Press Release – Cushman & Wakefield South Florida

Cushman & Wakefield Brokers $55M Financing of Luxury, 292-Unit Apartment Community in Fort Lauderdale

Riverview Peninsula Investments Acquired ORA Flagler Village with a Fixed-Rate Loan from Nuveen FORT LAUDERDALE, FL, September 23, 2019 – Cushman & Wakefield has negotiated the financing in the acquisition of ORA Flagler Village, a newly completed, 292-unit luxury mid-rise apartment community in Fort Lauderdale. The Cushman & Wakefield Equity Debt & Structured Finance Team of Senior Director Chris Lentz and Executive Managing Director Robert Kaplan secured a $55 million, 12-year fixed-rate loan with Nuveen on behalf of the buyer, Riverview Peninsula Investments. Fairfield Residential sold the asset for an undisclosed price. ORA Flagler Village is situated at 673 NE Third St. in Fort Lauderdale’s burgeoning Flagler Village submarket. The six-story property was completed in 2018 and was 95% occupied at the time of sale. It offers 26 distinct floorplans that average 856 square feet and range from functional studios to spacious two-bedroom residences. Amenities include an expansive pool with [...]

Jim McAleese2019-09-27T16:18:03-04:00September 23rd, 2019|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Brings Coral Gables Boutique, Luxury Multifamily Asset to Market on Behalf of Greystar

The 120-Unit Apartment Community is Prominently Situated Near the Famed “Miracle Mile” in Downtown Coral Gables MIAMI, September 23, 2019 — Cushman & Wakefield, as exclusive advisor, has been selected to market for sale “The Mile,” a boutique, Class-AA apartment community comprising 120 luxury residences. The property is positioned along the main thoroughfare in downtown Coral Gables, Coral Way, also known as Miracle Mile. Greystar, a leading international owner and manager of multifamily assets, retained Vice Chairman Robert Given, Executive Managing Director Troy Ballard, Executive Managing Director Zachary Sackley, Executive Managing Director Calum Weaver and Senior Financial Analyst James Quinn of Cushman & Wakefield’s Florida Multifamily Team to market the asset to investors. Developed in 2016, The Mile consists of one-, two- and three-bedroom units, averaging 893 square feet. Residences offer condo-quality features and finishes, inlcuding oversized balconies, stainless steel appliances, quartz countertops and floor-to-ceiling windows. All units feature porcelain [...]

Jim McAleese2019-10-01T12:40:17-04:00September 23rd, 2019|In the News, Multifamily, Press Release|

Cushman & Wakefield Represents Terreno in $14M Sale of Doral Warehouse

The South Florida Industrial Team of Wayne Ramoski, Gian Rodriguez and Skylar Stein Negotiated the Sale of the ±106,769-Square-Foot Building MIAMI, FL, September 13, 2019 — The Cushman & Wakefield South Florida Industrial Team of Wayne Ramoski, Gian Rodriguez and Skylar Stein represented San Francisco-based Terreno Realty Corporation in the sale of a ±106,769-square-foot warehouse at 10100 NW 25th Street in Doral. AmCar Holding, Inc. acquired the asset for $14 million ($131 per square foot). Mark Aleman of Aleman Realty, LLC represented the buyer. Constructed in 1974, the stand-alone, cross-dock property sits on a five-acre parcel in the heart of Doral with excellent visibility and frontage on NW 25th Street. The building features 22-foot clear heights, ±14,000 square feet of office space, 29 loading positions and secure exterior storage. Ramoski and Rodriguez previously negotiated Terreno’s $9.875 million acquisition of the asset in 2015 when the property served as CGI Windows and Doors’ manufacturing and distribution facility. Terreno began the redevelopment of the site for re-lease after CGI [...]

Jim McAleese2019-09-30T17:13:18-04:00September 13th, 2019|In the News, Industrial, Press Release|

Cushman & Wakefield Represents Investment Fund in $11.75M Sale of Fort Lauderdale’s 2601 Building

MHC Oakland Park Owner LLC Acquired the Six-Story Office Building from 2601 M L Fund, LLC FORT LAUDERDALE, FL, September 9, 2019 — Cushman & Wakefield has negotiated the sale of the 2601 Building, a premier ±59,942-square-foot office asset in Broward County. The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Greg Miller, Miguel Alcivar, Jason Hochman and Michael Ciadella negotiated the sale on behalf of 2601 M L Fund, LLC, a Netz USA LLC holding company. MHC Oakland Park Owner LLC acquired the building for $11.75 million ($196 per square foot). Frank M. Micali, CCIM of Netz USA LLC represented the fund in the sale. The 2601 Building is a six-story, multi-tenant office building originally developed in 1966. The property sits on a ±1.24-acre site at 2601 East Oakland Park Blvd. After suffering significant damage during Hurricane Wilma in 2005, the building was gutted and rebuilt in 2007 with new roofs, mechanical systems and modern interior build-outs. The 2601 Building is centrally located in [...]

Jim McAleese2019-10-01T12:49:42-04:00September 9th, 2019|Florida, In the News, Office, Press Release|

Cushman & Wakefield Negotiates ±94,261 SF Lease with Marble of the World at Pompano Business Center II

Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Represented Building Owner IDI Logistics in Securing the Showroom, Warehouse and Distribution Lease POMPANO BEACH, FL, August 16, 2019 — Cushman & Wakefield negotiated a ±94,261 square foot industrial showroom lease with Marble of the World at Pompano Business Center II in Broward County. The Cushman & Wakefield industrial team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented building owner IDI Logistics in the lease negotiations. Colliers International’s Steve Wasserman and Erin Byers represented Marble of the World. Marble of the World is a division of The Stone Collection, LLC, a leading importer and distributor of high-quality natural stone and luxury hard surfaces. The Texas-based company imports and distributes natural stone from over 35 countries worldwide and features nine locations in five states. The new showroom and product warehouse in Broward County will join innovatively designed and American Society of Interior Designers (ASID) award-winning showrooms in Arizona, Texas, [...]

Jim McAleese2019-10-01T12:54:44-04:00August 16th, 2019|In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates Sale of 82KSF Suburban Office Park Operated as Executive Suites in Broward County, FL

Prive Land Banking Acquired Flamingo Commons for $17M BROWARD COUNTY, FL, August 7, 2019 – Cushman & Wakefield has arranged the sale of Flamingo Commons, an eight-building, 81,959-square-foot, suburban office park, for $17M. The property is situated in the town of Davie, located in the high-performing office submarket of Southwest Broward County. The Cushman & Wakefield Capital Markets team of Greg Miller, Miguel Alcivar, Scott O’Donnell, Dominic Montazemi, and Mike Ciadella negotiated the sale on behalf of the seller, Flamingo Commons, LLC. The buyer is Prive Land Banking, a Miami-based investment firm. Flamingo Commons was 95% occupied at the time of sale. Notable tenants include Flamingo Commons Dental, Mazzola's West Italian Restaurant, Shades of Red Salon and The Gordon Group Luxury Cruise Planners. The property was completed between 2002 and 2006 and comprises two two-story buildings and six one-story buildings. There are two additional one-story buildings on the property that were not included [...]

Jim McAleese2019-10-15T18:40:39-04:00August 7th, 2019|In the News, Office, Press Release|

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|