Rene Circ Joins Grubb & Ellis as Vice President, National Director of Research, Industrial

SANTA ANA, CA (Jan. 27, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Rene Circ (top right photo) has joined the company as vice president, national director of research, Industrial. 

 Based in Chicago, he will responsible for leading the market research efforts for the company’s national Industrial Group as well as its industrial-focused practice groups. 

 “Rene has a strong track record of supporting asset management and investment strategies that result in higher portfolio profitability,” said Jack Van Berkel (middle left photo), president of Real Estate Services and chief operating officer, Grubb & Ellis Company.

 “Bringing him on board bolsters our professionals’ ability to provide clients with winning real estate strategies backed by solid market analysis.  His addition brings new strength and creativity to our market research platform.”

Circ’s addition enhances the company’s highly regarded national market analysis as well as its comprehensive proprietary local market research, conducted by more than 100 research professionals in Grubb & Ellis’ owned and affiliate offices. 

He reports to Bob Bach (lower right photo), senior vice president and chief economist.

Circ, 35, joins Grubb & Ellis from First Industrial Realty Trust, where he spent 11 years, the last five as research director. 

 During his tenure, Circ managed a team of five analysts and was instrumental in supporting investment strategies domestically and globally that resulted in transactions totaling in excess of $12 billion. 

Prior to joining First Industrial Realty Trust in 2000, Circ was a senior research analyst with Insignia/ESG since 1996.  He is a regular presenter at industry events and has been published in a number of trade publications and conference reports, including SITE Selection, mthink.com/ASCET, and SIOR Professional Report. 

Contact: Erin Mays, Phone: 312.698.6735

Email: erin.mays@grubb-ellis.com                

 

Stirling Sotheby’s International Realty Named Exclusive Sales, Marketing Agents for $525,000 Condominium in Southwest Orlando

 ORLANDO, FL. --- Stirling Sotheby’s International Realty was recently named exclusive sales and marketing agents for a $525,000 luxury condominium on the 10th floor at Bay View Reserve (top left photo), overlooking Spring Lake in southwest Orlando off Dr. Phillips Blvd. at Sand Lake Rd.

Roger Soderstrom, founder and owner at Stirling Sotheby’s International Realty, said the residence was recently professionally renovated with hardwood floors, custom European-style cabinets and granite countertops.

“The luxury condominium at Bay View Reserve features spacious rooms and large windows with dramatic views of Spring Lake, the downtown Orlando skyline and the fireworks at Disney World,” Soderstrom said.

The 2,650 square foot condominium offers two bedrooms, three full baths a study and a gourmet kitchen. 

Bay View Reserve condominium offers VIP owner services with 24 hour security, Soderstrom said, along with a community swimming pool, tennis courts and exercise room.

The property was listed by Carolyn Burgiel (middle right photo) and Daniel Natoli (lower left photo) of Stirling Sotheby’s International Realty’s LR Team.

To see photos of Bay View Reserve, visit http://www.stirlingsir.com/index.php?action=listingview&listingID=49287

For more information, contact

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890 

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

HFF closes sale of Ten West Corporate Center II in Houston’s Energy Corridor

 HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Ten West Corporate Center II (top left photo), a 250,260-square-foot, Class A office building in Houston’s Energy Corridor.

HFF senior managing directors Rusty Tamlyn (middle right photo) and Dan Miller (middle left photo) and associate director Trent Agnew led the investment sales team on behalf of the seller, Founders Properties, LLC.

ING Clarion Partners purchased the property on behalf of a commingled fund advised by the firm for an undisclosed amount free and clear of debt.

Ten West Corporate Center II is located at 17404 Katy Freeway (Interstate 10) on a 6.2-acre site within the Park Ten Office Park in west Houston. 

Completed in 2006, the property is fully leased to Mustang Engineering, a wholly owned subsidiary of the John Wood Group, LC.  Mustang and its affiliates now occupy more than one million square feet of office space in Park Ten Office Park.

Headquartered in Minneapolis, Founders Properties LLC is a privately-held company that provides a full range of acquisition, financing, asset management and investment services for high-net-worth investors.

Founded in 1982, ING Clarion Partners manages $21.5 billion in private real estate equity investments on behalf of both institutions and individuals.  Through both commingled fund and separate account formats, the Firm provides a wide range of investment options across the risk/return spectrum.

 More information is available at http://www.ingclarion.com/.

Contacts:  

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

Kristen Murphy, HFF Associate Director, Marketing (713) 852-3500

krmurphy@hfflp.com

Berger Commercial Realty Corp. Announces New Industrial Leases

 FORT LAUDERDALE, FL.– Keith Graves (top right photo)  and St. George Guardabassi (lower left photo) of Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced two new lease transactions.

 Graves and Guardabassi represented landlord Schaefer Industries in the lease of 17,040 square feet of industrial space in the Schaefer Industrial building, located at 3350 S.W. 13th Ave in Fort Lauderdale, to tenant Altaquip, LLC.

Graves and Guardabassi represented landlord Ideal Industries Properties, Ltd., in the lease of 3,000 square feet of industrial space  in the Ideal Industrial building, located at 1421 S.W. 10th Ave. in Pompano Beach, Fla., to tenant Royal Roofing Co., Inc.

Contact: Marielle Sologuren, Phone: (954) 776-1999, ext. 226, Fax: (954) 776-0290

msologuren@piersongrant.com

http://piersongrant.com/

HighImpactDigital.com

Marcus & Millichap Sells 16,700 SF Single-Tenant, Net-Leased Building in Ames, IA

 AMES, IA, Jan. 26, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of FedEx Shipping Center, a 16,700 Square-Foot Single-Tenant Net-Leased property located in Ames, IA, according to J.D. Parker (top right photo), Vice President and Regional Manager of the firm’s Manhattan office.

 The FedEx Shipping Center is located at 238 Alexander Avenue and the asset commanded a sales price of $950,555.

Thomas DeWaay  (middle left photo), CCIM, investment specialist in Marcus & Millichap’s Des Moines Office and Glen Kunofsky (lower right photo), investment specialist in the Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor.

 “The property is the type of investment that is currently in high demand- it has a strong credit tenant, is priced right around $1 million, and as a result was incredibly attractive to potential investors,” stated Kunofsky, Senior Vice President of Investments. 

Press Contact: J.D. Parker, Vice President and Regional Manager, Manhattan, (212) 430-5100

ING Clarion Partners Acquires Office Property in Falls Church, VA for $90 Million

NEW YORK, NY, Jan. 26, 2011 – ING Clarion Partners LLC, a leading real estate investment advisory firm, has acquired 3150 Fairview Park, a Class A, eight-story office building in Falls Church, Virginia for $90 million, it was announced today.

 The acquisition was made on behalf of a commingled fund managed by the firm.

The 252,000 square foot property is located in Fairview Park, Northern Virginia’s only trophy quality office park, at the intersection of I-495 and Route 50, just south of Tyson’s Corner.

(Fairview Park Drive, middle left photo)

It was completed in 2001 as a build-to-suit for Noblis Systems, a scientific and research systems engineering organization. Noblis is currently the building’s sole tenant with a lease that runs through January 2017.

The building features a conference center, childcare facility, and on-site parking in a three-level structured parking garage, among other amenities. The Park itself includes hotels and restaurants.

“The resilience of the local economy in the Northern Virginia – Washington, D.C. submarket has been demonstrated again through the most recent economic downturn,” said Marc DeLuca (top right photo), Director at ING Clarion.

“This resilience provides strong support for the area’s office market and is particularly important to outstanding properties like Fairview Park.”

Fairfax County is one of the nation’s wealthiest and fastest growing counties, fueled in part by the presence of multiple technology industries that provide diversification to a local economy in which the federal government plays a significant role.

These companies are in turn supported by access to the region’s large, highly skilled workforce and by the presence of research and other technology support firms, including venture capital.

Tenants within Fairview Park have excellent access to local transportation links, including Route 29, I-66, and the Dulles Toll Road in addition to I-495.

The property is within two miles of the Dunn-Loring Metro Station, 12 miles of Reagan National Airport (lower left photo), and 19 miles of Dulles International Airport (lower right photo).

Founded in 1982, ING Clarion Partners and its affiliates manage $39 billion in assets in the private and public equity sectors of the real estate markets.

 ING Clarion is the Americas arm of ING Real Estate Investment Management, one of the world's leading real estate investment managers with global assets under management of more than $89 billion and operations in 20 countries.

 ING Real Estate Investment Management is part of ING Group, a global financial institution offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries.

More information about the firm is available at http://www.ingclarion.com/.

Press Contacts:

Mike MacMillan/Chris Sullivan, MacMillan Communications (212) 473-4442, mike@macmillancom.com

Meghana Kulkarni, MacMillan Communications, (212) 473 – 4442

meghana@macmillancom.com

NAI Realvest Negotiates New Lease for 9,675 SFt, increasing occupancy to 100 Percent at Winter Park Commerce Center

 ORLANDO, FL – NAI Realvest recently completed a lease agreement for 9,675 square feet of office/industrial space at Winter Park Commerce Center near downtown Winter Park, FL. 

Michael Heidrich (top right photo), principal at NAI Realvest negotiated the transaction representing the landlord, Winter Park-based WFI. 

 Jack Lynch (lower left photo), senior associate at NAI Realvest represented the new tenant Hype Marketing d/b/a Fulfillment Experts, Inc., who leased units 913, 915 and 937 N. Pennsylvania Ave., and increased the occupancy to 100 percent at Winter Park Commerce Center.

For more information, contact:  

Jack Lynch, NAI Realvest 407-875-9989 or jlynch@realvest.com

Michael Heidrich, NAI Realvest 407-875-9989 or mheidrich@realvest.com

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

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

   

The Emmes Group of Companies Completes 11,310-SF Lease at High-Rise Office Tower in Irvine, CA

 IRVINE, CA, JAN. 25, 2011 – The EMMES Group of Companies, a privately-owned real estate investment company, has completed a 10-year lease with Systems Source for 11,310 square feet of space at The Michelson (top left photo), a landmark 533,000-square-foot high rise office tower located at 3161 Michelson in Irvine, Calif. 

The new space will be used as the company’s corporate headquarters.

Steve Card of Travers Realty represented Systems Source. The EMMES Group of Companies represented itself in the transaction.

“This lease an example of the increasing demand we are seeing for high quality office space in Orange County,” said EMMES Managing Director Robert Shibuya (middle right photo).  “We continue to see interest from prospective tenants seeking to secure long term facilities requirements in premier office tower buildings like The Michelson.”

Located in the heart of Orange County at the southeast corner of Jamboree Road and the 405 Freeway, The Michelson is a 19-story tower offering panoramic views of the Pacific Ocean, San Gabriel Mountains and Orange County skyline, and is currently more than 80 percent leased to several high profile tenants including Hyundai Capital America, Bryan Cave, Gibson Dunn, Greenberg Traurig and Jones Day. 

Since 1992, The EMMES Group of Companies on behalf of its affiliated entities, capital partners and investors, has acquired and managed more than 35 million square feet of retail, office, industrial and multifamily property types. The company's current portfolio includes encompasses nearly 10 million square feet located in 19 states.

Learn more at http://www.emmesco.com/

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

New Faces at Grubb & Ellis

Lynda Gallagher Joins Grubb & Ellis Landauer Valuation Advisory Services as Senior Managing Director, Midwest

 CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Lynda Gallagher (top right photo) has joined Grubb & Ellis Landauer Valuation Advisory Services as senior managing director, Midwest.

 In this role, Gallagher is responsible for the firm’s business development and expansion throughout the Midwest, including Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.  In addition, she will direct recruiting and oversee the local managing directors within the region.

“Lynda is known in our industry as someone who is strategic and proactive in serving her clients, and she shares our commitment to delivering insight that helps clients make better decisions about their real estate throughout the ownership cycle,” said Doug Haney, president, Grubb & Ellis Landauer Valuation Advisory Services.  “I couldn’t be more pleased that Lynda has joined us to build our presence in the Midwest.”

 With more than 20 years in the appraisal and valuation business, Gallagher joined Grubb & Ellis from CB Richard Ellis where she was vice president,

The company is looking for experienced appraisal professionals throughout the country.  To learn about career opportunities and apply for a position, visit www.grubb-ellis.com/joinlandauer

Contact: Erin Mays, Phone: 312.698.6735.

Email:  erin.mays@grubb-ellis.com

               

 Robert Cook  Hired as Senior Vice President, Corporate Services in San Jose Office

 SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm announced that Robert Cook (middle left photo) has joined the company as senior vice president, Corporate Services, based in the company’s San Jose office. 

 A 30-year industry veteran, Cook brings extensive corporate real estate finance experience to Grubb & Ellis. 

 He will lead the suite of services designed to help corporate real estate departments respond to the Financial Accounting Standards Board’s pending lease accounting changes, which are expected to have far-ranging implications for companies and how they manage their real estate portfolios.

 In addition, Cook will expand the company’s Corporate Services relationships throughout the San Francisco Bay Area.

 “As a veteran corporate real estate professional, Bob brings a wealth of corporate real estate and workplace strategies experience.  His addition reinforces Grubb & Ellis’ commitment to knowledge leadership in the corporate sector,” said David Susoreny, executive vice president, Corporate Services. 

 “Bob’s unique background and recognized expertise in FASB transformation provides him a unique ability to impact our client segment quickly with value additive programs.”

 “Bob’s extensive experience and deep skill set brings even more corporate knowledge to our clients in the Silicon Valley and Northern California,” said Dick Scott, managing director of Grubb & Ellis’ San Jose office.  “We could not be more pleased to have him on board.”

 Contact: Julia McCartney, Phone: 714.975.2230,

Email: julia.mccartney@grubb-ellis.com

          

Marcus & Millichap Sells 7,056-SF, Single-Tenant, Net-Leased Building in Tampa, FL for $1.6 Million

    

TAMPA, FL, Jan. 25, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Davita Dialysis (top left photo), a 7,056-square foot single-tenant net-leased property located in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

 The asset commanded a sales price of $1,615,000.

The buyer, a limited liability company, was secured and represented by Benjamin Berry (middle right photo)  and Michael J. Jaworski, (lower right photo)  investment specialists in Marcus & Millichap’s Tampa office. 

Davita Dialysis is located at 11306 North 53rd Street.  

“Davita Dialysis is one of the more sought-after medical tenants in the net-lease world,” says Jaworski.  The tenant recently renovated at this location and they should be there for a long time,” adds Jaworski.

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

Cambridge Provides $2.16 Million HUD Lean Loan to Refinance Hillsboro Rehabilitation and Health care Center in Illinois

 CHICAGO, IL--Cambridge Realty Capital Companies reports closing on a $2.16 million FHA-insured HUD LEAN loan that refinanced the Hillsboro Rehabilitation and Health Care Center (top left photo), a 107-bed skilled nursing facility in Hillsboro, Ill.

Cambridge Chairman Jeffrey A. Davis said the fully amortized, 26-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois for the owner, a Missouri limited liability company. The interest rate was not disclosed.

Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com

Atlanta|Pacific Companies Hires Pilar Puente and Promotes Lorena Petry and Laura Nadel

  

 MIAMI, FL – Atlantic | Pacific Companies (A | P), a fourth generation real estate company, is pleased to announce the addition of Pilar Puente to the team and two new promoted positions for Lorena Petry and Laura Nadel.

 Pilar Puente is now the Property Manager at Atlantic | Pacific Management’s (APM) Valencia at Doral Park property. Before joining APM, Pilar was the Property Manager at locations including Present Parc Central Condominiums and Mirador 1200 Condominiums.

 Lorena Petry started as an Assistant Manager at APM’s Wind Condominium and has now been promoted as Manager for Valencia at Doral Park. Laura Nadel was most recently at the Caribbean before being promoted to the Manager position at Bentley Bay.

Randy Weisburd (top right photo), A | P’s Chief Operating Officer, says “In today’s uncertain economic climate, APM continues to foster best practices by providing a clear path towards career enhancement.

“Lorena and Laura’s promotions are a testament to APM’s focused training and unparalleled corporate support in helping our associates reach their career goals.”

For more information, please contact:

Randy Weisburd at rweisburd@apmanagement.net

Jessica Wade Pfeffer / Jessica Wade Inc., 305.804.8424, Jessica@jessicawadeinc.com

 and visit http://www.apmanagement.net/

Plaza Advisors Announces Sale of The Shops at Verandah in Fort Myers, FL

TAMPA, FL--Plaza Advisors is pleased to announce the sale of the Shops at Verandah (top left photo) in Fort Myers, Florida.

The shopping center is situated at the intersection of Palm Beach Boulevard (SR 80) and SR 31 and totals 72,795 square feet of gross leasable area.

The grocery anchored asset features Publix, Beef ‘O’ Brady’s, Pinch a Penny, Allstate, H&R Block, and separately owned freestanding; Regions Bank, Exxon Mobil, and Wachovia/Wells Fargo.

 The asset was constructed in 2006. The property was 92% leased at the time of sale.

 Plaza Advisors represented the buyer in the transaction and co-managing partners Jim Michalak (top right photo)  and Anthony Blanco (middle left photo), together with Senior Financial Analyst, Lenard Williams (lower right photo)  were involved in the engagement. The seller was not represented by a broker.

The seller and buyer were The Shops at Verandah, Ltd. and CR South, respectively. 

The sale of the Shops at Verandah marks the third Publix anchored center sold by Plaza Advisors over the past four months and the eighth retail transaction in 2010.

Contacts:

Jim Michalak, Tampa Office, 813-837-1300, Fax: 813-831-2627

Jim.michalak@plazadvisors.com

 Anthony Blanco, Miami Office: Fax: 305-647-6441, 305-629-3606,                                                                                                                           

Anthony.blanco@plazadvisors.com

Turning Your Leased Industrial Facilities into a Profit Center

By George Livingston (top right photo) and Christie Alexander (top left photo)

 Ed. Note: George Livingston is founder and chairman of NAI Realvest, based in Maitland, one of the most active commercial real estate brokerage firms in Central Florida. He is a principal of CommerCenters, LLC, which ranks as one of the region’s largest developers of industrial facilities.

 According to current economic indicators---and most economists--- U.S. business and industry will likely show measurable signs of improvement in 2011. That means the window is narrowing on the opportunity for industrial firms to recognize significantly improved revenue from their leased facilities.

That may seem counter-intuitive at first. But the current economic cycle is rife with opportunity for successful enterprises with positive credit history. Your landlord is loath to admit it, but the fact is, your company---more specifically your leasehold obligation---is one of your landlord’s principal assets right now.

 Nationwide, commercial properties---including the facilities you occupy now---have decreased in value as a result of the real estate decline and the accompanying recession. With regional and local market vagaries, all properties have suffered. As undercapitalized companies downsized or folded, vacancies spiked and rents from remaining tenants have not made up the difference.

That means the capital value of your monthly rent payment---the relative proportion of your landlord’s mortgage payment or ROI covered by your payment---is substantially greater than the numerical dollar value. Your landlord and your landlord’s lender are both eminently aware of this.

 To the extent that you can turn that value differential into cash---or concessions---you can improve your company’s cash position.

 But beware the window is closing. As the economy improves and more companies expand, the value differential will evaporate.

 If your lease is due for renewal this year, current market conditions are even more favorable. Landlords will agree to substantial concessions to retain a good tenant. Even if your lease is not due for renewal soon, negotiate now and offer to extend the term.

A reputable offer of terms and conditions from a new landlord will inevitably lead to stronger concessions from your current landlord.

 From your current landlord’s perspective, the only meaningful differential is an estimate of your relocation costs versus his cost to lease the space to a new tenant.

Well-informed---and well-represented---tenants are cutting very good deals now with pragmatic landlords, fixing advantageous rates, lengthening lease terms and negotiating improvements and upgrades.

 In the current market cycle, most companies will benefit from lease negotiations conducted with the expertise of a good tenant representative. Almost every commercial property firm today retains associates whose specialty is representing the interests of tenants.

 Such specialists have the capacity to research properties, landlords and local market conditions, and know which concessions are most reasonable.

 They also know the conditions landlords face. A newly built industrial property may have minimum lease requirements imposed by lenders, and thus might be more flexible granting improvements or upgrades than lower lease rates.

 Landlords of older properties may be in a better position to wait out the recovery and thus be less inclined to negotiate generous concessions of any sort. A good tenant representative will know the inside story.

 The end result is the same. Time is of the essence. Act now and you can lock in rates and terms that fit your business plan and substantially improve your bottom line.

Contact: Larry Vershel or Beth Payan, http://www.lvershelco.com/

Crossbeam Capital and Concierge Asset Management Merge

 BETHESDA, MD. Jan. 24, 2011- Crossbeam Capital LLC, an institutional real estate investment fund manager, has merged with Concierge Asset Management, LLC, a 40-year-old Houston-based investor, redeveloper and manager of apartment communities. 

The combined company, Crossbeam Holdings, LLC, will focus on acquiring multifamily communities throughout the U.S. and redeveloping them to institutional quality. The merger formalizes a partnership established in 2010 which acquired seven multifamily communities including closing five properties in December alone.

“Crossbeam Capital and Concierge Asset Management were two successful, independently-run companies,” says Richard K. Devaney (top right photo), formerly a principal and chief investment officer of Crossbeam Capital and now chairman and chief executive officer of the new company.

 “We were profitable and generating consistent returns for our investors.  However, as we began working on acquisitions together, we recognized how compatible our two organizations were.”

Maxwell Drever (middle left photo), founder-chairman of Concierge Asset Management who becomes chairman emeritus of Crossbeam Holdings, agreed the new company “has an extraordinary combined track record in creating real value for investors but it has also delivered reliable and sound solutions for sellers, lenders and brokers.

“In decades of property acquisition and transformation, we’ve had the priceless ingredient of ‘trial and error’ and refined an expertise in recognizing value buys and cost-effectively redeveloping the apartment communities.” says Drever.

 “In partnering on seven deals last year with Rich Devaney and the Crossbeam team, I realized a merger could give us the financial leverage and additional acquisition talent to move quicker in identifying and closing on multifamily properties that are a fit for our signature redevelopment strategy.”

The management team of Crossbeam Holdings is led by Devaney as chairman and CEO. Prior to co-founding Crossbeam Capital, he was national vice president for Equity and Mezzanine Debt at Fannie Mae in Washington D.C.

 Ted Kerr (middle right photo), chief executive of Concierge Asset Management, is now president of Concierge Holdings. Kerr had been director of asset management of Drever Partners, which owned 18,000 apartment units when Maxwell Drever sold it in 1997 to Walden Residential, a Dallas-based, NYSE-listed REIT.

W. Bradford Blash (lower left photo), chief acquisitions officer of Crossbeam Capital, is chief business officer of the merged company. Before co-founding Crossbeam, he was director of Equity at Fannie Mae in Washington, DC.

Combined, Crossbeam Holdings has $630 million in real estate assets under management, a portfolio of 29 multi-family properties with 9,045 rental residences primarily managed primarily by its 165 person property management subsidiary, Concierge Management Services.

In addition to the seven properties bought and closed last year, Drever says Crossbeam Holdings is starting 2011 by working to acquire three apartment communities where prospective buyers of each failed to meet the sellers’ year-end deadline.

“Our niche,” he added, “is that we have the capital, ability and agility to move quickly, step in and solve problems for almost any seller or lender with a multifamily property and/or their non-performing loans.”

Contact: 

Chris Barnett, 415-336-5092; cbarn@aol.com

Jennifer Farthing, 240-223-1679, jfarthing@crossbeamcapital.com

 for Crossbeam Holdings.

Leslie Gordon, 415-789-1773, leslie@drever.net for Maxwell Drever                 

Stan Johnson Co. Completes Sale of GSA/Dept. of Veterans Affairs Building in Lufkin, TX

LUFKIN, TX –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 37,000-square-foot medical outpatient clinic building 100 percent occupied by GSA/Department of Veterans Affairs to Pomona, NY-based RJ Block Properties, LLC.

The property is situated on seven acres at 2216 N. John Redditt Dr., in Lufkin, Texas. 

Brett Butler (top right photo) of Stan Johnson Company represented both the buyer and the seller, Lufkin-based LD Lyndon Properties, LLC.

Built in 2009, the property has a long-term, 20-year modified gross lease with the GSA/Department of Veterans Affairs.

“With our proactive marketing campaign to brokers and investors, we were able to secure 10 competitive offers,” said Butler.

 Sale Completed of 335,700-square-foot Industrial Building Occupied by the Hillman Group in Forest Park, OH

 FOREST PARK, OH –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 335,700-square-foot industrial building100 percent occupied by The Hillman Group, a distributor of fasteners, keys, letters, numbers, signs, and engraving, to New York, NY-based Angelo Gordon & Co..

 Built in 2004 the property is situated on 21 acres at 1700 Carillon Blvd. in Forest Park, Ohio.

Craig Tomlinson (middle right photo), CCIM, of Stan Johnson Company represented the buyer as well as the seller, Cincinnati United Contractors, Inc., in the transaction.

“The main challenge of this transaction was recasting the existing lease to add term and bringing it into conformance with institutional ownership standards,” said Tomlinson.

 “In that sense, it was really a three-way negotiation with buyer, seller and tenant.  The buyer is getting a very high quality asset with a tenant that leads its industry.  The seller receiveda strong price and is able to redeploy his equity.”

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851

david@ebelingcomm.com