Palmer Electric University of Florida Student Housing Project

WINTER PARK, FL, Oct. 25, 2010 — The commercial division of Palmer Electric Company has secured a $3.5 million contract with general contractor Brasfield & Gorrie LLC for The Continuum (top left rendering), a new University of Florida student-housing complex in Gainesville, Fla.

Under its scope of services, Palmer Electric is providing site and building electrical contracting along with low voltage systems that include fire alarm systems and voice/data cabling.

 Composed of three, five-story buildings that total 533,000-square-feet, the complex is composed of 465 units of one- and two-bedroom rental residences for graduate and professional students as well as 50,000-square-feet of ground level retail/ commercial space.

 According to Palmer Electric’s Vice President of Commercial Division, Robert Vaughn (middle left photo), “This is a fast track project due for completion in the end of July 2011.”

 Baton Rouge, La.-based nonprofit Provident Resources Group owns the 5.2-acre site that is located on West University Avenue just four miles from the University’s main campus. In a first for the University of Florida, the $68 million project will be developed and managed by an outside entity, Capstone Development/DJG, Inc. of Birmingham, Ala.

 Design Collective of Baltimore, Md., is the architect.  Another Birmingham firm, CRS Engineering & Design Consultants is providing mechanical, electrical, plumbing and fire protection engineering.

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

Stan Johnson Co. Opens Los Angeles Office as Part of National Expansion Plan

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LOS ANGELES, CA (Oct. 25, 2010) — Stan Johnson Company, one of the nation’s leading real estate brokerage and advisory firms specializing in net-lease investment sales, announced today that it has opened a new regional office in Los Angeles located at 10100 Santa Monica Blvd.

 This new office is part of the company’s national expansion plans which have included the opening of offices in Houston and Chicago outside of its headquarter location in Tulsa, OK.

In connection with the new office opening, Stan Johnson Company announced that veteran commercial real estate professional, Derek Layne (top left photo), has joined the company as an Associate Director. 

With 13 years of commercial real estate experience, Layne has recently served as principal of Brooktree Realty Advisors where he was instrumental in completing deals valued at nearly $175 million during the past two years.

  Prior to that, Layne worked as a CMBS loan originator for both JP Morgan and Countrywide, having originated over $1 Billion in loans for both firms collectively.

“In preparation for the next real estate cycle, we plan on continuing to leverage our specialization and expertise in primary markets as well as capitalize on our past successes that will drive new opportunities and growth for our company in the future,” said Stan Johnson (lower left  photo), founder and chief executive officer of Tulsa, Oklahoma-based Stan Johnson Company.

Contact: David Ebeling,  Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

http://www.stanjohnsonco.com/

David Cavallaro of Marshall Hotels & Resorts, Inc., Named 2009 General Manager of the Year by Wyndham Hotels and Resorts

  

WINCESTER, VA,  Oct. 25, 2010—Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, today announced that David Cavallaro (top right photo) has been honored by Wyndham Hotels and Resorts with the upscale hotel chain’s prestigious  General Manager of the Year award for 2009.

Cavallaro is GM of The George Washington (middle left photo), a Wyndham Grand Hotel, in Winchester, Va. 

In addition, the property received the 2009 Wyndham Hotels & Resorts Presidents RevPAR Performance Award, as well as the 2009 Expedia Insiders Select Award for ranking in the top 1 percent worldwide in guest satisfaction.       

 Under Cavallaro’s leadership, The George Washington, A Wyndham Grand Hotel, increased year-over-year occupancy by 55 percent and improved RevPAR Marketshare Index by 250 percent. 

 The award was presented by John Green, senior vice president of operations for Wyndham Hotels and Resorts, and Diane Barr, vice president of customer experience, at Wyndham Hotel Group’s recent global conference in Las Vegas.

“David’s commitment to the success of the George Washington is truly representative of excellent leadership,” said Jeff Wagoner (middle right photo), president of Wyndham Hotels and Resorts. 

 “His ability to approach problems creatively, effectively lead his team and create lasting impressions on those around him makes him a great asset to the hotel.  I congratulate David on this tremendous achievement and thank him for his dedication to the Wyndham brand and the Winchester community.”

Additional information about Marshall Management may be found at the company's Web site: http://www.marshallhotels.com/.

Contact: Pat Daly, Jerry Daly, media,  Daly Gray Public Relations, (703) 435-6293,  jerry@dalygray.com

Source1 Purchasing and Latino Hotel Association Form Alliance To Provide Members with Advantageous F&B Pricing Power

  MEMPHIS, TN./HOUSTON, TX, Oct. 25, 2010—The Latino Hotel Association (LHA), a newly formed global organization dedicated to expanding Latino ownership, leadership and commerce in the hotel industry, today announced that it has formed a strategic alliance with Source1 Purchasing to enhance the food and beverage pricing power of LHA members.

            “Hotel food and beverage operations historically have lower margins than the rooms side of hotels,” said Scott Hoffmire (middle left photo), F.M.P., founder and CEO of Source1 Purchasing.

 “Through our unique Buyers’ Marketplace program, we will provide LHA members with more attractive pricing options through more than 500 existing manufacturer agreements representing more than 6,000 food, beverage and supply products. 

 “Also, LHA members will earn rebates on items they purchase, with Source1 providing tracking, collection and allocation of rebates.”

 “One of our founding principles is to add value to our membership, including strategic relationships, like this one with Source1,”  says Angela Gonzalez-Rowe, (top right photo)  president and founder of LHA.   “Source1 has been named a Top Purchasing Company for 2009 and 2010 by a leading hotel publication, which attracted us to them.” 

Under the alliance, LHA members will have the collective buying power of more than $5 billion in leveraged purchasing volume.

  Other benefits include secure online access to customized reports, success tools, education and trend and partnership data.  The Buyers’ Marketplace program offers free access to a broad cross-section of regional and national partner distributors.

The voluntary program gives LHA members the choice to use Source1 or remain with some or all of their current suppliers. 

For more information, visit http://www.source1purchasing.com/.

Contact: Jerry Daly, Chris Daly,  Daly Gray Public Relations, (703) 435-6293,  jerry@dalygray.com

1,300 New Condo Units Remain Unsold In South Beach

 MIAMI, FL---Buyers purchased only 19 new South Beach condos in the third quarter of 2010, leaving more than 1,300 unsold developer units available as of Sept. 30, 2010 at the southern tip of the barrier island neighborhood located east of the Miami mainland, according to a new report from CondoVultures.com.

At the current pace of about six sales per month transacted between July and September of 2010, nearly 18 years of new condo inventory is currently available on the market in Miami Beach's famous 24-block long neighborhood, according to the report based on the Condo Vultures® Official Condo Buyers Guide To South Beach™.

 Despite the significant number of unsold developer units in South Beach, most Miami Beach developers have refused to slash prices dramatically to sell off their remaining condo product.

 In fact, buyers paid an average of more than $1,500 per square foot in the third quarter of 2010 for new units compared to $355 per square foot across Biscayne Bay in Greater Downtown Miami, according to the report based on Miami-Dade County records.

"South Beach is an international destination with world-class beaches, beautiful people, and a legendary nightlife that attracts visitors from around the world who are increasingly bringing strong foreign currencies," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Developers and lenders are well aware of South Beach's unique characteristics and future potential, and have therefore been unwilling to reduce the pricing significantly.

'The unanswered question is, whether the buyers or the developers and lenders will flinch first in hopes of transacting the deals necessary to clear the inventory." 

New condo sales and remaining inventory in South Beach is a topic that will be addressed by Miami-Dade County Property Appraiser Pedro J. Garcia at the upcoming Condo Vultures® seminar entitled "Property Tax Outlook Today, Future For Miami-Dade County" on Tuesday, Oct. 26, at the Miami Marriott Biscayne Bay in Miami.

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