Press Release – Cushman & Wakefield South Florida

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 [...]

Jim McAleese 2018-10-09T13:26:29+00:00 October 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 [...]

Jim McAleese 2018-10-09T13:20:34+00:00 October 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 [...]

Jim McAleese 2018-10-05T11:15:48+00:00 October 5th, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Brings a Progressive Garden Apartment Project to Market in Greater Ft. Lauderdale

The South Florida Multifamily Team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor were selected to market the 394-Unit Elan Maison FT. LAUDERDALE, FL, September 20, 2018 — Cushman & Wakefield has been named exclusive advisor for the disposition of Elan Maison, a 394-unit trophy multifamily community located in Davie, Florida, just west of Fort Lauderdale. The South Florida Multifamily team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor were selected to market the asset, which is being brought to market unpriced. Elan Maison features a mix of three- and four-story buildings with enclosed air-conditioned corridors. The community offers nine distinct floor plans ranging from one-bedroom residences to spacious three-bedroom apartment homes. Select units have direct access garages and there are 48 attached garages and 34 detached garages within the property. Units average 999 square feet with average market rents of $2,043 ($2.04 per square foot). [...]

Jim McAleese 2018-10-01T16:09:40+00:00 October 1st, 2018|In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates 20,500-SF Lease with Kubicki Draper at IP Capital Partners’ Datran Center

Brian Gale and Andrew Trench Represented the Landlord, Tony Jones and Jeff Holding Represented the Tenant MIAMI, September 28, 2018 – Cushman & Wakefield has negotiated a 20,511-square-foot lease at Datran Center, a two-building, Class A office property in the Miami area. The lease marks the largest relocation to Miami’s Dadeland/Kendall submarket this year. Vice Chairman Brian Gale and Managing Director Andrew Trench represented the landlord, IP Capital Partners, a private real estate investment and asset management firm headquartered in Boca Raton. Executive Director Tony Jones and Executive Director Jeff Holding represented the tenant, Kubicki Draper, a defense litigation law firm, which is relocating from 25 W. Flagler St. in downtown Miami. Datran Center consists of two 17-story buildings totaling approximately 475,000 square feet, as well as an attached 300-room Marriott hotel. It is directly connected to the South Dadeland Station of the Metrorail Rapid Transit System, offering an easy [...]

Jim McAleese 2018-09-28T10:44:53+00:00 September 28th, 2018|In the News, Office, Press Release|

Alliance Residential Retains Cushman & Wakefield to Market Luxury, Waterfront Community in Fort Lauderdale

Broadstone Harbor Beach has 394 Luxury Waterfront Units Situated Along the Famed 17th Street Causeway, at the Entrance to Fort Lauderdale Beach’s Resorts and Port Everglades FORT LAUDERDALE, FL, September 18, 2018 — Cushman & Wakefield, as exclusive marketing agent, has launched the marketing campaign for Broadstone Harbor Beach, a 394-unit, luxury, midrise rental community in Fort Lauderdale. The property was completed in 2017 by developer Alliance Residential and is being offered for sale for the first time. The marketing team for Broadstone Harbor Beach will be led by Vice Chairman Robert Given, Executive Managing Director Zachary Sackley, Senior Director Troy Ballard and Director Neal Victor of Cushman & Wakefield’s Florida Multifamily Investment Sales Team. At 1721 17th Street, Broadstone Harbor Beach is one of just seven waterfront multifamily communities in Broward County. The property is located at the epicenter of the “Yachting Capital of the World” and many of [...]

Jim McAleese 2018-09-26T12:39:39+00:00 September 26th, 2018|In the News, Press Release|

Cushman & Wakefield Brings International Game Fish Association’s HQ to Market

The Capital Markets Team of Scott O’Donnell, Dominic Montazemi, Greg Miller and Miguel Alcivar were Selected to Market the ±60,000-Square-Foot Home of the IGFA DANIA BEACH, FL, September 26, 2018 — Cushman & Wakefield has been named exclusive advisor in the disposition of the International Game Fish Association’s (IGFA) headquarters in Broward County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Greg Miller and Miguel Alcivar were selected to market the property on behalf of the IGFA. IGFA recently announced plans to relocate its headquarters elsewhere in South Florida. The 59,797-square-foot asset will go to market unpriced. Cushman & Wakefield research shows comparable assets in the region trading at more than $300 per square foot. The three-story building was developed in 1999 on a ±12.7-acre site at 300 Gulfstream Way in Sportsman’s Park. The uniquely designed asset provides exceptional visibility with direct frontage on Interstate 95, ample parking and IROC (Industrial) zoning by the City of Dania Beach, allowing [...]

Jim McAleese 2018-10-01T09:39:57+00:00 September 26th, 2018|In the News, Office, Press Release|

Crocker Partners and Walton Street Capital Select Cushman & Wakefield to Lease 1.1M-SF Trophy Miami Office Park

Credit: Paul McDermott Photography Team of Brian Gale, Andrew Trench, Ryan Holtzman, Jeanette Mendoza and Lena Weeks Will Oversee Leasing for The Landing at MIA MIAMI, September 19, 2018 – Cushman & Wakefield has been selected as the exclusive leasing advisor for The Landing at MIA, a 1.1 million-square-foot office park, just west of Miami International Airport. Crocker Partners and Walton Street Capital recently acquired the property as a joint-venture, and ownership retained the Cushman & Wakefield team of Vice Chairman Brian Gale, Managing Director Andrew Trench, Managing Director Ryan Holtzman, Director Jeannette Mendoza and Associate Lena Weeks to lease the office park. The Landing at MIA is a world-class suburban office park situated on 50 lush acres at 200-7665 Corporate Center Drive in Miami’s Airport West submarket. At the intersection of Dolphin Expressway and Palmetto Expressway, it is approximately five miles west of Miami International Airport. The [...]

Jim McAleese 2018-09-20T13:49:26+00:00 September 20th, 2018|In the News, Office, Press Release|

Cushman & Wakefield Negotiates ±105,652 SF HQ Lease with Aldora in Broward County

Richard F. Etner Jr., Chris Metzger, Christopher Thomson and Matthew G. McAllister Represented Owner Exeter Property Group in Securing the Lease at 4250 Coral Ridge Drive CORAL SPRINGS, FL, September 20, 2018 — Cushman & Wakefield has negotiated a long-term, 105,642-square-foot lease with Aldora Aluminum and Glass Products at 4250 Coral Ridge Drive in northern Broward County. The South Florida Industrial team of Richard F. Etner Jr., Chris Metzger, Christopher Thomson and Matthew G. McAllister negotiated the lease on behalf of Conshohocken, PA-based building owner Exeter Property Group. MJ Ridenour of Coldwell Banker Commercial NRT represented Aldora. Aldora is an industry leader in glass and aluminum fabrication, producing a full line of glass, mirror, window and facade products, including hurricane-resistant aluminum storefronts and entry systems. The company is currently headquartered in Miramar at 11500 Miramar Parkway, but will relocate those operations to 4250 Coral Ridge Drive by the summer of 2019. Aldora serves more than 500 glaziers from North Carolina to the Caribbean and currently [...]

Jim McAleese 2018-09-25T13:56:06+00:00 September 20th, 2018|In the News, 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 [...]

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