HFF closes sale of and arranges acquisition financing for southeast Houston industrial facility

HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have closed the sale of and arranged financing for 8451 Market Street Road (top left photo), a 120,810-square-foot industrial facility in southeast Houston, Texas.

HFF senior managing director Rusty Tamlyn (middle right photo) and real estate analyst Trent Agnew led the investment sales team on behalf of the seller, Market Portwall L.P. (a partnership controlled by The National Realty Group, Inc.). 

Mayfield Properties purchased the property for an undisclosed amount free and clear of debt.

Working on behalf of the buyer, HFF director Brian Carlton (lower left photo) placed the five-year, 5% fixed-rate acquisition loan with Aetna Life Insurance Company. 

8451 Market Street Road is situated on five acres close to the 610 Loop and Interstate 10 interchange three miles north of the Port of Houston and five miles east of Houston’s central business district. 

The property has been renovated within the last year and is fully leased to Santini Export Packaging, Area Wholesale Tire and Interglobal Plastics.

“8451 Market Street’s largest tenant has been in occupancy since the early 1980’s, providing the owner with a strong anchor tenant and solid income stream,” said Tamlyn.

 Contacts:

Rusty Tamlyn, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, rtamlyn@hfflp.com

Brian Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com

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

HFF arranges $12.5 million refinancing for 66 Long Wharf in Boston

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $12.5 million refinancing for 66 Long Wharf, (top left photo) a 77,655-square-foot office and retail property along the waterfront in Boston’s Financial District. 

 HFF senior managing director Bob Herron (middle right photo) and senior real estate analyst Carlos Febres-Mazzei  worked on behalf of the borrower, ELV Associates, Inc., to secure the fixed-rate loan through Peoples United Bank. 

66 Long Wharf is among the most historic and unique properties along Boston’s waterfront.   

The property is 97.5% leased, of which 73% of the space is under long-term leases.

 Tenants include the Chart House restaurant, which has operated at the property since 1973, and engineering/construction giant AECOM (NYSE: ACM).

Located along Long Wharf in the Financial District, the property is in close proximity to the “State Street” MBTA subway station and is within walking distance to the North End, Faneuil Hall (lower left photo) and Beacon Hill.

“The property’s office occupancy has ensured strong cash flow for many years and shows no signs of abating,” said Herron.

ELV Associates was established in 1990 and has since completed the acquisition and development of more than four million square feet of commercial property in Boston, Washington, DC and Atlanta, representing nearly $500 million in market value.

Contacts:

Robert M. Herron,  HFF Senior Managing Director  (617) 338-0990, rherron@hfflp.com

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

Grubb & Ellis Facilitates Sale of Freezer/Cooler/Distribution Center to Supreme Lobster & Seafood Co.

  

ROSEMONT, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that it facilitated the sale of 279 Marquette Drive (top left photo) in Bolingbrook, a 101,088-square-foot freezer/cooler and distribution facility, to Supreme Lobster & Seafood Company.

 The sale represents the expansion of Supreme Lobster from its current operations in Villa Park.

Matt Mulvihill (middle right photo), executive vice president, Industrial Group, represented Supreme Lobster.  Jack Cozzie, senior vice president, Global Logistics Group, Jim Cummings, associate vice president, Industrial Group, and Frank Melchert, senior associate, Food & Cold Storage Group, represented the sellers, M&E Cold Storage, The Crowne Group and United Insulated.

“This facility gives Supreme Lobster a prime opportunity to expand its operations into a modern building with state-of-the-art building improvements,” said Mulvihill. 

 “The building is also ideally located in relation to the company’s customer base, supporting Supreme Lobster’s status as the leading seafood supplier of fresh and frozen seafood product in the greater Chicago area.”

Built in 2004, 279 Marquette Drive is a freestanding freezer building with 73,000 square feet of freezer space, 12,600 square feet of refrigerated dock space and approximately 15,000 square feet of office space.

Features include excellent expressway access, a desirable business park setting, 60-foot deep staging area and a clearance height of 35 feet. 

The property is also expandable by more than 50,000 square feet.

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

Grubb & Ellis Company Names Mathieu Streiff General Counsel

SANTA ANA, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has named Mathieu B. Streiff (top right photo) executive vice president, general counsel and corporate secretary, effective immediately.  Streiff replaces Andrea R. Biller, who has left the company.

“Mat has played a key role within our management team for several years,” said Thomas P. D’Arcy (bottom left photo), president and chief executive officer.  “We are extremely confident that his legal experience, strategic thinking and proven management skills will make him a highly effective general counsel.”

D’Arcy said, “Andrea provided the company with valuable insight, particularly with respect to our Investment Management business, and we wish her well in her future endeavors.”

 Streiff joined Grubb & Ellis Realty Investors in 2006 as the firm’s real estate counsel responsible for structuring and negotiating property acquisitions, financings, joint ventures and disposition transactions.  He was promoted to chief real estate counsel and senior vice president, investment operations in 2009.

 Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com

    

Retail Investment Veteran Ronald Cappello Joins Grubb & Ellis

KING OF PRUSSIA, PA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that Ronald Cappello (top right photo) has joined the company’s King of Prussia office as senior vice president, Private Capital Markets, specializing in retail real estate investments.

“Ron’s experience both as a broker representing the needs of retail investors as well as serving in ownership roles himself brings a new perspective to Grubb & Ellis,” said Bob Clements, executive vice president and market leader for Grubb & Ellis’ Philadelphia tri-state area.

  “His strong relationships, track record and expertise make him a tremendous addition to our team and represent a great opportunity to reassert our strength in the retail market.”

 Cappello is a 25-year industry veteran with experience in investment sales, asset management and retail leasing.

 Since 2004, Cappello was a senior director and investment sales broker for Fameco Real Estate, Inc., where he was the senior member of a team of five investment professionals in investment sales transactions totaling in excess of $500 million.

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

Marcus & Millichap Sells 62,981-SF assisted living and Alzheimer’s Community for $3.2 million in Altamonte Springs, FL

ALTAMONTE SPRINGS, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Emeritus at Altamonte Springs (top left photo), a 62,981-square foot Assisted Living and Alzheimer’s community located in Altamonte Springs, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,200,000.

 Ms. Krone Weidler (lower right photo), a senior associate and seniors housing specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based out of Seattle, Washington.  Ms. Weidler also represented the buyer, a limited liability company based out of Maryland.

Emeritus at Altamonte Springs is located at 433 Orange Avenue.  This premier Assisted Living and Alzheimer’s community is set on five acres of beautifully landscaped grounds with an outdoor courtyard and swimming pool.

“The buyer is planning extensive renovation and expects upside in occupancy and rents.” says Ms. Weidler.

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

Melrose-Sovereign Companies to manage Lake Thomas Pointe in Land O’Lakes and Harbor Grove in Safety Harbor

ORLANDO, FL - Melrose-Sovereign Companies, the Orlando-based firm that ranks as one of the largest and most active homeowner and condominium association management firms in Florida, was recently awarded contracts to manage the homeowner associations at Lake Thomas Pointe in Land O’Lakes and Harbor Grove in Safety Harbor.

 Jack Hanson (middle left photo) and Ellen Lumpkin (top right photo), co-founders and partners at Melrose-Sovereign Companies, said Lake Thomas Pointe is a gated luxury community located on the southern shore of Lake Thomas.

Lake Thomas Pointe features estate-sized home sites, a boardwalk and a dock for swimming, canoeing and paddle boats.

Harbor Grove is a luxury home community off Highway 580 and North Bay Hills Blvd. in Safety Harbor on the west shore of Tampa Bay. The community features a resident-controlled association of 34 home owners.

 Headquartered in Orlando, Melrose-Sovereign Companies has eight offices throughout the state.

For more information contact: 

Jack B. Hanson, LCAM, Partner/co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com

 Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com

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

Emerson Park by Centex Homes Starts Phase Four with Homes Priced from the $110s

 ORLANDO, FL - Emerson Park (top left photo), the pedestrian-friendly family community located off Alston Bay Blvd. east of the Western Beltway interchange at Ocoee-Apopka Rd. near Apopka, has started a fourth phase of single-family and town homes by Centex Homes priced from the $110s.

 Sean Strickler, vice president of marketing for the Central Florida Division of Centex Homes, said land development for the fourth phase is now under way. 

 Construction of the next town home building featuring new two-story designs will begin before the end of the year, Strickler added.

 Emerson Park features a private community clubhouse and swimming pool, along with a community playground.

 Strickler said Centex Homes is having a Red Ribbon inventory sale now through Dec, 12 at Emerson Park that offers discounted pricing with up to six percent towards closing costs, special six month no interest financing and a wide range of free features and upgrades on select inventory homes in the community.

For more information, contact:  

Lyndsey Clarke, Marketing Manager Centex Central Florida, 407-661-2150 ext 1416 2301 Lucien Way, Suite 400, Maitland, FL 32751; lyndsey.clarke@pultegroup.com

Sean C. Strickler, Vice President Sales & Marketing Centex-Central Florida, 407-661-1461 sean.strickler@pultegroup.com;

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

  

Emerson International awards $400,000 contract to build out new headquarters facility at CenterPointe I for North American Risk Services

ALTAMONTE SPRINGS, FL – Emerson International recently awarded a contract worth $400,000 to provide interior build out services at CenterPointe I (top left photo), the four-story, 97,000 square foot Class A office building Emerson International developed at 240 E. Central Parkway in Altamonte Springs.

 Eric Emerson (bottom right photo), general manager and vice president of Emerson International, said MacDade Construction, Inc. of Deltona will build out the new 19,496 square foot headquarters facility leased by North American Risk Services, Inc., the Central Florida based firm which provides claims management services for insurance, brokerages, managing general agencies, re-insurers, liquidation bureaus and self-insured funds.

 Emerson said North American Risk Services plans to move into its new headquarters facility in December.

 Kenneth Koch, commercial portfolio manager for Emerson International, negotiated the long-term lease agreement with NARS.

For more information, contact:   

Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;

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