Friday, April 22, 2011

Celebration Golf Club honored by Golf Digest; ranked among top 30 of more than 1,700 Florida golf courses



ORLANDO, FL --- Celebration Golf Club (top left photo) was recently ranked among the top 30 best golf courses in Florida by Golf Digest.

Gene Garrote, president of Celebration Golf Management, which owns and operates Celebration Golf Club and five others in Central Florida, said he was pleased with the ranking, which reviewed more than 1,700 Florida golf courses.

“Celebration Golf Club is an excellent course and we are delighted to be named among the top 30 golf courses in Florida,” Garrote said.

For more information, contact:  
Gene Garrote, President, Celebration Golf Management, 407-566-1045;  
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142  

Wilson Commercial Real Estate Hires Austin Bettar as Leasing Associate and Promotes Parker Champion to Leasing Associate

  

LOS ANGELES, CA, APRIL 22, 2011 – Wilson Commercial Real Estate, one of Southern California’s leading retail brokerage firms, has announced that it has hired Austin Bettar (top right photo) as leasing associate.

  In addition, the company has promoted Parker Champion (middle left photo) to leasing associate.  Both men will specialize in representing retail landlords and tenants in their real estate needs. 

“We are excited to have Austin join our team and Parker further his growth with our company,” said Chris Wilson, President, Wilson Commercial Real Estate.  “We are confident that both men will play integral roles in helping to serve our existing clients and grow our business.”

With more than 25 years of commercial real estate experience, Bettar previously served as a leasing representative with NewMark Merrill Companies, O & S Holdings and CB Richard Ellis, where he was responsible for leasing numerous community, power, lifestyle and neighborhood shopping centers throughout Southern California.  Throughout his career, he has completed transactions encompassing more than one million square feet.

Champion previously served as a runner for Wilson Commercial’s leasing team.  Prior to joining the firm, he worked for Bascom Group, a private equity firm in Orange County, Calif.  Champion graduated from the University of Southern California with a Bachelor of Science in Policy, Planning and Development.

 His family has owned and developed shopping centers in the Southern California market for more than 30 years. The firm now includes five leasing professionals and four investment sales professionals.

Contact: David Ebeling,  Ebeling Communications, (949) 278-7851
For more information, please visit http://www.wcre.net/
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Dizengoff-Trading Group Purchases Wal-Mart Anchored Shopping Center in Coral Springs, FL



BOCA RATON, FL (April 22, 2011)– Dizengoff-Trading Group, an income-producing investment real estate firm, has purchased North Hills Square (top left photo), a 63,900 square foot open-air shopping center located in Coral Springs, FL.  The company paid $8.9 million, or $139.28 per square foot. The seller is an undisclosed financial institution.

North Hills Square is anchored by a 52,024 square foot Wal-Mart Neighborhood Market which comprises 81% of the Center’s gross leasable area. Other major tenants include Wendy’s and Manhattan Bagel.  Overall, the shopping center is 97% occupied.

North Hills Shopping Center is located at 4650 University Drive, on the corner of busy University Drive and Wiles Road, servicing the densely populated areas of Coral Springs and the city of Parkland. Over 60,000 vehicles travel these roads near the area in any given day according to research data.

North Hills Shopping Center marks the third Florida retail purchase for Dizengoff-Trading Group in the past two years. It’s the second anchored with a Wal-Mart, the other being a 223,000 square foot Wal-Mart Super Center located in the Central Florida town of Winter Haven.  

Dizengoff-Trading Group has invested more than $70 million in Florida real estate since opening an office in Boca Raton two years ago. The company targets income-generating properties focused on open-air retail centers and bulk condo units at mid-rise and garden style multi-family complexes. In addition to the retail centers, it has made four bulk condo purchases in South Florida.

 Media Contact: Todd Templin and/or Jennifer Clarin, Boardroom Communications,  (954) 370-8999/Todd Cell: 954-290-0810


Thursday, April 21, 2011

Hendricks & Partners negotiates sale of 444-unit Pine Hills Apartment Property in Orlando for $5.5 million



ORLANDO, FL --- Hendricks & Partners, the nation’s leading multi-family property advisory group, recently negotiated the sale of Seville Place Apartments at 3124 N. Pine Hills Rd. in Orlando.

 Cole Whitaker, partner at Hendricks & Partners, who heads the firm’s southeast region, said Associate Partner Hal Warren negotiated the sales transaction.  Bob Hold of Hold Thyssen of Winter Park acted as Receiver for Seville Place Apartments.

 Seville Place Holdings, LTD of Orlando paid $5.5 million to acquire the 444-unit property.

 Built in 1973, Seville Place features five swimming pools, a playground, basketball and tennis courts, seven laundry facilities, car care center and a community clubhouse.

For more information,  contact:  
Hal Warren, Associate Partner, Hendricks & Partners, 407-218-8881, hwarren@HPAPTS.com
Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880, cwhitaker@HPAPTS.com
Larry Vershel, Larry Vershel Communications, 407-644-4142 or 407-461-3780, lvershelco@aol.com
  

Grubb & Ellis Selected to Market Tech Ridge Center in Austin, TX

  
AUSTIN, TX (April 21, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Tech Ridge L.P. has selected George Cushing, executive vice president, and Wendy Vandeventer, vice president, both members of the company’s Investment Services group, to market Tech Ridge Center (top left photo), a 331,144-square-foot grocery-anchored shopping center in northeast Austin.  The property will be marketed without an asking price, but is expected to sell for approximately $70 million. 

 “Tech Ridge Center is well located at the intersection of two of Austin’s primary thoroughfares and offers potential owners a strong net operating income of more than $4.6 million,” said Cushing.  “Adding to the property’s appeal is that the majority of its tenants are national companies, with a few regional retailers in the mix.”  

 Located at 500 Canyon Ridge Drive, Tech Ridge Center was built in three phases between 2001 and 2007 on roughly 60 acres of land situated at the southeast corner of Interstate 35 and Parmer Lane.  The property is 97 percent leased to numerous tenants, including H-E-B Grocery, one of the largest private employers in Texas; JCPenney Corporation Inc.; Office Depot Inc.; Petco Animal Supplies Inc.; Schlotzsky’s Franchise LLC; Bank of America N.A. and Cullen/Frost Bankers, Inc.  

 For more information, call 713.626.8888, or contact Cushing at george.cushing@grubb-ellis.com  , or Vandeventer at wendy.vandeventer@grubb-ellis.com.

 Contact: Julia McCartney,  Phone: 714.975.2230                                     
          


Grubb & Ellis’ Kevin Rude Assumes Responsibility of Company’s Southern California Management Services Portfolio

  
LOS ANGELES, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has expanded the responsibilities of Kevin Rude (top right photo), CCIM, RPA, senior vice president, director of Management Services, to include the Southern California region.

Rude has been responsible for the oversight of all property management activity in Arizona and Nevada for the past four years, and with the addition of Southern California, will oversee a total of 20 million square feet of space.  A 27-year veteran of property management, Rude will be based in Grubb & Ellis’ downtown Los Angeles office. 

“Since joining Grubb & Ellis in 2007, Kevin has been instrumental in business development, helping to add more than 9 million square feet of space to the company’s portfolio under management,” said Karen Whitt  (lower left photo), CPM, RPA, CRE, president, Property Management, Strategic Accounts of Grubb & Ellis Management Services.

“With his proven track record and wealth of relationships, I couldn’t be more confident of the service he will provide clients, as well as his ability to continue the growth of the business in Southern California.”

Under Rude’s direction, Phoenix was awarded the 2009 Grubb & Ellis Management Services District of the Year.  Prior to joining Grubb & Ellis, Rude served as a senior portfolio manager of Trammell Crow Company.  He also spent time with Parkway Realty, CommonWealth Partners LLC and Cushman & Wakefield.  Rude began his career in 1984. 

 He holds a bachelor’s degree from Fort Hays State University and is a member of the CCIM Institute, Building Owners and Managers Association and NAIOP.  Rude has also been approved as a receiver by the State of Arizona and has served as an instructor of the Arizona School of Real Estate & Business.   


Contact:  Julia McCartney, Phone: 714.975.2230                                     
          

Berger Commercial Realty Corp. Announces $2.5 Million Sale in Fort Myers, FL



FORT LAUDERDALE, FL – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced brokers Judy Dolan (top right photo) and Steve Hyatt  (top left photo) closed a $2.5 million sale in Fort Myers, Fla.

 The property, a 136-unit apartment complex located at 3726 Central Ave, was sold by Coral Gulf IV, LLC,  to RFH Advisors Palm Vista, LLC. The deal closed March 31. Dolan and Hyatt represented the seller.

Lloyd Berger (lower right photo) of Berger Special Assets, a division of Berger Commercial Realty Corp., previously served as receiver for the multifamily property, known as Palm Vista.

 The property consists of 12 two-story buildings and  features one-bedroom/one-bath and two-bedroom/two-bath apartment units, as well as amenities such as a clubhouse, playground, pool and fitness center. 

“We were able to resolve challenges facing this property in a cost-efficient manner and restored the asset's value,” said Lloyd Berger, founder and president of Berger Commercial Realty Corp.

Berger Special Assets, founded in 2008, serves as receiver, management company, and leasing agent to enhance the value of distressed commercial and multi-family properties across the state on behalf of lenders and financial institutions.

In another, unrelated transaction, Steve Hyatt closed the sale of a 10-unit apartment building located at 77 NW 77th St. in Miami for $315,000. Hyatt represented the seller, ECP Properties, Inc., in the sale to Greg Celentano, which closed March 25.

 For more information, visit http://www.bergercommercial.com/

 Contact:
Marielle Sologuren
Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL 33309
Phone: (954) 776-1999, ext. 226
Fax: (954) 776-0290
HighImpactDigital.com

CBRE Orlando Brokers sale of 200-Unit Vista Verde in Orlando


ORLANDO, FL--CB Richard Ellis is pleased to announce the sale of Vista Verde in Orlando.
Built in 1990, this luxury community features 200 units adjacent to the Metrowest Golf Course.

The property was 94% occupied at closing, and offers private garages, barrel tile roofs, and a full amenity package with a resort-style swimming pool.

Shelton Granade and Luke Wickham of CBRE’s Central Florida Multi-Housing Group exclusively represented the seller, and have closed over $111,000,000 in Orlando thus far in 2011 – more than the next three competitors combined.

Buyer interest in multi-housing assets in Central Florida has increased
significantly.

For further information, please contact:
Shelton Granade, T 407.839.3103, shelton.granade@cbre.com    
 Luke Wickham, T 407.839.3130, luke.wickham@cbre.com


Wednesday, April 20, 2011

New Condo Sales Prices Rise 14% In Greater Downtown Miami In Q1



MIAMI, FL--Buyers paid an average of 14 percent more for new units in Greater Downtown Miami -  the epicenter of Florida's condo crash - in the first 90 days of 2011 on a year-over-year basis compared to the same three-month span in 2010, according to a new report from CondoVultures.com.

As the prices for new developer units increased to $348 per square foot in 2011, the average number of sales dropped by 54 percent to 111 transactions per month in the first quarter, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Miami™.

A year earlier in the first quarter of 2010, buyers purchased an average of 239 new condos per month when prices averaged $306 per square foot, according to the report based on an analysis of Miami-Dade County records.

"Bulk buyers, lenders, and those few developers still involved with Greater Downtown Miami's unsold condo inventory have been working - and marketing - diligently for the last six months to increase the average market price to about $350 per square foot," said Peter Zalewski (lower right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"As Greater Downtown Miami heads into the humid summer months after a busy winter tourism season, the question is whether sellers will stand firm on their sales price objectives or roll back prices to generate more transaction velocity given the 29-month supply of unsold condo inventory."

Besides the unsold developer inventory in Greater Downtown Miami, there are more than 1,300 condos built during the boom currently on the resale market and more than 1,000 units being marketed by bulk buyers attempting to resell condos at a premium to individuals investors, according to the licensed Florida buyer brokerage Condo Vultures® Realty LLC. 

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

Grubb & Ellis Healthcare REIT II Acquires Medical Facilities in Arizona, Texas and Florida



SANTA ANA, CA /PRNewswire/ -- Grubb & Ellis Healthcare REIT II, Inc. announced that it has acquired, in three separate transactions, Yuma Skilled Nursing Facility in Yuma, Ariz., Hardy Oak Medical Building in San Antonio, and Lakewood Ranch Medical Office Building in Bradenton, Fla.  

"The acquisition of these properties was attractive to Grubb & Ellis Healthcare REIT II due to their proximity to well-managed medical centers and their financial performance," said Danny Prosky (top right photo), president and chief operating officer of the REIT.

As of April 8, 2011, Grubb & Ellis Healthcare REIT II has sold approximately 21,844,902 shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $217,954,000 through its initial public offering, which began at the end of the third quarter of 2009.

To date, the REIT has made 19 geographically diverse acquisitions comprised of 33 buildings valued at approximately $262 million, based on purchase price in the aggregate.

Contact: Damon Elder, +1-714-975-2659, damon.elder@grubb-ellis.com


Propp Realty Management Selects Grubb & Ellis to Lease 866,000-SF Office Portfolio in Denver Area

  

 DENVER, CO – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that Propp Realty Management has selected Victor Frandsen, executive vice president, Office Group, and John Gustafson, senior associate, Office Group, as the leasing agents of the company’s entire Denver-area portfolio, including 16 office buildings totaling 866,166 square feet of space.   

 “This portfolio is ideally suited for a wide range of uses, including general, technology or medical office needs,” said Frandsen.  “Tenants also enjoy stable and professional ownership under local commercial real estate veteran Daryll Propp and his firm.”

 The portfolio contains six properties available for lease in Lakewood, including: Academy Park Commons, Golden Hill Office Centre, Applewood Tech Center, Youngfield Park, Terrace Point and 12157 W. Cedar Drive. 

Also located in Lakewood is the Energy Star rated 155 Van Gordon St., a 148,000-square-foot building that is fully leased to the Department of Veteran Affairs, and 2850 Youngfield St., which offers 70,000 square feet of space and is fully leased by the Bureau of Land Management.   

For more information, call 303.572.7700, or contact Frandsen at victor.frandsen@grubb-ellis.com, or Gustafson at john.gustafson@grubb-ellis.com

Contact: Julia McCartney,  Phone:  714.975.2230                                     
          
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$21.6 Million Multifamily Loan Closes in Los Angeles


LOS ANGELES, CA– Marcus & Millichap Capital Corporation (MMCC) has arranged $21,630,000 in refinancing for a 276-unit multifamily property in Los Angeles.

Danny Abergel, a director in the firm’s Encino office, arranged the refinancing.

 “The property had extensive tuck-under parking which created substantial seismic issues,” says Abergel. “Most lenders require that the building be retrofitted prior to close but MMCC was able to source an agency lender that agreed to close the transaction first. The borrower used the refinancing proceeds to retrofit the property post-closing,” adds Abergel.

“As seismic requirements have tightened, properties that passed the test a few years ago will now fail,” Abergel continues. “Property owners are often faced with the choice of retrofitting or facing future financing difficulties.”

 “We solved the dilemma by bringing in an engineer who designed a retrofit plan that satisfied the lender and then we negotiated an economically feasible course of action for the borrower,” he says.

The loan is for 10 years, amortized over 30 years. The LTV is 70 percent.

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

Tuesday, April 19, 2011

Southern Commercial Completes 20,700-SF New Lease in Orlando



ORLANDO, FL. (April 19, 2011) Principals Tom McFadden, SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 20,700 SF new lease at 7570 Exchange Drive, Orlando, FL. 

McFadden and Bradford represented the Landlord, Dexus Industrial SPE Financed Portfolio, LLC.  The Tenant, NWP Group, LLC, was represented by Lisa Bailey with Morrison Commercial.

Media Contact:  Celeste MacKenzie, 321-281-8503, cmackenzie@southerncommercialre.com
                                                                    

Daly Gray Becomes Daly Gray Daly


Third Generation Daly Born, Plans Call for at Least Four More; Mother Says, “Not So Fast”




Daly Male Child Miraculously Born with Hair

HERNDON, VA, April 19, 2011—Daly Gray, the only public relations firm specializing in the business of hotels, today announced that it was changing its name to Daly Gray Daly, following the birth of the first member of a third generation of Dalys, a clan that was begun by Jerry Daly, who co-founded Daly Gray with his wife, Katheryn Gray.

  Finn Alexander Daly, the first offspring for Daly Gray President Chris Daly and bride Erika, arrived at approximately 1 a.m., April 15, sporting a full complement of fingers, toes and other appropriate accessories.

According to an unnamed company spokesperson, the child was miraculously born with hair, the first seen on the head of a male Daly in more than a decade.  “Because this borders on the supernatural, I’ve asked for a paternity test,” said Chris Daly. 

After some 15 hours of induced labor, Finn reached for his trusty lightsaber pacifier and said, “Enough of this I have had,” and proceeded to orchestrate his own C-section.  Mother Erika said, “Thank God he took matters into his own hands.  All Chris was doing was watching hockey playoffs.”

Daly Gray founders Gray and Daly indicated that they have completed a strategic plan that calls for expanding the company over time to Daly Gray, Daly, Daly, Daly, Daly & Daly, but have met with some resistance from the mother of baby Finn.

 “We’ll give her a few months, or as long as it takes for the pain of childbirth to become a dim memory,” the senior Daly said.  “Once she forgets, we’ll reintroduce it.” 

“I like the idea of adding more Dalys to the Daly Gray company name,” said Uncle Patrick Daly, account supervisor at Daly Gray.  “It has a nice ring to it.”

The child has been pre-enrolled at Cornell School of Hotel Administration, majoring in English, on a full hockey scholarship. 

The grandparents are taking out extra insurance because the child’s father could neither stop nor skate backwards before signing up to play ice hockey.  His storied career was highlighted by breaking his leg while walking off the ice six weeks before his wedding.

The name Finn was chosen, according to his father, after the Irish Legend Finn McCool, who built The Giant’s Causeway to Scotland to fight another giant.

 In what Chris Daly says is strictly a coincidence, the Causeway begins just three miles from Bushmills, Ireland.

 According to his grandmother Katheryn, a Parrothead, Finn is in honor of the Jimmy Buffet classic, Fins.

The child was torn from his mother’s arms two minutes following the birth and taken to a darkened room by his father, where Finn was immediately indoctrinated with a non-stop viewing of the original Star Wars trilogy.

  “A good thing I wear diapers, it is” he said.  “Four hours without a potty break is hard on the kidneys.  I’ve been forbidden to watch the ‘new’ Star Wars for fear that it will rot my brain and cause me to write press releases using inane words like ‘thrilled,’ ‘excited’ and ‘pleased’.”


                        Grandpa Jerry Gray and newborn Finn Alexander Gray

Finn already has started posting on his father’s music blog, www.oddbloggings.com (see attached photo).  “I can’t believe the garbage he listens to,” he said.  “Thank God I got a blues guitar from my grandfather so I can play real music.”

Chris Daly has taken a two-week paternity leave to take Finn to the Planet Dagobah to study with a small green creature and learn how to become a Jedi Flack.

 “We have a jam-packed schedule that includes 123 really bad Kung Fu movies, plus I plan to read him the original Batman series,” the father said.

  Grandfather Daly noted that Batman was Chris’s first career choice but that he was forced to switch to Plan B (Jedi Flack) when his flat feet prevented him from passing the physical.

 About Finn Alexander Daly

Weight:  8 pounds, 9 ounces
Height:  21 inches
Hair:  Yes, more than the father and grandfather combined.
Eyes:  Blue, no glasses at this time

Hobbies:  Watching Star Wars, really bad Kung Fu movies and hockey (see attached photo) with the old man; knitting with Mom, jamming the blues with Grandpa Daly and Uncle Jason; reading the classics, like The Cat in the Hat with Aunt Shannon; world travel with Uncle Patrick; attending multiple freshman years in college with Uncle Andy; and editing really bad press releases with “Auntie” Carol McCune and distributing them with “Auntie” Julie Tullbane; and most satisfying, writing press releases that sound really interesting but don’t provide any facts.

Scholarship Opportunity:  Contributions to the Finn Alexander Daly Scholarship Fund, a 501c, non-profit tax dodge, may be made by sending small unmarked bills in a plain brown envelope to Daly Gray Daly headquarters in Herndon, Va.

Contact:  Finn Alexander Daly (my dad is on paternity leave)
(703) 435-6293

Commercial Real Estate Executive Chris Sausser Joins Jones Lang LaSalle as Senior Vice President in Orange County, CA


 IRVINE, CA, April 19, 2011 – Jones Lang LaSalle today announced that commercial real estate veteran Chris Sausser (top right photo) has joined the company as a Senior Vice President in the firm’s brokerage division.

  Sausser will specialize in advising tenants with their real estate needs in Orange County and across the globe.

“Chris has spent that past seven years in Korea working with companies on their real estate needs.  He chose Jones Lang LaSalle because of its international platform, culture and ability to service his clients around the world,” said Jones Lang LaSalle Senior Managing Director Jeff Ingham. “We look forward to working with him as a member of the JLL team.”

Sausser joins Jones Lang LaSalle from an international development and investment firm where he was responsible for all leasing and joint development activity for 100 million square feet of planned commercial space.

 Previously, he spent 33 years in commercial real estate brokerage, providing real estate solutions to some of the nation’s premier companies. He has been recognized numerous times as a top producer in the industry.

 For further information, please visit our website, http://www.joneslanglasalle.com/

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351
(c) 949.278.7851, david@ebelingcomm.com

NAI Realvest Negotiates New Industrial Leases totaling 18,298 SF at Countyline Industrial Park and Hanging Moss CommerCenter in metro Orlando



ORLANDO, Fla. – NAI Realvest negotiated two industrial lease agreements totaling 18,298 square feet at the Hanging Moss CommerCenter (top left photo) in Orlando and at Countyline Industrial Park in Oakland in West Orlando.

 Michael Heidrich, principal at NAI Realvest brokered both transactions on behalf of the landlords. 

 Goodman Distribution, Inc. based in Houston, signed a new 62-month lease for suites 1 and 2 with 16,298 square feet at 100 Countyline Court in the Countyline Industrial Park off Highway 50 and the Florida Turnpike.   Brent Landry of Transwestern and Mark Stratman of Jones Lang LaSalle represented the tenant.

 In the Hanging Moss CommerCenter Heidrich negotiated a three-year lease for 2,000 square feet with new tenants Henry Auad and Fabian Pinilla at Suite 430, 6112 Hanging Moss Road representing the landlord Maitland-based COP-Hanging Moss, LLC.   Mike Sigrist of Compass Investment Properties represented the tenants. 

For more information, contact

Michael Heidrich, Principal, NAI Realvest 407-875-9989 or mheidrich@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

HFF secures $35 million refinancing for Los Angeles area grocery-anchored retail center


 LOS ANGELES & SAN FRANCISCO, CA – HFF announced today that it has secured a $35 million refinancing for Oceangate Commerce Center (top left photo), a 182,743-square-foot, grocery-anchored retail center in Hawthorne, California.

Working exclusively on behalf of the borrower, The Arba Group, HFF placed the 15-year fixed-rate loan with AIG Asset Management.  The loan, which has a 30-year amortization schedule, will be serviced by HFF and is refinancing maturing debt on the property.

Oceangate Commerce Center is located at the intersection of Rosecrans Boulevard and Interstate 45 close to Los Angeles International Airport and Century City. 

Completed in 1996, the property is fully leased to tenants including Food 4 Less, Ross, Sportsmart, Michaels, Payless, Starbucks and Verizon.  Oceangate Commerce Center is part of a larger retail center that is shadow-anchored by Home Depot and Best Buy, among others.

The HFF team representing The Arba Group included managing directors Peter Smyslowski (middle right photo) and Mark Wintner (lower left photo). 

“This opportunity drew a wide range of interest from capital providers, as all the anchor tenants had sales per-square-foot performance that exceeded typical industry benchmarks,” said Smyslowski.

The Arba Group is a real estate development and management company primarily focused on investments in the Los Angeles area.  The Arba Group currently controls a portfolio of assets comprising approximately 1.3 million square feet of institutional quality real estate.

Contacts:    
Peter Smyslowski, HFF Managing Director, (415) 276-6300 psmyslowski@hfflp.com
Mark Wintner, HFF Managing Director, (310) 407-2100, mwintner@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500
           

Smith Consulting Architects-Designed Building Reuse Project for Downtown San Diego Senior Center Achieves Leed Gold


SAN DIEGO, CA. – (April 18, 2011) – The new Gary and Mary West Senior Wellness Center (top left and bottom right photos), which was adapted from a former 17,460-square-foot auto dealership originally built in 1927, has officially received LEED-NC Gold Certification from the U.S. Green Building Council (USGBC).

 Located at the northeast corner of Fourth Avenue and Beech Street at 1525 Fourth Avenue, the once vacant building was fully restored to bring vibrant purpose to downtown San Diego, serving the region’s growing senior population.

 Smith Consulting Architects, based in Carmel Valley, provided full design services for the $2.4 million remodeling project. Senior Community Centers, in partnership with HomeAid San Diego, is the developer. Ledcor Construction, Inc. served as the general contractor.

 The new Gary and Mary West Senior Wellness Center replaced the Senior Community Centers' former downtown facility at Ninth and Broadway, and provides a state-of-the-art, one-stop health and wellness hub for low-income seniors.

The new facility serves as a model for healthy aging that can be replicated in other cities across the United States. Its design and construction were made possible through a lead gift of $3 million from the Gary and Mary West Foundation.

Smith Consulting Architects was tapped by Senior Community Centers for the project based largely on the design firm’s green building knowledge and past achievements.

At the onset, Scott Cairns, LEED AP, who served as lead architect for Smith Consulting Architects, led a LEED design charette to help fully commit the project team to the goal of achieving LEED Gold Certification. Sustainable priorities included reuse of the existing building, and recycling demolition waste to keep materials out of landfills. 

 Supporting Cairns for Smith Consulting Architects were Gary Baker, Vice President Design, LEED AP, Jaime Ramirez, LEED AP, as project manager and Erica Hutchinson, LEED AP, as interior designer.

Russell Hamilton was principal-in-charge for Ledcor Construction, with Michael Strangman as senior estimator, Rob Campbell as project manager, and Jerold Yoder as superintendent.

 Ron Sutliff was principal-in-charge for IPM, with Kevin Kearn acting as senior project manager. Alexis Parker was the HomeAid project lead and Tom Lunneberg served as LEED Commissioning Authority.

 Subcontractors included RCP Block & Brick, Brian Cox Mechanical, Inc., Edward Shedly Concrete & Masonry, Fullerton Glass Company, Industrial Fire Sprinkler Co., McBride Electric, Casper Construction Company, Saber Plumbing Company, East County Tile, and DA Whitacre Construction, Inc.

  More information about the firm can be found on the Web at http://www.sca-sd.com/.

 Contact:: Bonnie Kutch, (619) 299-1010, bkutch@kutchco.com


Plaza Advisors Announces Sale of Northwood Plaza in Clearwater, FL


 CLEARWATER, FL, April 19, 2011---Plaza Advisors is pleased to announce the sale of Northwood Plaza (top left photo) in Clearwater, Florida.

 The shopping center is situated at the intersection of McMullen Booth Road and Enterprise Road and totals 200,000 square feet of gross leasable area.

The major tenants include; Publix, Stein Mart, CVS, Talbots, Anthony’s Coal Fired Pizza and Starbucks. The asset was constructed in 1980.  The property was 91% leased at the time of sale.

The sale of the Northwood Plaza marks the fourth Publix anchored center sold by Plaza Advisors over the past eight months and the fifteenth retail transaction over the past 24 months.

Plaza Advisors represented the seller in the transaction and co-managing partners Jim Michalak (middle right photo) and Anthony Blanco (middle left photo), together with Senior Financial Analyst, Lenard Williams (lower right photo) were involved in the engagement. The seller and buyer were Northwood Plaza, LLC and AEW Capital Management L.P., respectively. 

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties in the southeastern United States. The firm has offices in Tampa and Miami. 

 Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks. 

Co-managing partners Jim Michalak and Anthony Blanco have a combined 40 years investment brokerage experience. The duo has closed over 146 shopping center transactions, with a combined GLA exceeding 16 million square feet with an aggregate sales volume in excess of $2.5 billion.


Tampa Office                                                 Miami Office                                     

Jim Michalak                                               Anthony Blanco                                            
3412 Bay to Bay Boulevard                      5201 Blue Lagoon Drive, Suite 846
Tampa, FL 33629                                       Miami, FL 33126
OFFICE: 813-837-1300                             OFFICE: 305-629-3606
FAX: 813-831-2627                                    FAX: 305-647-6441