Press Release – Cushman & Wakefield South Florida

Cushman & Wakefield Promotes Mike Agnew to Lead Florida Asset Services

A 25-Year Veteran of Cushman & Wakefield, Agnew Will Oversee the Firm’s Statewide Asset Services Operation Encompassing Over 40 Million Square Feet FLORIDA, December 10, 2018 – Cushman & Wakefield is pleased to announce that Mike Agnew will now serve as Senior Managing Director of Asset Services in Florida. With this promotion, Agnew will oversee the firm’s statewide Asset Services operation, which employs 260 professionals and currently encompasses 327 office, industrial and retail properties comprising more than 42 million square feet of space. Agnew brings 25 years of experience with Cushman & Wakefield to this new position. He has served in leadership roles with the firm’s Asset Services division for the majority of his career, demonstrating proven excellence in helping clients maximize property value and achieve their long-term real estate goals. “In my career I have had the honor of seeing Cushman & Wakefield evolve into a leading commercial real [...]

Jim McAleese 2018-12-10T11:09:59+00:00 December 10th, 2018|Florida, In the News, Press Release|

Cushman & Wakefield Negotiates Three Leases Totaling ±76,000 SF at Pompano Center of Commerce II

The Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Secured Leases with Crown Products, Warehouse Restaurant Supply and Gourmet Innovations POMPANO BEACH, FL, November 9, 2018 — Cushman & Wakefield has negotiated three industrial leases totaling 76,105 square feet at Pompano Center of Commerce II, a new warehouse and distribution center developed by Butters Construction & Development in Broward County. The South Florida Industrial Brokerage Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented Pompano Industrial Venture, LLC, a joint development between Butters Construction & Development and an institutional capital partner, in securing leases with Crown Products, Warehouse Restaurant Supply and Gourmet Innovations. The leases bring Buildings Six, Seven and Eight of Pompano Center of Commerce II to 67 percent occupancy. A total of 106,193 square feet of space remains available in these three buildings, which total 318,062 square feet. All three tenants are expected to take occupancy in Pompano Center of Commerce II [...]

Jim McAleese 2018-11-16T15:18:32+00:00 November 16th, 2018|In the News, 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 [...]

Jim McAleese 2018-11-16T15:12:40+00:00 November 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 [...]

Jim McAleese 2018-11-01T14:35:08+00:00 November 1st, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Negotiates $18.25M Sale of Downtown Miami Parking Garage on Behalf of Crocker Partners

Mishorim Investments Acquired the 0.86-Acre Property at 255 NE First St. MIAMI, October 24, 2018 – Cushman & Wakefield has arranged the sale of a seven-story, 756-space parking garage in downtown Miami for $18.25 million to Mishorim Investments. At 255 NE First St., the 257,712-square-foot garage is situated on 0.86 acres and possesses significant redevelopment potential. Robert Given, Errol Blumer, Troy Ballard and Steve Aiken, with Cushman & Wakefield’s South Florida Multifamily Team represented Crocker Partners, a commercial real estate investment firm headquartered in Boca Raton, Florida, in the disposition. The buyer, Mishorim Investments, invests in a variety of commercial asset types in the United States and Israel, and owns several retail/mixed-use properties in Florida, including the ground-floor retail component of Centro Miami. Situated adjacent to the First Street MetroMover Station, the property offers exceptional accessibility throughout downtown Miami and is surrounded by more than 6 million square feet of office space, [...]

Jim McAleese 2018-11-01T13:43:40+00:00 October 24th, 2018|Florida, In the News, Multifamily, 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 [...]

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|