Cushman & Wakefield Represents Investment Fund in $11.75M Sale of Fort Lauderdale’s 2601 Building

MHC Oakland Park Owner LLC Acquired the Six-Story Office Building from 2601 M L Fund, LLC FORT LAUDERDALE, FL, September 9, 2019 — Cushman & Wakefield has negotiated the sale of the 2601 Building, a premier ±59,942-square-foot office asset in Broward County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Greg Miller, Miguel Alcivar, Jason Hochman and Michael Ciadella negotiated the sale on behalf of 2601 M L Fund, LLC, a Netz USA LLC holding company. MHC Oakland Park Owner LLC acquired the building for $11.75 million ($196 per square foot). Frank M. Micali, CCIM of Netz USA LLC represented the fund in the sale. The 2601 Building is a six-story, multi-tenant office building originally developed in 1966. The property sits on a ±1.24-acre site at 2601 East Oakland Park Blvd. After suffering significant damage during Hurricane Wilma in 2005, the building was gutted and rebuilt in 2007 with new roofs, mechanical systems and modern interior build-outs. The 2601 Building is centrally located in [...]

2019-10-01T12:49:42-04:00September 9th, 2019|Florida, In the News, Office, Press Release|

Cushman & Wakefield Negotiates Sale of 82KSF Suburban Office Park Operated as Executive Suites in Broward County, FL

Prive Land Banking Acquired Flamingo Commons for $17M BROWARD COUNTY, FL, August 7, 2019 – Cushman & Wakefield has arranged the sale of Flamingo Commons, an eight-building, 81,959-square-foot, suburban office park, for $17M. The property is situated in the town of Davie, located in the high-performing office submarket of Southwest Broward County. The Cushman & Wakefield Capital Markets team of Greg Miller, Miguel Alcivar, Scott O’Donnell, Dominic Montazemi, and Mike Ciadella negotiated the sale on behalf of the seller, Flamingo Commons, LLC. The buyer is Prive Land Banking, a Miami-based investment firm. Flamingo Commons was 95% occupied at the time of sale. Notable tenants include Flamingo Commons Dental, Mazzola's West Italian Restaurant, Shades of Red Salon and The Gordon Group Luxury Cruise Planners. The property was completed between 2002 and 2006 and comprises two two-story buildings and six one-story buildings. There are two additional one-story buildings on the property that were not included [...]

2019-10-15T18:40:39-04:00August 7th, 2019|In the News, Office, Press Release|

Cushman & Wakefield Negotiates $19.35M Sale and $18.4M Financing of West Palm Beach Office Tower

Capstone Acquired the 11-Story Office Building from an Affiliate of Breakers Capital. Blue Vista Finance Provided Acquisition Financing. WEST PALM BEACH, FL, July 31, 2019 — Cushman & Wakefield has negotiated the sale and financing of 1700 Palm Beach Lakes, a ±113,964-square-foot, Class A office building in Palm Beach County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Greg Miller, Miguel Alcivar and Michael Ciadella, with significant support from Cushman & Wakefield agency leasing specialist Anthony Librizzi, negotiated the sale on behalf of 1700 PBL LLC, an affiliate of Miami-based Breakers Capital. Hackensack, New Jersey-based Capstone acquired the buildings for $19.35 million ($170 per square foot). Jason Hochman of Cushman & Wakefield’s  assisted the purchaser in securing an $18.4 million acquisition loan from Blue Vista Finance on behalf of Capstone. 1700 Palm Beach Lakes is an 11-story office tower developed in 1988 on a ±1.24-acre site at 1700 Palm Beach Lakes Boulevard. The property features structured parking, a covered entrance and premium interior finishes, [...]

2019-07-31T17:08:42-04:00July 31st, 2019|In the News, Office, 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 $8.7M Sale of 300 International Parkway

Greg Miller, Scott O’Donnell and Dominic Montazemi of Cushman & Wakefield’s Capital Markets Team, in conjunction with the Cushman & Wakefield Industrial Team Chris Metzger, Rick Etner Jr. and Christopher Thomson, Represented HS Real Estate Capital GPC, LLC, in the Disposition of the Building SUNRISE, FL, July 22, 2019 — Cushman & Wakefield has arranged the sale of 300 International Parkway, a ±58,961-square-foot warehouse and distribution center in Broward County. The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O'Donnell and Dominic Montazemi, accompanied by the Cushman & Wakefield Industrial team of Chris Metzger, Richard F. Etner Jr. and Christopher Thomson, negotiated the sale on behalf of HS Real Estate GPC, LLC, an affiliate of Fort Lauderdale-based SunCap Opportunity Fund, LLC, which has invested more than $30 million in industrial assets in the past six months. Le Forte Investment, LLC purchased the property for $8.7 million ($148 per square foot). 300 International Parkway is fully occupied by Hydraulic Supply Company. For more than [...]

2019-07-25T16:54:14-04:00July 22nd, 2019|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 to Lease ±354,000-SF Radice Corporate Center

John Criddle and Joseph Freitas were Named Exclusive Leasing Advisors for All Three Buildings at the Radice Corporate Center Office Campus FORT LAUDERDALE, FL, July 16, 2019 — The Cushman & Wakefield office leasing team of John Criddle and Joseph Freitas has been named exclusive leasing advisor for Radice Corporate Center in Broward County. Radice Corporate Center is a 353,975-square-foot, three-building, Class A office campus in the Cypress Creek office submarket. The office park comprises Radice Corporate Center I at 600 Corporate Drive, Radice Corporate Center II at 800 Corporate Drive and Radice Corporate Center III at 1000 Corporate Drive. Radice Corporate Center I is a six-story, 102,350-square-foot building featuring 18,000-square-foot floor sizes and renovated common areas and bathrooms. The building was constructed on the ±4.0-acre site in 1984. Radice Corporate Center II is a seven-story, 122,625-square-foot building developed in 1986 on a ±6.7-acre site. The asset offers 18,000-square-foot floor plates, renovated common areas and bathrooms, new elevators, a [...]

2019-07-19T12:01:25-04:00July 19th, 2019|In the News, Office, Press Release|

Cushman & Wakefield Negotiates 43,624-SF HQ Lease With Parbel at Waterford Atrium​

Jeannette Mendoza, Brian Gale, Ryan Holtzman, Andrew Trench and Lena Weeks Represented MetLife Real Estate Investors in Securing the Largest Office Lease Executed in the Airport West Submarket This Year​ MIAMI, FL, April 8, 2019 — Cushman & Wakefield has negotiated a 43,624-square-foot lease renewal with Parbel at Waterford Atrium in Miami’s Waterford at Blue Lagoon business park. According to Cushman & Wakefield research, this is the largest office lease executed in the Airport West submarket this year. The Cushman & Wakefield office leasing team of Jeannette Mendoza, Brian Gale, Ryan Holtzman, Andrew Trench and Lena Weeks negotiated the lease on behalf of owner MetLife Real Estate Investors. John Marshall and Randy Carballo of JLL represented Parbel in the lease negotiations. Parbel renewed its space in 6100 Waterford, located at 6100 Blue Lagoon Drive. Formerly Helena Rubinstein Inc. and now a subsidiary of L’Oreal, Parbel distributes cosmetics, perfumes and beauty products. The company houses its headquarters at Waterford Atrium. “This was a very [...]

2019-05-13T14:21:03-04:00April 8th, 2019|Florida, In the News, Office, Press Release|

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|