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Tenant Talk

August 16, 2011/in Rumors/by admin

Rumor has it that…

Garda Cash Logistics only signed a short-term lease at Via Mizner in Boca Raton and will be out looking to buy a new headquarters building within a year.

Pernod Liqueur, believed to be based out of LA, is looking for around 20,000 SF of space. From what we’ve heard, Pernod may be representated by a Cushman & Wakefield broker.

If you have some additional inside scoop on either of these tenants, leave us a comment!

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Boca Village Corporate Center Under Contract

August 10, 2011/in Trends/by admin

The 100,000-square-foot Boca Village Corporate Center, one of the premier Class A office buildings in Boca Raton, is under contract for about $30 million to an investment group from Brazil. The developable land next door is not part of the deal, sources said.

The identity of the buyer was not known, but sources said the buying group is made up of individual investors seeking to park their
money in a stable, revenue-generating property. The character of the group is important because groups of individual investors from Brazil are increasingly interested in South Florida’s commercial inventory.

Malcolm Butters, Ned Segal and Art Falcone were partners in the development of the Boca Village Corporate Center, at 4855 Technology Way. Tenants include professional services firms like Oppenheim and Smith Barney.

Butters Construction and Development would not comment on the possible sale. CB Richard Ellis’ Chris Lee and is representing both parties in the deal, was not immediately available for comment.

Peter Reed, principal with Commercial Florida Realty Services, which is not involved in the deal, said the interest in Boca Village, which may sell for as much as $300 a square foot, is justified because of its location, the quality of the building and the solid tenancy.

Tom Capocefalo, managing director with tenant representative firm Studley, was not involved in the deal, but said the “top tier” tenancy and the small number of trophy office buildings in Boca Raton drove the price.

Source:  SFBJ

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Warren Sears, Others Part Ways With CBRE

August 9, 2011/in News/by admin

Warren Sears is no longer with CB Richard Ellis, along with a number of brokers in their Miami, Ft. Lauderdale and Palm Beach offices.

Included in the tri-county-wide departures is veteran Elizabeth Santos from the Miami-Dade office.  Elizabeth started her 9 year tenure with CBRE in October, 2002, most recently serving as an Office Tenant Representative for the firm.

It wasn’t clear as to the total number of brokers no longer employed with CBRE.  Representatives from CB Richard Ellis declined to comment.

https://sfoba.com/wp-content/uploads/2011/08/warren-sears.jpg 144 184 admin https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png admin2011-08-09 19:14:202011-08-09 19:14:20Warren Sears, Others Part Ways With CBRE

Sacks And Reed Close15,000 SF Expansion

August 3, 2011/in Done Deals/by admin

George Sacks and Peter D. Reed, principals of Commercial Florida Realty Services, announced a 15,298sf lease expansion transaction.

Before the Atlanta-based law firm of McCalla Raymer, LLC had an opportunity occupy its new 15,298sf office at 110 Tower in Downtown Fort Lauderdale, the firm exercised its pre-negotiated option to lease an additional floor.

McCalla Raymer has now leased the 24th and 25th floor or 30,596sf at the recently renovated 110 Tower.

The landlord, Genesis Capital Partners XI, Ltd., was represented by Transwestern. 110 Tower is now over 70% leased. The lease value is in excess of $5,000,000.

Source:  FREJ

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Stigliano Sells 65 Acres To Hoyer Homes

July 27, 2011/in Done Deals/by admin

Reese Stigliano, a principal at Berger Commercial realty represented Hoyer Homes, LLC in their purchase of  a 65-acre parcel located in the city of Palm Bay in Brevard County, Florida.  The land is located in the master-planned mixed-use development known as Bayside Lakes.  Hoyer  purchased 210 single-family lots.  101 lots were in the Amberwood subdivision and 109 lots were in the Wellington subdivision.

Hoyer purchased the land from CRM Florida Properties, LLC, an entity formed by SunTrust Bank, paid $1,575,000 or $7,500 per lot.  The
purchaser’s objective will be to land bank the land , with the intent to sell to lots in a takedown arrangement to  publicly traded homebuilders, which eliminates the homebuilder’s expensive land development infrastructure cost and interest carry.

The deal was not without its obstacles.  Over $1 million in past due utilities fees were owed. Mr. Stigliano assisted in the negotiation of a
deal with the City of Palm Bay to reinstate the utility agreement and reduced past due fees to $250,000. In addition, a settlement to waive
past due property owners association fees of $250,000 and reduced annual POA fees going forward had to be negotiated.

This is Reese’s second deal with Hoyer Homes.  Reese represented Hoyer in the purchase of 53-acres in Miami-Dade county back in December, 2010.

 

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Deborah Fink Joins CBRE

July 26, 2011/in News/by admin

Deborah Fink joins CBRE to partner with the South Florida “Private Capital Agency Leasing” team – Scott O’Donnell, Dominic Montazemi, Marty Busekrus, and Miguel Alcivar – with a focus on Palm Beach & Broward counties.

She joins CBRE from NAI Rauch Weaver where she specialized in office leasing. Her history of work experience with commercial real estate includes agency representation for office and medical properties, tenant representation, and representing both buyers and sellers in property trades.

“Deborah is joining us to provide leasing representation to our private capital clients at the level our institutional clients are accustomed to,” said Ken Krasnow, CBRE Managing Director.

While with NAI, Deborah received top recognition as a sales producer on multiple occasions. Her professional affiliations include CREW, South Florida Office Brokers Association, NAIOP, CCIM, and Commercial Investment Real Estate Brokers Association (CIREBA) where she served on the Board of Directors.

 

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