Press Release – Cushman & Wakefield South Florida

Cushman & Wakefield Negotiates Sale of 69-Unit, Luxury Townhome Community in Hollywood, FL for $23M

Calum Weaver Represented Royal Oaks United, LLC in the Disposition HOLLYWOOD, FL (August 6, 2018) – Cushman & Wakefield has negotiated the sale of Royal Oaks Townhomes in Hollywood, FL, for $22.78 million. The luxury townhome community has 69 units and was 90 percent occupied at the time of sale. Executive Managing Director Calum Weaver, with Cushman and Wakefield’s Florida Multifamily Team, represented the seller, Royal Oaks United, LLC, in the disposition of the property. The buyer is Preston Giuliano Capital Partners, LLC, a private investment firm focused on the acquisition and repositioning of multifamily real estate in South and Central Florida. Royal Oaks Townhomes was completed in 2009. The fully gated community sits on 5.19 acres and features two-story units with three bedrooms, 2.5 bathrooms and 1,695 square feet of living space. Each residence includes a private garage, terraces and balconies and a semi-private back yard. Luxury community amenities [...]

Jim McAleese 2018-08-08T14:42:33+00:00 August 8th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $23M Sale of Airport East Distribution Center

The Cushman & Wakefield Team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner Represented Equitable Real Estate Partners in the Disposition MIAMI, FL, August 6, 2018— Cushman & Wakefield has negotiated the sale of Airport East Distribution Center, a 397,585-square-foot distribution complex in Miami-Dade County. The Cushman & Wakefield team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner represented Miami-based Equitable Real Estate Partners in the disposition. The asset was acquired by CenterPoint Properties for $22.96 million ($58 per square foot). Airport East Distribution Center is a three-building industrial campus featuring concrete block construction, 18- to 22-foot clear heights, sizeable truck courts and exterior storage. The campus is situated on an ±18-acre site providing ample space for parking and staging. The complex was 76 percent leased at the time of sale. Airport East Distribution Center is located at 7000 NW 32nd Avenue, strategically positioned near Miami International Airport and PortMiami in the East Hialeah submarket. “Airport [...]

Jim McAleese 2018-08-08T14:05:42+00:00 August 8th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates $11.5M Sale of Hollywood Medical Office Building

Scott O’Donnell, Greg Miller, Dominic Montazemi, Miguel Alcivar and Jason Hochman Represented SF Partners in the Disposition. HOLLYWOOD, FL, July 30, 2018— Cushman & Wakefield has negotiated the sale of the Hollywood Medical Office Building, a ±57,815-square-foot facility on the campus of Memorial Regional Hospital South in Broward County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Greg Miller, Dominic Montazemi, Miguel Alcivar and Jason Hochman along with office leasing expert Donna Korn negotiated the sale on behalf of Miami-based SF Partners. A private real estate investment company acquired the asset for $11.5 million ($199 per square foot). The Hollywood Medical Office Building was developed in 1975. The five-story structure sits on a ±1.78-acre site at 3700 Washington Street approximately one-half mile west of Interstate 95 between the Hollywood Boulevard and Pembroke Road interchanges. The property, along with Hollywood Medical Plaza II, is one of only two medical office buildings on the Memorial Regional Hospital South campus. The building was 84 percent occupied at [...]

Jim McAleese 2018-07-30T15:03:01+00:00 July 30th, 2018|Florida, In the News, Office, Press Release|

Cushman & Wakefield Assists in Sale Negotiation of 39,000-SF Value-Add Industrial Portfolio in Jupiter, Florida

Scott O’Donnell, Robert Smith, Dominic Montazemi, Miguel Alcivar and Greg Miller Represented Seller in the Disposition JUPITER, FL, July 24, 2018 – Cushman & Wakefield has assisted the seller in negotiating the sale of The Pointe at Jupiter Park of Commerce, a 39,328-square-foot, two-building light industrial portfolio in Jupiter, Florida, for $5.2 million, or approximately $132 per square foot. Cushman & Wakefield Executive Director Scott O’Donnell, Managing Director Dominic Montazemi, Director Miguel Alcivar and Senior Associate Greg Miller, along with CBRE Executive Vice President Robert Smith, represented the seller, 1201 JCP TIC, LLC & CKJCP TIC, LL, in the transaction. The buyer is Nationwide Development Corporation. The property sits on 3.17 acres at 1201 and 1251 Jupiter Park Drive. The 1201 building consists of 23,660 square feet with 19,660 square feet of office/showroom space and 4,000 square feet of fully air-conditioned warehouse space. The 1251 building consists of 15,578 square [...]

Jim McAleese 2018-07-26T14:56:56+00:00 July 26th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Leases ±53,000 Square Feet at Waterford Atrium

Jeannette Mendoza, Brian Gale, Ryan Holtzman and Andrew Trench Represented MetLife Real Estate Investors in Securing Eight Office Leases MIAMI, FL, July 17, 2018 — Through the first two quarters of 2018, Cushman & Wakefield has negotiated eight office leases at Waterford Atrium totaling 52,674 square feet. The Cushman & Wakefield office leasing team of Jeannette Mendoza, Brian Gale, Ryan Holtzman and Andrew Trench represented owner MetLife Real Estate Investors. Waterford Atrium is a three-building, 495,870-square-foot Class A office campus located at 6100 Blue Lagoon Drive (6100 Waterford), 6303 Blue Lagoon Drive (6303 Waterford) and 6505 Blue Lagoon Drive (6505 Waterford) in Miami’s Waterford at Blue Lagoon business park. Cushman & Wakefield secured a mix of new, renewal and expansion leases with Executive Data Systems, The Art of Shaving, RS&H, Odebrecht Construction, Club Med Sales, Marcelo Law Group, American Prime and Banyan Health Systems. Executive Data Systems leased 7,971 square [...]

Jim McAleese 2018-07-17T16:57:44+00:00 July 17th, 2018|Florida, In the News, Office, Press Release|

Cushman & Wakefield Wins Two International TOBY Awards, Including One in Miami

6100 Waterford in Miami is one of the Cushman & Wakefield managed properties honored at the Building Owners and Managers Association's 2018 International TOBY Awards The Outstanding Building of the Year (TOBY) Awards is the most prestigious and comprehensive program of its kind in the commercial real estate industry MIAMI, JULY 16, 2018 – 8200 Tower in Bloomington, Minn. and 6100-6303 Blue Lagoon Drive in Miami, both Cushman & Wakefield managed properties, received international TOBY® Awards from the Building Owners and Managers Association (BOMA). The Outstanding Building of the Year (TOBY) Awards recognize quality in commercial buildings and excellence in building management. Buildings are judged on all facets of operations, from community involvement to tenant relations, site management, and environmental and green policies and procedures. “Winning International TOBY Awards is a true testament to Cushman & Wakefield’s commitment to driving value at our managed properties,” said Marla Maloney, [...]

Jim McAleese 2018-07-18T11:49:39+00:00 July 16th, 2018|In the News, Press Release|

Cushman & Wakefield Negotiates Sale and Financing of Kendall Summit Office Park

Miguel Alcivar, Mike Davis, Dominic Montazemi, Scott O’Donnell, Greg Miller, Rick Brugge and Michael Lerner Negotiated the $34.75 Million Disposition on Behalf of TA Realty. Jason Hochman Secured a $26 Million Acquisition Loan for the Buyer, COFE Properties MIAMI, FL, June 29, 2018 — Cushman & Wakefield has negotiated the sale and financing of Kendall Summit Office Park, a six-building office campus in the dense Kendall micro-market of Miami-Dade County. The Cushman & Wakefield Capital Markets team of Miguel Alcivar, Mike Davis, Dominic Montazemi, Scott O’Donnell, Greg Miller, Rick Brugge and Michael Lerner negotiated the sale on behalf of Boston-based TA Realty. Miami-based COFE Properties acquired the 173,661-square-foot office park for $34.75 million ($200 per square foot). Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance Group assisted COFE Properties in securing a $26 million non-recourse acquisition loan with a low interest rate. The loan provided funds at closing and additional proceeds for future property renovations and leasing costs. Kendall Summit Office Park was developed between [...]

Jim McAleese 2018-06-29T14:26:11+00:00 June 29th, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield Secures $20M Acquisition Loan for Fountains of Miramar

The Equity, Debt & Structured Finance Team of Chris Lentz and Jason Hochman Secured the Loan on Behalf of Stockbridge Capital MIRAMAR, FL, June 26, 2018 — Cushman & Wakefield secured $20 million in financing for the acquisition of Fountains of Miramar, a ±140,000-square-foot shopping center in Broward County. The Equity, Debt & Structured Finance team of Chris Lentz and Jason Hochman, representing Stockbridge Capital, secured a long-term, non-recourse loan with a low, fixed interest rate from NY Life Insurance. Fountains of Miramar is a 139,329-square-foot, best-in-class community shopping center developed in 2005 on a 15.26-acre site at 2905–3161 SW 160th Avenue in Miramar. The property, anchored by Ross, Marshalls and HomeGoods, is 93% occupied. Fountains of Miramar is located at the northeast corner of Dykes Road and Miramar Parkway, just west of the Interstate 75-Miramar Parkway interchange. The center serves a roughly three-mile radius with an average household income of $96,524 and a population of 121,826 that is projected to grow [...]

Jim McAleese 2018-06-26T16:21:35+00:00 June 26th, 2018|In the News, Press Release, Retail|

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. [...]

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

At Airport North Logistics Park: Cushman & Wakefield Negotiates 69,000-SF Expansion, 106,000-SF Build-to-Suit Breaks Ground

MIAMI, May 29, 2018 – Neutralogistics has expanded its lease at Airport North Logistics Park (ALP) by 68,787 square feet, bringing the 900,000-square-foot, Class A, master-planned industrial project to 75 percent leased. The Miami-based logistics company already occupies 105,920 square feet at Building 1 and will be expanding into Building 2. Cushman & Wakefield Executive Director Wayne Ramoski, Director Gian Rodriguez and Senior Associate Skylar Stein, as exclusive leasing agents for the property, represented the landlord, Dallas-based L&B Realty Advisors, LLC in the lease negotiations. Juan Ruiz with Blanca Commercial Real Estate represented the tenant. “The property’s premier location with unique access to expressways and other major business hubs aligns with Neutralogistics’ strategic business objectives and expansion plans over the next few years,” said Alex Tellez, Founder and CEO of Neutralogistics. The expansion, finalized in late April, marks the third lease in as many months to be signed at ALP, [...]

Jim McAleese 2018-05-30T11:28:41+00:00 May 29th, 2018|Florida, In the News, Industrial, Press Release|