C. Talanian Realty Co. has purchased Peninsula Executive Center, an office development in Boca Raton, for $59.8 million.
The 187,784-square-foot, Class A office property, located at 2381 and 2385 Executive Center Drive, consists of two four-story office buildings and a 742-space parking structure.
The property is currently 97 percent leased and is anchored by Newell Brands.
HFF, led by Chris Drew, Hermen Rodriguez, Ike Ojala, Brian Gaswirth and Matthew McCormack marketed the property on behalf of the undisclosed seller. HFF also secured $33.5 million in long-term, fixed-rate acquisition financing through Principal Real Estate Investors on behalf of C. Talanian Realty.
Riviera Point Development Group has completed construction of a 72,000-square-foot office building in Miramar.
The building, Riviera Point Corporate Center, is one of the few new suburban office buildings completed in this real estate cycle in South Florida. Riviera Point used foreign capital to finance construction of the project located in one of the nation’s most desirable suburban office markets, according to a study by Boyd Co.
The Riviera Point’s development underlines a growing demand for Class A office space in the suburbs and the influential role that foreign capital is playing in reshaping South Florida’s suburbs. In the past, Riviera Point raised foreign capital to build Riviera Point Business Center at Doral in 2016 and Professional Center at Riviera Point in Miramar in 2015.
Riviera Point partially funded construction of the new five-story office building, at 2750 SW 145th Avenue, through the EB-5 investor visa program. Under the federal program, foreign investors and their families can obtain a green card if they invest at least $500,000 in job-creating projects in the US. The firm, one of the region’s most prolific EB-5 developers, raised $15 million from 30 investors mainly from Latin America to build Riviera Point Corporate Center. Since 2012, Riviera Point has raised more than $53 million in EB-5 capital in South Florida, crated 1,120 jobs and enabled more than 170 foreign families to obtain the US residency.
“We build suburban office buildings to meet the needs of the bustling business communities expanding west of South Florida’s largest urban cores,” said Riviera Point CEO Rodrigo Azpúrua. “In the absence of a comprehensive mass transit system in our region, employers are responding to road congestion by moving their offices closer to their employees’ homes. Foreign investors see the upside of serving that sector of our community and are eager to provide capital for us to build Class A suburban office buildings.”
Blanca Commercial Real Estate is handling leasing for Riviera Point Corporate Center.
As construction of Riviera Point Corporate Center concludes, Mr. Azpúrua will focus on construction of the Radisson Red Miami Airport in suburban Miami. The 155-room hotel is partially funded with $11.5 million raised from EB-5 investors. The upscale select services hotel broke ground early this year and is scheduled for completion in early 2018.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-06-18 22:08:522017-06-18 22:08:52EB-5 Developer Delivers Class A Office In Tight Miramar Market
Executive University Courts, a 97,125-square-foot office campus in Broward County, has sold.
Cushman & Wakefield Managing Director Dominic Montazemi, Senior Associate Greg Miller and Executive Director Scott O’Donnell represented Kas University LLC in the disposition.
MYP Executive, LLC acquired the asset for $9.3 million, or $96 per square feet.
Executive University Courts comprises six, two-story inter-connected office buildings built in 1987. The buildings’ garden layout offers private tenant access to suites from a lushly landscaped courtyard with a tranquil water feature. Ownership’s modest capital improvements in the buildings have helped push occupancy from 50.0 percent to 84.1 percent in just three years.
Executive University Courts sits on a 5.9-acre site at 4300 North University Drive in central Broward County. This highly visible location is easily accessible via Florida’s Turnpike and the Sawgrass Expressway.
“The property’s visibility and above-average parking, as well as the strong population density in the immediate submarket, are tremendous demand drivers for potential tenants,” said Montazemi. “The layout of the buildings also provides tenants direct access to their suites and an enhanced level of privacy.”
“There is also significant potential to capture additional medical tenancy,” added Montazemi, noting there are four hospitals with over 1,000 beds within four miles of the campus. “Given the asset’s proximity to local hospitals, private access to suites, and restrooms within the tenant spaces, there is a strong case for adding value by strategically leasing additional space to medical-related tenants.”
As part of its continued strategic South Florida growth and expansion plans, Cresa announced it has appointed Stephanie Katona as Regional Business Manager.
Prior to joining Cresa, Ms. Katona had been with Cushman & Wakefield for seven years in the firm’s Midtown Manhattan world headquarters. During her seven year tenure at Cushamn & Wakefield, Ms. Katona was instrumental in the success of a number of major transactions, including but not limited to high profile deals on Fifth Avenue, in Times Square and in Lower Manhattan. In total, her team was responsible for approximately 1.9 million square feet of leasing, with a transaction value of $4.5 billion. She brings a wealth of operational and transactional knowledge to Cresa, making Ms. Katona a key hire in the company’s growth in the South Florida region.
This latest announcement comes shortly after Cresa announced the hiring of industry vet Glenn Olson, the opening of its new Ft. Lauderdale office, and robust growth and expansion plans for the firm in South Florida.
“South Florida is and will continue to be one of the most important markets for our firm globally,” stated Cresa CEO Jim Underhill. “Continually adding top-notch talent as we have done here with Stephanie and all the recent key hires in South Florida is only the start for us, as we plan to be strategic, diligent, and committed to a long-term South Florida presence,” added Underhill.
“Cresa is selectively seeking office and industrial talents in the South Florida region with plans to double the number of quality brokers by end of 2018,” added Caroline Fleischer.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-05-15 01:25:312017-05-15 01:25:31Cresa Announces Appointment Of Regional Business Manager
Special thanks to Laurel Oswald, Jon Blunk and Joody Andre at Tower Commercial Real Estate for a great lunch, some amazing views and a super presentation by Jenni Morejon of the Downtown Development Authority. Tower hosted our May 11 meeting at the Tower Club at One Financial Plaza.
If you missed the presentation, shame on you. The good news is that we have Jenni’s presentation here on the blog. The bad news is that I wasn’t able to save you a piece of cheesecake.
Some of the highlights:
Over $2 Billion in post-recession investment is either planned, completed or under construction in the CBD. This includes the new 750,000 sf County Courthouse, 11,200 residential units, 1.5 million sf of office, 433,000 sf of retail and 1,200 hotel rooms. In addition, the new wave streetcar project is in the works with service to start in 2020.
While supply will be increasing with the new development, strong demand has driven residential rental rates up by 40% over the past five years and Class-A office rental rates are up by $4 over the past 12 months.
We are looking forward to more on the CBD market next month when Stiles presents details on their new downtown mixed use project.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-05-14 21:53:522017-05-14 21:53:52May Recap – Downtown Fort Lauderdale Riding Wave of New Development
With a continued focus on expanding across all disciplines and growing its South Florida capabilities, Colliers International South Florida announced the addition of commercial real estate brokers Russell Bornstein and Michael Wilson.
With nearly 60 years of combined industry experience, the team will specialize in retail and office brokerage, respectively, and bring additional value by collaborating to service clients with mixed requirements in South Florida.
“Russell and Michael have both earned a reputation for service excellence,” said Ken Krasnow, Executive Managing Director & Market Leader of Colliers International South Florida. “Bringing them on board highlights our commitment to wholistic real estate solutions. As the real estate markets in South Florida continue to develop and mature, we are continually seeing occupiers with mixed-use requirements and we are stepping up to provide market solutions and expertise as diverse as the clients and requirements we work with.”
As long-time exclusive representatives for Wells Fargo and its approximate 250 branches in Southeast Florida, Bornstein and Wilson have provided steady and strategic commercial real estate advisory to the financial services company through various mergers over their 20 year relationship, including their real estate needs after they acquired Wachovia in the largest financial institution merger on record. Additionally, they have represented clients such as Brandsmart, Regions Bank, and Chase.
Both industry veterans have been with CBRE since 2012.
Industry veteran Bornstein has been involved in the ground-floor launch of numerous national retail tenants such as Blockbuster Video, Einstein’s Bagels and Boston Chicken. His experience comes from brokering notable transactions such as the 44,000 sq. ft. Coral Gables headquarters and branch of the original BankUnited as well as the sale of Plantation Crossing Shopping Center to an entity affiliated with Beth Azor of Azor Advisory Services. Additionally, he is an active member of the International Council of Shopping Centers and a Board Member for the Wayne Barton Study Center in Boca Raton.
On the office side, Wilson has represented major players across Palm Beach, Broward and Miami-Dade Counties throughout his career. He provides brokerage services to owners, landlords and occupiers of office properties, and has represented clients such as TIAA, Ernst & Young, Invesco and Morgan Stanley, among others. He is an active member within the local chapter of NAIOP, the National Association of Industrial and Office Properties.
“I’m excited to again work with Ken Krasnow and the professionals at Colliers. I have had the opportunity to work with several of them over the course of my career and I look forward to collaborating with them again in our shared pursuit,” added Russell Bornstein.
Bornstein holds a Bachelors Degree in Business Administration from St. Bonaventure University and Wilson earned a Bachelor of Science in Finance from Pennsylvania State Unversity.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-05-07 18:56:232017-05-07 18:56:23Seasoned Commercial Real Estate Duo Joins Colliers International South Florida
Class A Boca Office Property Fetches $60 Million
/in Done Deals, News/by SFOBA STAFFC. Talanian Realty Co. has purchased Peninsula Executive Center, an office development in Boca Raton, for $59.8 million.
The 187,784-square-foot, Class A office property, located at 2381 and 2385 Executive Center Drive, consists of two four-story office buildings and a 742-space parking structure.
The property is currently 97 percent leased and is anchored by Newell Brands.
HFF, led by Chris Drew, Hermen Rodriguez, Ike Ojala, Brian Gaswirth and Matthew McCormack marketed the property on behalf of the undisclosed seller. HFF also secured $33.5 million in long-term, fixed-rate acquisition financing through Principal Real Estate Investors on behalf of C. Talanian Realty.
Source: RE Business
EB-5 Developer Delivers Class A Office In Tight Miramar Market
/in News/by SFOBA STAFFRiviera Point Development Group has completed construction of a 72,000-square-foot office building in Miramar.
The building, Riviera Point Corporate Center, is one of the few new suburban office buildings completed in this real estate cycle in South Florida. Riviera Point used foreign capital to finance construction of the project located in one of the nation’s most desirable suburban office markets, according to a study by Boyd Co.
The Riviera Point’s development underlines a growing demand for Class A office space in the suburbs and the influential role that foreign capital is playing in reshaping South Florida’s suburbs. In the past, Riviera Point raised foreign capital to build Riviera Point Business Center at Doral in 2016 and Professional Center at Riviera Point in Miramar in 2015.
Riviera Point partially funded construction of the new five-story office building, at 2750 SW 145th Avenue, through the EB-5 investor visa program. Under the federal program, foreign investors and their families can obtain a green card if they invest at least $500,000 in job-creating projects in the US. The firm, one of the region’s most prolific EB-5 developers, raised $15 million from 30 investors mainly from Latin America to build Riviera Point Corporate Center. Since 2012, Riviera Point has raised more than $53 million in EB-5 capital in South Florida, crated 1,120 jobs and enabled more than 170 foreign families to obtain the US residency.
Blanca Commercial Real Estate is handling leasing for Riviera Point Corporate Center.
As construction of Riviera Point Corporate Center concludes, Mr. Azpúrua will focus on construction of the Radisson Red Miami Airport in suburban Miami. The 155-room hotel is partially funded with $11.5 million raised from EB-5 investors. The upscale select services hotel broke ground early this year and is scheduled for completion in early 2018.
Broward Office Campus Changes Hands
/in Done Deals, News/by SFOBA STAFFExecutive University Courts, a 97,125-square-foot office campus in Broward County, has sold.
Cushman & Wakefield Managing Director Dominic Montazemi, Senior Associate Greg Miller and Executive Director Scott O’Donnell represented Kas University LLC in the disposition.
MYP Executive, LLC acquired the asset for $9.3 million, or $96 per square feet.
Executive University Courts comprises six, two-story inter-connected office buildings built in 1987. The buildings’ garden layout offers private tenant access to suites from a lushly landscaped courtyard with a tranquil water feature. Ownership’s modest capital improvements in the buildings have helped push occupancy from 50.0 percent to 84.1 percent in just three years.
Executive University Courts sits on a 5.9-acre site at 4300 North University Drive in central Broward County. This highly visible location is easily accessible via Florida’s Turnpike and the Sawgrass Expressway.
Cresa Announces Appointment Of Regional Business Manager
/in News/by SFOBA STAFFAs part of its continued strategic South Florida growth and expansion plans, Cresa announced it has appointed Stephanie Katona as Regional Business Manager.
Prior to joining Cresa, Ms. Katona had been with Cushman & Wakefield for seven years in the firm’s Midtown Manhattan world headquarters. During her seven year tenure at Cushamn & Wakefield, Ms. Katona was instrumental in the success of a number of major transactions, including but not limited to high profile deals on Fifth Avenue, in Times Square and in Lower Manhattan. In total, her team was responsible for approximately 1.9 million square feet of leasing, with a transaction value of $4.5 billion. She brings a wealth of operational and transactional knowledge to Cresa, making Ms. Katona a key hire in the company’s growth in the South Florida region.
This latest announcement comes shortly after Cresa announced the hiring of industry vet Glenn Olson, the opening of its new Ft. Lauderdale office, and robust growth and expansion plans for the firm in South Florida.
May Recap – Downtown Fort Lauderdale Riding Wave of New Development
/in News, Trends/by SFOBA STAFFSpecial thanks to Laurel Oswald, Jon Blunk and Joody Andre at Tower Commercial Real Estate for a great lunch, some amazing views and a super presentation by Jenni Morejon of the Downtown Development Authority. Tower hosted our May 11 meeting at the Tower Club at One Financial Plaza.
If you missed the presentation, shame on you. The good news is that we have Jenni’s presentation here on the blog. The bad news is that I wasn’t able to save you a piece of cheesecake.
Some of the highlights:
Over $2 Billion in post-recession investment is either planned, completed or under construction in the CBD. This includes the new 750,000 sf County Courthouse, 11,200 residential units, 1.5 million sf of office, 433,000 sf of retail and 1,200 hotel rooms. In addition, the new wave streetcar project is in the works with service to start in 2020.
While supply will be increasing with the new development, strong demand has driven residential rental rates up by 40% over the past five years and Class-A office rental rates are up by $4 over the past 12 months.
We are looking forward to more on the CBD market next month when Stiles presents details on their new downtown mixed use project.
Seasoned Commercial Real Estate Duo Joins Colliers International South Florida
/in News/by SFOBA STAFFWith a continued focus on expanding across all disciplines and growing its South Florida capabilities, Colliers International South Florida announced the addition of commercial real estate brokers Russell Bornstein and Michael Wilson.
With nearly 60 years of combined industry experience, the team will specialize in retail and office brokerage, respectively, and bring additional value by collaborating to service clients with mixed requirements in South Florida.
As long-time exclusive representatives for Wells Fargo and its approximate 250 branches in Southeast Florida, Bornstein and Wilson have provided steady and strategic commercial real estate advisory to the financial services company through various mergers over their 20 year relationship, including their real estate needs after they acquired Wachovia in the largest financial institution merger on record. Additionally, they have represented clients such as Brandsmart, Regions Bank, and Chase.
Both industry veterans have been with CBRE since 2012.
Industry veteran Bornstein has been involved in the ground-floor launch of numerous national retail tenants such as Blockbuster Video, Einstein’s Bagels and Boston Chicken. His experience comes from brokering notable transactions such as the 44,000 sq. ft. Coral Gables headquarters and branch of the original BankUnited as well as the sale of Plantation Crossing Shopping Center to an entity affiliated with Beth Azor of Azor Advisory Services. Additionally, he is an active member of the International Council of Shopping Centers and a Board Member for the Wayne Barton Study Center in Boca Raton.
On the office side, Wilson has represented major players across Palm Beach, Broward and Miami-Dade Counties throughout his career. He provides brokerage services to owners, landlords and occupiers of office properties, and has represented clients such as TIAA, Ernst & Young, Invesco and Morgan Stanley, among others. He is an active member within the local chapter of NAIOP, the National Association of Industrial and Office Properties.
Bornstein holds a Bachelors Degree in Business Administration from St. Bonaventure University and Wilson earned a Bachelor of Science in Finance from Pennsylvania State Unversity.