Henin Group completes construction of Gator’s Dockside Restaurant in DeLand, FL

DELAND, FL - The Henin Group, based in Orlando recently completed the remodeling of the Gator’s Dockside Restaurant (top left photo) facility located on Woodland Blvd. (U.S. 17-92) in DeLand.

 Jerome Henin, principal and chairman of the Henin Group, said the remodeling construction costs totaled over $200,000.

 Remodeling of the 9000 square foot facility included an outdoor patio, new flooring, new tile, renovation of the kitchen facilities and a new bar.

For more information, contact:  

Jerome Henin, Founder / President, Henin Group, 407 644-8595;  

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

Rebman Properties Brokers Lake Wales, FL Sale and Orlando Lease

4 Buildings in Lake Wales Go for Total $800,000

WINTER PARK, FL (Dec. 21, 2010) -- Greg Rebman (top right photo) of Rebman Properties, Inc. sold four buildings totaling 74,000 square feet on 24.76 acres in Lake Wales, Florida. Greg Rebman represented the seller, Industrias Vassallo, Inc.

Albert Cross of Cross Realty and Ronald Booth, both of Winter Haven, represented the buyer, Stephen F. Baker.

 The property sold for $800,000.

The property is rail-served and approximately eleven miles from the planned CSX Integrated Logistics Center in Winter Haven.

The ILC will be a centralized hub of transportation, logistics and goods distribution anchored by a new rail-based intermodal and automotive terminal.

Greg Rebman specializes in industrial building and land sales and leasing.

For More Information, contact: Greg Rebman, SIOR, CCIM

407.875.8001 greg@rebmanproperties.com

Central Supply Sub-Leases 23,444 SF of  Combined Office and Warehouse Space

WINTER PARK, FL - Central Supply Company sub-leased 23,444 square feet of office/warehouse space at 515 Ferguson Street, Orlando, Florida. Gemini Management, Inc. was the Sub-lessor on this transaction.

Lyle Nelsen (lower left photo) of Rebman Properties, Inc. represented the Sub-lessor.

 For more information, contact: Lyle N. Nelsen, 407.875.8001 lyle@rebmanproperties.com

Marcus & Millichap Sells 7 Walgreens for $31 Million

PHOENIX, AZ – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced that two agents in the firm’s Phoenix office recently sold seven Walgreens drugstores, according to David Guido (top right photo), regional manager of the Phoenix office.

Jamie Medress (bottom right photo) a senior vice president investments and Mark Ruble, an associate vice president investments, both in Phoenix, represented the sellers and buyers of the seven Walgreens drugstores, which traded between June and October.

The properties are:

• 4470 Royal Pine Drive, Colorado Springs, Colo.: 14,550 square feet; $3,358,000 or $231 per square foot
• 15450 North Tatum Boulevard, Phoenix, Ariz.: 14,832 square feet; $7,725,000 or $521 per square foot
• 15490 West Bell Road, Surprise, Ariz.: 13,905 square feet; $3,156,000 or $227 per square foot
• 4420 East Brown Road, Mesa, Ariz.: 13,905 square feet; $2,994,000 or $215 per square foot  (top left photo)
• 1025 S. Milton Road, Flagstaff, Ariz..: 13,695 square feet; $3,911.000 or $286 per square foot
• 25073 W. Southern Avenue, Buckeye, Ariz.; 14,820 square feet; $4,445,000 or $300 per square foot
• W62N190 Washington Avenue, Cedarburg, Wis., 14,550 square feet or $381 per square foot

“As in other markets around the country, single-tenant properties net-leased to top-rated corporate tenants in the West and Midwest generate intense bidding when listed,” says Medress. “This trend is expected to continue in 2011 as high-net worth individuals and well-funded REITs compete for acquisitions.”

“Unimpressive returns offered by alternative investments and ongoing stock market uncertainty will continue to heighten private buyers’ appetite for low-risk, corporate-backed assets,” adds Ruble.

Matthew Fitzgerald of the firm’s Madison office provided representation in Wisconsin and Michael Hoffman of the firm’s Denver office provided representation in Colorado Springs.

Lior Regenstreif of the Encino office represented the buyer of the Colorado Springs Walgreens and Steve Gonzalez in Phoenix assisted in representing the seller of the 15450 North Tatum Blvd. in Phoenix.

           

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

HFF closes sale of Eagle Ridge Apartments in Monroeville, PA

PITTSBURGH, PA – The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Eagle Ridge Apartments (top left photo), a 352-unit, luxury multi-housing community in Monroeville, Pennsylvania.

HFF executive managing director Gerard Sansosti  and managing director Mark Popovich (middle right photo) led the investment sales team on behalf of the seller, Abacus Capital Group LLC.

 ER Partners, LP, an affiliate of Ringham Corporation, purchased the property for $25,000,000 and assumed existing financing.  HFF also arranged the sale and financing of Eagle Ridge Apartments in 2007 to Abacus Capital Group LLC on behalf of Sentinel Real Estate Corporation for $20.7 million.

Situated on 45 acres overlooking Parkway East (Interstate 376), Eagle Ridge Apartments is located at 1500 Eagle Ridge Drive in Monroeville, close to the UPMC hospital opening in 2012, the Pennsylvania Turnpike and downtown Pittsburgh. 

The 94% leased property has 13 residential buildings with one- and two-bedroom units averaging 911 square feet each.  Community amenities include a clubhouse, business center, fitness center, car wash center, two heated pools and two tennis courts.

“Eagle Ridge Apartments has a truly irreplaceable in fill location.  No apartments have been built in the submarket since 1990 and there are no new properties presently planned or under construction,” said Sansosti.

Abacus Capital Group LLC is a New York, New York-based investment advisor specializing in multifamily housing.  Since its formation in 2004, the company has purchased over $600 million of apartment assets on behalf of institutional and high net worth clients.

 For further information about Abacus, please contact Benjamin Friedman at (212) 203-4959 or Gregory Lyden at (212) 203-4962, or visit http://www.abacuscapitalgroup.com/

Ringham Corporation is a Pittsburgh-based private investment company with 35 years of experience in multi-family housing and private equity investing.  For further information about Ringham, please contact Jonathan Ringham or Michael Dvorsky at 412-372-1746.

Contacts:

Gerard Sansosti, HFF Executive Managing Director, (412) 281-8714, gsansosti@hfflp.com

Mark Popovich, HFF Managing Director, (412) 281- 8714, mpopovich@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com

C&W industrial group negotiates 72,500 SF Lease for Czarnowski in Orlando, FL

ORLANDO, FL– Cushman & Wakefield of Florida, Inc. (C&W) Industrial Brokerage team of Lee Morris (top right photo)  and Jared Bonshire negotiated an 8-year lease on behalf of Czarnowski. The landlord, Prologis, was represented by CBRE.

 Czarnowski leased 72,561 SF at 10805 Lee Vista Boulevard in the Airport submarket.

 Czarnowski was established in 1947 and is headquartered in Chicago, Illinois.

 A leading exhibit and event company, Czarnowski serves a global client base, providing strategy, design, fabrication, rental solutions, transportation, I&D, warehousing, refurbishment, program management, marketing collaboration, brand support, event planning and program measurement.

Contact: Brook Hines. Tel: 407-541-4401, brook.hines@cushwake.com

http://www.cushwake.com/

Florida Bank Failures Trigger $2 Billion In FDIC Losses In 2010

MIAMI, FL--Regulators seized the Bank of Miami on Dec. 17, and in the process the Federal Deposit Insurance Corp surpassed the $2 billion in losses threshold in Florida for 2010, according to a new Condo Vultures® White Paper™.

Before its closure, the Bank of Miami was a 46-year-old institution with three branches, 101 employees, and $448 million in assets. At the height of the real estate boom in December 2005, the Bank of Miami - formerly known as the International Bank of Miami - had assets of nearly $1 billion and 165 employees, according to FDIC data.

The Deposit Insurance Fund - which guarantees accounts up to $250,000 each - realized a loss of $64 million with the Bank of Miami failure, according to the FDIC.

"With two weeks to go in the year, Florida is poised to lead the nation with the greatest number of bank failures for 2010 ahead of Georgia, Illinois, California, and Washington state," said Peter Zalewski (bottom right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Florida's ranking should come as no surprise given the significant amount of speculation - financed by bank loans - that occurred in Florida during the real estate boom. Consider that 185,000 condominium units - including more than 22,000 in Greater Downtown Miami - were created alone in the tricounty South Florida region since 2003.

"It is worth noting the FDIC has been preparing for a rash of Florida bank failures which is why it opened a 500-person bank seizure and asset sales office in the North Florida city of Jacksonville in 2009." 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.

Grubb & Ellis Represents MRS Investments in Purchase of Two Industrial Properties in Puget Sound, WA for $37.9 Million

 SEATTLE, WA (Dec. 20, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Matt McGregor (middle left photo), senior vice president, Industrial Group, Bill Condon (middle right photo), executive vice president, managing director, and Andrew Hitchcock (lower left photo), vice president, Industrial Group, represented MRS Investments in its purchase of Cedar River Corporate Park (top left photo) in Renton and the Lincoln Distribution Center (top right photo) in Kent for a combined total of $37.9 million. 

 “Each of these acquisitions presented a strong investment opportunity for our client for a number of reasons, including their excellent locations near major thoroughfares,” said McGregor. 

“Additionally, Cedar River Corporate Park is a brand new building and the only LEED-certified property of its kind in the Puget Sound, creating a unique competitive advantage.  Lincoln Distribution Center is fully leased and functions very well with a possible value-add prospect.”

Cedar River Corporate Park is located at 2200 Lind Ave. S.W. and consists of four buildings offering a total of 143,300 square feet of flex space.

  Purchased for $27 million, the newly constructed Class A business park holds the silver LEED certification from the U.S. Green Building Council. 

It is situated within close proximity to Interstate 405 and Highway 167.

Michael Ross, executive vice president, and Andrew Harper, vice president, members of Grubb & Ellis’ Institutional Capital Markets group in the company’s downtown Los Angeles office, assisted the Seattle team in the transaction.

 John Gilliland, John Sullivan and Charlie Farra of CB Richard Ellis represented the seller, Tarragon LLC, in the transaction. 

 Located at 5808 S. 196th St., the Lincoln Distribution Center is a 170,000-square-foot warehouse/distribution building that was purchased for $10.9 million.

 

The property was 100 percent leased at the time of sale to multiple tenants, including Pacific Power Generation and Certified Folder Display Inc. 

The property is situated within close proximity to Interstate 5 and State Route 181.  Richard Peterson of NAI Puget Sound Properties represented the seller, Lincoln Center LLC, in the sale.

Contact: Julia McCartney, Phone:714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

Wyndham Hotel Opens in Historic Baltimore Neighborhood

PARSIPPANY, N.J. (Dec. 20, 2010) – Wyndham Hotels and Resorts, LLC, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), today announced its expansion in Maryland with the addition of the 104-room Wyndham Baltimore Peabody Court  (top left photo) in Baltimore’s historic Mount Vernon neighborhood.

Owned and managed by Silver Spring, Maryland-based Sunburst Hospitality Corporation, the 14-story property joins the Wyndham Garden Hotel Gaithersburg in Maryland in serving travelers visiting the greater Baltimore-Washington, D.C., area.

“Baltimore is a historic, vibrant city that attracts travelers from across the world for both business and leisure travel,” said Jeff Wagoner (lower right photo), president of Wyndham Hotels and Resorts.

  

CONTACT:

Kathryn Zambito

Public Relations Manager

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

+1 (973) 753-6590

kathryn.zambito@wyn.com

Stan Johnson Co. Completes Sale of Blue Cross Blue Shield Building in Rockford, IL for $12.3 Million

Rockford, IL, Dec. 20, 2010 –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 77,200-square-foot office building 100 percent occupied by Blue Cross Blue Shield of Illinois to a California-based individual investor for $12.3 million.

The property is situated on 10.5 acres at 2787 McFarland in Rockford, IL.

Craig Tomlinson (top right photo), CCIM of Stan Johnson Company represented the buyer, a Chicago-based individual investor, in the transaction. Kevin Lynch of Sperry Van Ness represented the seller..

The property is one of two Blue Cross Blue Shield customer service centers in the upper Midwest serving the company’s health insurance clients. Built in 1999, the facility was built by Blue Cross and was sold in a sale-leaseback scenario in 2000.

“The health care industry continues to grow and provides commercial real estate investors an attractive investment for buyers looking for stability,” said Tomlinson.

“In this transaction, the buyer benefitted from a long term, triple net lease with Blue Cross Blue Shield, a leading health insurance company, and the seller secured a favorable sale price.”

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

NAI Realvest Negotiates New Industrial Lease for 2,700 SF in Poinciana CommerCenter East

ORLANDO – NAI Realvest negotiated a new lease agreement for 2,700 square feet at 1743 Business Center Lane at Poinciana CommerCenter East (top left photo) in Kissimmee. 

 Michael Heidrich, a principal at NAI Realvest brokered the transaction representing the landlord and developer, Small Bay Partners, LLC of Maitland and the tenant B.A.S.S., LLC. of Celebration, Fla.

For more information, contact:  

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

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

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

     

BDG Construction Services Earns Contract to Build out Surgical Plaza at Florida Hospital East Orlando

 ORLANDO - BDG Construction Services, LLC, in Winter Springs recently earned a major contract to build out the interior of a new medical office at the Florida Hospital East Orlando Surgical Plaza (top left photo), located at 258 S. Chickasaw Trail in Orlando.

 Kevin Guffee, president of BDG Construction, said the contract includes 4,972 square feet of interior medical office space.

 Guffee said construction has already started and the new medical office will open in March.

 BDG Construction is a client of the University of Central Florida Business Incubation Program at the Business Incubator in Winter Springs at 1511 East State Road 434.

For more information, contact:  

Kevin Guffee, Principal, BDG Construction Services, LLC, 407-729-5832 kguffee@bdgcs.com;

Esther Vargas-Davis, Site Manager, UCF Business Incubator–Winter Springs, 407-278-4881, evargasd@mail.ucf.edu;

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

Major Leasing and Management Company President Sees Good Signs Ahead for Central Florida Economy

Scott  Crossman (left) and John Crossman (above) recently celebrated the 20th anniversary of Crossman & Company, one of the Southeast’s largest third-party retail leasing and management firms.

ORLANDO, FL. --- John Crossman sees some light shining through the challenges with the Central Florida economy.

 Crossman, who heads Crossman & Company, now celebrating its 20th year in business in Orlando and one of the largest and most active retail property specialists in the Southeast, said the biggest economic indicator---employment---may be weak but other signs are pointing in the right direction.

“Retail sales are a huge factor in the economy in Central Florida,” Crossman said. “Some retailers are sensing that the worst of the recession is behind us. The retailers who remain are in a better position now than before the recession began,” he explained.

 Those retailers who are left standing made the changes necessary for their survival. Retailers who are still operating today have a good chance of staying around. And, Crossman said, some retailers are looking to expand.

 “We will probably see some retailers fail next year but they will create opportunities for the ones that are growing,” he said.

Crossman said his associates report a big decrease in the number of tenants asking for rent relief. 

 “This is a great sign,” Crossman said. “It’s a clear indicator we have reached the bottom of the curve and we’re starting to see some upward progress.”

 Crossman said some retailers---Publix and Darden are two of the most prominent Central Florida companies---are expanding.

 “They are doing deals and gaining market share,” Crossman said.

 And as sad as it may be to see retail centers close, the aftermath will bring good news for families hoping for a paycheck.

“When the lenders get control of a property, they usually hire local companies like us to bring centers up to marketable standards,” Crossman said. “That means increased demand for landscapers, painters, cleaning companies and the like who are bearing the downturn in new construction,” Crossman said.

Lenders know what they are doing. Crossman said he knows of many REITs---Real Estate Investment Trusts---and private capital groups that are seeking commercial property investments.

 “The brokerage and acquisitions business will see a significant increase in 2011,” Crossman said.

 As the national economy begins to recover, Crossman said he expects Central Florida will be one of the biggest beneficiaries.

 “People who have been economizing through three years of recession are going to loosen the purse strings and that means family vacations,” Crossman said.

“We are very fortunate that our tourism industry here will help lead us out of the recession first,” he said. “We all owe a vote of thanks to Harry Potter and Mickey Mouse,” he added.

Contacts:

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

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

 

Arbor Closes Six Fannie Mae DUS® Loans Totaling $28.1M Across U.S.

 Uniondale, NY (Dec. 20, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of six loans under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across the country. These loans include:

 South View Place Towers, Littleton, CO  (top left photo) – The 259-unit, mid-rise complex, which is primarily marketed to seniors, received $12,860,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

River Hills Apartments, Kerrville, TX  (top right photo) – The 88-unit complex in the Texas Hill Country received $4,450,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

London Square Apartments, Tulsa, OK  (middle left photo) – The 172-unit complex received $4,800,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Village at Lamar Apartments, Austin, TX (middle right photo) – The 154-unit complex received $4,025,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Madison Place Apartments, Cordele, GA (lower left photo) – The 29-unit complex, which is owned by a local investor, received $1,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Exeter Apartments, Colorado Springs, CO (lower right photo) – The 26-unit complex received $1,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

The loans were originated by Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX, lending office.

Arbor helped refinance each one of these properties, except Exeter Apartments, for which an acquisition loan was provided in a rather quick closing time frame.” Porterfield said.

 “Of note among the other deals, London Square Apartments utilized its funding to restore several fire-damaged units. Arbor’s work also helped allow the borrowers to restructure their borrowing entities in the case of London Square as well as Village at Lamar Apartments.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

Marcus & Millichap Capital Corp. Arranges $3.3 Million Apartment Loan in Greensboro, NC

GREENSBORO, N.C – Marcus & Millichap Capital Corporation (MMCC) has arranged a $3,304,000 loan for the acquisition of a 159-unit garden-style multifamily asset in Greensboro.

 Tim Kinney, a senior director in the firm’s Atlanta office, arranged the loan.

“This transaction demonstrates the strength of the entire Marcus & Millichap platform,” says Kinney. “MMCC worked closely with agents representing both the seller and buyer. We shared information throughout the underwriting and closing processes. It was a true team effort,” adds Kinney

 The loan is a 10-year fixed-rate loan with an 80 percent loan to value. The interest rate is 5.32 percent and the amortization is 30 years.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716

Grubb & Ellis Enhances New York Debt & Equity Finance

NEW YORK, NY – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard L. Jarocki Jr., CMB (top right photo), has joined the company as managing director, Debt & Equity Finance. 

“Rich has deep experience establishing and leading strong commercial lending programs, making him a tremendous asset to our team as we build our platform,” said Jeff Majewski (middle left photo), executive managing director, Debt & Equity Finance. 

 “His extensive network of relationships and excellent reputation in the industry gives us an advantage both in New York and nationally.”

Over the past 18 months, Grubb & Ellis has dramatically strengthened its debt and equity finance capabilities, adding senior-level commercial mortgage brokerage professionals in major markets across the country. 

Majewski, former chief operating officer of CB Richard Ellis’ Debt & Equity Finance group and senior managing director of CBRE Capital Markets, joined the company in April to lead the growth of the platform.

Jarocki’s addition follows the hire of Steven Roberts, the former head of CitiGroup’s CMBS lending program and co-leader of the financial institution’s conduit business, in July.  Both long-term industry veterans, Jarocki and Roberts will co-manage Grubb & Ellis’ Debt & Equity Finance group’s efforts in the Northeast.

Contacts: 

 Erin Mays, Phone:  312.698.6735  Email: erin.mays@grubb-ellis.com                  

Mary Ryan, 212.326.4747, mary.ryan@grubb-ellis.com

 

Grubb & Ellis  Inks Three Leases at Bay West in Tampa

TAMPA, FL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today it has recently closed three office transactions totaling more than 14,000 square feet located at Bay West, an eight-building office complex totaling nearly 195,000 square feet of space in the Westshore Business District.

 James Moler (middle right photo), CCIM, senior vice president, and Paula Buffa (middle left photo), CCIM, senior vice president, both with Grubb & Ellis’ Tampa office completed the following transactions at the building on behalf of Bay West Tampa Investors, LLC, an affiliate of BPG Properties, Ltd. 

 In the largest of the transactions, Meritus, signed a 9,917-square-foot office lease at 5680 W. Cypress St. for a five-year term to serve as their headquarters location. Bruce Heisler of The Duncan Companies, Inc. represented the lessee in the transaction.

GEICO signed a new lease for 2,890 square feet at 5810 W. Cypress St. and will occupy the building as its regional office in the first quarter of 2011.

ReSource recently signed a new lease for 1,364 square feet at 5840 W. Cypress St. Headquartered in Chicago, the hardware and software solutions company will occupy this space as their Tampa sales and service office.

 Thomas Bible of VIP Executive Realty represented the lessee.

 “We are very pleased with the amount of activity we’ve had at Bay West since being named leasing agents nearly six months ago. With no seasonal let down in sight, we expect the strong interest to continue into 2011,” said Moler.

Offering move-in ready suites ranging from 1,015 square feet to 24,242 square feet, Bay West provides on-site property management and maintenance as well as covered parking.

 The property offers lush landscaping, fountains and is adjacent to Cypress Point Park, offering bay views, waterfront trails and picnic tables. The property is minutes to Tampa International Airport, I-275, Veteran’s Expressway, SR 60 and Pinellas County.

Grubb & Ellis Negotiates 10-Year Renewal Agreement for 34,306 SF at Meridian Concourse Center in Clearwater, FL

 TAMPA, FL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  has recently completed a 10-year lease renewal agreement for 34,306 square feet of Class A flex/warehouse space at 4825 140th Ave. North in Clearwater’s Meridian Concourse Center (middle left photo).

 James Moler, CCIM, senior vice president, and Paula Buffa, CCIM, senior vice president, both with Grubb & Ellis’ Tampa office negotiated the agreement on behalf of the landlord, Meridian Development Group.

 The tenant, APG Electric, Inc., a full-service electrical contractor serving central and west Florida, decided to make the long-term renewal commitment after exploring all options available in the market, Moler said.

 “We seriously considered purchasing our own building, but after comparing that option with the benefits of this property, its excellent management and other strategic factors, we determined it was better for our business to renew,” said John R. Kavula, chairman and chief executive officer of APG Electric.

 Contact: Rachel Andreozzi,  Phone: 561.893.6296

Email: rachel.andreozzi@grubb-ellis.com

Arlene Sommer, Mark Robinson and Evan Kantor Join Grubb & Ellis

  LOS ANGELES, CA Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced Arlene Sommer (middle left photo) and Mark Robinson (middle  right photo) have joined the company’s Office Group as executive vice presidents, along with Evan Kantor (lower left photo) who joins as a senior associate. 

Specializing in office tenant representation, primarily in the media, entertainment, legal and financial industries, the team joins from Studley Inc., where they served as executive managing director, senior managing director and assistant director, respectively. 

 Robinson and Sommer represent the National Academy of Recording Arts and Sciences Inc., known for the Grammy Awards, Screen Actors Guild, Revolution Studios, Dick Clark Productions Inc., Actors’ Equity Association, Wilshire Associates, Bryan Cave LLP and Perkins Coie LLP. 

 “Arlene and Mark have an immense knowledge base about the entertainment and media industries, as well as the legal and financial business. 

" They bring a number of long-term client relationships throughout Southern California,” said Chuck Hunt (bottom right photo), executive managing director, Southern California.  “I couldn’t be more pleased to welcome them to Grubb & Ellis.” 

 Primarily focusing on real estate in Santa Monica, Sommer has negotiated transactions totaling more than 6.5 million square feet of space on behalf of clients during her 25-year career.

 More than half of her career was spent at Studley, she was consistently ranked as one of the company’s top performing professionals in the Western Region.  In 2000, she ranked as the company’s top producer in Southern California. 

 A 25-year industry veteran, Robinson spent 14 years with Studley, where he was involved in the closing of more than 3.2 million square feet of space and the formation of the Media Services Group, where he served as a senior strategist and lead negotiator. 

The group consists of brokerage, architectural, financial and project management professionals and was designed to ensure integrated service delivery throughout an entire project. 

Robinson began his career in 1985 with Leonard Nadler Associates Inc., a boutique commercial real estate firm specializing in corporate and tenant representation, where he spent 11 years and ultimately rose to the position of vice president. 

 “We were attracted to Grubb & Ellis’ integrated national platform.  We believe the company’s broad service offerings and footprint will allow our team to better serve our clients who have wide-ranging real estate needs. 

“We are truly looking forward to collaborating with our new colleagues throughout the country to ensure our clients have the best real estate insight possible,” said Robinson. 

 Kantor began his career in commercial real estate in 2004 with DAUM Commercial Real Estate Services, and joined Sommer and Robinson in their tenant representation practice at Studley in 2008.  He holds a bachelor’s degree from the University of Arizona and serves on the Young Professionals Board of the Upward Bound House. 

 Contact: Julia McCartney, Phone: 714.975.2230,                                       

Email: julia.mccartney@grubb-ellis.com