Press Release – Cushman & Wakefield South Florida

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|

Cushman & Wakefield Negotiates Sale of Core Palm Beach Mixed-Use Asset

Dominic Montazemi, Scott O’Donnell, Greg Miller, Mark L. Pateman and Robert Klecinsky Negotiated the Disposition of 249 Royal Poinciana Way on Behalf of MD Ventures of Palm Beach PALM BEACH, FL, May 22, 2018 — Cushman & Wakefield has negotiated the sale of 249 Royal Poinciana Way, an iconic, mixed-use property located in the heart of world-famous Palm Beach. The Cushman & Wakefield Capital Markets team of Dominic Montazemi, Scott O’Donnell, Greg Miller, Mark L. Pateman and Robert Klecinsky represented MD Ventures of Palm Beach in the sale of the asset. West Palm Beach-based Armata Holdings acquired the 5,576-square-foot building for $3,968,000 ($712 per square foot). 249 Royal Poinciana Way was developed in 1922 on a ±0.14-acre site. The two-story building comprises 2,912 square feet of ground-floor retail and six recently renovated, second-story residential micro-units totaling 2,664 square feet. The building was 95% occupied at the time of sale. Notable retail tenants include Grace Boutique, Lil Rapunzel’s and Peterbrooke Chocolatier. The building’s location offers direct frontage on Royal Poinciana [...]

Jim McAleese 2018-05-24T13:04:45+00:00 May 24th, 2018|In the News, Press Release, Retail|

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 [...]

Jim McAleese 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 [...]

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

Cushman & Wakefield Negotiates Two Leases at Broward International Commerce Center

The South Florida Industrial Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Secured Warehouse and Distribution Leases with Custom Service Distribution and Great HealthWorks DANIA BEACH, FL, May 9, 2018— Cushman & Wakefield has secured two new warehouse and distribution leases with Custom Service Distribution and Great HealthWorks totaling more than 20,000 square feet at Broward International Commerce Center. The South Florida Industrial team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister negotiated the leases on behalf of Troy, MI-based building owner Broward International Commerce Park, Limited Partnership. Broward International Commerce Center is a four-building warehouse and distribution campus totaling 251,799 square feet. The buildings were developed between 1996 and 2011 on a 22.3-acre site at 241–349 North Bryan Road in Dania Beach. The buildings offer visibility from Interstate 95 and immediate access to the interstate via both Griffin Road and Stirling Road. Broward International Commerce Center is also proximate to Design Center [...]

Jim McAleese 2018-05-14T17:00:48+00:00 May 10th, 2018|In the News, Industrial, 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, [...]

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

Cushman & Wakefield to Market Dania Beach Mixed-Use Project

The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn was Selected by ahs Residential to Market The Place at Dania Beach, a 144-Unit Multifamily Community with Ground-Floor Retail DANIA BEACH, FL — Cushman & Wakefield has been named exclusive advisor for the disposition of The Place at Dania Beach, a recently completed 144-unit luxury mid-rise multifamily community with 6,771 square feet of ground-floor retail in downtown Dania Beach. The South Florida Multifamily team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn was selected to market the asset by Miami-based developer ahs Residential. The offering is unpriced. The Place at Dania Beach was completed in 2017 and comprises a single seven-story residential building with ground-floor retail, a rooftop pool and amenity deck and attached structured parking. Units at The Place at Dania Beach average 890 square feet with an average market rent of $1,784 per unit. The property is already 100% leased. The [...]

Jim McAleese 2018-05-09T12:03:28+00:00 May 9th, 2018|Capital Markets, In the News, Multifamily, 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 [...]

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

Cushman & Wakefield Negotiates Two Leases Totaling ±54,000 SF at Pompano Center of Commerce II

The Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Secured Warehouse and Distribution Leases with Technical Entertainment Services and Portobello America, Inc. POMPANO BEACH, FL — Cushman & Wakefield has negotiated two industrial relocation leases totaling 53,832 square feet at Pompano Center of Commerce II 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 an 18,792-square-foot lease with Technical Entertainment Services (TES) and a 35,040-square-foot lease with Portobello America, Inc. Portobello America, Inc. Portobello America, Inc. leased 35,040 square feet in Building 7 of Pompano Center of Commerce II, located at 1660 NW 18th Street. Tom Viscount of Butters Construction & Development represented Portobello America, Inc. Portobello America, Inc. is a subsidiary of Portobello S.A, Brazil’s largest tile maker and distributor with more than 2,600 employees and annual [...]

Jim McAleese 2018-04-23T18:42:57+00:00 April 3rd, 2018|In the News, Industrial, Press Release|