Post Properties Announces Quarterly Dividends

 ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.20 per share for the third quarter of 2010.

The dividend is payable on October 15, 2010 to all common stock shareholders of record as of September 30, 2010.

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the third quarter. The dividend is payable on September 30, 2010 to all Series A preferred stock shareholders of record as of September 15, 2010.

On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the third quarter.

The dividend is payable on September 30, 2010 to all Series B preferred stock shareholders of record as of September 15, 2010.

Contact: Post Properties, Inc., Dave Stockert, President (top right photo), 404-846-5000

Cousins Properties Announces Results of Third Quarter Dividend Elections

ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ third quarter common stock dividend of $0.09 per share declared by its Board of Directors on July 15, 2010.

The dividend will consist of approximately $3.1 million in cash and 878,000 shares of common stock.

 The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend, or approximately $3.1 million, and therefore shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $6.95 average closing price per share of Cousins’ common stock on the New York Stock Exchange on September 7, 8 and 9, 2010.

The dividend of $0.09 per share will be paid as follows:

• to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;
• to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.042 per share in cash and $0.048 per share in common stock; and
• Cousins will pay fractional shares in cash.

Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449.

 If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.

The issuance of approximately 878,000 shares of Cousins’ common stock pursuant to this dividend resulted in an effective increase of 0.86% in shares of common stock outstanding on the record date of August 2, 2010.

Contact:

Cousins Properties Incorporated
Investment Community and Media:
Cameron Golden, Director of Investor Relations/Corporate Communications
404-407-1984
CameronGolden@cousinsproperties.com

DCT Industrial Trust Inc. Selects Grubb & Ellis to Manage 1.1-Million-SF Industrial Portfolio in Seattle Market

      

SEATTLE, WA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that DCT Industrial Trust Inc. has awarded the company the management assignment of seven Class A industrial properties offering a total of 1.1 million square feet space throughout the Seattle market. 

The management assignment follows DCT Industrial’s selection of Grubb & Ellis’ Matt McGregor (top right photo), senior vice president, Industrial Group, Bill Condon, (lower left photo)  executive vice president, managing director, and Andrew Hitchcock, vice president, Industrial Group, as the leasing agents of the property in May. 

Heather Nix, senior property manager, and Lee Wallis, CPM, CCIM, senior vice president, managing director, will lead the management assignment. 

“DCT Industrial’s selection of Grubb & Ellis to manage as well as lease this outstanding portfolio speaks volumes of the well-integrated services we provide clients,” said Nix. 

“We look forward to supporting such a highly regarded industrial owner like DCT Industrial, while working with the leasing team to keep the portfolio at its high standing within the marketplace.”

The portfolio is 95 percent leased and consists of four properties in Kent, including O’Brien Business Park (top left photo) , a 182,000-square-foot building located at 6804 212th St.

The park is anchored by BarclayDean Environments, a workspace furniture manufacturer, and is within close proximity to Highway 167 and Interstate 5.  The other three properties in Kent are:

§  The Van Doren’s Landing Shaw Industries building, located at 22408-22620 64th Ave. S, is anchored by Shaw Industries and offers approximately 192,000 square feet of space.

§  The 183,000-square-foot Van Doren’s Landing Sea-Pac Building, located at 6215-6307 S. 228th St., is fully occupied by multiple tenants, including Sea-Pac Sales Company and Cronin and Company.

§  Seattle Bike Supply building, located at 7620 S. 192nd St., offers 66,500 square feet of space is fully occupied by Seattle Bike Supply. 

The portfolio also includes two assets in Algona, Algona Business Park Buildings A and B.  Located at 1150 Industry Drive N, Building A offers nearly 100,000 square feet of space.  Building B is located at 840 Industry Drive N and consists of nearly 200,000 square feet of space. 

 

The portfolio also includes 800 S.W. 27th St., Renton, (lower right photo) a 182,000-square-foot building fully occupied by Trojan Lithograph. 

Contact:          Julia McCartney                                  

Phone:             714.975.2230                                     

Email:              julia.mccartney@grubb-ellis.com  

  

D & A Building Services Wins Second Zoo Contract

LONGWOOD, Fla., Sept.  15, 2010 — The Landscape Division of D & A Building Services Inc. has secured a second contract for commercial landscape maintenance services at the Central Florida Zoo & Botanical Gardens in Sanford, Fla.

 The scope of services for this contract includes lawn mowing and edging; shrubbery trimming, pruning and shaping; trimming of ornamentals and groundcover; tree and palm canopy maintenance; hardscape pressure cleaning; and storm debris clean-up and removal for the venue’s inner loop common space.

D & A’s initial contract includes the same scope of services for the Zoo’s outer loop common area. Services are performed weekly.

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

Liberty Property Trust Acquires Warehouse Distribution Facility in Orlando, FL

ORLANDO, FL – Sept. 15, 2010 - Liberty Property Trust (NYSE:LRY) today announced that it has purchased a 713,585 square foot warehouse distribution facility for a total investment of $23.6 million, bringing the company’s Orlando portfolio to more than 4.5 million square feet of space. 

The newly acquired warehouse facility is 100% leased to a high-credit tenant, and is located at 8201 Chancellor Drive in the South Orlando industrial submarket. 

“This property’s position on Chancellor Drive just may be the most desirable, strategic location for distributing product to the entire Florida market,” commented Liberty senior vice president, Stephen Whitley (lower left photo).

David Murphy (top right photo) of CBRE in Orlando (along with the CBRE Atlanta Investment Sales Team of Frank Fallon, Chris Riley and Brian Budnick) represented Pacific Life in the sale of the distribution facility.

Liberty owns, manages and leases a total of 35 buildings providing office and industrial space to approximately 90 tenants in the greater Orlando area.

General Inquiries:  Stephen Whitley, Liberty Property Trust, 407/447-1776

Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653

Woolbright Development Names Enrique Kaufer Vice President of Marketing and Business Development

BOCA RATON, FL (Sept. 15, 2010) – Enrique Kaufer (top right photo)  has been named vice president of marketing and business development for Woolbright Development, Florida’s leading retail real estate services company.

  Kaufer is responsible for marketing initiatives for Woolbright’s shopping centers throughout Florida, as well as supporting its tenants with marketing strategy and implementation.

Kaufer brings more than 15 years of progressive experience in marketing, business development and management. 

 Most recently, he led business development for Yahoo! Hispanic Americas.  Previously he was vice president of marketing and business development for Levy Pollo Campero and vice president of marketing and business development for La Opinion, the largest Spanish language newspaper in the U.S. 

 Earlier in his career, he held marketing and business development roles at American Express and the Pepsi-Cola Company.

Duane Stiller (lower left photo) president of Woolbright Development, stated “Enrique brings a wealth of marketing and real estate experience to our team. 

"He brings a fresh perspective and new initiatives that will translate into tremendous business opportunities for our tenants. Our vision is to provide tenants with a level of marketing support that is unparalleled in the industry.”

           

For more information about Woolbright Development, visit http://www.woolbright.net/ or call (866) WDI-1230.

Media Contact:  (954) 776-1999

Pierson Grant Public Relations

Maria Pierson, ext. 222, mpierson@piersongrant.com

Rachel Shapiro, ext. 230, rshapiro@piersongrant.com

Arbor Closes $1,850,000 Fannie Mae DUS® Small Loan

 Uniondale, NY (Sept. 15, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,850,000 loan under the Fannie Mae DUS^® Small Loan product line for the 36-unit complex known as Grand Manor Apartments (top left photo)  in Apple Valley, MN. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by Patrick McNulty (lower right photo) , Director, in Arbor’s full-service Chicago, IL, lending office.

 “This was a straightforward deal,” McNulty said. “Given the long-term ownership and solid historical operations at the property, Arbor was comfortable allowing the borrower to cash out at closing.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

Marcus & Millichap Names Dino Christophilis Associate Vice President Investments

 

SEATTLE, WA– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Dino Christophilis (top right photo)  to the position of associate vice president investments.

The designation represents excellence in client relationships, investment real estate expertise and sales volume, according to John J. Kerin, president and chief executive officer.

Most recently, Christophilis held the position of senior associate. He began his career with Marcus & Millichap in 2005, specializing in retail investment sales nationwide. Christophilis is a director of the firm’s National Retail Group.

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

John Crossman, President of Crossman & Company, to Speak About Commercial Real Estate Careers at Florida Southern College

ORLANDO, FL --- John Crossman (top right photo) , president of Crossman & Company, the commercial real estate firm that ranks as one of the largest third-party retail leasing and management firms in the Southeast, will speak to the business students at Lakeland’s Florida Southern College on Sept. 23.

Crossman, who ranks as one of Florida’s most prolific commercial real estate professionals, will talk about commercial real estate careers in a speech entitled “Career Builders and Career Killers.”

In October, Crossman will speak at a fundraising event at in Orlando to benefit the Florida State University track and field team.

For more information, contact:

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

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

Grubb & Ellis|Commercial Florida Wins New Assignment – Portfolio of Four Properties Totaling More Than 350,000 Square Feet

ORLANDO, FL--- Grubb & Ellis|Commercial Florida was recently assigned a new portfolio owned by Denholtz Associates of New Jersey. 

Jeff Sweeney (top right photo), SIOR, president at Grubb & Ellis|Commercial Florida, said the portfolio includes four commercial real estate properties representing more than 350,000 square feet of office and flex space in located in Orange County, Florida.

Sweeney said associates Mike Davis and Eric Penaranda of the Orlando office of Grubb & Ellis|Commercial Florida will be representing the four properties.

Contact: 

www.commercialfl.com

 Larry Vershel Communications 407-644-4142

 Jeff Sweeney SIOR President 407-481-5387

Eric Penaranda, 407-481-5389     

Mike Davis 407-481-5402                                                                                                                                            

Corecon V7 Selected as Top Business Aplication for Septembeer 2010

  Huntington Beach, Calif.--– Corecon V7, a web-based suite of construction software for the architecture, engineering and construction (AEC) industry, was selected as a Top 20 Business Application for September 2010 by GetApp.com, the business software search engine.

 The GetApp.com Top 20 Business Apps ranking is based on a composite algorithm that incorporates several criteria, including listing popularity on GetApp.com, number of reviews and comments, social media presence such as Twitter and FaceBook followers, volume and quality of integration points, and input from analyst reports.

The ranking is updated monthly. You can view the ranking online at GetApp.com Top 20 Business Apps .

“Being part of the GetApp.com Top20 Business Apps demonstrates the interest for a set of market leading products from an ever growing base of companies buying on-demand software," said Christophe Primault, CEO of GetApp.com. “We are excited to see a construction industry specific application like Corecon V7 make this listing of top products. This truly reflects their leading position in this market segment."

“We are honored to be recognized as a Top 20 Business Application by GetApp.com for the release of Corecon V7,” said Norman J. Wendl, president of Corecon Technologies, Inc. “Our firm utilized customer input and invested a lot of resources into V7 to make this launch a success. I believe we have succeeded at producing an innovative software as a service (SAAS) product to help construction professionals manage the entire construction process more easily and efficiently.”

Contact: Laura Mickelson,  LM Communications, 949-453-085,  lauramickelson@cox.net

                   

                  

David Young of Morrison Commercial Real Estate Receives NAIOP 2010 Developing Leaders Award

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Orlando, Fla., September 14, 2010 – David Young (top right photo)  of Morrison Commercial Real Estate has been named as one of the recipients of the 2010 Developing Leaders Award, presented by NAIOP, the Commercial Real Estate Development Association.

Young currently serves as Senior Associate with Morrison Commercial Real Estate in Downtown Orlando where he specializes in the leasing and sales of office properties throughout the Greater Orlando market. He is also working on the completion of his CCIM designation.

Young will be presented his NAIOP's Developing Leaders Award at the Development '10: The Annual Meeting for Commercial Real Estate, which takes place October 27-29 in Orlando.  The event features three days of education, interaction and events all tailored to help NAIOP members achieve success.

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

General Electric Adopts Advanced Telemetry’s ‘EcoView™ Residential’ Energy Management System

SAN DIEGO, CA – Advanced Telemetry (www.AdvancedTelemetry.com), developer of the EcoView^TM smart energy management system for light commercial and residential applications,  announced that General Electric Co. (NYSE: GE) (“GE”) has adopted its “EcoView Residential” solution for select energy conscious home builders across North America.  

General Electric is working with a select group of home builders and developers to design homes that are not only comfortable, but also achieve at least a 20% reduction in household energy usage, indoor water consumption and overall carbon emissions as compared to industry-accepted average new homes. 

Now a key component of the program, the EcoView Residential energy management system is integral in helping homeowners easily and consistently achieve this high level of energy efficiency – and also benefit from the related cost savings.

“EcoView Residential is an innovative solution addressing the rapidly growing smart grid industry, enabling homeowners to actively participate in taking the pressure off our overloaded grid infrastructure,” notes Advanced Telemetry President Gus Ezcurra (top right photo).  “This helps improve grid reliability and security, while reducing residential energy bills and environmental impacts.“

More information may be accessed on the Advanced Telemetry blog at http://at-cto.blogspot.com or through the company’s Web site at www.AdvancedTelemetry.com.
EcoView is a trademark of Advanced Telemetry, LLC.  Other product, program and company names herein may be trademarks of their respective owners. Copyright 2009 Advanced Telemetry, LLC. All rights reserved.

Media contact: : Merilee Kern, Kern Communications, 858-577-0206, merilee@kerncommunications.com    

Thomas D. Wood & Co. Brokers $12 Million Loan for CVS in Puerto Rico

MIAMI, FL--Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $12,432,000 for the CVS Pharmacy in Dorado, Puerto Rico.

Tom Wood, Jr. (top right photo), Company President, secured financing for the CVS Pharmacy through Thomas D. Wood and Company’s relationship with a national lender.  The fully-amortizing loan has a term of 25 years, based on a fixed interest rate of 6.79% and a loan-to-value of 90%. 

The loan allowed the borrower to purchase the property on a sale/leaseback transaction and lock in an attractive long-term interest rate.

The website may be accessed through http://www.tdwood.com/.

For further information, please contact:

Tom Wood, Jr., (305) 447-78236, tomjr@tdwood.com

Jessica Kinnee, (407) 937-0470,  jkinnee@tdwood.com

       

Fimiami Development Brokers $1.1 Million Sale of Building in Boca Raton, FL

  BOCA RATON, Fla. – Boca Raton-based Fimiani Development announced the sale of a 4,116 square-foot two story office and retail building at 720 E. Palmetto Park Road in Boca Raton. 

McCormick 104, LLC, sold the property for $1.1 million to 720 East Palmetto Park Road, LLC.  Michael Fimiani (top right photo), president of Fimiani Development, handled the transaction. 

The building is located between AIA and the Intracoastal Waterway in East Boca. 

“There are improved opportunities in the office and retail market in certain situations, especially for owners/users,” said Fimiani.

Fimiani Development is involved with commercial real estate projects throughout Florida.  

The company’s services include court appointed receivership assignments, acquisition and redevelopment of existing shopping centers, consultation in developing third-party leasing programs and performing third-party leasing and management assignments of retail and office properties. 

For more information, visit http://www.fimiani.com/.

Media Contact:  Maria Pierson, 954/776-1999, ext. 222

                                                                           

LoopNet Acquires LandsofAmerica, the Largest and Most Heavily Trafficked Online Land for Sale Marketplace

SAN FRANCISCO, CA /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace and one of the largest commercial property research databases, has  announced the acquisition of LandsofAmerica, the operator of the largest and most heavily trafficked online marketplace specializing in land for sale at LandsofAmerica.com.

LandsofAmerica, available at http://www.landsofamerica.com/, is based in Austin, Texas.  The entire management team, including its founders Allen Shannon and Jake Massengale, will remain with LoopNet to manage and grow the business.

"We are very excited about the opportunity to incorporate the LandsofAmerica team and service offerings into the LoopNet suite of marketplace solutions.  "With this acquisition, LoopNet is significantly expanding its leadership position within the land sector, which includes commercial land, agricultural and farm land, ranch land, hunting land and rural land," said Thomas Byrne, (top right photo)  LoopNet President and Chief Operating Officer.

"We consider it both a pleasure and a privilege to join the LoopNet team and look forward to working together to grow our marketplace leadership position within the land sector," said Jake Massengale, Founder and CEO of LandsofAmerica. 

"It is exciting to have the opportunity to work hand in hand with LoopNet to expand our presence and offerings within the land sector," said Allen Shannon, Founder and President of LandsofAmerica.

Terms of the transaction were not disclosed.  LoopNet does not currently expect the acquisition to have a material impact on its 2010 financial results.

For a complete copy of the company's release, please contact:
Cary Brazeman, +1-310-205-3590, pr@LoopNet.com, for LoopNet, Inc.
Web Site:  http://www.loopnet.com/
http://www.landsofamerica.com/