CORFAC International Announces Major Third Quarter Commercial Real Estate Transactions

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FALLS CHURCH, Va., Oct. 21, 2013 (GLOBE NEWSWIRE) -- CORFAC International 2013 President Bill Hawkins, SIOR, announced six of the more than 2,000 commercial real estate transactions that the network of independent and entrepreneurial companies closed during the third quarter this year.

Merrimack, NH: James Stubblebine of the Stubblebine Company/CORFAC International based in Boston, MA, completed a 53,000-square-foot lease encompassing office and engineering lab space for DRS Technologies Inc. That transaction was referred by Jeffrey Garibaldi of The Garibaldi Group/CORFAC International based in Chatham, NJ.

Northern NJ: In another transaction involving The Garibaldi Group/CORFAC International, Howard E. Greenberg, SIOR of Howard Properties, Ltd./CORFAC International based in White Plains, NY, co-represented his client, Cervalis LLC with Jim Garibaldi and Mike Witko of The Garibaldi Group. They represented the data center operator in the lease of 28,130 square feet of office/flex space in a building owned by Mack-Cali Realty Corp.

Memphis, TN: One of the country's biggest third-party logistics companies leased approximately 500,000 square feet of industrial space in Memphis that was valued at more than $6.8 million.

The lease was completed by Treat Macdonald, SIOR of Memphis-based Crump Commercial LLC/CORFAC International and referred by Steven Podolsky, SIOR of Podolsky|Circle CORFAC International in Chicago and David Saltzman of Lee & Associates in New Jersey. Since 2005 the two CORFAC firms and Saltzman have completed six transactions totaling 2,310,514 million square feet on this client's behalf in Tennessee and Mississippi.

Jacksonville, FL: Don Ossey, SIOR and Robbie McEachern of Portland OR-based Capacity Commercial Group/CORFAC International referred their client, Tucker Rocky Distribution, to Jacksonville FL-based Jeff Graham, SIOR, with King Industrial Realty of Florida/CORFAC International, who negotiated a long-term, 190,402-square-foot lease on behalf of Tucker Rocky in an industrial building at 8700 Jesse B. Smith Court, Jacksonville.

Pattillo Industrial Real Estate owns the property and also provided a 72,691-square-foot temporary expansion space within Westside Industrial Park to accommodate Tucker Rocky's immediate growth, making the total leased space for the transaction 263,093 square feet. It is the largest industrial lease so far this year in Jacksonsville, according to Graham.

Washington, DC: Bryan Gray, with Donohoe Real Estate Services/CORFAC International co-represented the investment trading platform, Scottrade, in a 1,945-square-foot retail lease in Woodbridge VA, a Washington suburb that is approximately 20 miles south of the capital. The deal was referred by Scott Savacool, SIOR, CCIM, with Sansone Group/CORFAC International based in St. Louis, MO. In 2013, Savacool has completed 12 Scottrade leases in multiple U.S. cities with other CORFAC brokers.

Wilmington, DE: J. Gregory Ellis, CCIM and Rich Dudek of Patterson-Woods Commercial Properties/CORFAC International were the only brokers involved in the sale of 913 North Market Street in Wilmington, a 12-story, downtown Wilmington office building for slightly more than $1.7 million that was co-listed nationally with Auction.com.

The building has approximately 72,000 rentable square feet and was 60 percent occupied at the time of sale. The seller was Delaware Offices, a Wilmington-based property investment and management firm. The buyer was 913 Market LLC, an entity of Sky Management Services, LLC.

CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. To learn more call 703.532.6160 or visit www.corfac.com.

CONTACT: Media Contact: Gary Marsh gary@marshmarketing.com

Source:CORFAC International