HFF closes sale of Britannia Business Center II in Pleasanton, CA

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Britannia Business Center II, (top left photo) a three-building office/R&D portfolio in Pleasanton, California.

HFF senior managing directors Michael Leggett (middle right photo) and Gerry Rohm (middle left photo) and associate director Chris Pawlik led the investment sales team exclusively on behalf of the seller. 

The property was purchased for an undisclosed amount free and clear of debt.

Britannia Business Center II includes two single-story and one two-story building that total 276,210 square feet. 

Major tenants include Robert Half International, Microchip Biotechnologies and Waters Technologies. 

The properties are located at 4280 Hacienda Drive and 5700 and 5720 Stoneridge Drive within the Hacienda Business Park near the intersection of Interstates 580 and 680 in the Tri-Valley market.

“Britannia Business Center II has earned a reputation in the market for high-quality, well-maintained product, with the ability to accommodate general office or R&D uses in a variety of sizes,” said Leggett.

“This type of high-quality flex space has historically out-performed Class A office space in rental rates and overall occupancy.”

Contacts: 

Michael Leggett, CA Lic. (#01056334, HFF Senior Managing Director,

(415) 276-6300, mleggett@hfflp.com

Gerry Rohm, MRICS, HFF Senior Managing Director,  CA Lic. (# 01367742), 415) 276-6300, grohm@hfflp.com

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

                                          

Marcus & Millichap Sells Publix Shopping Center Ground Lease in Pensacola, FL for $7.95 Million

PENSACOLA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Shops at Perdido Key (top left photo), a 53,003-square foot Publix anchored shopping center, located in Pensacola, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $7,950,000.

 Leon Brockmeier (lower left photo) and Matt Reichenthal (middle right photo) , retail investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Florida.

This Publix shopping center ground lease is located at 13390 Perdido Key Drive. 

“This was a tremendous opportunity to acquire a rare Publix shopping center ground lease with a rent escalation in the original lease term. We procured multiple offers in a matter of hours and put the property under contract within ten days.” says Brockmeier.

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

Gemstone Hotels & Resorts to Manage Four-Star Tivoli Lodge in Vail, Colorado

VAIL, CO,  Dec. 6, 2010—Officials of Gemstone Hotels & Resorts, a full-service hotel management company that specializes in luxury and upscale urban hotels and resorts, today announced the company has been contracted to manage the 66-room Tivoli Lodge (top left photo) in Vail, Colo.

 The luxury ski resort hotel re-opened in March 2006 following the demolition of the original 1968 Tivoli Lodge and the rebuilding of the new, state-of-the-art facility.

“This is a beautiful, independent, boutique property located in the heart of downtown Vail Village,” said Jeff McIntyre (lower right photo), principal, Gemstone Hotels & Resorts.

 “As a family-owned resort hotel and one of the original properties in the area, the Tivoli Lodge has a unique relationship with the surrounding community.

“ We are honored to be a part of the Tivoli team and appreciate the trust the Lazier family has in us to help take this resort hotel to another level and build upon the traditions they have established here over the years.”

Located at 386 Hanson Ranch Road, the Tivoli Lodge, a ski-in property, is on the main pedestrian thoroughfare, on the Free Town Shuttle Bus Route, less than a block from Vista Bahn chairlift, Vail’s main access point, and a short walk from Golden Peak and the Riva Bahn chairlifts. 

Contact: Chris Daly, media, (703) 435-6293, chris@dalygray.com

 

Marshall Hotels & Resorts, Inc. Takes on Three Receivership Assignments

SALISBURY, MD, Dec. 6, 2010—Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, today announced the company has been appointed receiver for the Four Points by Sheraton Hotel & Suites Allentown Airport (top left photo), in Pa.; and Holiday Inn Danbury (middle right photo), in Conn and as operator for the Holiday Inn Buffalo Amherst Hotel (middle left photo), in N.Y., which is in receivership.

 “We are seeing lenders becoming increasing more aggressive in taking back hotels,” said Mike Marshall (middle left photo), president and CEO.

“We have a proven track record in quickly stabilizing and turning around troubled hotels and have the infrastructure in place to immediately take over individual properties and portfolios on a moment’s notice.

“ For these three properties, we will focus initially on what we believe are substantial opportunities in marketing and food & beverage to substantially increase revenues.”

·  Holiday Inn Buffalo Amherst Hotel, in N.Y.-- Located at 881 Niagara Falls Blvd., in Amherst, a short distance from Niagara Falls, downtown Buffalo, HSBC Arena and 30 minutes from Ralph Wilson Stadium, the 199-room hotel features complimentary 24-hour airport transportation to nearby Buffalo/Niagara International. 

 Four Points by Sheraton Hotel & Suites Allentown Airport, in Pa.—At 3400 Airport Rd., in Allentown, in the center of Lehigh Valley Industrial Parks, the property is conveniently near historic downtown Bethlehem, Dorney Park & Wild Water Kingdom, Blue Mountain Ski Area, Lehigh Valley Mall and Lafayette College. 

·  Holiday Inn Danbury, in Conn.—Situated at 80 Newton Rd., in Danbury, the full-service hotel has 114 guest rooms. The pet-friendly property has a 24-hour fitness center, seasonal pool, fax and copy services, book nook library and enough banquet space to accommodate up to 200 people.  Marshall will oversee a renovation of the hotel’s restaurant and lounge.

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

Contact: Jerry Daly, media, Daly Gray Public Relations, (703) 435-6293,

jerry@dalygray.com

                       

NAI Realvest Negotiates Purchase of Vacant Land for City of Longwood, FL Public Works Facility

MAITLAND, FL – NAI Realvest negotiated the acquisition of a 3.18-acre site located off SR 434 and U.S. Highway 17-92 in Longwood where a new City of Longwood Public Works facility will be built.  

NAI Realvest principal Michael Heidrich (top right photo) negotiated the transaction representing the City of Longwood who paid $475,000.00 for the property and will relocate its public works facility to the new location once construction is completed next year.

Note Investors, LLC of Scottsdale, Ariz. is the seller

For more information, contact:

Michael Heidrich, Principals at NAI Realvest, 407-875-9989 mheidrich@realvest.com;

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

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

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Arbor Closes $2,175,000 Fannie Mae DUS® Small Loan for Forest Ridge Apartments in Milwaukie, OR

Uniondale, NY (Dec. 6, 2010) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,175,000 loan under the Fannie Mae DUS^® Small Loan product line for the 50-unit complex known as Forest Ridge Apartments (top left photo) in Milwaukie, OR. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by Brian Scharf, (lower right photo) Director, in Arbor’s full-service Uniondale, NY, lending office.

“We were successful in locking the rate on Forest Ridge Apartments at a historical market low point, saving the borrowers several hundred basis points in debt service,” Scharf said.

 “This asset is a representation of Arbor's comfort not only in metropolitan Portland, OR, but in the surrounding suburbs as well. We look forward to continuing to grow our relationships in the Pacific Northwest.”

Contact: Christopher Ostrowski, costrowski@arbor.com

 

Post Properties Opens The Ritz-Carlton Residences in Buckhead and Welcomes First Owners

 ATLANTA, GA,  Dec. 6, 2010 - Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, announced today that closings have commenced at The Ritz-Carlton Residences, Atlanta, Buckhead. (top left photo).

Post Properties opened the on-site sales office at The Residences at the end of September, and sales are being led by Karen Rodriguez of Dorsey Alston Realtors. The building opened in November, and the first owners have taken up residence.

 The 129 residences comprise the top 17 floors of the 34-story, mixed-use 3630 Peachtree development in Buckhead.

 Inside each residence, color palettes and wood finishes have been hand-selected by Robert T. Brown. Here, he brings a unique understanding of elegance and personal style to each home.  The private amenity spaces can be found on the 18th and 19th floors where there is a sense of modern chic and Southern refinement.

 The Residences are managed by The Ritz-Carlton Hotel Company, which recently appointed Jean-Baptiste Queguiner as General Manager of The Residences, where he and his staff will offer their famed “anticipatory service” to homeowners.

“Having the General Manager and his staff now in place and welcoming the first residents is the crowning touch for this beautiful property,” said David P. Stockert (middle right photo)  CEO and President of Post Properties.

 “We are honored to have Jean-Baptiste leading the residential team of ladies and gentlemen at The Residences. We know they will offer our purchasers the service and luxury they have come to expect from The Ritz-Carlton brand.”

 In addition to the 129 residential units, the 3630 Peachtree mixed-use development includes 425,000 square feet of Class-A office, retail and restaurant space, and several office and retail leases have been completed and announced by the commercial development team.

 For more information, visit  http://www.theresidencesatlanta.com/ or call (404) 961-3630.

Media Contacts:

Terri Sherrod, Post Properties, 404.846.5063

Terri.Sherrod@postproperties.com

 Charlotte Marie Sturtz, Jackson Spalding, 404.214.3555

csturtz@jacksonspalding.com

 

Post Properties Opens The Ritz-Carlton Residences in Buckhead and Welcomes First Owners

  

 ATLANTA, GA,  Dec. 6, 2010 - Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, announced today that closings have commenced at The Ritz-Carlton Residences (top left photo), Atlanta, Buckhead.

Post Properties opened the on-site sales office at The Residences at the end of September, and sales are being led by Karen Rodriguez of Dorsey Alston Realtors.

The building opened in November, and the first owners have taken up residence.

 The 129 residences comprise the top 17 floors of the 34-story, mixed-use 3630 Peachtree development in Buckhead.

 Inside each residence, color palettes and wood finishes have been hand-selected by Robert T. Brown. Here, he brings a unique understanding of elegance and personal style to each home. 

 The private amenity spaces can be found on the 18th and 19th floors where there is a sense of modern chic and Southern refinement.

The Residences are managed by The Ritz-Carlton Hotel Company, which recently appointed Jean-Baptiste Queguiner as General Manager of The Residences, where he and his staff will offer their famed “anticipatory service” to homeowners.

“Having the General Manager and his staff now in place and welcoming the first residents is the crowning touch for this beautiful property,” said David P. Stockert (middle right photo)  CEO and President of Post Properties.

 “We are honored to have Jean-Baptiste leading the residential team of ladies and gentlemen at The Residences.

"We know they will offer our purchasers the service and luxury they have come to expect from The Ritz-Carlton brand.”

 In addition to the 129 residential units, the 3630 Peachtree mixed-use development includes 425,000 square feet of Class-A office, retail and restaurant space, and several office and retail leases have been completed and announced by the commercial development team.

 For more information, visit  http://www.theresidencesatlanta.com/ or call (404) 961-3630.

Media Contacts

Terri Sherrod, Post Properties, 404.846.5063

Terri.Sherrod@postproperties.com

 Charlotte Marie Sturtz, Jackson Spalding, 404.214.3555

csturtz@jacksonspalding.com

Grubb & Ellis Acquires Central Florida Affiliate

  

SANTA ANA, CA (Dec. 6, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has strengthened its presence in the Southeast with the acquisition of its central Florida affiliate, Grubb & Ellis|Commercial Florida, with offices in Melbourne, Orlando and Tampa.  Terms of the transaction were not disclosed.

 “We believe that the Southeast offers considerable growth opportunities for commercial real estate services providers, and acquiring Grubb & Ellis|Commercial Florida was a logical next move in what is a larger plan to increase Grubb & Ellis’ presence throughout the region,” said Thomas P. D’Arcy (top right photo), president and chief executive officer of Grubb & Ellis.

  “Grubb & Ellis|Commercial Florida has been a strong partner for a number of years.  The firm has many highly talented professionals, strong client relationships and a solid platform for growth.”

The change in ownership structure adds approximately 45 experienced brokerage professionals to Grubb & Ellis Company, who specialize in all aspects of commercial real estate, including office, industrial, retail, investments, multifamily and land.  Grubb & Ellis will now manage more than 15 million square feet of commercial property throughout Florida.  

 “We’re impressed by the progress Grubb & Ellis has made in attracting top talent and broadening its platform over the past several years, and we believe that as an owned office we will be able to leverage these enhancements to better serve our clients,” said Jeffrey Sweeney (top left photo), managing principal with Grubb & Ellis|Commercial Florida. 

 Sweeney will continue to oversee the Orlando and Melbourne offices as executive vice president, managing director.

 “Adding the north Florida presence was an integral part of our growth strategy in the Southeast and greatly enhances our ability to service all of our clients’ real estate requirements throughout the region,” said Randy Buddemeyer (lower left photo), executive managing director, Florida and the Carolinas.

Grubb & Ellis has stated that its goal is to be the leading provider of integrated real estate services.  In support of this objective, over the past two years it has aggressively recruited top talent into the company and strengthened and expanded its service platform to better meet the needs of clients and enhance the company’s overall profitability.

 During 2010, Grubb & Ellis acquired its affiliate in Las Vegas and opened owned offices in Cincinnati, San Diego and Phoenix, and announced similar plans for Columbus, Ohio, and Charlotte, N.C.

 The phone numbers and addresses of Grubb & Ellis’ Melbourne, Orlando and Tampa locations will remain the same. 

The addresses and phones for the offices are as follows:  Melbourne: 2108 W. New Haven Ave., 321.984.1957; Orlando: 20 N. Orange Ave. Suite 500, 407.423.1200 and Tampa: 3030 N. Rocky Point Drive West, Suite 560, 813.639.1111.

Contact: Janice McDill, Phone, 312.698.6707,                                       

Email: janice.mcdill@grubb-ellis.com

    

Woolbright Development Announces New Tenant Openings at The Commons at Town Center in Boca Raton, FL

  

BOCA RATON, FL (Dec. 6, 2010) – Woolbright Development announced that the following three stores have recently signed leases at The Commons at Town Center (top left photo) in Boca Raton and are now open for business.

•  Plato’s Closet occupies 3,000 square feet and features gently used name-brand clothing and accessories that have been in the retail stores within the past 12 to 18 months.

•  Prime Cigar & Wine Bar is Boca Raton's first full-service bar that specializes in the service and pairing of premium cigars with spirits.  Occupying 2,335 square feet, the bar offers fine wine, small batch bourbons, single malt and blended whiskey, signature rums and top shelf spirits of all kinds.

•  Jamie’s Boutique sells high-end women's contemporary and denim apparel and occupies 1,235 square feet.

The Commons at Town Center is located on N.W. 19th Street between Butts Road and Renaissance Way and is immediately adjacent to the Town Center Mall (middle right photo). The 117,921 square-foot shopping center is anchored Barbara Katz, TooJays and Moe's Southwest Grill. 

 “With a prime location near I-95 and Town Center Mall, recent renovations and a diverse retail mix that keeps expanding, The Commons at Town Center is becoming one of the premier retail destinations in Boca Raton,” said Pete Schlang (lower left photo), Woolbright’s director of leasing.

Gloria Kramer, leasing agent with Woolbright Development, handled these transactions.

Media Contact:  (954) 776-1999

Pierson Grant Public Relations

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

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