donedeals-3

National Retail Properties, Inc. Announces New and Expanded $450 Million Unsecured Credit Facility

2011-05-25T14:08:00.000-07:00

ORLANDO, FL, May 25, 2011 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced the closing of a new $450 million unsecured credit facility, replacing its existing $400 million credit facility.

The new facility matures May 2015, with an option to extend maturity to May 2016. The facility is priced at LIBOR plus 150 basis points. The new facility also includes an accordion feature to increase the facility size to $650 million.

Wells Fargo Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated were joint lead arrangers and joint book-runners of this credit facility with Wells Fargo Bank, National Association as the Administrative Agent and Bank of America N.A. as the Syndication Agent.

Documentation Agents were PNC Bank, National Association, Royal Bank of Canada and U.S. Bank, National Association. Other bank participants include BB&T, Citibank N.A., SunTrust Bank, Capital One, N.A., and Raymond James Bank, FSB.

"We greatly appreciate the strong support of our bank group and the confidence they have in our business," said Kevin B. Habicht (top right photo), Executive Vice President and CFO.

"This expanded facility gives us significant financial flexibility and enhances our ability to take advantage of acquisition opportunities which helps us perpetuate NNN's track record of 21 consecutive increases in our annual dividend."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

As of March 31, 2011, the company owned 1,223 Investment properties in 46 states with a gross leasable area of approximately 13.3 million square feet. For more information on the company, visit www.nnnreit.com.

Contact: Kevin B. Habicht, Chief Financial Officer, +1-407-265-7348

Grubb & Ellis Receives Listing Standards Notice from NYSE

2011-05-25T13:22:00.000-07:00

SANTA ANA, CA (May 25, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today reported that on May 19, 2011, it was notified by the New York Stock Exchange that it is not currently in compliance with the NYSE’s continued listing standards, which require an average market capitalization of not less than $50 million over 30 consecutive trading days and shareholders’ equity of not less than $50 million.

The company intends to notify the NYSE that it will submit a plan within 45 days from the receipt of the NYSE notice that demonstrates its ability to regain compliance within 18 months.

Upon receipt of the company’s plan, the NYSE has 45 calendar days to review and determine whether the company has made a reasonable demonstration of its ability to come into conformity with the relevant standards within the 18-month period, or whether it will require the company to do so within a lesser time period.

The NYSE will either accept the plan, at which time it will specify the applicable time period within which the company has to come into compliance. Thereafter, the company will be subject to ongoing monitoring for compliance with this plan.

Alternatively, should the NYSE reject the plan, the company will be subject to suspension and delisting proceedings.

The company’s business operations, SEC reporting requirements and debt instruments are unaffected by the notification.

During any cure period, the company’s shares will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing standards, and a “.BC” indicator will be affixed to the GBE ticker symbol.

The company previously announced in April that it had been notified by the NYSE that it was not in compliance with the NYSE’s continued listing standard as the minimum average closing price of the company’s common stock fell below $1.00 per share for over 30 consecutive trading days.

The company is in the process of developing a plan to comply with this continued listing standard as well.

In March, Grubb & Ellis announced that it had engaged JMP Securities to explore strategic alternatives, including the potential sale or merger of the company.

Contact: Janice McDill, Phone: 312.698.6707

Email: Janice.mcdill@grubb-ellis.com

Daymark Realty Advisors Secures 34,000-SF Lease Renewal with Smiths Medical at 5200 Upper Metro Near Columbus, OH

2011-05-25T13:12:00.000-07:00

COLUMBUS, OH (May 25, 2011) – Daymark Realty Advisors Inc., a leading provider of strategic asset, property management and structured finance solutions for owners of commercial real estate, today announced that it has secured a 63-month lease renewal totaling 33,967 square feet with Smiths Medical at 5200 Upper Metro (top left photo) in the Columbus suburb of Dublin, Ohio.

Since January 1, 2011, Daymark Realty Advisors and its subsidiaries have successfully executed lease transactions totaling in excess of 1.2 million square feet, valued at more than $18.9 million.

Daymark Realty Advisors and its subsidiaries manage 5200 Upper Metro, a three-story, Class A office building, on behalf of individual owners.

Smiths Medical, the largest division of the UK-based Smiths Group, is a global supplier of innovative medical devices for the hospital, emergency, home, and specialist environments.

“Smiths Medical has been a tenant at 5200 Upper Metro for the last six years and their renewal maintains the 89 percent occupancy rate at the property,” said Elizabeth Grossman, vice president, asset management.

“Dublin’s friendly entrepreneurial environment has attracted several large companies in the last decade and is home to numerous corporate headquarters.”

Built in 1999, 5200 Upper Metro is a 96,000-square-foot office building situated on nearly eight acres in the affluent suburb of Dublin. The property is located in the Metro Center Business Park, a 130-acre corporate office park that features numerous amenities, including an onsite café, four hotels, three restaurants, and a fitness center.

Chris Potts and Brett Cisler from Colliers International represented Daymark Realty Advisors in the transaction. Paul Tingley from Jones Lang LaSalle represented Smiths Medical.

For more information regarding Daymark, please visit www.DaymarkRealtyAdvisors.com

Contact: Damon Elder, (714) 975-2659, delder@DaymarkRA.com

EastGroup Properties Announces 126th Consecutive Quarterly Cash Dividend

2011-05-25T12:57:00.000-07:00

JACKSON, MS, May 25, 2011—EastGroup Properties (NYSE-EGP) announced today that its Board of Directors declared a quarterly cash dividend of $.52 per share payable on June 30, 2011 to shareholders of record of Common Stock on June 17, 2011.

This dividend is the 126th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $2.08 per share.

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.

Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup's portfolio currently includes 28.3 million square feet.

EastGroup Properties, Inc. press releases are available at www.eastgroup.net

For more information, please contact:

David H. Hoster II (top right photo), President and Chief Executive Officer, (601) 354-3555 or N. Keith McKey, Chief Financial Officer, at same number.

700 New Condos Still Unsold In Downtown West Palm Beach

2011-05-25T09:33:00.000-07:00

MIAMI, FL--Even though buyers acquired more developer units per month in the first 90 days of 2011 than a year earlier, the Downtown West Palm Beach market still has more than 700 new condos unsold from the South Florida real estate boom, according to a new report from CondoVultures.com.

As of March 31, 2011, the unsold new condo inventory represents nearly 21 percent of the more than 3,400 units created in Downtown West Palm Beach since 2003, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Downtown West Palm Beach And Palm Beach Island™.

In the first quarter of 2011, buyers acquired an average of 12 new condos per month at a blended price of $236 per square foot in Downtown West Palm Beach, according to an analysis of Palm Beach County records.

This year’s new condo sales activity represents a nine percent increase in transactions from the first quarter of 2010 when an average of 11 units were acquired per month at a blended price of $232 per square foot.

“At the current sales pace in this all-cash market, Downtown West Palm Beach has nearly five years of available inventory remaining,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

“The good news is, Downtown West Palm Beach has fewer unsold new condos than the markets of Greater Downtown Miami, South Beach, and Sunny Isles Beach in Miami-Dade County.

“The bad news is, Downtown West Palm Beach's total unsold inventory number does not include some 500 units that were previously acquired in distressed bulk deals by out-of-town investment groups that are now trying to resell the condos at a profit to individual purchasers.”

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com

Marcus & Millichap Capital Corp. Arranges $9.3 Million Multifamily Refinancing Loan

2011-05-25T09:25:00.000-07:00

ANAHEIM, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged $9,370,000 in refinancing for an 84-unit multifamily property in Anaheim.

Rick Padilla (top right photo), a senior director in the firm’s Long Beach office, arranged the financing.

“Before coming to MMCC, the borrower was turned down for refinancing by half-a-dozen lenders, including his existing lender,” says Padilla. “He was told that his property’s rents were above market, that the property was not of agency quality and that his net worth, liquidity and experience were insufficient to qualify for an agency refinancing loan.”

“MMCC’s longstanding relationships with agency lenders, and our ability to draw upon market data produced by Marcus & Millichap’s local investment sales agents and research department, helped overcome these hurdles and meet our client’s objectives,” concludes Padilla.

The loan is for 10 years, amortized over 30 years with a fixed interest rate of 5.75 percent. The LTV is 75 percent.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation

(925) 953-1716

www.mmCapCorp.com

Sotheby’s International Realty is Exclusive Sales, Marketing Agents for Spruce Creek Home and Airplane Hangar in Florida

2011-05-25T09:18:00.000-07:00

ORLANDO, FL --- Stirling Sotheby’s International Realty was named exclusive sales and marketing agents for a $1.95 million luxury home and airplane hangar at Spruce Creek Fly-In in Volusia County.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said luxury home specialists Rachel McGrath and Debbie Keilin (top right photo) are representing the property and serve as principal contacts for prospective buyers.

The six-bedroom, four-and-a-half bath luxury home offers 6,032 square feet of luxury living space with a separate guest house, huge courtyard, heated oasis style swimming pool and a second gated entry.

The home features golf and lake views, summer kitchen, travertine floors, a ground floor master suite with spa style bath, a second floor media room and library.

The 60-foot-by-68-foot tiled, air-conditioned airplane hangar was previously owned by NASCAR driver Mark Martin and features a full kitchen and a bath, conference room and private office.

Visit http://tour.circlepix.com/tour/Nitro/loadingPage.htm?tourId=793509

For more information, contact

Debbie Keilin, East Volusia Associate, Stirling Sotheby’s International Realty 386 451-4251

Rachel McGrath, East Volusia Associate, Stirling Sotheby’s International Realty 386 795-0911

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

Visit www.StirlingSIR.com

Morrison Commercial Real Estate Completes Two Lease Transactions Totaling 31,068 SF in Southwest Orlando

2011-05-25T08:13:00.000-07:00

ORLANDO, FL (May 25, 2011): Greg Morrison, CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of two large lease transactions totaling 31,068 ± square feet.

Lisa Bailey (top right photo) and Phil Marchese (lower left photo) of Morrison Commercial Real Estate represented the NWP Group, LLC in leasing 20,700± square feet at 7570 Exchange Drive.

Tom McFadden of Southern Commercial Real Estate Advisors represented the Landlord in this transaction. NWP Group is a residential plumbing company that has been in business for over 52 years serving locations throughout the Southeast.

Bailey and Marchese represented the Landlord in renewing the lease for Walgreens at Presidents Plaza for a total of 10,368± square feet. Dan Walsh and Jeff Linklater of NAI Capital represented the Tenant in this transaction.

Contact: Buffy Gillette, Phone: 407.219.3500

Email: bgillette@morrisoncre.com

NYU-Poly Expands Campus in Brooklyn's MetroTech Center

2011-05-25T07:55:00.000-07:00

NEW YORK, NY May 25, 2011 /PRNewswire/ -- In an important step to fulfill NYU's city-wide strategic vision for expansion of its academic facilities, NYU's engineering affiliate, the Polytechnic Institute of New York University (NYU-Poly) (top left center), will expand into neighboring space in Downtown Brooklyn's MetroTech Center.

The move is part of NYU-Poly's $38 million capital plan, called the i-squared-e Campus Transformation - where the "i-squared-e" stands for invention, innovation and entrepreneurship.

The expansion into MetroTech will allow NYU-Poly to accommodate faculty offices, dry computational labs, small classrooms, and administrative functions, while freeing up space in current facilities for renovation and potential redevelopment.

"MetroTech Center has a great central commons area," said NYU-Poly President Jerry Hultin (lower right photo). "Expanding into buildings that flank the commons creates a better presence of NYU-Poly in the square, and imparts a more dynamic, vibrant feel to our campus."

NYU-Poly is entering into a 20-year lease with real estate developer Forest City Ratner Companies for a total of 120,000 rentable square feet of space at 2 MetroTech and 15 MetroTech, which also involves a 9-year sub-lease of space from Wellpoint Insurance.

For more information about NYU 2031 and a complete copy of the institution’s news release, please log onto www.nyu.edu/nyu-in-nyc or contact

Wendi Parson of Polytechnic Institute of New York University, wparson@poly.edu, +1-718-260-3323

Web Site: http://www.poly.edu

Grubb & Ellis Company’s Ernest L. Brown IV Elected to CCIM Institute’s Board of Directors

2011-05-24T14:09:00.000-07:00

SAN ANTONIO, TX (May 24, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Ernest L. Brown IV, CCIM (top right photo), executive vice president and managing director of the company’s San Antonio office, has been elected to the board of directors of the CCIM Institute, a global leader in commercial and investment real estate education and services.

Brown was one of 18 Certified Commercial Investment Members elected to the board responsible for voting on policy, procedural and financial issues pertaining to the organization, its membership and educational programs. He will serve a three-year term beginning January 2012.

Brown has more than 27 years of commercial real estate experience and as managing director, oversees roughly 30 employees. He is the director of the Austin/San Antonio regional chapter of NAIOP, serves on the board of trustees of the Texas Military Institute and is president of the Texas Military Institute Alumni Association. Brown holds a bachelor’s degree from the University of the South.

Contact: Julia McCartney, Phone: 714.975.2230

Email: julia.mccartney@grubb-ellis.com

HFF closes sale of and arranges financing for office building in northwest Houston

2011-05-24T14:00:00.000-07:00

HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for 4600 Highway 6 North (top left photo), a three-story, 53,037-square-foot office building in northwest Houston.

HFF marketed the property on behalf of the seller, the Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management.

Rockwell Management Corporation represented the buyer in the purchase of 4600 Highway 6 North for an undisclosed amount. HFF arranged the acquisition financing through ViewPoint Bank.

Renovated in 2007-2008, 4600 Highway 6 North is 82 percent leased to tenants including JPMorgan Chase and the Attorney General’s Office. The property is located between Interstate 10 and Highway 290 on State Highway 6 in west Houston.

Brookfield Asset Management Inc., focused on property, renewable power and infrastructure assets, has more than $100 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA. www.brookfield.com.

Rockwell is a full-service management firm that provides services in due diligence, construction, renovation, marketing, bookkeeping, property and asset management.

The HFF investment sales team representing the seller was led by senior managing director Dan Miller (lower right photo) and associate director Trent Agnew. The HFF debt team was led by associate director Colby Mueck.

Contacts:

H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com

dmiller@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

HFF arranges refinancing for multi-housing community in Houston’s Galleria area

2011-05-24T12:57:00.000-07:00

HOUSTON, TX – HFF announced today that it has arranged refinancing for Tree Tops at Post Oak (top left photo), a 112-unit multi-housing community in Houston’s Galleria area.

Working exclusively on behalf of Venterra Realty, HFF placed the seven-year, 3.90 percent adjustable-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation). HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program.

Located at 4510 Briar Hollow Place inside the 610 Loop, Tree Tops at Post Oak is close to the Houston Galleria, Uptown Park and Highland Village.

The property has two three-story buildings with one- and two-bedroom units averaging 741 square feet each. Residents have access to a swimming pool and fitness center as well as reserved and covered parking. Tree Tops at Post Oak is 95 percent leased.

The HFF team that represented Venterra Realty was led by director Cortney Cole (lower right photo).

The organization has completed in excess of $1.3 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs over 350 people.

Contacts:

Cortney R. Cole, HFF Director, (713) 852-3500, ccole@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com ,

HFF Washington, D.C. hires Susan Carras as senior managing director

2011-05-24T12:48:00.000-07:00

WASHINGTON, D.C. – HFF announced today that Susan Carras (top right photo) has joined the firm as a senior managing director in its Washington, D.C. office.

Ms. Carras will be in charge of the local debt placement team and will co-head the Washington, D.C. office alongside Stephen Conley.

She has more than 30 years of experience in commercial real estate. Prior to joining HFF, Ms. Carras was a senior managing director in Cushman & Wakefield Sonnenblick Goldman’s Capital Markets Group.

Prior to that, she worked at StonebridgeCarras, Sonnenblick-Goldman and First National Bank of Chicago.

Ms. Carras began her career at Chase Manhattan Bank where she was a lending officer in the real estate finance division. She graduated magna cum laude from Lafayette College and is involved with Urban Land Institute, Greater Washington Commercial Association of Realtors and the Board of Trustees for Lafayette College and McLean School of Maryland.

“HFF is honored to have an experienced professional such as Susan join our team. As co-head, she will play an integral role in the day-to-day operations of the D.C. office and be instrumental in securing new business and closing debt and structured finance transactions,” said Stephen Conley (lower left photo), co-head and executive managing director in HFF’s Washington, D.C. office.

Contacts:

Stephen C. Conley, HFF Executive Managing Director, (202) 533-2500

sconley@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

HFF closes sale of and arranges financing for One and Two Park Ten Place in Houston’s Energy Corridor

2011-05-24T12:38:00.000-07:00

HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for One and Two Park Ten Place (top left photo), two office buildings totaling 91,166 square feet in Houston’s Energy Corridor.

The HFF investment sales team marketed the property on behalf of the seller, KBS Realty Advisors. A Miami-based investor purchased One and Two Park Ten Place for an undisclosed amount.

HFF arranged the fixed-rate acquisition financing on behalf of the buyer through Morgan Stanley Mortgage Capital, Inc.

One and Two Park Ten Place are located at 16300 and 16365 Park Ten Place Drive at the northwest corner of Interstate 10 and Park Row in west Houston. The properties are 92 percent leased overall to tenants including Ensco.

The HFF investment sales team representing KBS Realty Advisors was led by senior managing director Dan Miller and associate director Martin Hogan.

HFF senior managing director Susan Hill arranged the financing on behalf of the buyer.

KBS Realty Advisors, an SEC-registered investment advisor, and its affiliate, KBS Capital Advisors, are one of the nation's largest buyers of commercial real estate and structured debt investments, having consummated more than $16.5 billion in transactional volume.

Contacts:

H. Dan Milller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, Susan L. Hill, HFF Senior Managing Director, (713) 852 3500

dmiller@hfflp.com

shill@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

HFF Atlanta hires Andrew Seng as managing director in debt placement group

2011-05-24T12:29:00.000-07:00

ATLANTA, GA – HFF announced today that Andrew Seng (top right photo) has joined the firm as a managing director in its Atlanta office.

Mr. Seng will focus on debt and structured finance transactions for all property types throughout the southeastern United States.

Prior to joining HFF, Mr. Seng was an executive vice president with First Fidelity Companies where he was involved in securing more than $1.6 billion in debt and equity investments for real estate projects across North America.

Prior to First Fidelity Companies, he worked as an investment analyst with the University of Notre Dame Investment Office and an investment associate with Putnam Investments.

Mr. Seng is a Chartered Financial Analyst, a member of the CFA Institute and CFA Society of Atlanta, and currently serves as vice-chair for membership of the urban development mixed-use council for Urban Land.

Mr. Seng received his Master of Business Administration degree from Goizueta Business School at Emory University and his Bachelors of Business Administration degree from the University of Notre Dame.

“Andrew is a welcome addition to the Atlanta team and brings with him a wealth of experience in various types of financings across all major property types,” said Mark Sixou (lower left photo)r, senior managing director of HFF Atlanta.

Contacts:

Mark D. Sixour, HFF Senior Managing Director, (404) 832-8460 msixour@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

Marcus & Millichap Capital Corp. Closes $7.5 Million Multifamily Refinancing Loan in New Jersey

2011-05-24T12:16:00.000-07:00

SOMERS POINT, N.J., May 24, 2011 – Marcus & Millichap Capital Corporation (MMCC) has secured a $7,500,000 refinancing loan for a 214-unit multifamily property in Somers Point, N.J, according to Michael J. Fasano (top right photo), vice president and regional manager of the firm’s New Jersey office.

Joshua Lipsey (middle left photo), an associate director in MMCC’s New Jersey office, delivered the financing for the loan.

“MMCC delivered a rate that was well below agency pricing,” says Lipsey. “We were able to craft the terms of the transaction in order to meet our client’s needs.

"This included working with the bank to allow the borrower to pay down a portion of the principal each year without penalty. We were also able to lock the interest rate at application for an extended period of time in order to help our client avoid defeasance costs on the existing debt,” adds Lipsey.

“When state registration issuance delays threatened to derail the closing, we were able to coordinate the re-inspection with the New Jersey Department of Community Affairs to complete their review, abatement and the issuance of a new five-year registration,” continues Lipsey.

“When the property condition report raised potential issues, our team, in collaboration with the bank, was able to remove a significant property improvement reserve. With the support and hands-on engagement of the client, all repairs and improvements were completed within 30 days at a fraction of the potential contemplated reserve,” Lipsey goes on.

“When clients come to MMCC, they want to know that we will take all the necessary steps to get to the closing table,” concludes Lipsey.

“This transaction is another example of our commitment to meeting that expectation and of the value-added services we provide in the execution of acquisition and refinancing for our clients.”

The loan is for 10 years with a fixed interest rate, amortized over 30 years and nonrecourse.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation

(925) 953-1716

www.mmCapCorp.com

OliverMcMillan Rebrands 8-Acre Buckhead Development

2011-05-24T11:58:00.000-07:00

LAS VEGAS, (May 23, 2011) – OliverMcMillan, a San Diego-based real estate firm that develops urban and mixed-use retail, entertainment and residential projects, unveiled today new renderings, a new architectural model and a new name for Buckhead Atlanta, a six-block, eight-acre luxury mixed-use urban village located in the heart of Atlanta’s upscale Buckhead neighborhood.

The announcement was made at he International Council of Shopping Centers’ annual RECon show in Las Vegas.

Formerly known as The Streets of Buckhead (top left photo), the project was one of the highest profile developments in the country halted by the economic downturn and financing drought. The new name signifies a departure from the concept of a single destination development and a move toward a mixed-use community that will fit seamlessly within the existing Buckhead Village. Buckhead Atlanta will provide a foundation that encourages the natural evolution of the surrounding community.

“Buckhead Atlanta will be woven into the fabric of this world-class community,” said Morgan Dene Oliver, chief executive officer of OliverMcMillan. “Anyone who visits Buckhead Atlanta will know they are someplace special and they will want to return often.”

Contacts: Bryan Long, 404-724-2501, blong@jacksonspalding.com

Arizona’s Only Beachfront Resort to Mark Memorial Day Weekend with Opening of State’s Largest Infinity Pool

2011-05-24T11:47:00.000-07:00

LAKE HAVASU CITY, AZ —Nautical Beachfront Resort (top left photo), Arizona’s only beachfront resort hotel, will open the state’s largest infinity pool, “WET,” Friday May 27, just in time for the Memorial Day Weekend.

In honor of the occasion and to kick off the holiday weekend, members of the city’s VFW Post 9401 have been invited to be the first residents to get WET at 4 p.m.

“We like to have fun at Nautical Beachfront Resort, but we’re also mindful that Memorial Day is a meaningful holiday,” said Tim Peters, general manager. “So, we wanted to honor our local veterans by inviting them to christen our pool. American soldiers are often the first to respond in times of crisis, this time they can be the first ones in on the fun.”

WET, a free-form pool roughly the size of a stadium Jumbotron and filled with 108,000 gallons of water, is part of the first wave of property enhancements planned by the resort’s owners, RW Partners LLC of Phoenix. A new arrival center, scheduled to open later this summer, is also under way.

Media Contact: Lauralee Dobbins/Chris Daly, 703-435-6293,

Lauralee@Dalygray.com

Grubb & Ellis Facilitates 60,000-SF Office Lease Renewal in Clearwater, FL

2011-05-24T08:55:00.000-07:00

TAMPA, FL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that it represented Meridian Development Group in CCS Medical Inc.’s 60,000-square-foot office lease renewal at Meridian Concourse Center (top left photo), located at 4800 140th Ave. N in Clearwater.

James Moler (middle right photo), CCIM, and Paula Buffa (lower left photo), RPA, CCIM, both senior vice presidents with Grubb & Ellis’ Office Group, exclusively represented the landlord in the transaction. Brent Miller with Jones Lang LaSalle represented the tenant.

“CCS Medical evaluated numerous options in the market for the consolidation of their operations,” said Moler. “Our building was looked at very favorably due to the overall quality of the asset, the responsiveness of property management and the long-standing relationship between the owner and the tenant.”

“We put a lot of resources into the development and management of our properties,” said Steven Kossoff, managing director, Meridian Development Group, “but our tenant relationships are just as important. Flexibility and attention have been cornerstones for us since we began and have helped us make it through this tough market.”

Meridian Development Group owns and manages 1.5 million square feet of Class A and B office, flex and industrial assets located across west-central Florida.

Meridian Concourse Center is comprised of four buildings totaling 214,000 square feet. 4800 140th Avenue totals 60,000 square feet; all of which CCS Medical currently occupies. The property’s central Tampa Bay location provides convenient access to both Pinellas and Hillsborough Counties and is adjacent to the St. Petersburg/Clearwater Airport.

For more information, contact

Moler at 813.830.7963 or james.moler@grubb-ellis.com

or Buffa at 813.830.7887 or

paula.buffa@grubb-ellis.com or

Rachel Andreozzi, Phone: 561.893.6296, rachel.andreozzi@grubb-ellis.com

NAI Realvest Extends Hudson Restaurant Property Online Auction to June 8

2011-05-24T08:46:00.000-07:00

ORLANDO, FL --- Paul P. Partyka (top right photo), managing partner at NAI Realvest in Maitland, is going online to sell a 9,367 square foot restaurant building on a 2.8 acre site in Hudson to the highest bidder on June 8.

Partyka said the facility, located on S.R. 52 in Hudson between U.S. 19 and County Road 1, is well located on a busy thoroughfare, posts daily traffic counts that range between 30,000 and 63,000, surrounded by residential neighborhoods.

“It’s an excellent opportunity for development as a restaurant or for redevelopment with another use,” Partyka said.

Buyers of mid-range commercial facilities don’t often tour Hudson looking for opportunities.

“The online auction format offers us an excellent opportunity,” Partyka said. “We can present to a worldwide audience of potential bidders who are more interested in the facts---demographics, location, facility size, parking---than the general area,” he explained.

NAI Realvest designed a special web site for the auction at NAIauction.com/Hudson, and bids will be accepted online from 11 a.m. to 3 p.m. on Wednesday, June 8.

For more information, contact:

Paul P. Partyka Principal, Managing Partner, NAI Realvest, 407-875-9989 ppartyka@realvest.com;

Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

NAI Realvest Negotiates New Long-Term Office Lease at Primera in Lake Mary, FL

ORLANDO, FL --- NAI Realvest recently negotiated a five-year lease agreement for 1,380 square feet of office space at Suite 125, Primera Court I, 725 Primera Blvd. in Lake Mary.

NAI Realvest Senior Broker Associate Mary Frances West, CCIM brokered the transaction. The landlord at Primera Court I is Interchange-Primera II, LLC based in Daytona Beach.

The new tenant RezZiliant, which provides IT services, offsite backup, Virtual and Server colocation, recovery and security services, and also has a division that develops Healthcare software, has relocated from Waterbury, Conn. Their website is www.rezziliant.com and contact info is 1-866-581-4678

For more information, contact:

Mary Frances West CCIM, NAI Realvest, 407-875-9989 mwest@realvest.com

Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com;

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 or 407-461-3780 Lvershelco@aol.com

NAI Realvest Negotiates 10 Year Lease in South Daytona, FL

MAITLAND, FL. - NAI Realvest recently negotiated a ten-year lease of the 11,414 square foot former Whistle Junction facility at 1854 South Ridgewood Ave. in South Daytona.

Paul P. Partyka, principal and managing partner at NAI Realvest, along with principals Matt Cichocki (lower right photo) and Kevin O’Connor (lower left photo), negotiated the transaction representing the landlord, SBI Leasing of Titusville.

The new tenant is Fort Myers-based Ocean Buffet, Inc., who was represented by Josephine Wang of Carlino Commercial Group. It will be the third location for Ocean Buffet when it is anticipated to open in July. The firm also operates Ocean Buffet restaurants in Fort Myers and St. Augustine, Cichocki said.

This is also the eighth transaction involving a buffet style restaurant that the NAI Realvest team has completed in the last 18 months.

For more information, contact:

Paul P. Partyka, Managing Partner/Principal, NAI Realvest, 407-875-9989; ppartyka@realvest.com

Matt Cichocki or Kevin O’Connor, Principals, NAI Realvest, 407-875-9989; mcichocki@realvest.com; koconnor@realvest.com

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Equity Investment Services Sells Flowood Office Complex (REO)

2011-05-23T14:10:00.000-07:00

ORLANDO, FL— Nicholas Ledvora (top right photo) and Christopher Savino middle left photo), Managing Directors with Equity Investment Services (EIS), successfully closed the sale of two bank owned office buildings totaling 29,274 square feet and located in Flowood, MS.

Ledvora and Savino represented both the buyer and seller in the above referenced transaction. EIS brokered this transaction in association with Brandon Brown with TL Brown Properties of Jackson, MS.

“Like all distressed sales, this transaction was a great move for both the buyer and seller. Zions Bank was able to liquidate a non-performing asset and the buyer acquired a solid investment well below replacement value with plenty of upside.” said Ledvora on the transaction.

Mr. Ledvora and Mr. Savino are currently representing Zions First National Bank and other National lenders in a number of REO dispositions throughout the Southeastern United States.

Equity Investment Services is a full service commercial real estate investment advisory company based in Orlando, Florida.

Our group was strategically created to serve the needs of its clientele.

EIS represents owners in the dispositions and acquisitions, leasing and professional management of shopping centers, office buildings, industrial properties, single tenant net leased investments and multi-family properties.

For more information, visit: www.EISRE.com

Contact:

Alana L. Champagne

Operations Manager

Director of Property Management

Phone: 407.573.0711 ♦ Fax: 407.573.0710

Email: AChampagne@EISRE.com or

Nicholas Ledvora (o) 407/573-0711 nledvora@eisre.com

Website: www.EISRE.com

Arbor Closes 10 Fannie Mae Loans Totaling $27.7M Across Pacific NW, AL and CO

2011-05-23T13:58:00.000-07:00

Uniondale, NY (May 23, 2011) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of 10 loans totaling $27,730,400 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across the Pacific Northwest, Alabama and Colorado:

Pacific Northwest

Cascade Meadow Apartments, Woodburn, OR (top left photo) – The 200-unit complex received $11,775,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Four Seasons Apartments, SeaTac, WA (top right photo) – The 61-unit complex received $2,490,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Glenn Apartments, Portland, OR (middle left photo) – The 23-unit complex received $2,312,500 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Carriage Estates, Wilsonville, OR – The 37-unit complex received $1,992,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Sunview Apartments, Seattle, WA – The 37-unit complex received $1,693,200 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Inverness Apartments, Portland, OR – The 12-unit complex received $837,700 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Regis Arms Apartments, Hillsboro, OR – The 20-unit complex received $800,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

Alabama

Edgewood Villas, Mobile, AL (middle right photo) – The 103-unit complex received $1,530,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

The Birches Apartments, Scottsboro, AL – The 88-unit complex received $1,300,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 25-year schedule.

Colorado

Park Athmar Apartments, Denver, CO (lower left photo) – The 84-unit complex received $3,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

All of the loans were originated by Brian Scharf (bottom right photo), Director, in Arbor’s full-service Uniondale, NY, lending office.

“The package of recently close DUS® loans covered a broad diversity of loan sizes as well as geographies, from the Pacific Northwest to the Southeast and in between,” Scharf said.

“This varied array, based on both size and location, is a testament to Arbor's ability to offer everything Fannie Mae does. Our familiarity with all markets and loan sizes continues to strengthen our competitive advantage at a time when many of our competitors are limiting their focus.”

Contact: Christopher Ostrowski, costrowski@arbor.com

Beck Hires Harri Jarvenpaa as Senior Designer

2011-05-23T13:41:00.000-07:00

ATLANTA, GA (May 23, 2011) - The Beck Group’s Atlanta office said today that Harri M. Jarvenpaa (top right photo), AIA, LEED AP, has joined the team as a senior designer.

Harri has more than 15 years of experience in healthcare design and complex high-rise mixed-use construction. In his new role with Beck, Harri will manage pre-development services, conceptual design and facilitate meetings with municipal zoning and code officials.

During his career, Harri has managed and designed projects in Georgia, Texas, Florida, Colorado, North Carolina and Virginia. The majority of these project budgets were between $50 million and $100 million.

“Harri has extensive experience in healthcare design and construction,” said Fred Perpall (lower left photo by KARL W. RITZLER/Special from Atlanta Journal Constitution) managing director of Beck’s Eastern Division. “This skillset will be a great asset to our design team.”

Before joining Beck, Harri was a senior designer with The Peacock Partnership in Atlanta. His career has also included positions with The Preston Partnership and Smallwood, Reynolds, Stewart, Stewart and Associates.

Harri is a member of the American Institute of Architects and the U.S. Green Building Council. He holds a Bachelors of Architecture from Mississippi State University.

Dallas-based Beck is a full-service builder. Beck is in the business of devising solutions for clients needs through the development of real estate, the design of architecture and interiors and the construction of buildings.

Beck serves a wide range of industries, including arts, corporate, healthcare, entertainment, religious and education. Beck has more than 500 employees, many of whom are LEED-accredited professionals, working from a network of offices in Atlanta, Austin, Dallas, Denver, Fort Worth, Mexico City, San Antonio and Tampa.

For more information, go to www.beckgroup.com

Contact:

Laura Dudebout

O: 404.965.5023

C: 678.642.4301

ldudebout@wilbertnewsstrategies.com

Colliers International Completes Two Industrial Sales Totaling $4.113 Million in Sylmar, CA

2011-05-23T11:13:00.000-07:00

SYLMAR, CA, May 23, 2011. – Colliers International, the second largest global real estate services organization, recently completed two industrial deals in Sylmar, Calif. Brent Weirick, senior vice president based in Colliers International’s Encino office, handled both deals.

The first industrial sale was a 10,800-square-feet property located at 12300 Gladstone Avenue (top left photo) with the transaction value equaling $1.25M or $115.74 per square foot. This property was built in 1967 and offers high clearance, excess land component, located within the enterprise zone with dock high and grade level loading along with a fenced yard. Weirick represented the seller in this transaction.

The other industrial sale was purchased by the Seller of the Gladstone property as the upleg to their 1031 exchange. This building is a 34,650-square-feet facility located at 12950 Bradley Avenue (lower right photo). The transaction valued at $2.863M or $82.63 per square foot. Built in 1970, the property offers grade level and dock high loading with a lot size of 57,765 square feet. Weirick represented the buyer.

Buyer and seller information remains confidential for both transactions.

“The property at 12300 Gladstone Avenue was sold quickly within only three months of listing the property,” said Weirick.

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

angela.hwang@colliers.com

Cassidy Turley Chief Economist Sees Retail Sector Slowly Improving

2011-05-23T11:00:00.000-07:00

WASHINGTON, May 23, 2011 /PRNewswire/ -- Net demand for retail space has been trending up since July 2010, yet the U.S. retail sector will not reach historical average vacancy before mid-2013, according to Kevin Thorpe (top right photo) Chief Economist at Cassidy Turley, a leading commercial real estate services provider in the U.S.

According to Cassidy Turley's May 2011 Insights: Retail Outlook, Class A centers will rebound with slight rent growth this year in most metropolitan areas, while most Class B and C centers in secondary and tertiary markets will continue to lag. For the next two years, it will continue to be a story of haves and have-nots.

"The good news is that unlike the previous three years, the positive momentum we are observing in the retail sector easily exceeds the downside risks, giving us greater confidence that the recovery will continue to strengthen," said Thorpe.

Cassidy Turley issued its May 2011 Insights: Retail Outlook at the International Council of Shopping Centers (ICSC) RECon 2011 conference, May 22-25, at the Las Vegas Convention Center.

Copies of the May 2011 Insights: Retail Outlook and other Cassidy Turley research are available at Cassidy Turley's booth (#C187 L St) in the Central Hall.

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

Maureen Wheeler, Vice President, Corporate Communications, Cassidy Turley, +1-202-463-1138, Maureen.Wheeler@cassidyturley.com

or Dan Cherrin, Definition 6 for Cassidy Turley, +1-313-300-0932, Daniel.Cherrin@definition6.com

Web Site: http://www.cassidyturley.com

Daymark Realty Advisors Secures 30,000-SF Lease Renewal and Expansion with Government Agencies at One Northlake Place in Cincinnati

2011-05-23T10:46:00.000-07:00

CINCINNATI, OH (May 23, 2011) – Daymark Realty Advisors Inc., a leading provider of strategic asset, property management and structured finance solutions for owners of commercial real estate, today announced that it has secured a 10-year lease expansion and renewal totaling 29,733 square feet with the Government Services Agency at One Northlake Place (top left photo) in Cincinnati.

Daymark Realty Advisors has executed lease transactions totaling approximately 1.2 million square feet valued at $18.9 million, year-to-date.

Daymark Realty Advisors manages One Northlake Place, a four-story, Class A office building located at 11500 Northlake Drive, on behalf of individual owners through one of its subsidiaries.

The GSA transaction consists of two separate 15,000-square-foot leases, one for the Veteran’s Health Administration (VHA) National Center for Organization Development (NCOD) and the other for the Department of Veterans Affairs (VA) Veterans Integrated Service Network (VISN).

“The Government Services Agency has been a tenant at One Northlake Place for more than 10 years,” said Elizabeth Grossman, vice president, asset management. “The lease renewal and expansion will increase the building’s occupancy from 75 percent to 83 percent, far outpacing the local submarket where the average occupancy rate is 79 percent.”

Built in 1986, One Northlake Place is an approximately 177,000-square-foot office building situated on the former 10-acre Quantum Campus. The property is located in Sycamore Township, an unincorporated municipality of Greater Cincinnati that does not levy personal income taxes, but instead operates with a local real estate tax.

John Schenk from Colliers International represented Daymark Realty Advisors in the transaction. The Government Services Agency was self-represented.

For more information regarding Daymark, please visit http://www.daymarkrealtyadvisors.com/.

Contact: Damon Elder, Direct: 714.975.2659 • Cell: 714.356.1460

www.DaymarkRealtyAdvisors.com

Marcus & Millichap Names Martin E. Louie Managing Director

2011-05-21T09:01:00.000-07:00

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has elected Martin E. Louie (top right photo) as a managing director, according to John J. Kerin (lower left photo), president and chief executive officer. Louie currently serves as the firm’s chief financial officer.

“Marty’s skillful management of the firm’s financial operations has been of immense benefit to the company,” says Kerin. “His success in formulating, communicating and executing our financial objectives is a testament to his abilities as an insightful strategic planner and a dedicated leader.”

Louie joined the firm as controller in 2003. He was promoted to vice president of finance in 2007 and to first vice president in 2008. He has been chief financial officer since 2010.

Prior to his career with Marcus & Millichap, Louie was the president/broker of TriStar Capital Group Inc., a lending institution providing commercial and residential financial services for the greater San Francisco Bay Area.

He has also served as a senior financial executive with worldwide responsibilities for various Fortune 500 companies including Sony Electronics Inc., Disney, Infineon Technologies AG and West Marine.

Louie graduated from the University of California, Los Angeles with a degree in economics. He received his MBA in finance from the University of Southern California. He is also a certified public accountant.

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

Marcus and Millichap Capital Corp. Arranges $7.4 Million Construction Loan in Utah

2011-05-21T08:53:00.000-07:00

ST. GEORGE, UT – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7,451,409 construction loan and long-term commitment for an assisted- living facility in St. George.

Jeffrey Meierhofer (top right photo), an associate director in Salt Lake City, arranged the financing.

“When local lenders were unable to provide funding, MMCC was able to draw upon the firm’s mid-market relationships to secure financing,” says Meierhofer. “In a market where construction funding is scarce, MMCC was able to creatively solve product- and small geographic area-related challenges.”

“The borrower, lender and broker worked together to start construction on what will be a state-of-the-art assisted-living facility with memory care,” adds Meierhofer. “No new assisted living has been built in the area in years; this new facility will provide much needed accommodations for seniors.”

The construction loan is for two years and then a 75 percent loan-to-value long- term loan will be in place to take over upon occupancy.

Press Contact: Stacey Corso , Marcus & Millichap Capital Corporation, (925) 953-1716

www.mmCapCorp.com

California Shopping Center Trades for $11.7 Million

2011-05-21T08:44:00.000-07:00

GRANADA HILLS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of 17020 Chatsworth St (above centered photo)., a three-tenant, 39,720-rentable square foot shopping center in Granada Hills.

The sales price of $11.74 million represents $296 per square foot.

Brandon Michaels, a vice president investments in the firm’s Encino office, represented the seller, an out-of-state owner.

“The seller came to us because of our expertise and proven ability to create a market for this product type,” says Michaels. “Our platform and marketing process created a substantial amount of activity that produced a unique buyer who was able to pay a significant price.

“The property provides the new owners with a stable, core asset in a strong marketplace,” continues Michaels. “Two of the three tenants, Walgreens and Staples, are publicly traded companies and the third tenant, El Pollo Loco, is a privately held company with 333 locations.”

Built in 1959, the property is located on 129,809 square feet at the signalized corner of Chatsworth Street and Balboa Boulevard. The shopping center is easily accessible from California State Route 118. Nearby retailers include Fosters Freeze, 7-Eleven, 99¢ Only and Subway.

The Walgreens drugstore is 11 years into a 60-year lease term with the option to cancel in year 20 and at the end of every five years thereafter. Staples is in year 11 of a 15-year lease term with three-five year options to renew. El Pollo Loco is in year 11 of a 20-year ground lease.

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

Introducing David Toro, Luxury Homes Specialist at Stirling Sotheby’s International Realty

2011-05-21T08:33:00.000-07:00

ORLANDO, FL --- David Toro (top right photo), International Luxury Homes Specialist at Stirling Sotheby’s International Realty, has a different take on the real estate market from many market observers.

“In my role as an International Luxury Homes Specialist at Stirling Sotheby’s International Realty I have met countless celebrities, engineers, lawyers, doctors, business owners, and executives,” Toro said.

“While many educated individuals look down upon today's real estate market, I see a breadth of opportunity,” he said.

“We are emerging from an unprecedented housing market, but positive trends are already beginning to emerge. Buyers are leaving the sidelines and sellers are adjusting to the realities of the market. That’s a win/win situation, because as the supply curve dwindles, and as the demand curve increases, we will begin seeing a steady upbeat of market valuation,” he added.

For Toro, Stirling Sotheby’s International Realty has the best grasp of market conditions and the infrastructure to shape the market.

For more information, contact:

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890

Larry Vershel or Beth Payan, Larry Vershel Communications 407-461-3780 or 407-644-4142

First Green Bank Plans to Expand to Volusia Later This Year

2011-05-20T12:35:00.000-07:00

EUSTIS, FL – First Green Bank (top left photo), the new Lake County bank that has already opened locations in Eustis and Clermont and announced plans to open a headquarters location in Mount Dora in June, also plans opening a branch in Ormond Beach later this year.

Kenneth E. LaRoe (bottom right photo) chairman and chief executive officer of First Green Bank, said First Green’s mission-driven business is catching on in Lake County with its emphasis on personal customer service and respect for the environment.

The bank offers personal and business banking courier services with a fleet of energy-efficient Toyota Priuses, remote deposit capture machines that mean businesses don’t even have to visit the branch locations, energy efficient and environmentally sustainable business practices that include the bank’s new 11,800 square foot Mount Dora headquarters facility — only the second privately-owned building in Florida to seek the LEED platinum certification, denoting the highest possible energy efficiency and environmental sustainability.

“Our mission is an environmental and social one,” LaRoe said. “We take a holistic approach to business in which we meld capitalism and shareholder value with environmental and social responsibility,” he said.

For more information about this press release, contact:

Kenneth E. LaRoe, Chairman CEO, LEED® AP, First GREEN Bank, 352-483-9100, ken@firstgreenbank.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 or 407-461-3780 lvershelco@aol.com

Orlando Fashion Square Reports New Leases Totaling 50,000 SF

2011-05-20T12:24:00.000-07:00

ORLANDO, FL --- Orlando Fashion Square (top left photo) reports new leases in 2010 totaling more than 50,000 square feet of retail space.

John Crossman CCIM, president of Crossman & Company, the Orlando firm that serves as exclusive leasing representatives at Orlando Fashion Square said he projects that new leases in 2011 will total an additional 50,000 square feet.

“We anticipate a significant increase in visitors and new tenants at Orlando Fashion Square as a result of the opening of the National Entrepreneur Center in May,” Crossman said.

The National Entrepreneur Center, which provides support services to new and emerging business startups, leased 22,000 square feet of space at Orlando Fashion Square in a historic move Crossman said could launch a national trend.

“The choice of a centrally-located retail destination for its principal campus is a burst of strategic genius that marks National Entrepreneur Center as one of the real visionaries in the economic gardening movement,” Crossman said.

“We expect more agencies and organizations across the country will follow the example the National Entrepreneur Center is setting in making its services accessible and convenient to the small business entrepreneurs who will power the U.S. economy in the coming decades,” Crossman said.

Orlando Fashion Square mall is located on E. Colonial Drive near downtown Orlando.

For more information, please contact:

John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com.

Survivalists Eyed as Key Market for Central Florida Horse Farm

2011-05-20T12:19:00.000-07:00

ORLANDO, FL --- Stirling Sotheby’s International Realty is reaching out to an unusual market to sell a 32-acre equestrian estate on Tuscanooga Road in Groveland, Fla.: survivalists.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the property could make the perfect refuge for a family or group that wants to live “off the grid.”

The property, owned by blues performer Rozzy Osborne (top right photo), features a security entrance with camera, a private gun range, a whole house generator, 500 gallon propane tank, two separate wells, a half-acre garden, stables, a tree house, a fish pond with a private dock and a covered picnic area with electricity that would easily seat 40 people.

Soderstrom said the remote property could support a self-sustained lifestyle.

“There is a large market of survivalists in the U.S. who, for religious, political or philosophical reasons, desire a more private lifestyle removed from the hustle and bustle most of us consider routine,” Soderstrom said.

Linnette Sanzalone (middle left photo), the Stirling Sotheby’s International Luxury Homes Specialist representing the property, conducted a research study of the survivalist market in the U.S.---or “preppers,” as many of them prefer to be called---and says the property qualifies as the perfect rural compound.

“The Osborne equestrian estate is self-contained, secure and offers almost total privacy,” Sanzalone said. A five-acre wetland area at the back of the property could generate income from peat sales. More than 18 acres currently used as horse pasture could be converted into farmland.

The four-bedroom, four-bath luxury home at the center of the property offers 3,847 square feet of living space with tray ceilings, crown molding, oversized rooms, solid custom wood floors, built-in shelving units, two pantries, double built-in ovens, commercial grade ice machine and top-grade appliances.

Two additional oversized storage rooms could be converted into guest rooms or an exercise room, Sanzalone said.

A well-built 2,100 square foot barn near the main house could easily be converted to a guest house, workshop or man cave, Sanzalone said.

To view a video of the property, visit http://www.stirlingsir.com/index.php?action=listingview&listingID=149361

The blues singer’s property is currently listed at the highly discounted price of $599,000.

For more information, contact

Linnette Sanzalone, International Luxury Home Specialist, Stirling Sotheby’s International Realty 407-581-7890 or 352-638-5235 or Text 973-978-5497

Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-581-7890;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 or 407-461-3780; lvershelco@aol.com

Emerson International Negotiates Nine New Leases for Office Space totaling More than 10,530 SF in Altamonte Springs, Longwood and Winter Park, FL

2011-05-20T08:49:00.000-07:00

ALTAMONTE SPRINGS, FL. --- Emerson International recently negotiated nine new lease agreements for a total of 10,350 square feet of office space at four of its developments--Sanlando Center (top left photo) in Longwood, Cranes Roost and CenterPointe (middle right phototo) in Altamonte Springs and Louisiana Office Park (bottom left photo) in Winter Park.

Sean Westcott, director of leasing and property management for Emerson International, negotiated all nine leases on behalf of the landlord, Emerson International.

Six of the new leases were at CenterPointe Office Park on CenterPointe Circle in Altamonte Springs, where PGMI Inc. leased 2,184 square feet at 407 CenterPointe Circle; Billy Jones Cosmetics, LLC leased 554 square feet at 385 CenterPointe Circle; SunTech 3 Inc. leased 1,380 square feet at 393 CenterPointe Circle; Seminole County Healthy Start Coalition, 705 square feet at 401 CenterPointe Circle; Deborah Day, 260 and Your Fit Body Fitness, 267 square feet at 378 CenterPointe Circle.

Also in Altamonte Springs, Ray Town Vacations, Inc. leased 1,607 square feet at 283 Cranes Root Blvd.

At Emerson’s Sanlando Center, 2170 West S.R. 434 in Longwood, IQ Reports, LLC leased 1,917 square feet and at Louisiana Office Park in Winter Park Home Care Connect, LLC leased 1,643 square feet at 1133 Louisiana Ave.

For more information, contact

Sean Westcott, Director of Leasing and Property Management, Emerson International, Inc. 407-834-9560 swestcott@emerson-us.com;

Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

NAI Realvest Negotiates Lease Renewal at Oviedo Commerce Center

2011-05-20T08:40:00.000-07:00

ORLANDO, FL – NAI Realvest recently negotiated a lease renewal agreement for 1,533 square feet of industrial space at Oviedo Commerce Center (top left photo), 2460 West S.R. 426, suite 1008 in Oviedo.

George Viele, associate at the firm, brokered the transaction representing the Landlord, Oviedo Commerce Center, LLC based in Altamonte Springs.

The tenant is Oviedo-based Advanced Compatible Solutions, Inc.

For more information, contact:

George Viele, Associate, NAI Realvest 407-875-9989 gviele@realvest.com

Patrick Mahoney, President NAI Realvest, 407-875-9989 pmahoney@realvest.com

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

159-Acre Lake County, FL Site Sold for $325,000

2011-05-20T08:34:00.000-07:00

ORLANDO, FL--Maury L. Carter & Associates, Inc. and Dowd Properties, Inc. were recently involved in a $325,000 transaction for 159± acres in Lake County, FL.

Sold for Branch Banking & Trust Company (BB&T), the property is located on the east side of N. Bradshaw Road, just south of Five Mile Road. The property is east of Highway 27 and approximately five miles south of Highway 50.

South Lake Crossings III, LLC was the Buyer.

Daryl Carter, Preston Hage, and Patrick Chisholm of Maury L. Carter & Associates, Inc. represented the Seller. Jim Dowd of Dowd Properties, Inc. represented the Buyer.

Contact:

Joan M. Fisher

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200

Orlando, FL 32806-8500

(407) 581-6207 direct

(407) 422-3144 office

(407) 422-3155 fax

jfisher@maurycarter.com

http://www.maurycarter.com/

http://www.disneyuniversalland.com/

HFF closes sale of the Sheraton North Dallas in Dallas, TX

2011-05-19T12:25:00.000-07:00

DALLAS, TX –HFF announced today that it has closed the sale of the Sheraton North Dallas (top left photo), a 309-room, REO hotel in Dallas, Texas.

HFF marketed the distressed property exclusively on behalf of the seller. HEI Hospitality, LLC purchased the hotel for an undisclosed amount. This is the second purchase in the submarket for HEI, who bought the Le Méridien last year, which was also marketed by HFF.

The Sheraton North Dallas is located at 4801 LBJ Freeway, across from the Dallas Galleria at the intersection of the LBJ Freeway and the Dallas North Tollway in northwest Dallas.

Originally built in 1979, the property was renovated in 2009 and features 14,000 square feet of newly renovated meeting space, a full-service restaurant, 24-hour fitness center, indoor/outdoor swimming pools, a club lounge, the Link@Sheraton, dry cleaning service and shuttle service within the surrounding area.

The HFF team representing the seller was led by senior managing director Dan Peek (lower right photo) and director John Bourret (bottom left photo).

Contacts:

Daniel Peek, HFF Senior Managing Director, (813) 870-1001,

jbourret@hfflp.com

John Bourret, HFF Director, (214) 265-0880, dpeek@hfflp.com

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

Stream Realty Partners Purchases Plaza 35

2011-05-19T12:08:00.000-07:00

AUSTIN, TX – Stream Realty Partners – Austin, L.P. recently purchased Plaza 35 from a special servicer in April 2011.

The project is 35% leased. Stream’s leasing team consists of Daniel Farrar, Vice President and Kevin Granger, Partner. HFF (Holliday Fenoglio Fowler, L.P.) brokered the sale transaction.

Plaza 35 is located in the North Austin submarket in the Braker / Metric area and offers excellent visibility, access and frontage directly on Interstate 35. The project is located near Interstate 35 and Parmer Lane.

Contact:

David Blackbird – 512.481.3002 / dblackbird@streamrealty.com

Taylor Green – 512.481.3004 / tgreen@streamrealty.com

NAI Realvest Negotiates New Office Lease at University Court in East Orlando

2011-05-19T11:56:00.000-07:00

ORLANDO, Fla. --- NAI Realvest recently negotiated a new lease agreement for 2,502 square feet of office space at University Court located at 3361 Rouse Rd. off University Blvd. in east Orlando.

Senior Associate Mary Frances West (top right photo), CCIM negotiated the transaction representing the landlord, Interchange Rouse, LLC of Daytona Beach.

ASSA ABLOY Sales and Marketing Group, Inc. headquartered in New Haven, Conn., leased Suites 105 and 110 in the building. The tenant was represented by Robert Kellogg of Grubb & Ellis.

For more information, contact:

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989 mfwest@realvest.com

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 lversehlco@aol.com

Lennar opens “Cutaway” Homes in four Tampa Bay Area Communities for Home Buyers to Have Inside Look at New Home Construction

2011-05-19T11:42:00.000-07:00

TAMPA, FL --- Lennar has opened model homes in four Tampa Bay area communities that give potential home buyers an inside look at new home construction.

Mark Metheny, president of Lennar’s Central Florida Division, said Lennar’s “Quality you can see” model homes at Concord Station in Pasco County, Tampa Bay Golf and Country Club in San Antonio, Live Oak in New Tampa and Bahia Lakes in Ruskin offer home buyers a cutaway look at wall, window and roof construction, electrical, plumbing and air conditioning work.

“Many new home buyers are interested in new engineering and construction techniques that make homes more energy efficient, safer and more comfortable,” Metheny explained.

All four model homes are open daily and visitors are invited, Metheny added.

For more information, visit www.Lennar.com or call 888-317-7489.

Contacts::

Francine Miller, Director of Sales & Marketing Lennar-Tampa Region, 727-479-1747; Francine.Miller@Lennar.com

Mark Metheny, Lennar Division President-Central Florida, 727-479-1700

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

RETS Associates Names Amy St. Denis Managing Director at its Denver Office

2011-05-19T11:22:00.000-07:00

DENVER, CO (May 19, 2011) — RETS Associates, the premier commercial real estate recruitment and staffing firm, has named Amy St. Denis (top right photo) as managing director at its Denver office.

St. Denis brings 15 years of experience in the executive search field, conducting searches at the director level and higher. Her focus will be on executive searches in the Midwest, Mountain and Southwest markets. St. Denis has performed searches across the United States for large public REITs, early-stage organizations and the space in between.

St. Denis’ recent assignments include president of a real estate technology company, general manager for a resort developer, vice president of development for a developer and builder, and vice president of asset management for a non-traded real estate investment trust.

St. Denis is a graduate of Creighton University, where she earned a bachelor’s degree in political science and economic development. She is a member of ULI, ICSC, NAIOP and NAREIT.

For more information on RETS Associates, please visit www.retsusa.com

Contact: David Ebeling, Ebeling Communications, (949) 278-7851

david@ebelingcomm.com

Arbor Appoints Daniel Kenny as Senior Vice President, Credit Management

2011-05-19T11:10:00.000-07:00

Uniondale, NY (May 19, 2011) – Arbor Commercial Mortgage, LLC, a leader in the commercial real estate finance industry, announced today the appointment of Daniel Kenny (top right photo) to Senior Vice President, Credit Management, in Arbor’s New York City office. He reports to John Natalone (lower left photo), Executive Vice President.

A 27-year commercial real estate industry veteran, Mr. Kenny is now responsible for leading Arbor’s Credit Management Group, which includes the development and supervision of an asset management platform and team in support of Arbor’s Fannie Mae DUS® and balance sheet lending programs.

Prior to joining Arbor, Mr. Kenny was the Senior Vice President of the Asset Recovery Group at KeyBank. While there, he coordinated and integrated the Union State Bank portfolio into KeyBank’s Commercial Real Estate ARG platform and managed a portfolio of loans and real-estate-owned assets. His responsibilities included developing strategic plans, asset valuation, underwriting, workouts, structuring, loan sales, litigation and portfolio recovery optimization.

Prior to KeyBank, Mr. Kenny was the Director in Commercial Real Estate Group at Dillon Read Capital Management in New York, where he originated mortgage loans and proprietary equity investments and was the capital representative for joint venture equity investments in value-added and net-leased properties.

Earlier in his career, Mr. Kenny held senior-level positions at several other esteemed commercial real estate investment and lending organizations including, UBS Investment Bank, Bayerische Hypo und Vereinsbank, Skopbank, CorEast Savings Bank and Chase Manhattan Bank.

Mr. Kenny received his Master of Science degree in Real Estate Investment from New York University and his Bachelor of Arts degree in Economics and Business Administration from St. Thomas Aquinas College in Sparkill, NY. He resides in Glen Rock, NJ.

Contact: Christopher Ostrowski, costrowski@arbor.com

HFF arranges $7.44 million in financing for two Southern California manufactured home communities

2011-05-19T06:40:00.000-07:00

SAN DIEGO, CA – HFF announced today that it has arranged financing totaling $7.44 million for Linda Vista Estates (top left photo) and Coast MHC (middle right photo), two senior (55+) manufactured home communities in Hemet and Harbor City, California.

HFF worked exclusively on behalf of Dzikowski Investments LLC to secure the two 30-year, fixed-rate Fannie Mae DUS loans.

A $2.43 million refinancing was arranged for Linda Vista and a $5.01 million loan was secured for the acquisition of the fee simple interest in Coast MHC.

The borrower previously owned the leasehold interest in Coast MHC and has operated the community for several years.

Linda Vista Estates has 111 home sites and is 94 percent leased. Community amenities include a clubhouse, swimming pool, jacuzzi, shuffleboard, car wash, billiards room and laundry facilities.

The 12.58 acre site is located on Florida Avenue east of downtown Hemet, a community about equidistant between San Diego and Los Angeles.

Coast MHC is a fully occupied community with 95 home sites. Residents have access to a clubhouse, swimming pool, library, shuffleboard court and laundry facilities. The property is situated on 8.4 acres in Harbor City, located in the South Bay area of Los Angeles.

The HFF team representing Dzikowski Investments LLC was led by associate director Zach Koucos (bottom left photo)

“This was a challenging transaction where we had to manage the recapitalization of two properties simultaneously with the acquisition of the fee simple interest in Coast MHC., not to mention that a 30-year fixed-rate, non-recourse financing with cash-out is very unique today,” said Koucos.

Dzikowski Investments LLC is a multi-generational, family-run operation experienced in all phases of the manufactured housing industry including acquisition, rehabilitation, home sales and management.

Contacts:

Zachary E. Koucos, HFF Associate Director, (858) 812-2351, zkoucos@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

HFF arranges $65.7 million joint venture for three Fulton, MD office properties

2011-05-19T06:11:00.000-07:00

WASHINGTON, D.C. – HFF announced that it has arranged a joint venture valued at $65.7 million for three Class A office properties in Howard County, Maryland. The properties include: 8161, 8170 and 8171 Maple Lawn Boulevard.

HFF represented Greenebaum & Rose Associates, Inc. in the transaction with St. John Properties. The two firms will share ownership of the three Class A office buildings under the new agreement and will co-develop future office buildings within Maple Lawn.

The properties are located within the “award-winning” Maple Lawn community, a 600-acre mixed-use development just east of Columbia Pike in Howard County, equidistant between Washington, D.C. and Baltimore.

8161, 8170 and 8171 Maple Lawn Boulevard total 285,000 square feet and are 97 percent occupied by tenants including Raytheon Solipsys, Offit Kurman and Yumkas, AAA, Pearl Spa and New Day Financial.

The HFF team representing Greenebaum and Rose was led by senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo).

Greenebaum & Rose is a privately owned real estate company formed in 1981 that has extensive holdings throughout the Washington D.C. and Baltimore metropolitan areas. Greenebaum is focused on office and large-scale mixed-use developments.

“This represents my fourth joint venture with St. John Properties, dating back over 20 years,” said Stewart Greenebaum (middle right photo). “Their in-house capabilities, including construction, leasing, tenant improvements and property management, make our respective organizations an excellent fit.”

St. John Properties, Inc. is one of the Mid Atlantic region’s largest and most successful privately held commercial real estate firms. Headquartered in Baltimore, MD, the company owns and has developed nearly 15 million square feet of office, research and development/flex, and retail space.

“For a long time we’ve been recognized as a leader in the flex marketplace, but over the past decade we have diversified our portfolio,” said Ed St. John (bottom left photo).

“This new Maple Lawn joint venture, added to our properties at The GATE at Aberdeen Proving Ground, Maryland Science & Technology Center in Bowie and other business centers means that a significant percentage of our portfolio will be multi-story, Class A office or retail space.”

Contacts:

James A. Meisel, HFF Senior Managing Director, (202) 533-2500,

jmeisel@hfflp.com

Stephen ‘Dek’ Potts Jr., HFF Senior Managing Director, (202) 533-2500 dpotts@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

IPA Brokers $38 Million Sale of San Francisco Bay Area Apartment Complex

2011-05-19T05:52:00.000-07:00

UNION CITY, CA – Institutional Property Advisors (IPA), a boutique brokerage platform serving the needs of institutional and major private investors, has arranged the sale of Greenhaven Apartment Homes (top left photo), a 250-unit apartment community in Union City. The sale price of $38 million represents $152,000 per unit and $196 per square foot.

The IPA brokerage team of Stan Jones (top right photo), executive vice president investments, Sal Saglimbeni (middle left photo) associate vice president investments and Phil Saglimbeni (bottom right photo), associate vice president investments, represented the seller, Equity Residential. The buyer was Interstate Equities Corp. IPA is a division of Marcus & Millichap Real Estate Investment Services.

“The area's limited multifamily construction pipeline, along with the resumption of job growth, will reinforce the current recovery in apartment operations,” says Jones. “Greenhaven should experience solid NOI growth as a result.”

“Greenhaven’s central location is a key component of it attractiveness,” adds Sal Saglimbeni. “The property is ideally situated near major Bay Area employment hubs, including the Peninsula, Silicon Valley, Oakland and the 680 Corridor.”

Located at 31770 Alvarado Blvd., the 193,560-square foot property is just north of the Fremont city border, near major transportation corridors, including State Route 84, State Route 92, Interstates 880, 238 and 580, Bay Area Rapid Transit (BART) and Amtrak.

Union Landing, the city’s main retail hub, is located less than a mile from the property and hosts more than 100 acres of retail, entertainment and dining, including Century 25 Theatres, Best Buy, Lowe’s, Lucky, Walmart, Office Max and Petco.

Greenhaven Apartment Homes includes 102 one-bedroom/one-bath units, 48 two-bedroom/one-bath units, 80 two-bedroom/two-bath apartments and 20 three-bedroom/1.5 bath apartment homes. The average home size is approximately 774 square feet.

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

Orlando’s Marketplace Advisors, Inc. Celebrates 10th Anniversary

2011-05-19T05:40:00.000-07:00

Founder David Marks Bullish on Central Florida Commercial Real Estate

ORLANDO, FL--- Marketplace Advisors, Inc., a real estate consulting company that focuses on retail districts, town centers, sustainable community development, celebrated its 10th anniversary in May, and founder and president David Marks (top right photo) said he is becoming more optimistic about the future of commercial real estate markets in Central Florida.

“The Central Florida region has experienced employment growth of 20,400 jobs over the last 12 months (March 2010 to March 2011), a two percent increase.

Several pockets of commercial and residential activity are occurring in the Horizons West area in southwest Orange County, Lake Nona’s Medical City area (middle left aerial photo) , The Villages (lower right photo), and the UCF area,” Marks said.

Marks said these areas all have strong demand factors driving development. “Employment drives residential development and residential development drives retail and service businesses. All of these area hotspots are being driven by these circular factors,” Marks said.

Marks has more than 25 years of experience in commercial real estate consulting and community planning. His 10-year study of sustainable community planning in the U.S. and Europe has generated a unique database of planning and development models.

Marks is a frequent speaker at U.S. urban planning and community development conferences and conventions and is now currently negotiating with several New York publishers on a book that details his study.

For more information, please contact:

David Marks, Marketplace Advisors, Inc., 407-694-7040, dmarks@cfl.rr.com;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Trulia and RealtyTrac Survey Reveals 54 Percent of American Adults Now Believe Housing Recovery Remains Unlikely Until 2014 or Later

2011-05-18T13:43:00.000-07:00

SAN FRANCISCO, CA, May 18, 2011 – Trulia, a top resource for homebuyers, sellers and renters, and RealtyTrac, the leading online marketplace for foreclosure properties, today released the latest results of an ongoing survey that has tracked American attitudes toward foreclosed homes since 2008.

Harris Interactive® conducted this online survey on their behalf from April 15 to 19, 2011, among 2,018 U.S. adults aged 18 and over.

Key Findings

American Expectations for Housing Market Recovery Falters

As more cities across the nation experience double dips in home prices , more than half (54 percent) of U.S. adults believe recovery in the housing market will not happen until 2014 or later, according to the survey released today.

In a previous survey conducted six months ago , 42 percent of American adults said they thought the market would turn around by 2012 or had already turned around. Now, only 23 percent continue to think this will happen.

For a complete copy of the survey, please contact:

Chip Scarinzi for Trulia, chip.scarinzi@edelman.com, 415.486.3221

Daisy Kong, dkong@trulia.com, 415.400.7391

Michelle Sabolich for RealtyTrac, michelle.sabolich@atomicpr.com

415.593.1400 ext. 1233

Adam J. Simon, CCIM, Joins Grubb & Ellis

2011-05-18T13:33:00.000-07:00

CHICAGO, IL (May 18, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Adam J. Simon (top right photo), CCIM, has joined the company as vice president, Private Capital Markets.

He brings more than six years of experience in investment sales, specializing in multifamily and mixed-use properties and joins the Chicago Multi Housing team of Brian Pohl, senior vice president, and Symeon Stavrakas, senior associate.

“We’ve seen an uptick in activity in the multifamily investment market, and bringing someone on board with Adam’s track record, relationships and expertise positions us to better support our clients as they expand their activities in the sector,” said Shawn P. Mobley (bottom left photo), president, Brokerage Services.

While leading the Simon Group, which he founded in 2008, Simon provided disposition advisory services, third-party acquisitions, equity placement and structured financing for investment clients throughout the Midwest.

Previously, he spent a year as an associate director in Cushman & Wakefield’s investment sales division after serving as a founding co-partner and managing broker of C.B. Commercial Inc., a commercial real estate brokerage firm he founded in 2005. Under his leadership, the firm facilitated in excess of $600 million in property transactions from 2005 to 2008.

Contact: Erin Mays, Phone: 312.698.6735

Email: erin.mays@grubb-ellis.com

Refinancing of southeast Houston multi-housing community arranged by HFF

2011-05-18T13:24:00.000-07:00

HOUSTON, TX – HFF announced today that it has arranged refinancing for College View (top left photo), a 104-unit multi-housing community adjacent to San Jacinto Community College in southeast Houston.

HFF worked on behalf of Venterra Realty to secure the 10-year, 5.66 percent fixed-rate loan with Morgan Stanley Mortgage Capital, Inc. Loan proceeds replaced maturing debt on the property

College View Apartments is situated on 5.5 acres at 333 Luella Boulevard about 25 miles southeast of downtown Houston in La Porte. The property has seven residential buildings with one-, two- and three-bedroom units averaging 819 square feet each. Community amenities at the 90 percent leased property include a swimming pool and business center.

The HFF team that represented Venterra Realty was led by director Cortney Cole (lower right photo).

Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States. Venterra currently manages a portfolio of multi-family real estate assets totaling over $600 million in value that generates gross annual income in excess of $80 million. The organization has completed in excess of $1.3 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs over 350 people.

Contacts:

Cortney R. Cole, HFF Director, (713) 852-3500, ccole@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

krmurphy@hfflp.com

Stan Johnson Company More Than Doubles Size of Los Angeles Office

2011-05-18T12:59:00.000-07:00

LOS ANGELES, CA (May 18, 2011) — Stan Johnson Company, one of the nation’s leading real estate brokerage and advisory firms specializing in net-lease investment sales, announced today that it has more than doubled the size of its Los Angeles office, adding three veteran brokers to its team.

Lindsey Scully, Ed Breslin and Jackie Baker will now serve as associate directors for the Los Angeles office. The trio joins Stan Johnson Company associate directors Derek Layne and Brad Richardson who helped launch the office in October 2010.

Lindsey Scully (top right photo) has owned and operated, LES, Inc., a commercial brokerage firm based in Southern California, for over 11 years. She has successfully brokered over $480 million in commercial real estate deals including industrial, office, retail as well as self-storage and mixed-use developments, having worked with numerous high profile developers and investors throughout California and Canada.

Ed Breslin (middle left photo) brings over 9 years of commercial real estate experience to Stan Johnson Company, most recently serving as vice president of investments for REMAX/Commercial. He has closed more than $175 million in sales transactions since entering the business with the majority being in the multi-family and single tenant net leased investments. He also has a strong financial background, working previously with Goldman Sachs and Prudential Securities.

With over seven years of commercial real estate experience, Jackie Baker (middle right photo) recently served as principal at a boutique brokerage firm where she specialized in the sale and lease of commercial properties. Previously, she worked with both First Industrial Realty Trust and The Staubach Company in the industrial leasing sector. Throughout her career, she has completed transactions encompassing more than 2.8 million square feet.

“We’re excited about bringing in three seasoned commercial real estate professionals to help grow our office in Los Angeles,” said Daniel Herrold, Executive Managing Director, who heads up the company’s west coast expansion efforts. “These three bring a wealth of experience in different facets of commercial real estate, as well as strong local relationships that we will be able to leverage. I’m excited to watch them ramp up their business in our new office.”

The company’s expansion strategy kicked off in late 2008 with the launch of an office in Houston, Texas followed early last year with an office launch in Chicago, Illinois. The company also has a Capital Markets office in Oklahoma City, Oklahoma.

Contact: David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

Sun Hospitality Sells Florida Hotel

2011-05-18T12:43:00.000-07:00

TAMPA, FL (May 18, 2011) – The Plasencia Group’s Sun Hospitality division is pleased to announce the sale of the Suburban Extended Stay in Melbourne, FL. (top left photo) The hotel, which was on a ground lease, sold to GB Holdings for an undisclosed amount in a transaction that closed last week.

Sun Hospitality Advisors, a subsidiary of TPG that handles limited-service hotel transactions, was engaged by the seller as their exclusive advisor in the sale of the 132-room property.

The hotel, at 1125 Airport Boulevard, is located less than a mile from Melbourne International Airport, three miles from Florida Institute of Technology, and just minutes from area beaches.

"Transactions involving ground leases are always a challenge, because most buyers are seeking fee simple assets,” explained Robert O’Leary, vice president of Sun Hospitality’s southeast region.

“In this instance, the buyer is a first-time hotelier who is already a successful entrepreneur in the Melbourne area." GB Holdings plan extensive renovations to the property in order to retain the franchise.

Media Contact: Karen Brand, VP Marketing & Communications / (203) 202-4549 / kbrand@TPGhotels.com

Cuhaci & Peterson Architects Awarded Contract to remodel Sweetbay Grocery store in St. Petersburg, FL

2011-05-18T10:10:00.000-07:00

ORLANDO, FL--- Cuhaci & Peterson Architects, LLC based in Baldwin Park has recently been awarded a contract to design the remodeling of a Sweetbay Grocery store in St. Petersburg.

Lonnie Peterson, chairman at Cuhaci & Peterson Architects, said the 35,000 square foot facility is located on 4th Street in St. Petersburg.

For more information, contact:

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

Only 2% Of New Condos Unsold In Downtown Fort Lauderdale and Beach

2011-05-18T08:34:00.000-07:00

MIAMI, FL---Less two percent of the nearly 5,100 condos created in the Downtown Fort Lauderdale and Beach market during the South Florida real estate boom remain unsold as of March 31, 2011, according to a new report from CondoVultures.com.

The unsold inventory was reduced even further between January and March of 2011 when buyers acquired 76 developer units for nearly $10.7 million, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Downtown Fort Lauderdale and Beach™.

A super majority of the units that transacted in the first quarter of 2011 were in the Village East condominium (top left photo) conversion, where a 68-unit bulk deal traded for $7.65 million in February. The other developer units to transact in the first quarter of 2011 were located in the Coconut Grove Residences on Fort Lauderdale Beach (lower right photo), according to an analysis of Broward County records.

"Downtown Fort Lauderdale and the Beach is arguably one of the most stable coastal condo markets in the tricounty South Florida region based strictly on remaining unsold developer units," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"As a result of a somewhat anti-development city commission during the boom years, several new condo projects planned for Downtown Fort Lauderdale and the Beach were never constructed. Many of the units that ultimately were built ended up coming on line right as the real estate crash was beginning.

"Buyers with preconstruction purchase contracts at the time opted to go forward with their transactions rather than lose their deposits of typically 20 percent."

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com

NAI Realvest negotiates new lease agreement for Indoor Soccer at 33rd Street Industrial Center in Orlando

2011-05-18T08:22:00.000-07:00

ORLANDO, Fla. – NAI Realvest recently negotiated a new lease agreement for 11,100 square feet at 4600 LB McLeod Rd. in the 33rd Street Industrial Center (top left photo) in Orlando.

Michael Heidrich, a principal at NAI Realvest, brokered the transaction representing the landlord, Columbus, Ohio-based 33rd Street Properties LLC. The tenant is Orlando Fox Soccer Corporation of Orlando, who leased the space for an indoor soccer playing field.

In other business, Heidrich negotiated a lease for 3,200 square feet of industrial space at South Orange Business Park Unit 113, 10501 S. Orange Ave. representing the landlord Orlando 1, LLC of Banner Elk, N.C. The new tenant is Phoenix based Gorman Roofing Services, Inc. who was represented in the transaction by Jeff Tanner of Coldwell Banker Commercial NRT.

For more information, contact:

Michael Heidrich, Principal, NAI Realvest, 407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan or Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

Morrison Commercial Real Estate Completes Sale of 48,662-SF Office Building in Lake Mary, FL

2011-05-18T07:50:00.000-07:00

ORLANDO, FL (May 18, 2011): Greg Morrison, CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of a building sale totaling 48,662± square feet with over 11 acres of land.

Greg Morrison, Damien Madsen & Lisa Bailey of Morrison Commercial Real Estate represented CRM Florida Properties in the sale of 1097 Sand Pond Road in Lake Mary for $3,000,000.00.

The Buyer was Meritas, LLC, represented by Miguel de Arcos of Sperry Van Ness. Mertias plans to convert the building to a dormitory for its private school, Lake Mary Preparatory School.

Contact: Buffy Gillette, Phone: 407.219.3500, Email: bgillette@morrisoncre.com