Orlando-based CNL Commercial Real Estate is moving ahead with a plan to make $300 million in acquisitions over the next 18 months.
In April, CNL closed on the first acquisition for its CCRE Sponsor Equity Fund I — a $45 million purchase of the Sawgrass Lake Center office complex in Fort Lauderdale. The company is now working on a possible new deal in Dallas — a large, vacant commercial building.
Last week, CNL said it hired David Willett of Boston as director of acquisitions for the buying fund. Willett formerly worked for New Boston Fund, a real estate investment management firm.
“The goal is to invest in markets where we have an office and presumably have local expertise on the ground,” said Pryse Elam, president of developments and investment for CNL.
Elam said the Fort Lauderdale purchase is a good example of what CNL is seeking: viable commercial buildings that suffered a loss of tenants during the recession. Willett and Elam are now based in Boca Raton.
CBRE arranged the sale of Delray Park of Commerce, a 19,478-square-foot boutique office building located at 800 NW 17th Avenue in Delray Beach.
Brain Matters Properties, LLC acquired the single-story building from HHCS Real Estate, LLC for $3.4 million.
CBRE represented the seller.
“Delray Park of Commerce offers a combination of flexible office space, great amenities and convenient access to major transportation arteries,” said CBRE’s Owen Sagar.
Built in 1999 and located in a highly desirable area near upscale neighborhoods, the property is well-situated on 4.39 acres on the northeast corner of Congress Avenue and Lake Ida Road. Delray Park of Commerce offers ample parking in a corporate, park-like setting with quaint water views and easy access to I-95 and Atlantic Avenue, “The Ave.,” in downtown Delray Beach.
CBRE’s sales team included Dominic Montazemi, Scott O’Donnell, Miguel Alcivar, Jason Hochman and Owen Sagar. Garrett Vonk represented the buyer.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-07-16 18:10:522014-07-16 18:10:52CBRE Arranges Sale Of Delray Park Of Commerce
CBRE has been selected as the exclusive leasing agent for BayView Corporate Tower, the largest office building in Broward County.
Owned by New Boston Fund, a private equity real estate investment, development and management firm based in Boston, the 412,520-square-foot, 12-story building is located at 6451 N. Federal Highway in Fort Lauderdale. New Boston Fund acquired the property in early 2008 for a reported $63 million.
“BayView Corporate Tower offers its Cypress Creek neighborhood a rare opportunity to have an exclusive office address close to home,” said CBRE Senior Vice President Deanna Lobinsky. “Additionally, with newly renovated interior and exterior spaces and four new spec suites awaiting their first tenants, it still offers some of the most competitive rental rates in the region, especially when compared with occupancy costs downtown.”
BayView Corporate Tower offers suites ranging in size from 1,400 to 77,000 square feet. The building features large floor plates of up to 33,000 square feet with many upper level offices having ocean views.
“We are very pleased to be working with the team from CBRE to help us to continue to position the property at the forefront of the market,” said Pamela Adamian, Vice President of Asset Management at New Boston Fund. “The location, amenities and available space are a major draw for quality tenants.”
Just minutes to I-95, the Energy Star-rated property is close to dining, banking and retail. Prominent tenant signage on both the top of the building and along Federal Highway is available.
BayView has received multiple “Office Building of the Year” honors from The Building Owners and Managers Association (BOMA) and an Energy Star rating every year since 2008.
CBRE’s Jarred Goodstein and Avi Fisher are collaborating with Lobinsky in representing BayView Corporate Tower.
https://sfoba.com/wp-content/uploads/2011/11/atlantech-tower.jpg270275SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-07-15 21:26:072014-07-15 21:26:07CBRE Tapped To Lease Broward’s Largest Office Building
Marcus & Millichap announced the sale of BB&T Bank Building, a 37,369 square foot office property located in Coral Springs.
The asset sold for $4,275,000, equating to $114 per square foot.
Douglas K. Mandel, a first vice present investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Miami.
“This was an opportunity for an investor to acquire a stabilized asset located within the Coral Springs Community Redevelopment Area. The focus of the redevelopment plan is to convert the current low-density, unconnected, car-dependent, development pattern into a ‘real downtown’ where none has existed before,” says Mandel.
BB&T Bank Building was constructed in 1978 and is 93 percent occupied with a mix of professional office and medical office tenants. BB&T Bank has a branch in the property with drive-thru lanes and an ATM. The property is located adjacent to the Broward Health Coral Springs Hospital at 9600 West Sample Road in Coral Springs.
The redevelopment of the Panama Hattie’s site near Palm Beach Gardens is being scaled down after nearby residents expressed concerns over the potential traffic impact of the project.
PGA Partners, led by developer Nick Mastroianni, reduced the condo component of the proposed $175 million redevelopment from 150 units to 84. About 20,000 square feet of office and restaurant space is also being eliminated from the plan.
The developer is trying to assemble an eight-acre site that combines waterfront restaurant Panama Hattie’s with other parcels to the south.
An application to annex the site on the south side of PGA Boulevard into Palm Beach Gardens is pending, according to the Palm Beach Post. The properties are part of unincorporated Palm Beach County.
Over the past decade, developers in that part of the county have pushed to construct infill projects with multiple uses in urbanized areas.
Reese Stigliano, Senior Vice President with Brenner Real Estate Group, completed a double play for his client, SNG Prosthetic Eye Institute.
Stigliano represented the client in the sale of their office building in Boca Raton and coordinated the relocation to a new leased space in Delray Beach. Reese was assisted in these transactions by his associate, Ken Silberling.
The sale of the 4,010 square foot building, located at 950 NW 9th Court in Boca Raton, closed on Friday, June 13th for $1,225,000.
The buyer was Welcor Holdings, LLC, a local real estate investment firm that plans on leasing the space to a physical therapist. The building, which is located within walking distance to Boca Raton Regional Hospital, sold for over $305 per sq.ft.
“This is a very high price for an empty building,” according to Stigliano, “but the location in east Boca Raton and the unique zoning of MC (Medical Center) made the property very desirable for a medical user.”
Once the building was under contract, the next challenge was identifying a suitable alternative medical space to lease. Also, the client needed to close on the sale and be open for business in the new space virtually the same day without any down time.
Stigliano and Silberling were able to locate a 2,611 square foot medical office condo for lease in the South County Professional Center located at 16244 S. Military Trail in Delray Beach where SNG Prosthetic Eye Institute signed a five (5) year leased valued at over $260,000.
“Reese did an absolutely fabulous job juggling the sale of my building and coordinating the relocation of my company. We sold the building on a Friday and Monday morning I was opened for business in my new location,” according to Nicole Garonzik, owner of SNG Prosthetic Eye Institute.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2014-06-25 21:27:082014-06-25 21:27:08Stigliano Turns Double Play
Orlando-Based CNL In Buying Mode
/in News/by SFOBA STAFFOrlando-based CNL Commercial Real Estate is moving ahead with a plan to make $300 million in acquisitions over the next 18 months.
In April, CNL closed on the first acquisition for its CCRE Sponsor Equity Fund I — a $45 million purchase of the Sawgrass Lake Center office complex in Fort Lauderdale. The company is now working on a possible new deal in Dallas — a large, vacant commercial building.
Last week, CNL said it hired David Willett of Boston as director of acquisitions for the buying fund. Willett formerly worked for New Boston Fund, a real estate investment management firm.
“The goal is to invest in markets where we have an office and presumably have local expertise on the ground,” said Pryse Elam, president of developments and investment for CNL.
Elam said the Fort Lauderdale purchase is a good example of what CNL is seeking: viable commercial buildings that suffered a loss of tenants during the recession. Willett and Elam are now based in Boca Raton.
Source: SunSentinel
CBRE Arranges Sale Of Delray Park Of Commerce
/in Done Deals, News/by SFOBA STAFFCBRE arranged the sale of Delray Park of Commerce, a 19,478-square-foot boutique office building located at 800 NW 17th Avenue in Delray Beach.
Brain Matters Properties, LLC acquired the single-story building from HHCS Real Estate, LLC for $3.4 million.
CBRE represented the seller.
“Delray Park of Commerce offers a combination of flexible office space, great amenities and convenient access to major transportation arteries,” said CBRE’s Owen Sagar.
Built in 1999 and located in a highly desirable area near upscale neighborhoods, the property is well-situated on 4.39 acres on the northeast corner of Congress Avenue and Lake Ida Road. Delray Park of Commerce offers ample parking in a corporate, park-like setting with quaint water views and easy access to I-95 and Atlantic Avenue, “The Ave.,” in downtown Delray Beach.
CBRE’s sales team included Dominic Montazemi, Scott O’Donnell, Miguel Alcivar, Jason Hochman and Owen Sagar. Garrett Vonk represented the buyer.
CBRE Tapped To Lease Broward’s Largest Office Building
/in News/by SFOBA STAFFCBRE has been selected as the exclusive leasing agent for BayView Corporate Tower, the largest office building in Broward County.
Owned by New Boston Fund, a private equity real estate investment, development and management firm based in Boston, the 412,520-square-foot, 12-story building is located at 6451 N. Federal Highway in Fort Lauderdale. New Boston Fund acquired the property in early 2008 for a reported $63 million.
BayView Corporate Tower offers suites ranging in size from 1,400 to 77,000 square feet. The building features large floor plates of up to 33,000 square feet with many upper level offices having ocean views.
“We are very pleased to be working with the team from CBRE to help us to continue to position the property at the forefront of the market,” said Pamela Adamian, Vice President of Asset Management at New Boston Fund. “The location, amenities and available space are a major draw for quality tenants.”
Just minutes to I-95, the Energy Star-rated property is close to dining, banking and retail. Prominent tenant signage on both the top of the building and along Federal Highway is available.
BayView has received multiple “Office Building of the Year” honors from The Building Owners and Managers Association (BOMA) and an Energy Star rating every year since 2008.
CBRE’s Jarred Goodstein and Avi Fisher are collaborating with Lobinsky in representing BayView Corporate Tower.
M&M’s Mandel Brokers Coral Springs Office Sale
/in Done Deals/by SFOBA STAFFMarcus & Millichap announced the sale of BB&T Bank Building, a 37,369 square foot office property located in Coral Springs.
The asset sold for $4,275,000, equating to $114 per square foot.
Douglas K. Mandel, a first vice present investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Miami.
BB&T Bank Building was constructed in 1978 and is 93 percent occupied with a mix of professional office and medical office tenants. BB&T Bank has a branch in the property with drive-thru lanes and an ATM. The property is located adjacent to the Broward Health Coral Springs Hospital at 9600 West Sample Road in Coral Springs.
Palm Beach Gardens Project Eliminates Office Component Amid Traffic Concerns
/in News/by SFOBA STAFFThe redevelopment of the Panama Hattie’s site near Palm Beach Gardens is being scaled down after nearby residents expressed concerns over the potential traffic impact of the project.
PGA Partners, led by developer Nick Mastroianni, reduced the condo component of the proposed $175 million redevelopment from 150 units to 84. About 20,000 square feet of office and restaurant space is also being eliminated from the plan.
The developer is trying to assemble an eight-acre site that combines waterfront restaurant Panama Hattie’s with other parcels to the south.
An application to annex the site on the south side of PGA Boulevard into Palm Beach Gardens is pending, according to the Palm Beach Post. The properties are part of unincorporated Palm Beach County.
Over the past decade, developers in that part of the county have pushed to construct infill projects with multiple uses in urbanized areas.
Stigliano Turns Double Play
/in Done Deals/by SFOBA STAFFReese Stigliano, Senior Vice President with Brenner Real Estate Group, completed a double play for his client, SNG Prosthetic Eye Institute.
The sale of the 4,010 square foot building, located at 950 NW 9th Court in Boca Raton, closed on Friday, June 13th for $1,225,000.
The buyer was Welcor Holdings, LLC, a local real estate investment firm that plans on leasing the space to a physical therapist. The building, which is located within walking distance to Boca Raton Regional Hospital, sold for over $305 per sq.ft.
“This is a very high price for an empty building,” according to Stigliano, “but the location in east Boca Raton and the unique zoning of MC (Medical Center) made the property very desirable for a medical user.”
Once the building was under contract, the next challenge was identifying a suitable alternative medical space to lease. Also, the client needed to close on the sale and be open for business in the new space virtually the same day without any down time.
Stigliano and Silberling were able to locate a 2,611 square foot medical office condo for lease in the South County Professional Center located at 16244 S. Military Trail in Delray Beach where SNG Prosthetic Eye Institute signed a five (5) year leased valued at over $260,000.
“Reese did an absolutely fabulous job juggling the sale of my building and coordinating the relocation of my company. We sold the building on a Friday and Monday morning I was opened for business in my new location,” according to Nicole Garonzik, owner of SNG Prosthetic Eye Institute.