HFF closes sale of Village Mall in Danville, IL

  

CHICAGO, IL – HFF announced today that it has closed the sale of Village Mall,(top left photo)  a 480,759-square-foot regional mall in Danville, Illinois.

HFF marketed the property on behalf of the seller, LNR Partners, Inc.  Tabani Group purchased Village Mall free and clear of debt. 

Village Mall is situated on 41.14 acres at 2917 North Vermilion Street directly north of Interstate 74 in Danville.  The property was originally built in 1978 and renovated in 1999.  Tenants at the 64 percent leased mall include Elder-Beerman, Sears, Covington Foods, AMC Theatres and Pet Supplies Plus. 

The HFF team representing the seller was led by managing directors Jaime Fink and Jeff Bramson.

Tabani Group owns more than three million square feet of retail, hotel and office properties throughout the United States.

Contacts:   

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

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

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

krmurphy@hfflp.com

                 

Colliers International Completes Sale of 78,021-SF Industrial Property for $3.9 Million in Chino, CA

 CHINO, CA, May 17, 2011  - Colliers International, the second largest global real estate services organization, has completed the sale of a 78,021-square-feet industrial building located at 5740 Schaefer Ave., (top left photo) Chino, Calif. to a Massachusetts-based aerosol cans manufacturing and distribution company, Shield Packaging of California. The transaction is valued at $3.9 million.

Brad Yates, vice president, and Richard Schwartz, vice president, based in Colliers International’s Inland Empire office represented the buyer. The seller, MRC Properties, LLC, was represented by Larry Null and Douglas Earnhart of Lee & Associates.

 “Shield Packaging has been out in the market for several years in search of another facility for overflow storage of existing product,” said Yates. “Richard and I brought the Schaefer building to Shield late last year and discussed an opportunity to move their storage requirement to the Schaefer facility.” 

“With several offers in play, Shield was willing to make a full price offer on the property. The seller accepted the offer, and we were able to successfully close escrow in under 90-days,” added Schwartz.

 Built in the 1970s, the property is an older metal building with 78,021-square-feet of industrial space and 5,622-square-feet of office space. It offers seven ground level doors, two dock high doors with 2,000 Amps of Power, 20’clear height, and 5.5 acre parcel size.

Colliers International Negotiates 82,080-SF Industrial Lease in Santa Fe Springs, CA

May 17, 2011 Santa Fe Springs, Calif.  – Colliers International, the second largest global real estate services organization, recently negotiated a 45 month 82,080-square-feet industrial lease located at 12991 Leffingwell, Santa Fe Springs, Calif. The transaction is valued at $1.9 million.  

 The property was built in 2000 and will be used as a distribution center for light assembly and manufacturing by the new tenant.

 Clyde Stauff, SIOR, senior executive vice president based in Colliers International’s Irvine, Calif. office and Stephen C. Calhoun, SIOR, senior executive vice president based in Colliers Commerce, Calif. office represented the landlord, Golden Springs Development Company. The tenant, Hydrofarm, Inc., a manufacturer/distributor of hydroponics equipment and grow lights based in Petaluma, Calif. was represented by Steve Sprenger and Randy Lockwood of Grubb & Ellis.

 “One of the key elements in Hydrofarm’s decision to lease space in Golden Springs was the high hazard, ESFR sprinkler system and 32’ minimum ceiling clearance which allowed for high pile storage to 30’.  The 5.3 million square foot Golden Springs project includes such tenants as Amway, Thyssen Krupp, and HD Supply (a division of Home Depot)” said Stauff.

 Contact:

Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

www.colliers.com

Manatee Chamber and Sarasota County EDCs with CEO Nexus and GrowFL to co-host CEO Nexus Forum June 7 at Hoveround Corp. in Sarasota, FL

 SARASOTA, FL --- The Economic Development Council of the Manatee County Chamber of Commerce and The EDC of Sarasota County in conjunction with CEO Nexus and GrowFL will co-host a CEO Nexus Forum Tuesday, June 7 from 5:30 to 7:30 p.m. at Hoveround Corporation, 2151 Whitfield Industrial Way in Sarasota.

Steve Quello (top right photo), president of CEO Nexus– a firm that works with public and private organizations to serve growing businesses – said Hoveround Corporation Chief Executive Officer Tom Kruse (lower left photo) will be the featured speaker for the program.

Kruse, who began his career 30 years ago, today heads the largest direct-to-consumer manufacturer of maneuverable and compact power chairs in the U.S.    He will tell the unique story of how he built a thriving company based on a need he identified.

The CEO Forum is open to business owners and CEOs who are leaders of established second-stage businesses, Quello said.  Admission is free. 

The program will begin with networking opportunities from at 5:30 p.m. to 6 p.m.

Kruse will take the stage from 6 p.m. to 7 p.m. for a presentation and Q&A, followed by a post-forum networking session until 7:30 p.m.

For more information, to qualify and RSVP contact Joan McGill 941-309-1200 ext. 107 or Jmcgill@edcsarasotacounty.com  by June 2.

For more information,contact:  

Steve Quello, President/Principal, CEO Nexus 407-590-6101, squello@ceonexus.com

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

  

Crossman & Company Earns Regions Top CoStar Power Broker Awards

 ORLANDO, FL --- Crossman & Company, the Orlando based commercial real estate company that ranks as one of the largest retail property management, leasing and development companies in the Southeast, recently earned seven of the top CoStar Power Broker awards.

John Crossman, president of Crossman & Company, said CoStar named Crossman & Company one of the Central Florida region’s top leasing firm and the region’s top retail leasing brokers.

 Six associates at Crossman & Company also earned CoStar Power Broker awards: Ashley Thornburg (top left photo); Courtney Kowalchuk (lower right photo), vice president of leasing; Daniel Germano, senior associate; Katherine Rush (top right photo); Justin Greider, vice president and director of leasing; and Whitaker Leonhardt.

For more information, contact:

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

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

Marcus & Millichap Capital Corp. Names Raymond C. Allen Associate in Seattle Ofice

SEATTLE, WA– Marcus & Millichap Capital Corporation (MMCC) has named Raymond Allen (top right photo) an associate in the firm’s Seattle office, according to William E. Hughes, senior vice president and managing director of MMCC.

“Raymond has impressed us with his track record of arranging commercial real estate financing in Southern California,” says Hughes. “While in a new market, he brings a strong record of successful debt placement on multifamily, office, retail, industrial, hospitality and automotive properties to his new position.”

Prior to joining MMCC, Allen was a vice president at Capital Real Estate Finance Inc. in San Diego. He has also held positions a production manager at Cintiva Financial Corp. and as a branch manager and account executive at Ameriquest Mortgage Corp.

Allen received a Bachelor of Arts degree in communication from Washington State University.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation

(925) 953-1716

http://www.mmcapcorp.com/

HFF closes $13.7 million sale of Village Shoppes of Flowery Branch in northern Atlanta

ATLANTA, GA –HFF announced today that it has closed the sale of Village Shoppes of Flowery Branch (top left photo), a 92,985-square-foot, grocery-anchored shopping center in northern Atlanta. 

HFF marketed the property on behalf of the seller, institutional investors advised by J.P. Morgan Asset Management - Global Real Assets.  Kimco Realty Corporation purchased the center for $13.7 million and assumed an existing mortgage loan. 

Village Shoppes of Flowery Branch is located at 5900 Spout Springs Road close to the Interstate 985/Spout Springs Road interchange in northern Atlanta.    Completed in 2002, the 92 percent leased property is anchored by Publix. 

The HFF team representing the seller was led by directors Richard Reid and Jim Hamilton.

“The property attracted a lot of investor interest due to its Atlanta location, strong grocery anchor, and regional draw on Interstate 985,” said Reid.

Contacts:

Richard M. Reid, HFF Director, (404) 942-2209, rreid@hfflp.com

Jim R. Hamilton, HFF Director, (404) 942-2212,

jhamilton@hfflp.com

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

krmurphy@hfflp.com

HFF closes $24.7 million sale of North Raleigh shopping center

ATLANTA, GA –HFF announced today that it has closed the sale of Wakefield Commons (top left photo), a 160,949-square-foot, grocery-anchored shopping center in North Raleigh, North Carolina.  

HFF marketed the property on behalf of the seller, institutional investors advised by J.P. Morgan Asset Management – Global Real Assets.  The property was purchased for $24.7 million and the buyer assumed an existing CMBS loan on the property. 

This is HFF’s third grocery-anchored sales transaction with JP Morgan in 2011 totaling $61.7 million in sales.  The other two properties sold are: Westpark Shopping Center in Richmond, Virginia and The Village Shoppes of Flowery Branch in Atlanta, Georgia.

Wakefield Commons is located at 14460 New Falls of Neuse Road at the Capital Boulevard (U.S. 1) and New Falls of Neuse Road interchange in North Raleigh. 

Originally built in 2000 and renovated in 2005, the property is 86 percent leased to tenants including Kroger, Marquee Cinemas, and Starbucks.

The HFF team representing the seller was led by directors Richard Reid (middle right photo)  and Jim Hamilton (bottom left photo).

Contacts:

Richard M. Reid, HFF Director, (404) 942-2209, rreid@hfflp.com

Jim R. Hamilton, HFF Director, (404) 942-2212,

jhamilton@hfflp.com

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

krmurphy@hfflp.com

Midtown Atlanta Block on the Block

Bull Realty’s Daniel Latshaw Lists 2.5-acre Tract near Fox Theatre

ATLANTA, GA (May 17, 2011) – Bull Realty said today it has listed for sale a high-profile 2.5-acre tract near the Fox Theatre in Midtown Atlanta for short sale. The property covers nearly an entire city block, nestled between Ponce De Leon Avenue, Piedmont Avenue, North Avenue and Juniper Street.

 The property is entitled for 1.4 million square feet of mixed-use or commercial development. The lender expects to accept a short-sale offer for less than the loan balance and anticipates a quick, clean closing.

“The tract offers an incredible opportunity to create a major mixed-use or retail project in the city’s most-vibrant 24-hour district,” said Daniel Latshaw (bottom right photo), a partner at Bull Realty. “These types of tracts do not come to the market too often, so we expect a lot of interest.”

The property currently comprises three buildings totaling 75,000 square feet. Tenants such as Midtown Urology Center occupy two of the buildings, and the third building is vacant. SPI-16 zoning allows versatility for the incoming business models including office, retail, medical, hotel, multifamily, assisted living, or student housing.

 In 2008 the property was appraised at $27.3 million. Currently the property is offered un-priced but the approximate loan balance is $11 million.

Bull Realty already has received offers from interested buyers. The deadline to submit an offer is 5 p.m. June 3. For more information, pictures, videos and maps visit the listing here.

 www.BullRealty.com 

 Media Contact: Christin Clay, Wilbert News Strategies, 404-965-5025, 

 m 404-405-2354, cclay@wilbertnewsstrategies.com

Twitter: @christinclay10

CBRE Orlando Closes Sutton Place Apartments

ORLANDO, FL--CB Richard Ellis is pleased to announce the sale of Sutton Place (top left and bottom right photos) for $18,180,000.

Built in 1986, this gated community features 288 units in the Winter Park submarket of Orlando.

 The property was 93% occupied at closing, and features two swimming pools, a fitness center, and racquetball and tennis courts.

Shelton Granade and Luke Wickham of CBRE’s Central Florida Multi-Housing Group exclusively represented the seller, and have closed over $154,000,000 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 the Central Florida Multi-Housing Group of CB Richard Ellis:

Shelton Granade T 407.839.3103 shelton.granade@cbre.com

Luke Wickham T 407.839.3130 luke.wickham@cbre.com

McCarthy Building Companies Completes Construction of Net Zero Parking Structure at Long Beach City College

 LONG BEACH, CA (May 16, 2010) – McCarthy Building Companies, Inc. recently completed construction of a net-zero design-build parking structure at Long Beach City College (LBCC) Liberal Arts Campus (top left photo).

Located near the southwest corner of Carson Street and Clark Avenue in Long Beach, the new parking structure was opened during a dedication celebration on March 29, 2011.

 The $19 million construction project was built with Measure E facilities bond money approved by the voters in 2008. McCarthy served as general contractor for the 900-car parking structure along with design partner Choate Parking Consultants. 

The project included construction of a 295,485-square-foot cast-in-place, long span, post tensioned concrete parking structure as well as a revitalization of the former campus golf mall now renamed The Campus Green.

Other project team members included: Construction Manager Cordoba Corporation; LBCC Director of Facilities Tim Wootton; LBCC President Eloy Ortiz Oakley; Paul Coleman Architect, Inc.; Ficcadenti & Waggoner Consulting Structural Engineers; Empire 3 Consulting Engineers, TKSC Consulting Mechanical Engineers; Pfeiler & Associates Engineers and AHBE Landscape Architects.

Contact: 

Laura Mickelson (LM Communications),  (949) 453-0851

Susan Garritano (McCarthy Building Companies, Inc.) (314) 968-3300              

              

Marcus & Millichap Capital Corp. Names Kevin Thurman Associate in Washington, D.C. Office

  

 WASHINGTON, D.C., May 16, 2011 – Marcus & Millichap Capital Corporation (MMCC) has named Kevin Thurman (top right photo) an associate in the firm’s Washington, D.C., office, according to William E. Hughes, senior vice president and managing director of MMCC.

“Kevin has an impressive track record of arranging commercial real estate financing on the East Coast,” says Hughes. “He has experience in arranging debt and equity finance transactions for multifamily, office, retail, industrial, and hospitality properties to his new position.”

Prior to joining MMCC, Thurman was a senior account executive at CoStar Group Inc. He has also been a vice president, commercial real estate lending, at CU Business Capital LLC and a senior commercial real estate loan consultant with Washington Mutual Inc. 

Thurman received a Bachelor of Science degree in economics from Towson University and began postgraduate studies in the MS in real estate program at John Hopkins University.

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

Crossman & Company Executives to Play Starring Role at Upcoming ICSC Convention in Las Vegas

 ORLANDO, FL --- Crossman & Company, the Orlando-based commercial property firm that ranks as one of the largest retail property specialists in the Southeast, will play a big role at the upcoming International Council of Shopping Centers (ICSC) Recon Convention in Las Vegas starting May 22.

 John Crossman, president of Crossman & Company, said top executives at Crossman & Company have earned speaker spots at the convention.

 Crossman, associate Whitaker Leonhardt (top left photo), and Justin Greider (bottom right photo), vice president and director of leasing, will speak on the First Timer’s Orientation Panel, May 22, Crossman said.

Courtney Kowalchuk (top right photo), vice president of leasing will head a breakfast roundtable on May 23 with an interesting topic: “Finding Tenant’s Where None Exist — Creative Ways to Lease Retail Space.”

 Kowalchuk said the panel’s discussion will cover finding temporary and short term tenants, working with the public sector and using social media.

 Senior associate Daniel Germano will head a breakfast roundtable May 23 for college students: “How to Make the Most of ICSC and Recon.”

 “We’re going to focus on how to find contacts at Recon that will lead to a job in the industry,” Germano said.

For more information, contact:

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

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

TD Wood Brokers Loans in Tarpon Springs, FL and Orlando

ORLANDO, FL, May 16, 2011— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,574,600 for Dollar General and Manuel Lindiakos, PA.

Joe Dear (top right photo), Company Vice President, secured financing for Dollar General through Thomas D. Wood and Company’s relationship with a local bank in the amount of $1,250,000. 

The construction/mini-permanent loan has a term of three years, the first 12 months are interest-only, based on a 20-year amortization.  The interest rate is Prime + 1%, with a floor of 4.25%. 

The loan-to-value is 75% and loan-to-cost is 80%.  The borrower needed a construction loan for a build-to-suit single-tenant retail facility. The 9,100 square-foot retail building will be built on 0.92 acres in Orlando, Florida.

Doug Rozzell (middle left photo), Company Principal, secured financing for Manuel Lindiakos, PA, through Thomas D. Wood and Company’s relationship with a local bank in the amount of $1,324,600.

The fully-amortizing loan has a term of 20 years, based on an interest rate of 4.95% for the office and 6.75% for the land.  The loan-to-value is 80% on the office and 50% on the land.  The borrower had two loans mature and was able to refinance into one new loan. 

The 8,595 square-foot office building was built in 1985 and is located at 222 E. Tarpon Avenue; the 9.05 acres of land on the loan are located at 625-631 Jasmine Avenue, Tarpon Springs, Florida.

For further information, please contact:

Joe Dear, (407) 937-0470, jdear@tdwood.com

Doug Rozzell, (407) 937-0470, drozzell@tdwood.com

Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com

Procacci Development Corp. to Build Hurricane-Resistant, Leed-Certified Citizenship & Immigration Services Facility Near Tampa, FL Airport

 BOCA RATON, FL (May 16, 2011) – Procacci Development Corporation, the leader in the design and creation of buildings constructed to resist hurricane-force winds and maximize energy efficiency, broke ground today on a new Tampa facility for the U.S. Citizenship and Immigration Services (USCIS) that has been designed to deliver both.

 The building, located on 6.5 acres just north of the Tampa International Airport at 5629 Hoover Blvd., is the latest to incorporate the developer’s “Built Procacci Strong” construction concepts. These leading-edge facilities incorporate hurricane-resistant attributes to protect tenants from water and wind damage in excess of the Florida Building Code.

 In the event of a major storm, the building and its infrastructure are protected from damage and operations can continue with a diesel back-up generator. By incorporating the design elements necessary to achieve LEED Silver Certification, the General Services Administration (GSA) will realize reductions in electrical consumption and environmental impacts while affording the occupants a safer, healthier workplace.

 Contact: Todd Templin, Boardroom Communications, 954-370-8999 or 954-290-0810,  ttemplin@boardroompr.com

HFF arranges $14.35 million financing for modern bulk warehouse facility in suburban Indianapolis

  

 

INDIANAPOLIS, IN – HFF announced today that it has arranged $14.35 million in financing for Airwest IX (top left photo), a 481,965-square-foot modern bulk warehouse facility in the southwestern Indianapolis suburb of Plainfield, Indiana.

Working exclusively on behalf of Founders Properties, LLC, HFF placed the seven-year, fixed-rate first mortgage acquisition financing with Allianz of America, Inc.

Airwest IX is situated on more than 40 acres at 2675 Reeves Road within the Plainfield Business Center at Airwest, a 490-acre business park located close to the Indianapolis International Airport and the FedEx hub.  Completed in 2007, the property is fully leased to two tenants: Sara Lee and Brightpoint.

The HFF team representing Founders Properties, LLC was led by managing directors Jon Everson (middle right photo)  and Tim Joyce (lower left photo). 

 “Airwest IX is very well located within the Plainfield submarket with immediate freeway access along I-70 and a full complement of amenities found in modern Class A industrial distribution facilities,” said Everson.

Headquartered in Minneapolis, Founders Properties, LLC is a privately-held company that has sponsored eight real estate investment funds since 1997, investing a total of more than $2.6 billion. 

Founders provides a full range of acquisition, financing, asset management and investment services for high net worth investors, continuing the legacy of sponsoring private real estate investments that first started in 1997.

Contacts:   

Jonathan P. Everson, HFF Managing Director, (317) 630-3191 jeverson@hfflp.com

Timothy J. Joyce, HFF Managing Director,  (312) 528-3650, tjoyce@hfflp.com

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

krmurphy@hfflp.com

         

2010 CoStar Power Broker Awards honors five C&W-Orlando agents

 ORLANDO, FL – May 16, 2011–Cushman & Wakefield announced that CoStar Group has again recognized the Orlando branch as a top brokerage for sales and leasing in 2010.

Additionally, five C&W-Orlando brokers were honored as Power Brokers based on sales and leasing transaction in 2010.

Cushman & Wakefield-Orlando – Top Sales Firm, Top Leasing Firm

•          Mindy Boehm – Top Retail Leasing Broker

•          Lee Morris – Top Industrial Leasing Broker

•          Jared Bonshire – Top Industrial Leasing Broker

•          Jay Ballard – Top Sales Broker

•          Ken Delvillar – Top Sales Broker

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

http://www.cushwake.com/

The Marketing Directors Achieves Sellout Ahead of Plan of Paramount at Buckhead in Georgia

ATLANTA, GA – The Marketing Directors announced the sellout of all 300 condominiums at Paramount at Buckhead (top left photo) located at 3445 Stratford Road NE in Atlanta. 

The Marketing Directors created and implemented an aggressive marketing campaign designed to sell out the final 20 homes by April 31.

  They beat the goal date by a month, achieving an impressive velocity of 20 homes sold in 90 days and placing Paramount number two in total sales for the first quarter of 2011 in the Buckhead submarket and number three in total sales in Atlanta.

 “The building is a landmark in Buckhead and we were proud to be a part of this milestone,” says David Tufts (middle right photo), president of The Marketing Directors.  Director of Sales Lisa O’Connor’s team included agents Michael Rosser and Michael McLeod, who was added to handle the overwhelming traffic at the building.

 Paramount at Buckhead, LLC purchased and converted the luxury high rise in 2005.  The 40-story 300-unit high rise is the latest success story for The Marketing Directors this year.  The Marketing Directors also recently sold out Huff Heights in Atlanta and handles sales and marketing for Serrano, the fastest selling condo project in Atlanta, where 92 condominiums have sold since September.

 “We were thrilled with the first class job The Marketing Directors did as the exclusive sales and marketing agency for us,” says Tazha Moore, Vice President of Paramount at Buckhead, LLC.  “They implemented an innovative marketing strategy and provided consistent pricing analyses to stay ahead of the competition.”

Since 2008 pricing for Paramount at Buckhead averaged $246,204 for one bedrooms, $369,743 for two bedrooms and $604,025 for three-bedroom homes.

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

 or find us on Facebook.

Contact:

Liz Lapidus/Traci Buch, Liz Lapidus Public Relations, 404.688.1466

traci@lizlapiduspr.com

EagleBridge Capital Arranges $3 Million Mortgage for Natick, MA Office Building

Boston, MA, May 16, 2011---EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $3,000,000 for 313 Speen Street (top left photo) in Natick, MA

The mortgage financing was arranged by EagleBridge principals Ted. M. Sidel (middle right photo) and Brian D. Sheehan (lower left photo) who stated that the loan was provided by regional financial institution.

313 Speen Street is a 59,500 square foot office building located on a 3.84 acre site just off Route 9 and convenient to the Massachusetts Turnpike.  The two-story building has a brick exterior façade.  313 Speen Street features a large two-story interior, comfortably furnished, sky lit courtyard.  Parking is available for 224 vehicles.

Tenants include Battelle Memorial Institute, MetoWest Orthopedics and Sports Medicine, Nasuni Corporation, Clinivation Inc., and Bright Horizons Child Care Center. 

 Located nearby are numerous office buildings, shopping centers, restaurants, and hotels. 

Mr. Sidel and Mr. Sheehan stated, “We are pleased that EagleBridge was able to structure long term non-recourse financing at a very attractive rate.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for industrial, office, and r & d buildings,  shopping centers, apartments, hotels, condominiums and mixed use properties as well as special purpose buildings.

Contact: Ted Sidel, (617) 292-7177, Ext. 10

http://www.eaglebridgecapital.com/

Marcus & Millichap Sells 100-Unit Apartment Property in Tampa, FL for $2.5 Million

TAMPA, FL, May 16, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sandanay and Stonehenge (top left photo), a 100-unit apartment property located in Tampa, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $2,500,000.

Casey Babb (middle  right photo), CCIM, a senior investment specialist, and Luis Baez (lower left photo), investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the sellers, a partnership based out of Florida. 

Babb made the following comments regarding this transaction. “As far as we know, Sandanay-Stonehenge was the first non-distressed property to trade in the University Tampa submarket in over three years.

“The seller had owned the property for over 15 years and financed 74 percent of the purchase price for the buyer, who was a foreign investment group with holdings in Europe, Canada, the Midwest and now Southwest Florida, which was instrumental in getting this deal closed.”   

Sandanay and Stonehenge are located at 13132 North 19th Street.   Both properties are contiguous and were built in the late 1960s of concrete block construction with either pitched single or built-up tar and gravel roofs.  They are housed in four two-story garden apartment buildings on 2.3 acres.

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

National Retail Properties, Inc. Declares Dividend for Its Series C Preferred Stock

    

 ORLANDO, FL, May 16, 2011 /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a quarterly dividend on its Series C Cumulative Redeemable Preferred Stock of 46.09375 cents per depositary share payable June 15, 2011, to shareholders of record on May 31, 2011.  The dividend represents an annualized rate of $1.84375 per depositary share.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of March 31, 2011, the company owned 1,223 Investment Properties in 46 states with a gross leasable area of approximately 13.3 million square feet. 

For more information on the company, visit http://www.nnnreit.com/

.

Contact: Kevin B. Habicht, Chief Financial Officer (top right photo), +1-407-265-7348