The Emmes Realty Services Completes 49,110-SF Lease with Jacobs at The Michelson in Irvine, CA

IRVINE, CA – EMMES Realty Services, an affiliate of the EMMES Group of Companies, a privately-owned real estate investment company, has completed a 10-year lease with Jacobs Engineering Group Inc. (Jacobs) 49,110 square feet of space at The Michelson (top left photo), a landmark 533,000-square-foot high rise office tower located at 3161 Michelson in Irvine, Calif. 

The new space will be used as the company’s regional Orange County office.

Eric Olofson and Rick Kaplan of Cushman & Wakefield represented Jacobs. EMMES Realty Services was represented by Robert Shibuya.

Located in the heart of Orange County at the southeast corner of Jamboree Road and the 405 Freeway,

The Michelson is a 19-story tower offering panoramic views of the Pacific Ocean, San Gabriel Mountains and Orange County skyline, and is currently more than 80 percent leased to several high profile tenants including Hyundai Capital America, Bryan Cave, Gibson Dunn, Greenberg Traurig Systems Source and Jones Day. 

Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.

Since 1992, The EMMES Group of Companies on behalf of its affiliated entities, capital partners and investors, has acquired and managed more than 35 million square feet of retail, office, industrial and multifamily property types.

 The company's current portfolio includes encompasses nearly 10 million square feet located in 19 states. Learn more at www.emmesco.com.

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

david@ebelingcomm.com

The Dow Hotel Company Adds Eighth Basil’s Kitchen Branded Restaurant at Embassy Suites Seattle-Tacoma International Airport

 SEATTLE, WA, Feb. 14, 2011—Officials of The Dow Hotel Company, LLC (DHC), a hotel ownership investment and management company with in-depth restaurant expertise, today announced that it has acquired the lease on Basil’s Kitchen restaurant (top left photo) located in the Embassy Suites Seattle-Tacoma International Airport (SeaTac) (middle right photo), in Seattle. 

DHC said it will invest nearly a half-million dollars to upgrade the 158-seat facility.

The facility is the eighth Basil’s Restaurant and its first free standing restaurant in a hotel.  Concurrently, the company said that it is exploring the possibility of growing the Basil’s Kitchen restaurant concept nationwide and doubling in size by 2012.

  

 “This is the next logical step in the evolution of the highly successful Basil’s Kitchen concept,” said Murray Dow (middle left photo), CEO, DHC.

 “We created the concept in 1999 and now have eight restaurants opened under the brand.  We have reached the size and have the systems and standards in place to begin operating the brand outside of our hotels, and believe that the growth of the concept offers some attractive opportunities.”

DHC took over management of the restaurant, converting it to the Basil’s Kitchen concept in mid-January 2010, while working out a long-term lease agreement at the start of 2011.  During its first year under the Basil’s Kitchen concept and DHC’s management, the restaurant’s covers increased 38 percent, revenues rose 26 percent and profits improved 74 percent.

Basil’s Kitchen, named for Dow’s mentor in the hotel industry, Basil Miaullis, features Mediterranean-style cuisine with fresh, local ingredients.  The concept can be configured as Basil’s Kitchen, which features a more traditional restaurant menu, or Basil’s Bistro, which features small plate offerings, geared to a younger traveler.  Signature items include Scallops Mornay, Steak Vesuvio and Capellini Bianchini, as well as fresh local ingredients.

 Additional information about The Dow Hotel Company may be found at http://www.dowhotelco.com/

Contact:  Jerry Daly, Chris DalyGray. Phone: (703) 435-6293

jerry@dalygray.com

Single-Tenant Properties Popular With Investors

        From left, Virginia Wright, Brad Thomas, Michael Bull, Randy Gold

ATLANTA, GA, Feb. 14, 2011 – While single-tenant properties make up 10 percent of the commercial real estate market, they are currently accounting for 18 percent of sales.

 Experts on “The Commercial Real Estate Show” say that’s because investors like the ease of managing the properties. Investors also like that the deals carry a relatively low financial risk, especially with a tenant that has a high credit rating.

Chris Macke of CoStar Group shared the stats on the most recent episode of the “Commercial Real Estate Show,” a radio show hosted by Michael Bull  (middle right photo)  on Biz 1190 WAFS in Atlanta that is available for download at http://www.creshow.com/.

Macke said many small investors are looking for alternative investments to bonds. Smaller investors may like retail deals with tenants such as CVS or Family Dollar, while large investors prefer bigger plays, such as the recent sale of CoStar’s headquarters in Washington.

Other guests echoed Macke’s analysis.

Virginia Wright of Bull Realty said investors call net-leased properties SWAN investments, or “sleep well at night” investments, and Brad Thomas, a net leased developer and consultant, called single-tenant net leased properties a“safe asset class.”

The next “Commercial Real Estate Show”will air Feb. 19 and will focus on the national Real Estate Investment Trust market.

Guests will include Brad Case (middle left photo) vice president, research and industry information at the National Association of Real Estate Investment Trusts; Jonathan Miniman (lower right photo), senior vice president and senior analyst at INGClarion Real Estate Investment Management; and Steven Marks (lower left photo), managing director,REITs, at Fitch Ratings.

The “Commercial Real Estate Show” is America’scommercial real estate talk radio show.

The show is known as an entertaining and enlightening resource about commercial real estate.

 The show airs every Saturday morning at 10AM EST online at the show website, www.CREshow.com and on air on Biz 1190 WAFS in Atlanta. Show podcasts are available on-demand at any time worldwide on iTunes and on the show website.

The “Commercial Real Estate Show”has quickly gained a national and international audience. Each show starts with a commercial real estate market update related to the show topic by well-known national experts.

Then the show host and a panel of three to four industry expert guests share information, insight and best practices related to eachshow’s main topic.

The show host is 30-year commercial real estate veteran Michael Bull, CCIM, the president and founder of commercial brokerage firm BullRealty, Inc.

Contact: Laura Dudebout, (678) 642-4301, ldudebout@wilbertnewsstrategies.com

Gaedeke, Hodas Law Firm Ink 8-Year Lease

  

WEST PALM BEACH, Fla. – Attorney Benjamin T. Hodas (lower left photo) has signed an eight-year lease for a 3,230-sf office with ocean views in the class A Northbridge Centre (top left photo) in downtown West Palm Beach. Occupancy is planned for mid-March.

"I looked at two or three other buildings, but I kept coming back to Northbridge Centre, given its proximity to the courthouse and the views from my office," Hodas says. "At the end of the day it's the best class A space in West Palm Beach."

The lion's share of Northbridge Centre's tenant roster is law firms, which are drawn to the high rise because it's within walking distance of the Palm Beach County Judicial Center complex.

The 21-story high rise at 515 N. Flagler Dr. is owned by Dallas-based Gaedeke Group LLC.

Gaedeke's vice president of leasing, Kirk Fetter (middle right photo), represented the landlord. Susan Thomas of Touchstone Webb Realty Co. in West Palm Beach negotiated for the tenant.

Hodas' seventh-floor office space is requiring minimal finish-out. The most significant change is the addition of a four-by-six-foot glass opening, featuring a Scales of Justice etching, to capitalize on the office's view of the Intracoastal Waterway and Atlantic Ocean. The law firm is gaining 2,030 sf with the relocation from 301 Pine St.

"The space is comfortable and will provide me with a little room for growth," says Hodas, who is managing member of a "Marital and Family Law" firm that he launched in March 2010.

Hodas, a 2009 and 2011 Super Lawyers Florida Rising Star, was admitted to the Florida Bar in 2002 and immediately began his career as an associate in the family law firm of Martin L. Haines III, becoming a partner within four years. He later joined Fisher & Bendeck, P.A. in West Palm Beach before opening his own firm. Hodas' practice is focused on complex high net-worth divorces.

For additional information, please contact Kirk Fetter, 561-515-7407

Media contact: prcourier@att.net

Arbor Realty Trust Promotes Gianni Ottaviano To Senior Vice President, Structured Finance

Uniondale, NY (Feb. 14, 2011) - Arbor Realty Trust, Inc. (“Arbor”) announces the promotion of Gianni Ottaviano (top right photo) to Senior Vice President, Structured Finance.

Mr. Ottaviano previously held the title of Vice President, Structured Finance. He reports to Fred Weber (middle left photo), Executive Vice President, Managing Director of Structured Finance & Principal, Transactions.

 In this new position, Mr. Ottaviano will now be responsible for structured finance production management, including the screening process and oversight of team members, as well as deal management on a more comprehensive level.

 During Gianni’s nearly 12-year-long tenure with Arbor, his hard work and dedication has supported his growth and elevation within the Structured Finance Group.

Over the years, he has taken on a variety of increasingly vital roles within the structured loan production process, including transaction screening, underwriting, deal management, borrower relationship management, closing and asset management.

 Through his strong work ethic and track record, he has exhibited a dedication and willingness to support Arbor’s entrepreneurial culture, often utilizing his knowledge and expertise to assist in various areas of discipline within the company.

 “As Arbor’s structured finance origination volume is expected to increase moving forward, I am very confident that Gianni’s expertise and skill level, paired with his hard work and dedication, will successfully support the strong return of our business platform,” Weber said.

Mr. Ottaviano began his real estate industry career with Arbor in 1999 after working for five years in the accounting group at Ford Models.

 Mr. Ottaviano earned a Master of Business Administration degree from Hofstra University. He also received a Bachelor of Science degree from St. John’s University. He resides in Massapequa, NY.

Contact:  Christopher Ostrowski, costrowski@arbor.com

Childress Klein Picked to Lease, Manage Terrace Park

Firm Marketing Class A Medical Office Building in Gwinnett County

ATLANTA, GA (Feb. 14, 2011) – Childress Klein Properties announced today it has taken over leasing and management of Terrace Park Medical Center (top left photo) , a medical office building one block south of Gwinnett Medical Center (top right photo).

An affiliate of Wells Fargo hired Childress Klein for the assignment, according to Gordon Buchmiller (middle left photo), managing partner of the firm’s Atlanta office. Terrace Park is a Class A medical office building completed in 2007.

The new assignment expands Childress Klein’s presence in the development, management and leasing of medical office buildings and healthcare industry properties.

In Atlanta’s North Fulton submarket, Childress Klein developed Preston Ridge Commons (middle right rendering) medical office condominiums and manages Jackson Healthcare’s building on Northwinds Parkway.

The assignment also reflects Childress Klein's growing role in the management and leasing of bank-owned properties.

Terrace Park is a three-story, 130,000-square-foot building at 771 Old Norcross Road. The building is about 50 percent leased.

“Terrace Park’s location, high-quality finishes and proximity to Gwinnett Medical Center make it an attractive option for physician practice groups and healthcare companies,” Buchmiller said.

Terrace Park is a state-of-the-art medical office building that can accommodate small and large practice groups and companies that work with and serve them. The building offers abundant surface parking for patients and tenants and reserved parking for physicians.

Contact: Tony Wilbert, Wilbert News Strategies, 404-888-3091, twilbert@wilbertnewsstrategies.com

Grubb & Ellis Announces Creation of Daymark Realty Advisors

  

SANTA ANA, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced the creation of Daymark Realty Advisors, Inc., a wholly owned and separately managed subsidiary. 

Daymark, which shall be responsible for the management of the company’s entire tenant-in-common portfolio, will provide specialized management services to the owners of the TIC portfolio.

 As a result of the restructuring, Daymark Realty Advisors becomes one of the largest real estate asset management companies in the country, serving more than 5,200 clients and overseeing a nationwide portfolio of commercial property totaling approximately 33 million square feet, including more than 8,700 multifamily units. 

Daymark will be based in Santa Ana with regional offices in Atlanta, Chicago, Dallas, Phoenix and Richmond, Va.

 “The unique nature of the tenant-in-common business requires specialized expertise and intense focus, especially as the commercial real estate industry begins to recover from the significant downturn of the past few years,” said Thomas P. D’Arcy (top right photo), president and chief executive officer of Grubb & Ellis Company.

 “Daymark Realty Advisors is dedicated to meeting the unique and evolving needs of its tenant-in-common clients, while Grubb & Ellis Company continues to focus on its core real estate services and non-traded REIT businesses.”

Daymark Realty Advisors will provide strategic asset management, property management, structured finance, accounting and loan advisory services to its existing portfolio.  Daymark is led by president and chief executive officer Steven M. Shipp (middle left photo), who previously served as executive vice president of portfolio management for Grubb & Ellis Realty Investors and who has an extensive commercial real estate background spanning more than 22 years in asset management and structured finance.  

 “Daymark enters the market as one of the most experienced managers in the industry, delivering a ‘client-centric’ model that acknowledges the unique needs of tenant-in-common owners,” said Shipp. “We have brought together a deeply talented pool of professionals with specific expertise in the disciplines necessary to preserve and enhance cash flow, valuation and, ultimately, investor returns.”

 In connection with Daymark’s launch, Grubb & Ellis and Daymark have engaged FBR Capital Markets & Co. as financial advisor.  FBR, in addition to being a leader in the real estate capital markets business, has significant experience in advising TIC asset management companies.

 “Our goal is the protection and preservation of our clients’ investments,” said Shipp. “As such, we look forward to working with our clients to find creative solutions that solve for the general lack of capital that is all too common in the TIC industry.” 

Contact: Janice McDill, Phone: 312.698.6707                                     

Email: Janice.mcdill@grubb-ellis.com

          

Marcus & Millichap Closes Two Sales Valued at $27.8 Million

 Medical Office Building in Southern California Sold for $14.13 Million

 TARZANA, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Wilbur Medical Plaza (top left photo), a 53,125-square foot multi-tenant specialty medical building in Tarzana. The sales price of $14,130,500 represents $266 per square foot.

 Evan Kovac and Nic Lyon, both healthcare real estate investment specialists in the firm’s San Diego office, represented the seller, Atlantic Pearl Investments Inc., based in Los Angeles (West Hollywood). The buyer was Encino, Calif.-based Ethan Christopher LLC in a joint venture with a well- known institutional medical office building investor.

 “Wilbur Medical Plaza was privately marketed to a select group of medical office REITs, pension funds, private equity and institutional medical office investors, both locally and nationally,” says Kovac. “Ethan Christopher LLC was selected from among several offers from highly qualified bidders.”

“Wilbur Medical Plaza is the premier medical office building in Tarzana’s historically tight medical office submarket,” adds Ethan Christopher’s principal, Mark Hamermesh. “Marcus & Millichap handled this transaction with expertise and professionalism.”

“We are very pleased to have successfully executed an important transaction in the medical office marketplace,” notes Lyon. “It has been our pleasure to work with such a professional and reputable group as Atlantic Pearl Investments throughout this transaction and also with Ethan Christopher, who we believe will continue to operate Wilbur as the premier building in the marketplace.”

Wilbur Medical Plaza is located on a 30,218-square foot corner parcel at 5620 Wilbur Ave. in Tarzana, less than one mile from the Providence Tarzana Medical Center, a 245-bed acute-care facility. The property is easily accessible from U.S. Highway 101 and Ventura Boulevard.

 Built in 1986, the three-story Wilbur Medical Plaza features four levels of subterranean parking, prominent signage and a sleek exterior surrounded by lush landscaping. The building’s tenants are physicians, an on-site surgery center, an imaging center, a pharmacy and other medical related businesses.

Connecticut Shopping Center Trades for $13.7 Million

DERBY, CT – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Derby Shopping Cente (middle right photo),  a 170,097-square foot shopping center in Derby.

The sales price of $13.7 million represents $81 per square foot and a 7.31 percent cap rate.

 Adam Mancinone and Blake Barbarisi of Marcus & Millichap’s New Haven office, and Robert Horvath and Todd Tremblay in the firm’s Boston office, represented the seller and developer, a partnership of New York-based investors. Mancinone, Barbarisi, Horvath and Tremblay also represented the buyer, a Connecticut-based private investor.

“The Derby Shopping Center benefits from its dominant location along New Haven Avenue, Connecticut Route 34,” says Mancinone. “The sales price and cap rate in this transaction can be attributed to property’s exceptional location, tenant strength and high percentage of long-term triple-net leases.”

The property is located at a signalized intersection at 500 New Haven Ave. in Derby, with excellent visibility from two directions.

Redeveloped in 2008, Derby Shopping Center is comprised of five single-tenant buildings on 16.8 acres of land. Tenants include Lowe’s Home Improvement Center, a freestanding Dunkin Donuts, Burger King, Webster Bank and Dollar Tree.

The 152,890-square foot Lowe’s opened for business in December 2008 and has a 20-year absolute triple-net ground lease with eight five-year options. Each option period has a 10 percent escalation.

Derby is located in southwest Connecticut approximately one hour’s drive from New York City and two hours from Boston.

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

Marcus & Millichap Capital Corp Arranges $9 Million in Multifamily Loans

Kenmore, WA Property Refinanced With $5.32 Million Loan

KENMORE, WA,– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5,320,000 refinancing loan for a 75-unit, 59,000-square foot multifamily property in Kenmore.

Glenn Gioseffi, a director in the firm’s Seattle office, arranged the loan.

“During the course of the transaction, interest rates began to move up quickly,” says Gioseffi. “MMCC introduced the transaction to an agency lender and a local bank at the same time.

“The bank’s ability to lock rate produced an interest rate almost 0.5 percent lower and we were able to get an extra $300,000 in loan proceeds,” adds Gioseffi.

The loan is for 10 years, amortized over 30 years with a fixed interest rate of 4.12 percent. The LTV is 65 percent.

“One week before the lock expired and we were set to fund, the lender informed us that they needed a phase two environmental inspection,” Gioseffi continues. “We sourced a soils group that could drill and analyze samples within the time frame and the loan funded on the lock expiration date.”

“We are seeing people move towards loans that can be locked at the start,” Gioseffi concludes. “The recent rate jump has made the local banks’ small rate premium an attractive exchange in return for a locked rate.”

Canoga Park, CA Apartments Gets $3.64 Million Loan

CANOGA PARK, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $3,648,000 loan on a 67-unit multifamily property in Canoga Park.

Sharone Sabar, a director in the firm’s Encino office, arranged the loan.

“Using the borrower’s financial strength and management experience, MMCC worked with the lender to obtain pro forma underwriting, which helped the borrower receive high loan to value,” says Sabar.

 “The borrower wanted a GSE loan to purchase this property but the significant amount of tuck-under parking was problematic and ultimately prohibitive.

“The solution was to arrange a carryback with the seller in order to retrofit the building prior to placing long-term debt,” continues Sabar. “The retrofit took approximately 10 weeks to complete and we closed with a GSE immediately thereafter.”

The loan is for seven years, amortized over 30 years with a fixed interest rate of 5.49 percent. The LTV is 75 percent.

Press Contact: Stacey Corso,  Marcus & Millichap Capital Corporation,

(925) 953-1716

www.mmCapCorp.com

Downtown Avalon Park to Welcome Bayridge Sushi

 ORLANDO, FL --- Avalon Park Group’s Vice President Rich Browning (middle right photo) recently negotiated a long-term lease agreement with Bayridge Sushi (top left photo)  for 5,427 square feet of retail space at 3680 Avalon Park Blvd. East in downtown Avalon Park (lower  left photo). 

Stephanie Hodson, marketing director at Avalon Park Group, said this will be owner Ben Lu’s third Bayridge Sushi location in Central Florida.

“Ben Lu moved to New York City when he was a teenager to work in his Master Sushi Chef’s restaurant,” Hodson explained. “He started the first Bayridge Sushi restaurant in Bayridge, NY which was rated 4 stars (****) by the New York Daily News. 

Ten years ago he opened his first Central Florida restaurant in Longwood to great reviews including the Orlando Sentinel which commented “If raw fish is your dish, this is your place” and Orlando Weekly which stated “Bayridge Sushi…swimmingly good.”

He later opened a second Central Florida location on SR 436 near Apopka, which was voted by a local newspaper “Best Sushi 2010,” she said.

Buildout will commence during the first quarter and the restaurant will offer a full bar, hibachi tables and outdoor seating.   Hodson said the restaurant is expected to open by the end of September or October 2011. 

Bayridge Sushi was represented by Frank Thomas of Fact Business & Realty, Inc.

For more information about Bayridge Sushi visit http://www.bayridgesushionline.com/

For more information contact:

Stephanie Hodson, Marketing Director Avalon Park Group, 407-658-6565 stephanie@avalonparkgroup.com

Rich Browning, Vice President Avalon Park Group, 407-658-6565, richb@avalonparkgroup.com

Frank Thomas, Founder Fact Companies, 407-333-3305,  factinvest@cfl.rr.com

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

Lvershelco@aol.com

http://www.avalonpark.com/

Marcus & Millichap Brokers $13 Million Lowe’s Ground Lease in Denver

DENVER, CO, Feb. 11, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 125,601-square foot site in Denver, which is ground-leased to Lowe’s. The sales price is $13 million.

Jamie Medress, a senior vice president investments, Mark Ruble (top right photo), an associate vice president investments, both in the firm’s Phoenix office, and Michael Hoffman (lower left photo), a first vice president and regional manger of the Denver office, represented the seller, an Idaho-based developer. Marcus & Millichap also represented the buyer, a Phoenix-based real estate investment firm.

“Brighton Corp. demolished an old shopping center at the site in order to ground-lease this property to Lowe’s,” says Ruble. “The scarcity of quality product and the multiplicity of offers led to a positive outcome for both parties.”

The site is located at 2220 West Alameda Ave. in Denver.

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

Hal Warren at Hendricks & Partners in Orlando Awarded Certified Apartment Portfolio Supervisor Professional Designation

ORLANDO, FL --- Hal Warren (top right photo), associate partner at Hendricks & Partners in Orlando, was recently awarded the prestigious Certified Apartment Portfolio Supervisor (CAPS) professional designation by the National Apartment Association Education Institute (NAAEI).

 Warren said the NAAEI’s CAPS professional designation---one of the Institute’s most difficult professional qualification---requires the successful completion of five rigorous educational courses that total more than 40 hours of classroom time.

 CAPS certification also requires two years of experience managing a portfolio of apartment properties.

 “CAPS is the industry’s highest certification for professional portfolio managers and according to Cole Whitaker (lower left photo), who heads Hendricks & Partners southeast region,  “Warren is one of a few multi-family investment sales brokers in the U.S. to earn the CAPS certification,” 

Warren, who earned his Bachelor’s Degree from the College of Business at Florida State University in Tallahassee and his MBA from the University of Central Florida, joined Hendricks & Partners in 2008 and ranks as one of the most active investment sales brokers of multi-family properties and development sites in Florida.

Warren has almost 20 years of experience in the field, in the Florida region at United Dominion Realty Trust, The Apartment Group and Cushman & Wakefield.

 Currently Warren is serving a second term as chairman of the City of Orlando’s Historical Preservation Board.

For more information contact:  

Hal Warren, Associate Partner, Hendricks & Partners 407-218-8881 hwarren@HPAPTS.com;

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

  

PwC Signs Long-Term Lease for Five Floors at 12th & Midtown in Atlanta

 ATLANTA, GA /PRNewswire/ -- PwC US, the Big Four assurance, tax and advisory firm, has recommitted to its future in Midtown Atlanta by signing a 16-year lease with Daniel Corporation for 140,000 square feet of space at the 1075 Peachtree office building (top left photo), part of 12th & Midtown, a mixed-use development that serves as the cornerstone of Atlanta's Midtown Mile.

Approximately 1,100 PwC partners and professionals will move into five floors of the 725,000-square foot state-of-the-art facility in mid-2012.

Beyond signaling its plans for continued growth and its confidence in the Atlanta market, PwC determined that a move to 1075 Peachtree would offer a number of advantages for the firm's clients and people, including an on-site Loew's hotel and conference center that will facilitate on-site events and support training needs. The building is also Silver LEED certified by the US Green Building Council.

"Our business and culture are based on building relationships, delivering value and winning in the global marketplace. 1075 Peachtree supports those elements locally for both our clients and our people," said PwC Market Managing Partner Gary Price.(middle right photo)  "The new building's impressive amenities and features, stunning architecture and prime Midtown location were too compelling to pass up," Price added.

"PwC embodies the international leader we envisioned occupying the space in 1075 Peachtree," said Doug Guedry, (middle left photo) vice president of office leasing for Daniel Corp. "The firm's reputation for outstanding performance and exceptional innovation is in line with our mission to bring value to Midtown, and we look forward to collaborating with PwC as they build out a world-class office environment."

The transaction was brokered by Timothy Dempsey and John Shlesinger of CB Richard Ellis, a commercial real estate firm offering a full range of services for property owners, occupiers and investors.

CONTACT: Mary Reynolds, mary@thereynoldsgroupinc.com, or Audrey Califf, Audrey@thereynoldsgroupinc.com, +1-404-888-9348, v., +1-877-231-1568, tf., or +1-404-888-9349, f., or Elliott Frieder, PwC US, +1-646-471-3108, elliott.frieder@us.pwc.com

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

Broadstone REIT Acquires Five Net-Leased Medical Office Properties for $18.4 Million

 ROCHESTER, N.Y., Feb. 11, 2011 /PRNewswire/ -- Broadstone Real Estate, LLC today announced that Broadstone Net Lease, Inc. (BNL) recently completed the acquisition of five triple net-leased medical office properties for a combined purchase price of $18.4MM.

On January 14, 2011, BNL acquired four radiology centers in a sale and lease back transaction. The properties are located in the greater Tampa Bay, FL area. The four sites comprise more than 50,000 SF and are leased to Tower Radiology Centers for 15 years. Tower is the leading outpatient imaging provider in the Tampa Bay area with 11 locations and more than 30 radiologists.

On January 31, 2011, BNL also completed a sale and lease back transaction for the Plastic and Cosmetic Surgery Center of Texas. The 11,000 SF site is located in Plano, TX and is leased for an initial term of 15 years.

Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, absolute net-leased properties located throughout the United States.

 BNL now holds a diversified portfolio of medical office, restaurant, convenience store, specialty office and distribution centers, including 79 properties located in 21 states.  It is currently targeting acquisitions in the $5 to $30 million range.

 The REIT is managed by Broadstone Real Estate, LLC which is certified as a Women's Business Enterprise by the Women's Business Enterprise National Council.

CONTACT: Brandon Tones, Acquisitions, +1-585-262-9336, brandonto@BroadstoneRE.com, or Chris Czarnecki, Capital Markets, +1-585-399-7040, chriscz@BroadstoneRE.com, both of Broadstone Real Estate, LLC

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

Jones Lang LaSalle Completes 16,900-SF Office Lease with Kayne Anderson Rudnick in Century City, CA

 CENTURY CITY, CA, Feb. 11, 2011 — Jones Lang LaSalle represented Kayne Anderson Rudnick in a 16,900-square-foot lease renewal at Gateway East, (top left photo) a 13-story, 286,000-square-foot, Class A office property located at 1800 Avenue of the Stars in Century City, Calif. 

Jones Lang LaSalle’s team of Managing Directors John Ghiselli, Mike McRoskey and John McRoskey represented Kayne Anderson Rudnick in the transaction.  The property owner, Topa Management Company, was represented in-house by Darren Bell.

“The current economic conditions and our knowledge of local market dynamics allowed Jones Lang LaSalle to negotiate terms enabling Kayne Anderson Rudnick to keep its rent very competitive, extend its lease term and provide for future flexibility,” said Ghiselli.

Kayne Anderson Rudnick Investment Management is a registered investment advisor based in Los Angeles, California with approximately $5 billion in assets under management.

Founded in 1984, their clients include affluent individuals, endowments, foundations, corporations, public funds, and pension plans for who it manages a range of portfolios having a common disciplined, high-quality investment philosophy.

For more information, please visit our website, http://www.kayne.com/

Contact:  David Ebeling, Ebeling Communications, (p) 949.861.8351, (c) 949.278.785, david@ebelingcomm.com

New Leases From Berger Commercial Realty Corp.

FORT LAUDERDALE, FL. – Keith Graves (top right photo) of Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced two new lease transactions.

 Graves represented landlord SPG NW 63rd Court, LLC in the lease of 59,912 square feet of industrial space in a free-standing warehouse and manufacturing building at 2775 NW 63rd Court in Fort Lauderdale to tenant Off Grid Solar, Inc.

Graves also represented landlord 900 S.E. 3rd Avenue, LLC in the lease of 2,797 square feet of space in a three-story office building located at  900 S.E. 3rd Ave. in Fort Lauderdale to tenant Bermello, Ajamil & Partners, Inc.

Contact:  Marielle Sologuren, Pierson Grant Public Relations

(954) 776-1999, ext. 226, msologuren@piersongrant.com