Parent Company of Avalon Park Group Acquires Major Share of Swiss Beverage Producer Thurella A.G.

 ORLANDO, FL. --- Kahli A.G., the parent company of Avalon Park Group in East Orlando, recently acquired a 6.5 percent stake in Thurella A.G. (BRN:TRLN), a Swiss beverage producer that specializes in fruit and vegetable juices.

 Beat Kahli (top right photo), who heads Avalon Park Group, said the 6.5 percent stake makes Kahli A.G. one of the three largest shareholders in Thurella A.G., a traditional, 100-year-old company.

For more information,  contact:  

Stephanie Hodson, Marketing Director, Avalon Park Group, 407-658-6565;  

Beat Kahli, Owner/Founder, Avalon Park Group, 407-658-6565;  

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

HFF closes $176 million sale and arranges $130 million financing for three Class A office buildings at the Houston Galleria

  

 HOUSTON, TX –HFF announced today that it has closed the $176 million sale of and arranged $130 million in financing for three Class A office buildings totaling 1,065,628 square feet that are part of the Houston Galleria (top left photo).

HFF marketed the property on behalf of the seller, an affiliated entity of Walton Street Capital, L.L.C., and procured the buyer, Unilev Capital Corporation. 

“During the process interest rates increased substantially.  Unilev and the lender committed to close the transaction and both closed as originally agreed to, which is a testament to their character and abilities to bring capital in an ever changing marketplace,” said Robert Williamson (middle right photo) of HFF.

HFF worked exclusively on behalf of the buyer/borrower, Unilev Capital Corporation, to secure the 10-year, fixed-rate acquisition loan through J.P. Morgan Chase Bank, N.A.  The loan will be serviced by HFF. 

“Dan and Raymond Levy worked diligently to close this transaction for Unilev and displayed the highest level of professionalism through the entire process,” added Williamson. 

Located at 2700 Post Oak Boulevard, 5051 Westheimer and 5065-5075 Westheimer, the properties are part of the Houston Galleria, a mixed-used development that includes 2.3 million square feet of upscale retail space, two Westin hotels with 893 rooms, three office towers and parking for 12,685 vehicles.

The Houston Galleria anchors the Galleria/West Loop office submarket and is located about five miles west of downtown Houston.  Tenants at the 90 percent leased office towers include Air Liquide, Southern Union, Merrill Lynch, Citigroup Global Markets, UBS, Banco Santander and BBVA Bancomer.

The HFF investment sales team representing Walton Street was led by senior managing director Robert Williamson. 

HFF senior managing director Wally Reid (lower left photo)  led the team representing the borrower, Unilev Capital Corporation.

Contacts:    

Robert Williamson, HFF Senior Managing Director, (713) 852-3500 rwilliamson@hfflp.com

 Wallace Reid, HFF Senior Managing Director, (713) 852-3500, wreid@hfflp.com

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

 

Palmer Electric Completes Citrus Club Renovation in Orlando

WINTER PARK, FL,  Feb.  24, 2011 — Palmer Electric Company completed its contract with Turner Construction Company for the renovation of the Citrus Club (top left photo) located on the 18 floor of the BB & T building (lower right photo) in downtown Orlando, Fla.

 Under the scope of its contract, Palmer provided electrical contracting and the installation of a new fire alarm system for the front-of-the-house area that encompasses 18,064 square feet of dining rooms, bar and meeting rooms. The project was completed in four months.

PVK Architects Inc. of Orlando, Fla., was the architect of record. The Citrus Club Inc. is the project’s owner.  

Palmer Electric Company is a provider of electrical contracting, service and energy saving technologies to commercial, institutional, industrial, utility and residential customers since its founding in 1951.

 Located in Florida, the company is headquartered in Winter Park with a residential division office in Jacksonville. 

For additional information, visit http://www.palmer-electric.com/

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

Parkside Partners Sells Chamblee, GA Building to AGL Resources

 ATLANTA, GA - Parkside Partners, LLC, an Atlanta based development and brokerage firm, recently sold a building (top left photo) it owned in Chamblee, Georgia to AGL Resources that will serve as the new location of the gas company’s Peachtree Service Center.  Parkside has been hired to AGL to handle the redevelopment of the building.

AGL acquired the 20,500 square foot building, located one-half mile from the former Doraville GM Plant, from RP Partners, LLC in late December 2010.  AGL’s planned renovation of the building will include a complete interior upgrade, exterior improvements, and new landscape and sidewalks with streetlights and street-trees.

The renovations are scheduled to start in March, and the Peachtree Service Center employees will occupy the building by the end of June.  The center will bring more than 50 jobs to the area, and has a total capital budget of $4 million.

“Parkside Partners has been a tremendous asset to the City of Chamblee,” said Chamblee Mayor, Eric Clarkson (middle right photo).  “They have been able to bring economic development to the City of Chamblee in these trying market conditions.

“They understand the vision of the City and seem to be more than happy to help us realize that vision by incorporating the design guidelines found in our zoning ordinances into the building of their developments.”

RP Partners, a partnership between Parkside Partners and RACO General Contractors, acquired the building in March 2008.  When Ingersoll Rand, which had leased and occupied the building the past 10 years decided to relocate when its lease expired, Parkside approached AGL about acquiring and completing an adaptive re-use of the building and 2.8 acre site.

The sale to AGL closed on Dec. 29 for a purchase price of $2.98 million.  Parkside Partners’ principal, Kyle Jenks, (middle left photo) represented RP Partners and Jim Sanders of ICON Commercial represented AGL.

The AGL Building redevelopment is the latest of several development projects Parkside Partners worked on in Chamblee. 

 Parkside’s other Chamblee developments include 3401 Malone, a warehouse Parkside converted into a loft office space for WGSI, a division of URS Corporation, and 5256 Peachtree (lower right  photo), another converted loft office building where Parkside relocated its offices and has attracted ten additional tenants.

“Combined, Parkside Partners has been involved in nearly $16 million of redevelopment in Chamblee in the past two years, and we made it our new corporate home,” Jenks said. 

 “We are committed to the City.  Chamblee’s accessibility with the MARTA Station, and its proximity to Buckhead, Perimeter Center and major highways, make it a great location to work.”

  
Parkside Partners is recognized as a leader in the development of boutique office buildings, adaptive re-use projects, and office condominium buildings.  Since its inception in 2003, Parkside has completed 15 developments totaling over 550,000 square feet of office space in the Atlanta area.

 For additional information on Parkside Partners, please visit http://www.parksidepartners.com/

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Contact:  Laura Dudebout, (678) 642-4301

ldudebout@wilbertnewsstrategies.com

Colliers International Recruits Warren Dahlstrom as President of Investment Services

SEATTLE, WA. /PRNewswire/ -- Colliers International announced today that it has taken a major step in the continued growth of its U.S. platform with the hiring of Warren Dahlstrom (top right photo) as president of its Investment Services Group. 

In addition to overseeing Colliers International's investment services group in the U.S., Dahlstrom will be charged with growing the organization through an aggressive business development strategy and key hires of top-tier brokers and other professionals. He is based in Washington, D.C.

"Warren is a unique professional," said Dylan Taylor (lower left photo), chief executive officer for Colliers International in the U.S.  "He has the ideal combination of experience with large and smaller firms, has spent time as an entrepreneur and embodies the kind of collaborative and client centric approach that makes him a perfect fit for Colliers International.

“The entire organization is looking forward to his immediate contribution to our strategic growth plan."

Dahlstrom has represented owners and investors of institutional commercial real estate since 1986 and has sold, financed or built property valued in excess of $6 billion across the office, retail, industrial, land, hotel and apartment sectors.

Most recently, Dahlstrom was the principal of his own firm, Dahlstrom Real Estate Advisors. 

Contact:: Richard Mulieri, Richard@themarino.org, or Parke Chapman, Parke@themarino.org, both of The Marino Organization, +1-212-889-0808

Web Site: http://www.colliers.com/

Jones Lang LaSalle Awarded Leasing of 1.1 Million SF Class A Office Building in Downtown Los Angeles

LOS ANGELES, CA, Feb. 24, 2011 – Jones Lang LaSalle has been awarded the leasing for Aon Center (top left photo) at 707 Wilshire, a 62-story, 1.1 million-square-foot, Class A office building in Downtown Los Angeles.

Leading the leasing efforts for the property are Jones Lang LaSalle Managing Director John McAniff, Vice President Tim Miller and Associate Marin Rutherford, along with Andy Fishburn of Means Knaus Partners.

“Jones Lang LaSalle was selected for this assignment because of our local market expertise and results-oriented leasing strategies,” said McAniff.  “707 Wilshire is Los Angeles’ second tallest building and one of the most recognizable skyscrapers on the West Coast.”

Jones Lang LaSalle was hired by the landlord, an affiliate of Beacon Capital Partners, which acquired the building in 2007.

Featuring world-class views, 707 Wilshire is located in the heart of Downtown Los Angeles’ Financial District. 

The property is within walking distance of the area’s premier restaurants, clubs, hotels, shopping, museums and city parks in urban Los Angeles.  707 Wilshire features 24-hour security, valet and on-site parking, two dining options with meeting rooms and a private auditorium. 

Currently, the property is home to several high-profile tenants including Aon Insurance Services and Wells Fargo.

Contact:  David Ebeling, Ebeling Communications, (p) 949.861.8351

(c) 949.278.7851, david@ebelingcomm.com

The Salvation Army Selects Jones Lang LaSalle to Manage Redevelopment of Herberger Social Service and Administration Campus in Phoenix

 PHOENIX, AZ — The Salvation Army has engaged Jones Lang LaSalle to provide real estate advisory and development management services for a new social service and administration campus (top left rendering).

The redevelopment, which will take place on The Salvation Army Herberger campus at 2707 E. Van Buren Street in Phoenix, will replace 160,000 square feet of failing space with two new buildings and a renovated warehouse.

The redevelopment also opens six acres at the southwest corner of 28th and Van Buren streets, within the Herberger campus, for new, like-minded development.

“The decision to rebuild was based on a full year of evaluation and planning with The Salvation Army and in close coordination with the City of Phoenix,” said Jim Sadler (middle left photo), Executive Vice President for Jones Lang LaSalle’s Phoenix office.

 “We developed a road map that local Salvation Army advisors and its board of directors can use to navigate significant financial and real estate decisions.”

The Herberger campus redevelopment will transform the aging property into an efficient campus, with the potential to reduce operating and maintenance budgets by as much as $1.1 million per year.

“The Herberger campus is a tremendous resource. Our priority is to remain good stewards of that resource,” said Lt. Colonel Doug Danielson (top  right photo), Southwest Divisional Commander for The Salvation Army in Phoenix. “This plan is the best way to take what we have and make it better for those we serve.”

Phase I of the redevelopment project runs from January 2011 to January 2012 and includes a 40,000-square-foot Divisional Headquarters and a 30,000-square-foot social services building at the site of the current Salvation Army property.

Phase II includes six acres of land at the southwest corner of 28th and Van Buren streets. Now on the market, this parcel is intended for development in early 2012 by a public/public or public/private partnership consistent with the mission of The Salvation Army.

“This is the best time in 20 years to implement a significant corporate campus plan,” said Sadler. “Land availability, construction costs and other financial incentives for corporate users are almost unprecedented.”

Stretching east from Downtown Phoenix, the Van Buren/Washington Street corridor runs alongside the Phoenix Light Rail and is part of the Discovery Triangle, a coordinated initiative fostering redevelopment in cross-city urban areas of Tempe and Phoenix.

Out of respect for the Herberger family and their dedication to The Salvation Army, the new campus will maintain the Herberger name.

Sadler leads the project with Jones Lang LaSalle Senior Vice President of Project and Development Services Chris Carrell (lower right photo)

Supporters can direct financial donations to the Phoenix social service project or their local Salvation Army location by visiting http://www.tsasw.org/.

Contact: Stacey Hershauer, focusAZ, Marketing & Public Relations

(480) 600-0195, http://www.focusaz.com/

Concord Hospitality Enterprises Breaks Ground on Cutting-edge LEED-design

WASHINGTON, PA, Feb.  24, 2010—Officials of Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced the company recently broke ground on the124-suite, LEED-design Courtyard by Marriott Washington Meadow hotel in Washington, Pa., a Pittsburgh suburb.

 The property is slated to open in early summer 2011.  Braun & Steidl Architects are the architects/designers, and McCay Contracting is the general contractor.

“We pioneered the first LEED-design Courtyard prototype in nearby Settlers Ridge, Pa., which opened last year and has been a tremendous success,” said Mark G. Laport (top right photo), president and CEO of Concord Hospitality.  “This project has the same characteristics. 

“We have added a number of new innovations to the LEED-design concept, which will save some 30 percent in related costs, enough to pay back the investment in approximately five years.”

LEED-design improvements include:

 ---More energy-efficient light fixtures and water-saving showers, lavatories and toilet fixtures

---Enhanced heat recovery energy system, which reclaims building exhaust air to pre-heat the building’s fresh air system

---More effective energy management system that further reduces unnecessary heating and cooling run times in unoccupied guest rooms

Located at 1800 Tanger Blvd. in Washington, Pa., the five-story Courtyard by Marriott is north of I-70 and I-79, near Tanger Outlets Mall.  The hotel features upgraded king guest suites that include a six-foot, walk-in shower with quarried Travertine stone.  The redesigned shower eliminates the need for shower doors.

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

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 Contact:  Chris Daly, Jerry Daly, Patrick Daly, (703) 435-6293, jerry@dalygray.com, chris@dalygray.com, patrick@dalygray.com

Crossman & Company Releases ICSC 2010 Florida Retail Report

ORLANDO, FL. --- Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, will be presenting the bi-annual ICSC Spring Florida Retail Report at the ICSC West Florida Idea Exchange on Feb. 24-25, 2011 in Tampa. 

Crossman & Company has produced the report on behalf of ICSC for the past 15 years, and includes contributions from over 45 separate companies throughout the state.

 “We have seen a return to stability in the market in the first half of 2010,” stated Justin Greider (top right photo), the primary author of the report.

 “In nearly every market of the state we have seen the freefall of rents and occupancy leveling off, indicating we may have found the bottom of the market, though significant challenges still remain for owners and retailers alike.”

The report notes that rental rates for the entire state average $14.27 for year-end 2010, down nearly 15% from the peak in the first quarter of 2008.  Occupancy has leveled off at 89%, a decrease of about 6% from its peak in 2006.

 “The outlook for the next 6-12 months is one of cautious optimism,” Greider added, “People throughout the state are very positive, but the recovery is going to be long and slow, and there is still a lot of over-valued product that has to work its way through the system.”

For a copy of the report, please contact:

Justin M Greider, Vice President – Director of Leasing, Crossman & Company, ICSC Southern Division NextGen Chair, 407-581-6225

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

Molly Delahunty, Crossman & Company, 407-581-6220 mdelahunty@crossmanco.com;

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