Florida Division Of Largest U.S. Healthcare Union Establishes South Florida Office

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At the Miramar Park of Commerce, 1199SEIU United Healthcare Workers East – Florida signed a new lease for 9,975 square feet of office space at 2871 Corporate Way.

1199SEIU Florida is a division of 1199SEIU United Healthcare Workers East, the largest healthcare union in the nation with more than 400,000 members in Massachusetts, New York, New Jersey, Washington, D.C. and Florida. In addition to its office in the Miramar Park of Commerce, which serves South Florida, 1199SEIU Florida also has an office in Tampa.

“1199SEIU Florida represents more than 25,000 healthcare workers in Florida’s hospital and nursing home industry,” said Monica Russo, 1199SEIU’s executive vice president for Florida. “1199SEIU Florida works to secure fair wages and benefits, safe work environments, paid time off, stable retirement, childcare, education benefits and more for its members, who in turn work diligently to provide high quality care in some of the largest for-profit and academic healthcare institutions in the state.”

1199SEIU Florida also advocates for its members, patients and communities through government and elected officials, working to help elect working-family-friendly candidates and drafting worker-friendly legislation.

 

JLL Reps Healthcare Technology Firm In Record Palm Beach Office Lease

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The JLL team of Barbara Liberatore Black, Managing Director; Alan Kleber, Managing Director; and Vice President Cameron Tallon just completed one of the largest office deals in the West Palm Beach market so far this year, according to a release.

The firm represented Modernizing Medicine, a healthcare technology company headquartered in Boca Raton, in an expansion of over 50,000 square feet. Modernizing Medicine will expand its operations to the Boca Raton Innovation Center (BRIC) and with this expansion will add a total of 838 jobs by 2022.

JLL represented the tenant in the lease transaction and its Project Development Services division is also overseeing the buildout of the new offices.

“As a health information technology leader born here in South Florida, Modernizing Medicine continues to drive innovation in the healthcare technology field with specialty-specific solutions for physicians. We worked closely with Modernizing Medicine’s leadership to ensure the expansion could accommodate its current operations and future growth,” said Black.

“This lease allows the company to expand its operations in the Boca Raton Innovation Center, while creating hundreds of new jobs and making a significant economic contribution to Palm Beach County. By leasing over 50,000 square feet, Modernizing Medicine will be able to grow its presence in a building known for hatching breakthrough innovations,” Black said.

Headquartered in Boca Raton, Modernizing Medicine was founded in 2010 by chief executive officer Daniel Cane and chief medical and strategy officer Dr. Michael Sherling and has quickly grown to more than 550 employees. The company empowers physicians with suites of mobile, specialty-specific solutions designed to transform how healthcare information is created, consumed and utilized to increase efficiency and improve outcomes.

Cane said, “We are extremely excited to expand our presence and create more jobs across a wide range of fields in South Florida. As a Florida-based technology company, it’s not lost on us that we’re in the backyard of where the modern day era of technology was born. We’re proud to work with Enterprise Florida, the City of Boca Raton and the Business Development Board of Palm Beach County to continue to enhance the already stellar reputation as an area of innovation and growth. I look forward to seeing the company’s long-term impact on the community as well as the modernization of medicine.”

 

 

Class A Boca Office Property Fetches $60 Million

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C. Talanian Realty Co. has purchased Peninsula Executive Center, an office development in Boca Raton, for $59.8 million.

The 187,784-square-foot, Class A office property, located at 2381 and 2385 Executive Center Drive, consists of two four-story office buildings and a 742-space parking structure.

The property is currently 97 percent leased and is anchored by Newell Brands.

HFF, led by Chris Drew, Hermen Rodriguez, Ike Ojala, Brian Gaswirth and Matthew McCormack marketed the property on behalf of the undisclosed seller. HFF also secured $33.5 million in long-term, fixed-rate acquisition financing through Principal Real Estate Investors on behalf of C. Talanian Realty.

 

Source:  RE Business

 

Broward Office Campus Changes Hands

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Executive University Courts, a 97,125-square-foot office campus in Broward County, has sold.

Cushman & Wakefield Managing Director Dominic Montazemi, Senior Associate Greg Miller and Executive Director Scott O’Donnell represented Kas University LLC in the disposition.

MYP Executive, LLC acquired the asset for $9.3 million, or $96 per square feet.

Executive University Courts comprises six, two-story inter-connected office buildings built in 1987. The buildings’ garden layout offers private tenant access to suites from a lushly landscaped courtyard with a tranquil water feature. Ownership’s modest capital improvements in the buildings have helped push occupancy from 50.0 percent to 84.1 percent in just three years.

Executive University Courts sits on a 5.9-acre site at 4300 North University Drive in central Broward County. This highly visible location is easily accessible via Florida’s Turnpike and the Sawgrass Expressway.

“The property’s visibility and above-average parking, as well as the strong population density in the immediate submarket, are tremendous demand drivers for potential tenants,” said Montazemi. “The layout of the buildings also provides tenants direct access to their suites and an enhanced level of privacy.”

“There is also significant potential to capture additional medical tenancy,” added Montazemi, noting there are four hospitals with over 1,000 beds within four miles of the campus. “Given the asset’s proximity to local hospitals, private access to suites, and restrooms within the tenant spaces, there is a strong case for adding value by strategically leasing additional space to medical-related tenants.”

 

JLL Closes Leases With Two Tenants Totaling 22,000 SF

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JLL announced the closing of a lease renewal with long-time tenant TD Bank and a new lease with Allied Integrated Marketing totaling 22,000 square feet of office space at Cypress Financial Center, a 198,528-square-foot class A office building in Fort Lauderdale.

The property, located at 5900 N. Andrews Ave., is owned by Steelbridge Capital, a privately held, value-focused real estate investment company based in Miami and Chicago.

Sandra Andersen, Senior Vice President at JLL, represented Steelbridge Capital in both transactions.

Existing tenant TD Bank renewed its 16,675-square-foot lease and was represented by CBRE Senior Vice President Mathew J. Saker, CBRE Vice President John Jaspert and CBRE Transaction Manager Caroline C. Barone.

Allied Integrated Marketing signed a new lease consisting of 5,325 square feet and will occupy the eighth floor of the building. Allied Integrated Marketing is a full-service agency with 22 offices working with the world’s largest entertainment, culture and lifestyle brands. The tenant was represented by Bob Orban, Senior Vice President, and Tyler Wyant, Associate, at Savills Studley.

“Cypress Financial Center is situated at the geographic center of South Florida, making it the most accessible location to the region’s six million residents, an attractive factor for companies seeking office space,” said JLL’s Sandra Andersen. “The property underwent extensive renovations last year, which has contributed to attracting and retaining top-quality tenants who are seeking an office location with high-end finishes and downtown prestige in a convenient uptown location.”

Cypress Financial Center is the only office complex in South Florida with a direct on-ramp to I-95. Recently completed renovations include upgrades to the lobby and select common areas, complete tower and garage elevator modernization, exterior painting and sealing, replacement of monument and directional signage, new landscaping and exterior lighting.

 

The Green Cos. Purchases Sabadell Financial Center

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The Green Cos. has purchased Sabadell Financial Center, a five-story, 102,007-square-foot office building located at 150 S. Pine Island Road in Plantation.

Clarion Partners LLC sold the Class A office building to Green Cos. for $19.3 million.

The property was 96 percent leased at the time of sale to tenants such as Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein PA.

Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented Clarion Partners in the transaction. James Bernstein, Elizabeth Green and George Brown led The Green Cos. internally.

Paul Stasaitis and Maxx Carney of HFF arranged the 10-year, fixed-rate, $12.5 million acquisition loan through Aegon USA Realty Advisors LLC.

 

Source:  REBusiness