‌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 [...]

2019-03-13T12:31:03-04:00March 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 [...]

2019-03-13T12:23:24-04:00March 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 [...]

2019-03-13T13:23:21-04:00February 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 [...]

2019-02-21T14:33:34-04:00February 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 [...]

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

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

2018-10-09T13:26:29-04:00October 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 [...]

2018-10-09T13:20:34-04:00October 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 [...]

2018-10-05T11:15:48-04:00October 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 [...]

2018-09-06T16:09:06-04:00September 6th, 2018|Capital Markets, Florida, In the News, Multifamily, Press Release|