Avison Young Principal Keith O’Donnell completed three transactions totaling $33 million on behalf of Investors Warranty of America to sell a 42.7-acre property in Delray Beach. The site is the former Office Depot headquarters at S. Congress Avenue and Old Germantown Road.
“Immediately after being awarded the listing, we evaluated multiple and varied uses including colleges, office, and entertainment, and investors looking to renovate existing assets,” said O’Donnell. “Ultimately, we secured a dream team of well-known developers to purchase the property and embark on a transformative redevelopment project.”
The property was divided into three parcels and sold to three South Florida development groups which joined together to create a new mixed-use project. Centerpointe Delray Holdings, a partnership between Miami-based firms 13th Floor Investments and Key International and Boca Raton-based CDS International Holdings, plans to build more than 600 multifamily units. Separately, CDS, which also owns The Arbors office building on the northeast corner of the site, plans to develop retail and office components. The project will be anchored by a 1.8-acre park with jogging and bike trails to connect to the 25-acre Delray Natural Oaks Preserve.
“We are excited to bring residential units for families and young professionals to Delray Beach as part of a landmark commercial site,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “The result will be a world-class live-work-play community in line with the city’s vision for a vibrant destination along Congress Avenue.”
Inigo Ardid, Co-President of Key International, added: “We’re looking forward to delivering a new wave of residential product to the Delray Beach market, which poses significant growth opportunities. This site will work in tandem with the exciting additions joining the area to create a central lifestyle locale.”
The Delray Beach City Commission unanimously approved the master plan and will collaborate with the developers on the project. Four- and five-story apartment buildings and two- and three-story townhouse buildings are planned. The retail and restaurant space will be near the S. Congress Avenue and Old Germantown Road intersection.
“Early in the seller’s quest for buyers, Keith brought the property to my attention and challenged our team to think about how this last great South Palm Beach County parcel could be integrated into the success of Delray Beach’s downtown transformation,” said Jeff Perlman, Vice President of CDS and former Delray Beach Mayor. “I was the mayor who got the call about Office Depot leaving the site for Boca Raton 12 years ago, a decision that prompted us to rethink the future of Congress Avenue. We believed back then – and still do – that this property will be the catalyst to create Delray Beach’s next great street, and it’s an honor to be involved.”
O’Donnell’s history with the property, which dates back to its days of IBM’s occupancy through Office Depot’s growth to a global enterprise, played a significant role in Investors Warranty’s selection of Avison Young to lead the sale.
“We remained committed to ensuring the delivery to Delray Beach the type of project it deserved while maximizing upside for our shareholders, and Keith’s experience with the property and other complex projects nearby such as Mizner Park in Boca Raton proved invaluable in achieving our goals,” said David Feltman, former executive of Investors Warranty.
https://sfoba.com/wp-content/uploads/layerslider/projects/Enfold-most-beautiful-theme-ever/slide1_Layer_1.png4701600SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2019-01-07 02:49:432019-01-07 02:49:43Office Depot HQ Site Sells For $33 Million
The winners of the eighth annual Daily Business Review “Best Of 2018” readers’ poll were recently revealed and Cresa was ranked the Best Commercial Real Estate Brokerage Firm (Office) in South Florida.
The annual poll, wherein DBR readers cast their votes for the best legal and real estate companies in the Florida market, “showcases the businesses that stand out among their competitors in providing the essentials required to compete in today’s market,” according to the publication. Cresa was also recognized in the DBR’s “Best Of 2017” poll as the second Best Commercial Real Estate Brokerage Firm (Office).
“We are truly delighted to be recognized once again by the readers of the Daily Business Review as the Top Commercial Real Estate Brokerage Firm in South Florida,” commented Caroline Fleischer, Managing Principal, Cresa South Florida. “Being voted #1 comes with distinction, and also a great amount of responsibility to our industry and our clients. Our team is committed to serving the community and our customers as we continue to grow and expand.”
Cresa’s Miami and Fort Lauderdale offices track office and industrial space and trends in the South Florida market, which includes Miami-Dade, Broward and Palm Beach counties. This three-county metropolitan area, also known as the “Gateway to the Americas,” is recognized worldwide as a top international center for commerce and trade and is home to over 1,300 multinational companies from 56 countries. Cresa South Florida specializes in strategic planning, occupier representation, site selection, and sales and dispositions. They also assist with logistics and supply chain management for a wide variety of industrial clients, including distribution and manufacturing companies.
The South Florida team includes (in alphabetical order by last name):
The Cresa South Florida Industrial Team recently completed 7 transactions on behalf of its clients. Hartsook, Willis, and Hubbard represented Consolidated Electrical Distributors, UniFirst in 2 locations, Flamingo Oil/ShopServ, Anixter, CED Greentech, and Ready 2 Transport. The deals completed reflect over 200,000 square feet of industrial space and a value of over $8,000,000.
Cresa’s conflict-free business model is central to its position as the world’s most trusted occupier-centric commercial real estate firm, according to the firm.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2018-12-31 00:01:382018-12-31 00:01:38Cresa Recognized As Best Commercial Real Estate Brokerage Firm In South Florida
Blanca Commercial Real Estate announced its completion of two lease transactions totaling 13,536 square feet at the Miramar Tech Center, located at 2900 Monarch Lakes Blvd. in Miramar. The news follows the recent occupancy of United Data Technologies into the three-story Class A office building offering approximately 56,710 rentable square feet.
The leases include new tenant 03b Networks (7,011 sf), a subsidiary of SES Networks and the world-leading satellite operator with over 50 satellites in geostationary Earth orbit and 16 in medium Earth orbit, which was represented by Juan Jaramillo of FGI Realty; and the University of Florida’s Warrington’s College of Business (6,525 sf) represented by Franklin Street’s Tom Farmer.
They join recent occupant and building owner UDT (21,155 sf), a technology enabler that helps clients in major industries evaluate, architect, secure and manage technology in mobile, on premise and in the cloud.
“We are thrilled to have facilitated the completion of these lease deals with top organizations on the vanguard of technology and business who appreciate everything this new property has to offer,” said Juan Ruiz Executive Vice President of Blanca Commercial Real Estate. “Its central location and ability to attract top talent from the area makes this property an ideal choice for any company with its eye towards the future.”
Added Henry Fleches, CEO of UDT, “The Miramar Tech Center features some of the most advanced redundancy and backup systems in the area making it a perfect solution for any company with a robust need to provide continuous, noninterrupted service, or for any organization looking to ensure business continuity.”
The Tech Center is located in the heart of Miramar and boasts full generator backup power, wind-rated impact glass, electric car charging stations, dual HVAC chillers, heavy power and multiple telecommunication carriers and feeds to ensure redundancy and business continuity. The building is also hardened for hurricane resistance and offers high-end conferencing facilities and garage parking of 5.3 per 1,000 square feet.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2018-12-17 02:02:022018-12-17 02:02:02Tech Firm Moves HQ To Newly-Constructed Miramar Tech Center, 2 Additional Tenants Ink Deals
After recently moving its worldwide headquarters to Fort Lauderdale from outh Lake, Texas, medical air transportation company MASA Global has acquired an office building in Plantation for $12.85 million.
Cornerstone Condominium Investors, managed by Stacey Vogel, sold the 61,362-square-foot office building at 1250 S. Pine Island Road to MASA Property Management, an affiliate of MASA Global. (MASA stands for Medical Air Services Association.) The buyer received a $10.5 million mortgage from Valley National Bank.
The price equated to $209 a square foot.
The office building was constructed on the 2.1-acre site in 2008. It’s just north of busy Interstate 595.
MASA Global’s interest in Broward County was revealed in April 2017, when the Business Journal wrote that the company – under the name “Project Bogey” – filed a job growth incentive application to open an office in Fort Lauderdale. At the time, its headquarters were in South Lake, Texas.
State records show that, in August 2017, MASA Global was approved for up to $210,000 in Qualified Target Industry (QTI) incentives from the state and local governments, should it meet the goal of creating 35 jobs in Broward with an average wage of $71,789. Those jobs must be maintained through 2022.
Maggie Gunther, spokesperson for the Greater Fort Lauderdale Alliance, which helped MASA Global reach the QTI deal, said the project was approved for Fort Lauderdale and no incentives have been paid out to date.
On its website, MASA Global’s worldwide headquarters is now listed as 101 N.E. Third Ave., Suite 1600 in Fort Lauderdale. It still has a membership office in South Lake, Texas. The company has over 1 million members worldwide who depend on it to fly them to medical centers for emergency care. Many of its satellite offices are in Latin America and the Caribbean, which are easily reachable through South Florida airports.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2018-12-10 02:00:592018-12-10 02:00:59Medical Air Transport Company Moves HQ To Broward
NAI/Merin Hunter Codman, Inc. announced that it completed one of the largest office lease transactions in Palm Beach County this year with TherapeuticsMD, Inc., which signed a 56,212-square-foot lease at 951 Yamato.
Jay M. Grossman, President and Director, and Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC.
Molly McDonough, Senior Vice-President of Butters Realty & Management, represented the tenant in the transaction.
The long-time Boca Raton-based pharmaceutical firm received three FDA product approvals since May and has outgrown its 32,000-square-foot location at 6800 Broken Sound Parkway NW, also in Boca Raton.
When asked why TherapeuticsMD chose 951 Yamato, Josie Weitzel, Director of Corporate Operations, stated “After two long years of researching facility options in the Palm Beach County area, we finally found a space that will offer an open space floor plan, which will allow for a more cohesive and collaborative environment to meet the needs our current and future staff.”
Grossman added, “951 Yamato was well suited for the tenant’s need with its large floor plates. In addition, the ability to find large blocks of office space to accommodate headquarter-sized tenants in Boca Raton is diminishing. The few that can be found are priced at the top of the market, located in less convenient areas, and many lack modern, Class-A features and amenities. 951 Yamato recently completed a million-dollar, environmentally friendly property improvement program to ensure that it remained a first-choice for large office space users. With the signing of the TherapeuticsMD lease and other recent leases, the building is now 89% leased.”
Current plans are to build-out two additional spec suites to be delivered in the first quarter of 2019, and a 2,000-square-foot conference center for the use of all 951 Yamato tenants.
Convey Health Solutions, a national provider of health insurance services and technology, is relocating its 500-person Miramar office to MPC-30, the newest building in Sunbeam Properties’ Miramar Park of Commerce.
Convey Health Solutions, which will move from another building within the Park, will occupy 47,819 sq. ft. in MPC-30, a 70,948 sq.-ft. spec office/flex building located at 3140-3188 Executive Way. Convey’s custom build-out of the space in MPC-30 is slated for completion in March.
“Convey chose MPC-30 in order to build out a facility that aligned with the company’s brand and goal to provide a superior work environment for team members,” said JLL Executive Vice President and National Director Ryan Nunes, who represented Convey Health Solutions in the transaction. “We worked closely with Convey and Sunbeam to structure a creative transaction that met Convey’s short- and long-term goals and provided flexibility to excel in an ever-changing business landscape.”
Convey Health Solutions maintains more than 1,500 employees who provide more than eight million Medicare beneficiaries with access to the healthcare services they require. Additionally, the company manages large-scale health insurance processes for clients regionally and nationally.
“One of the many advantages of the Park is that we can make quick decisions at the local level which is important, particularly for companies like Convey Health Solutions that are looking to customize their space based on their business needs,” said Sunbeam Properties Vice President Maridee Bell, who along with Leasing Associate Lauren Pace, represented the Park in the transaction. “With new buildings like MPC-30 and more than 2 million sq. ft. of existing flex and office space, Sunbeam can efficiently and successfully accommodate the diverse needs of a variety of current and future tenants.”
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 STAFF2018-11-26 03:22:232018-11-26 03:22:23Convey Health Solutions Upgrades To 48,000 SF Space
Office Depot HQ Site Sells For $33 Million
/in Done Deals, News/by SFOBA STAFFAvison Young Principal Keith O’Donnell completed three transactions totaling $33 million on behalf of Investors Warranty of America to sell a 42.7-acre property in Delray Beach. The site is the former Office Depot headquarters at S. Congress Avenue and Old Germantown Road.
The property was divided into three parcels and sold to three South Florida development groups which joined together to create a new mixed-use project. Centerpointe Delray Holdings, a partnership between Miami-based firms 13th Floor Investments and Key International and Boca Raton-based CDS International Holdings, plans to build more than 600 multifamily units. Separately, CDS, which also owns The Arbors office building on the northeast corner of the site, plans to develop retail and office components. The project will be anchored by a 1.8-acre park with jogging and bike trails to connect to the 25-acre Delray Natural Oaks Preserve.
The Delray Beach City Commission unanimously approved the master plan and will collaborate with the developers on the project. Four- and five-story apartment buildings and two- and three-story townhouse buildings are planned. The retail and restaurant space will be near the S. Congress Avenue and Old Germantown Road intersection.
O’Donnell’s history with the property, which dates back to its days of IBM’s occupancy through Office Depot’s growth to a global enterprise, played a significant role in Investors Warranty’s selection of Avison Young to lead the sale.
Cresa Recognized As Best Commercial Real Estate Brokerage Firm In South Florida
/in News/by SFOBA STAFFThe winners of the eighth annual Daily Business Review “Best Of 2018” readers’ poll were recently revealed and Cresa was ranked the Best Commercial Real Estate Brokerage Firm (Office) in South Florida.
The annual poll, wherein DBR readers cast their votes for the best legal and real estate companies in the Florida market, “showcases the businesses that stand out among their competitors in providing the essentials required to compete in today’s market,” according to the publication. Cresa was also recognized in the DBR’s “Best Of 2017” poll as the second Best Commercial Real Estate Brokerage Firm (Office).
Cresa’s Miami and Fort Lauderdale offices track office and industrial space and trends in the South Florida market, which includes Miami-Dade, Broward and Palm Beach counties. This three-county metropolitan area, also known as the “Gateway to the Americas,” is recognized worldwide as a top international center for commerce and trade and is home to over 1,300 multinational companies from 56 countries. Cresa South Florida specializes in strategic planning, occupier representation, site selection, and sales and dispositions. They also assist with logistics and supply chain management for a wide variety of industrial clients, including distribution and manufacturing companies.
The South Florida team includes (in alphabetical order by last name):
• Glen Carpenter-Vice President/Project Management
• Monica Cornejo-Senior Advisor
• Caroline Fleischer-Managing Principal, Market Leader
• Jeff Hartsook-Principal
• Ryan Hubbard-Senior Advisor
• Glenn Olson-Principal/Project Management
• Zach Talbot-Principal
• Diane White-Business Manager
• Patrick Willis-Vice President
The Cresa South Florida Industrial Team recently completed 7 transactions on behalf of its clients. Hartsook, Willis, and Hubbard represented Consolidated Electrical Distributors, UniFirst in 2 locations, Flamingo Oil/ShopServ, Anixter, CED Greentech, and Ready 2 Transport. The deals completed reflect over 200,000 square feet of industrial space and a value of over $8,000,000.
Cresa’s conflict-free business model is central to its position as the world’s most trusted occupier-centric commercial real estate firm, according to the firm.
Tech Firm Moves HQ To Newly-Constructed Miramar Tech Center, 2 Additional Tenants Ink Deals
/in Done Deals, News/by SFOBA STAFFBlanca Commercial Real Estate announced its completion of two lease transactions totaling 13,536 square feet at the Miramar Tech Center, located at 2900 Monarch Lakes Blvd. in Miramar. The news follows the recent occupancy of United Data Technologies into the three-story Class A office building offering approximately 56,710 rentable square feet.
The leases include new tenant 03b Networks (7,011 sf), a subsidiary of SES Networks and the world-leading satellite operator with over 50 satellites in geostationary Earth orbit and 16 in medium Earth orbit, which was represented by Juan Jaramillo of FGI Realty; and the University of Florida’s Warrington’s College of Business (6,525 sf) represented by Franklin Street’s Tom Farmer.
They join recent occupant and building owner UDT (21,155 sf), a technology enabler that helps clients in major industries evaluate, architect, secure and manage technology in mobile, on premise and in the cloud.
The Tech Center is located in the heart of Miramar and boasts full generator backup power, wind-rated impact glass, electric car charging stations, dual HVAC chillers, heavy power and multiple telecommunication carriers and feeds to ensure redundancy and business continuity. The building is also hardened for hurricane resistance and offers high-end conferencing facilities and garage parking of 5.3 per 1,000 square feet.
Medical Air Transport Company Moves HQ To Broward
/in Done Deals, News/by SFOBA STAFFAfter recently moving its worldwide headquarters to Fort Lauderdale from outh Lake, Texas, medical air transportation company MASA Global has acquired an office building in Plantation for $12.85 million.
Cornerstone Condominium Investors, managed by Stacey Vogel, sold the 61,362-square-foot office building at 1250 S. Pine Island Road to MASA Property Management, an affiliate of MASA Global. (MASA stands for Medical Air Services Association.) The buyer received a $10.5 million mortgage from Valley National Bank.
The price equated to $209 a square foot.
The office building was constructed on the 2.1-acre site in 2008. It’s just north of busy Interstate 595.
MASA Global’s interest in Broward County was revealed in April 2017, when the Business Journal wrote that the company – under the name “Project Bogey” – filed a job growth incentive application to open an office in Fort Lauderdale. At the time, its headquarters were in South Lake, Texas.
State records show that, in August 2017, MASA Global was approved for up to $210,000 in Qualified Target Industry (QTI) incentives from the state and local governments, should it meet the goal of creating 35 jobs in Broward with an average wage of $71,789. Those jobs must be maintained through 2022.
Maggie Gunther, spokesperson for the Greater Fort Lauderdale Alliance, which helped MASA Global reach the QTI deal, said the project was approved for Fort Lauderdale and no incentives have been paid out to date.
On its website, MASA Global’s worldwide headquarters is now listed as 101 N.E. Third Ave., Suite 1600 in Fort Lauderdale. It still has a membership office in South Lake, Texas. The company has over 1 million members worldwide who depend on it to fly them to medical centers for emergency care. Many of its satellite offices are in Latin America and the Caribbean, which are easily reachable through South Florida airports.
Source: SFBJ
Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal
/in Done Deals, News/by SFOBA STAFFNAI/Merin Hunter Codman, Inc. announced that it completed one of the largest office lease transactions in Palm Beach County this year with TherapeuticsMD, Inc., which signed a 56,212-square-foot lease at 951 Yamato.
Jay M. Grossman, President and Director, and Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC.
Molly McDonough, Senior Vice-President of Butters Realty & Management, represented the tenant in the transaction.
The long-time Boca Raton-based pharmaceutical firm received three FDA product approvals since May and has outgrown its 32,000-square-foot location at 6800 Broken Sound Parkway NW, also in Boca Raton.
Current plans are to build-out two additional spec suites to be delivered in the first quarter of 2019, and a 2,000-square-foot conference center for the use of all 951 Yamato tenants.
Convey Health Solutions Upgrades To 48,000 SF Space
/in Done Deals, News/by SFOBA STAFFConvey Health Solutions, a national provider of health insurance services and technology, is relocating its 500-person Miramar office to MPC-30, the newest building in Sunbeam Properties’ Miramar Park of Commerce.
Convey Health Solutions, which will move from another building within the Park, will occupy 47,819 sq. ft. in MPC-30, a 70,948 sq.-ft. spec office/flex building located at 3140-3188 Executive Way. Convey’s custom build-out of the space in MPC-30 is slated for completion in March.
Convey Health Solutions maintains more than 1,500 employees who provide more than eight million Medicare beneficiaries with access to the healthcare services they require. Additionally, the company manages large-scale health insurance processes for clients regionally and nationally.