Cushman & Wakefield negotiated the sale and financing of Northpoint Business Plaza, a ±79,516-square-foot office park in Palm Beach County.
The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Miguel Alcivar and Michael Ciadella, partnered with Michael Falk and Scott Weprin of Colliers International, who represented Northpoint Investments Partnership, LP in the disposition.
ATCG LLC acquired the buildings for $12.35 million, or $155 per square foot.
Jason Hochman of Cushman and Wakefield’s Equity, Debt and Structured Finance Group, assisted ATCG LLC in securing a $7.395 million acquisition loan from Citi.
Northpoint Business Plaza comprises four single-story office buildings developed in 1988 on an ±6.3-acre site at 901 Northpoint Parkway in West Palm Beach. The park is situated less than one mile from the Interstate 95 interchange at 45th Street (Exit 74). This location offers excellent access to Interstate 95, U.S. Highway 1, Florida’s Turnpike, Brightline, Tri-Rail and Palm Beach International Airport.
The buildings were 96.7% occupied at the time of sale. The average suite size is 1,807 square feet. Notable tenants included Healthy Mothers, Healthy Babies; Wood Environment & Infrastructure Solutions; Kennedy Contractors, Inc. and the Florida Department of Highway Safety.
Northpoint Investments Partnership, LP acquired the park in 2014 and subsequently completed a capital improvement program that involved extensive interior suite refurbishment, allowing them to add significant occupancy and drive up rental rates.
“Tenants are attracted to Northpoint Business Plaza due to its efficient, single-story design, which keeps common area expenses to a minimum, providing one of the most cost-effective options in northern Palm Beach County,” said Miller.
Added O’Donnell, “The property has limited competition and aligns perfectly with prospective tenants in the market.”
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2020-01-12 22:12:282020-01-12 22:12:28Four-Building Office Park In Palm Beach County Sells For $155 PSF
Stiles Construction, a large-scale general contracting firm and division of full-service commercial real estate company Stiles, was honored by receiving a Community Appearance Award from the City of Fort Lauderdale for the firm’s recently completed renovation of 501 Las Olas Square, which is located on the busy intersection of Las Olas and 5th Ave. – a half city block – in downtown Fort Lauderdale.
The project consisted of a complete interior and exterior renovation of a fully occupied, five-story, 45,856-square-foot office building joined by a courtyard. The renovation modernized the building and retrofitted it to allow for a new mixed-use of tenants including a high-end restaurant, bank, and office space.
“The design of this project truly resonates with the excitement and activity of Las Olas Blvd.,” said Tim Moore, president of Stiles Construction. “From the glass exterior on the retail level to the open and inviting gathering areas within, the well-thought out aesthetic injects new life and energy into the area. We are proud to have had the opportunity to transform this building into something that not only enhances and beautifies the neighborhood, but also brings additional value to the tenants and patrons.”
As part of the project, Stiles Construction replaced the imposing beige precast façade with a store front window system that provides natural light and creates a modern and inviting look. The exterior soffit was replaced with a high-tech faux wood “tongue and groove” system that boasted a decorative color pattern. The roofing, mechanical, electrical, and plumbing systems were upgraded with more energy efficient systems and hardscape/landscape along Las Olas Boulevard as well as the guest arrival area, and a previously underutilized patio behind the building was updated with pavers, tropical plants, trees and decorative benches.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2020-01-06 04:34:052020-01-06 04:34:05Stiles Construction Wins Community Appearance Award From City Of Fort Lauderdale
Spirit Airlines acquired the site of its future headquarters in Dania Beach for $32.5 million.
Dania Live 1748 II, an affiliate of Dania Pointe developer Kimco Realty, sold about 8.7 acres at the northwest corner of Bryan Road and Radiant Drive to Spirit Airlines. It’s within the partially completed Dania Pointe mixed-use project, which has retail, apartments and a hotel.
In October, Spirit Airlines announced it would relocate its global headquarters from Miramar into a new 500,000-square-foot facility in Dania Beach. The airline promised to move 1,000 employees to the new HQ and create another 250 jobs.
Slated to open in mid-2022, the facility would cost $250 million to build.
The presence of more than 1,000 Spirit Airlines employees should provide a big boost to the shops and restaurants at Dania Pointe as Kimco continues its buildout. Current tenants in the 102-acre site include BrandsMart USA, Hobby Lobby, YouFit, TJMaxx, Outback Steakhouse, TooJay’s, Firebirds Wood Fired Grill, and Five Below.
https://sfoba.com/wp-content/uploads/2013/10/Spirit.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2019-12-30 03:35:172019-12-30 03:35:17Spirit Airlines Pays $32.5M For New HQ Site
Alan Levy and Levy Realty Advisors will be hosting the SFOBA 2020 kickoff on January 16, 2020 at noon at Spectrum Office Park at 4901 NW 17th Way, just west of I-95 at Commercial Boulevard in Fort Lauderdale. We will have assorted Brightline Prizes and giveaways to all who attend.
Our guest speaker will be Najam Syed, Head of Asset Management for Brightline/Virgin Trains. Topics will include new stations for Boca Raton, Aventura and the Port of Miami as well as extension of the route to Orlando. Najam will also discuss Transit Oriented Development and it’s impact on the office market.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2019-12-23 13:25:592019-12-23 13:25:59Get on Track for 2020 – Levy Realty/Brightline to Host SFOBA Kickoff January 16, 2020
Newmark Knight Frank (NKF) finalized the sale of two Class A office buildings in South Florida totaling 77,969 square feet, according to a release.
Alan Long, managing director, brokered both transactions.
In the first transaction, Rushmore PGA, LLC sold a 33,090-square-foot office building known as PGA Professional and Design Center to JHKA Group, LLC. Alan Levy, Broker/President of Levy Realty Advisors, represented JHKA Group, LLC in the acquisition. The acquisition price was $10,200,000. Levy Realty Advisors has been appointed Property Manager and exclusive leasing agent.
Located in the heart of Palm Beach Gardens at 4290 Professional Center Drive, the office building is currently 100% leased. Built in 2007, the building showcases beautiful Mediterranean architecture in a pedestrian-friendly atmosphere and is located less than one mile from Interstate 95. Long represented the seller in the transaction.
“PGA Professional and Design Center was a strategic purchase for the buyers as it represents their first acquisition in Palm Beach County,” said Long. “We continue to see high demand for quality Class A office assets in South Florida due to the sparse amount of available space in the region.”
PGA Professional and Design Center is also located within 2 miles of Florida’s Turnpike and is surrounded by a bevy of retail and dining, including Downtown at the Gardens, Legacy Place Shops and The Gardens Mall, which together have more than 250 shops and restaurants.
In the second transaction, Med Prop Management, LLC bought University Medical Arts Building South, a 44,879-square-foot office building, from Rushmore Tamarac, LLC. Located at 7431 North University Drive in Tamarac, the building is 65% occupied with 15,457 square feet of available space. The building was originally constructed in 1998 and was renovated in 2017. Long represented both the buyer and the seller in the transaction.
The building lies on the campus of University Hospital and Medical Center and is located just minutes form the Sawgrass Expressway and the Florida Turnpike. The property also features high visibility along the adjacent State Route 817.
“This medical office building asset checked all the boxes for Med Prop Management, which required a value-add property,” Long said. “The acquisition furthers the buyer’s strategy of increasing asset diversification within their existing portfolio. Continued economic growth and development in the surrounding area will create new opportunities for ownership and strengthens the company’s position over the long haul.”
According to NKF Research, Broward County recorded its lowest vacancy rate in 12 years during Q3 2019, dipping below the 10% mark for the second consecutive quarter while leading the state in demand growth. Broward’s office sector experienced the strongest year-over-year rent growth for the region, with rental rates eclipsing the previous record high of $29.61/SF recorded in 2008.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2019-12-23 03:21:262019-12-23 03:21:26Two Class A Office Buildings Change Hands
Tiktin Real Estate Investment Services (TREIS) has announced two office buildings at 1250 and 2100 E. Hallandale Beach Blvd. in Hallandale Beach have hit the market for $36 million.
Adam J. Tiktin and Alejandro Snyder of TREIS are the exclusive sales agents and represent the Seller, KEI Properties. The buildings are located on the south side of East Hallandale Beach Boulevard and offer excellent visibility and signage opportunities. They are available as a portfolio or for individual sale.
Built in 1982 and situated on 2.7 acres, the 1250 E. Hallandale Beach Blvd. building is 11 stories tall and totals 110,447 rentable square feet. The building is currently nearly 87 percent occupied by medical and professional offices and is anchored by a 12,800 square foot gym.
Just two blocks east and constructed in 1968, the 2100 E. Hallandale Beach Blvd. building features four stories and totals a lot size of 85,680 square feet. The building is 92 percent occupied by mostly medical and professional offices as well. Situated on nearly two acres, 2100 East Hallandale Beach Blvd. allows for several redevelopment opportunities, as the current zoning allows for developers to build up to 350 feet.
The office market in Hallandale Beach is one of the region’s lowest vacancy markets, showing high supply and demand with only seven percent vacancy as of Q4 2018. This area has experienced significant development with two hotels built in the last three years. Additionally, there are nine projects under construction in Hallandale and 11 approved developments in the pipeline.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2019-12-16 03:11:282019-12-16 03:11:28Two Hallandale Beach Office Buildings Hit The Market
Four-Building Office Park In Palm Beach County Sells For $155 PSF
/in Done Deals, News/by SFOBA STAFFCushman & Wakefield negotiated the sale and financing of Northpoint Business Plaza, a ±79,516-square-foot office park in Palm Beach County.
The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Miguel Alcivar and Michael Ciadella, partnered with Michael Falk and Scott Weprin of Colliers International, who represented Northpoint Investments Partnership, LP in the disposition.
ATCG LLC acquired the buildings for $12.35 million, or $155 per square foot.
Jason Hochman of Cushman and Wakefield’s Equity, Debt and Structured Finance Group, assisted ATCG LLC in securing a $7.395 million acquisition loan from Citi.
Northpoint Business Plaza comprises four single-story office buildings developed in 1988 on an ±6.3-acre site at 901 Northpoint Parkway in West Palm Beach. The park is situated less than one mile from the Interstate 95 interchange at 45th Street (Exit 74). This location offers excellent access to Interstate 95, U.S. Highway 1, Florida’s Turnpike, Brightline, Tri-Rail and Palm Beach International Airport.
The buildings were 96.7% occupied at the time of sale. The average suite size is 1,807 square feet. Notable tenants included Healthy Mothers, Healthy Babies; Wood Environment & Infrastructure Solutions; Kennedy Contractors, Inc. and the Florida Department of Highway Safety.
Northpoint Investments Partnership, LP acquired the park in 2014 and subsequently completed a capital improvement program that involved extensive interior suite refurbishment, allowing them to add significant occupancy and drive up rental rates.
Stiles Construction Wins Community Appearance Award From City Of Fort Lauderdale
/in News/by SFOBA STAFFStiles Construction, a large-scale general contracting firm and division of full-service commercial real estate company Stiles, was honored by receiving a Community Appearance Award from the City of Fort Lauderdale for the firm’s recently completed renovation of 501 Las Olas Square, which is located on the busy intersection of Las Olas and 5th Ave. – a half city block – in downtown Fort Lauderdale.
The project consisted of a complete interior and exterior renovation of a fully occupied, five-story, 45,856-square-foot office building joined by a courtyard. The renovation modernized the building and retrofitted it to allow for a new mixed-use of tenants including a high-end restaurant, bank, and office space.
As part of the project, Stiles Construction replaced the imposing beige precast façade with a store front window system that provides natural light and creates a modern and inviting look. The exterior soffit was replaced with a high-tech faux wood “tongue and groove” system that boasted a decorative color pattern. The roofing, mechanical, electrical, and plumbing systems were upgraded with more energy efficient systems and hardscape/landscape along Las Olas Boulevard as well as the guest arrival area, and a previously underutilized patio behind the building was updated with pavers, tropical plants, trees and decorative benches.
Spirit Airlines Pays $32.5M For New HQ Site
/in Done Deals, News/by SFOBA STAFFSpirit Airlines acquired the site of its future headquarters in Dania Beach for $32.5 million.
Dania Live 1748 II, an affiliate of Dania Pointe developer Kimco Realty, sold about 8.7 acres at the northwest corner of Bryan Road and Radiant Drive to Spirit Airlines. It’s within the partially completed Dania Pointe mixed-use project, which has retail, apartments and a hotel.
In October, Spirit Airlines announced it would relocate its global headquarters from Miramar into a new 500,000-square-foot facility in Dania Beach. The airline promised to move 1,000 employees to the new HQ and create another 250 jobs.
Slated to open in mid-2022, the facility would cost $250 million to build.
The presence of more than 1,000 Spirit Airlines employees should provide a big boost to the shops and restaurants at Dania Pointe as Kimco continues its buildout. Current tenants in the 102-acre site include BrandsMart USA, Hobby Lobby, YouFit, TJMaxx, Outback Steakhouse, TooJay’s, Firebirds Wood Fired Grill, and Five Below.
Source: SFBJ
Get on Track for 2020 – Levy Realty/Brightline to Host SFOBA Kickoff January 16, 2020
/in News, Upcoming Events/by SFOBA STAFFAlan Levy and Levy Realty Advisors will be hosting the SFOBA 2020 kickoff on January 16, 2020 at noon at Spectrum Office Park at 4901 NW 17th Way, just west of I-95 at Commercial Boulevard in Fort Lauderdale. We will have assorted Brightline Prizes and giveaways to all who attend.
Our guest speaker will be Najam Syed, Head of Asset Management for Brightline/Virgin Trains. Topics will include new stations for Boca Raton, Aventura and the Port of Miami as well as extension of the route to Orlando. Najam will also discuss Transit Oriented Development and it’s impact on the office market.
Two Class A Office Buildings Change Hands
/in Done Deals, News/by SFOBA STAFFNewmark Knight Frank (NKF) finalized the sale of two Class A office buildings in South Florida totaling 77,969 square feet, according to a release.
Alan Long, managing director, brokered both transactions.
In the first transaction, Rushmore PGA, LLC sold a 33,090-square-foot office building known as PGA Professional and Design Center to JHKA Group, LLC. Alan Levy, Broker/President of Levy Realty Advisors, represented JHKA Group, LLC in the acquisition. The acquisition price was $10,200,000. Levy Realty Advisors has been appointed Property Manager and exclusive leasing agent.
Located in the heart of Palm Beach Gardens at 4290 Professional Center Drive, the office building is currently 100% leased. Built in 2007, the building showcases beautiful Mediterranean architecture in a pedestrian-friendly atmosphere and is located less than one mile from Interstate 95. Long represented the seller in the transaction.
PGA Professional and Design Center is also located within 2 miles of Florida’s Turnpike and is surrounded by a bevy of retail and dining, including Downtown at the Gardens, Legacy Place Shops and The Gardens Mall, which together have more than 250 shops and restaurants.
In the second transaction, Med Prop Management, LLC bought University Medical Arts Building South, a 44,879-square-foot office building, from Rushmore Tamarac, LLC. Located at 7431 North University Drive in Tamarac, the building is 65% occupied with 15,457 square feet of available space. The building was originally constructed in 1998 and was renovated in 2017. Long represented both the buyer and the seller in the transaction.
The building lies on the campus of University Hospital and Medical Center and is located just minutes form the Sawgrass Expressway and the Florida Turnpike. The property also features high visibility along the adjacent State Route 817.
According to NKF Research, Broward County recorded its lowest vacancy rate in 12 years during Q3 2019, dipping below the 10% mark for the second consecutive quarter while leading the state in demand growth. Broward’s office sector experienced the strongest year-over-year rent growth for the region, with rental rates eclipsing the previous record high of $29.61/SF recorded in 2008.
Two Hallandale Beach Office Buildings Hit The Market
/in News/by SFOBA STAFFTiktin Real Estate Investment Services (TREIS) has announced two office buildings at 1250 and 2100 E. Hallandale Beach Blvd. in Hallandale Beach have hit the market for $36 million.
Adam J. Tiktin and Alejandro Snyder of TREIS are the exclusive sales agents and represent the Seller, KEI Properties. The buildings are located on the south side of East Hallandale Beach Boulevard and offer excellent visibility and signage opportunities. They are available as a portfolio or for individual sale.
Built in 1982 and situated on 2.7 acres, the 1250 E. Hallandale Beach Blvd. building is 11 stories tall and totals 110,447 rentable square feet. The building is currently nearly 87 percent occupied by medical and professional offices and is anchored by a 12,800 square foot gym.
Just two blocks east and constructed in 1968, the 2100 E. Hallandale Beach Blvd. building features four stories and totals a lot size of 85,680 square feet. The building is 92 percent occupied by mostly medical and professional offices as well. Situated on nearly two acres, 2100 East Hallandale Beach Blvd. allows for several redevelopment opportunities, as the current zoning allows for developers to build up to 350 feet.
The office market in Hallandale Beach is one of the region’s lowest vacancy markets, showing high supply and demand with only seven percent vacancy as of Q4 2018. This area has experienced significant development with two hotels built in the last three years. Additionally, there are nine projects under construction in Hallandale and 11 approved developments in the pipeline.