REBusinessOnline

Colliers Adds New Investment Sales Team to DFW Office

DALLAS AND FORT WORTH, TEXAS — Colliers International has added a new team of seven investment sales professionals focusing on single- and multi-tenant retail, office, industrial and healthcare properties. Geoff Ficke, who most recently served as senior vice president of Marcus & Millichap, will lead the new team, which has closed transactions with a collectively value of more than $1 billion over the last 10

NAI Global Opens New Office in Eastern Maryland

SALISBURY, MD. — NAI Global has opened NAI Coastal, a new office in Salisbury that will serve the coastal region of Maryland, Delaware and Virginia. Chris Davis; Bradley Gillis, CCIM; Joey Gilkerson; and Chris Gilkerson are the principals of NAI Coastal, which also includes a team of eight advisers. The NAI Coastal team specializes in buyer and tenant representation focusing on the hospitality, multifamily, medical, office, retail and industrial sectors. NAI Coastal also works in …

Equitable Commercial Realty Expands to San Antonio

SAN ANTONIO — Equitable Commercial Realty (ECR), and Austin-based brokerage and management firm, will expand its suite of services to the San Antonio market, where it already has multiple listings, including the Aztec Building downtown. Albert Vazquez will lead the new San Antonio office of ECR, which has been ranked as one of the nation’s 5,000 fastest-growing companies for four consecutive

SVN International, Riverstone Commercial Announce New Partnership

COLLEGE STATION, TEXAS — SVN International Corp. and Riverstone Commercial Real Estate have established a partnership that will create a full-service franchisor of the SVN brand known as SVN | Riverstone Commercial Real Estate. Jim Jones and Jess Buenger will lead the new company, which will be based in College Station. The firm will offer brokerage and advisory services to commercial real estate buyers, sellers, landlords and tenants across the Central Texas markets, as well as consultancy …

Michelle Kidd Joins Crossman & Co. as Director of Client Services

ORLANDO, FLA. — Michelle Kidd has joined Crossman & Co. as its new director of client services. Kidd has lived and worked in Orlando since 1997, most recently as a partner at TSCG. Crossman specializes in commercial property management, leasing and investment sales. “I feel a responsibility to make our team stronger through hands-on training and support,” says Kidd. “My goal is to build a concierge service that’s extended to all of our clients as we continue to strengthen the …

Sterling Construction to Acquire Plateau Excavation for $400M

THE WOODLANDS, TEXAS — Sterling Construction Co., a general contractor based in the Houston area, has entered into an agreement to acquire Georgia-based specialty contractor Plateau Excavation Inc. for $400 million. The sales price includes $375 million in cash and $25 million in Sterling’s common stock and seller notes. The deal is expected to close near the end of the third quarter. Plateau had revenues of approximately $290 million in

Women’s Fashion Chain Avenue to Close All 222 Stores Across 33 States

ROCHELLE PARK, N.J. — Avenue Stores LLC will close all 222 of its Avenue stores across 33 states after failing to procure a buyer for the plus-size women’s clothing chain. It was not made immediately clear if the retailer will continue to operate its e-commerce platform. Philadelphia-based Versa Capital Management acquired Avenue Stores LLC in bankruptcy in 2012 when the retailer operated 433 stores. Avenue will hold liquidation sales in all of its stores, offering 30 to 50 percent …

Freddie Mac Predicts 8 Percent Increase for 2019 Multifamily Loan Origination Volume

MCLEAN, VA. — In its 2019 Midyear Outlook, Freddie Mac projects the multifamily rental market to have strong volume growth in the second half of 2019. Combined with a strong labor market and low interest rate, the McLean-based agency believes loan originations will reach $336 billion for the year, which would be an 8 percent increase from the prior year's total. “A strong labor market and a persistent housing shortage have continued to fuel a robust rental market,” said Steve …

Mark Hollan of Lee & Associates Dies at Age 61 Due to Complications from Cancer

ATLANTA — Mark Hollan, executive vice president, principal and founding partner with the Atlanta office of Lee & Associates, died July 27 due to complications from cancer. Hollan was 61. In his 35-year commercial real estate career, Hollan racked up more than $300 million in transaction history. While at Lee & Associates in Atlanta, Hollan garnered the title of the firm’s top broker 12 times and finished in the top five 25 times. Hollan also earned numerous industry awards …

Pizza Hut to Close 500 Stores Over Next 24 Months

LOUISVILLE, KY. — Pizza Hut will close as many as 500 dine-in stores over the next 24 months as part of a broader strategy to bolster its delivery and carryout services, company executives said during the second-quarter earnings call. Food Business News first reported the announcement. Pizza Hut, which is owned by Louisville, Ky.-based YUM! Brands (NYSE: YUM), operates about 7,500 locations across the United States and 18,000 worldwide. In the United States, roughly 6,100 of the …

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