Capital Markets

Cushman & Wakefield Represents Bristol Group in $24M Sale of ‘Last-Mile’ Distribution Center in Miami

Amazon, Packaging Corp. of America Among Tenants at Fully Occupied 201,459-SF Facility; Buyer is Dalfen Industrial   MIAMI, March 12, 2019 – On behalf of San Francisco-based Bristol Group, Inc., Cushman & Wakefield has arranged the sale of a 201,459-square-foot, last-mile distribution center in Miami’s North Central submarket for $24 million. The multi-tenant facility is 100 percent occupied by such notable tenants as Amazon, Packaging Corporation of America and DaVita Healthcare. The Cushman & Wakefield Investment Sales Team of Vice Chairman Mike Davis, Executive Director Rick Brugge, Executive Director Wayne Ramoski and Director Gian Rodriguez represented Bristol Group, a national private real estate investment and development firm, in the disposition. The buyer is Dalfen Industrial, a real estate investment manager that specializes in the acquisition, development and operation of industrial property across the United States and Canada. The warehouse facility sits on 10.25 acres at 15600 NW 15th Ave., within Sunshine [...]

2019-03-13T13:32:50-04:00 March 12th, 2019|Capital Markets, In the News, Industrial, Press Release|

‌Cushman & Wakefield Negotiates $11.7M Sale of Interstate Industrial Park on Behalf of The Silverman Group

The Team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Jason Hochman Negotiated the Sale of the Three-Building Light Industrial Portfolio to Interstate Industrial Park Holdings, LLC RIVIERA BEACH, FL, March 11, 2019 — Cushman & Wakefield has negotiated the sale of Interstate Industrial Park, a three-building, multi-tenant small-bay industrial portfolio in Palm Beach County. The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Jason Hochman, along with CBRE’s Robert Smith and Kirk Nelson, negotiated the sale on behalf of Palm Beach, FL-based The Silverman Group. Interstate Industrial Park Holdings, LLC, led by Harry Spitzer, acquired the 160,302-square-foot park for $11.7 million ($73 per square foot). Adam Robbins of ARC Equities, LLC represented the buyer. The portfolio comprises three buildings located at 6555 and 6557 Garden Road and 3541 M.L.K. Jr. Boulevard in Riviera Beach. 6557 Garden Road and 3541 M.L.K. Jr. Boulevard are one-story, metal construction, light industrial buildings developed in 1968 on a ±2.0-acre site. These assets house [...]

2019-03-13T13:24:51-04:00 March 11th, 2019|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Represents the Kislak Organization in $11.3M Sale of Plantation Professional Park

Triarch Capital Group Acquired the ±63,319-Square-Foot Medical and Professional Office Campus in Broward County​ PLANTATION, FL, March 8, 2019 — Cushman & Wakefield has negotiated the sale of Plantation Professional Park a 63,319-square-foot medical and professional office campus in Broward County. The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar represented the Kislak Organization, of Miami Lakes, FL, in the sale. Aventura, FL-based Triarch Capital Group acquired the asset for $11.3 million ($178 per square foot). Plantation Professional Park is a six-building office campus built between 1987 and 1989 on a ±7.84-acre site at 6710–6834 West Sunrise Boulevard in Plantation, FL. The single-story buildings comprise a medical and professional office campus located three miles from Westside Regional Medical Center. The site also includes a vacant pad previously approved for an additional two-story, ±22,000-square-foot medical office building. Plantation Professional Park was 96% occupied at the time of sale. Notable tenants include Dickens Sanomi Academy and American Access Care. [...]

2019-03-13T12:24:04-04:00 March 8th, 2019|Capital Markets, In the News, Office, Press Release|

‌Cushman & Wakefield Secures $18.2M Loan for KAS Partners’ Acquisition of Norfolk Office Portfolio

Jason Hochman of Cushman & Wakefield’s Equity Debt & Structured Finance Group Assisted KAS Partners in its Acquisition of Twin Oaks I and II NORFOLK, VA, March 7, 2019 — Cushman & Wakefield Senior Director Jason Hochman secured financing for Miami-based KAS Partners’ acquisition of Twin Oaks I & II, a 170,970-square-foot office portfolio in suburban Norfolk, VA. Hochman assisted KAS Partners in originating an $18.2 million, fixed-rate loan with an interest-only period from Starwood Mortgage Capital, a commercial mortgage-backed securities (CMBS) lender, for the company’s $24.9 million acquisition of Twin Oaks I & II. “We were excited to work with our client on their first acquisition in Virginia after previously assisting on financing their acquisitions in Florida and other markets,” said Hochman. “Given this asset’s stable occupancy and income, along with the strong reputation of KAS Partners as a sponsor, we had significant lender competition for the opportunity. Ultimately, we helped KAS Partners choose a lender and [...]

2019-03-13T12:31:03-04:00 March 7th, 2019|Capital Markets, In the News, Press Release|

Bridge Development Partners Taps Cushman & Wakefield to Lease Bridge Point Miramar

Cushman & Wakefield Also Arranged the Sale and Financing of the 304,428-Square-Foot Distribution Center MIRAMAR, FL, March 4, 2019 — Cushman & Wakefield has been named exclusive leasing advisor for Bridge Point Miramar, a 304,428-square-foot distribution center in Broward County. The Cushman & Wakefield South Florida Industrial Team of Chris Metzger, Richard F. Etner, Jr., Christopher Thomson and Matthew G. McAllister will lease the building on behalf of Bridge Development Partners. Bridge Development Partners recently acquired Bridge Point Miramar from Sherm Realty Corporation, an affiliate of Weston, FL-based Apotex Corp and will invest $6 million to upgrade the building. A Cushman & Wakefield Capital Markets team comprised of Mike Davis, Metzger and Etner, Jr., arranged the $38 million transaction. Jason Hochman and Chris Lentz, of Cushman and Wakefield’s Equity, Debt and Structured Finance Group worked on behalf of Bridge to secure a $32.7 million loan from Heitman Capital Management. “Upon the completion of our multimillion-dollar investment to further enhance this facility’s offerings, Bridge Point Miramar will be a [...]

2019-03-13T12:23:24-04:00 March 4th, 2019|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Represents R.T. Milord Co. in $6.65M Sale of Boynton Beach Light Industrial Building

The Team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar Negotiated the Sale of 3600 South Congress Avenue to KVA Congress LLC BOYNTON BEACH, FL, February 25, 2019 — Cushman & Wakefield has negotiated the sale of 3600 South Congress Avenue, a 47,626-square-foot, multi-tenant light industrial building in Palm Beach County. The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar negotiated the sale on behalf of R.T. Milord Co. of Bridgeview, IL. Jupiter, FL-based KVA Congress, LLC acquired the asset for $6.65 million ($140 per square foot). “KVA Congress, LLC recognized that 3600 South Congress Avenue provided a rare opportunity to acquire a well-maintained and functional industrial asset with proximity to both Boynton Beach and Delray Beach,” said Miller. “There are excellent demand drivers within this micro-market. And, when combined with limited light industrial supply, continued potential for robust rent growth should be realized well into the future.” 3600 South Congress Avenue was developed [...]

2019-03-13T13:23:21-04:00 February 25th, 2019|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Arranges $29.25M Sale of Broward County Office Park

YMP Real Estate Acquired the Four-Building Office Park from Morning Calm Management​ FORT LAUDERDALE, FL, February 19, 2019 — Cushman & Wakefield has arranged the sale of Lakeshore Business Center, a four-building office park in Broward County’s Cypress Creek submarket. The Cushman & Wakefield Capital Markets team of Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner represented Boca Raton, FL-based Morning Calm Management in the sale. Miami-based YMP Real Estate Management, LLC acquired the 237,682-square-foot office park for $29.25 million ($123 per square foot). Lakeshore Business Center comprises four, two-story buildings developed between 1986 and 2000. The campus is located on a ±17.0-acre site at 5100 and 5200 NW 33rd Avenue and 3201–3125 West Commercial Boulevard in Fort Lauderdale. The park’s location midway between Interstate 95 and Florida’s Turnpike — South Florida’s two primary north-south arteries — offers nearly one-quarter mile of prominent frontage along West Commercial Boulevard in the Cypress Creek submarket. “Cypress Creek is Broward County’s second-largest submarket and continues to be a cost [...]

2019-02-21T14:33:34-04:00 February 21st, 2019|Capital Markets, In the News, Office, Press Release|

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 [...]

2018-11-16T15:12:40-04:00 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 [...]

2018-11-01T14:35:08-04:00 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 [...]

2018-10-09T13:26:29-04:00 October 9th, 2018|Capital Markets, In the News, Press Release|