A new report from Newmark Grubb Knight Frank shows positive net absorption for 18 consecutive quarters in Miami, an occupancy rate of nearly 85 percent and a market where demand continues to outpace supply.
“The rents have finally escalated enough that they can justify new construction,” said Patrick Duffy, a vice chairman in Newmark Grubb Knight Frank’s Miami office. “Usually in the past, new construction compressed pricing a little bit because we had new supply. But I don’t think we’ll see that this cycle.”
In Broward County, the resurgence rested on a spike in investment transactions. Buyers picked up 1 million square feet in the sale of six major office complexes, including the $119.5 million trade of the Royal Palm at Southpointe complex in Plantation and the $32.55 million sale of the Cypress Financial Center to Steelbridge Capital in September.
“Investment activity was in full swing,” Newmark Grubb reported.
Palm Beach County‘s office sector is at its strongest in two years with falling vacancy rates and rising demand. Tenants leased more than 405,000 square feet in 131 transactions at average asking rents of $28.12 per square foot. That pushed the vacancy rate to 19.2 percent, down from 20.3 percent a year earlier.
To download Newmark Grubb Knight Frank‘s complete reports, click on the following links:
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-10-28 23:00:302014-10-28 23:00:30It’s A Great Time To Be An Office Landlord
JLL has been tapped as the leasing and management agency of Courthouse Commons, a premium, Class A 93,000 square-foot office building with direct access to the West Palm Beach County Courthouse and walking distance to Clematis Street and CityPlace.
Located at 444 West Railroad Avenue, Courthouse Commons is the last building in downtown West Palm to offer 20,000 contiguous square feet on one floor and boasts the highest parking ratio in the Central Business District (CBD) at a ratio of 5.4 per 1,000 SF.
JLL’s Vice Presidents Kevin McCarthy and Kevin Probel will spearhead the leasing efforts and management at the building. With this assignment, JLL continues to expand its agency leasing portfolio to nearly 1 million square feet of office space in Palm Beach County.
“The building’s convenient access to the courthouse and all of the amenities downtown, including restaurants, shops and vibrant work, play environment, makes it the perfect location for attorneys, accountants, and other professional agencies,” said McCarthy.
The building, which has a covered pedestrian skywalk to the West Palm Beach County Courthouse and City Hall, was originally built for law firms but has attracted an eclectic mix of tenants, including a US government agency. The building’s new owner, Florida Community Bank (FCB), selected JLL to help maximize the property’s value and secure additional tenants.
“Over the last two years, we’ve really increased our presence in Palm Beach County and established JLL as one of the area’s leading commercial real estate firms,” said Probel “Courthouse Commons is one of the leading properties downtown. JLL is looking forward to working with FCB to secure additional tenants looking for a high profile location, unmatched amenities and competitive leasing terms.”
“We are excited to have JLL lead our leasing and management of the building,” said Florida Community Bank’s Director of REO, Larry Benton. “They have a proven track record in South Florida and national reputation that will attract the right mix of tenants to increase the property’s value. With the highest parking ratio downtown, and the largest contiguous space remaining on one floor, Courthouse Commons is strategically placed for tenants seeking a downtown address with ample parking.”
The building is located less than two miles east of I-95 from the Okeechobee Boulevard exit.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-10-21 18:58:042014-10-21 18:58:04JLL Wins Leasing And Management For Courthouse Commons
NAI Rauch Weaver Norfleet Kurtz & Co. is pleased to announce the addition of Brett Rowley who specializes in the sale and leasing of commercial office and industrial properties in both Broward and Palm Beach counties, and serves as a Senior Commercial Associate.
His considerable talent in identifying and satisfying client needs culminated in over 1 million square feet of closed volume just in the past few years.
Prior to joining the firm, Brett was the exclusive owner’s representative and leasing executive for the “SunTrust Center” a 220,000 SF Class “A” office building located in the Fort Lauderdale CBD. Emerson Power relied on Mr. Rowley for counsel and assistance when relocating their Latin America headquarters office to Sawgrass Park in Sunrise, Florida.
He also represented the Alber Corporation, an Emerson business, in the renegotiation of their industrial lease for their facility in Pompano Beach, Florida.
Past clients quickly turn to Mr. Rowley to resolve large space requirements whenever they occur. Brett’s selected clients include ING Clarion, CW Capital, TA Associates Realty, GL Homes, SunTrust Bank, and Emerson Network Power a business of Emerson Electric.
Mr. Rowley’s considerable knowledge of local markets and his best practice approach to resolving complex real estate matters make him a trusted ally of both large corporate and individual real estate owners and users. Brett is a tenacious advocate for his client’s best interests and it shows in the results he achieves.
Brett is a native of Fort Lauderdale, and an avid tennis player. He was the recipient of tennis athletic scholarships at both Tyler Junior College and East Carolina University where he lettered twice. He is an active member in the South Florida Office Brokers Association, and NAI Global Office Council.
Located at 901 Yamato Road and 5201 Congress Avenue in Boca Raton, North 40 is comprised of two class B buildings with a total of 350,616 square feet that have direct access to Interstate 95. The property will undergo a $2 million destination rebranding, positioning its buildings as unique, campus-like offerings in the market. Emphasizing its expansive floor plate design and open atrium amenities, renovations will include the implementation of collaborative spaces, natural light, soft seating, and Wi-Fi.
“Our team was selected to represent ownership in the marketing and leasing initiatives due to our in-depth knowledge and proactive approach within the market as well as our deal creativity, which has resulted in some of the largest transactions completed in South Florida,” said Keith O’Donnell, Principal with Avison Young’s Boca Raton office.
O’Donnell, along with his team Gary Gottlieb, Principal, and Jonathan Senn, Associate, will initiate a North Boca-centric leasing and marketing strategy.
According to second quarter 2014 office market reports, the financial services, healthcare and technology sectors are leading office demand and lease transactions in Palm Beach County, contributing to steadily decreasing vacancy rates.
“Taking advantage of the new mixed-use environment that is fueling the resurgence of the Arvida Park of Commerce (APOC) area, the area’s office market is thriving with a number of companies expanding and total vacancy seeing a decrease,” according to Gottlieb. “North 40 is one of the only office campuses which offers quality blocks of office space currently available for lease for large-scale tenants seeking efficient and collaborative spaces.”
Bringing valuable expertise in these industries to the North 40 leasing project, O’Donnell is an established “placemaker” in Boca Raton and co-founder of MedUTech, a community-led initiative to showcase success, innovation and growth in healthcare, education and technology in the area. In addition, he co-authored the groundbreaking Planned Mobility overlay district for the northwest sector along with Jamie Danburg of Danburg Management.
“The activity level we are seeing at North 40 is validated by over 220,000 square feet of absorption in the first half of this year,” continued O’Donnell.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-10-15 01:03:002014-10-15 01:03:00Avison Young Wins Leasing Assignment For The North 40
Last September, more than 130 brokers gathered in the atrium of the former Fashion Mall to learn about the complete transformation of the former Plantation Fashion Mall project over the next several years. David Emihovich of Katz Associates and Larry Klein of Forest City Enterprise, which US Capital Holdings Group had retained for retail leasing, described the project’s vision and showed renderings of 321 North.
We waited… and nothing.
Then, with the hiring of Jennifer Moran as Director of Leasing of 321 North this past April, it appeared as though US Capital Holdings LLC was finally, after several delays over the past several years, was back on track, moving forward with the development of the project.
But, with more drama that recently surfaced, it looks like we’re back on hold.
With nearly $158 million raised for the redevelopment of the Fashion Mall missing, Broward County Circuit Court Judge Jack Tutor said that a key document governing control of the Plantation project was forged.
Wei Chen, the manager and 1 percent owner of developer Mapuche LLC, and Zhen Zeng Du, the head of Tangshan Ganglu Iron & Steel Co., which owns the other 99 percent, both testified at trial before the judge. Du accused Chen of misappropriating the millions of dollars he invested in the 321 North redevelopment project, and forging a document in Chinese that would prevent Du from removing Chen as the head of the company. Du wants Chen out of management so he can restart the project with his own team.
Although the Chinese handwriting experts’ analysis of Du’s signature was inconclusive, the judge said he believed Du’s account over Chen’s. Tutor ruled that Du didn’t sign the document and it was forged. Although he didn’t explicitly say that Chen forged it, it was Chen’s side that submitted the flawed document to the court.
“Mr. Chen, I don’t know whether you did any of the things that have been suggested during these hearings that I’ve held in this case, but you also may have some liability down the road,” Judge Tutor said. “So you need to come to the table and see if you can help resolve this case if that’s possible.”
Lida Rodriguez-Taseff and Scott Marder, of Duane Morris LLP, represented Du in the lawsuit. Rodriguez-Taseff pointed to Chen’s testimony, where he admitted that the developer’s bank accounts was nearly empty despite receiving $158 million from Du, a resident of China. Little work has been done on the property, which has been closed for years. Chen testified that he earned over $400,000 in salary a year, employing two translators since he doesn’t speak English and bought a $2 million condo.
Fort Lauderdale attorney Benjamin E. Olive represents Chen in the lawsuit.
Judge Tutor urged Du and Chen to resolve their differences out of court so the project could move forward without years of delay. Du’s attorneys are preparing a motion to capitalize on the recent ruling.
“Now that this is behind us, our client looks forward to working with the City of Plantation to finally redevelop this property so that it is fully contributing to the tax rolls of the city,” Marder and Rodriguez-Taseff said in a statement. “Our client intends to sit down with the city to better understand the city’s vision for the property and the needs of the community.”
Du has yet to select a team to manage the Fashion Mall redevelopment, Rodriguez-Taseff said.
With all this drama, maybe they should just turn the darn thing into a giant theatre. Just a thought.
Pointe Group Advisors announced today that Adriana “AJ” Rosillo has joined the firm as Senior Vice President of Leasing.
In her new role, Rosillo will be responsible for continuing to pursue business in the leasing and sales of office space throughout South Florida.
Prior to joining Pointe Group, Rosillo worked as the Leasing Director of Flagler Real Estate Services, where she represented more than two million square feet of commercial real estate throughout Miami-Dade and Broward counties. She also previously served as a sales associate for WestVest Associates, Inc., where she was responsible for handling acquisitions and dispositions of commercial and industrial real estate.
“Rosillo’s experience and determination to continue succeeding in the real estate industry will advance the firm’s existing and prominent leasing department,” said Peter Gardner, Founder and CEO of PointeGroup. “We are thrilled to have her as part of our team.”
Hornick is a commercial real estate veteran with more than 20 years of experience. In his new role, he will be responsible for leasing in The Forum office building in West Palm Beach adjacent to the new Palm Beach Outlets, and will actively work to grow Pointe Group’s market presence.
William Holly, who served as President of Pointe Group Advisors since October, 2012, parted ways with the company late last month and is now serving as broker at Coral Gables-based Patton Real Estate, a company founded by Holly.
Pointe Group Advisors has offices in Miami, Fort Lauderdale, Palm Beach, Sarasota and Tampa, with more than ten million square feet of commercial space under management and leasing.
Rosillo graduated from Georgia Tech University with a bachelor’s degree in computer engineering. In 2010, she was recognized as a CoStar Power Broker. Active in the community, she is the former president of the Commercial Industrial Association of South Florida (CIASF) and BNI Business Leaders. She currently serves on the board of directors for Certified Commercial Investment Member (CCIM), Easter Seals Young Leaders and is a member of the National Association of Industrial and Office Properties (NAIOP).
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-10-07 18:38:102014-10-07 18:38:10Pointe Group Continues To Grow Team
It’s A Great Time To Be An Office Landlord
/in News, Trends/by SFOBA STAFFA new report from Newmark Grubb Knight Frank shows positive net absorption for 18 consecutive quarters in Miami, an occupancy rate of nearly 85 percent and a market where demand continues to outpace supply.
In Broward County, the resurgence rested on a spike in investment transactions. Buyers picked up 1 million square feet in the sale of six major office complexes, including the $119.5 million trade of the Royal Palm at Southpointe complex in Plantation and the $32.55 million sale of the Cypress Financial Center to Steelbridge Capital in September.
Palm Beach County‘s office sector is at its strongest in two years with falling vacancy rates and rising demand. Tenants leased more than 405,000 square feet in 131 transactions at average asking rents of $28.12 per square foot. That pushed the vacancy rate to 19.2 percent, down from 20.3 percent a year earlier.
To download Newmark Grubb Knight Frank‘s complete reports, click on the following links:
Newmark Grubb Knight Frank-3Q14 Fort Lauderdale Office Market Report
Newmark Grubb Knight Frank-3Q14 Palm Beach Office Market Report
Newmark Grubb Knight Frank-3Q14 Miami Office Market Report
Source: DBR
JLL Wins Leasing And Management For Courthouse Commons
/in Done Deals, News/by SFOBA STAFFJLL has been tapped as the leasing and management agency of Courthouse Commons, a premium, Class A 93,000 square-foot office building with direct access to the West Palm Beach County Courthouse and walking distance to Clematis Street and CityPlace.
Located at 444 West Railroad Avenue, Courthouse Commons is the last building in downtown West Palm to offer 20,000 contiguous square feet on one floor and boasts the highest parking ratio in the Central Business District (CBD) at a ratio of 5.4 per 1,000 SF.
JLL’s Vice Presidents Kevin McCarthy and Kevin Probel will spearhead the leasing efforts and management at the building. With this assignment, JLL continues to expand its agency leasing portfolio to nearly 1 million square feet of office space in Palm Beach County.
The building, which has a covered pedestrian skywalk to the West Palm Beach County Courthouse and City Hall, was originally built for law firms but has attracted an eclectic mix of tenants, including a US government agency. The building’s new owner, Florida Community Bank (FCB), selected JLL to help maximize the property’s value and secure additional tenants.
The building is located less than two miles east of I-95 from the Okeechobee Boulevard exit.
Brett Rowley Joins RWNK
/in News/by SFOBA STAFFNAI Rauch Weaver Norfleet Kurtz & Co. is pleased to announce the addition of Brett Rowley who specializes in the sale and leasing of commercial office and industrial properties in both Broward and Palm Beach counties, and serves as a Senior Commercial Associate.
His considerable talent in identifying and satisfying client needs culminated in over 1 million square feet of closed volume just in the past few years.
Prior to joining the firm, Brett was the exclusive owner’s representative and leasing executive for the “SunTrust Center” a 220,000 SF Class “A” office building located in the Fort Lauderdale CBD. Emerson Power relied on Mr. Rowley for counsel and assistance when relocating their Latin America headquarters office to Sawgrass Park in Sunrise, Florida.
He also represented the Alber Corporation, an Emerson business, in the renegotiation of their industrial lease for their facility in Pompano Beach, Florida.
Past clients quickly turn to Mr. Rowley to resolve large space requirements whenever they occur. Brett’s selected clients include ING Clarion, CW Capital, TA Associates Realty, GL Homes, SunTrust Bank, and Emerson Network Power a business of Emerson Electric.
Mr. Rowley’s considerable knowledge of local markets and his best practice approach to resolving complex real estate matters make him a trusted ally of both large corporate and individual real estate owners and users. Brett is a tenacious advocate for his client’s best interests and it shows in the results he achieves.
Brett is a native of Fort Lauderdale, and an avid tennis player. He was the recipient of tennis athletic scholarships at both Tyler Junior College and East Carolina University where he lettered twice. He is an active member in the South Florida Office Brokers Association, and NAI Global Office Council.
Avison Young Wins Leasing Assignment For The North 40
/in News/by SFOBA STAFFAvison Young was awarded the exclusive leasing assignment of “North 40,” a 350,616-square-foot two-building complex recently acquired by Mainstreet Capital Partners Inc. and Carval Investors in the largest investment sale transaction to date in Palm Beach County in 2014.
Located at 901 Yamato Road and 5201 Congress Avenue in Boca Raton, North 40 is comprised of two class B buildings with a total of 350,616 square feet that have direct access to Interstate 95. The property will undergo a $2 million destination rebranding, positioning its buildings as unique, campus-like offerings in the market. Emphasizing its expansive floor plate design and open atrium amenities, renovations will include the implementation of collaborative spaces, natural light, soft seating, and Wi-Fi.
O’Donnell, along with his team Gary Gottlieb, Principal, and Jonathan Senn, Associate, will initiate a North Boca-centric leasing and marketing strategy.
According to second quarter 2014 office market reports, the financial services, healthcare and technology sectors are leading office demand and lease transactions in Palm Beach County, contributing to steadily decreasing vacancy rates.
Bringing valuable expertise in these industries to the North 40 leasing project, O’Donnell is an established “placemaker” in Boca Raton and co-founder of MedUTech, a community-led initiative to showcase success, innovation and growth in healthcare, education and technology in the area. In addition, he co-authored the groundbreaking Planned Mobility overlay district for the northwest sector along with Jamie Danburg of Danburg Management.
Will Ongoing Drama Ground 321 North’s Lofty Plans?
/in News/by SFOBA STAFFLast September, more than 130 brokers gathered in the atrium of the former Fashion Mall to learn about the complete transformation of the former Plantation Fashion Mall project over the next several years. David Emihovich of Katz Associates and Larry Klein of Forest City Enterprise, which US Capital Holdings Group had retained for retail leasing, described the project’s vision and showed renderings of 321 North.
We waited… and nothing.
Then, with the hiring of Jennifer Moran as Director of Leasing of 321 North this past April, it appeared as though US Capital Holdings LLC was finally, after several delays over the past several years, was back on track, moving forward with the development of the project.
But, with more drama that recently surfaced, it looks like we’re back on hold.
With nearly $158 million raised for the redevelopment of the Fashion Mall missing, Broward County Circuit Court Judge Jack Tutor said that a key document governing control of the Plantation project was forged.
Wei Chen, the manager and 1 percent owner of developer Mapuche LLC, and Zhen Zeng Du, the head of Tangshan Ganglu Iron & Steel Co., which owns the other 99 percent, both testified at trial before the judge. Du accused Chen of misappropriating the millions of dollars he invested in the 321 North redevelopment project, and forging a document in Chinese that would prevent Du from removing Chen as the head of the company. Du wants Chen out of management so he can restart the project with his own team.
Although the Chinese handwriting experts’ analysis of Du’s signature was inconclusive, the judge said he believed Du’s account over Chen’s. Tutor ruled that Du didn’t sign the document and it was forged. Although he didn’t explicitly say that Chen forged it, it was Chen’s side that submitted the flawed document to the court.
Lida Rodriguez-Taseff and Scott Marder, of Duane Morris LLP, represented Du in the lawsuit. Rodriguez-Taseff pointed to Chen’s testimony, where he admitted that the developer’s bank accounts was nearly empty despite receiving $158 million from Du, a resident of China. Little work has been done on the property, which has been closed for years. Chen testified that he earned over $400,000 in salary a year, employing two translators since he doesn’t speak English and bought a $2 million condo.
Fort Lauderdale attorney Benjamin E. Olive represents Chen in the lawsuit.
Judge Tutor urged Du and Chen to resolve their differences out of court so the project could move forward without years of delay. Du’s attorneys are preparing a motion to capitalize on the recent ruling.
Du has yet to select a team to manage the Fashion Mall redevelopment, Rodriguez-Taseff said.
With all this drama, maybe they should just turn the darn thing into a giant theatre. Just a thought.
Pointe Group Continues To Grow Team
/in News/by SFOBA STAFFPointe Group Advisors announced today that Adriana “AJ” Rosillo has joined the firm as Senior Vice President of Leasing.
In her new role, Rosillo will be responsible for continuing to pursue business in the leasing and sales of office space throughout South Florida.
Prior to joining Pointe Group, Rosillo worked as the Leasing Director of Flagler Real Estate Services, where she represented more than two million square feet of commercial real estate throughout Miami-Dade and Broward counties. She also previously served as a sales associate for WestVest Associates, Inc., where she was responsible for handling acquisitions and dispositions of commercial and industrial real estate.
Hornick
In June, Matthew Hornick joined Pointe Group Advisors as a leasing associate in the firm’s West Palm Beach office.
Hornick is a commercial real estate veteran with more than 20 years of experience. In his new role, he will be responsible for leasing in The Forum office building in West Palm Beach adjacent to the new Palm Beach Outlets, and will actively work to grow Pointe Group’s market presence.
Lowell
Also in June, Jack Lowell joined the full service real estate firm as Executive Vice President, after spending 17 of his 40 years in the industry with Flagler Real Estate Services.
Holly
William Holly, who served as President of Pointe Group Advisors since October, 2012, parted ways with the company late last month and is now serving as broker at Coral Gables-based Patton Real Estate, a company founded by Holly.
Pointe Group Advisors has offices in Miami, Fort Lauderdale, Palm Beach, Sarasota and Tampa, with more than ten million square feet of commercial space under management and leasing.
Rosillo graduated from Georgia Tech University with a bachelor’s degree in computer engineering. In 2010, she was recognized as a CoStar Power Broker. Active in the community, she is the former president of the Commercial Industrial Association of South Florida (CIASF) and BNI Business Leaders. She currently serves on the board of directors for Certified Commercial Investment Member (CCIM), Easter Seals Young Leaders and is a member of the National Association of Industrial and Office Properties (NAIOP).