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 [...]

2018-06-26T16:21:35-04:00 June 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 [...]

2018-05-24T13:04:45-04:00 May 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 [...]

2018-04-23T18:42:58-04:00 March 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 [...]

2018-04-23T18:43:03-04:00 November 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 [...]

2018-04-23T18:43:04-04:00 October 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 [...]

2018-04-23T18:43:12-04:00 July 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. [...]

2018-04-23T18:43:15-04:00 April 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 [...]

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

Cushman & Wakefield Negotiates Traci Lynn Jewelry’s 20,594-Square-Foot Corporate Headquarters Acquisition

The Tenant Advisory Team of Jeff Holding and A.J. Belt Represented the Jeweler in its $3.44 Million Acquisition of the Girl Scouts of Southeast Florida’s Former Home​ FORT LAUDERDALE, FLORIDA — Cushman & Wakefield announced today that it has negotiated the sale of a two-story, 20,594-square-foot free standing office building at 4701 NW 33rd Avenue. The tenant advisory team of Executive Director Jeff Holding and Senior Director A.J. Belt represented Traci Lynn, Inc. in its acquisition of the asset from the Girl Scouts of Southeast Florida. The transaction was valued at $3.44 million ($167 per square foot). Traci Lynn, Inc. is the parent company of Traci Lynn Jewelry, a high-quality, affordable fashion jeweler founded in 1990 by Dr. Traci Lynn in Philadelphia. The company delivers its products via a wholesale network and direct sales and has been featured in Essence Magazine, Good Morning Americaand CNN for its innovation and entrepreneurial success. Traci Lynn Jewelers is relocating and expanding its corporate headquarters after [...]

2018-04-23T18:43:27-04:00 January 12th, 2017|Capital Markets, In the News, Press Release, Retail|

Steven Bronstein Joins Cushman & Wakefield Retail and Multi-Use Practice in Miami

The 30-Year Veteran and Pioneer of Cushman & Wakefield’s New York Retail Division Returns to South Florida MIAMI, FLORIDA — Cushman & Wakefield announced today that Steven Bronstein has returned to the company as a Senior Director of Retail & Multi-Use Brokerage in the firm’s Miami office. Bronstein’s first stint with the firm came in the 1980s, when he was a top producer nationally leading the accounts of prominent New York retailers such as Brentano’s, Victoria Station, BMW of North America and Saks Fifth Avenue. His success helped establish the firm’s New York Retail Division in which he ultimately became an officer and director. Bronstein’s extensive experience also includes representing world-famous restaurants and retailers such as Eileen Fisher and Jean Louis David in their flagship locations as well as Ben Benson's Steak House, Laura Ashley and The Gap. Additionally, he procured Harry Belafonte’s Manhattan music studios, secured more than 500,000 square feet of closed-circuit viewing space for [...]

2018-04-23T18:43:29-04:00 December 8th, 2016|Florida, In the News, Multi-Use, Press Release, Retail|