Marcus & Millichap negotiated the sale of Cypress Executive Center, a office building located in the Uptown Business District of Fort Lauderdale.
The asset sold for $17,500,000.
ICM Cypress LP, an affiliate of Calgary-based ICM Realty Group, sold the 140,635-square-foot office building at 1901 W Cypress Creek Road to CYPRESS CORPORATE CENTER LLC. The price equates to $124 per square foot. The property is situated on a ground lease that is owned by the City of Fort Lauderdale and has just under 50 years of lease term remaining.
Marcus & Millichap’s Douglas Mandel, Tyler S. Kuhlman and Richard Redmond had the exclusive listing to market the property on behalf of the seller.
“We have sold several properties over the years that were subject to city of Fort Lauderdale ground leases, so we are very familiar with working with Airport Authority and the city of Fort Lauderdale to navigate the assumption process”, said Mandel.
ICM purchased the building in 2015 for $10.9 million when Mandel represented the Seller. At the time, building was just 60% occupied. After the acquisition ICM completed a building-wide renovation, re-branding and repositioning strategy, which resulted in the building’s stabilization. “Our partnership with Doug’s team for the building sale was vital to executing our investment strategy”, said ICM Realty’s Andrew Webb.
“The Cypress Executive Center garnered premium pricing due to current ownerships ability to stabilize the asset, whilst significantly upgrading the buildings core amenities and successfully executing on their value-add strategy from inception,” stated Kuhlman.
Cypress Executive Center is located at 1901 W Cypress Creek Rd in Fort Lauderdale, FL. It is directly across the street from the Fort Lauderdale Executive Airport in the Uptown Business District of Fort Lauderdale, which is home to numerous major national corporations such as Citrix, Microsoft and others. The property was constructed in 1987 and extensively upgraded between 2015 and 2019, with over $1.3 million worth of improvements added to the building, in addition to considerable Tenant Improvements made to many of the suites during the same period.
https://sfoba.com/wp-content/uploads/2011/11/Cypress-Executive-Center.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2021-01-03 19:39:322021-01-03 19:39:32Uptown Fort Lauderdale Office Building Sells
Peter Messina, CCIM has been appointed by SVN Commercial Realty President Keith Kidwell to lead the firm’s Office and Healthcare agency practice in South Florida.
In 2020, the South Florida office market, while affected by the pandemic, mostly held strong and was not impacted nearly as much as other major markets around the country.
“Rental rates have for the most part remained intact, although incentives have increased especially to the major tenants seeking renewal,” Messina said. “Sublease space creating a shadow market has begun to surface and should be monitored closely.”
“I am excited to be joining SVN Commercial Realty and look forward to leveraging the Sperry platform of services and to be aligned with a team of seasoned professionals,” Messina continued. “SVN has a company culture of broker cooperation which fits perfectly with my involvement in CCIM and my business approach and the service to my clients.”
Messina has 14 years of experience in South Florida commercial real estate covering most types of transactions and representation. His experience in office and industrial agency and tenant representation, healthcare, multimarket portfolio accounts and advisory services lends itself as a perfect fit to the Sperry platform of services.
Messina joins SVN Commercial Realty after four years with CBRE, where he served as First Vice President with the Advisory and Transactions Services team. He is an active member of CCIM and served as the Broward District in 2018 and continues to service on the board. He is also a long standing member of the Rotary Club of Weston and volunteers for several local charities.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2020-12-27 13:15:362020-12-27 13:15:36Former CBRE First VP To Lead SVN Commercial Realty’s Office, Healthcare Agency Practice
Stiles Senior Vice President Norm Adams secured a 10-year lease deal with Templeton & Company accounting and consulting firm at The Main Las Olas located at 201 E. Las Olas Blvd. in the heart of downtown Fort Lauderdale.
Delivered in November 2020, The Main Las Olas is the newest Class A, amenity-rich office tower developed on Las Olas Blvd. in more than two decades.
Templeton & Company, one of the region’s leading accounting and consulting firms with offices in West Palm Beach and Fort Lauderdale, is relocating from 301 E. Las Olas to The Main Las Olas. Templeton provides a broad spectrum of services to its clients including assurance, tax, family office and consulting. The firm plans to occupy the space in January 2022.
“We reached an exciting point in our company’s evolution and our professionals need office space that reflects the high caliber service that we offer our clients and supports our business growth objectives,” said Steve Templeton, Founder and President of Templeton & Company. “The Main Las Olas unquestionably provides the preeminent venue to best meet our clients’ needs and serve as our Fort Lauderdale headquarters for family office services to our high-net-worth families.”
Spanning a full city block, The Main Las Olas redefines the city’s epicenter with 1.4 million square feet of mixed-use office, residential and retail space that stands alone across South Florida as nothing short of revolutionary.
“In this new environment, tenants want a combination of amenities and location, and The Main Las Olas delivers the highest standards of both,” said Adams. ”Templeton chose to establish a new base where they could elevate their business profile and grow in a safe, secure facility offering the highest level of technology and features in office today.”
Combining a dramatic and stunning 25-story all-glass design by nationally acclaimed architecture firm Cooper Cary, the tower offers nearly 370,000 square feet of efficient, modern and forward-thinking office space, expansive 12-foot, floor-to-ceiling windows that draw maximum light, and world-class amenities. Connected to 341-unit apartment tower Novo Las Olas, which features the area’s first Publix GreenWise grocer on the ground floor, the building’s outdoor and indoor amenity spaces, conference centers and state of the art fitness center rival even the most cutting edge office buildings found across the region.
The Main Las Olas, developed by joint venture partners Stiles and San Francisco-based Shorenstein Properties LLC, welcomed its first tenant, law firm Akerman LLP, in November and is currently 40 percent leased. Stiles is a 69-year-old, full service commercial real estate firm headquartered in Fort Lauderdale with offices across the Southeastern United States.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2020-12-20 20:24:212020-12-20 20:24:21Stiles’ Norm Adams Signs Lease With Accounting Firm At The Main Las Olas Office Tower In Downtown Fort Lauderdale
Conventional wisdom says “don’t sell an office building during a pandemic, unless you’re desperate”, but I’d like to offer a contrarian view to owners who are strategically evaluating how best to capitalize on current investment market conditions.
Do you own an office building that is located in a desirable South Florida submarket?
Is your building well-leased to strong, rent paying tenants, with limited near-term lease expirations?
Does the tenant mix include medical, life science or other essential or mission critical users?
If you answered yes to any of the above questions, you may need to consider selling, and here’s why:
Pent-Up Investor Demand. While the stock market continues to whipsaw to record highs, billions of dollars have been raised by institutional and private real estate investment vehicles in 2020 as an investment alternative. This abundance of capital needs to be deployed in order for sponsors to achieve their investment objectives. And large multi-asset class owners will soon be over allocated to the equity markets (because of the run up), necessitating a rotation into other investments, including real estate.
Limited Acquisition Opportunities. Since many owners are sitting on the sidelines waiting for post pandemic price discovery, despite strong buyer interest, there are very few acquisition opportunities for investors to buy.
Favorable Market Conditions, Demographics. There has certainly been a significant recent increase in space availabilities – both direct and sublease. Space users have been reluctant to make medium or long term commitments and there will definitely be changes in the way occupiers utilize office space in the future. In the short term, vacancy rates will increase, absorption will be negative and rent growth will be flat or decline. Having said that, the SALT effect (lack of state and local taxes), an educated workforce, business friendly state policies, and a high quality of lifestyle will continue to fuel corporate relocations and growth in South Florida.
This Too Shall Pass…Soon. With at least three effective vaccines about to be deployed, political uncertainty resolved and the federal government standing by to buoy the economy as necessary, a new normal will quickly return. Pent-up demand for South Florida office space should fast track absorption of excess space and with limited new supply, rental rate rents will start to spike as early as 2022.
Premium Pricing Attainable. ”Smart money” market making owners with favored assets are taking advantage of the supply/demand imbalance, historically low interest rates, enhanced by favorable long-term market characteristics, to create competitive bidding for these coveted South Florida assets and are achieving premium pricing.
Mark M. Rubin is executive managing director of Investment Sales for Colliers International based in South Florida.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2020-12-15 02:13:152020-12-15 02:13:15Why Now Might Be The Best Time To Sell Your South Florida Office
Lee & Associates announced the addition of Joseph Jarkesy, CCIM, as Senior Vice President specializing in Office landlord agency and tenant representation throughout South Florida with a keen discipline in the growing Broward Office market.
Mr. Jarkesy has over 16 years industry experience in commercial real estate in South Florida, and in the past 5 years alone has brokered over $40 million in commercial real estate transactions. He is adept at guiding real estate owners through the leasing of their properties, as well as acquisition, holding, and disposition of their real estate assets, and ensuring their buildings perform. As a South Florida native, Mr. Jarkesy has developed the in-depth, local market knowledge to strategically advise his clients on commercial real estate trends and forecasts. His expertise, experience and hard work ethic makes him a key partner toward maximizing the performance of his client’s real estate assets.
With the effects of COVID rippling through the south Florida office market, Joseph has been quick to come to the aide of his clients. “COVID-19 has changed the office leasing landscape over the past 9 months. The same old status quo that some of my competitors got away with during a hotter economy is now showing its flaws; our clients recognize my market knowledge, experience, and direct approach has been highly successful at absorbing their vacancy and shielding them from the negative effects other buildings are experiencing in this market. Every building in this market has different qualities, advantages, and disadvantages. Understanding these differences allows me to guide tenants to the right buildings and identify the right tenants to fill vacancies quickly and smoothly.”
“There will be winners and losers going forward over the next 12 months as the search for a vaccine continues,” Joseph also notes, as we barrel through Q4 and enter an unprecedented market in 2021. “Landlord’s that recognize the value I bring to the table as a true office specialist will find their buildings performing better with higher occupancies and greater rents.”
Immediately upon joining Lee & Associates, Joseph has already hit the ground running gaining the confidence of Landlord’s with over 100,000 SF of new Office Leasing assignments in Fort Lauderdale Beach, Las Olas, and Pompano Beach neighborhoods.
“I liked that Lee is a pure brokerage company,” says Joseph when asked about joining the growing South Florida Lee & Associates office. “We have a local team of experienced and veteran brokers many of whom are CCIM and SIOR’s, and we are backed by a unified national platform that consistently delivers strong tenants into our marketplace from areas like New York, New Jersey and other high tax states. The fact I can earn higher splits from the office while still receiving the full resources and support I need to service my clients, means I am more incentivized than my competition to work that much harder for each and every deal.”
Prior to joining Lee & Associates South Florida, Joseph served as Vice President with Stiles where he focused on tenant and landlord representation for office and retail space in Broward County. Prior to that, he spent over a decade handling acquisition, holding and disposition with the Fitzgerald Group. Joseph Jarkesy is a graduate from Florida State University with a Bachelor’s degree in Real Estate and Finance, and actively participates in the South Florida Office Brokers Association (SFOBA). Joseph has been awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM institute in 2019. The CCIM designation is awarded to commercial real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying experience.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2020-12-07 03:10:242020-12-07 03:10:24Lee & Associates South Florida Adds Joseph Jarkesy, CCIM as Senior Vice President of Office Leasing Growing Broward Market Share
NAI/Merin Hunter Codman announced it has been retained to oversee all leasing for the iconic 20-story, 256,000 square-foot, Esperante Corporate Center located in the heart of downtown West Palm Beach at 222 Lakeview Avenue.
RedSky Capital, which purchased the premier trophy property in 2016 and recently completed over $8 million in property renovations, awarded the leasing assignment to Managing Directors Lesley Sheinberg and Barbara LeBrun, SIOR who will be supported by Commercial Associate Alexandra Bazo with the retail portion of the property being handled by NAI/Merin Hunter Codman’s long-time Retail Service Group Managing Director Bruce Corn.
“Esperante Corporate Center has been an iconic part of the West Palm Beach skyline since 1989. NAI/Merin Hunter Codman has been a force in the Palm Beach County commercial real estate marketplace just as long, if not longer. Their long-term local market leadership, local and global connections, and proven track record made them a perfect fit to represent Esperante,” cited Ben Stokes, Principal of RedSky Capital.
Sheinberg added, “Esperante is a premier commercial property, offering an array of first-class amenities and services. The stunning renovations combined with the exciting retail aspect of the property makes it a highly competitive prospect for out-of-state firms coming to South Florida to take advantage of our favorable and tax-friendly business climate along with our incomparable lifestyle. We are seeing more and more businesses leaving large metropolitan areas and relocating to West Palm Beach in response to the challenges posed by the coronavirus. Esperante’s owners and our team welcome the opportunity to introduce this one-of-a-kind downtown West Palm Beach jewel to office and retail users across the country.”
Esperante Corporate Center offers a variety of floor plans to suit multiple needs, including build-to-suit and move-in ready options for boutique and corporate headquarter users alike. The building is currently offering ±600-35,000 square feet of office space with full floor opportunities and retail space from ±600-2,400 square feet, including high-visibility café opportunities.
00adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2020-11-30 04:10:182020-11-30 04:10:18NAI/Merin Hunter Codman Tapped To Lease Iconic West Palm Beach Office Building
Uptown Fort Lauderdale Office Building Sells
/in Done Deals, News/by adminMarcus & Millichap negotiated the sale of Cypress Executive Center, a office building located in the Uptown Business District of Fort Lauderdale.
The asset sold for $17,500,000.
ICM Cypress LP, an affiliate of Calgary-based ICM Realty Group, sold the 140,635-square-foot office building at 1901 W Cypress Creek Road to CYPRESS CORPORATE CENTER LLC. The price equates to $124 per square foot. The property is situated on a ground lease that is owned by the City of Fort Lauderdale and has just under 50 years of lease term remaining.
Marcus & Millichap’s Douglas Mandel, Tyler S. Kuhlman and Richard Redmond had the exclusive listing to market the property on behalf of the seller.
ICM purchased the building in 2015 for $10.9 million when Mandel represented the Seller. At the time, building was just 60% occupied. After the acquisition ICM completed a building-wide renovation, re-branding and repositioning strategy, which resulted in the building’s stabilization. “Our partnership with Doug’s team for the building sale was vital to executing our investment strategy”, said ICM Realty’s Andrew Webb.
Cypress Executive Center is located at 1901 W Cypress Creek Rd in Fort Lauderdale, FL. It is directly across the street from the Fort Lauderdale Executive Airport in the Uptown Business District of Fort Lauderdale, which is home to numerous major national corporations such as Citrix, Microsoft and others. The property was constructed in 1987 and extensively upgraded between 2015 and 2019, with over $1.3 million worth of improvements added to the building, in addition to considerable Tenant Improvements made to many of the suites during the same period.
Former CBRE First VP To Lead SVN Commercial Realty’s Office, Healthcare Agency Practice
/in News/by adminPeter Messina, CCIM has been appointed by SVN Commercial Realty President Keith Kidwell to lead the firm’s Office and Healthcare agency practice in South Florida.
In 2020, the South Florida office market, while affected by the pandemic, mostly held strong and was not impacted nearly as much as other major markets around the country.
Messina has 14 years of experience in South Florida commercial real estate covering most types of transactions and representation. His experience in office and industrial agency and tenant representation, healthcare, multimarket portfolio accounts and advisory services lends itself as a perfect fit to the Sperry platform of services.
Messina joins SVN Commercial Realty after four years with CBRE, where he served as First Vice President with the Advisory and Transactions Services team. He is an active member of CCIM and served as the Broward District in 2018 and continues to service on the board. He is also a long standing member of the Rotary Club of Weston and volunteers for several local charities.
Stiles’ Norm Adams Signs Lease With Accounting Firm At The Main Las Olas Office Tower In Downtown Fort Lauderdale
/in Done Deals, News/by adminStiles Senior Vice President Norm Adams secured a 10-year lease deal with Templeton & Company accounting and consulting firm at The Main Las Olas located at 201 E. Las Olas Blvd. in the heart of downtown Fort Lauderdale.
Delivered in November 2020, The Main Las Olas is the newest Class A, amenity-rich office tower developed on Las Olas Blvd. in more than two decades.
Templeton & Company, one of the region’s leading accounting and consulting firms with offices in West Palm Beach and Fort Lauderdale, is relocating from 301 E. Las Olas to The Main Las Olas. Templeton provides a broad spectrum of services to its clients including assurance, tax, family office and consulting. The firm plans to occupy the space in January 2022.
Spanning a full city block, The Main Las Olas redefines the city’s epicenter with 1.4 million square feet of mixed-use office, residential and retail space that stands alone across South Florida as nothing short of revolutionary.
Combining a dramatic and stunning 25-story all-glass design by nationally acclaimed architecture firm Cooper Cary, the tower offers nearly 370,000 square feet of efficient, modern and forward-thinking office space, expansive 12-foot, floor-to-ceiling windows that draw maximum light, and world-class amenities. Connected to 341-unit apartment tower Novo Las Olas, which features the area’s first Publix GreenWise grocer on the ground floor, the building’s outdoor and indoor amenity spaces, conference centers and state of the art fitness center rival even the most cutting edge office buildings found across the region.
The Main Las Olas, developed by joint venture partners Stiles and San Francisco-based Shorenstein Properties LLC, welcomed its first tenant, law firm Akerman LLP, in November and is currently 40 percent leased. Stiles is a 69-year-old, full service commercial real estate firm headquartered in Fort Lauderdale with offices across the Southeastern United States.
Why Now Might Be The Best Time To Sell Your South Florida Office
/in News/by adminBy Mark Rubin
Conventional wisdom says “don’t sell an office building during a pandemic, unless you’re desperate”, but I’d like to offer a contrarian view to owners who are strategically evaluating how best to capitalize on current investment market conditions.
Do you own an office building that is located in a desirable South Florida submarket?
Is your building well-leased to strong, rent paying tenants, with limited near-term lease expirations?
Does the tenant mix include medical, life science or other essential or mission critical users?
If you answered yes to any of the above questions, you may need to consider selling, and here’s why:
Pent-Up Investor Demand. While the stock market continues to whipsaw to record highs, billions of dollars have been raised by institutional and private real estate investment vehicles in 2020 as an investment alternative. This abundance of capital needs to be deployed in order for sponsors to achieve their investment objectives. And large multi-asset class owners will soon be over allocated to the equity markets (because of the run up), necessitating a rotation into other investments, including real estate.
Limited Acquisition Opportunities. Since many owners are sitting on the sidelines waiting for post pandemic price discovery, despite strong buyer interest, there are very few acquisition opportunities for investors to buy.
Favorable Market Conditions, Demographics. There has certainly been a significant recent increase in space availabilities – both direct and sublease. Space users have been reluctant to make medium or long term commitments and there will definitely be changes in the way occupiers utilize office space in the future. In the short term, vacancy rates will increase, absorption will be negative and rent growth will be flat or decline. Having said that, the SALT effect (lack of state and local taxes), an educated workforce, business friendly state policies, and a high quality of lifestyle will continue to fuel corporate relocations and growth in South Florida.
This Too Shall Pass…Soon. With at least three effective vaccines about to be deployed, political uncertainty resolved and the federal government standing by to buoy the economy as necessary, a new normal will quickly return. Pent-up demand for South Florida office space should fast track absorption of excess space and with limited new supply, rental rate rents will start to spike as early as 2022.
Premium Pricing Attainable. ”Smart money” market making owners with favored assets are taking advantage of the supply/demand imbalance, historically low interest rates, enhanced by favorable long-term market characteristics, to create competitive bidding for these coveted South Florida assets and are achieving premium pricing.
Mark M. Rubin is executive managing director of Investment Sales for Colliers International based in South Florida.
Source: GlobeSt.
Lee & Associates South Florida Adds Joseph Jarkesy, CCIM as Senior Vice President of Office Leasing Growing Broward Market Share
/in News/by adminLee & Associates announced the addition of Joseph Jarkesy, CCIM, as Senior Vice President specializing in Office landlord agency and tenant representation throughout South Florida with a keen discipline in the growing Broward Office market.
Mr. Jarkesy has over 16 years industry experience in commercial real estate in South Florida, and in the past 5 years alone has brokered over $40 million in commercial real estate transactions. He is adept at guiding real estate owners through the leasing of their properties, as well as acquisition, holding, and disposition of their real estate assets, and ensuring their buildings perform. As a South Florida native, Mr. Jarkesy has developed the in-depth, local market knowledge to strategically advise his clients on commercial real estate trends and forecasts. His expertise, experience and hard work ethic makes him a key partner toward maximizing the performance of his client’s real estate assets.
With the effects of COVID rippling through the south Florida office market, Joseph has been quick to come to the aide of his clients. “COVID-19 has changed the office leasing landscape over the past 9 months. The same old status quo that some of my competitors got away with during a hotter economy is now showing its flaws; our clients recognize my market knowledge, experience, and direct approach has been highly successful at absorbing their vacancy and shielding them from the negative effects other buildings are experiencing in this market. Every building in this market has different qualities, advantages, and disadvantages. Understanding these differences allows me to guide tenants to the right buildings and identify the right tenants to fill vacancies quickly and smoothly.”
Immediately upon joining Lee & Associates, Joseph has already hit the ground running gaining the confidence of Landlord’s with over 100,000 SF of new Office Leasing assignments in Fort Lauderdale Beach, Las Olas, and Pompano Beach neighborhoods.
Prior to joining Lee & Associates South Florida, Joseph served as Vice President with Stiles where he focused on tenant and landlord representation for office and retail space in Broward County. Prior to that, he spent over a decade handling acquisition, holding and disposition with the Fitzgerald Group. Joseph Jarkesy is a graduate from Florida State University with a Bachelor’s degree in Real Estate and Finance, and actively participates in the South Florida Office Brokers Association (SFOBA). Joseph has been awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM institute in 2019. The CCIM designation is awarded to commercial real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying experience.
NAI/Merin Hunter Codman Tapped To Lease Iconic West Palm Beach Office Building
/in News/by adminNAI/Merin Hunter Codman announced it has been retained to oversee all leasing for the iconic 20-story, 256,000 square-foot, Esperante Corporate Center located in the heart of downtown West Palm Beach at 222 Lakeview Avenue.
RedSky Capital, which purchased the premier trophy property in 2016 and recently completed over $8 million in property renovations, awarded the leasing assignment to Managing Directors Lesley Sheinberg and Barbara LeBrun, SIOR who will be supported by Commercial Associate Alexandra Bazo with the retail portion of the property being handled by NAI/Merin Hunter Codman’s long-time Retail Service Group Managing Director Bruce Corn.
Esperante Corporate Center offers a variety of floor plans to suit multiple needs, including build-to-suit and move-in ready options for boutique and corporate headquarter users alike. The building is currently offering ±600-35,000 square feet of office space with full floor opportunities and retail space from ±600-2,400 square feet, including high-visibility café opportunities.