The Lake Shore Plaza II office building in Sunrise has traded for $32 million.
A company managed by Fort Lauderdale-based Stiles sold the 1300 Concord Terrace building to TR Lake Shore Plaza on Dec. 17, according to Broward County records. The county recorded the transaction on Thursday.
TR Lake Shore is managed by Connecticut firm Cornerstone Real Estate Advisers, which has had a busy month.
Cornerstone partnered with Boca Raton-based Crocker Partners on the $71 million acquisition of downtown West Palm Beach office building Esperante Corporate Center. That purchase closed on Nov. 26.
No financing was recorded for the Lake Shore purchase.
The 128,000-square-foot building was completed in 2008 on nearly nine acres. Tenants include Global Medical Management and Travel Insurance Center.
Another Stiles-managed company sold the Gateway at Sawgrass retail center in Sunrise for $16 million earlier this month.
https://sfoba.com/wp-content/uploads/2013/12/Lake-Shore-Plaza.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2013-12-31 17:13:172013-12-31 17:13:17Cornerstone Buys Sunrise Office Building For $32M
A San Francisco investor has acquired the Preferred Exchange Tower in Coral Springs for $12.6 million, a steep discount from the 2005 price paid for the office tower.
BB University Drive, a company tied to San Francisco-based investment and development firm Bristol Group, purchased the nearly 203,000-square-foot tower at 3111 North University Drive, according to Broward County records. The county recorded the transaction today. No financing was recorded.
The seller is 3111 North University Drive Holdings, managed by loan servicing giant CWCapital Asset Management. The CWCapital company took title to the six-acre property after a November 2012 foreclosure auction. A commercial mortgage-backed securities trust managed by U.S. Bank won the auction and turned over the deed to 3111 North three months later.
Bristol’s purchase price is about $21 million less than what a company managed by New York-based Cabot Investment Properties spent to acquire the tower in March 2005. The Cabot company was hit with a $24 million foreclosure action in April 2012.
The tower was originally built in 1985. John Bell of Rockwood Real Estate Advisors marketed the property on behalf of CWCapital.
The Deerfield Country Club is set to be redeveloped into a business park.
Butters Construction plans to build the Hillsboro Technology Park, a 750,000-square-foot business park on the 74-acre golf course. The park would include 450,000 square feet of industrial space and 300,000 square feet of offices. As many as 1,500 employees could work on the site near I-95 and Hillsboro Boulevard.
Hillsboro Technology Park is expected to cater to technology businesses that need distribution space and offices. The city of Deerfield Beach would receive about $1 million in fees and permits and another $1 million in annual tax revenue.
https://sfoba.com/wp-content/uploads/2013/12/Malcolm-Butters.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2013-12-19 01:16:442013-12-19 01:16:44Butters To Convert Deerfield Golf Course To Business Park
Rick Miller, SIOR, RPA, FMA, a member of both the Brokerage Services Division and Global Corporate Services (GCS) Division of CBRE, serving as an exclusive agent on behalf of tenants and landlords of corporate real estate in Miami-Dade, Broward and Palm Beach Counties in South Florida since 2002, has parted ways with CBRE effective December 16, 2013.
From 2007 to 2011, Rick served as a Managing Director for CBRE’s South Florida region. In this position, Rick was responsible for the overall operations of the Boca Raton, North Palm Beach and Fort Lauderdale offices focusing on profit and loss, corporate leadership, customer satisfaction and strategic planning. He managed more than 75 brokerage professionals specializing in all areas of the industry and provided executive oversight to CBRE Florida’s Corporate Services account practice including the Ryder System, FPL, and SFN Spherion accounts.
After 11 years at the company, Miller said, “Ultimately, my goal is to get back to basics in this industry. I’ve worked for two Fortune 500 companies now and it is important to me to be a part of a smaller and more nimble operation. I am very driven by company culture and values. I have learned from experience that internal collaboration from top to bottom is critical to the success and health of any company.”
“Another aspect that I find important is providing best in class services to my clients regardless of their size. Our region, by nature, consists in large part of mid-size companies and small businesses. I’ve worked with plenty of large clients and Fortune 500 companies over the years. I plan to leverage that expertise to also assist small and mid-cap companies and provide them with the same representation that they often don’t receive because they get overlooked by our industry. At the end of the day, I want my clients to engage my services as if they were hiring me to work as an employee in their organization. Brand name, platform and size are one piece of the puzzle but to me it all boils down to people and how we connect with them,” he added.
Rick has been dedicated to corporate real estate in South Florida since 1987. Prior to his career with CBRE, Miller served as an associate with Cresa Partners, LLC in Miami, Florida.
He is currently evaluating various options as he spends the holidays with his family.
Avison Young has been awarded the exclusive leasing assignment for Pinnacle Corporate Park, a 260,000 square foot two-building office campus located at 500 and 550 West Cypress Creek Road in Fort Lauderdale.
Currently 84 percent occupied, the Park is one of the most highly sought after office locations in the Cypress Creek submarket, and brings Avison Young’s total square footage of Florida leasing assignments retained over the past 12 months to more than 425,000 square feet.
Principal Greg Martin and Senior Associate Peyton Moore with Avison Young’s Fort Lauderdale office will oversee the leasing activities for Pinnacle Corporate Park on behalf of the new ownership investment group led by Miami-based Banyan Street Capital and New York-based DRA Advisors.
“The exclusive leasing assignment of Pinnacle Corporate Park is a direct result of our effective approach to marketing the unique attributes of properties to retain and attract tenants,” said Martin. “Working with ownership, we plan to maintain the current success of the Park by identifying potential tenants positioned for the long-term.”
“With Broward County’s increase in employment, declining vacancy rates, and office building construction at a stand-still due to the lack of available land, the search for quality office space is prevalent among growing companies,” added Martin. “Pinnacle Corporate Park’s premier location and value in the market will allow us to secure gold-standard tenants within the buildings.”
https://sfoba.com/wp-content/uploads/2013/12/Pinnacle-Corporate-Park.jpg270275adminhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngadmin2013-12-11 21:12:012013-12-11 21:12:01AY’s Martin & Moore Awarded Pinnacle Corporate Park Leasing Assignment
CRE Rauch, Lupo, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Dade, Broward and Palm Beach counties.
Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward.
Commission and benefits commensurate with experience. Florida Real Estate License and Commercial Real Estate experience a must! Only qualified candidates should apply.
Cornerstone Buys Sunrise Office Building For $32M
/in Done Deals, News/by adminThe Lake Shore Plaza II office building in Sunrise has traded for $32 million.
A company managed by Fort Lauderdale-based Stiles sold the 1300 Concord Terrace building to TR Lake Shore Plaza on Dec. 17, according to Broward County records. The county recorded the transaction on Thursday.
TR Lake Shore is managed by Connecticut firm Cornerstone Real Estate Advisers, which has had a busy month.
Cornerstone partnered with Boca Raton-based Crocker Partners on the $71 million acquisition of downtown West Palm Beach office building Esperante Corporate Center. That purchase closed on Nov. 26.
No financing was recorded for the Lake Shore purchase.
The 128,000-square-foot building was completed in 2008 on nearly nine acres. Tenants include Global Medical Management and Travel Insurance Center.
Another Stiles-managed company sold the Gateway at Sawgrass retail center in Sunrise for $16 million earlier this month.
Source: The Real Deal
Coral Springs Office Building Trades
/in News/by adminA San Francisco investor has acquired the Preferred Exchange Tower in Coral Springs for $12.6 million, a steep discount from the 2005 price paid for the office tower.
BB University Drive, a company tied to San Francisco-based investment and development firm Bristol Group, purchased the nearly 203,000-square-foot tower at 3111 North University Drive, according to Broward County records. The county recorded the transaction today. No financing was recorded.
The seller is 3111 North University Drive Holdings, managed by loan servicing giant CWCapital Asset Management. The CWCapital company took title to the six-acre property after a November 2012 foreclosure auction. A commercial mortgage-backed securities trust managed by U.S. Bank won the auction and turned over the deed to 3111 North three months later.
Bristol’s purchase price is about $21 million less than what a company managed by New York-based Cabot Investment Properties spent to acquire the tower in March 2005. The Cabot company was hit with a $24 million foreclosure action in April 2012.
The tower was originally built in 1985. John Bell of Rockwood Real Estate Advisors marketed the property on behalf of CWCapital.
Source: The Real Deal
Butters To Convert Deerfield Golf Course To Business Park
/in News/by adminThe Deerfield Country Club is set to be redeveloped into a business park.
Hillsboro Technology Park is expected to cater to technology businesses that need distribution space and offices. The city of Deerfield Beach would receive about $1 million in fees and permits and another $1 million in annual tax revenue.
Although Butters’ proposal was met with opposition from residents, Deerfield and Broward County commissioners have approved the zoning change to accommodate the business park.
Source: The Real Deal
Industry Veteran Leaves CBRE
/in News/by adminRick Miller, SIOR, RPA, FMA, a member of both the Brokerage Services Division and Global Corporate Services (GCS) Division of CBRE, serving as an exclusive agent on behalf of tenants and landlords of corporate real estate in Miami-Dade, Broward and Palm Beach Counties in South Florida since 2002, has parted ways with CBRE effective December 16, 2013.
From 2007 to 2011, Rick served as a Managing Director for CBRE’s South Florida region. In this position, Rick was responsible for the overall operations of the Boca Raton, North Palm Beach and Fort Lauderdale offices focusing on profit and loss, corporate leadership, customer satisfaction and strategic planning. He managed more than 75 brokerage professionals specializing in all areas of the industry and provided executive oversight to CBRE Florida’s Corporate Services account practice including the Ryder System, FPL, and SFN Spherion accounts.
After 11 years at the company, Miller said, “Ultimately, my goal is to get back to basics in this industry. I’ve worked for two Fortune 500 companies now and it is important to me to be a part of a smaller and more nimble operation. I am very driven by company culture and values. I have learned from experience that internal collaboration from top to bottom is critical to the success and health of any company.”
“Another aspect that I find important is providing best in class services to my clients regardless of their size. Our region, by nature, consists in large part of mid-size companies and small businesses. I’ve worked with plenty of large clients and Fortune 500 companies over the years. I plan to leverage that expertise to also assist small and mid-cap companies and provide them with the same representation that they often don’t receive because they get overlooked by our industry. At the end of the day, I want my clients to engage my services as if they were hiring me to work as an employee in their organization. Brand name, platform and size are one piece of the puzzle but to me it all boils down to people and how we connect with them,” he added.
Rick has been dedicated to corporate real estate in South Florida since 1987. Prior to his career with CBRE, Miller served as an associate with Cresa Partners, LLC in Miami, Florida.
He is currently evaluating various options as he spends the holidays with his family.
Source: CRE-sources
AY’s Martin & Moore Awarded Pinnacle Corporate Park Leasing Assignment
/in News/by adminAvison Young has been awarded the exclusive leasing assignment for Pinnacle Corporate Park, a 260,000 square foot two-building office campus located at 500 and 550 West Cypress Creek Road in Fort Lauderdale.
Currently 84 percent occupied, the Park is one of the most highly sought after office locations in the Cypress Creek submarket, and brings Avison Young’s total square footage of Florida leasing assignments retained over the past 12 months to more than 425,000 square feet.
Principal Greg Martin and Senior Associate Peyton Moore with Avison Young’s Fort Lauderdale office will oversee the leasing activities for Pinnacle Corporate Park on behalf of the new ownership investment group led by Miami-based Banyan Street Capital and New York-based DRA Advisors.
The acquisition, which took place in November, is the second notable office building sale to close in the area recently, representing an uptick in investor activity within the steadily recovering Cypress Creek submarket.
“The exclusive leasing assignment of Pinnacle Corporate Park is a direct result of our effective approach to marketing the unique attributes of properties to retain and attract tenants,” said Martin. “Working with ownership, we plan to maintain the current success of the Park by identifying potential tenants positioned for the long-term.”
“With Broward County’s increase in employment, declining vacancy rates, and office building construction at a stand-still due to the lack of available land, the search for quality office space is prevalent among growing companies,” added Martin. “Pinnacle Corporate Park’s premier location and value in the market will allow us to secure gold-standard tenants within the buildings.”
CRE Firm Expanding In Dade, Broward And Palm Beach
/in News/by adminCRE Rauch, Lupo, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Dade, Broward and Palm Beach counties.
Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward.
Commission and benefits commensurate with experience. Florida Real Estate License and Commercial Real Estate experience a must! Only qualified candidates should apply.
Send resume to mail@crefloridapartners.com.