Capital Markets

Cushman & Wakefield Negotiates Cabot Properties’ $25.8M Acquisition of Palm Beach Distribution Portfolio​

The Team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr., Matthew G. McAllister, Mike Davis, Rick Brugge and Michael Lerner Represented Cabot Properties  in its Acquisition of Three Buildings Totaling 173,812 Square Feet in Vista Business Park WEST PALM BEACH, FL, November 5, 2018 — Cushman & Wakefield has negotiated Cabot Properties’ acquisition of three multi-tenant warehouse and distribution buildings totaling 173,812 square feet in Palm Beach County. The South Florida Industrial Brokerage Team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr. and Matthew G. McAllister, in conjunction with Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield’s Central Florida operations, represented Cabot Properties in its $25.8 million ($148 per square foot) acquisition of 2211 Vista Parkway, 2213 Vista Parkway and 6935–6965 Vista Parkway North in West Palm Beach’s Vista Business Park. The seller was McCraney Property Company. “Cabot Properties’ acquisition of these buildings represented a tremendous opportunity to acquire proven, well-managed assets with exceptionally strong tenancy and revenue histories in one [...]

2018-11-12T12:04:50+00:00 November 12th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates ±113,000-SF HQ Renewal with VAS Aero

Christopher Thomson, Richard F. Etner Jr., Chris Metzger and Matthew G. McAllister Represented Owner DRA Advisors LLC in Securing the Lease at 645 Park of Commerce Way BOCA RATON, FL, October 29, 2018 — Cushman & Wakefield has negotiated a 10-year, 113,191-square-foot headquarters lease renewal with VAS Aero Services at 645 Park of Commerce Way in Palm Beach County. The South Florida Industrial team of Christopher Thomson, Richard F. Etner Jr., Chris Metzger and Matthew G. McAllister negotiated the lease on behalf of New York-based building owner DRA Advisors LLC. VAS Aero, formerly The AGES Group and a division of Volvo since 1999, is a leading provider of aftermarket services in the aviation industry. The company sources, warehouses and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies and maintenance, repair and overhaul (MRO) providers around the world. VAS [...]

2018-11-01T14:35:08+00:00 November 1st, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Negotiates Sale of Coconut Grove Mixed-Use Property

Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Greg Miller and Jason Hochman Represented an Affiliate of MG|3 Developer Group in the Disposition. MIAMI, FL, October 8, 2018 — Cushman & Wakefield has negotiated the sale of 3138 Commodore Plaza, a 31,000-square-foot, mixed-use building in Miami’s Coconut Grove neighborhood. The Cushman & Wakefield Capital Markets team of Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Greg Miller and Jason Hochman negotiated the sale on behalf of an affiliate of Hollywood, FL-based MG|3 Developer Group. A partnership comprising Terra and Banyan Street Capital acquired the asset for $7.2 million ($232 per square foot). 3138 Commodore Plaza was developed in 1986 as a multi-tenant commercial property. The four-story building sits on a prime ±0.34-acre infill site with 75 feet of frontage along trendy Commodore Plaza. The unique boutique property offers ground-floor retail space, three floors of office space and coveted on-site structured parking. Vacant at the time of sale, 3138 Commodore Plaza most recently housed the Academy of Arts and Minds charter [...]

2018-10-09T13:26:29+00:00 October 9th, 2018|Capital Markets, In the News, Press Release|

Cushman & Wakefield Arranges Sale and Financing of Delray Beach Apartment Community on Behalf of Atlantic Pacific

Aventura, FL-Based Cardone Capital Acquired the 346-Unit Atlantic Delray Apartments DELRAY BEACH, Florida, October 2, 2018 – Cushman & Wakefield has arranged the sale and financing of Atlantic Delray Apartments, a 346-unit, garden-style apartment community in Palm Beach County’s Delray Beach. Vice Chairman Robert Given, Senior Managing Director Troy Ballard, Executive Managing Director Zachary Sackley and Senior Financial Analyst James Quinn, with Cushman & Wakefield’s Florida Multifamily Investment Sales Team, represented Atlantic Pacific in the disposition. Atlantic Pacific is national real estate company specializing in acquisitions, development, property management and investments, with offices in Florida, Georgia, Texas and California. The Seller is a Joint Venture between Atlantic|Pacific Companies and Rockpoint. The buyer is Cardone Capital, an Aventura, Florida-based investment manager that invests in income-producing multifamily properties across the country. Robert Kaplan, Chris Lentz, and Mark Rutherford of Cushman & Wakefield’s Equity, Debt & Structured Finance Group assisted the Cardone Capital in securing [...]

2018-10-09T13:20:34+00:00 October 8th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates Financing of One West Las Olas​

Jason Hochman of Cushman & Wakefield’s Equity Debt & Structured Finance Group Secured a $9.6 Million Loan on Behalf of Owner One West LOA, LLC FORT LAUDERDALE, FL, September 28, 2018 — Cushman & Wakefield has negotiated the financing of One West Las Olas, a six-story, 33,450-square-foot Class A office building in the heart of Fort Lauderdale’s central business district. Jason Hochman of Cushman & Wakefield’s Equity Debt & Structured Finance (EDSF) Group negotiated a $9.6 million, fixed-rate non-recourse loan with a life insurance company on behalf of owner One West LOA, LLC. One West LOA, LLC was represented by Brian Kopelowitz of KO Lawyers. One West Las Olas was developed in 2015 on a ±0.12-acre site at 1 West Las Olas Boulevard. The state-of-the-art building is LEED Silver-certified and features on-site security, valet parking and hurricane impact glass. In addition to 27,592 square feet of Class A office space, the building houses two highly acclaimed [...]

2018-10-05T11:15:48+00:00 October 5th, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Report: Record Low Vacancies Highlight Bullish South Florida Multifamily Market​

Calum Weaver Authored Cushman & Wakefield’s 2018 South Florida Multifamily Midyear Market Update​ MIAMI, September 4, 2018— Cushman & Wakefield has released its 2018 South Florida Multifamily Midyear Market Update. The semi-annual report, authored by Executive Managing Director Calum Weaver of Cushman & Wakefield’s South Florida Multifamily Team, details the state of the multifamily market in the three counties comprising South Florida — Miami-Dade, Broward and Palm Beach. The report finds record low vacancy rates in a South Florida multifamily market supported by a continuing trend of positive historic market fundamentals. Significant highlights of the report include: Through the first two quarters of 2018, there were 133 multifamily sales in South Florida valued at nearly $2 billion. While year-over-year sales activity slowed for the second year in a row, these values are still the third-highest ever recorded in the first half of any year. As a whole, sales activity in South Florida was split relatively evenly [...]

2018-09-06T16:09:06+00:00 September 6th, 2018|Capital Markets, Florida, In the News, Multifamily, Press Release|

Cushman & Wakefield Arranges $59.75M Sale of Miami Apartment Community for Rilea Group

Advenir, Inc. Acquired Vista Verde at Westchester for $197,848 Per Unit MIAMI, August 15, 2018 – Cushman & Wakefield has negotiated the sale of Vista Verde at Westchester, a 302-unit, value-add apartment community, for $59.75 million. The property is adjacent to Florida International University, a public university with an enrollment of over 55,000 students, as well as a Publix-anchored shopping center. Vice Chairman Robert Given, Senior Managing Director Troy Ballard, Executive Managing Director Zachary Sackley and Senior Financial Analyst James Quinn with Cushman & Wakefield’s Florida Multifamily Team represented Rilea Group in the disposition. The Miami-based real estate developer invests in value-add multifamily, office and retail properties throughout South Florida. The buyer is Advenir, Inc., an Aventura, Florida-based real estate investment company that acquires and operates multifamily communities throughout the United States on behalf of high-net worth and institutional investors. Vista Verde was built in 1993. The property traded for [...]

2018-08-17T14:54:58+00:00 August 17th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates Sale of 69-Unit, Luxury Townhome Community in Hollywood, FL for $23M

Calum Weaver Represented Royal Oaks United, LLC in the Disposition HOLLYWOOD, FL (August 6, 2018) – Cushman & Wakefield has negotiated the sale of Royal Oaks Townhomes in Hollywood, FL, for $22.78 million. The luxury townhome community has 69 units and was 90 percent occupied at the time of sale. Executive Managing Director Calum Weaver, with Cushman and Wakefield’s Florida Multifamily Team, represented the seller, Royal Oaks United, LLC, in the disposition of the property. The buyer is Preston Giuliano Capital Partners, LLC, a private investment firm focused on the acquisition and repositioning of multifamily real estate in South and Central Florida. Royal Oaks Townhomes was completed in 2009. The fully gated community sits on 5.19 acres and features two-story units with three bedrooms, 2.5 bathrooms and 1,695 square feet of living space. Each residence includes a private garage, terraces and balconies and a semi-private back yard. Luxury community amenities [...]

2018-08-08T14:42:33+00:00 August 8th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $23M Sale of Airport East Distribution Center​

The Cushman & Wakefield Team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner Represented Equitable Real Estate Partners in the Disposition MIAMI, FL, August 6, 2018— Cushman & Wakefield has negotiated the sale of Airport East Distribution Center, a 397,585-square-foot distribution complex in Miami-Dade County. The Cushman & Wakefield team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner represented Miami-based Equitable Real Estate Partners in the disposition. The asset was acquired by CenterPoint Properties for $22.96 million ($58 per square foot). Airport East Distribution Center is a three-building industrial campus featuring concrete block construction, 18- to 22-foot clear heights, sizeable truck courts and exterior storage. The campus is situated on an ±18-acre site providing ample space for parking and staging. The complex was 76 percent leased at the time of sale. Airport East Distribution Center is located at 7000 NW 32nd Avenue, strategically positioned near Miami International Airport and PortMiami in the East Hialeah submarket. “Airport [...]

2018-08-08T14:05:42+00:00 August 8th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Assists in Sale Negotiation of 39,000-SF Value-Add Industrial Portfolio in Jupiter, Florida

 Scott O’Donnell, Robert Smith, Dominic Montazemi, Miguel Alcivar and Greg Miller Represented Seller in the Disposition JUPITER, FL, July 24, 2018 – Cushman & Wakefield has assisted the seller in negotiating the sale of The Pointe at Jupiter Park of Commerce, a 39,328-square-foot, two-building light industrial portfolio in Jupiter, Florida, for $5.2 million, or approximately $132 per square foot. Cushman & Wakefield Executive Director Scott O’Donnell, Managing Director Dominic Montazemi, Director Miguel Alcivar and Senior Associate Greg Miller, along with CBRE Executive Vice President Robert Smith, represented the seller, 1201 JCP TIC, LLC & CKJCP TIC, LL, in the transaction. The buyer is Nationwide Development Corporation. The property sits on 3.17 acres at 1201 and 1251 Jupiter Park Drive. The 1201 building consists of 23,660 square feet with 19,660 square feet of office/showroom space and 4,000 square feet of fully air-conditioned warehouse space. The 1251 building consists of 15,578 square [...]

2018-07-26T14:56:56+00:00 July 26th, 2018|Capital Markets, In the News, Industrial, Press Release|