Cushman & Wakefield Brokers $55M Financing of Luxury, 292-Unit Apartment Community in Fort Lauderdale  

Riverview Peninsula Investments Acquired ORA Flagler Village with a Fixed-Rate Loan from Nuveen FORT LAUDERDALE, FL, September 23, 2019 – Cushman & Wakefield has negotiated the financing in the acquisition of ORA Flagler Village, a newly completed, 292-unit luxury mid-rise apartment community in Fort Lauderdale. The Cushman & Wakefield Equity Debt & Structured Finance Team of Senior Director Chris Lentz and Executive Managing Director Robert Kaplan secured a $55 million, 12-year fixed-rate loan with Nuveen on behalf of the buyer, Riverview Peninsula Investments. Fairfield Residential sold the asset for an undisclosed price. ORA Flagler Village is situated at 673 NE Third St. in Fort Lauderdale’s burgeoning Flagler Village submarket. The six-story property was completed in 2018 and was 95% occupied at the time of sale. It offers 26 distinct floorplans that average 856 square feet and range from functional studios to spacious two-bedroom residences. Amenities include an expansive pool with [...]

2019-09-27T16:18:03-04:00September 23rd, 2019|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $54.4M Sale of 550 Biltmore in Coral Gables

A Global Real Estate Investment Manager Sold the 162,293-Square-Foot, Class A Office Building to CGI Merchant Group MIAMI, FL, June 24, 2019 — Cushman & Wakefield has arranged the sale of 550 Biltmore, a 162,293-square-foot, Class A office building in Coral Gables. The Cushman & Wakefield Capital Markets team of Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O'Donnell and Rick Brugge, assisted by the office leasing team of Brian Gale and Ryan Holtzman, negotiated the sale on behalf of a global real estate investment manager. Miami-based CGI Merchant Group acquired the building for $54.4 million ($336 per square foot). 550 Biltmore is a 16-story office building developed in 1986 at 550 Biltmore Way. The pyramid-shaped building features distinctive Art Deco architecture and luxurious finishes including Italian travertine walls with marble and granite accent features, burled walnut elevator cabs and an impressive lobby with polished stone and brushed metallic finishes. The property’s unique, tiered design offers varying floor plate sizes, providing outdoor terraces overlooking Coral Gables' [...]

2019-07-19T12:07:17-04:00July 24th, 2019|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Arranges Sale of Third Allapattah property on Behalf of Private Owner

The Value-Add Assets are Located in Miami’s Evolving Allapattah Neighborhood MIAMI, July 19, 2019 – Cushman & Wakefield has arranged the sale of Bank of America Center in Miami’s emerging Allapattah neighborhood for $7.7 million. This is the third of three value-add assets sold for this owner since 2018, which together totaled $17.6 million. Bank of America Center is located within a Qualified Opportunity Zone, offering potential benefits for the new owner. The Cushman & Wakefield Capital Markets team of Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Tony Jones and Frank Begrowicz represented the Miami-based Seller, an investment group affiliated with the principals of Golden Sands, in all three transactions. Scott Sime of Sime Realty Corporation represented the buyer. New York-based Edenderry Properties, LLC acquired Bank of America Center for $7.7 million. The prominent, six-story, 68,174-square-foot office building is located at 1313 NW 36th St. The property is 88.8% leased to a [...]

2019-07-25T16:57:09-04:00July 19th, 2019|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Arranges $49M Sale of Whole Foods-Anchored Shopping Center in Fort Myers

AEW Capital Management Acquired the Newly Constructed Daniels Marketplace from S.J. Collins Enterprises FORT MYERS, FL, July 17, 2019 – Cushman & Wakefield has negotiated the sale of Daniels Marketplace, a newly constructed, Class A retail destination in Fort Myers. The 106,739-square-foot shopping center is 100% leased with Amazon-owned Whole Foods Market as its anchor tenant. A Cushman & Wakefield Team comprised of Managing Director Fain Hicks, Vice Chairman Mark Gilbert, Associate Lane Breedlove, Executive Director Adam Feinstein and Director Mitchell Halpern represented Atlanta-based developer S.J. Collins Enterprises in the disposition. The Equity, Debt and Structured Finance team of Mike Ryan, Brian Linnihan and Richard Henry helped secure financing on behalf of the buyer, AEW Capital Management, a global real estate investment firm. At 6891 Daniels Parkway, Daniels Marketplace is favorably positioned at the high traffic intersection of Daniels Parkway and Six Mile Cypress Parkway, which sees 90,000 vehicles per [...]

2019-07-19T11:12:52-04:00July 19th, 2019|Capital Markets, In the News, Press Release, Retail|

Cushman & Wakefield Arranges Sale of Publix-Anchored Retail Center in Miami-Dade on Behalf of Blackstone

Publix Supermarkets Acquired the 111,990-SF Doral Plaza MIAMI, June 27, 2019 – Cushman & Wakefield has negotiated the sale of Doral Plaza, a 111,990-square-foot, institutional-quality shopping center in Doral, Florida. The Publix Super Market-anchored property is situated in one of Miami-Dade County’s most coveted trade areas for retail ownership. The Cushman & Wakefield Retail Capital Markets Team of Vice Chairman Mark Gilbert, Executive Director Adam Feinstein and Director Mitchell Halpern represented New York-based Blackstone in the disposition. The buyer is Lakeland, Florida-based Publix Super Markets, Inc., which occupies 39,795 square feet in the shopping center. Doral Plaza is situated at 9755 NW 41st St.,  (NWC of 41st Street and 97th Avenue) , which is nearly equidistant to both interchanges of the Palmetto Expressway and Florida’s Turnpike. The location has visibility to 55,600 vehicles a day and more than 15,000 residents live within a one-mile radius. It is also central to [...]

2019-08-06T15:21:31-04:00July 3rd, 2019|Capital Markets, Florida, In the News, Press Release, Retail|

Cushman & Wakefield Arranges $32.5M Sale and $24.8M Financing of Hillsboro Center

A Joint Venture of TriGate Capital, Equitable Real Estate Partners and Commercial Florida Realty Partners sold the Five-Building Office Campus to Grover Corlew. Bank United Provided Acquisition Financing. DEERFIELD BEACH, FL, March 21, 2019 — Cushman & Wakefield has arranged the sale and financing of Hillsboro Center, a five-building, 216,114-square-foot office campus in Broward County. The Cushman & Wakefield Capital Markets team of Mike Davis, Scott O’Donnell, Dominic Montazemi, Rick Brugge, Greg Miller and Miguel Alcivar negotiated the sale on behalf of a joint venture between TriGate Capital, Equitable Real Estate Partners and Commercial Florida Realty Partners. Grover Corlew, of Pompano Beach, Florida, acquired the buildings for $32.5 million ($150 per square foot). Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance group secured a $24.8 million acquisition loan from Bank United on behalf of Grover Corlew. Hillsboro Center is a value-add office portfolio comprising five buildings developed between 1983 and 1985 on a ±14.02-acre campus at 600 and 700 West Hillsboro Boulevard. The property consists of one, Class A six-story office [...]

2019-03-26T17:15:49-04:00March 21st, 2019|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Negotiates $8.55M Sale of Miami 25 @ MIC

The Cushman & Wakefield Team of Miguel Alcivar, Wayne Ramoski, Dominic Montazemi, Scott O’Donnell and Gian Rodriguez Represented DFJ East Properties LLC in the Disposition of the Small-Bay Flex Industrial Asset MIAMI, March 15, 2019 — Cushman & Wakefield has negotiated the sale of Miami 25 @ MIC (Miami Intermodal Center), a 77,820-square-foot small-bay flex industrial property. The Cushman & Wakefield team of Miguel Alcivar, Wayne Ramoski, Scott O’Donnell, Dominic Montazemi and Gian Rodriguez represented Miami-based DFJ East Properties LLC in the sale. MIA at 25th Street LLC acquired the asset for $8.55 million ($110 per square foot). Miami 25 @ MIC is situated on a ±3.44 acre site at 3901 - 3977 NW 25th Street and 3900 - 3960 NW 26th Street in Miami. The property is strategically located across NW 25th Street from Miami Intermodal Center (MIC) and just east of Miami International Airport (MIA). MIC is a massive $2 billion multi-modal ground transportation hub developed by the State of Florida Department of Transportation. MIC [...]

2019-03-26T12:43:30-04:00March 15th, 2019|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Brings Luxury South Beach Multifamily Portfolio to Market

Portfolio Consists of Six Fully Renovated Properties Totaling 104 Units MIAMI, March 15, 2019 — Cushman & Wakefield, as exclusive marketing agent, has launched the marketing campaign for a portfolio of six luxury multifamily properties comprising 104 units in Miami’s South Beach. Each property has been completely renovated with a total of over $7 million in capital improvements. Executive Managing Director Calum Weaver, Senior Financial Analyst Perry Synanidis, Vice Chairman Robert Given, Executive Managing Director Zachary Sackley and Executive Managing Director Troy Ballard, with Cushman & Wakefield’s Florida Multifamily Investment Sales Team, are marketing the portfolio’s disposition on behalf of the seller. The portfolio is being marketed as Lux South Beach. The six buildings in the portfolio are situated in the heart of South Beach, within walking distance to the world-famous attractions on Lincoln Road, Ocean Drive, Collins Avenue and Washington Avenue. The portfolio is currently 98.1 percent occupied with [...]

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 [...]

2019-03-13T13:32:50-04:00March 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 [...]

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