted share. For the same period in 2010, the Company reported FFO of $48.6 million and $0.58 per diluted share.

Regency’s Form 10-Q for the quarter ended March 31, 2011 has been filed with the SEC.

For a complete copy of the company’s news release and financials, please contact  Lisa Palmer, 904-598-7636