Woolbright Development Announces Restaurant Openings at

  

MIRAMAR, FL– Woolbright Development announced that five new restaurants have opened over the last few months at Miramar Square (top left photo) in Miramar, Fla.

Miramar Square is a 240,000 square-foot shopping center anchored by Kohl’s, Staples and Dollar General that is located at the southeast corner of Flamingo Road and Miramar Parkway. The new openings include:

·            Golden Krust Caribbean Grill (middle right photo), the nation’s largest Caribbean franchise chain, is a quick service restaurant serving authentic Jamaican, West Indian and Caribbean cuisine.

 L&L Market Bistro/Elle’s  is a combination prepared foods market and full-service restaurant.  L&L Market Bistro is a casual deli-style market offering sandwiches, unique salads, hand-crafted beers and small-production wines. Elle's is a full-service restaurant and bar with an innovative menu, live music and happy hour specials.

·            Smitty’s Grill (middle left photo) is a family-friendly barbecue restaurant with flat-screen TVs creating the perfect atmosphere for sports fans. 

·           La Coriana is a Venezuelan restaurant serving the area’s best arepas, cachapas, patacones and more.

·            Giardinos Gourmet Salads specializes in bringing nature’s raw foods to create a unique culinary experience.

Miramar is among the nation’s fastest growing cities in the country and is home to several Fortune 500 companies such as Carnival Cruises, Royal Caribbean, Delta Airlines and soon the Florida National Guard. 

“The relocation of many large corporations to western Broward County, particularly in the Miramar Park of Commerce, has been a boon to the retail market,” said Pete Schlang (lower right photo), Woolbright’s director of leasing.

  “The restaurants at Miramar Square fit the many lifestyle needs of those who live and work in the area, whether they want gourmet prepared foods to bring home, take-out or a nice evening out on the town.

“ Miramar Square is truly a lunch and dinner destination, with a variety and choice for everyone.”  There are some additional great restaurants scheduled to open in the next months including Coldstone Creamery and Sir Pizza.

Anahi Quino, leasing agent with Woolbright, handled the transactions.

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

Woolbright Development Announces New Tenant Openings at Intracoastal Mall in North Miami Beach, FL

           

NORTH MIAMI BEACH, FL. – Woolbright Development announced that the following stores have signed a lease at Intracoastal Mall (top left photo) in North Miami Beach, Fla., a 234,000 square-foot shopping center located at the northeast corner of 163rd St. and N.E. 35th Ave. that is readily accessible to Aventura and Sunny Isles:

·           Hiro’s Yakko-San, an award-winning, Zagat-rated authentic Japanese “soul food” restaurant serving sushi and tapas that has been recognized by Food and Wine Magazine and Details Magazine, will be relocating to Intracoastal Mall. 

Perfect for late-night bites, the restaurant will be open daily until 2 a.m., and 3 a.m. on Friday and Saturday.  Located at 3881 N.E. 163rd St., the 4,438 square-foot Hiros’ Yakko-San is expected to open in December 2010. 

·           Dollar Tree is a national chain that that sells a diverse mix of merchandise for one dollar or less. 

Leasing 10,200 square feet, the store is expected to open in early 2011 at 3509 N.E. 163rd St. and will be open seven days a week from 9 a.m. to 9 p.m. Monday through Saturday and 10 a.m. to 7 p.m. on Sundays. 

Anchored by TJ Maxx, Old Navy, Winn Dixie and Sunrise Cinemas, Intracoastal Mall also offers the only waterfront dining in North Miami Beach at its popular restaurants featuring The Water Club, Rack’s Italian Kitchen, Flamma Brazilian Steakhouse and C-Lounge (cigar lounge).

“From entertainment to clothing and grocery stores to restaurants, Intracoastal Mall is a vibrant shopping center offering everything a customer needs in one central location,” said Pete Schlang (lower right photo), Woolbright’s director of leasing who also handled the transactions.

“Hiro’s Yakko-San and Dollar Tree will complement the diverse tenant mix already established here and attract new shoppers to the center.”

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

Capital Markets Improving but More Problems Ahead, RECI Predicts

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CHICAGO, IL, Dec. 3, 2010 - Real estate capital markets are

improving, yet commercial mortgage delinquencies continue to rise for over-leveraged properties still priced far above recovering values.

Statistics vary by property type, location, leverage and other underwriting metrics, but clear signs portend more loan performance issues for next year and beyond. 

November's capital market performance ended with more rate increases as

5-year treasuries increased by over a half point and 10-year rates by over a

quarter point. 

Shorter-term rates remained relatively flat.  MBS spreads continue to widen as buyers of MBS remain on the sidelines and lender offerings increase as the year-end approaches.

On the positive side, the midterm elections, improving employment and a

stock market rebound -- all bode well for the commercial real estate sector

including the following observations:

*   Sales momentum remains low, yet quality Core assets are very

competitive due to scarcity.

*   Available distressed and foreclosed properties much lower than

originally anticipated as most banks still write down loans, perform workout and "blend/extend" in preparation of monetizing their holdings. 

·         However, 2011 and 2012 should offer more inventory for sale as banks aggressively move to clear their balance sheets with an improving economy.

*   Single-tenant, credit properties enjoy dramatic price resurgence in

direct correlation with improving corporate performance, similar to

pre-recession levels.

*   Banks are getting healthier but access to credit is still very tight

Observation: 

Sponsorship net worth is an ongoing concern within the lending

community, especially with the Agencies.  Lenders require at least 10% of

the loan amount in Liquidity (cash, marketable securities).

  In addition, 401k, IRA and unused credit lines typically do not qualify as part of the liquidity test.  Overall, net worth benchmarks include about from about 30% to 60% of the loan amount, depending upon the funding amount.

Jeanne Peck, (top right photo) Executive Director of the Real Estate Capital Institute, advises, "As we head into 2011, expect much higher transaction volume as financial institutions want to put past legacy loans behind them and reallocate their investments according to new business plans."

 Peck also suggests, "Values for non-core assets will continue to suffer as more non-core assets are unloaded into the market."

The Real Estate Capital Institute(r) is a volunteer-based research

organization that tracks realty rates data for debt and equity yields.  The

Institute posts daily and historical benchmark rates including treasuries,

bank prime and LIBOR.

 For hourly rate updates, call  the Real Estate Capital RateLine at

7RE-CAPITAL (773-227-4825) .

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

Contact: Jeanne Peck, Executive Director

Toll Free 800-994-RECI (7324)

mailto:  director@reci.com

http://www.reci.com/

Colliers International Continues U.S. Growth with Addition of The Winbury Group in Kansas City

SEATTLE, WA and KANSAS CITY, MO.,Dec. 3, 2010/PRNewswire/ -- Building upon the explosive growth of its domestic operations, Colliers International today announced that it has acquired a controlling interest in Kansas City's leading commercial real estate services firm, The Winbury Group.

With today's development, nine market leaders have integrated their operations into the third largest global player and rebranded as Colliers International over the past year.

By merging with Colliers International, The Winbury Group will immediately evolve from a locally owned top-performing operation to a key component of one of the world's largest and most sophisticated real estate companies, with 15,000 employees operating out of more than 480 offices in 61 countries and with revenues of nearly $2 billion.

"With today's news, we are continuing our systematic strategy to seize additional market share in the U.S.," said Dylan Taylor (top right photo), chief executive officer of Colliers International in the U.S.

  "Our U.S. continued expansion further solidifies our ability to provide the best service to our clients and the best career opportunities for our professionals. The Winbury Group is the clear market leader in greater Kansas City and we see very high alignment between the two firm's cultures."

Ted Murray (middle left photo), who serves as the CEO of The Winbury Group, adds: "After serving our clients for more than two decades throughout the Kansas City region and the country, we are thrilled to join Colliers International, a global industry leader.

“Our ongoing commitment to deliver the highest-quality commercial real estate services in the region will be significantly enhanced by this merger. Our clients will continue to rely on our local market knowledge and connections, but going forward they also will benefit from the national and international growth opportunities and resources of Colliers."

Contact: Parke Chapman, +1-212-889-0808, parke@themarino.org

for Colliers International