D & A Building Services Signs New Contract with OUC in Central Florida

 LONGWOOD, FL, Nov. 29, 2010 — Facility maintenance company, D & A Building Services Inc. has secured a new contract with Orlando Utilities Commission (OUC) for janitorial services for eight water stations throughout Central Florida.

 In addition to its new contract, D & A is under contract with OUC for  janitorial services at Reliable Plaza (top left photo) and parking garage as well as the Pershing complex, St. Cloud complex, Camp Down, Camp Apollo, and 53 substations located throughout the Utility’s service area.

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

Jeffrey Chalfin Joins Grubb & Ellis as Vice President, Investment Services

PHOENIX, AZ (Nov. 29, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Jeffrey Chalfin (top right photo) has joined the company as vice president, Investment Services.

“Jeff is well-regarded in the Phoenix metro area as one of the top retail investment brokers,” said Pete Bolton, (top left photo)  executive vice president and managing director of Grubb & Ellis’ Phoenix office.

 “As we build our retail investment team, we look to attract dedicated, committed individuals with a deep-understanding of the market.  Jeff fits that bill perfectly and we are happy to have him on our team.”

Chalfin primarily specializes in the sale of multi-tenant retail assets and joins Grubb & Ellis from Sperry Van Ness where he began his career in 1998 and ultimately rose to the position of vice president.

Contact: Julia McCartney, Phone:714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

Jonathan M. Wolfe and Jordan A. Shtulman Join Grubb & Ellis

CHICAGO, IL (Nov. 29, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Jonathan M. Wolfe (middle  right  photo) and Jordan A. Shtulman (middle left photo), two leading experts in sale leasebacks and net-leased investment properties, have joined the company as senior vice presidents, Investment Group, effective immediately. 

Based in Grubb & Ellis’ Chicago office, Wolfe and Shtulman will establish a national sale leaseback and net-leased properties practice primarily focused on the mid-cap sector.  The two have completed transactions in excess of $1.5 billion combined since 2002.

“Jonathan and Jordan add a new dimension to our capabilities,” said Shawn P. Mobley (lower right photo), president, Brokerage Services.  “Bringing them on board puts us in a great position to better serve our existing clients, as well as to serve new ones in the high growth mid-market sector.”

Wolfe, 33, joins Grubb & Ellis from CB Richard Ellis, where he was a partner in one of the top-producing investment teams in the country. 

Shtulman, 33, has completed transactions on behalf of clients including General Electric, Home Depot and various trusts and equity funds.  He joins Grubb & Ellis from Baum Realty Group, where he was senior vice president and leader of the investment sales practice for three years. 

Contact: Erin Mays, Phone: 312.698.6735, erin.mays@grubb-ellis.com                

Grubb & Ellis|Commercial Florida Appoints Wanda DeBoer Senior Associate, Vice President Retail Services

TAMPA, FL --- Grubb & Ellis|Commercial Florida in Tampa has appointed Wanda DeBoer (top right photo) vice president of retail services and a senior associate in the firm.

Patrick Kelly (lower left photo), executive vice president and managing director of the Tampa Bay office of Grubb & Ellis|Commercial Florida, said DeBoer has more than 25 years of experience in commercial real estate.

 DeBoer earned her Bachelor of Arts Degree in Communications and Marketing from Florida State University.

“Wanda DeBoer owned her own commercial real estate firm for more than 20 years specializing in tenant representation and retail property sales, ground leasing and leasing of multi tenant and net leased properties,” Kelly said.

DeBoer formed a development firm that transformed an industrial site into the first mixed-use office/retail development in Oldsmar.

“Wanda DeBoer has extensive experience in shopping center re-development and renovation in addition to ground-up development and has worked with local, regional and national retailers, banks and restaurateurs throughout the Tampa Bay area,” Kelly said.

“We are delighted she has joined Grubb & Ellis|Commercial Florida and we expect she will play a major role in our growth over the next few years,” he said.

DeBoer is a licensed Florida real estate broker and a licensed Florida mortgage broker. She is active in the ICSC Economic Development & Government Affairs Committee, the Upper Pinellas Regional Chamber of Commerce, Florida Hotel & Restaurant  Association, FGCAR and the E-Women Network.

Contacts:

Patrick Kelly, Mng. Director, 813-830-7539

Jeffrey Sweeney, SIOR  President 407-481-5387

Larry Vershel Communications 407-644-4142

http://www.commercialfl.com/

NAI Realvest to Rev Up Sales of Distressed Commercial Properties with 2011 Sealed Bid Powersale Starting March 24

MAITLAND, Fla. --- NAI Realvest, which ranks as one of the region’s largest commercial real estate companies, plans to accelerate sales of distressed commercial properties by participating in the NAI Global 2011 Sealed Bid PowerSaleTM starting March 24, 2011.

Patrick Mahoney (top right photo), president and chief operating officer at NAI Realvest, said the 2011 Sealed Bid PowerSale is a massive sales effort that includes commercial properties and buyers from NAI Global offices in all 50 states and international investors.

NRC Realty & Capital Advisors, LLC, is conducting the sale in partnership with NAI, Mahoney said.

Mahoney said properties can be registered in the 2011 Sealed Bid PowerSale on an absolute or reserved price basis.

The first 2011 Sealed Bid PowerSale will be held on March 24, 2011, but properties must be registered prior to Dec. 30, 2010.

“The 2011 Sealed Bid PowerSale represents a major opportunity for lenders and representatives of distressed properties as well as REITs, investors, corporations and governments,” Mahoney said.

For more information, contact

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

 George Livingston, Chairman, NAI Realvest, 407-875-9989 glivingston@realvest.com;

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

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

Class A office development in Woodbridge, NJ receives $20.4 million in construction financing arranged by HFF

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $20.4 million construction loan for Centra at Metropark (top left rendering), a to-be-built, 105,000-square-foot Class A office building in Woodbridge, New Jersey.

HFF senior managing director Jon Mikula (middle right photo) and director Michael Klein (lower left photo) worked exclusively on behalf of The Hampshire Companies to secure the three-year construction loan through US Bank.

 Due for completion in mid-2011, the four-story LEED certified property will feature a café, fitness center, conference center and common area lounge. 

The building was designed by the renowned architectural firm Kohn Pederson Fox.  Centra at Metropark is the first phase of a four-phase development that upon build-out will include four Class A office buildings plus two parking garages. 

The property is located at 186 Wood Avenue, across the street from the Woodbridge Hilton within the MetroPark office complex close to the Garden State Parkway in Woodbridge. 

“Centra at Metropark has an excellent location close to numerous highways and is situated in one of only three markets in New Jersey that offers mass transportation within walking distance,” said Mikula.

The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2 billion, based in Morristown, New Jersey.

The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments

Contacts:                    

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com

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

krmurphy@hfflp.com

http://www.hampshireco.com/

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Eight-property Walgreens portfolio in Louisiana receives $27.16 million in financing arranged by HFF

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $27.16 million in financing for a portfolio of eight Walgreens drugstores in Louisiana.

Working on behalf of Stirling Properties, Inc., HFF managing director Kevin MacKenzie (middle right photo) placed the 4.92% fixed-rate securitized loan with Goldman Sachs Commercial Mortgage Capital, LP.  Loan proceeds will be used to retire the existing construction loans on the properties.

Completed between 2007 and 2010, the Walgreens properties total 116,070 square feet; an average of 14,509 square feet per store.  The properties are located in Lafayette, Denham, Ruston, Abita, Dutchtown, Gonzales, Broussard and Meraux.

“There was significant interest in this transaction due to the credit quality of the tenant, and the strength of the sponsorship.  While there were a wide variety of options for the financing, ultimately Goldman provided competitive terms and ran an extremely smooth closing process,” said MacKenzie.

Founded in 1975, Stirling Properties has more than 35 years of real estate experience in the Gulf South region. 

Headquartered in Covington, Louisiana, the firm employs more than 350 people in 16 offices throughout Louisiana and Mississippi in its acquisitions, asset management, commercial brokerage, development/redevelopment, property and facility management and residential brokerage operations.

Contacts:                          

Kevin C. Mackenzie, HFF Managing Director,  (214) 265-0880,  kmackenzie@hfflp.com

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

krmurphy@hfflp.com

Stirling Sotheby’s International Realty Forms Alliance with CLEAR Secure Identification Program

ORLANDO, FL --- Stirling Sotheby’s International Realty has formed an alliance with CLEAR (www.clearme.com), the secure identification program that helps card-holding members bypass airline security waits at Orlando International Airport.

 Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Stirling Sotheby’s World Marketing Center at 121 S. Orange Ave. in downtown Orlando and Stirling Sotheby’s Lake Mary/Heathrow office at 115 International Parkway will serve as CLEAR membership enrollment centers Monday through Friday from 9 a.m. to 5 p.m.

 “CLEAR is the only biometric-based secure ID program for airport security.  Orlando is the first market for CLEAR re-launch and Denver International Airport is next with many airports to follow,” Soderstrom said.

“Many of out clients are frequent airline travelers who will find this service very convenient,” Soderstrom explained.

 For more information about this press release,  contact:

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

Gareth Edmondson-Jones, CLEAR 212 223-5030 HYPERLINK mailto:gareth@clearme.com;

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

Grubb & Ellis|Commercial Florida negotiates new long-term lease agreement with engineering firm at Wittner Centre in St. Petersburg, FL

Contacts:

http://www.commercialfl.com/
Paula Buffa, CCIM, RPA 813-830-7887
Patrick Kelly, Mng. Director 813-830-7539
Larry Vershel Communications 407-644-4142

Two Brokers at NAIRealvest Orlando Awarded Prestigious CCIM Designation

MAITLAND, FL -- Two broker associates at NAI Realvest were awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute, one of the nation’s leading commercial real estate associations.

Patrick Mahoney (top right photo), president and chief executive officer at NAI Realvest, said Drew Saphos (middle left photo) and Jim Murr (lower right photo)  earned the prestigious designation by passing the Institute’s Comprehensive Examination, the final element in the designation process.

Saphos has been with NAI Realvest six years and has eight years of experience in commercial real estate.  He specializes in office, industrial and buyer/tenant representation.

Murr, who joined NAI Realvest in 2007, has more than four years of and specializes in investment, industrial and buyer/tenant representation. 

The CCIM designation is awarded to real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying industry experience. 

The curriculum addresses: financial analysis, market analysis, user decision analysis and investment analysis – the cornerstones of commercial investment real estate.  CCIMs are recognized experts in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis. 

For more information, contact:

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com;
Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

  

St. Petersburg Consultant Focuses Management Techniques Honed at Motorola, Toyota

ST. PETERSBURG, Fla. --- Sophisticated management techniques perfected at Google, Toyota, Ford and Motorola are helping Florida real estate developers cut costs, improve their delivery schedule and develop higher quality facilities for corporate and retail clients.

Rachel Elias Wein AIA (top right photo), who heads WeinPlus Real Estate Advisory Services in St. Petersburg, said she focuses techniques that power the world’s most successful corporations on real estate development processes with overwhelming results: a return on investment (ROI) that is more than 10 times its initial cost.

“Development is a very complex process and most developers are goal-oriented, not process-oriented,” Wein explained. “The application of some best practices developed by corporations such as Toyota and Motorola can result in dramatic cost reductions and tremendous efficiencies,” she said.

Wein is currently implementing a custom management program for one major Florida developer that adapts Lean Methodology techniques perfected by Toyota.

“Lean Methodology is a process that targets all expenditures and establishes whether or not they are essential to the company’s goal,” Wein explained.

“Elements which do not directly add value to the process are deemed waste and targeted for minimization or elimination,” she said.

Concurrently, Wein is implementing the Theory of Constraints developed by Israeli physicist Eliyahu Goldratt, now widely hailed as a corporate management guru.

“The Theory of Constraints focuses on improving business processes by targeting constraints---bottlenecks---and improving their capacity to produce,” Wein said.

Wein, a former development manager with the Sembler Company in St. Petersburg and senior associate with Ernst & Young’s Construction and Real Estate Advisory Services in Philadelphia, earned Bachelor of Design, Master of Architecture, and Master of Science in Real Estate Degrees from the University of Florida.

Wein estimates she has saved client companies---Forge Capital Partners in Tampa, Pinellas County Schools and The Sembler Company to name a few---more than $3 million over the past 18 months with a variety of solutions that range from construction cost control and dispute resolution to process improvement.

For more information, contact

Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-403-1595, http://www.weinplusassociates.com/;

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

Stirling Sotheby’s International Realty, Canin Associates unveil 2015 New Home Series at Bella Collina in Lake County, FL

ORLANDO - Stirling Sotheby's International Realty and Canin Associates, the Orlando based architectural design and land planning firm, recently unveiled plans for the 2015 New Home Series of smaller, smarter luxury homes at Bella Collina, (top left photo) the unique Lake County luxury development that overlooks Lake Apopka near Montverde.

Roger Soderstrom, founder and owner of Stirling Sotheby's International Realty, said the one and two story 2015 New Home Series of designs complement the Italianesque architectural theme at Bella Collina on 40 and 50 foot home sites.

The 2015 New Homes Series focuses on stone façades, rotunda foyers and two and three car garages.  Three new floor plans range in size from 2,196 square feet of air-conditioned living space of 3,400 square feet with generous outdoor living spaces, including balconies, lanais and private swimming pools.

“The 2015 New Homes Series of floor plans we have developed are designed for today’s consumer-centric lifestyles,” Soderstrom said.

“We’ve incorporated the most compelling trends in new home design, including outdoor living amenities, superb kitchens and an economy of space that emphasizes luxury detail and features, convenience, utility, economy and lifestyle over opulence,” he said.

“Continental Homes & Interiors, one of Bella Collina’s featured custom builders is the first to offer such forward thinking home plans,” Soderstrom said, “and the 2015 New Home Series will serve as a benchmark for new luxury homes in Central Florida,” he added.

The 2015 New Home Series designs are the result of the marketing alliance of Stirling Sotheby’s International Realty and Canin Associates. 

The Stirling Sotheby’s International Realty onsite Welcome and Marketing Center, staffed with six luxury home sales specialists, is open seven days a week at Bella Collina.

For more information, contact:  

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

Tony Weremeichik, Principal Canin and Associates, 407-422-4040 x209 tweremeichik@canin.com;  

Bill Cook, Continental Homes and Interiors, 407-644-5129, bill@continentalhomesandinteriors.com;

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

Grubb & Ellis|Commercial Florida negotiates new lease agreement for more than 9,000 SF at Meridian Gateway Center

TAMPA, FL. – Grubb & Ellis|Commercial Florida, associated with 130 offices worldwide, completed a new lease agreement for 9,039 square feet of class A flex warehouse space at 3380 Scherer Drive, Suite A in Meridian Gateway Center located off I-275 and Roosevelt Blvd. in St. Petersburg’s Gateway submarket.

 James Moler (middle left  photo) , CCIM, Paula Buffa (top right photo), CCIM, RPA senior vice presidents, and associate Maria Camarinos Hall (lower right photo) at Grubb & Ellis|Commercial Florida negotiated the transaction representing the landlord Carlyle/Meridian Pinellas, L.P. based in Washington, D.C.

The new tenant, Sizewise Rentals, LLC of Kansas City, Mo., leased the space for five years. 

Sizewise Rentals is engaged in rental, sale or lease-to-own programs for medical and hospital equipment it manufactures.   Industrial Realty Solutions, Inc. represented the tenant.

                                                                                                              Contacts:

Paula Buffa, CCIM, RPA 813-830-7887

Patrick Kelly, Mng. Director 813-830-7539

Larry Vershel Communications 407-644-4142

                                                                                           

www.commercialfl.com

Avalon Park Group Completes CDD Bond Exchange on 1,800-Acre Master-Planned Community in Pasco County

 WESLEY CHAPEL, FL -- Avalon Park Group completed an exchange of CDD Bonds on the company’s New River development on S.R. 54 in Wesley Chapel. The unique deal took over two years to consummate and will revitalize the project in a quickly growing portion of Pasco County.

 Eric Marks (top right photo), senior vice president at Avalon Park Group, said the deal reflects both Avalon Park Group’s and the bondholders’ commitment to this project and excitement about the great opportunities that exist in Pasco County.

The developer is already in talks with local and national homebuilders and lot sales are expected to begin in the first quarter of 2011.

  Development of 365 lots and an amenity center is completed and plans to construct a town center containing over 700,000 square feet of retail, civic and commercial space are underway.

 At completion the project will include over 4,800 residential units featuring a mix of single and multi-family housing, along with the town center. The plan consists of over 1,800 acres with 600 acres of natural preservation, walking and biking paths and man made lakes, Marks said.

 For more information about this press release, contact

Eric Marks, Senior Vice President, Avalon Park Group, ericm@avalonparkgroup.com, 407-658-6565;

Rich Browning, Vice President, Avalon Park Group, richb@avalonparkgroup.com

 407-658-6565;

Stephanie Hodson, Marketing Director, Stephanie@avalonparkgroup.com

407-658-6565, ext 116;

Larry Vershel Communications Inc. (Larry or Beth) Lvershelco@aol.com

 407-644-4142.

Marcus & Millichap Reports Investor Confidence in Commercial Real Estate Jumps Markedly

 ENCINO, CA – Increasing confidence in commercial real estate is starting to lure investors off the sidelines and back onto the playing field, according to the Third-Quarter 2010 Real Estate Investment Outlook recently released by National Real Estate Investor (NREI) magazine, and Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm. 

 Since 2004, NREI and Marcus & Millichap have been tracking investor confidence using the Investor Sentiment Index.

 After peaking at 148 in 2005, the index began declining sharply, correctly forecasting the record drop in commercial real estate sales velocity and property performance.

 In 2009, the index bottomed at 91 and has staged a steady improvement to a current reading of 119.

 “Although the index shows that sentiment is still well off peak, the positive trend over the past year confirms that we reached bottom in 2009 and that investor confidence is returning,” says Hessam Nadji, (top right photo) managing director, research and advisory services at Marcus & Millichap.

For a complete copy of the report, please contact:

Stacey Corso, public relations manager, (925) 953-1716

Note Sale For Last Of Unsold Developer Condos In Hollywood, FL

 MIAMI, FL--A private equity group has paid more than $300 per square foot for a construction loan secured by the last of the unsold developer units in South Florida´s Hollywood / Hallandale Beach market, according to a new report from CondoVultures.com.

The note buyer, BH III LLC with members Gregory M. Freedman, Daniel N. Lebensohn, and Charles C. Phelan, paid $160 million for the balance of a $226.6 million construction loan on the remaining unsold condos in the 200-unit Trump Hollywood (top left photo)  oceanfront tower, according to the South Florida Business Journal.

With the Trump Hollywood condo bulk transaction, nearly all of the remaining 228 available developer units in Southeast Broward County´s Hollywood / Hallandale Beach market as of the end of the third quarter of 2010 are now sold, according to the report based on the soon-to-be-published Condo Vultures® Official Condo Buyers Guides To Hollywood / Hallandale Beach™.

"This is a milestone for South Florida´s overbuilt condo market,¨ said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "The Hollywood / Hallandale Beach area has earned the distinction of being the first South Florida market to sell out of more than 99 percent of the total condo inventory built during the boom years.

 Fort Lauderdale is a close second with less than four percent of its new inventory remaining.

"Beyond that, the other five major condo markets in South Florida have double digit percentages of unsold developer units from the boom." 

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

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McCarthy Building Companies is Constructing a New High School in Rancho Mirage, CA for Palm Springs Unified School District

RANCHO MIRAGE, CA — McCarthy Building Companies, Inc. www.mccarthy.com, one of the premier school builders in the U.S., is constructing the $99.3 million high school in Rancho Mirage for Palm Springs Unified School District (PSUSD).

The 332,000-square-foot high school  (top left rendering) is being constructed on 60 plus acres near DaVall Drive and Ramon Road in the city of Rancho Mirage.

“The new 2,200 student capacity high school will alleviate overcrowding from other high schools in the district,” said Mike Sattley, PSUSD project manager. “Plus, constructing in the current economic climate is cost effective,” he added. 

Funding for the school is provided by local Bond Measures E and T. The school was also provided with a $3 million grant from the California Career Technical Education Program for construction of the culinary kitchen, multimedia/video classroom and mechanic/transportation lab.

Sattley added, “The District and McCarthy have been working well together on the high school, and the project is moving forward as scheduled.”

Serving as general contractor for the buildings and site package as well as construction manager for the offsite package, McCarthy recently completed mass grading and is currently constructing the underground site utilities and the building foundations. Sattley said he expects the structural steel portion of the buildings to be topped-out by mid-2011.

Contact: 

Laura Mickelson (LM Communication), (949) 453-0851,

Susan Garritano (McCarthy Building Companies, Inc.), (314) 968-3300

HFF secures $11.5 million refinancing for Orange County, CA mixed-use property

  

LOS ANGELES, CA – The Los Angeles office of HFF (Holliday Fenoglio Fowler, L.P.) has secured an $11.5 million refinancing for Plaza Empresa (top left photo), an 87,943-square-foot mixed-use property in Rancho Santa Margarita, California.

HFF director Chris Vittetoe (middle right photo) and senior managing director Paul Brindley (lower left photo)  represented the borrower in the transaction. 

 An adjustable-rate non-recourse loan was provided by Prime Finance, a commercial real estate finance company with offices in San Francisco, Chicago and New York.

“HFF successfully recapitalized a matured CMBS loan due to the high barriers to entry of Rancho Santa Margarita and strong sponsorship,” said Vittetoe.

Plaza Empresa is situated on a 7.17-acre site at 29821-29941 Aventura with excellent access to the 241 Toll Road in Orange County. 

The property was renovated in 1997 and includes five single-story buildings that are 70% leased to primarily service retail, restaurants and medical office tenants.

Contacts: 

Christopher Vittetoe, HFF Director, (310) 407-2100, cvittetoe@hfflp.com

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

                                                                                                                         

HFF closes $13.6 million two building office portfolio in Newport Beach, CA

IRVINE, CA -The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 3355 and 3388 Via Lido, office buildings totaling 49,886 square feet in Newport Beach, California.

HFF senior managing director Ryan Gallagher (top right photo) and director Kelly Rohfeld (middle left photo)  along with local market specialist John Pomer of Grubb and Ellis led the investment sales team on behalf of the seller.  Conrad Management purchased the portfolio for $13.6 million. 

3388 Via Lido is a five-story office property that features 110 linear feet of bay frontage with boat slips on the Newport/Lido Channel.  3355 Via Lido has three stories of office space and is located across the street from the channel with water views.  Both properties have immediate proximity to Lido Marina Village in Newport Beach. 

 “The buyer and their consultant Marshall Development have created an exceptional vision for the 3388 Via Lido building.  The building’s five-story height is well above today’s current zoning code, and from the top floors you have ocean and bay views.  This project will be the catalyst for the regentrification of Lido Marina Village,” said Gallagher.

Contacts:

Ryan Gallagher,  HFF Senior Managing Director, Ca. Lic. # 01269918, 

(949)   2538800, rgallagher@hfflp.com                              ,                                                                                            Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,    

krmurphy@hfflp.com

                 

HFF named to market for sale retail power center in south San Antonio, TX

 HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) have been named to market for sale City Base Landing (top left photo), a 201,426-square-foot retail power center in south San Antonio, Texas.

The HFF investment sales team will be led by senior managing directors Robert Williamson (middle right photo), Rusty Tamlyn (middle left photo) and Jim Batjer (lower right photo) who are representing the seller.  The property is being offered for sale for $35 million, which equates to a 7.9% cap rate.

Completed in 2005, City Base Landing is anchored by Best Buy, Office Depot and Hancock Fabrics.

 Additional retailers at the 93% leased center include AT&T, Buffalo Wild Wings, Cato Fashions, Chase Bank, Eye Masters, Shoe Show and Sherwin Williams. 

The property is situated on 22 acres at 3326 Southeast Military Drive at the intersection of Interstate 37 and Highway 281 in south San Antonio.

“South San Antonio is one of the most densely populated areas of the city, yet it lacks a substantial amount of Class A retail centers, allowing City Base Landing to pull customers from as far as 50 miles away,” said Batjer.

“Additionally, this area is poised for rapid growth in the next few years as Brooks Air Force Base completes its transformation to Brooks City-Base, which is a 1,246-acre business park offering more than two million square feet of laboratory, office and light industrial space.

“Coupled with the continued expansion of Toyota’s new assembly plant and a new branch campus for Texas A&M University, these economic drivers will bring additional jobs and homes to the area,” added Williamson.

Contacts:

Robert Williamson, HFF Senior Managing Director, (713) 852-3500;  rwilliamson@hfflp.com

Jim Batjer, HFF Senior Managing Director, (214) 265-0880,  jbatjer@hfflp.com

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

krmurphy@hfflp.com