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|

‌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|

Cushman & Wakefield Negotiates $20.8M Sale of Core-Plus Office Asset in Broward County

Vanderbilt Office Properties and Barron Colliers Companies Acquired Corporate Center II, a 91,221-SF Building in Sunrise, FL  BROWARD COUNTY, FL, March 8, 2019 – Cushman & Wakefield has arranged the sale of Corporate Center II, a 91,221-square-foot, suburban Class A office building for $20.8M. The asset is situated within Sawgrass International Corporate Park, one of South Florida’s largest suburban office parks, in Sunrise. The Cushman & Wakefield Investment Sales Team of Vice Chairman Mike Davis, Managing Director Dominic Montazemi, Executive Director Scott O’Donnell and Executive Director Rick Brugge represented the U.S. real estate business of UBS Asset Management in the disposition. Vanderbilt Office Properties, a Chicago-based investment management firm, and Barron Collier Companies, a Naples, Florida-based real estate investment company, jointly acquired the asset. At 1571 Sawgrass Corporate Parkway, Corporate Center II is situated on 6.2 acres and is prominently located adjacent to Interstate 75 at the Sunrise Interchange, which sees [...]

2019-03-11T11:00:28-04:00March 8th, 2019|In the News, Office, Press Release|