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 [...]

2019-07-19T11:12:52-04:00July 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 [...]

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

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 [...]

2018-06-26T16:21:35-04:00June 26th, 2018|In the News, Press Release, Retail|

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 [...]

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

Cushman & Wakefield Negotiates $6M Sale of Allapattah Commercial Property

The Cushman & Wakefield South Florida Commercial Team Negotiated the Disposition of the ±33,000-Square-Foot Centennial Express Building on Behalf of Centennial Express, Inc. MIAMI, FL, March 9, 2018 — Cushman & Wakefield has negotiated the sale of the Centennial Express Building, a 33,339-square-foot commercial property in Miami’s Allapattah neighborhood. The Cushman & Wakefield Capital Markets team of Miguel Alcivar and Dominic Montazemi, in conjunction with Cushman & Wakefield leasing partners Tony Jones and Frank Begrowicz, negotiated the disposition on behalf of Centennial Express, Inc. New York-based Edenderry Properties, LLC acquired the asset for $6 million ($180 per square foot). Scott Sime of Sime Realty Corporation represented the buyer. The Centennial Express Building was developed in 1945 on a ±1.7-acre parcel at 1251 NW 36th Street. The concrete block building occupies an entire city block. The property is centrally located along NW 36th Street, a main east-west arterial connecting the trendy neighborhoods surrounding Biscayne Boulevard to Miami International Airport and Doral. This location, just north [...]

2018-04-23T18:42:58-04:00March 12th, 2018|Capital Markets, In the News, Office, Press Release, Retail|

South Florida’s Lincoln Road and Worth Avenue Among World’s Most Exclusive Retail Streets

Rents in these Miami and Palm Beach Retail Districts Rank Among the Most Expensive of the 451 Global Retail Markets Surveyed in Cushman & Wakefield’s Main Streets Across the World Report MIAMI, FL — Cushman & Wakefield has released the 29th edition of its global flagship report, Main Streets Across the World. The report, authored by Cushman & Wakefield Research, ranks Miami’s Lincoln Road and Palm Beach’s Worth Avenue among the top 10 most expensive retail districts in the Western Hemisphere. Main Streets Across the World tracks 451 of the top retail streets around the globe, ranking the most expensive in 68 countries by their prime rental value and enabling an analysis of trends in retail real estate performance. Lincoln Road ($300/SF/Year) and Worth Avenue ($145/SF/Year) were ranked fifth and eighth, respectively, in terms of 2017 rent values. Worth Avenue jumped a spot from its 2016 ranking of ninth while Lincoln Road held steady as the [...]

2018-04-23T18:43:03-04:00November 16th, 2017|In the News, Press Release, Retail|

Cushman & Wakefield Report: Miami Retail Resides at the Crossroads of Global Commerce

The 2017 Miami Retail Major Markets Report Points to the Region’s Resilience, Diversity and Adaptability as Key Factors in its Rise to Prominence Click To Download Report MIAMI, Florida — Cushman & Wakefield today published its 2017 Miami Retail Major Markets Report a comprehensive analysis of the one of the world’s most dynamic and diverse retail markets. The report, authored by Cushman & Wakefield’s Miami retail brokerage team of Senior Director Greg Masin, Director Frank Begrowicz and Senior Associate Andrea Vigil along with Florida Research Manager Chris Owen, examines the forces acting upon the Miami-Dade County retail market and the emerging trends in the region. Cushman & Wakefield’s research reveals a resilient market capable of recovering quickly in the wake of the strongest Atlantic hurricane on record; a global destination shaped by an influx of international wealth; and a diverse culture driving the constant reinvention of existing retail concepts. Highlights of the report include: High Street retail in [...]

2018-04-23T18:43:04-04:00October 23rd, 2017|In the News, Press Release, Retail|

Dominic Delgado Joins Cushman & Wakefield in Boca Raton

Delgado Brings 16 Years of Diverse Industry Experience to the Growing Cushman & Wakefield South Florida Team BOCA RATON, FL — Cushman & Wakefield announced today that Dominic Delgado has joined the firm as Senior Director and will further expand Cushman & Wakefield’s retail presence in Palm Beach and Broward Counties. Prior to joining Cushman & Wakefield, Delgado was the Executive Vice President at LDR Partners, a full-service Florida-based real estate firm, where he represented a mix of regional and national developers, REITS and private equity funds. Before joining LDR Partners, Delgado directed new business development and ran regional disposition programs for several national companies’ excess space and assets at SRS Real Estate Partners. Additionally, he worked at KW Property Management as a Community Association Management Coordinator and JCD Investments as the Director of Acquisitions. Delgado also founded, managed and invested in numerous successful start-up companies, including Shady Island Sunglasses and Isola [...]

2018-04-23T18:43:12-04:00July 11th, 2017|In the News, Press Release, Retail|

Cushman & Wakefield Negotiates $30M Sale of Pompano Plaza

Mark Gilbert, Adam Feinstein and Mitchell Halpern Represented Pompano Plaza, Ltd. in the Disposition of the ±127,000-Square-Foot Publix-Anchored Community Shopping Center POMPANO BEACH, FLORIDA — Cushman & Wakefield announced today that it has negotiated the sale of Pompano Plaza, a 126,928-square-foot grocery-anchored shopping center in northeast Broward County. The Miami-based investment sales team of Mark Gilbert, Adam Feinstein and Mitchell Halpern negotiated the disposition on behalf of Pompano Plaza, Ltd. Pittsburgh-based investor ECHO Realty acquired the asset for $29.6 million ($233 per square foot). Pompano Plaza was developed in 1973 and significantly renovated in 2006 when a portion of the original structure was demolished and replaced with a new Publix store. A bank outparcel building was added in 2010. The plaza, which is anchored by Publix, Marshalls, Office Depot and Tuesday Morning, is 100 percent occupied. “The seller has owned this asset for many years and positioned it for long-term success by replacing Service Merchandise with Publix in a brand new structure back in 2006,” said Halpern. [...]

2018-04-23T18:43:15-04:00April 21st, 2017|Capital Markets, In the News, Press Release, Retail|

Cushman & Wakefield Negotiates $163M Sale of Westfork Plaza and Paraiso Parc Retail Centers

The Investment Sales Team of Mark Gilbert, Adam Feinstein and Mitchell Halpern Represented an Ownership Venture of DRA Advisors, LLC and Woolbright Development, Inc. in the Disposition PEMBROKE PINES, FLORIDA — Cushman & Wakefield announced today that it has negotiated the $163 million sale of Westfork Plaza and Paraiso Parc, two adjacent retail centers in Pembroke Pines totaling 388,557 square feet. The Miami-based Cushman & Wakefield investment sales team of Executive Managing Director Mark Gilbert, Executive Director Adam Feinstein and Financial Associate Mitchell Halpern negotiated the disposition on behalf of an ownership venture of New York-based DRA Advisors, LLC and Boca Raton, FL-based Woolbright Development, Inc. InvenTrust Properties Corp., an Oakbrook, IL-based real estate investment trust, acquired the asset for $163 million. Westfork Plaza is an 292,707-square-foot multi-anchor community shopping center developed in 1998. Costco owns and operates a store on the site that was not included in the sale. Paraiso Parc is a 95,850-square-foot, Publix-anchored neighborhood shopping center developed in 2007. The [...]

2018-04-23T18:43:18-04:00February 10th, 2017|Capital Markets, In the News, Press Release, Retail|