Press Release – Cushman & Wakefield South Florida

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, [...]

Jim McAleese2019-07-31T17:08:42-04:00July 31st, 2019|In the News, Office, Press Release|

Cushman & Wakefield Negotiates Six Leases Totaling ±132,798 SF in Pompano Beach

The Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Have Now Fully Leased Buildings Six, Seven and Eight at the Pompano Center of Commerce POMPANO BEACH, FL, July 25, 2019 — Cushman & Wakefield has negotiated six industrial leases totaling ±132,798 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 Milestone Pavers, Empire Delivery, Larsen’s Manufacturing Company, Farco Plastics, Event Effects Group and ATI Electrical Supply. The leases bring Pompano Center of Commerce II’s existing buildings (Six, Seven and Eight), comprising a total of ±318,062 square feet, to full occupancy. Details of the newly signed leases can be found below: Milestone [...]

Jim McAleese2019-07-25T16:28:04-04:00July 25th, 2019|Florida, In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates ±27,379-SF Lease with Cambria at I–595 Business Center

Christopher Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Have Now Fully Leased the Second Phase of the State-of-the-Art Warehouse, Showroom and Distribution Center in Broward County DANIA BEACH, FL, July 24, 2019 — Cushman & Wakefield has negotiated a ±27,379-square-foot industrial lease with Cambria at I–595 Business Center, bringing the second phase of the Broward County warehouse, showroom and distribution center to full occupancy. The South Florida Industrial Brokerage Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented owner MSG I–595, LLC in negotiating the lease. Wayne Schuchts and Bobby Benton of Avison Young represented Cambria in the lease negotiations. Le Sueur, Minnesota-based Cambria is a leading producer of engineered quartz surfaces for kitchen countertops. The company has locations throughout the United States and Canada. Its space at I–595 will be utilized as a showroom, warehouse and distribution center. I–595 Business Center is a 123,694-square-foot, state-of-the-art, Class A industrial building developed in 2018. [...]

Jim McAleese2019-07-25T16:54:36-04:00July 24th, 2019|In the News, Industrial, 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' [...]

Jim McAleese2019-07-19T12:07:17-04:00July 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 [...]

Jim McAleese2019-07-25T16:54:14-04:00July 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 [...]

Jim McAleese2019-07-25T16:57:09-04:00July 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 [...]

Jim McAleese2019-07-19T12:01:25-04:00July 19th, 2019|In the News, Office, Press Release|

Cushman & Wakefield Negotiates 40,000-SF Expansion/Extension with Infinity Insurance at Doral Concourse

The Expansion Brings the Class A Office Asset to 98% Occupancy MIAMI, July 10, 2019 – Cushman & Wakefield has negotiated a 40,000-square-foot lease expansion and extension with Infinity Insurance, a division of Kemper Corporation, at Doral Concourse. Cushman & Wakefield Managing Director Gordon Messinger and Director Ericka Witkowski, who serve as the exclusive leasing agents for the property, represented landlord DRA Advisors, LLC, in the negotiations. Infinity Insurance is expanding from 20,000 square feet to 40,000 square feet and plans to take occupancy of the additional space on January 1, 2020. With the Infinity Insurance lease expansion, Doral Concourse is now 98% occupied and boasts a strong roster of national and international tenants in a wide variety of industries. “By doubling its footprint and extending its lease, Infinity Insurance has demonstrated a long-term commitment to Doral Concourse that reaffirms the building’s position as the top office asset in the [...]

Jim McAleese2019-07-19T11:29:42-04:00July 19th, 2019|In the News, Press Release|

Cushman & Wakefield Arranges $49M Sale of Whole Foods-Anchored Shopping Center in Fort Myers

AEW Capital Management Acquired the Newly Constructed Daniels Marketplace from S.J. Collins Enterprises FORT MYERS, FL, July 17, 2019 – Cushman & Wakefield has negotiated the sale of Daniels Marketplace, a newly constructed, Class A retail destination in Fort Myers. The 106,739-square-foot shopping center is 100% leased with Amazon-owned Whole Foods Market as its anchor tenant. A Cushman & Wakefield Team comprised of Managing Director Fain Hicks, Vice Chairman Mark Gilbert, Associate Lane Breedlove, Executive Director Adam Feinstein and Director Mitchell Halpern represented Atlanta-based developer S.J. Collins Enterprises in the disposition. The Equity, Debt and Structured Finance team of Mike Ryan, Brian Linnihan and Richard Henry helped secure financing on behalf of the buyer, AEW Capital Management, a global real estate investment firm. At 6891 Daniels Parkway, Daniels Marketplace is favorably positioned at the high traffic intersection of Daniels Parkway and Six Mile Cypress Parkway, which sees 90,000 vehicles per [...]

Jim McAleese2019-07-19T11:12:52-04:00July 19th, 2019|Capital Markets, In the News, Press Release, Retail|

Cushman & Wakefield Arranges Sale of Publix-Anchored Retail Center in Miami-Dade on Behalf of Blackstone

Publix Supermarkets Acquired the 111,990-SF Doral Plaza MIAMI, June 27, 2019 – Cushman & Wakefield has negotiated the sale of Doral Plaza, a 111,990-square-foot, institutional-quality shopping center in Doral, Florida. The Publix Super Market-anchored property is situated in one of Miami-Dade County’s most coveted trade areas for retail ownership. The Cushman & Wakefield Retail Capital Markets Team of Vice Chairman Mark Gilbert, Executive Director Adam Feinstein and Director Mitchell Halpern represented New York-based Blackstone in the disposition. The buyer is Lakeland, Florida-based Publix Super Markets, Inc., which occupies 39,795 square feet in the shopping center. Doral Plaza is situated at 9755 NW 41st St., (NWC of 41st Street and 97th Avenue) , which is nearly equidistant to both interchanges of the Palmetto Expressway and Florida’s Turnpike. The location has visibility to 55,600 vehicles a day and more than 15,000 residents live within a one-mile radius. It is also central to [...]

Jim McAleese2019-08-06T15:21:31-04:00July 3rd, 2019|Capital Markets, Florida, In the News, Press Release, Retail|