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SAN JOSE, Calif. – Jerry Garrity of First Statewide Realty, who was recently interviewed for a Wall Street Journal article for his expertise in San Jose Property Management, is offering executive relocation tips to companies relocating employees to the Silicon Valley.

Garrity says the experience of two decades in real estate spanning five recessions gives him some measure of wisdom he shares with clients, whether individual investors or companies using his services for executive relocation.

“Often, companies who are relocating an employee think they are saving money by managing the details of the move internally, such as scouting for rental properties, arranging rental contracts, coordinating moving companies, etc. Inevitably, they end up wasting valuable time and money in the process.”

He says that one of his first pieces of advice is that time is money, and having employees try to learn the ins and outs of real estate management consumes a lot of both.

“I highly recommend hiring an experienced property management company like First Statewide Realty to take care of the details of an employee relocation. We do this every day. There’s no learning curve, we took care of that 20 years ago.”

Garrity also says advises companies to view executive relocation services as an investment in their employee’s productivity.

“When an employee arrives in a new home amidst the chaos of a move that wasn’t well planned, it’s our experience that work productivity suffers dramatically. Employees are a valuable human resource, and wasting their time and energy by imposing unnecessary stress on their home life just doesn’t make sense.”

Garrity says he’s available to provide a full range of expert advice on taking the hassles out of employee relocation to companies.

“When an employee is being transferred to a new city, they are already dealing with enough upheaval in their life without adding extra burdens by having them deal with relocation details. We’ll take the burden of dealing with their move off of their hands and give them a much easier transition.”

About First Statewide Realty

Jerry Garrity is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His professional Property Management San Jose company First Statewide Realty specializes in managing single family homes, condominiums, townhouses and other investment property in the greater San Jose metropolitan area. His Cupertino property management firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.

Jerry Garrity
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
Email: investments@firststatewiderealty.com
http://www.firststatewiderealty.com

IRVINE, Calif. – Keystone Pacific Property Management, a leading community association management company providing management services to community associations throughout Southern California, has been selected tomanage Villa Vallerto, a 118 condominium community located in Tustin, California. Keystone Pacific will be assisting the board of directors with the daily management operations of the community.

“We are very excited to be managing Villa Vallerto,” said Denise Bergstrom, vice president of association management of Keystone Pacific Property Management.” With over 29 years of experience, we have conducted a smooth transition, which is key to ensure the association stays on the right track.”

Built in 1973, Villa Vallerto offers an entry way, a pool, tot lot, laundry facilities, as well as manicured common area landscape. Keystone Pacific assumed professional management on December 1, 2011 and Brooks Paine, a certified community association manager, has been assigned as the manager for Villa Vallerto.

About Keystone Pacific Property Management

A leader in the community association management industry for more than 29 years, Keystone Pacific Property Management specializes exclusively in the management of common interest developments in Southern California. Currently, the firm manages over 40,000 units in master-planned, condominium, townhome, single-family home, mixed-use and commercial common interest developments. Keystone Pacific’s clients receive the best care and resources as the firm is committed to providing superior community association services. Keystone Pacific is one of the few local property management firms to have earned the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management (IREM) and the Accredited Certified Management Firms (ACMF) in Southern California, certified through the California Association of Community Managers (CACM®). Headquartered inIrvine, Calif., Keystone Pacific also maintains offices in Rancho Santa Margarita and Temecula, Calif.

For more information, please contact Keystone Pacific at 1-877-KPPM-INC (577-6462) or visit www.keystonepacific.com.

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FORT MYERS, Fla. — Lee & Associates, one of the largest full-service commercial real estate firms in the country, has taken an important step in bolstering its Southeast presence with the opening of its first office in Florida, Lee & Associates Naples/Ft. Myers. The office is headed by Bob Johnston, Jerry Messonnier and Richard B. Clarke, who before joining Lee were the founders of one of Southwest Florida’s top commercial brokerage firms, Grubb & Ellis/1st Commercial, LLC. The trio represents 70 years of commercial brokerage experience and an in-depth connection with Florida commercial real estate.

“With the addition of the Naples/Ft. Myers office, Lee caps 2011 with a banner year of a methodical and opportunistic strategy of nationwide expansion,”" said Edward Indvik, CEO of Lee & Associates. “We have a clear objective of focusing on exceptional talent and location, which speaks to the value we place on the Naples/Ft. Myers area and Jerry, Richard and Bob. Our plans for strategic expansion, which include the other major markets in Florida and the southeast and northeast, is on course and will continue through 2012 and beyond. I expect us to have announcements on several additional locations in the first quarter 2012 alone.”

Lee & Associates Naples/Ft. Myers, which becomes the firm’s 45th office nationwide, is located at 7950 Summerlin Lakes Drive, Ft. Myers. Nine brokers fill its roster and represent the industrial, office, retail and investment markets. The announcement comes one month after Lee opened a New York City location, which followed other significant new office openings in Atlanta, Indianapolis, Kansas City, Kan. and Greenville, S.C.

“While Florida, like the rest of the country, has been struggling with the economic downturn, beginning this year, commercial real estate has started to pick up momentum as more property becomes affordable,” said Messonnier. “As a result, with our expertise in this region and the Lee & Associates national network, it’s the perfect opportunity and match as we continue to grow in the Florida market.”

Indeed, some key factors that are making the Southwest Florida market more attractive are low corporate taxes; proximity to major markets such as Tampa and Miami; extensive transportation infrastructure, including an expanding international airport; numerous educational institutions — two universities and various two- and four-year colleges; the recent upswing in commercial activity in the Southwest Florida market along with the ongoing influx of major and small businesses to the area.

Overall, Florida, which has a GDP of $744 billion, is ranked as the fourth largest state economy in the United States. And according to a 2011 survey by Chief Executive Magazine, which polled 500 CEOs on a wide range of criteria, from taxation and regulation to workforce quality and living environment, Florida was ranked third in the nation as the best place for business.

In addition to Johnston, Messonnier and Clarke, other key figures in the Naples/Ft. Myers office include: Derek Bornhorst and Bob White, industrial specialists; Chuck Smith and Carols Acosta, retail specialists; Charles Jans, office specialist.

In 2008, Johnston and Messonnier, who led the southwest Florida industrial team at another national firm, were one of the top teams in the region’s industrial market, left to form their own entity, Grubb & Ellis/1st Commercial LLC. The pair continues to dominate the industrial market with a 65 percent market share.

Before beginning his career in commercial brokerage, Messonnier spent 20 years in the commercial banking industry and was owner of his own real estate investment firm.

With 25 years of commercial real estate experience, Clarke specializes in property acquisitions and dispositions for national development and brokerage companies, asset management, development, construction and leasing. Prior, Clarke was Vice President of development for Opus South Corp. in Fla., working with private clients, lenders, asset managers and hedge funds.

Johnston, who has more than 20 years experience in selling and leasing industrial property, began his career in Southern California where he became familiar with the Lee & Associates business model whereby the office is controlled by the brokers, not corporate managers. “We are extremely excited about moving forward as we join with Lee & Associates, which shares the same values and goals we have,” Johnston said.

About Lee & Associates

Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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NEW YORK, N.Y. – Joel Herskowitz, whose legacy in New York City commercial real estate brokerage spans 27 years, has joined the newly formed Lee & Associates NYC LLC. Herskowitz, the former president and CEO of Grubb & Ellis New York Inc., takes on the title of COO, and whose duties also include broker recruitment, which the Manhattan office has made one of its top priorities.

“Joel is a legend in this city and his knowledge and experience will be crucial as we move forward in developing this office,” said James Wacht, president of Lee & Associates NYC. “The transactions will be there, but what we need to do now is find those brokers with the experience, knowledge and attitude to mold this office into a top brokerage firm. That’s what Joel will provide – a strategy for recruitment and retention.”

On November 1, Sierra Realty Corp., one of New York City’s prominent full-service brokerage firms, partnered with Lee & Associates to become Lee & Associates NYC LLC. With this union, the firm joins a national roster of 700 brokers throughout the U.S. including offices in Los Angeles, Chicago, St. Louis, Detroit, San Diego, Phoenix, Las Vegas, Dallas/Fort Worth and Atlanta. In addition to Wacht and Herskowitz, Peter Braus rounds up the executive team as executive VP and managing principal. Herskowitz will work with Wacht and Braus to recruit new brokers, manage the brokerage side of the business, and help facilitate the flow of referral business among the various Lee offices.

Wacht called Herskowitz’s resume a testament of his know-how and his hands-on approach in developing sales teams, recruitment, training and employee retention, sales and motivation techniques and team building. “Mr. Herskowitz knows what he’s doing. And the fact that he’s part of our team gives us a tremendous leg up on this front,” Wacht said.

From 2001-2006, Herskowitz was president and CEO of Grubb & Ellis New York Inc. In 2004, Grubb & Ellis recognized him as one of the three top executives on the national front for outstanding achievements, including earnings before interest and taxes (EBIT), recruiting, retention, and return on revenues. In addition, he received a special award for being responsible for a 67 percent increase in annual revenue from 2003 to 2004. Before joining G&E, Herskowitz, known for his leasing expertise, was executive managing director of Newmark & Company, where he managed the firm’s national brokerage division. Herskowitz also spent time with Cushman & Wakefield and Cohen Brothers Realty Corp., where he held the title of vice president of leasing.

“My passion has always been to lead, build and inspire, and I’m fortunate to be getting the opportunity with Lee NYC,” said Herskowitz, who is also a managing partner with the firm. “This office has made clear its established goals. I have every intention of meeting those goals and then surpassing them.”

Edward Indvik, CEO of Lee & Associates, called Herskowitz’s role in the New York office crucial. “There’s no doubt of the respect and expertise Joel brings to our firm. We are extremely privileged to have someone like him on our team,” he said.

Herskowitz is currently a member of The Real Estate Board of New York and had served on The Commercial Board of Directors of The Real Estate Board of New York and Real Estate Board of New York’s Board of Governors.

About Lee & Associates

Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 44 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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ONTARIO, Calif. – Lee & Associates, the nation’s largest broker-owned commercial brokerage firm, has transacted the $3.94 million sale of the Class A Philadelphia Place Business Park located at 2810 Philadelphia St., in Ontario, Calif.

Jeff Smith and John Seoane of Lee & Associates’ Ontario office represented the seller, Lampson Beach Properties, which sold the property based on determinations of market conditions and the opportunity to affect a 1031 exchange for a property that had been of interest. The buyer, Summit Machine, will occupy the property for their own operations.

“When we started marketing the property there were a total of five buildings available for sale and 14 buildings for lease in the 40,000 to 50,000-square-foot range,” said Seoane. “This illustrates how demand for purchase far exceeds demand for lease, which contributed to the seller’s confidence in achieving a premium compared to recent sales.”

The 45,907-square-foot property, built in 2000, is considered a class “A,” newer product for its size range. “The limited supply of these types of properties and the correlated rise in prices allowed the seller to get very close to their asking price of $4 million,” added Smith.

About Lee & Associates

Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 44 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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LONG BEACH, Calif. — In one of the largest transactions in Long Beach this year, Lee & Associates, one of the nation’s leading commercial real estate providers, has closed a sales transaction of more than $20 million for the Park Tower, a 119,287-square-foot office building located at 5150 Pacific Coast Highway in Long Beach, Calif. The sale price of the off-market transaction could not be disclosed.

George Thomson of Lee & Associates Orange represented the buyer, an affiliate of New York-based private equity firm Investcorp International, Inc. George Thomson and Marshal Vogt also played a key role in raising Park Tower’s occupancy rate from 38 percent to 96 percent in only 18 months preceding the sale.

Thomson and Vogt have more than 30 years of combined office brokerage experience and service both the Long Beach and Orange County areas.

About Lee & Associates

Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 44 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

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CHARLESTON, S.C. – Mountain Real Estate Capital (MREC) (www.mountainrecapital.com) announces the acquisition of a loan portfolio from First Federal Savings and Loan Association (“First Federal”) in Charleston, S.C. An affiliate of Sandler O’Neill acted as exclusive financial advisor to First Federal in the asset sale which closed October 27, 2011. The portfolio is made up of 148 performing and non-performing loans totaling $84 million in loan balance. The loans are secured primarily by residential development properties in the Charleston, Myrtle Beach, Hilton Head and Kiawah Island areas of South Carolina.

“First Federal is the 28th bank we have acquired assets from since 2010, and we hope to acquire several more portfolios before the year ends,” observes Peter Fioretti, MREC’s CEO. Since 2010, MREC has purchase assets in 10 states and has committed $270 million to acquire bank notes and REO, encompassing over 12,000 lots/homes and 9,000 acres with projected sales exceeding $1.2 billion. “Our in-house underwriting and asset management teams are composed mostly of former GMAC REO professionals whose group we acquired in 2009. This allows us to quickly assess these A&D portfolios and gives us and advantage over less experienced opportunity funds.”

Mountain Real Estate Capital is the equity investment arm of the Mountain Real Estate Group, founded in 1993 by its CEO, Peter Fioretti. Other affiliates include its lending group, Mountain Funding, and its management group, Mountain Asset Management. MREC is focused on three types of investments:

• Acquisition of bank REO and NPL portfolios
• Joint ventures with national and regional homebuilders to develop and sell residential lots and houses
• Acquisition of opportunistic assets for its own account or in partnership with developers

MREC is headquartered in Charlotte, N.C., where its bank portfolio underwriting team is headed by Keith Alexander. Its homebuilder joint venture and asset management groups are based in Minneapolis, and its national origination team has additional offices in Atlanta, Los Angeles, Richmond, and Newport Beach.

“Being headquartered in nearby Charlotte will facilitate our effort to work closely with our borrowers. This will also present a great opportunity for us to team up with the developer and builder relationships we have cultivated in the Carolina markets to jointly develop assets we come to own,” states MREC’s chief investment officer, Arthur Nevid. “We have successfully purchased assets from banks throughout North Carolina and Georgia, so this new portfolio located throughout South Carolina will neatly fit into our asset management footprint.”

About Mountain Real Estate Group

Since 1993, The Mountain Real Estate Group has been a leading private capital source for real estate developers, builders and operators seeking to enhance value in their existing projects or to take advantage of new opportunities. In the current environment, developers and builders have been teaming up with Mountain Real Estate Capital nationally to capitalize on the opportunities currently available, either through the restructure of their existing equity or debt arrangements or the joint purchase of a newly identified distressed opportunity. Mountain’s equity fund is organized to invest up to $1 billion in these types of opportunities. For more information, visit www.mountainregroup.com.

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