NAI Realvest Negotiates $215,000 Sale of One+ Acre Industrial Site in Orlando

ORLANDO, Fla. – NAI Realvest recently negotiated the sale of a 1.08 acre industrial site located at 1265 Spruce Avenue  off Orange Avenue (CR 527) and the Beachline Expressway (SR 528) in Orlando.

George Viele, (top right photo)  associate at the firm, negotiated the transaction representing the seller, CVM 1 REO, LLC of Fairport, NY. Orlando investor Imran Shahid purchased the property for $215,000.

For more information, contact:

George Viele, Associate, NAI Realvest 407-875-9989 gviele@realvest.com 

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

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

NAI Realvest Negotiates Two New Industrial Lease Agreements totaling 8,000 square feet+ in Winter Springs and Orlando

MAITLAND – NAI Realvest recently negotiated two new lease agreements for industrial space totaling 8,040 square feet in Winter Springs and Orlando.

Michael Heidrich (top right photo), principal at NAI Realvest, negotiated a lease for 6,000 square feet of industrial space at Oak Lane Business Center in Winter Springs representing the landlord Donald R. Collins and the Timothy H. David Trust and Holly C. David Trust.    

 Tenant Blue Moon Services LLC d/b/a Control Freak Suspensions, a local custom hotrod and suspension shop, leased

suite 1031

at

1101 Oak Lane

at the center and was represented by David Murphy of CB Richard Ellis.

Associate Sean DuPree CCIM represented Integrated Excellence, LLC of Norcross Ga. who leased 2,040 square feet at

9500 Satellite Blvd.

in southwest Orlando’s Cypress Park. The landlord,

9500 Satellite Blvd

LLC was represented by Wilson McDowell and Matt Sullivan of Colliers Arnold.

For more information, contact:  

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

Sean DuPree, CCIM Associate, NAI Realvest 407-875-9989, sdupree@realvest.com;  

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

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

Thru-Way Fleet Care Leases 5,400 Square Feet+ at the Airport Commerce Center at Orlando Sanford International Airport

SANFORD - Thru-Way Fleet Care, Inc. has leased 5,460 square feet of industrial space at the Airport Commerce Center (top left photo) at Orlando Sanford International Airport.

Diane Crews, vice president of administration at Orlando Sanford International Airport, said Thru-Way Fleet Care will operate an equipment maintenance and repair facility at the Airport Commerce Center.

For more information,  contact:  

Diane Crews, VP of Administration, Sanford Airport Authority, 407-585-4021;  

Larry Dale, President, Sanford Airport Authority; 407-585-4002;  

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

HFF closes $3.6 million sale of The Atrium in Naperville, IL

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of The Atrium (top left photo), an office building in Naperville, Illinois.

HFF managing directors Jaime Fink and Jeffrey Bramson )and director Kenneth Glomb led the investment sales team on behalf of the seller, a subsidiary of Prime Group Realty Trust.  Farbman Acquisitions, LLC purchased the property for $3.6 million free and clear of debt.

The Atrium is located at 280 Shuman Blvd., close to Interstate 88 in Naperville.  The two-story property has 69,077 square feet of space.

Contacts:                

Jaime M. Fink,  HFF Managing Director,  (312) 528-3650, jfink@hfflp.com

Jeffrey M. Bramson, HFF Managing Director,  (312) 528-3650, jbramson@hfflp.com

Kenneth J. Glomb, HFF Director, (312) 529-3650, kglomb@hfflp.com

    

HFF arranges $8.5 million refinancing for Riverview Business Park in Malden, MA

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged an $8.5 million refinancing for Riverview Business Park, (top left photo)  a 90,000-square-foot office building in Malden, Massachusetts.

Working exclusively on behalf of Combined Properties, HFF directors Janet Krolman (middle right photo)  and Greg LaBine (middle left photo)  placed the seven year, fixed-rate loan with Aetna Life Insurance Company.  The loan is refinancing a maturing loan with another life insurance company.

Riverview Business Park is situated on a 6.2-acre site at

300 Commercial Street

in downtown Malden, approximately five miles north of Boston.  The property is fully leased to three tenants: Comcast Communications, Mystic Valley Elder Services and Combined Properties.

Combined Properties is a full-service real estate investment and development firm specializing in high-quality office, R&D, industrial and retail properties in the northern suburbs of Boston.

Contacts:                           JANET N. KROLMAN                               KRISTEN M. MURPHY

                                            HFF Director                                                 HFF Associate Director, Marketing

                                            (617) 338-0990                                               (713) 852-3500

                                            jkrolman@hfflp.com                                    krmurphy@hfflp.com

HFF closes $19.34 million sale of Pablo Plaza in Jacksonville Beach, FL

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Pablo Plaza (top left photo), a 151,660-square-foot retail community center in Jacksonville Beach, Florida.

HFF managing director Brad Peterson  (middle right photo) marketed the property on behalf of the seller, Phillips Edison & Company.  Equity One, Inc. purchased Pablo Plaza for $19.34 million and assumed an existing CMBS loan.

Pablo Plaza is situated on a 12.2-acre site at

1822 3^rd Street South

(A1A) in the beaches area of Jacksonville, which is home to the Ponte Vedra Inn & Club and TPC Sawgrass.  Renovated in 2008, the property is 93% leased to tenants including HomeGoods, Marshalls, Office Depot and Panera Bread.

“Pablo Plaza attracted a significant level of interest from the investment community because of the high-quality anchor tenants and the outstanding demographics and barriers to entry surrounding the property.  Assets of this caliber rarely come to market,” said Peterson.

Phillips Edison & Company owns and manages more than 26 million square feet of neighborhood shopping centers across the country. Phillips Edison & Company specializes in the acquisition, redevelopment, leasing, and management of anchored neighborhood and community shopping centers.

The company owns and manages 240 properties, totaling over 26 million square feet in 35 states. The privately owned, fully integrated real estate company has corporate offices in Cincinnati and Salt Lake City, as well as regional offices across the country.

Equity One is a fully integrated real estate investment trust specializing in the acquisition, asset management, development and redevelopment of quality retail properties located in strategic metropolitan areas across the United States.

These centers are anchored by leading supermarkets, pharmacies and retail store chains.  As of June 30, 2010, Equity One owned or had interests in 185 properties, consisting of 171 shopping centers comprising approximately 19.2 million square feet, three projects in development/redevelopment, six non-retail properties, and five parcels of land. Additionally, Equity One had joint venture interests in twelve shopping centers and one office building totaling approximately 1.9 million square feet.

Contacts:        

 Brad Peterson, Hff Managing Director, (305) 448-1333, bpeterson@hfflp.com

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

          

Marcus & Millichap Sells 117,155-SF Self-Storage Facility in New Orleans, LA

   NEW ORLEANS, LA, September 16, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sure Save USA Self-Storage (top left photo), an 117,155-square foot self-storage facility located in New Orleans, LA, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,400,000.

Michael A. Mele, (middle right photo) Vice President Investments and Senior Director of the National Self-Storage Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution based out of Ohio and the buyer, a California-based REIT.  William Hoffpauir, Broker, assisted in closing this transaction.

Sure Save USA Self-Storage consists of 736 units, 640 of which are climate-controlled.  The property was built in 2005 and completed in 2006.  It is positioned with 1,529 feet of frontage on three surrounding roads and located less than a mile from Interstate 10.  Amenities include elevators, digital surveillance cameras, roll-up doors, RV parking and a manager’s office.

“Despite the bad publicity, we think New Orleans is coming back strong.  I think the buyers will do very well with this property” says Mele.

Press Contact: Bryn D. Merrey

Regional Manager, Tampa

(813) 387-4700

Susan Sampson
Marketing Coordinator/Brokerage Administrator
Marcus & Millichap 7650 Courtney Campbell CausewaySuite 920 Tampa, FL 33607 (813) 387-4700 main (813) 387-4710 fax susan.sampson@marcusmillichap.com
Follow us at http://www.Twitter.com/mmreis

Emerson International leases 20,000 square feet of office space at CenterPointe I in Altamonte Springs, FL

ALTAMONTE SPRINGS, Fla. – Emerson International recently negotiated a five-year lease agreement with North American Risk Services for 20,000 square feet of Class A office space at CenterPointe I (top left photo)overlooking Crane’s Roost in Altamonte Springs. 

Eric Emerson (lower right photo), general manager and vice president of Emerson International, said Kenneth Koch, commercial portfolio manager negotiated the lease for the landlord. 

Chris Sproles of CB Richard Ellis represented the tenant, North American Risk Services, which is currently based in Maitland.

“We are pleased to have North American Risk Services join the CenterPointe I tenant roster, including Alcatel Lucent, Crump Insurance and Embry-Riddle Aeronautical University,” said Emerson.

For more information, contact

Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;

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

About Emerson International

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies in the U.K. 

Orlando Sanford International Airport on Track with New Aircraft Maintenance Facilities for Avocet

SANFORD, Fla. --- Construction of the new 53,351 square foot aircraft maintenance facility for Avocet Capital, LLC is on schedule at Orlando Sanford International Airport (top left photo).

Diane Crews, vice president of administration at Orlando Sanford International Airport, said block work is done and the steel framing for the hangar is 75 percent complete.

When it opens in January, the $5 million Avocet facility will include 44,000 square feet of hangar space with 4,000 square feet of maintenance shop and 5,351 square feet of administrative office space.

The Avocet building is located on

Hellcat Lane north

of the main runway, Rwy89L-27R at Orlando Sanford International Airport.

For more information, please contact:

Diane Crews, VP of Administration, Sanford Airport Authority, 407-585-4010

Larry Dale, President, Sanford Airport Authority; 407-585-4002

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

Westin Hotels & Resorts Expands Its Footprint in India

NEW DELHI, INDIA (Sept. 16, 2010) – Westin Hotels and Resorts announced today that The Westin Gurgaon (top left photo), New Delhi will open in October 2010. 

The Westin Gurgaon will be the fifth Westin property in India, a key geographic region of Starwood Hotels & Resorts’ (Westin’s parent company) expansion efforts. 

The hotel giant recently introduced the Westin brand in India and now operates four hotels:  The Westin Mumbai Garden City, The Westin Pune Koregaon Park, The Westin Hyderabad Mindspace, and The Westin Sohna Resort & Spa.  The opening of the new Westin in Gurgaon will further strengthen the Westin brand’s presence and meeting capabilities in India. 

“India plays an integral role in the expansion of the Westin brand, and Gurgaon is an important emerging economic hub for India,” said Don Elliot, Regional Vice President of Starwood Hotels & Resorts, India, Bangladesh and the Maldives. 

 “The downtown location of this Westin hotel, along with the refreshing Westin guest experiences and programs that it will offer, will make it a perfect venue for leisure and business,” added Elliot

Situated in the heart of downtown’s commercial offices, convention centers, dining and shopping, and near New Delhi International Airport (middle right photo), The Westin Gurgaon, New Delhi (www.westin.com/gurgaon) is a calming oasis where distinguished Indian hospitality will renew and refine the senses. 

(New Delhi skyline lower left photo)

 The hotel features 313 spacious and thoughtfully appointed guest rooms and suites, 1,360 square meters of indoor meeting space, including a ballroom with the highest ceiling in the region, 820 square meters of garden space as well as six meeting rooms with natural light.

The Westin Gurgaon, New Delhi offers guests access to ultimate pampering at the Heavenly Spa by Westin™, as well as to the WestinWORKOUT® Gym where they can recharge.

 For more information, please visit http://www.westin.com/.

Media contacts:  Hwee Peng Yeo or Colleen Gallagher at Glodow Nead Communications, (415) 394-6500 or hweepeng@glodownead.com

InformationWeek Ranks Marcus & Millichap Among Top 100 Companies in the U.S.

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has ranked No. 62 in InformationWeek magazine’s annual survey of firms offering innovative technology programs.

 This is the fifth consecutive year that Marcus & Millichap has earned a spot in the InfoWeek 500 ranking, and the first time it has appeared in the top 100 for its technology programs, which serve more than 1,200 commercial real estate agents and their private and institutional investor clients nationwide.

 Marcus & Millichap also secured a spot as the highest-ranking real estate services firm in this year’s survey.

“Marcus & Millichap has repeatedly been recognized for its pioneering technology platform, which has revolutionized the real estate brokerage industry,” says Richard Peltz (top right photo), senior vice president and chief information officer. “Our Information Services Department has dedicated all of its tools and resources to better serving our clients and supporting our investment professionals.

“It is an honor to once again be included in this ranking by InformationWeek,” adds Peltz. “Earning a place among the nation’s elite technology firms for the past five years demonstrates our commitment to developing and implementing innovative technology that has significantly improved the way the real estate investment community conducts business.”  

            InformationWeek recognized several new programs implemented by Marcus & Millichap, including a  property search program that offers more than 3.3 million properties for its agents to search for listings, new inventory, comparables and closed transactions; an extensive mapping program for its proprietary property database system, MNet; an initiative that brought together internal and external data to improve analytics on sales, rents, occupancies, pricing and other factors; and its Market Feedback Report, which provides real-time information to agents about their property listings.  

Two of the firm’s green initiatives were cited: Liaison, which is a secured Internet-collaborative environment for sharing documents related to a real estate transaction; agent profile pages that give an electronic snapshot of each agent online to both build their individual brands and bolster the firm’s overall brand; and MarketShare analytics, a system for management to analyze the status of agents in the market and assist them in strategizing for success.

Marcus & Millichap was also recognized for its success in rolling out new technology to create a new division in the company – Institutional Property Advisors (IPA), a specialty group that focuses exclusively on institutional multifamily transactions of $20 million and above.

 The technological improvements included creating new marketing templates for these high-profile properties. In addition, the firm’s new CRM system is now integrated with the IPA website to provide instant updates on client interaction, including preferences, property interests, assignments and relationship status.

Press Contact: Stacey Corso

Communications Department

(925) 953-1716

Colliers International Directs Office Sales Totaling $4.1 Million in Agoura Hills, Calif.

Agoura Hills, Calif., Sept. 16, 2010 – Colliers International, the second largest real estate services organization globally, has directed the sale of two office buildings totaling 24,838 square feet in Agoura Hills, Calif., for a combined $4.1 million.

In the first transaction, Agoura Hills-based Aspen Environmental Group, an environmental consulting firm, purchased a 14,000-square-foot office building located at 5020 Chesebro Rd., (top left photo) Bldg. 8 in Agoura Hills for $2.3 million.

Jeff Albee, (top right photo)  senior vice president, and Jeff Gould (middle left photo), senior associate, both in Colliers’ Encino office, represented the buyer in the transaction. The seller WA Real Estate LLC, was represented by Andrew Harper and Michael Ross of Grubb & Ellis. 

“The property was recently foreclosed on and bank owned at the time of sale. Qualified buyers can find some great opportunities in today’s market,” said Albee.

In the second transaction, Woodlands Hills, Calif.-based Global Marketing Partners, a distributor and incubator of emerging technology vendors, purchased a 10,838-square-foot office building located at 28038 Dorothy Dr. in Agoura Hills for $1.8 million.

Albee and Gould, along with Chris Itule (lower right photo), senior associate in Colliers’ Encino office, represented the seller, Robert Meyerson Co. Trust, in the transaction. The buyer was represented by Rick Dearson of Cresa Partners.

“Our marketing efforts generated multiple offers for this property, resulting in a sale price of $166 per square foot,” said Gould.

A key driver for the buyers of both properties was the available financing from the Small Business Administration (SBA), according to Gould. Each of the buyers secured 90 percent financing with low interest rates from the SBA.

Megan Morales

Marketing & PR Coordinator

949 724 5537

megan.morales@colliers.com

The Sustainable City---It’s Not Utopia, but It Could Be One Day!

ORLANDO, Fla. --- For more than twenty years, Orlando economist David Marks (top right photo)  has studied the evolution of towns and cities in the U.S. and Europe. As a president of Marketplace Advisors, Inc., and community development consultant, Marks uses what he has learned to help create sustainable town centers in new communities and urban redevelopment projects.

But Marks is thinking beyond town centers. He’s writing a book to teach planners and elected officials how to create better urban communities. And he wants to expand the definition of “sustainable.”

“Typically, we use the term ‘sustainable’ to refer to energy usage. But successful communities provide residents a lot more than efficient allocation of resources,” Marks said.

(Park Avenue, Winter Park, FL, middle left photo)

The sustainable community meets three fundamental challenges, Marks said.

“It helps bring young people to maturity. It helps integrate them into the society in which they will live as adults. And it helps orient them into the greater environment,” he explained.

It’s not coincidental that those same three challenges constitute the dominant goals of religion and family life, and should drive domestic policy, Marks said.

“Today we can analyze the attributes that constitute a sustainable urban environment,” Marks explained. “We can plan them and build them. We can create sustainable urban communities based on what we have found in historically sustainable urban centers,” he said.

Size, for example. “Sustainable communities in our society should encompass 100,000 to 150,000 people,” Marks said. “With that population, economics of scale permit valuable amenities that enrich the human experience, from healthcare centers to movie theaters, parks and recreational spaces,” he said.

Density is another target. “Population density is a major key to a successful, sustainable urban environment,” Marks said.

 

(Prague skyline middle right photo)

“Ideal density is great enough to accommodate social interaction without extensive use of personal automobiles,” Marks said. “That doesn’t mean we have to give up our cars, but in the best communities there are convenient alternatives to reach the supermarket or the theater---they have a pedestrian centered street layout, for example, and biking paths, a shuttle or a subway,” he said.

Marks has analyzed successful urban communities in dozens of places from Prague to Seattle to Winter Park, but only the parts. So far the whole package---the sustainable city---exists only on paper. Marks is writing a book on sustainable urban environments he expects to finish this year.

“Successful urban environments developed organically over generations and reflect a wide range of historical influences, from geography to culture to building technology to economic eras,” Marks said.

“Farm towns, fishing villages, desert communities and old world European cities all have common attributes that make them sustainable long past the era when stone walls held back invading armies or families lined the wharfs to welcome home the whale fleet,” Marks explained.

(Seattle, WA skyline lower left  photo)

“There is no utopia, but we cannot continue sprawl into the suburbs without severely hampering our essential social institutions---families, churches, schools---and destroying our environment,” Marks said.

“We can create better places to live and work that will better serve our needs to raise our children, integrate them into our society and orients us to the greater environment,” he said.

For more information, contact:  

David Marks, Marketplace Advisors, Inc., 407-599-0007, dmarks@cfl.rr.com;  

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

Stirling Sotheby's Commercial Group negotiates 14 Downtown Orlando Leases and Sales in last 90 days valued at over $4 Million

ORLANDO, Fla. – Stirling Sotheby’s International Realty’s Commercial Group representatives James Mincy (top right photo)  and John Kurtz (bottom  left photo) negotiated 14 leases and sales valued at more than $4 million in the last 90 days in the downtown Orlando area.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty said Mincy and Kurtz handled 11 leases totaling more than 40,800 square feet for a dollar volume of $2.35 million. 

Mincy and Kurtz handled three sales of office condominiums totaling more than 16,500 square feet in the Plaza at

Orange Ave.

and

Church Street

. The sales totaled $1.72 million, Soderstrom said.  

The leases completed – the bulk of them in the Plaza building – include

·        Legacy Wellness Clinics, 2,448 square feet at

100 E. Pine St.

for five years;

·        Epoch Capital Group, 3,352 square feet,

189 S. Orange Ave

; three years; 

·        TDAK Group LLC, 4,296 square feet,

250 N. Orange Ave

; three years;

·        Centra Executive Offices, 6,460 square feet, Plaza, three years;

·        American Financial Lifeline, 3,931 square feet, 500 Delaney, three years;

·        Creative Zing, 1,974 square feet, Plaza, five years;

·        Solar Smart, 7,213 square feet,

250 N. Orange Ave.

, five years;

·        TransAmerican Financial, 1,930 square feet, 250 N. Orange, three years;

·        K Property Management, 2,995 square feet, Plaza, two years;

·        Edge Public Affairs, 3,637 square feet, 250 N. Orange, three years;

·        Croft Real Estate, 2,592 square foot office building at 522 E. Washington;

Sales in the Plaza building were

suite 1830-

1850 with 6,460 square feet for $108 psf to ACM DT Properties, LLC.  CNL Bank was the seller.

 The Plaza LLC was the seller in the sales of

suites 1120-

30 with 6,727 square feet that sold for $108 psf to ACM DT Properties LLC and

suite 1230

with 3,337 square feet which sold to Peninsula Development Corp. for $89 psf.

For more information, contact:

James A. Mincy or John Kurtz, Sales Associate, Stirling Commercial Group 407-581-5550

Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-581-7890;

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

Creative Financing Solution Enabled Nursing Home Management Company to Purchase Under-performing Properties in Tight Credit Market

CHICAGO, IL--In the business of financing senior housing/healthcare properties, when the going gets tough, the tough get creative.

 Cambridge Realty Capital Companies Senior Vice President Brent Holman-Gomez (top right photo)  describes a scenario involving two under-performing nursing home properties in Southern Indiana.

The owner wanted to sell, and the company brought in to manage the properties under a consulting agreement, Transcendent Healthcare LLC of Fishers, IN, wanted to purchase the properties. 

 But it wasn't feasible for Transcendent to fund the transaction using conventional sources.

Holman-Gomez says Chicago-based Cambridge Investment and Finance Co., Cambridge’s investment and acquisition arm, was approached by Broker Chris Hyldahl (middle right photo) of Marcus and Millichap on behalf of Transcendent and the seller to see what might be worked out.

As part of a long-term strategy, two investor-funded entities agreed to purchase the real estate and enter into a lease agreement with Transcendent.

Under the new arrangement, the two investment entities agreed to lease the real estate to two separate limited liability companies, Transcendent Healthcare of Owensville and Transcendent Healthcare of Boonville. 

The understanding between the parties was that Transcendent would nurse the properties back to clinical and fiscal health and keep any profits made from operations above the rent.   By 2009, the properties had improved substantially. 

 With no new capital other than "sweat equity," the properties' performance allowed Transcendent to purchase the properties and obtain HUD-insured mortgages for both.

When the properties were refinanced earlier this year, Cambridge fulfilled the final end of the bargain by placing debt on the property that cost just as little as the original rental payments, Holman-Gomez noted.

"Effectively, the management company was able to move from lessee to a fee simple ownership position without seeing its real estate costs rise. And Transcendent’s fee simple ownership positions in the properties did not require the firm to make any new capital investment," he explained.


Contact:
Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com
Twitter: http://twitter.com/CambridgeCap