Crossman & Company Releases ICSC 2010 Florida Retail Report

ORLANDO, FL. --- Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, will be presenting the bi-annual ICSC Spring Florida Retail Report at the ICSC West Florida Idea Exchange on Feb. 24-25, 2011 in Tampa. 

Crossman & Company has produced the report on behalf of ICSC for the past 15 years, and includes contributions from over 45 separate companies throughout the state.

 “We have seen a return to stability in the market in the first half of 2010,” stated Justin Greider (top right photo), the primary author of the report.

 “In nearly every market of the state we have seen the freefall of rents and occupancy leveling off, indicating we may have found the bottom of the market, though significant challenges still remain for owners and retailers alike.”

The report notes that rental rates for the entire state average $14.27 for year-end 2010, down nearly 15% from the peak in the first quarter of 2008.  Occupancy has leveled off at 89%, a decrease of about 6% from its peak in 2006.

 “The outlook for the next 6-12 months is one of cautious optimism,” Greider added, “People throughout the state are very positive, but the recovery is going to be long and slow, and there is still a lot of over-valued product that has to work its way through the system.”

For a copy of the report, please contact:

Justin M Greider, Vice President – Director of Leasing, Crossman & Company, ICSC Southern Division NextGen Chair, 407-581-6225

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

Molly Delahunty, Crossman & Company, 407-581-6220 mdelahunty@crossmanco.com;

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

23rd Hunter Hotel Investment Conference in Atlanta Logs Near-record Pre-registrations

ATLANTA, GA,  Feb. 23, 2011—Officials of the upcoming Hunter Hotel Investment Conference, one of the four major national annual hotel investment conferences, today said that a faster than anticipated hotel industry recovery has resulted in unexpectedly high pre-event registrations for the Conference to be held March 6-8 at the Atlanta Marriott Marquis in Georgia. 

“Pre-registration is the second highest in our 23-year history,” said Bob Hunter (top right photo), CEO of Hunter Realty and conference co-chair.  “Rising occupancies and positive movement in average daily room rate have certainly brightened the outlook.  Feedback from registrants indicates high interest in doing transactions and the improving financing environment”

A key indicator of the prevailing optimism is a return of lenders in large numbers to the conference, according to Lee Hunter (middle left photo), conference co-chair. 

“We already have 24 lenders attending and expect that number to climb,” he said.  “With substantially more hotels coming to market, both by owners and special servicers, we are already seeing considerable activity on the transaction front. 

“We expect a lot of interest in our panels on hotel values, ranging from what’s my hotel worth to buying and selling today.”

The conference is targeted to hotel owners and draws the largest percentage of investors and owners of all the major hotel investment conferences.

 Content this year is designed to provide that group with the creative strategies to take maximum advantage of the rebound.  The Hunter Hotel Investment Conference will present more than 100 speakers from 27 states in 25 sessions.

For more information on the program and to register, please visit the conference website at http://www.hunterconference.com/, or contact Bob Hunter or Nancy Petenbrink, Conference Director, at 770-916-0300 or by email at nancy.petenbrink@hunterhotels.net

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The conference headquarters is located at 300 Galleria Parkway, S-620, Atlanta, Ga. 30339.

Contact:  Jerry Daly, Chris Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293

              

New Faces and Recognition at Grubb & Ellis

Robin Newton Appointed Vice President, Retail Group in Walnut Creek, CA

WALNUT CREEK, CA (Feb. 23, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that 27-year commercial real estate veteran Robin Newton (top right photo) has joined the company as vice president, Retail Group. 

 “With her expertise and successful track record, Robin will be a great resource for the company and our clients,” said Edward F. Del Beccaro, managing director, Walnut Creek.  “She is a tremendous addition to our growing team of high caliber retail professionals and will help us remain on the forefront of building our market share and facilitating our clients’ needs.”

Specializing in tenant and landlord representation, Newton joins Grubb & Ellis from Cornish & Carey Commercial Newmark Knight Frank.

Todd Henderson Joins Grubb & Ellis Landauer Valuation as Managing Director, Seattle

SEATTLE, WA  (Feb. 22, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Todd Henderson has joined Grubb & Ellis Landauer Valuation Advisory Services as managing director of its Seattle office.

“In Todd’s 18 years in the commercial real estate industry, he has developed a deep understanding of many property types throughout the Pacific Northwest,” said Chad Campbell (middle left photo), senior managing director, Pacific Northwest, Grubb & Ellis Landauer Valuation Advisory Services.  “I’m confident that we will be able to leverage Todd’s expertise and extensive relationships to help grow our business in Seattle.”

Henderson joins the company from CB Richard Ellis Valuation Advisory Services, where he was a senior appraiser.

 Contact: Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

Matthew Stoehr Named One of the ‘Top 35 to Watch’ by Realcomm

SANTA ANA, CA -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced Matthew Stoehr (lower right photo), chief information officer, has been named one of Realcomm’s “Top 35 to Watch in 2011.” 

The distinction honors individuals and organizations that are committed to furthering the use of innovative technologies in the commercial and corporate real estate industries.  This is the second time Stoehr has been named to the list.

 The distinction recognizes Stoehr in part for his role in orchestrating Grubb & Ellis’ strategic alliance with Manhattan Software, a first-of-its-kind information management system platform that combines Grubb & Ellis’ world-class real estate experts with an enterprise-system-level integration of all functions of real estate.

 Stoehr was previously honored by Realcomm in 2008.  He joined NNN Realty Advisors in 2005 and became the chief information officer of Grubb & Ellis after the companies merged in 2007. 

 For more information about Grubb & Ellis’ alliance with Manhattan Software, visit http://www.remanagementrevolution.com/

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Contact:  Erin Mays, Phone, 312.698.6735                              

Email:  erin.mays@grubb-ellis.com

               

          

HFF arranges $38 million in refinancing through Freddie Mac for Tampa area multi-housing communities

  

MIAMI, FL – HFF announced today that it has arranged refinancing totaling $38.0 million through Freddie Mac for The Addison (top left photo) and Courtney Trace Apartments (lower right photo) in Brandon, Florida.

HFF worked on behalf of a partnership between Case Pomeroy Properties and ContraVest to secure the two seven-year securitized loans, which will refinance construction loans originated when the properties were developed in 2006 and 2007. 

The loans, both with interest rates below five percent, will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  

The Addison and Courtney Trace are located at 2516 Annapolis Way and 1131 Courtney Trace Drive respectively, close to the Westfield Brandon Mall, Interstate 75 and the Lee Roy Selmon Expressway in Brandon.

  Both communities feature one-, two- and three-bedroom units and community amenities such as a fitness center with towel service, resort-style pool, tanning studio, sundeck area with grills, pet walk and care stations, and the security of a gated community.

The HFF team representing the borrower included director Elliott Throne and managing director Jim Cadranell.

Based in New York, New York and Jacksonville, Florida, Case Pomeroy Properties is a private company holding interests in real estate projects primarily in the southeastern United States. 

ContraVest is a private multi-housing development, construction, and property management company that was founded in 1986 and is based in Altamonte Springs (Orlando), Florida.

Contacts:

Elliott P. Throne, HFF Director, (305) 421-6549, ethrone@hfflp.com

Kristen R. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com,

                                                                                                                 

100 Florida Condo Projects Lose Fannie Mae Financing Approval

MIAMI, FL--More than 100 new, Florida condominium projects - including 28 in South Florida - have lost their financing approval certification from Fannie Mae in the last six months, making it more challenging for buyers to obtain mortgages when purchasing units in any of the buildings, according to a new report from CondoVultures.com.

As of Feb. 21, 2011, there are 160 new, Florida condominiums with the required financing certification needed for lenders to provide mortgages that would qualify to be resold on the secondary market to the public-private entity Fannie Mae and others that adhere to the same criteria.

The number of approved new, Florida condos could have been even lower if not for 31 new condominiums - with six projects in the tricounty South Florida region - obtaining Fannie Mae certification within the last six months to help offset the number of projects that did not have their approvals renewed, according to an analysis of Fannie Mae documentation. 

 
"Financing a new condo in Florida just got tougher for those buyers who lack the cash to purchase a unit with no mortgage," said Peter Zalewski (top right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"After a surge in new condo project approvals in 2009 and the first half of 2010, dozens of projects have failed to renew their certification with Fannie Mae. The unanswered question is, did the scrutiny become more stringent or did the projects simply decide the approval was unnecessary given the resistance by banks to originate mortgages for new, Florida condo purchases." 

Loan origination trends are to be discussed at the upcoming Condo Vultures® webinar entitled "Buying Mortgage Notes At Deep Discounts" on Tuesday, March 1, from 6.30 pm to 8 pm. Keynote speaker Rich Meyer of the Foreclosure Academy is scheduled to discuss the latest mortgage issues in Florida during the scheduled 90-minute live broadcast.

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

Hendricks & Partners Reports Sales of 3,302 Apartment Units in 2010

ORLANDO, FL--- The Orlando office of Hendricks & Partners, the nation’s largest multi-family advisory and research firm, reported it negotiated sales of 10 apartment properties in 2010 that total 3,302 units in the Southeast.

Cole Whitaker (top right photo), partner who heads the Orlando office of Hendricks & Partners and oversees the firm’s operations throughout the Southeast, said he and associate partner Hal Warren (lower left photo) negotiated all 10 multi-family property sales as well as sales of three Florida development sites that total 402 acres.

Multi-family property sales included two student housing properties, Whitaker said.

“We project that transactions involving apartment properties will increase in 2011 as the economy improves,” Whitaker said.

“We don’t foresee significant new construction region-wide,” Whitaker said, “However, in certain submarkets in the southeast, it makes sense to consider new multi-family development and we expect to see some new construction,” he said.

For more information, contact:  

Cole Whitaker, Southeast Partner, Hendricks & Partners 407-218-8880 cwhitaker@HPAPTS.com

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

  

Industry Expert Says REITS Have Unique Ability to Benefit from Distressed Asset Sales

ATLANTA, GA, Feb. 22, 2011 – While the trauma is likely to continue in commercial real estate, that doesn’t necessarily mean REITS will suffer, said Brad Case (lower left photo), senior vice president at National Association of Real Estate Investment Trusts. In fact, REIT should benefit by taking acquiring distressed assets at discounted prices, he added.

Case made his comments during a guest appearance on the “The Commercial Real Estate Show,” a national talk radio show hosted by Michael Bull  (top right photo) on Biz 1190 WAFS in Atlanta.

“While investors may be forced into a distressed sale, REITS have access to capital and can pick up those properties,” Case said. “To a great extent, the bad news that people read about commercial mortgage defaults and distressed assets amounts to good news for REIT investors.”

Case was one of several guests on the most recent show, which focused exclusively on REITS.

Another guest, Jonathan Miniman, senior vice president at ING Clarion Real Estate Investment Management, said “U.S. REITS are expected to have positive earnings growth in 2011 and accelerating in 2012.” The entire show is available for download.

The next “Commercial Real Estate Show” will air Feb. 26 and will focus on asset and property management strategies. Guests will include Victor Calanog, director of research at Reis; Ron Goss, president of the Institute of Real Estate Management; Beth Machen, secretary treasurer of the Institute of Real Estate Management; and Harry Conley, president and CEO of Fifth Street Management Company.

Contact:  Laura Dudebout, (678) 642-4301

ldudebout@wilbertnewsstrategies.com

Jeffrey V. Farina Joins Prism Hotels & Resorts as Senior Vice President of Business Development

DALLAS, TX, Feb. 22, 2011—Officials at Prism Hotels and Resorts today announced that Jeffrey V. Farina (top right photo) has joined the company as senior vice president of business development.

 He will focus on seeking new third-party hotel management contracts, as well as joint-venture acquisitions.  He will be located in Prism’s New York office.

“While Prism is widely recognized as the expert in turning around distressed hotels, approximately 50 percent of our business is long-term hotel management contracts,” said Steve Van (lower left photo), Prism’s president and CEO.

  “We believe over the next three years, there will be great demand for our expertise from owners who want to benefit from our quick turn-around skill and our superior financial performance in all phases of the business cycle.  Jeff will be our primary point of contact for these groups. 

“Because we work so closely with special servicers and bankers with distressed assets, we have an acquisition pipeline that others don’t,” he noted.  “We have assembled a number of investment groups with different criteria who have the cash and flexibility to invest in individual assets and portfolios valued at up to $300 million.   Jeff will play a key role in putting those transactions together.”

Previously Farina was vice president of development for Windsor Capital Group, a privately held hotel management and development firm.

 Additional information about the company may be found at http://www.prismhotels.com/

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Contact: 

Kevin Gallagher,  Senior VP, Business Development, Prism Hotels & Resorts,

(219) 257-1039                                                                 

Jerry Daly or Chris Daly (Media), (703) 435-6293

jerry@dalygray.com or chris@dalygray.com

Molinaro Koger Transacts $500 Million in Hotels in Past Three Months

 WASHINGTON, D.C., Feb. 22, 2011—Amid growing signs of a rapidly rebounding hotel real estate market, Molinaro Koger (MK), a global hotel-exclusive real estate brokerage, advisory and capital markets firm, today announced that the firm has represented sellers of $500 million in hotels in nine separate transactions during the past three months. 

“The global hotel real estate market began awakening in the 2010 third quarter and is becoming more active every day,” said Robert T. Koger (top right photo), MK president. 

“Values have come back to where owners are more comfortable transacting and buyers are seeing an upward trend in RevPAR, which is fueling the increase in activity.  Financing is becoming increasingly available, although cash is still king.”

Koger noted that both individual assets and portfolios are coming to market.  “Real estate investment trusts are very active, accounting for nearly half of all institutional-quality transactions because of their lower cost of capital and different investment return requirements,” he said.

 “Europe is just beginning to firm up and we expect transactions there to accelerate over the next 12 to 18 months.”

            Highlights of the transactions include:

·         Grand Hyatt Tampa Bay (Florida)—MK represented Hyatt Hotels & Resorts in the sale of this14-story luxury resort featuring 445 rooms, including 45 waterfront casitas and 23 suites.  Located on approximately 35 acres, the property offers 43,000 square feet of flexible indoor and outdoor function space, two upscale restaurants, a café and lobby lounge, swimming pools, tennis courts, business center and florist. 

·         Radisson BLU Palais Hotels, Vienna, Austria—MK transacted the sale of this five-star hotel for B&C Holdings.  Centrally situated on the Ringstrasse in the historic old town and core of Vienna, the 247-room property faces the Ring and the Stadtpark.  The hotel consists of two connected palaces built in the 19th century.  The hotel provides a restaurant, lighter fare café and bar.

·         Hilton Alexandria Mark Center, Alexandria, Va. (Middle left photo).—MK represented joint-venture owners Amstar and Davidson Hotels in the sale of this 31-story, 496-room hotel located inside the Washington Beltway close to Washington, D.C.  The hotel features 45,000 square feet of meeting space, including more than 7,500 square feet of IACC-certified conference space, plus 10,000 square feet of outdoor lakeside event space.

           Xona Resort Suites, Scottsdale, Ariz.—MK oversaw the sale of this resort for Capmark Bank.  Located in the heart of the exclusive Princess Community in North Scottsdale, the 431 all-suite, highly landscaped property is on approximately 12 acres.  The resort features four outdoor pools with whirlpools, fitness center, gift shop and a free-standing restaurant and lounge, as well as a golf concierge.  The oversized suites include separate living rooms, balconies, dining rooms and full-sized kitchens. 

·         Sheraton Premiere at Tysons Corner, Va.—MK acted on behalf of joint-venture sellers Felcor Lodging Trust and Starwood Hotels & Resorts on this major hotel located in one of the nation’s most desirable suburban markets.  Sitting on approximately nine acres, the 443-room hotel offers 40,000 square feet of meeting space, including a nearly 11,000 square-foot grand ballroom.  The property features a heated indoor and outdoor swimming pool, Jacuzzi and sauna, health club, salon, upscale restaurant and lounge.

  For further information about the company or current hotel property offerings, please call 703.760.9600 or visit the company’s website http://www.mkhotels.com/

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Contact:  Jerry Daly, Chris Daly, Media, Daly Gray, Inc., (703) 435-6293

jerry@dalygray.com

Carter Hires New Member for K-12 Program Management Team

ATLANTA, GA (Feb. 22, 2011) – Carter, one of the country’s leading commercial real estate investors, advisors and services firms, announced today that Wiley Doby (top right photo), Ph.D. has joined Carter to focus on business development in North Carolina for the K-12 program management team.

Recognized as an innovator and achiever within the education field, Wiley has over 12 years of experience as a superintendent and eight years in principal/assistant principal positions.

 In his new role, Wiley will rely on his experience to help clients address instructional and facility issues.  His focus on school district planning stages will include enrollment projections, facility needs assessments, operational planning, master planning and program management in the North Carolina market.

“As a former superintendant of several North Carolina school districts, Wiley brings an important perspective to our team because he understands the issues and challenges of running building programs,” said Danny Jardine (middle left photo), senior vice president with Carter.  “Perhaps even more importantly, Wiley is passionately focused on our clients’ success.”

Wiley holds a doctorate from Wake Forest University, a master's degree from Appalachian State University and a bachelor’s degree from Wake Forest University.

For additional information on Carter, please visit http://www.carterusa.com/.

Contact: Laura Dudebout, (678) 642-4301

ldudebout@wilbertnewsstrategies.com

OliverMcMillan Plans to Acquire The Streets of Buckhead in Atlanta

ATLANTA, GA (Feb. 22, 2011) - OliverMcMillan, the largest private property owner in downtown San Diego, has reached an agreement to acquire The Streets of Buckhead project (top left photo) in Atlanta and plans to begin construction this year.

Financial closing is expected in the next 60 days on the sixblock,

eight-acre luxury mixed-use project located in the heart of Atlanta’s upscale Buckhead neighborhood.

San Diego-based OliverMcMillan has a 20-year track record of developing urban and mixed-use retail, entertainment, residential, and office projects in multiple urban locations.

OliverMcMillan also has extensive experience with public-private developments. The Streets of Buckhead will be the firm’s first development project in Atlanta.

OliverMcMillan has more than $1 billion worth of projects under development in seven cities across the United States, including San Diego, Honolulu, Houston, and now Atlanta.

“The Streets of Buckhead represents a prime example of our core focus, which is transforming urban properties into highly attractive and special pedestrian-oriented mixed-used developments that complement the neighboring community,” said Dene Oliver, (middle right photo) CEO of OliverMcMillan.

“Where some have seen formidable hurdles, OliverMcMillan sees a tremendous opportunity with The Streets of Buckhead.

:We are working closely with Mayor Kasim Reed, who has pledged his

support for restarting and finishing the stalled development. We look forward to finishing a world-class development with inspiring retail, great restaurants and cafés, two residential towers,and boutique offices.

“We will be adding our own unique touches to create a luxury shopping

district in Buckhead that will be the envy of the South. All of us understand it has been painful for everyone to have this development in the middle of Buckhead stalled for the last two years, and we will do all we can, with the help of the local community, to restart, finish, and open this local gem.”

For more information about OliverMcMillan, visit http://www.olivermcmillan.com/ contact Jeremy orMeredith at (619) 321-1111, jmeredith@olivermcmillan.com.

 Media Contacts: Patrick Hill/Bryan Long, Jackson Spalding, (404) 724-2500

blong@jacksonspalding.com

Meridian Capital Group, LLC Arranges $15.75 Million in Financing for the Acquisition of Landmark at Waters Pointe in South Pasadena, FL

NEW YORK, NY, Feb. 22, 2011 – Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, secured $15.75 million in financing for the acquisition of the five-story, 198-unit Landmark at Waters Pointe (top left photo) multifamily property located at 1885 Shore Drive South in Pasadena, FL.

The five-year loan features a favorable fixed-rate of 4.78% and requires interest-only payments for the first two years. Landmark at Waters Pointe is a newly renovated property that recently reached stabilization.

“Our client will benefit from the interest-only feature which is a significant accomplishment in the current market environment for a full-leverage loan such as this,” said Michael Brown, Managing Director of Meridian’s Florida office who negotiated the transaction along with Brad Gladsden.

“We were able to achieve this structure and leverage point based on the strength of the borrower and the high-quality of the collateral property,” Gladsden added.

Contact:

Jonathan Stern

Meridian Capital Group, LLC

212/972-3600

jstern@meridiancapital.com

                                                       

HFF arranges $80 million refinancing for landmark Hawaii open-air shopping and entertainment center

LOS ANGELES, CA – HFF announced today that it has arranged an $80 million refinancing for Whalers Village (top left photo), a 110,836-square-foot, open-air shopping and entertainment center located along Kaanapali Beach (middle right photo) in West Maui, Hawaii.

HFF worked exclusively on behalf of WV Sub, LLC, an entity controlled by General Growth Properties, to secure the 10-year, fixed-rate loan through Goldman Sachs & Co.  The securitized loan will refinance an existing loan on the center.

Whalers Village is located at 2435 Kaanapali Parkway in western Maui within walking distance to approximately 5,000 hotel, timeshare and condominium units along Kaanapali Beach. 

Originally built in 1970, the property has been renovated and expanded over the years and is currently 98 percent leased to 70 tenants. 

 Notable tenants include Louis Vuitton, Tommy Bahama, Coach, Pacific Sunwear, Hula Grill, Leilani’s Restaurant and Cane & Taro Restaurant. 

Whalers Village is also home to the Whalers Village Museum and Theater, and the mall’s center stage that hosts more than 350 performances a year.

According to HFF, Whalers Village ranks first in market share in Maui capturing approximately one of every four retail dollars spent on Maui.  It is a premier asset with a world-class location along one of Maui’s famed beaches.

The HFF team representing the borrower included senior managing director Paul Brindley (lower left photo), director John Crump and executive managing director Mark Gibson.

GGP has been in the shopping center business for more than 50 years. One of the nation's largest real estate investment trusts, GGP owns, operates and manages shopping malls in 43 states.

GGP has ownership and management interests in more than 180 regional shopping malls totaling approximately 200 million square feet of retail space. Headquartered in Chicago, Illinois, GGP has approximately 3,200 employees nationwide. GGP is traded on the New York Stock Exchange under the symbol GGP. 

Contacts:    

Paul Brindley, HFF Senior Managing Director, (310) 407-2100,                                        pbrindley@hfflp.com

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

krmurphy@hfflp.com

Colliers International Completes $2.5 Million Multifamily Sale

HUNTINGTON BEACH, CA, Feb. 22, 2011. – Colliers International, the second largest global real estate services organization, has completed the sale of 10 Condos sold in bulk, located at 7935 Bay St. in Downtown Huntington Beach, Calif. (top left photo), to Symphony Real Estate Fund, an investor in broken condominium conversions.

The transaction was valued at $2,550,000.

 The property, known as Las Brisas, consisting of 10 turnkey condos, as part of a larger 79 Unit Complex, is located just a quarter mile from the beach. Originally built as condos but run as apartments since 1980, the property was then converted back to condos in 2006.  The Buyer, Symphony Real Estate Fund plans to sell the condos individually for a profit.

“We received more than 30 all-cash offers on the property, with the transaction taking 7 months to close” said Pat Swanson, vice president of multifamily investments in Colliers International’s Irvine office, who represented both the seller and the buyer in the transaction.

 “What made this offering so compelling was the property’s proximity to downtown, the beach and, the new City Project across the street.”

Contact: Angela Hwang, Regional Marketing Coordinator, 213 532 3258

angela.hwang@colliers.com

NAI Realvest Negotiates Sale of 12,897-Square-Foot Office/Warehouse Building and 2.8 Acres at Prime Intersection in Orlando

 ORLANDO, FL -- NAI Realvest recently negotiated the sale of the 12,897 square foot industrial facility located at 8120 and 8400 S. Orange Ave. at the corner of Sand Lake Rd. in Orlando.  

 Robert Blackwell (top right photo), SIOR principal at NAI Realvest and associate Sean DuPree (lower left photo), CCIM negotiated the transaction representing the seller, Redmond, Wash.-based Univar USA, Inc.  

PetroLiance Properties, LLC of Apex N.C. paid $875,000 for the property which includes 2,897 square feet of office space.  Clemens Commercial Real Estate represented the buyer.

For more information, contact:

Robert Blackwell, SIOR or Sean Dupree, CCIM at NAI Realvest 407-875-9989; rblackwell@realvest.com or   sdupree@realvest.com

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

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

RealtyTrac Hires Sales Veteran Brian Walby as Vice President of Sales & Strategic Alliances

  IRVINE, CA – RealtyTrac™ (www.realtytrac.com), the leading online marketplace for foreclosure properties, announced the hiring of Brian C. Walby (top right photo) as Vice President of Sales and Strategic Alliances.

 In this role, Walby will focus on member subscription sales, advertising sales, lead generation programs and product sales.

 “We are delighted that Brian has joined RealtyTrac,” said James J. Saccacio, (middle left photo), chief executive officer of RealtyTrac. “Brian brings leadership, sales management experience and the kind of industry expertise that will help us in refining, growing and expanding the RealtyTrac brand and product offerings for our customers.”

 Walby brings more than 15 years of sales experience to RealtyTrac. He has held senior management positions in sales and business development with a diverse group of companies, including Experian, LeadPoint and Local.com. Walby has successfully managed sales organizations in both the private and public sector, with sales revenue responsibilities in excess of $80 million.

 “I am excited to join the RealtyTrac family,” said Walby, who will develop and manage sales and business development plans for real estate professionals, customers and prospects. “I look forward to building new sales and business opportunities for RealtyTrac and finding new ways to strategically leverage our proprietary data and content.”

 A graduate of California Polytechnic State University in San Luis Obispo, Calif., Walby lives in Redondo Beach, Calif.

Contact: Heather Pond, AtomicPR, 735 Market Street 4th Floor, San Francisco, CA 94103  PH: 415. 593.1400 ext. 1677:  SF | LA | NYC | London, http://www.atomicpr.com/