Cushman & Wakefield Negotiates Sale and Financing of ADT’s Headquarters​

Scott O’Donnell, Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Michael Lerner Negotiated the $42.05 Million Disposition on Behalf of RAIT Financial Trust. Jason Hochman Secured a $28.6 Million Acquisition Loan for the Buyer, PEBB Enterprises BOCA RATON, FL, June 19, 2018— Cushman & Wakefield has negotiated the sale and financing of ADT Inc.’s 171,489-square-foot global headquarters at 1501 Yamato Road in Palm Beach County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Michael Lerner negotiated the sale on behalf of Philadelphia-based RAIT Financial Trust. In a joint venture partnership, Boca Raton-based PEBB Enterprises and Chicago-based Tortoise Properties, LLC acquired the asset for $42.05 million ($245 per square foot). Jason Hochman, of Cushman & Wakefield’s Equity, Debt & Structured Finance Group, assisted the PEBB/Tortoise team in securing a $28.6 million, non-recourse acquisition loan with a low interest rate and flexible prepayment terms. 1501 Yamato Road was developed in 1983 on a ±10-acre site in southeast Palm Beach County. [...]

2018-06-19T14:16:19+00:00 June 19th, 2018|In the News, Office, Press Release|

Cushman & Wakefield Represents Steelbridge in Two Leases Totaling 32,000 SF at Cypress Financial Center in Fort Lauderdale

The Leasing Team of Travis Herring and Katherine Ridgway Negotiated a New Lease with Patriot National and a Renewal/Expansion with Marcus & Millichap FORT LAUDERDALE, FL, May 16, 2018 – Cushman & Wakefield has negotiated one new lease and one renewal/expansion totaling approximately 32,000 square feet at Cypress Financial Center. The 198,528-square-foot, Class A suburban office building is in Fort Lauderdale’s Cypress Creek submarket. The office leasing team of Executive Director Travis Herring and Director Katherine Ridgway represented the landlord, Steelbridge, in the lease negotiations. The tenants are Fort Lauderdale-based insurance company Patriot National, represented by Stiles Realty, and commercial real estate firm Marcus & Millichap, represented by Cresa. Patriot National leased a 18,828-square-foot space, relocating its headquarters from 401 E. Las Olas Blvd. Marcus & Millichap renewed its lease and expanded by 1,000 square feet for a total of 12,851 square feet. With these leases, Cypress Financial Center is [...]

2018-05-22T14:46:05+00:00 May 22nd, 2018|In the News, Office, Press Release|

Cushman & Wakefield Secures Three New Leases at Renovated BayView Corporate Tower in Fort Lauderdale

Leasing Team of Deanna Lobinsky and Chase Kulp Represented Bridge Commercial Real Estate FORT LAUDERDALE, FL  – Cushman & Wakefield has negotiated three leases totaling 20,000 square feet at BayView Corporate Tower, a recently renovated office building in Fort Lauderdale with 412,520 square feet of Class A office space. The office leasing team of Executive Director Deanna Lobinsky and Associate Chase Kulp represented Bridge Commercial Real Estate in the lease negotiations. The tenants are Rissman, Barrett, Hurt, Donahue, McLain & Mangan PA with 14,559 square feet, Pierson Grant Public Relations, Inc. with 3,757 square feet, and Webb-Mason Inc. with 1,467 square feet. Bridge Office, a subsidiary of Bridge Investment Group, acquired BayView Corporate Tower in September 2016 and recently completed a $5 million renovation program to enhance and modernize the property. Improvements include a roof replacement, new landscaping, and updates to the entryway, lobby, common areas and restrooms. Bridge also [...]

2018-05-21T15:04:51+00:00 May 21st, 2018|In the News, Office, Press Release|

Global Luxury Brand Renews, Expands to 30,000+ SF at 100 Biscayne Boulevard

Cushman & Wakefield Represented Landlord East End Capital in Negotiations MIAMI, April 30, 2018 – LVMH, a global and recognized leader in high-quality products, has renewed and expanded its lease at 100 Biscayne Boulevard in Miami. The company employs approximately 125 people in its Miami office and now occupies over 30,000 square feet in the building. Cushman & Wakefield Managing Director Gordon Messinger represented the landlord, East End Capital, in the lease negotiations. East End Capital purchased 100 Biscayne in 2016 and is investing more than $10 million to reposition the property, which boasts spectacular views across Bayfront Park all the way to Miami Beach and beyond. “LVMH’s long-term commitment and expansion is a testament to East End Capital’s vision for 100 Biscayne and its planned upgrades,” said Messinger. “100 Biscayne’s central location in the heart of Downtown Miami and upcoming improvements are in-line with what tenants in the creative, [...]

2018-05-09T18:14:25+00:00 May 9th, 2018|In the News, Office, Press Release|

FRI Investors Retains Cushman & Wakefield to Lease 108,482-SF, Class A Office Tower in West Palm Beach

625 North Flagler Offers Largest Blocks of Available Office Space in Downtown Market WEST PALM BEACH, FL  – Cushman & Wakefield has been selected as the exclusive leasing advisor for 625 North Flagler, a 108,482-square-foot waterfront office tower in downtown West Palm Beach. The 11-story, Class A property has full-floor suites available for custom build-out as well as spec suites ready for immediate occupancy. FRI Investors and 625 Flagler Acquisition, LLC retained the Cushman & Wakefield team of Michael Feldman, CCIM, Director, and Mark Pateman, Esq., SIOR, Managing Principal, to market the property for lease. Extensive renovations are nearing completion and include updates to the lobby, common areas and the renovation of the attached four-story parking garage. Starting at $26 per square foot, lease rates are considered the most competitive in downtown West Palm Beach for Class A space. Availabilities range from 1,600 to 47,000 square feet, and the property [...]

2018-04-23T18:42:57+00:00 April 9th, 2018|In the News, Office, Press Release|

Cushman & Wakefield to Lease Historic Palm Beach Office Building

Michael Osiecki was selected by Wells Fargo to Lease the 17,326-Square-Foot Office Building at 255 South County Road PALM BEACH, FL — Cushman & Wakefield has been named exclusive leasing advisor for 255 South County Road, a 17,326-square-foot office building located less than one-quarter mile from the Atlantic Ocean in the heart of the exclusive Palm Beach office market. Cushman & Wakefield’s Michael Osiecki was selected to lease the building on behalf of owner Wells Fargo. 255 South County Road was developed in 1927 on a ±2.7-acre parcel at the northwest corner of South County Road and Royal Palm Way. The building is one of 284 landmarks protected under the Historic Preservation Ordinance of the Town of Palm Beach and was recently restored and renovated to provide modern accommodations. 255 South County Road offers ocean views from select suites and features the largest parking ratio in the Palm Beach office market. Availabilities at 255 South County Road from [...]

2018-04-23T18:42:57+00:00 March 28th, 2018|In the News, Office, Press Release|

Cushman & Wakefield Negotiates Woundtech HQ Renewal and Expansion at Venture Corporate Center

Woundtech Expanded by 11,825 Square Feet at the Broward County Office Park HOLLYWOOD, FL  — Cushman & Wakefield has negotiated a 21,697-square-foot headquarters lease expansion and renewal with Woundtech at Venture Corporate Center in Broward County. The Cushman & Wakefield office leasing team of Travis Herring and Katherine Ridgway represented Denver-based Black Creek Group in the lease negotiations. Cushman & Wakefield’s Jeff Holding, A.J. Belt and Christina Stine Jolley represented Woundtech. Woundtech provides a telehealth-based platform where bedside clinicians collaborate with wound care nurses in a call center. Woundtech offers comprehensive wound care to health plan and medical group patients residing in private homes, skilled nursing and assisted living facilities, utilizing the most advanced wound care products. Woundtech currently houses its administrative and call center operations in a 9,872-square-foot space in Venture Corporate Center I. The company is relocating to Venture Corporate Center II and expanding by 11,825 square feet with this lease. Build-out of the new space will be completed by May. Venture Corporate Center is [...]

2018-04-23T18:42:58+00:00 March 28th, 2018|In the News, Office, Press Release, Tenant Representation|

Cushman & Wakefield Brings BAC Colonnade to Full Occupancy with ±19,000-SF Lease by Cyxtera Technologies

Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza Negotiated the Lease Renewal and Expansion CORAL GABLES, FL — Cushman & Wakefield has negotiated an 18,829-square-foot office lease expansion and renewal with Cyxtera Technologies, Inc. at BAC Colonnade. The lease brings the 205,295-square-foot, Class A office tower to full occupancy. The Cushman & Wakefield office leasing team of Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza represented building owner AEW Capital Management, LP in the lease negotiations. Cyxtera was represented by JLL’s Alan Kleber. Cyxtera, a global technology leader, is headquartered in the BAC Colonnade building. The company, which employs more than 1,300 people worldwide, renewed its existing 11,894-square-foot lease and added 6,935 square feet to its footprint. BAC Colonnade is an iconic urban landmark developed in 1988. The 11-story, 205,295-square-foot, Class A office tower is ENERGY STAR-rated and features ample parking in an attached garage, institutional ownership and on-site management. The building shares space with the Hotel Colonnade, which provides tenants with [...]

2018-04-23T18:42:58+00:00 March 15th, 2018|In the News, Office, Press Release|

Cushman & Wakefield to Lease ±101,000-SF Saber Centre I

John K. Criddle and Joseph J. Freitas to Lease the Mid-Rise Office Building in Boca Raton’s The Park at Broken Sound BOCA RATON, FL — Cushman & Wakefield has been named exclusive leasing advisor for Saber Centre I, a 101,347-square-foot office building in Palm Beach County. The Cushman & Wakefield office leasing team of John K. Criddle and Joseph J. Freitas has been hired by G&C Sabre Investors, LLC, an affiliate of Pompano Beach, FL-based real estate investment group Grover Corlew. Saber Centre I is a six-story, Class A office building offering efficient floor plates with unparalleled golf course views of The Old Course at Broken Sound. Criddle and Freitas were selected to reposition and rebrand Saber Centre I as the Grover Corlew team is months away from finishing a complete lobby, common area and elevator modernization. “The high-floor penthouse vacancy at Saber Centre I offers over 17,500 square feet of sweeping golf course views making it one [...]

2018-04-23T18:42:58+00:00 March 14th, 2018|In the News, Office, Press Release|

Cushman & Wakefield Negotiates $6M Sale of Allapattah Commercial Property

The Cushman & Wakefield South Florida Commercial Team Negotiated the Disposition of the ±33,000-Square-Foot Centennial Express Building on Behalf of Centennial Express, Inc. MIAMI, FL, March 9, 2018 — Cushman & Wakefield has negotiated the sale of the Centennial Express Building, a 33,339-square-foot commercial property in Miami’s Allapattah neighborhood. The Cushman & Wakefield Capital Markets team of Miguel Alcivar and Dominic Montazemi, in conjunction with Cushman & Wakefield leasing partners Tony Jones and Frank Begrowicz, negotiated the disposition on behalf of Centennial Express, Inc. New York-based Edenderry Properties, LLC acquired the asset for $6 million ($180 per square foot). Scott Sime of Sime Realty Corporation represented the buyer. The Centennial Express Building was developed in 1945 on a ±1.7-acre parcel at 1251 NW 36th Street. The concrete block building occupies an entire city block. The property is centrally located along NW 36th Street, a main east-west arterial connecting the trendy neighborhoods surrounding Biscayne Boulevard to Miami International Airport and Doral. This location, just north [...]

2018-04-23T18:42:58+00:00 March 12th, 2018|Capital Markets, In the News, Office, Press Release, Retail|