Stiles Realty Expands Again With Two More Key Hires

As part of its continued strategic expansion in South Florida,Stiles Realty today announced two key hires to its industrial and office brokerage teams.

Mike Crissy joined the company as Industrial Sales and Leasing Associate and Brian Batchelder joined as Office Leasing and Sales Associate.

Both of these professionals carry more than a combined 30 years of commercial real estate experience.  With the addition of Crissy and Batchelder, the company has welcomed four new agents in the last six months alone.

“We are very excited to welcome Mike and Brian to our team,” said Paul Marko, president of Stiles Realty. “As the market continues to recover, Stiles Realty is keeping pace, growing quickly in Miami and Fort Lauderdale to meet the needs of our clients. These two new additions bring to Stiles a depth of real estate experience and industry knowledge that adds dimension to our team and directly benefits our clients in South Florida.”

Mike CrissyCrissy, pictured right, is charged with growing Stiles’ third party industrial and flex property sales and leasing business in South Florida. With more than 17 years of commercial real estate experience in markets across the nation, Crissy comes to Stiles from Pointe Group Advisors, where he led the Broward and Palm Beach County tenant representation and investment sales division. Prior to that, Crissy served with Jones Lang LaSalle in Miami-Dade as the exclusive tenant representative focused on corporate users throughout the Tri-County area. His most notable clients include GEICO, Janney Montgomery Scott, ESRI, Bank of America and United States Postal System. Crissy holds a bachelor’s degree from the University of Miami.

Brian BatchelderBatchelder’s primary focus is growing third-party business in the Fort Lauderdale and Palm Beach office markets. A Fort Lauderdale native, Batchelder brings more than 14 years of commercial real estate experience and local market knowledge to Stiles. Most recently, he served as a landlord representative for CBRE where he was responsible for more than 750,000 square feet of office, retail and land product. Batchelder’s track record includes about 150 leasing and sales transactions valued at more than $200 million. In addition, within the past five years he represented the State of Florida and Gilman & Ciocia in more than 50 transactions. Bachelder holds a bachelor’s degree in International Economics from Florida Atlantic University and is fluent in English and Spanish.

“It is all about timing,” commented Marko on what is driving Stiles’ expansion efforts. “We see a quick and steady recovery of the office and industrial markets in Broward with leasing and sales activity picking up over the past twelve months. We also continue to see positive absorption and increasing rental rates in key submarkets. Mike and Brian, in addition to all of our newest team members, will help service our clients and their expanding needs in South Florida.”

Crissy and Batchelder join Stiles Realty’s extensive sales and leasing team consisting of 15 professionals whose range of specialties also includes retail, land and marina properties. Stiles Realty has deep roots in the South Florida market and provides a full range of services including landlord representation, tenant representation and investment sales.  

Atlantic Commercial Group Completes Building Sale In Coconut Creek

Gary Broidis, Principal of Delray Beach-based Atlantic Commercial Group, Inc. recently completed the $1,600,000 sale of a 12,000 square foot building located in Coconut Creek.

The building, located at 6119 Lyons Road, was developed as a free-standing building approximately 6 years ago and was under contract several times with previous buyers.  Under the direction of Mr. Broidis, the property was sold to a local physician staffing company and will serve as their corporate headquarters.

Two land parcels, located immediately adjacent to this building, are currently being marketed by Atlantic Commercial Group as well.  Per Mr. Broidis, these land parcels are fully approved for identically buildings to the one recently sold and are situated in a beautiful office park with immediate access to the Sawgrass Expressway and The Florida Turnpike.

 

Judge Dismisses Lawsuit Threatening To Sideline Plantation’s $300M 321 North Project, Case Refiled

A lawsuit by the majority owner of the Fashion Mall that alleged a misuse of funds at the redevelopment project by its manager has been dismissed from federal court, although it was quickly refiled in state court.

U.S. District Judge James I. Cohen granted the motion by project manager Wei Chen and Mapuche LLC, the company that controls the property, to dismiss the lawsuit for lack of jurisdiction. Since both plaintiff Tangshan Ganglu Iron & Steel Co. and the defendants are Chinese citizens, it wouldn’t be proper for this case to be heard in U.S. federal court, the judge ruled.

The judge didn’t rule on Ganglu’s allegation that Chen misappropriated $48.7 million of the $50 million in funding that it provided for the project. Ganglu owns 80 percent of Mapuche while Chen owns the other 20 percent. Ganglu wanted a custodian to take over control of the development.

Miami attorney Lida Rodriguez-Taseff, who represents the plaintiff, said she refiled the lawsuit in Broward County Circuit Court.

“This was essentially a delay tactic on the part of the defendant to delay the inevitable,” Rodriguez-Taseff said.

The shuttered mall exited Chapter 11 in 2012 with plans for a 660,000-square-foot mixed-use development at 321 N. University Drive in Plantation. The first phase would be a renovated office building.

Even with the federal lawsuit dismissed, the question is whether the project can succeed while its main financial backer, Ganglu, is at odds with Chen.

 

Source:  SFBJ

Sperry Van Ness Reps Advance Fire & Security In Purchase Of Pompano Office Building

Advance Fire & Security purchased a 28,000 square foot office building on 2.5 acres from Harrisons Holdings II, LLC for $2,250,000 or $81 per square foot.

Known as the Lakeview Health Building, the property is located at 2701 Gateway Drive, Pompano Beach.   It was constructed in 1982 by the agent’s father; Les Byron Associates.

Les Byron, Jr. SIOR, CCIM, Steve Davis and Keith Kidwell, SIOR, CCIM of Sperry Van Ness Commercial Realty in Fort Lauderdale, Florida, represented the Buyer in the transaction.

Whelchel Partners Brings 980 Cendyn To 75% Occupied With 50,000 SF In Deals

Whelchel Partners Real Estate Services has secured more than 50,000 square feet of new tenants at the newly renovated 980 N. Federal Hwy., recently renamed 980 CENDYN.

The Boca Raton office building, formerly known as the Compson Financial Center, sold in August 2013 to local investment group Boca East Investments LLCWhelchel Partners represented the buyer in the acquisition of the 95,000 square foot building.

New anchor tenant Cendyn has recently moved into a full floor at the building, relocating its worldwide headquarters. The new ownership’s managing member, Charles Deyo, is also President and Founder of Cendyn, a full service hotel internet marketing agency.

Cendyn @ SPACES ThirdfloorCendyn Spaces, a modern concept business center and co-working location that allows for business and independent contractors to lease office and meeting space by the hour, the day, the month or the year providing ultimate flexibility.

Extensive renovations have recently been completed at the property, including new exterior façade (completion date August 1, 2014), new restaurant (Meat Eatery & Taproom), new HVAC chiller system, high tech security system, a multipurpose redesigned atrium, robust tenant improvements as well as upgraded common areas.  The building incorporates the latest technology innovations including  new 1 Gbps fiber link, Cisco Collaboration Infrastructure, CAT 6 cabling, enterprise class Wi-Fi throughout building.

Other new tenants include, R2 Unified Technology, Flagship Solutions, Matteis & Company and the new restaurant M.E.A.T.(Meat Eatery And Taproom), joining existing anchor tenant Wells Fargo.

The lease transactions bring the building from 25% occupied a year ago to over 75% occupied today.

“New ownership has created the infrastructure and environment to support the full spectrum of office users with the ability to offer 10 minute leases or 10 year leases” says Jay Whelchel, Principal of Whelchel Partners Real Estate, pictured above left.

Jay Whelchel and Whelchel President and Broker Kristy W. Hartofilis, pictured left, will remain on the project as leasing company and asset manager.

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About Whelchel Partners:  Whelchel Partners is located in Boca Raton, and offers commercial real estate services in Broward and Palm Beach Counties. For more information regarding Whelchel Partners, please visit the website at http://www.whelchelpartners.com or call 561-939-6636.

About Cendyn: Cendyn® is a full-service agency specializing in turnkey solutions that drive bottom line results for the travel and hospitality industries.   Cendyn represents 18,000 hotel and travel destinations with clients such as Starwood Hotels & Resorts, Ritz-Carlton Hotel Company, Hyatt Hotels, Hilton Worldwide, Marriott, and other independent properties.  For more information, please call 866-625-4518 or visit http://www.cendyn.com

Peter Sheridan And JLL Part Ways

Peter Sheridan has left JLL and has joined Liberty Property Trust effective May 5th.

Reportedly, Sheridan will be tasked to handle leasing activity for Liberty’s assets from the Cypress Creek market South including transactions at Miami International Tradeport.

Liberty Property Trust acquired 126 acres in Miami-Dade County in late 2011 for the development of  Miami International Tradeport in conjunction with Butters Construction & Development.

With an anticipated 1.6 million square feet of new institutional-grade warehouse and distribution space planned, Miami International Tradeport (MIT) is expected to add $135 million in value to Miami-Dade County’s tax base and create 4,000 new construction jobs with 2,000 full-time jobs upon completion.

Peter joined JLL in 2011 as Senior Vice President in Agency Leasing.

He previously worked for Premier Commercial Realty as President where he reported directly to the owners of the company regarding marketing, leasing, acquisition, management, design, and development of properties. Previous to that he worked for The Hogan Group as Regional Vice President and for Colliers International as Senior Vice President.

Peter is a member of NAIOP and holds his Florida Real Estate Brokers and Mortgage Brokers Licenses. He earned his Bachelor of Arts in Economics from Wabash College.