Phillips Point continues to enjoy a historically high occupancy rate with $46.5 million in recent leasing transactions.
Taylor & Mathis Principal Brian Gale has secured four leases totaling 65,600 square feet, with additional deals in the works.
In a new to market deal, Connecticut based Wexford Capital signed a 7,400 lease. The $4.5 million deal was co-brokered by Neil Merin and Shelbi Quinn of NAI/Merin Hunter Codman. The towers have received strong interest from Northeast based hedge fund and wealth management firms like Wexford. “These types of firms are choosing South Florida because of lower taxes and beautiful weather,” said Taylor & Mathis Principal Brian Gale.
ESPN radio West Palm office of Good Karma Brands will be relocating to Phillips Point Tower, having signed a one million dollar lease for 4,635 square feet. “Phillips Point continues to attract the highest quality tenants in the market, with its unparalleled views and quality of ownership,” said Gale.
The key testament to Phillips Point’s iconic stature in the market is the tenants choosing to stay at the property. In the last couple of years, Taylor & Mathis has reported nearly 150,000 square feet in renewals and expansions, with heavy weight tenants, such as Gunster and Morgan Stanley. This year has seen two notable renewals. International law firm, Greenberg Traurig, LLP signed an early renewal for an additional 13 years at the property, signing a 30,254 square foot lease for their West Palm Beach office. Co-broker Jon Bourbeau of Newmark Grubb Knight Frank represented the law firm in the deal valued at $23 million.
AMG Properties has more than doubled the size of their offices signing a 12,805 square foot expansion along with a 10,518 square foot renewal. Co-broker Darren Goldstein of Virtual Global Realty represented the real estate management firm in the 23,323 square foot, $18 million deal. “We anticipate seeing additional growth from them yet this year,” stated Gale.
“These tenants conducted extensive due diligence during their search for office space before signing leases at Phillips Point,” stated Gale.
The building is home to internationally recognized tenants including, Gunster, Squire Sanders, Goldman Sachs and Akerman.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-08-13 21:02:312014-08-13 21:02:31Taylor & Mathis Inks 65,000 SF At Phillips Point
by Reese Stigliano
Following the money, based on per square foot prices, here is a countdown of the most expensive commercial real estate transactions in South Florida so far this summer.
So…“Where is the crazy money going?”
Here’s the countdown:
5. Federal Government Leased Building: A 35,737 sq.ft. building located at 2805 SW 145th Street in Miramar which is leased to the U.S. Immigration and Customs Enforcement Office (ICE) sold for $13.14 million or $367 per square foot.
4. Retail Strip Centers: Restaurant anchored and Class A located retail demanding top dollar: A 33,469 retail strip center located at 1451-1535 North Federal Highway in Fort Lauderdale sold for $13.8 million or $412 per square foot. In addition, a brand new 19,403 sq.ft. restaurant anchored, strip center located at 6300 North Andrews Avenue sold for $11 million or $566 per square foot.
3. Medical Office Building: A 22,110 sq.ft. building located at 501 West Glades Road, Boca Raton, FL sold for $13.8 million or $624 per square foot.
2. Free Standing Drug Stores: A 15,792 sq.ft. Walgreens built in 2009 located at 12711 Quail Roost Drive, Miami, FL sold for $10.15 million or $634 per square foot.
1. Free Standing Bank Branches: Breaking the $1,000 per square foot barrier: In the month of July, there were three recent TD Bank branch sales:
TD Bank located at 1701 East Sunrise Blvd. in Fort Lauderdale totaling 4,698 sq.ft. sold for $5.32 million or $1,133 per square foot.
TD Bank located at 3600 North Federal Highway Lighthouse Point totaling 3,439 sq.ft. sold for $5 million or $1,453 per square foot.
TD Bank located at 1800 North Pine Island Road in Plantation totaling 3,539 sq.ft. sold for $5.33 million or $1,506 per square foot.
CBRE has been selected as the exclusive leasing agent for 200 East Broward Boulevard, a landmark, Class A, 225,650-square-foot office tower located in Fort Lauderdale’s Central Business District, according to a release.
The property was recently acquired by Realty Associates Fund X LP, a company linked to Boston-based institutional investor TA Associates Realty LLC, making it the fourth office property to trade in the downtown submarket in the past 12 months.
The new owner will embark on an impressive renovation program for 200 East Broward to capitalize on robust market fundamentals and growing demand for high-quality office space downtown.
Downtown Fort Lauderdale’s office market is performing strongly, with 387,000 square feet of positive absorption over the last year and a half, bringing vacancy down to a pre-recession low of 13.6% (Q2 2014). Since 2011, CBRE has tracked 27 tenants totaling 375,000 square feet that have relocated from the suburbs to the CBD, and projects 32% market rent growth in Fort Lauderdale over the next five years.
“Ideally located in the heart of the ‘live-work-play’ environment of downtown Fort Lauderdale, 200 East Broward is well positioned to capitalize on Fort Lauderdale’s growth spurt and, under the ownership’s new vision and leadership, solidify its position as one of the most desirable office properties in the downtown market,” said CBRE Senior Vice President Deanna Lobinsky.
The 1992-built, 21-story office tower is prominently located at the intersection of Broward Boulevard and SE 3rd Avenue.
The Energy Star-rated project provides for retail and bank space on the ground and mezzanine floors, and eight stories of parking, with the office space on floors nine through 21. Additionally, the property features an attached 9-story parking garage, built in 2002, which combined with the pedestal garage provides for a 2.4 per 1,000 SF parking ratio.
The property is nearly 88% occupied, with tenants including Greenspoon Marder, PNC Bank and Shutts & Bowen.
CBRE’s Jarred Goodstein and Avi Fisher are collaborating with Lobinsky in representing 200 East Broward Boulevard.
https://sfoba.com/wp-content/uploads/2012/02/200-east-broward.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-08-06 18:31:502014-08-06 18:31:50Deanna Lobinsky Tapped To Lease 200 East Broward
Jim Knight led the $20 million sale of a mixed-use assemblage that brokers say is downtown Delray Beach’s largest commercial real estate transaction in about a decade.
It closed July 14.
The veteran broker and head of the Knight Group LLC has been doing business from offices in downtown Delray Beach for more than 20 years.
So when Sundy Estates LC wanted to sell an iconic property in the heart of a city tempering history and development, Knight helped ink a record deal to strengthen the economic pulse around the 112-year-old piece of real estate operating as a restaurant, inn and botanical garden.
The deal included the John and Elizabeth Shaw Sundy House and more than 20 parcels along two blocks on both sides of Swinton Avenue between “It was very complex,” said Knight, who will work with the buyer as exclusive agent for the planned mixed-use project, Sundy Lane. “You had a large tract of land with an income-producing hotel, restaurant and other buildings. And you also had vacant land and entitlements that we had to get done.”
Sundy House is the oldest residence in Delray Beach. It’s evolved with the city and earned a listing on the National Register of Historic Places in 1992, about six years before a major restoration to remodel and expand the site.
“Whenever you’re working with a property in the historic district, there’s a lot of emotion involved,” Knight said.
Working the deal meant treading political water and securing new entitlements for the historic corridor that drew strong interest from preservationists. During a public comment session before the City Commission, about 100 speakers showed up to speak both for and against the redevelopment. As the commercial brokerage consultant, Knight was part of a team that helped win the commission’s approval for a central business district overlay that allows expanded commercial uses and construction of up to 38 units per acre.
The approval meant a developer could expand commercial uses, strengthen returns on the investment property and configure uses to preserve the historic landmark.
It took about a year from start to closing.
The buyer was Delray Beach-based Hudson Holdings LLC, which will serve as master developer on a project to add 130 hotel rooms, Class A office space, covered walkways, parking and about 60,000 square feet of retail.
“The sale is significant,” Knight said. “It will raise the value for commercial real estate in downtown Delray Beach.”
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-07-31 03:42:122014-07-31 03:42:12$20M Delray Beach Sale Biggest Downtown RE Deal In A Decade
One of the largest privately held real estate advisers in the U.S. has acquired two prime office properties along Broward Boulevard in the heart of Fort Lauderdale’s business district.
Realty Associates Fund X LP, a real estate investment trust, paid $66.4 million for the downtown office towers at 203 SE First St. and 200 E. Broward Blvd., according to a deed recorded Friday. The building is home to multiple law firms, including Shutts & Bowen and Weiss Serota Helfman Pastoriza Cole & Boniske.
The buyer is linked to Boston-based TA Associates Realty LLC, which manages 91 million square feet of commercial real estate and 12,300 residential units in 35 markets nationwide. This deal gives it control of more than 540,000 square feet of prime office space.
One of the biggest tenants, Greenspoon Marder, moved nearly 100 lawyers into the building from the Cypress Creek area. In November, Greenspoon leased 64,964 square feet, expanding from one to four full floors and giving a strong boost to office absorption along the Broward Boulevard corridor.
The sale represented a gain for the seller, VV USA City LP, a German closed-end investment fund, which paid just under $44 million for the towers in separate transactions in 1998 and 1999, yielding a 51 percent return on the deal.
TA Associates Realty has selected Miami-based management, brokerage and advisory firm Pointe Group Advisors as the property manager for the building.
“Given our proven track record of performance and success in servicing assets in Broward’s suburban markets, our team is very excited about the opportunity to bring our award-winning property management platform into Fort Lauderdale’s central business district with the assignment at 200 Broward,” said Alfie Hamilton, Vice President of Pointe Group Advisors. “We look forward to executing the new ownership’s vision for the numerous capital improvement projects that will be undertaken to modernize the building so that it can compete with the newer product on Las Olas. Our team is committed to creating a tenant-friendly environment with our high-tech, high-touch approach of management, as well as assisting the leasing team all in an effort to maximize the value of 200 Broward.”
A pair of office buildings in Boca Raton were acquired at a 44-percent discount to their previous sale.
TIAA took a hit on both properties.
After paying $62.15 million the North 40 pair in 2006, it sold the office buildings at 5201 Congress Ave. and 901 W. Yamato Road for a combined $35 million.
They were acquired by Mainstreet CV North 40 LLC, an affiliate of Fort Lauderdale-based Mainstreet Capital Partners, led by Paul J. Kilgallon. Bank of America provided a $26 million mortgage to the buyer.
According to Mainstreet Capital Partners’ website, it owns more than 6.2 million square feet of offices across the country.
The building on Congress Avenue totals 222,136 square feet on 17.1 acres. An online listing says 101,316 square feet is available for lease there with an asking rate of $13.50 per square foot.
Sitting on 10 acres, the building on West Yamato Road totals 160,817 square feet. According to an online listing, it has 12,500 square feet available for lease with an asking rate of $13.50 per square foot. The building was formerly the headquarters of Medical Staffing Network, which was recently acquired by Cross Country Healthcare.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-07-24 01:34:412014-07-24 01:34:41Mainstreet Picks Up North 40 Office Buildings
Taylor & Mathis Inks 65,000 SF At Phillips Point
/in Done Deals, News/by SFOBA STAFFPhillips Point continues to enjoy a historically high occupancy rate with $46.5 million in recent leasing transactions.
Taylor & Mathis Principal Brian Gale has secured four leases totaling 65,600 square feet, with additional deals in the works.
In a new to market deal, Connecticut based Wexford Capital signed a 7,400 lease. The $4.5 million deal was co-brokered by Neil Merin and Shelbi Quinn of NAI/Merin Hunter Codman. The towers have received strong interest from Northeast based hedge fund and wealth management firms like Wexford. “These types of firms are choosing South Florida because of lower taxes and beautiful weather,” said Taylor & Mathis Principal Brian Gale.
ESPN radio West Palm office of Good Karma Brands will be relocating to Phillips Point Tower, having signed a one million dollar lease for 4,635 square feet. “Phillips Point continues to attract the highest quality tenants in the market, with its unparalleled views and quality of ownership,” said Gale.
The key testament to Phillips Point’s iconic stature in the market is the tenants choosing to stay at the property. In the last couple of years, Taylor & Mathis has reported nearly 150,000 square feet in renewals and expansions, with heavy weight tenants, such as Gunster and Morgan Stanley. This year has seen two notable renewals. International law firm, Greenberg Traurig, LLP signed an early renewal for an additional 13 years at the property, signing a 30,254 square foot lease for their West Palm Beach office. Co-broker Jon Bourbeau of Newmark Grubb Knight Frank represented the law firm in the deal valued at $23 million.
AMG Properties has more than doubled the size of their offices signing a 12,805 square foot expansion along with a 10,518 square foot renewal. Co-broker Darren Goldstein of Virtual Global Realty represented the real estate management firm in the 23,323 square foot, $18 million deal. “We anticipate seeing additional growth from them yet this year,” stated Gale.
“These tenants conducted extensive due diligence during their search for office space before signing leases at Phillips Point,” stated Gale.
The building is home to internationally recognized tenants including, Gunster, Squire Sanders, Goldman Sachs and Akerman.
Where’s The Crazy Money Going?
/in Done Deals, News, Trends/by SFOBA STAFFby Reese Stigliano
Following the money, based on per square foot prices, here is a countdown of the most expensive commercial real estate transactions in South Florida so far this summer.
So…“Where is the crazy money going?”
Here’s the countdown:
5. Federal Government Leased Building: A 35,737 sq.ft. building located at 2805 SW 145th Street in Miramar which is leased to the U.S. Immigration and Customs Enforcement Office (ICE) sold for $13.14 million or $367 per square foot.
4. Retail Strip Centers: Restaurant anchored and Class A located retail demanding top dollar: A 33,469 retail strip center located at 1451-1535 North Federal Highway in Fort Lauderdale sold for $13.8 million or $412 per square foot. In addition, a brand new 19,403 sq.ft. restaurant anchored, strip center located at 6300 North Andrews Avenue sold for $11 million or $566 per square foot.
3. Medical Office Building: A 22,110 sq.ft. building located at 501 West Glades Road, Boca Raton, FL sold for $13.8 million or $624 per square foot.
2. Free Standing Drug Stores: A 15,792 sq.ft. Walgreens built in 2009 located at 12711 Quail Roost Drive, Miami, FL sold for $10.15 million or $634 per square foot.
1. Free Standing Bank Branches: Breaking the $1,000 per square foot barrier: In the month of July, there were three recent TD Bank branch sales:
Source: ReeseOnRealEstate
Deanna Lobinsky Tapped To Lease 200 East Broward
/in News/by SFOBA STAFFCBRE has been selected as the exclusive leasing agent for 200 East Broward Boulevard, a landmark, Class A, 225,650-square-foot office tower located in Fort Lauderdale’s Central Business District, according to a release.
The property was recently acquired by Realty Associates Fund X LP, a company linked to Boston-based institutional investor TA Associates Realty LLC, making it the fourth office property to trade in the downtown submarket in the past 12 months.
The new owner will embark on an impressive renovation program for 200 East Broward to capitalize on robust market fundamentals and growing demand for high-quality office space downtown.
Downtown Fort Lauderdale’s office market is performing strongly, with 387,000 square feet of positive absorption over the last year and a half, bringing vacancy down to a pre-recession low of 13.6% (Q2 2014). Since 2011, CBRE has tracked 27 tenants totaling 375,000 square feet that have relocated from the suburbs to the CBD, and projects 32% market rent growth in Fort Lauderdale over the next five years.
The 1992-built, 21-story office tower is prominently located at the intersection of Broward Boulevard and SE 3rd Avenue.
The Energy Star-rated project provides for retail and bank space on the ground and mezzanine floors, and eight stories of parking, with the office space on floors nine through 21. Additionally, the property features an attached 9-story parking garage, built in 2002, which combined with the pedestal garage provides for a 2.4 per 1,000 SF parking ratio.
The property is nearly 88% occupied, with tenants including Greenspoon Marder, PNC Bank and Shutts & Bowen.
CBRE’s Jarred Goodstein and Avi Fisher are collaborating with Lobinsky in representing 200 East Broward Boulevard.
$20M Delray Beach Sale Biggest Downtown RE Deal In A Decade
/in News/by SFOBA STAFFJim Knight led the $20 million sale of a mixed-use assemblage that brokers say is downtown Delray Beach’s largest commercial real estate transaction in about a decade.
It closed July 14.
The veteran broker and head of the Knight Group LLC has been doing business from offices in downtown Delray Beach for more than 20 years.
So when Sundy Estates LC wanted to sell an iconic property in the heart of a city tempering history and development, Knight helped ink a record deal to strengthen the economic pulse around the 112-year-old piece of real estate operating as a restaurant, inn and botanical garden.
The deal included the John and Elizabeth Shaw Sundy House and more than 20 parcels along two blocks on both sides of Swinton Avenue between “It was very complex,” said Knight, who will work with the buyer as exclusive agent for the planned mixed-use project, Sundy Lane. “You had a large tract of land with an income-producing hotel, restaurant and other buildings. And you also had vacant land and entitlements that we had to get done.”
Sundy House is the oldest residence in Delray Beach. It’s evolved with the city and earned a listing on the National Register of Historic Places in 1992, about six years before a major restoration to remodel and expand the site.
“Whenever you’re working with a property in the historic district, there’s a lot of emotion involved,” Knight said.
Working the deal meant treading political water and securing new entitlements for the historic corridor that drew strong interest from preservationists. During a public comment session before the City Commission, about 100 speakers showed up to speak both for and against the redevelopment. As the commercial brokerage consultant, Knight was part of a team that helped win the commission’s approval for a central business district overlay that allows expanded commercial uses and construction of up to 38 units per acre.
The approval meant a developer could expand commercial uses, strengthen returns on the investment property and configure uses to preserve the historic landmark.
It took about a year from start to closing.
The buyer was Delray Beach-based Hudson Holdings LLC, which will serve as master developer on a project to add 130 hotel rooms, Class A office space, covered walkways, parking and about 60,000 square feet of retail.
“The sale is significant,” Knight said. “It will raise the value for commercial real estate in downtown Delray Beach.”
Source: DBR
Downtown Fort Lauderdale Office Tower Trades, Pointe Group Advisors Awarded Management
/in Done Deals, News/by SFOBA STAFFOne of the largest privately held real estate advisers in the U.S. has acquired two prime office properties along Broward Boulevard in the heart of Fort Lauderdale’s business district.
Realty Associates Fund X LP, a real estate investment trust, paid $66.4 million for the downtown office towers at 203 SE First St. and 200 E. Broward Blvd., according to a deed recorded Friday. The building is home to multiple law firms, including Shutts & Bowen and Weiss Serota Helfman Pastoriza Cole & Boniske.
The buyer is linked to Boston-based TA Associates Realty LLC, which manages 91 million square feet of commercial real estate and 12,300 residential units in 35 markets nationwide. This deal gives it control of more than 540,000 square feet of prime office space.
One of the biggest tenants, Greenspoon Marder, moved nearly 100 lawyers into the building from the Cypress Creek area. In November, Greenspoon leased 64,964 square feet, expanding from one to four full floors and giving a strong boost to office absorption along the Broward Boulevard corridor.
The sale represented a gain for the seller, VV USA City LP, a German closed-end investment fund, which paid just under $44 million for the towers in separate transactions in 1998 and 1999, yielding a 51 percent return on the deal.
TA Associates Realty has selected Miami-based management, brokerage and advisory firm Pointe Group Advisors as the property manager for the building.
“Given our proven track record of performance and success in servicing assets in Broward’s suburban markets, our team is very excited about the opportunity to bring our award-winning property management platform into Fort Lauderdale’s central business district with the assignment at 200 Broward,” said Alfie Hamilton, Vice President of Pointe Group Advisors. “We look forward to executing the new ownership’s vision for the numerous capital improvement projects that will be undertaken to modernize the building so that it can compete with the newer product on Las Olas. Our team is committed to creating a tenant-friendly environment with our high-tech, high-touch approach of management, as well as assisting the leasing team all in an effort to maximize the value of 200 Broward.”
Source: DBR
Mainstreet Picks Up North 40 Office Buildings
/in Done Deals, News/by SFOBA STAFFA pair of office buildings in Boca Raton were acquired at a 44-percent discount to their previous sale.
TIAA took a hit on both properties.
After paying $62.15 million the North 40 pair in 2006, it sold the office buildings at 5201 Congress Ave. and 901 W. Yamato Road for a combined $35 million.
They were acquired by Mainstreet CV North 40 LLC, an affiliate of Fort Lauderdale-based Mainstreet Capital Partners, led by Paul J. Kilgallon. Bank of America provided a $26 million mortgage to the buyer.
According to Mainstreet Capital Partners’ website, it owns more than 6.2 million square feet of offices across the country.
The building on Congress Avenue totals 222,136 square feet on 17.1 acres. An online listing says 101,316 square feet is available for lease there with an asking rate of $13.50 per square foot.
Sitting on 10 acres, the building on West Yamato Road totals 160,817 square feet. According to an online listing, it has 12,500 square feet available for lease with an asking rate of $13.50 per square foot. The building was formerly the headquarters of Medical Staffing Network, which was recently acquired by Cross Country Healthcare.