Daymark Realty Advisors Secures 16,000-SF Lease Renewal with Wells Fargo at Northstar Centre in Minneapolis

MINNEAPOLIS, MN (May 2, 2011) – Daymark Realty Advisors Inc., a leading provider of strategic asset management and structured finance services to owners of commercial real estate, today announced that it has secured a five-year, 16,203-square-foot lease renewal with Wells Fargo at Northstar Centre (top left photo) in Minneapolis.

Daymark Realty Advisors manages Northstar Centre, a two-tower office and retail facility bordered by Marquette Avenue and 2nd Avenue South, on behalf of individual investors.

Wells Fargo is an American multinational diversified financial services company with operations around the world. The company offers a range of financial services delineated into three divisions including community banking, wholesale banking, and wealth, brokerage and retirement. In 2010, Wells Fargo had 6,335 retail branches, 280,000 employees and more than 70 million customers.

“Wells Fargo currently occupies more than 520,000 square feet of space at Northstar Centre,” said Rick Burnett, executive vice president, Asset Management.

“With the current lease renewal, the property maintains a healthy occupancy rate of 93 percent, eight percentage points higher than the market average.”

Built in 1916 and 1962, Northstar Centre offers 715,000 square feet of office and retail space divided among two towers in the heart of the Minneapolis Central Business District.

The property features a granite and marble lobby, as well as the unique Sky Garden with impressive views enjoyed by both tenants and guests.

The buildings provide numerous amenities and feature 30 retail shops including jewelry, sporting goods, art, banking services, restaurants and a luxurious 222-room Crowne Plaza Hotel.

 Northstar Centre is conveniently located near major bus lines and freeways, and offers ample parking with a seven-story, 1000-space parking garage.

Northstar Centre offers direct access to the Minneapolis Skyway System, an enclosed network of climate-controlled walkways that connects numerous buildings in the downtown area.

With eight miles of glass tunnels linking 69 full city blocks, the Skyway System is the largest network of its kind in the world. Northstar Centre boasts the second-highest Skyway traffic count in the city, with more than 14,000 pedestrians daily.

Dick Keller of Cassidy Turley represented Daymark Realty Advisors in the transaction. Craig Kilpatrick of TaTonka Realty Advisors represented Wells Fargo.

For more information regarding Daymark, please visit http://www.daymarkrealtyadvisors.com/

Contact:  Damon Elder, delder@DaymarkRA.com

Thomas D. Wood & Co. Finds Financing for Two Florida Retail Centers

Orlando, FL, May 2, 2011— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,440,000 for Hunter’s Creek Commons and Creighton Commons.

Joe Dear (top right photo), Company Vice President, secured financing for Hunter’s Creek Commons through Thomas D. Wood and Company’s relationship with a national life insurance company in the amount of $1,000,000. 

The fully-amortizing loan has a term of 15 years, with an interest rate of 5.91%.  The loan-to-value is 50%.  The borrower wanted to refinance his current loan into a non-recourse, fixed-rate loan. 

The 8,400 square-foot retail center was built in 2000, and is home to major tenants Starbucks and Super Cuts.  Hunter’s Creek Commons is located at 13851 S. John Young Parkway, Orlando, Florida.

John Worrell (lower left photo), Company Assistant Vice President, secured financing for Creighton Commons through Thomas D. Wood and Company’s relationship with a local bank in the amount of $1,440,000. 

The bridge loan has a five-year term, based on a 20-year amortization and an interest rate of 5%.  The loan-to-value is 65% of stabilized value, and loan-to-cost is 80%.

 The borrower purchased the retail center at a discount, and needed a bridge loan to acquire the property and implement a leasing and management strategy in order to add value, and then sell or refinance with permanent debt.

 The 23,760 square-foot shadow-anchored retail center was built in 2003 and is home to major tenants Game Stop, Sally Beauty, and Citi Financial.  Creighton Commons is located at 2620 Creighton Road, Pensacola, Florida.

 For further information, please contact:

Joe Dear,  (407) 937-0470,  jdear@tdwood.com

John Worrell, (407) 937-0470,  jworrell@tdwood.com

Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com

 The website may be accessed through http://www.tdwood.com/

       

Celebration Golf Management names new food and beverage managers at Golden Bear and Eagle Creek Golf Clubs

CELEBRATION, FL. – Celebration Golf Management recently appointed new food and beverage managers at Golden Bear Club at Keene’s Point in Windermere and at Eagle Creek Golf Club in east Orlando.

 Gene Garrote, president of Celebration Golf Management, said he appointed Marc Holland food and beverage manager Golden Bear Club.

 Holland has more than 20 years of experience in the hospitality industry and was formerly affiliated with Reunion Golf Club.

 Garrote named Jennifer Capallo food and beverage manager at Eagle Creek Golf Club located on Narcoossee Road near Lake Nona in southeast Orlando. Capallo has more than 15 years of experience in the hospitality industry.

 Celebration Golf Management LLC owns Celebration Golf Club in Celebration; The Golden Bear in Windermere; Kings Ridge Golf Club and Legends Golf Club in Clermont and Stoneybrook West in Winter Garden. Celebration leases and operates Eagle Creek Golf Club in east Orlando.

For media information, contact:  

Gene Garrote, President, Celebration Golf Management, 407-566-1045;  

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

NAI Realvest Puts Hudson, FL Restaurant Property in Online Auction

ORLANDO, FL. --- Paul P. Partyka (top right photo), managing partner at NAI Realvest in Maitland, is going online to sell a 9,367 square foot restaurant building on a 2.8 acre site in Hudson to the highest bidder on May 11.

Partyka said the facility, located on S.R. 52 in Hudson between U.S. 19 and County Road 1, is well located on a busy thoroughfare, posts daily traffic counts that range between 30,000 and 63,000, surrounded by residential neighborhoods.

“It’s an excellent opportunity for development as a restaurant or for redevelopment with another use,” Partyka said.

Buyers of mid-range commercial facilities don’t often tour Hudson looking for opportunities.

“The online auction format offers us an excellent opportunity,” Partyka said. “We can present to a worldwide audience of potential bidders who are more interested in the facts---demographics, location, facility size, parking---than the general area,” he explained.

NAI Realvest designed a special web site for the auction at NAIauction.com/Hudson, and bids will be accepted online from 11 a.m. to 3 p.m. on May 11.

For more information, contact:

Paul P. Partyka Principal, Managing Partner, NAI Realvest, 407-875-9989 ppartyka@realvest.com;

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

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