HFF arranges $65 million refinancing for 5900 Wilshire in Los Angeles

LOS ANGELES, CA – HFF announced today that it has arranged a $65 million refinancing for 5900 Wilshire (top left photo), an  iconic 31-story, 452,764-square-foot office tower centrally located at the intersection of Los Angeles’ entertainment, cultural and business districts in the Miracle Mile.

HFF worked exclusively on behalf of a joint venture between Prudential Real Estate Investors and The Ratkovich Company to secure the five-year, 5.72 percent fixed-rate loan provided by AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors. 

The loan is replacing a maturing loan that HFF procured for the borrower when it purchased the property in 2005.

As one of Los Angeles’ preeminent business destinations, 5900 Wilshire, also known as the Variety Building, is home to some of the city’s most notable media and entertainment companies including Variety, Los Angeles Magazine, The New York Times’ Los Angeles bureau, 100.3 FM “The Sound”, Millennium Entertainment and more. 

Located across from the Los Angeles County Museum of Art in Los Angeles’ Miracle Mile district, 5900 Wilshire’s central location makes it an integral part of the city’s creative, entertainment and media communities. 

Designed by the legendary William Pereira in the late 1960s, 5900 Wilshire was acquired by The Ratkovich Company in partnership with Prudential Real Estate Investors in December 2005.

 In December 2008, venerable Hollywood trade paper Variety moved its West Coast headquarters and operations to 5900 Wilshire and took its place as the building’s marquee tenant; placing its recognizable name in red lighting atop the tower.

 Following a $34 million renovation in 2008, 5900 Wilshire is the new headquarters for all innovative, successful entertainment and media companies in the Miracle Mile.

5900 Wilshire is the recipient of both the Building Owners and Managers Association of Greater Los Angeles Office Building of the Year award and the 2009 Renovated Building of the Year from the Los Angeles Architectural Awards.  For more information, visit www.5900wilshire.net.

The HFF team representing the borrower was led by senior managing director Paul Brindley (middle right photo) and director John Crump (lower left photo).

  For more information, visit http://www.ratkovich.net/

.

Contact: 

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

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

krmurphy@hfflp.com

Grubb & Ellis Represents Ashley Capital in over 870,000 SF of New Leases at Brownstown Business Center in Southfield, MI

SOUTHFIELD, MI  (Mar.  28, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that it represented Ashley Capital in 872,478 square feet of new leases at Brownstown Business Center (top left photo) in the past 45 days. 

Dan Labes, senior vice president, Global Logistics, and Jim McClowry, senior vice president, Industrial Group, facilitated the transactions.

In the largest of the transactions, MTU Detroit Diesel, a designer and manufacturer of medium and heavy-duty diesel engines, leased 395,000 square feet of warehouse/distribution space at 19771 Brownstown Center Drive. 

Grubb & Ellis’ Tony Avendt, associate vice president, Industrial Group, represented MTU in the transaction.

 In addition, Cabot Street, a third-party logistics provider, leased 363,756 square feet of space at 20501 Pennsylvania Road, and Federated Group Services, a sales and marketing company serving the grocery, foodservice, drug and convenience store industries, leased 61,000 square feet of space at 19771 Brownstown Center Drive.

 Marketing and Industrial Solutions Corporation, a provider of supply chain and manufacturing solutions, leased 52,722 square feet of space at 19881 Brownstown Center Drive.

“Activity in the logistics sector is picking back up, led by Class A warehouse facilities like Brownstown Business Center,” said Labes.  “We’re pleased to have partnered with Ashley Capital in these transactions.

 Located in Brownstown Township, Brownstown Business Center features high-density storage capabilities with 32’ minimum clearance height and wide column spacing, as well as state-of-the-art features, including ESFR Sprinklers, high-capacity electrical service and energy-efficient halide lighting.

 The park offers ample truck parking and I-75 visibility and access.

 For leasing information, contact Labes at 248.357.6578.

Contact:  Erin Mays, Phone: 312.698.6735                                     

Email:  erin.mays@grubb-ellis.com

Marcus & Millichap Sells 41-unit apartment property in St. Petersburg, FL for $1.050 Million

ST. PETERSBURG, FL, Mar.  28, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Welk Arms (top left photo), a 41-unit apartment property located in St. Petersburg, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,050,000.

Michael P. Regan (middle right photo), an associate vice president investments, Francesco P. Carriera (middle left photo), a senior associate and Nicholas Meoli (lower right photo), a multifamily investment specialist all based in the Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution based in California. 

The buyer, a limited liability company, was secured and represented by Regan, Carriera and Meoli.

Welk Arms was built in 1971 and is located at 4701 68th Street North, a few miles northwest of downtown St. Petersburg.  The property is concrete block constructed and offers both one and two-bedroom floor plans.

This garden-style community consists of six single-story buildings on approximately 2.5 acres. 

“Despite the buildings’ challenges, we were still able to generate multiple offers and close within the time frames under the original contract,” says Carriera

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Equity Partners negotiates 14,500 SF in Orlando’s Alafaya Corporate Center

 ORLANDO – Michael Fess, (top right photo)  president of Equity Partners Inc., and Faith Thompson, Leasing Manager, represented the landlord, Alafaya Corporate Center, LC in a lease renewal and expansion with Environmental Tectonics Corporation for 8,831 square feet of office space and signed a long term lease for TRB Groves for 952 square feet of office space.

Equity Partners also negotiated a lease agreement with Wegmann, USA, Inc.  for 4,789 square feet of office space at Alafaya Corporate Center.

Michael Fess, President of Equity Partners Inc., and Faith Thompson, Leasing Manager, represented the Landlord, Alafaya Corporate Center, LC and Mary Frances West of NAI Realvest represented the Tenant.

Equity Partners negotiates over 6,000 square feet of Leases at University Science Center

ORLANDO, FL – Equity Partners negotiated a lease expansion with Katmai Government Services, LLC for 3,343 square feet of office space and negotiated a lease renewal expansion with Hostdime.com, Inc. for 2,858 square feet of office space at 12001 Science Drive in the University Science Center in East Orlando.

Michael Fess, president of Equity Partners Inc., and Faith Thompson (lower left photo), Leasing Manager, negotiated the transaction representing the landlord, University Science Center, Inc. 

 Contact:

 Faith Thompson, Leasing Manager, Equity Partners, Inc.,

Licensed Real Estate Broker, 20 North Orange Avenue, Suite 605, Orlando, Florida 32801; 407.660.4949 phone; 407.808.2656 cell;

407.660.4995 fax

www.equitypartners.net

EagleBridge Capital Arranges Mortgages For Connecticut and Rhode Island Retail Buildings

Boston, MA--EagleBridge Capital has arranged permanent mortgage financing totaling $2,090,000 for retail properties located in Connecticut and Rhode Island. 

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan (middle right  photo) and Ted M. Sidel  (bottom  left photo) who stated that the loan was provided by a regional financial institution.

In Windham, Connecticut, EagleBridge arranged permanent financing for the acquisition of a free standing 7000 square foot building net leased to Advance Auto Parts located at 320 Boston Post Road (Route 1).

Located nearby are Home Depot, Super Walmart, Ruby Tuesday’s, Wendy’s and numerous other retailers. 

Advance Auto Parts is a leading automotive aftermarket retailer of parts, accessories, batteries, and maintenance items which serves both the do-it-yourself and professional installer markets. The Company operated over 3500 stores in 39 states, Puerto Rico, and the Virgin Islands.

In North Kingstown, Rhode Island, EagleBridge arranged mortgage financing for the 4850 square foot AT&T Plaza located at 6070 Post Road (Route 6).

 The building is leased to AT & T Wireless and Great Harvest Bread Company (top left photo).  A number of other stores and restaurants are located in the immediate area including TJ Maxx, HomeGoods, McDonalds, and CVS.

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to structure and deliver two separate mortgages for our borrower which met all of his financing requirements for each property.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, condominiums, apartments, office, industrial, r & d buildings, hotels and mixed use properties as well as special purpose buildings.

Contact:  Ted Sidel, (617) 292—7177, Extension 10

33 Broad Street, Boston, MA 02109    TEL: 617.292.7177   FAX: 617.292.7575

http://www.eaglebridgecapital.com/

Grubb & Ellis Represents Joint Venture of Alliance Commercial Partners and CarVal Investors in $23.1 Million Receivership Purchase

  

 NEWPORT BEACH, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that Scott Read, senior vice president, Industrial Group, represented a joint venture between Alliance Commercial Partners and CarVal Investors LLC in the purchase of 2001 E. Dyer Road, a 366,000-square-foot industrial building in Santa Ana.

 The property was acquired out of receivership from Taylor B. Grant of California Real Estate Receiverships, the receiver of the asset, for $23.1 million. 

 “This transaction represented an excellent opportunity for Alliance/CarVal to acquire a large industrial property at a significant price reduction,” said Read. 

“Available industrial properties of this size are hard to come by in Orange County and following the completion of the renovations/enhancements to the building that Alliance has already commenced, the property is expected to draw in significant interest from local and regional industrial companies.”

The buyer has selected Grubb & Ellis to immediately market the property for lease and sale.  On a lease basis, the building can accommodate a single large corporate tenant or be divided for smaller tenants down to 100,000 square feet of space. 

 The distribution/manufacturing building offers 31 dock-high loading doors and 11 drive-in doors, large, secured loading/yard areas, ample parking, and the potential for heavy power.  The building also includes approximately 50,000 square feet of existing two-story corporate office space.  The property is located across the street from the planned Tustin Legacy Re-Development project and offers easy access to State Route 55 and Interstates 405 and 5.

 “This acquisition was in line with our investment strategy to acquire distressed assets at prices significantly below replacement cost,” said Bob O’Neill, director of Acquisitions for Alliance Commercial Partners’ Irvine office. 

 Bill Welch of California Real Estate Receiverships marketed the property on behalf of Grant. 

Contact:  Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

         

Grubb & Ellis Promotes Matt Devine and Jeffrey Tertel to Vice President in Philadelphia

 PHILADELPHIA, PA) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced the promotions of Matt Devine (top right photo)  and Jeffrey Tertel (bottom  left photo) to vice president, Office Group.  The promotions recognize their levels of production and contributions to the company.

“Matt and Jeff have excelled despite very challenging economic times, and I credit their focus on client service and their ability to build strong relationships for their successes,” said Bob Clements, executive vice president and market leader for Grubb & Ellis’ Philadelphia tri-state area.  “I couldn’t be more pleased to recognize them for their achievements.”

 Devine, who began his commercial real estate career with Grubb & Ellis in 2004, provides landlord and tenant representation in the Bucks County and eastern Montgomery County office submarkets.

During his tenure, he has been directly involved in more than 200 transactions totaling in excess of $175 million. 

Tertel joined Grubb & Ellis in 2000 and currently provides tenant representation services to companies with office requirements throughout the Philadelphia Tri-State area. 

  Contact:  Erin Mays, Phone 312.698.6735                              

Email:  erin.mays@grubb-ellis.com

Crossman & Company Tapped for Five Major Awards at NAIOP Orlando Chapter

 ORLANDO, FL--- The Central Florida Chapter of the Commercial Real Estate Development Association –NAIOP – presented Orlando based Crossman & Company with five major awards recently.

John Crossman, president of the commercial real estate company that ranks as one of the largest third-party retail leasing and management firms in the Southeast, said Crossman & Company Vice President & Director of Leasing Justin Greider (top right photo) was named Retail Broker of the Year.

 Greider negotiated retail property leasing and sales transactions that totaled more than 599,000 square feet of space in 2010.

 Crossman & Company associate Molly Delahunty (middle left photo) was named Student of the Year. Delahunty joined Crossman & Company in 2009.  Delahunty is a student in the University of Central Florida’s inaugural class of their Professional Masters of Science in Real Estate and will graduate December 2011.

Crossman & Company associate Whitaker Leonhardt (lower right photo) was named Rookie of the Year.  He joined Crossman & Company in 2009.  Last year, Leonhardt negotiated leases with the Disney Entrepreneur Center and Planet Fitness at the Orlando Fashion Square Mall, said Crossman.

 Two Crossman & Company properties were also cited with awards.

Aloma Shopping Center, the Publix-anchored shopping center which completed a major redevelopment last year, was named Retail Development of the Year.

 Orlando Fashion Square Mall, Orlando’s oldest shopping center with 1.1 million square feet of retail space, was named Re-Use Property of the Year.   The Disney Entrepreneur Center and Planet Fitness both signed leases at Orlando Fashion Square last year.  Planet Fitness is now open and Disney Entrepreneur Center will open in April.

For more information, contact:  

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

  

Akerman Senterfitt Plays Pivotal Role as Circuit Court Rules for Homebuilders on Chinese Drywall Issue

  

MIAMI, FL-- /PRNewswire/ -- Akerman Senterfitt  announced that a Palm Beach County, Florida Circuit Court Judge has ruled that builders and installers cannot be held liable for negligence for faulty drywall (commonly referred to as "Chinese drywall") installed during home construction if they did not have actual or implied notice of a defect in the drywall at the time of construction. 

Judge Glenn Kelley (top right photo) of the 15th Judicial Circuit issued the Omnibus Order which is applicable to all lawsuits in Palm Beach County, Florida.  It is one of a number of wins the Akerman team has secured for several homebuilders it has represented on this issue in both state and federal courts.

"Judge Kelley's ruling is an important victory for the homebuilding industry, as it adds clarity and requires that builders and their subcontractors have knowledge of potential drywall defects at the time of construction," said Stacy Bercun Bohm (middle left photo) a shareholder with Akerman's Construction practice. 

In various lawsuits around the country, builders and their installer subcontractors have been accused of being "negligent" with respect to Chinese-manufactured drywall.

  Specifically, these businesses have been charged with having failed to "inspect" or "test" the foreign sourced drywall before installation, and have been faulted with having failed to "warn" homeowners of the problems associated with some Chinese-manufactured drywall.

 Implicit in these allegations is the expectation that these businesses should have been prescient enough to know, in early 2005-06 (in some cases, well before this), of problems associated with Chinese drywall. 

"We are hopeful that this decision will be adopted by other judicial circuits as well as in the multi-district litigation currently pending in a federal court in Louisiana," said Leslie Tomczak (middle right photo)  a construction litigation and real estate shareholder with Akerman.

Ms. Tomczak led the Akerman team that argued the issues before the Court. The team included shareholders Stacy Bercun Bohm, Valerie Greenberg, Sam Heywood, Samantha Kavanaugh and Hugh Turner, as well as associates Carmen Tugender, Michael Sayre, Lauren Fernandez, Stacy Harrison and Alan Fry in Akerman's Fort Lauderdale and Miami offices.

Judge Kelley entered the Omnibus Order regarding this matter on March 18, 2011.

More information can be found at www.akerman.com or www.twitter.com/akerman_llp

.

Contact:

Pat Tucker, RF|Binder Partners, Inc., (212) 994-7561 

Patrick.Tucker@rfbinder.com

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

Fitch U.S. CMBS Newsletter: Mood Among Market Players Mixed

 

NEW YORK, NY--The  mood  among  U.S.  CMBS lenders and third-party loan sellers is fairly optimistic,  while servicers and traditional b-piece buyers are maintaining a  more  guarded view of the sector's health, according to Fitch Ratings in its  roundup  of  last  week's  Distressed Debt Summit. The full roundup is featured in this week’s U.S. CMBS newsletter.

Most agreed that commercial real estate values are on the upswing. However, the  improvements  are  being  driven  more by compressed cap rates than by

increasing  cash flow.  Additionally, servicers are increasingly turning to

loan modifications with increased success.

In contrast, much of the market pessimism centers on the amount of loans in

special  servicing. While new transfers into special servicing have slowed,

the  inventory  of  assets  to  work  through is large. Approximately $89.7

billion  of  loans  are  in  special  servicing  as  year end-2010 (YE’10),

compared to $73.9 billion at YE’09.

New  issuance is seen as a positive sign to help temper the volume of loans

entering  special  servicing.  However,  the  burgeoning  trend  is also of

concern  among  investors  who  are wary of competitive pressures weakening

underwriting standards.

Additional  information  is available in Fitch's weekly e-newsletter, 'U.S.

CMBS  Market  Trends',  which  also  contains  recent rating actions and an

overview  of  newly  released  CMBS  research, including Fitch presales and

Focus  reports.  The  link  below enables market participants to sign up to

receive future issues of the E-newsletter:

'http://www.magnetmail.net/forms/display_form.cfm?fid=22908&mid=929091&rid=297925736&rtype=mm&uid=Fitch'

Contact:

Mary MacNeill

Managing Director

+1-212-908-0785

Fitch Inc., 1 State Street Plaza, New York, NY 10004

Lindsay Weichert

Director

+1-212-908-0398

Media   Relations:   Sandro   Scenga,   New  York,  Tel:  +1  212-908-0278:

sandro.scenga@fitchratings.com.

Additional information is available at http://www.fitchratings.com/

Bank To Repo 21 Condos, 163 Rentals In Greater Downtown Miami

MIAMI, FL---A developer in Greater Downtown Miami is days away from losing 21 unsold new condo units and a combined 163-rental apartments located on Biscayne Bay to a lender following a foreclosure auction, according to a new report from CondoVultures.com. 

The lender, an entity ultimately controlled by Mellon United National Bank's acquirer Sabadell United Bank, won a foreclosure auction on March 16. This was the last step in taking ownership of the Platinum condo (above centered photo) units on Northeast 30th Street and nearly 87,400 square feet of rental space in a series of 1950s and 1960s buildings fronting Biscayne Bay, according to an analysis of Miami-Dade County records.

Completed in 2006, the Platinum condominium tower is a 119-unit project where 98 units have been sold at an average price of $340 per square foot, according to the Condo Vultures® Official Condo Buyers Guide To Miami™. 

"The irony is, this developer held a public auction to dispose of the condos back in 2007 but ultimately decided not to sell the units to the highest bidders," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "In the end, the lender is days away from taking control of an attractive block of units and more than 115,000 square feet of developable land on Biscayne Bay. It is clear from the location that the future use of the land is new development when the market warrants it."

The foreclosure auction was the last step following a "final judgment of foreclosure" in the amount of nearly $24 million - the entire real estate portfolio has an assessed property value of a combined $11.97 million - signed by Miami-Dade Circuit Court Judge Lester Langer, according to court records.

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

Santa Clarita, CA Water Division Takes Occupancy of New 12,971-SF Headquarters at Summit Pointe Office Park

  

SANTA CLARITA, CA— Santa Clarita Water Division (SCWD) has moved into its new 12,971-square-foot headquarters located within Summit Pointe Office Park (top left photo)  at 26521 Summit Circle in Santa Clarita, Calif.. 

SCWD acquired the property in the third quarter of 2010 and was represented by Dennis Verner at SCV Commercial in the acquisition.

Summit Pointe Office Park is a six building, 31,536-square-foot, Class A office condominium property located within the 240 acre Centre Pointe Business Park.

 With convenient access to the I-5 and US 14 Freeways, the property is ideal for professional services firms seeking quality, free-standing space in a state enterprise zone with favorable tax credits.

Jones Lang LaSalle’s Managing Director Nigel Stout and Vice President Ryan House are marketing the units for sale or lease on behalf of the landlord, CMD Real Estate.  The JLL team represented the landlord in the sale to SCWD.  Currently there are only four units remaining ranging from 2,000 square feet to 5,026 square feet.

“We are seeing a great deal of interest from prospective tenants and owners who understand the value of being located in premium space,” said House.  “Summit Pointe is one of the region’s premier office properties featuring abundant amenities and pristine views of the valley.”

 For further information, please visit our website, http://www.joneslanglasalle.com/

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351

(c) 949.278.7851, david@ebelingcomm.com

.

Marcus & Millichap Sells 131-Room Hotel in Tucson, AZ for $1 Million

  

 TUCSON, AZ,  Mar. 23, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Executive Inn & Suites (top left photo), a 131-room hotel located in Tucson, Ariz., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,000,000.

Jonathan S. Ruprai, a hospitality investment specialist in Marcus & Millichap’s Tampa office, along with Aseem Tandon, a hospitality investment specialist in the firm’s Ontario office, had the exclusive listing to market the property on behalf of the seller, a financial institution. 

The buyer was secured and represented by Ruprai and Tandon.  David Guido, broker, assisted in closing this transaction.

Executive Inn & Suites is an interior corridor, full service hotel, built in 1960 and located at 333 West Drachman Street.

Press Contact:  Bryn D. Merrey, Regional Manager, Tampa

(813) 387-4700

D & A Building Services Wins New Contract with ITT Tech in Lake Mary, FL

LONGWOOD, FL— D & A Building Services Inc. has secured a long-term contract with ITT Technical Institute for facility maintenance services at the private college’s Lake Mary, Fla., campus.

Under its scope of services, D & A is providing full-service janitorial, window cleaning and floor refinishing services for the one-story, 32,000-square-foot building on 1400 International Parkway, Lake Mary, Fla.

                      

For additional information, please visit http://www.dabuildingservices.com/

PR Contact: Elaine Ingra, (407) 384-1344 elainei@pr-works.com

C&W announces sale of World Quest Resort Near Disney in Orlando

Orlando, FL – Cushman & Wakefield of Florida, Inc. announces the sale of WorldQuest Resort (top left photo), consisting of 96 unsold units plus 9.29 developable acres, pool, and amenity center.

The property was owned by REDUS Florida Condos, which was represented by Cushman & Wakefield Senior Director of Land Brokerage, Margery Johnson, CCIM, CIPS.

Buyer WQ Hotel Management, LLC paid $12,000,000 in the transaction, which closed on March 10.  The property is located within the World Gateway DRI, near the entrance to Walt Disney World.

"We are pleased with this sale, which is an indication of the improving prospects for Orlando tourism," said Johnson.

Contact:  Brook Hines,  Tel: 407-541-4401, brook.hines@cushwake.com

Berger Commercial Realty Corp. Announces Several New Leases

  

FORT LAUDERDALE, FL– Commercial real estate brokers Judy Dolan (top right photo) and Joe Jarkesy (lower left 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 several new lease transactions.

 Dolan and Jarkesy represented landlord  4811 Lyons Tech Pkwy, LLC in the renewal of a lease for 1,562 square feet of space in a multi-tenant small bay warehouse, located at  4911 Lyons Technology Parkway in Coconut Creek, Fla., to tenant Butters Construction.

The pair also represented 4811 Lyons Tech Pkwy, LLC in the renewal of a lease to tenant Franz, Inc., doing business as Handyman Connection, for 1,562 square feet of space in the same building.

Dolan and Jarksey also represented landlord Merrill Industrial Center, Inc. in the lease of 4,071 square feet of space in a multi-tenant warehouse, located at 3406 SW 26th Terrace in Dania, Fla., near Fort Lauderdale's Marina Mile, to tenant KW Management, LLC.

 Contact: 

Marielle Sologuren, Phone: (954) 776-1999, ext. 226

Fax: (954) 776-0290, msologuren@piersongrant.com

http://piersongrant.com/

HighImpactDigital.com

Jones Lang LaSalle Awarded Leasing of The Koll Office Building in Newport Beach, CA

 NEWPORT BEACH, CA – Jones Lang LaSalle has been awarded the leasing for Newport Beach Financial Plaza, a 54,000-square-foot Class A office building located at 4343 Von Karman Avenue in Newport Beach.

Leading the leasing efforts for the premier property are Jones Lang LaSalle Senior Vice Presidents Jay Nugent and Thomas Murphy.

“Jones Lang LaSalle was selected for this assignment because of our deep understanding and appreciation for the historical significance this building has played in the Orange County business community,” said Nugent.  “We intend on reminding the entire market that Newport Beach Financial Plaza is an Orange County landmark located in one of Southern California’s premier business destinations.

Jones Lang LaSalle was hired by the landlord, Picoco, LLC, which acquired the three-story building in 2008.

Newport Beach Financial Plaza is ideally located just minutes from the I-405 Freeway and 73 Toll Road as well as the John Wayne Orange County Airport. 

The property is adjacent to the Pacific Club, Orange County’s premier professional and business gathering venue. Newport Beach Financial Plaza can currently accommodate a single tenant on the second floor totalling 17,692 RSF. 

Other tenants in the building include The Koll Company who occupies the first floor and Picoco who occupies the third floor.

For further information, please visit our website, http://www.joneslanglasalle.com/

.

Contact:  David Ebeling, Ebeling Communications, (p) 949.861.8351

(c) 949.278.7851, david@ebelingcomm.com

Colliers International Recruits Christopher Maling and David Maling to its Downtown Los Angeles Office

 

LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, has recruited top senior brokers, Christopher Maling (top right photo) and David Maling (middle left photo), aka The Maling Brothers, in Downtown Los Angeles. They both specialize in investment sales.

 “Chris and David bring more than 35 combined years of experience in commercial real estate,” said Martin Pupil (lower right photo), regional managing director for Colliers’ Greater Los Angeles operations. “They will be a great asset to our growing full-service platform.” 

Chris Maling will serve as senior vice president. He has successfully listed and sold apartment buildings, retail shopping centers, office buildings and industrial office warehouse properties throughout Greater Los Angeles.

 Additionally, he has extensive experience with 1031 tax-deferred exchanges, foreclosures and Chapter 7 and Chapter 11 bankruptcies. Previously, he was with Marcus & Millichap in Los Angeles where he won their sales recognition awards virtually every year since 1993.

 David Maling will also serve as senior vice president. He specializes in asset management, leasing activity management and disposition and acquisition of investment real estate.

Prior to joining Colliers, he was with Marcus & Millichap where he was awarded the Marcus & Millichap’s “Rookie of the Year” award in his first year of joining its Los Angeles office.

He was also ranked as one of the top 20 agents in the Marcus & Millichap’s Los Angeles office since 1998.  David Maling is a court-appointed receiver, Certified Property Manager (CPM), and Accredited Residential Manager (ARM). 

 Both Chris and David Maling were Marcus & Millichap’s Top 20 Producers nationally in multi & single tenant retail and recipients of Marcus & Millichap’s Top Closing Agent in 2010 with 65 transactions. In total, they have closed more than $1 billion in sales during their combined commercial real estate career.

“The Maling brothers bring incredible added depth to the downtown Los Angeles Office.  Both our retail and office investment capabilities will be significantly enhanced,” said Hans Mumper (lower left photo), managing director for Colliers International’s Downtown Los Angeles office.

Follow us at www.twitter.com/colliersgla

 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