Jones Lang LaSalle has secured a 40,000-square-foot lease on behalf of Berlin Packaging, a leading North American packaging supplier, at a new spec distribution building at 9682-9698 Premier Parkway, located within the Miramar Park of Commerce.
The lease marks a significant expansion for the Chicago-based company in the South Florida market. Jones Lang LaSalle’s Managing Director Steven Medwin SIOR, CCIM, Senior Vice President Chris Watts and Vice President Nick Wigoda, completed the lease transaction on behalf of the tenant.
The Berlin Packaging lease brings total occupancy at the 87,540-square-foot building to 100 percent just one month after Sunbeam Properties delivered the spec building to the market. Chicago-based Berlin Packaging chose to expand its South Florida presence to better service new and existing customers from its new home in Broward County.
“We are excited for our new warehousing space in the Miramar Park of Commerce. It will enable us to thrill even more customers with our inventory programs and our long track record of on-time delivery,” said Larry Rydzewski, Berlin Packaging’s Chief Operating Officer.
The remainder of the building is occupied by a new-to-market manufacturing company which recently leased nearly 48,000 square feet, a deal also completed by Jones Lang LaSalle brokers.
“The fact that two highly regarded national companies have absorbed the latest spec building to be constructed at Miramar Park of Commerce, just one month after the new building was delivered, is a testament to the desirability for new warehouses and the strength of the South Florida industrial market,” said Jones Lang LaSalle Managing Director Steven Medwin. “Seeing national companies expanding here is a positive indicator for our regional economy, as their investments translate to additional jobs and increased business activity for our marketplace.”
With demand outpacing supply in South Florida’s industrial market, the region continues to see new spec projects breaking ground within submarkets like Airport West, Medley and parts of Southwest Broward County, according to Jones Lang LaSalle’s latest South Florida Industrial Highlights report. Currently, there are 10 speculative warehouses under construction in South Florida by institutional owners, such as Prologis, Industrial Income Trust, DCT Industrial Trust, and KTR Capital Partners.
https://sfoba.com/wp-content/uploads/2012/07/Miramar-Park-of-Commerce.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2013-04-03 22:04:182013-04-03 22:04:18Packaging Supplier Inks 40,000 SF Lease
CBRE has completed a major 39,788 square foot lease for a Professional Services firm at an office building within The Arbors Campus in Delray Beach, a 245,000 square foot office campus.
Senior Vice President Jeffrey Kelly joined Deborah Fink on the CBRE team representing the landlord. CBRE’s Jay Dowlen, Charlie Carrocio and John Jaspert represented the tenant. The name of the Professional Services firm has not been disclosed.
The transaction placed the firm at 1615 Congress Avenue and furthers a significant increase in occupancy levels since a change in ownership and management took place less than a year ago.
“Within the past six months, more than 64,000 square feet of new leasing and tenant move-ins have been accomplished at The Arbors,
New ownership and CBRE’s leasing and management teams, coupled with an exceptional campus location and economic value, have attracted prestigious new tenants such as Hospice of Palm Beach County, Regus and a notable Professional Services firm,” said CBRE Vice President Deborah Fink.
Managed and leased by CBRE, The Arbors was purchased by 1615 Arbors North Associates, LLC an affiliate of RexxHall Realty, LLC, based in New Rochelle, NY, through the CBRE Private Capital Markets group one year ago. In that time, the three-building campus has moved from 45% to 66% occupancy.
“The efforts of the CBRE team, combined with ownership’s attention to tenant needs and detail, has given The Arbors a real competitive edge in the marketplace,” said Daniel Stauber, Managing Director of RexxHall Realty, LLC.
Carrocio and Jaspert are a part of the newly formed CBRE Florida Occupier Service Practice Group. Coldwell Banker’s Ingrid Fulmer and Andrea Raskin-Lapis represented Hospice and Jones Lang LaSalle’s Scott Goldstein and Keith Edelman represented Regus.
https://sfoba.com/wp-content/uploads/2011/12/The-Arbors-Office-Park.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2013-04-02 16:31:132013-04-02 16:31:13Deborah Fink, Jeff Kelly Sign 40,000 SF Tenant
The 2013 Session is in full swing and much of the discussion is about the tight budget.
While the Florida Legislature is not starting with a deficit as they have in the past many years, there is very little wiggle room. As most everyone knows, a full repeal of the sales tax on commercial rents is scored as a cost of approximately $1.3 billion. The Florida Realtors’ bill sponsors introduced a phase out of the tax over six years to minimize that fiscal impact. They meet with legislators EVERY day about this priority and while the merits of the public policy are being embraced across the board, there are still concerns with the fiscal impact of a total phase out. Knowing the state budget will only get better, they have raised the idea of lowering the sales tax from 6% to 5% this year and then they can come back next year and continue the work (it gets them the same short term positive impact but the fiscal is lower when not including 4%, 3%, 2%, 1% and then eventually total repeal in the current bill). Legislative leaders do appear more open to this option for the current session, but they would still need to help them find the $90+ million that this would cost in year one.
No matter what they advocate this year, the Florida Realtors organization is laying the groundwork for a full repeal over the next few years. They want to see some positive movement in the current session on this issue though. Therefore, they have drafted four potential amendments to the current legislation with the hope of getting that positive movement.
You can read the current legislation by going to the organization’s Legislative Tracker and scrolling down to HB 629 or SB 656. Again, as introduced, this legislation provides for a phase out of the sales tax on commercial leases over six years.
The four amendments they have drafted as potential back up options would replace the six year phase out with one of the following:
Lowering the sales tax from 6% to 5%. As mentioned above, this still costs over $90 million in the first year (with Jan 1, 2014 start date) and over $216 million in successive years.
Repealing just the sales tax paid on property tax. Legislative staff are assuming property taxes are approximately 4.5% of rent receipts.
Removing the sales tax on CAM charges (legislative staff believe this costs more than option 2 or 4).
Removing the sales tax on property insurance.
The sales tax on commercial rents issue WILL be one of the top talking points for Great American Realtor Days. Join them at the Capitol on April 9 & 10. It is expected that the House bill will be on the agenda of the House Finance & Tax Subcommittee prior to then. There will be a call for action when it is cleared for the agenda.
NAI/Merin Hunter Codman, Inc., announced that Spencer Grossman, Senior Commercial Associate at NAI/Merin Hunter Codman, has been named the firm’s Broker of the Year.
Grossman closed a plethora of noteworthy commercial property transactions in Palm Beach County, helping to continue the firm’s stretch as the county’s top ranked commercial property brokerage firm. Grossman’s high production included several alternative uses for distressed assets, providing renewed optimism that imaginative solutions will help clear the backlog of properties on the market.
Grossman continues the strong precedent set by his father, Jay M. Grossman, who helped found NAI/Merin Hunter Codman with Neil E. Merin more than 20 years ago and grew it into one of the most respected commercial property brokerage firms in the state.
“Spencer Grossman came up with creative solutions that allowed him to close numerous challenging deals over the past year,” said Jordan C. Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Spencer’s ability to understand both market dynamics and the key financial drivers that create value enabled him to come up with unique ideas that maximized value for our clients.”
In one of the innovative transactions orchestrated by Grossman, he arranged the sale of a large, 50,000 square-foot furniture showroom to a charter school. Mavericks High, a statewide charter school consortium headed by Francis Biden, the brother of the United States Vice President, took over the property once occupied by Carl’s Furniture at 1889 Palm Beach Lakes Boulevard in West Palm Beach. Grossman also arranged the sale of The Habitat Center, a 62,000 square-foot retail/office center at 4047 Okeechobee Boulevard in West Palm Beach to an affiliate of the Schumacher Auto Group. Furthermore, he arranged the sale of an office building whose anchor tenant became a diagnostic imaging center, in yet another innovative transaction. Grossman was also instrumental in relocating the iconic Palm Beach restaurant Hamburger Heaven to a new location on the waterfront in West Palm Beach.
Spencer Grossman, who joined NAI/Merin Hunter Codman in 2010, is optimistic about the future of commercial real estate in South Florida. “The risk appetite of commercial property investors and users is returning,” said Grossman. “The opportunistic ‘first movers’ that often lead market recoveries are recognizing the value to be gained with South Florida real estate. The economy improving, together with a lack of developable land, has led to momentum in the residential property sector. Retail is close on its heels with an office recovery expected to follow suit.”
Grossman noted that the attractive pricing of distressed assets — often acquired in default by financial institutions — has allowed new owners/tenants the wherewithal to bear lower occupancies than usual while waiting on a further market recovery. He expects to announce a large retail property sale in Palm Beach County this quarter with more to follow in adjacent counties.
https://sfoba.com/wp-content/uploads/2013/03/Spencer-Grossman.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2013-03-20 18:46:532013-03-20 18:46:53Spencer Grossman Named NAI/Merin Hunter Codman’s Broker of the Year
The Port Everglades Association will be hosting the Economic Engine Performance Report on Friday, April 5th.
The program will feature Broward County Mayor Kristin Jacobs, Port Everglades Director Steve Cernak, Aviation Director Kent George and Convention & Visitors Bureau CEO Nicki Grossman.
Reese Stigliano, Senior Vice President of Brenner Real Estate Group, represented the seller in the sale of a 36-unit residential apartment complex located in Hollywood.
The Seller was Akron Corporation, a Miami Beach-based company. The Buyer was Trust Real Estate Ventures LLC, a Hallandale Beach real estate investment company. The $1.125 million sale closed on February 28, 2013.
This is the second time Reese sold the property. In 2010 Reese represented JP Morgan Chase in the sale of the property to Akron Corporation. According to Charles Goodman, president of Akron Corporation, “When I bought the property from Chase, I was extremely impressed with Reese. Even though he represented the Seller, I had complete trust in him. He treated me honestly and was a consummate professional all the way through the transaction. When I purchased the property, there was no due diligence material. Reese was extremely helpful, answering questions and tracking down missing documents needed for the closing.”
According to Goodman, “When it came time to sell the property, Reese was the first person I called. I admired his knowledge, his tenaciousness and I knew he would do a good job for me.
“The property, built in the 50’s, was not an easy property to sell. The 36 units are spread out as 18 duplexes on 2 acres of land.” said Reese. “Fortunately, I was able to use all the work I did on the first transaction, to make the second sale close without a hitch.”
Packaging Supplier Inks 40,000 SF Lease
/in Done Deals, News/by SFOBA STAFFJones Lang LaSalle has secured a 40,000-square-foot lease on behalf of Berlin Packaging, a leading North American packaging supplier, at a new spec distribution building at 9682-9698 Premier Parkway, located within the Miramar Park of Commerce.
The lease marks a significant expansion for the Chicago-based company in the South Florida market. Jones Lang LaSalle’s Managing Director Steven Medwin SIOR, CCIM, Senior Vice President Chris Watts and Vice President Nick Wigoda, completed the lease transaction on behalf of the tenant.
The Berlin Packaging lease brings total occupancy at the 87,540-square-foot building to 100 percent just one month after Sunbeam Properties delivered the spec building to the market. Chicago-based Berlin Packaging chose to expand its South Florida presence to better service new and existing customers from its new home in Broward County.
“We are excited for our new warehousing space in the Miramar Park of Commerce. It will enable us to thrill even more customers with our inventory programs and our long track record of on-time delivery,” said Larry Rydzewski, Berlin Packaging’s Chief Operating Officer.
The remainder of the building is occupied by a new-to-market manufacturing company which recently leased nearly 48,000 square feet, a deal also completed by Jones Lang LaSalle brokers.
“The fact that two highly regarded national companies have absorbed the latest spec building to be constructed at Miramar Park of Commerce, just one month after the new building was delivered, is a testament to the desirability for new warehouses and the strength of the South Florida industrial market,” said Jones Lang LaSalle Managing Director Steven Medwin. “Seeing national companies expanding here is a positive indicator for our regional economy, as their investments translate to additional jobs and increased business activity for our marketplace.”
With demand outpacing supply in South Florida’s industrial market, the region continues to see new spec projects breaking ground within submarkets like Airport West, Medley and parts of Southwest Broward County, according to Jones Lang LaSalle’s latest South Florida Industrial Highlights report. Currently, there are 10 speculative warehouses under construction in South Florida by institutional owners, such as Prologis, Industrial Income Trust, DCT Industrial Trust, and KTR Capital Partners.
Deborah Fink, Jeff Kelly Sign 40,000 SF Tenant
/in Done Deals, News/by SFOBA STAFFCBRE has completed a major 39,788 square foot lease for a Professional Services firm at an office building within The Arbors Campus in Delray Beach, a 245,000 square foot office campus.
Senior Vice President Jeffrey Kelly joined Deborah Fink on the CBRE team representing the landlord. CBRE’s Jay Dowlen, Charlie Carrocio and John Jaspert represented the tenant. The name of the Professional Services firm has not been disclosed.
The transaction placed the firm at 1615 Congress Avenue and furthers a significant increase in occupancy levels since a change in ownership and management took place less than a year ago.
“Within the past six months, more than 64,000 square feet of new leasing and tenant move-ins have been accomplished at The Arbors,
New ownership and CBRE’s leasing and management teams, coupled with an exceptional campus location and economic value, have attracted prestigious new tenants such as Hospice of Palm Beach County, Regus and a notable Professional Services firm,” said CBRE Vice President Deborah Fink.
Managed and leased by CBRE, The Arbors was purchased by 1615 Arbors North Associates, LLC an affiliate of RexxHall Realty, LLC, based in New Rochelle, NY, through the CBRE Private Capital Markets group one year ago. In that time, the three-building campus has moved from 45% to 66% occupancy.
“The efforts of the CBRE team, combined with ownership’s attention to tenant needs and detail, has given The Arbors a real competitive edge in the marketplace,” said Daniel Stauber, Managing Director of RexxHall Realty, LLC.
Carrocio and Jaspert are a part of the newly formed CBRE Florida Occupier Service Practice Group. Coldwell Banker’s Ingrid Fulmer and Andrea Raskin-Lapis represented Hospice and Jones Lang LaSalle’s Scott Goldstein and Keith Edelman represented Regus.
UPDATE: Sales Tax On Commercial Leases
/in News/by SFOBA STAFFThe 2013 Session is in full swing and much of the discussion is about the tight budget.
While the Florida Legislature is not starting with a deficit as they have in the past many years, there is very little wiggle room. As most everyone knows, a full repeal of the sales tax on commercial rents is scored as a cost of approximately $1.3 billion. The Florida Realtors’ bill sponsors introduced a phase out of the tax over six years to minimize that fiscal impact. They meet with legislators EVERY day about this priority and while the merits of the public policy are being embraced across the board, there are still concerns with the fiscal impact of a total phase out. Knowing the state budget will only get better, they have raised the idea of lowering the sales tax from 6% to 5% this year and then they can come back next year and continue the work (it gets them the same short term positive impact but the fiscal is lower when not including 4%, 3%, 2%, 1% and then eventually total repeal in the current bill). Legislative leaders do appear more open to this option for the current session, but they would still need to help them find the $90+ million that this would cost in year one.
No matter what they advocate this year, the Florida Realtors organization is laying the groundwork for a full repeal over the next few years. They want to see some positive movement in the current session on this issue though. Therefore, they have drafted four potential amendments to the current legislation with the hope of getting that positive movement.
You can read the current legislation by going to the organization’s Legislative Tracker and scrolling down to HB 629 or SB 656. Again, as introduced, this legislation provides for a phase out of the sales tax on commercial leases over six years.
The four amendments they have drafted as potential back up options would replace the six year phase out with one of the following:
The sales tax on commercial rents issue WILL be one of the top talking points for Great American Realtor Days. Join them at the Capitol on April 9 & 10. It is expected that the House bill will be on the agenda of the House Finance & Tax Subcommittee prior to then. There will be a call for action when it is cleared for the agenda.
Source: Florida Realtors
Spencer Grossman Named NAI/Merin Hunter Codman’s Broker of the Year
/in News/by SFOBA STAFFNAI/Merin Hunter Codman, Inc., announced that Spencer Grossman, Senior Commercial Associate at NAI/Merin Hunter Codman, has been named the firm’s Broker of the Year.
Grossman closed a plethora of noteworthy commercial property transactions in Palm Beach County, helping to continue the firm’s stretch as the county’s top ranked commercial property brokerage firm. Grossman’s high production included several alternative uses for distressed assets, providing renewed optimism that imaginative solutions will help clear the backlog of properties on the market.
Grossman continues the strong precedent set by his father, Jay M. Grossman, who helped found NAI/Merin Hunter Codman with Neil E. Merin more than 20 years ago and grew it into one of the most respected commercial property brokerage firms in the state.
“Spencer Grossman came up with creative solutions that allowed him to close numerous challenging deals over the past year,” said Jordan C. Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Spencer’s ability to understand both market dynamics and the key financial drivers that create value enabled him to come up with unique ideas that maximized value for our clients.”
In one of the innovative transactions orchestrated by Grossman, he arranged the sale of a large, 50,000 square-foot furniture showroom to a charter school. Mavericks High, a statewide charter school consortium headed by Francis Biden, the brother of the United States Vice President, took over the property once occupied by Carl’s Furniture at 1889 Palm Beach Lakes Boulevard in West Palm Beach. Grossman also arranged the sale of The Habitat Center, a 62,000 square-foot retail/office center at 4047 Okeechobee Boulevard in West Palm Beach to an affiliate of the Schumacher Auto Group. Furthermore, he arranged the sale of an office building whose anchor tenant became a diagnostic imaging center, in yet another innovative transaction. Grossman was also instrumental in relocating the iconic Palm Beach restaurant Hamburger Heaven to a new location on the waterfront in West Palm Beach.
Spencer Grossman, who joined NAI/Merin Hunter Codman in 2010, is optimistic about the future of commercial real estate in South Florida. “The risk appetite of commercial property investors and users is returning,” said Grossman. “The opportunistic ‘first movers’ that often lead market recoveries are recognizing the value to be gained with South Florida real estate. The economy improving, together with a lack of developable land, has led to momentum in the residential property sector. Retail is close on its heels with an office recovery expected to follow suit.”
Grossman noted that the attractive pricing of distressed assets — often acquired in default by financial institutions — has allowed new owners/tenants the wherewithal to bear lower occupancies than usual while waiting on a further market recovery. He expects to announce a large retail property sale in Palm Beach County this quarter with more to follow in adjacent counties.
Economic Engine Performance Report
/in News, Upcoming Events/by SFOBA STAFFThe Port Everglades Association will be hosting the Economic Engine Performance Report on Friday, April 5th.
The program will feature Broward County Mayor Kristin Jacobs, Port Everglades Director Steve Cernak, Aviation Director Kent George and Convention & Visitors Bureau CEO Nicki Grossman.
See below for additional details:
Stigliano Closes 36-Unit Multi-Family Project
/in News/by SFOBA STAFFReese Stigliano, Senior Vice President of Brenner Real Estate Group, represented the seller in the sale of a 36-unit residential apartment complex located in Hollywood.
The Seller was Akron Corporation, a Miami Beach-based company. The Buyer was Trust Real Estate Ventures LLC, a Hallandale Beach real estate investment company. The $1.125 million sale closed on February 28, 2013.
This is the second time Reese sold the property. In 2010 Reese represented JP Morgan Chase in the sale of the property to Akron Corporation. According to Charles Goodman, president of Akron Corporation, “When I bought the property from Chase, I was extremely impressed with Reese. Even though he represented the Seller, I had complete trust in him. He treated me honestly and was a consummate professional all the way through the transaction. When I purchased the property, there was no due diligence material. Reese was extremely helpful, answering questions and tracking down missing documents needed for the closing.”
According to Goodman, “When it came time to sell the property, Reese was the first person I called. I admired his knowledge, his tenaciousness and I knew he would do a good job for me.
“The property, built in the 50’s, was not an easy property to sell. The 36 units are spread out as 18 duplexes on 2 acres of land.” said Reese. “Fortunately, I was able to use all the work I did on the first transaction, to make the second sale close without a hitch.”