Principal of Newmark Knight Frank’s Southeast Capital Markets Group, Whitney Knoll, heads Retail Panel at Interface Retail in Atlanta

ATLANTA, GA --- Whitney Knoll (top right photo), principal for Newmark Knight Frank’s Southeast Capital Markets Group, told an audience of real estate investors, brokers and developers gathered in Atlanta that Real Estate Investment Trusts (REITs) will play an increasingly important role in the retail development industry as the U.S. economy improves.

Knoll headed a panel of experts discussing the impact of REITs on economic development in the southeast U.S. at the Interface Retail: Atlanta conference sponsored by professional trade journals Shopping Center Business and Southeast Real Estate Business.

While the retail development industry’s recovery from the recession has been slow and new construction reflects slow residential growth, retail equity partners have been actively pursuing acquisitions of well-positioned retail facilities throughout the southeastern U.S., Knoll said.

“Retail equity participation is weathering a severe credit crunch and an evolving debt market,” Knoll said. “REITs have emerged as a principal source of liquidity in both debt and equity capital fundraising as investors and developers seek other means of financing projects,” he said.

Knoll, who is responsible for initiating retail investment sale transactions and capital markets transactions for Newmark Knight Frank’s Southeast Capital Markets Group, ranks as one of the leading retail property brokers in the Southeast, with career transactions that total more than 3.3 million square feet of commercial space valued at approximately $3.3 billion.

Knoll’s panel, “Meet the Retail REITs: Hear From the Equity Players in 2011,” included Richard H. Carson, Regional Vice President for New Development and Acquisitions at Weingarten Realty Investors; Mike Cohn, Executive Vice President for Retail Investments, Leasing & Asset Management at Cousins Properties, Inc.; Bob Mitzel, Regional President for Southeast and North Florida at Equity One; and Will Ponder, Vice President of Investments at Edens & Avant.

For more information contact:

C. Whitney Knoll, Principal Southeast Capital Markets Group, Newmark Knight Frank, 201 17th St. Atlanta, GA 30363; wknoll@newmarkkf.com

Larry Vershel,  Larry Vershel Communications 407-644-4142 or 407-461-3780 lvershelco@aol.com.

Marcus & Millichap Capital Corp. Names Dean P. Giannakopoulos as Associate in Chicago

CHICAGO, IL – Marcus & Millichap Capital Corporation (MMCC) has named Dean P. Giannakopoulos (top right photo) as an associate in the firm’s Chicago Downtown office, according to William E. Hughes, senior vice president and managing director of MMCC.

“Dean has an impressive track record of arranging commercial real estate financing on a national scale,” says Hughes. “He brings a wealth of knowledge in arranging debt and equity finance transactions for multifamily, office, retail, industrial, and land properties to his new position.”

Prior to joining MMCC, Giannakopoulos was a senior commercial mortgage analyst and jr. producer at Maverick Commercial Mortgage Inc. He has also held positions as a commercial mortgage analyst with Prairie Realty Advisors Inc. and as a loan officer with Wells Fargo Financial.

Giannakopoulos has a Bachelor of Science degree in finance from the University of Illinois at Urbana-Champaign.

 Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation

(925) 953-1716

Bank Repos Decline In South Florida In Q1 2011

MIAMI, FL--The number of bank repossession in South Florida decreased in the first 90 days of 2011, representing the first quarterly drop since the real estate crash began in 2007 in the tricounty region, according to a new report from CondoVultures.com.

Lenders repossessed two percent fewer South Florida properties between January and March 2011 on a year-over-year basis than in the same three-month period in 2010, according to the report based on the Condo Vultures® Foreclosure Database™.

Banks and other creditors took title to less than 9,000 properties in the tricounty region of Miami-Dade, Broward, and Palm Beach counties in the first quarter of 2011. A year earlier in 2010, lenders repossessed nearly 9,200 properties in the same first-quarter period, according to the report based on government records.

In the first quarter of the three previous years, lenders took title to 7,300 properties in 2009; 4,800 properties in 2008; and 1,350 properties in 2007. 

"A quarterly decrease in bank repossessions in South Florida is noteworthy given that this is the first time it has occurred in four years," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "We would caution, however, about getting overly optimistic and concluding that the distress in the South Florida real estate market has passed. There is no question that the situation has improved compared to 2008 and 2009.

"The unknown is, what will happen when the 'foreclosure freeze' is finally resolved, and lenders once again have confidence in their administrative processes to pursue foreclosures against borrowers in default."

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

New Orleans Hotel Collection Announces New Partnership with a Worldwide Boutique Hotel Membership Network

NEW ORLEANS, LA - April 12, 2011 - The New Orleans Hotel Collection has announced that four of its hotels have joined K Hotels’ independent hotel membership network. 

The four hotels are:

• the 217-room Bourbon Orleans Hotel (lower right photo), conveniently located on Bourbon Street near Jackson Square;
• the 97-room Saint Louis Hotel, located in Bienville Street and currently undergoing extensive remodeling and upgrades;
• the new 66-room Hotel Le Marais, a stylishly chic and contemporary boutique property on Conti Street; and
• the 111-room Dauphine Orleans Hotel, a long-time local favorite known for its excellent service. 

All four hotels are located in New Orleans’ most desirable district – the historic French Quarter. Each of these unique properties will appeal to the world traveler seeking unique stays at independent hotels in remarkable destinations.

“We are excited to be partnering with the K Hotels network, which will improve access to our unique properties for the discerning members of K Hotels who make a conscious choice to stay at independent boutique properties around the world,” said Marc Becker, area director of marketing.

 “K Hotels offers its members a frequent traveler loyalty program and a sophisticated online search and reservations system, in addition to a number of other benefits.”

 For more information, visit the website: http://www.neworleanshotelcollection.com/

.

Contact:

Marc Becker,Area Director of Marketing,Phone: 504 527 0407

Email: Marc.Becker@neworleanshotelcollection.com

Charles Dunn Co. Brings Two Buildings to 100% Occupancy in Glendale and Burbank, CA

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed five leases totaling 63,000 square feet of space within two major office buildings in the Tri-City office market. The five leases have an aggregate lease value of approximately $10.2 million.

The Charles Dunn Company leasing team of Bill Boyd and Linda Lee completed two leases totaling 33,000 square feet at 2411 West Olive in Burbank, Calif.

The six-story building totals 115,000 square feet and is now fully occupied. The team also completed three leases at Galleria Office Tower (top left photo) in Glendale, Calif., bringing the 140,000 square foot class A asset to 100 percent occupied.

Adding to the significance of this accomplishment, the properties are the only office buildings totaling more than 100,000 square feet in their markets to be fully occupied.

The Galleria Office Tower is the most successful office tower in the Glendale market which includes 25 buildings in excess of 100,000 square feet. The leases for this property include:

·         A new, five-year lease with LegalZoom totaling 5,000 square feet. The company will use its new ground floor space as an extension of its nearby headquarters.

·         A five-year lease renewal and expansion with Travelers Insurance totaling 19,000 square feet. Travelers expanded its space within the building by an additional 3,000 square feet.

·         A seven-year lease renewal with law firm, Baker, Olson, LeCroy & Danielian, totaling 6,000 square feet.

The Glendale office market, which totals 6.3 million square feet, currently has a 23.6 percent vacancy rate. That translates into approximately 1.5 million square feet of vacant space.

“Given the high market vacancy rate, the competition to renew existing office tenants, as well as attract new tenants, is extremely fierce,” said Lee. “The Galleria Office Tower is a well located, high-profile building that has a longstanding reputation for being well managed. The building ownership appreciates the necessity for being sensitive to market terms and competition which makes the leasing effort even more successful.”

Located at 100 West Broadway in the City of Glendale, Galleria Office Tower was built in 1983 and was part of the second phase of the Glendale Galleria mall’s expansion.

The Boyd and Lee team of the Charles Dunn Company has been responsible for in excess of five million square feet of office leasing in the Tri-City area.

   

Contact: Darcie Giacchetto, D.G. Communications, Inc.,949.278.6224

http://www.charlesdunn.com/

NAI Realvest Negotiates Long-Term Lease for 3,800 SF of Office Space at SunTech Commerce Park in Lake Mary

ORLANDO, FL.  --- NAI Realvest recently negotiated a new long-term lease agreement for 3,800 square feet of office space at 43 Skyline Drive in the SunTech Commerce Park (top left photo) in Lake Mary.

NAI Realvest associates Drew Saphos, CCIM and Paul Vera along with Christie Alexander, principal and George Livingston, chairman emeritus, negotiated the transaction representing the tenant, EDCO Group, Inc. d/b/a ABI Document Support Services of Lake Mary.   

 Butters Real Estate Funds of Coconut Creek, Fla. is the landlord who was represented in the transaction by Christi Davis CCIM of Morrison Commercial Real Estate. 

For more information contact

Christie Alexander, Principal, NAI Realvest 407-949-0704 calexander@realvest.com

George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com

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

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

Delinquent Loan Rates for Commercial Real Estate Reach All-Time High

 ATLANTA, GA – The national delinquency rate for commercial real estate loans is higher than it has been in at least two decades, according to Tom Fink (top right photo), senior managing director at Trepp and a recent guest on the “Commercial Real Estate Show.”

Fink told radio show host Michael Bull (lower left photo) the national delinquency rate for loans on commercial real estate has reached 9.42 percent, the highest it has been since data on the subject was first tracked in the early 90s. The total amount of delinquent loans on commercial real estate properties is $61 billion, he said.

The cause, according to Fink, is “bad underwriting during the bull market.”

As for the future, Fink estimated that $300 billion in commercial real estate needs to be refinanced in the next three years. At least half of loans coming due are “underwater,” meaning the loans are more than the value of the property.

 “If you are in the distressed real estate market, you still have tons of opportunities out there,” he said.

Contact:  Midd Read, Office: (404) 965-5024. Cell: (404) 901-4433

mread@wilbertnewsstrategies.com

Gladstone Commercial Corp. Announces Property Acquisition in Hickory, NC

MCLEAN, VA,  /PRNewswire/ -- Gladstone Commercial Corporation (Nasdaq: GOOD) (the "Company") reported  it purchased a 60,000 square foot office building in Hickory, North Carolina for $10.7 million.

The property was built-to-suit for the current tenant in 2008, who has nine years remaining on the lease.  The tenant also has two options to extend the lease for additional periods of five years each.  The guarantor of the lease is a public, investment grade corporation.

"We are excited to add this property and quality tenant to our existing portfolio, and we are looking forward to continuing to grow our portfolio during 2011," said Chip Stelljes (top right photo) the Company's President and Chief Investment Officer. 

Gladstone Commercial Corporation is a publicly-traded real estate investment trust ("REIT") that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans.  

Additional information on this transaction can be found at http://www.gladstonecompanies.com/.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit http://www.gladstone.com/.

Contact:: Gladstone Commercial Corporation, +1-703-287-5893

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

David J. Feece Rejoins Grubb & Ellis as Vice President, Industrial Group in San Jose, CA

  

SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that David J. Feece (top right photo) has rejoined the company’s San Jose office as vice president, Industrial Group. 

“David has spent his entire 23-year career in San Jose and has developed a broad understanding of the market from his experience in nearly every facet of commercial real estate.  He is a strong addition to our team,” said Dick Scott, (lower left photo) managing director of the company’s San Jose office.

 Feece returns to the company after spending 10 years as the owner and manager of Acme Property Management & Development Inc. in San Jose.  

He was previously with Grubb & Ellis’ San Jose office for nine years as an associate specializing in the leasing of industrial, office and retail properties, as well as value-add opportunities for owner/users. 

During his tenure, he was recognized as San Jose’s New Salesperson of the Year as well as a Top Producer.  He began his career in the local construction market in 1987. 

 Contact: Julia McCartney ,Phone:  714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

         

Evergreen Devco Inc. Selects Grubb & Ellis to Lease 596,000-SF Retail Portfolio in Arizona

PHOENIX, AZ– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Evergreen Devco Inc. has selected Bill Finch, vice president, and Alex Gonzalez, senior associate, both of the company’s Retail Group, as the leasing agents of Goodyear Centerpointe, Villago Marketplace, Anthem Marketplace at Merrill Ranch and Sonoran Desert Village.  

The properties offer a total of 596,000 square feet of space in the Phoenix metro area. 

 “This retail portfolio consists of well positioned properties anchored and leased by national retailers. Prospective tenants have the opportunity to lease or build out a wide range of available spaces and pads, while benefiting from a strong, experienced ownership like Evergreen,” said Finch. 

 Goodyear Centerpointe (top left photo) is a 290,000-square-foot regional power center located at the intersection of Interstate 10 and Pebble Creek Parkway in Goodyear.  The center is 98 percent leased to a variety of tenants, including Sport Chalet, Toys ‘R’ Us Inc., Babies ‘R’ Us Inc., Paradise Bakery & Cafe and Rubio’s Inc.

  There are two suites, 1,123 and 4,910 square feet in size, currently available for lease, as well as two pads available for lease or build-to-suit, offering approximately 27,000 and 37,200 square feet of space.  Additionally, there is 12,000 square feet of space available for pre-leasing in a planned multi-tenant building on the site.   

 A 156,000-square-foot grocery-anchored shopping center, Villago Marketplace (top right photo) is located at the northeast corner of the intersection of McCartney Road and Pinal Avenue in Casa Grande.  The center is anchored by Fry’s Marketplace and 92 percent leased.

 Other tenants include McDonald’s Corporation, JPMorgan Chase & Company, Subway Restaurant and United Parcel Service of America Inc.  Space currently available ranges in size from 900 to 6,135 square feet, with pads available for ground lease or build-to-suit opportunities. 

Anthem Marketplace at Merrill Ranch (middle left photo) is a 135,000-square-foot grocery-anchored shopping center located at the northeast corner of the intersection of Hunt Highway and Merrill Ranch Parkway in Florence.  The center is currently 98 percent leased with 1,915 square feet of space available and three pads ranging in size from 1 to 3 acres. 

Tenants include Safeway, McDonald’s Corporation, Wells Fargo Bank N.A., United Parcel Service of America Inc. and Allstate Insurance.   

 Sonoran Desert Village (lower right photo) is a 15,000-square-foot shopping center situated at the southwest corner of 27th Avenue and Carefree Highway.  The 80 percent leased center is anchored by Walgreens, which is joined by Wells Fargo Bank N.A. and Street of New York.  Space available ranges in size from 960 to 2,400 square feet. 

 For more information, call 602.952.3800, or contact Finch at bill.finch@grubb-ellis.com , or Gonzalez at alex.gonzalez@grubb-ellis.com

.

Contact: Julia McCartney,  Phone: 714.975.2230                                      ,                                   

Email  julia.mccartney@grubb-ellis.com

          

Marcus & Millichap Arranges $18.4 Million Sale of Seattle Shopping Center

SEATTLE, WA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of  the Promenade 23 Shopping Center (top left and bottom right photos), a 97,017-square foot shopping center in Seattle. The sales price of $18.4 million represents $189 per square foot.

 Dino Christophilis, an associate vice president investments in the firm’s Seattle office, represented the buyer, Weingarten Realty Investors.

“’The Promenade 23,’ as it is called locally, is the retail focal point of Seattle’s Central District,” says Christophilis. “Weingarten Realty plans to explore options for improving the center. Local zoning permits heights of up to 65 feet, which creates some intriguing possibilities,” adds Christophilis.

 The property is located at 303 and 323 24th Ave. S and 2309 South Jackson St. in Seattle, due east of the downtown business district and one of Sound Transit’s light rail stops.

The center consists of Promenade North, located at the northeast corner of 23rd Ave. S and Jackson St., and Promenade South, located at the southeast corner of 23rd Ave. S and Jackson St.

The Promenade 23 Shopping Center is anchored by a freestanding Starbucks, a freestanding Walgreens and local food chain Red Apple Grocery.

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

Grubb & Ellis Receives Listing Standards Notice from NYSE

            

 SANTA ANA, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has reported that on April 7, 2011, it was notified by the New York Stock Exchange that it is not currently in compliance with the NYSE’s continued listing standards, which require a minimum average closing price of $1 per share over 30 consecutive trading days. 

 Subject to providing required notice and an ongoing assessment by the NYSE, the company is permitted up to a six-month period, from the date of the notification to cure this deficiency. 

During this period, Grubb & Ellis common shares will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing standards, and a “.BC” indicator will be affixed to the GBE ticker symbol.

  As required, the company intends to notify the NYSE that it intends to cure the deficiency.  The company’s business operations, SEC reporting requirements and debt instruments are unaffected by the notification.

On March 21, Grubb & Ellis announced that it had engaged JMP Securities to explore strategic alternatives, including the potential sale or merger of the company.

 Grubb & Ellis also announced on March 30, that it had received an $18 million financing commitment from Colony Capital, LLC, in the form of a senior secured term loan facility, which gives Colony 60 days to evaluate the possibility of making a larger strategic investment.

Contact:  Janice McDill, Phone, 312.698.6707                                     

Email: Janice.mcdill@grubb-ellis.com

Marcus & Millichap Capital Corp. Brokers Loans in Lancaster, NY and Manhattan

  

$3.9 Million First Mortgage Arranged for Multi-Family and Retail Mixed-Use Complex in Lancaster, NY

LANCASTER, NY – Marcus & Millichap Capital Corporation (MMCC) has arranged a 10-year fixed rate, non-recourse loan to refinance Forestream Center, a 68,100-square foot mixed use property which includes 29 multi-family apartments located in Lancaster, New York.  

Financing for this transaction was provided by an insurance company at the rate of six percent. Terms of the loan are for 10 years and the loan to value is 72 percent.           

Gerald Kray, a senior director in the firm’s Manhattan office, arranged the financing.

$2.185 Million First Mortgage Closed on East 83^rd Street Multi-Family Apartment Building in New York City

NEW YORK, NY– Marcus & Millichap Capital Corporation (MMCC) has arranged $2,185,000 in refinancing for a 16-unit multifamily property located in the Upper East Side of Manhattan, New York.

Gerald Kray (lower right photo), a senior director in the firm’s Manhattan office, arranged the 10-year financing with a New Jersey based Savings Bank.  The interest rate was 4.75 percent with 75 percent loan to value.

Press Contact: J.D. Parker, Vice President and Regional Manager, Manhattan

(212) 430-5100

New Faces and Recognition at Marcus Millichap

Jeff Oram and Nat Gambuzza Named Top Investment Specialists in New Jersey Office

ELMWOOD PARK, N.J., April 4, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named its top producers for 2010, according to Michael J. Fasano, vice president and regional manager of the New Jersey office. Jeff Oram (top right photo) and Nat Gambuzza (top left photo) ranked as the top two agents in the office, closing a combined 22 transactions last year totaling $62 million.

Jeff Oram, a director of the firm’s National Office and Industrial Properties Group (NOIPG), joined Marcus & Millichap in 2009 and specializes in the sale of office and industrial buildings.

 Oram closed 10 transactions last year, including the sale of the underlying senior debt on a 287-unit multifamily complex in Bergen County. In another stand-out deal, he represented a New Jersey industrial developer in the $9 million disposition of two triple-net-leased assets. Oram also closed on the sale of a single-tenant triple-net lease office building in Ridgewood. 

Nat Gambuzza, a vice president investments with the firm and a director of its National Multi Housing Group, joined Marcus & Millichap in 2002 and focuses on multifamily investment sales.

 Gambuzza brokered 12 transactions in 2010. He worked with Oram to sell the underlying debt on a 287-unit multifamily asset in Bergen County; the disposition of Hampshire Court, a 54-unit apartment building in Plainfield; and 41 apartment units on West Englewood Avenue in Teaneck.

“There was a call to action among buyers and sellers to execute transactions in 2010,” explains Fasano. “This was fueled in part by historically low interest rates, but also recognition that for the most part, prices had bottomed and it was time to execute. Investors demonstrated a strong appetite for quality assets. Both private and institutional investors competed for quality, which created momentum that still exists in the current marketplace.”

Jake S. Roberts is Top Loan Originator in West Los Angeles Office       

NEWPORT BEACH, CA– Marcus & Millichap Capital Corporation (MMCC) has named its top loan originators of 2010, according to William E. Hughes, senior vice president and managing director of MMCC. Jake S. Roberts, (middle right photo) a senior director/vice president capital markets in the West Los Angeles office, ranked No. 5 nationwide.

 “It gives me great pleasure to recognize Jake as the firm’s No. 5 loan originator of 2010,” says Hughes. “Through each market cycle, Jake has consistently ranked as one of MMCC’s top performers because of his commitment to providing superior financing and advisory services to his clients.”

 Roberts joined MMCC in April 2004. He was promoted to vice president capital markets in 2010. While with MMCC, Roberts has earned four National Achievement Awards and seven sales recognition awards.

 Roberts graduated from Texas A&M University with a Bachelor of Science degree in business finance.

Brian Adams is New Associate Director in  MMCC Dallas Office

DALLAS, April 8, 2011 – Marcus & Millichap Capital Corporation (MMCC) has named Brian Adams as an associate director in the firm’s Dallas office, according to William E. Hughes (lower left photo), senior vice president and managing director of MMCC.

“Brian has an impressive track record of arranging commercial real estate financing on a national scale,” says Hughes. “He brings a wealth of knowledge in arranging debt and equity finance transactions for multifamily, office, retail, industrial and hospitality properties to his new position.”

Adams has more than 10 years of commercial real estate finance experience. Prior to joining MMCC, he was a loan acquisitions team leader with Beal Bank.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corp.,

(925) 953-1716

Sam Zamani Joins Ardaman & Associates, Inc. in Orlando

  

 ORLANDO, FL – Ardaman & Associates Inc., a leading geotechnical engineering and environmental services firm, is pleased to announce that Sam Zamani, P.E. (top right photo) has joined the firm as director of environment and permitting.

As part of Ardaman’s corporate engineering group, Zamani will serve client needs from both its Tampa and Orlando, Fla., offices. He is a Florida licensed professional engineer, and holds a Bachelor of Science and a Master of Science in Chemical Engineering from the University of South Florida.

 “We are very pleased to welcome a professional of Sam’s experience, ability and reputation, with such a strong industrial background,” said Dr. Nadim F. Fuleihan, Sc.D., P.E. president, Ardaman & Associates, Inc. “He is well known and respected in Florida and brings environmental and regulatory experience that complements our staff’s worldwide capabilities.”

 Previously, Zamani served 35 years with the Florida Department of Environmental Protection as Agency’s statewide phosphate management program administrator.

Please visit http://www.ardaman.com/ for more details on services and experience.     

 Contact: Mark Mongeau, 407 855-3860, mmongeau@ardaman.com

Harsch Investment Properties Selects Grubb & Ellis to Lease 351,000 SF of Industrial Space

 SEATTLE, WA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Harsch Investment Properties selected the company’s Industrial Group to lease West Park Corporate Campus in Auburn and Campus Park in Federal Way. 

The two properties total 351,287 square feet of office/warehouse space.

 The leasing team includes Bill Condon (top right photo), executive vice president and managing director, Matt McGregor (middle left photo), senior vice president, Arne Svendsen, senior associate, and Patrick Mullin, associate.

 “This space is ideal for light industrial users that would like to maintain a professional corporate image,” said Condon.  “Tenants also benefit from each property’s central location to the Ports of Seattle and Tacoma, as well as the Seattle-Tacoma International Airport.”

 West Park Corporate Campus (bottom right photo), located at the intersection of West Valley Highway North and 37th Street Northwest in Auburn, consists of 273,286 square feet in four buildings with 30-foot clear height. 

 Constructed in 2000, the property is situated alongside Highway 167 and is near Highway 18 and Interstate 5.  Current tenants include Acondo LLC, Cobra Roofing Services, Hydro USA, PPG Industries and Vestcom Retail Solutions.  Space immediately available for lease ranges in size from 8,279 to 13,506 square feet. 

Campus Park is a three-building, 78,000-square-foot office/industrial complex at the intersection of Ninth Avenue South and 344th Street in Federal Way, in proximity to Highways 99, 161 and 18. There are currently 10 units available ranging in size from 2,015 to 2,853 square feet. 

For more information, call 206.388.3000, or contact Condon at bill.condon@grubb-ellis.com, McGregor at matt.mcgregor@grubb-ellis.com, Svendsen at arne.svendsen@grubb-ellis.com, or Mullin at patrick.mullin@grubb-ellis.com.

Contact: Julia McCartney,  Phone: 714.975.2230                                     

Email:  julia.mccartney@grubb-ellis.com

         

Grubb & Ellis Represents Regents of the University of California in 24,053-SF Lease Renewal for UCLA

         

 LOS ANGELES, CA (April 6, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that members of its Tenant Advisory Group represented the Regents of the University of California in its lease renewal and restructure of a total of 24,053 square feet of office space located at 11075 Santa Monica Blvd. and 1640 S. Sepulveda Blvd.

 Sean O’Leary, senior vice president, Maury Gentile, executive vice president, Heather Goyan, associate, Mark Sokolowski, associate, and Max Schneider, associate, facilitated the transaction.

 Both spaces are used for research by the Integrated Substance Abuse Programs of the University of California, Los Angeles (campus, top left photo).  The 17,665 square feet of space located at 11075 Santa Monica Blvd. will be remodeled and the university will move back into the space in June.

 Gayle Landes of First Property represented the owner of the property, Hines, in the transaction. 

The 6,388 square feet of space located at 1640 S. Sepulveda Blvd. has been rebuilt and the university has taken occupancy.  Matt Ceragioli of NAI Capital represented the owner of the property, Jamison Properties Inc., in the transaction. 

Contact: Julia McCartney, Phone: 714.975.2230                                     

Email:  julia.mccartney@grubb-ellis.com

Gregory Andris Joins Molinaro Koger Miami Team

  

WASHINGTON, D.C., April 8, 2011—Officials at Molinaro Koger (MK), the global hotel-exclusive real estate brokerage, advisory and capital markets firm, today announced that Gregory Andris (top right photo) has joined the company as vice president and will be based in the firm’s office in Miami, Florida.

 The office is focused primarily on serving clients in the southeastern U.S., Caribbean, Mexico, Central and South American markets. 

“Greg will provide the full range of investment, sales and financing expertise from our office in Miami,” said Robert T. Koger (lower left photo), MK president.

 “Latin America, the Caribbean and the southeastern U.S. markets are rebounding strongly from the downturn, and we are building an active pipeline of properties throughout those areas. 

“We expect real estate transactions in those markets to more than double in 2011 and continue to expand for several years after that.  As those economies expand, we also expect to see an increase in major development projects from Brazil to Panama.

“Greg Andris brings more than 20 years of hotel real estate experience, with particular expertise in those markets, where he has completed more than $800 million in transactions.

“His law degree and years as real estate corporate counsel for Marriott Corporation give him an invaluable perspective on hotel real estate that will greatly benefit our clients.” 

 For further information about the company or current hotel property offerings, call 703.760.9600 or visit the company’s website http://www.mkhotels.com/

.

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

Tim Peters Named General Manager of The Nautical Beachfront Resort in Arizona

LAKE HAVASU CITY, AZ, April 8, 2011—The Nautical Beachfront Resort  (top left photo) today announced that hotel veteran Tim Peters has been named general manager of the state’s only beachfront destination.   

“Tim has more than  30 years’ hotel experience and has done an outstanding job operating our managed upscale beach resort in North Carolina, where he had a significant positive impact on improving profits and guest satisfaction scores,” said Si Sloman, principal of MJS Hotels, operators of the resort.

  “Many of the innovative programs he introduced there will fit well with the major changes and upgrades planned and underway at The Nautical Beachfront Resort.”

Peters replaces Vern Porter who has left the resort to pursue other interests. 

“Vern established a strong relationship between the resort and the community, and we wish him well in his new endeavors,” Sloman said.  “Tim’s job will be to build on those relationships.”

Contact: Jerry Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293

jerry@dalygray.com