Deborah Fink, Jeff Kelly Sign 40,000 SF Tenant

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CBRE has completed a major 39,788 square foot lease for a Professional Services firm at an office building within The Arbors Campus in Delray Beach, a 245,000 square foot office campus.

Senior Vice President Jeffrey Kelly joined Deborah Fink on the CBRE team representing the landlord.  CBRE’s Jay Dowlen, Charlie Carrocio and John Jaspert represented the tenant. The name of the Professional Services firm has not been disclosed.

The transaction placed the firm at 1615 Congress Avenue and furthers a significant increase in occupancy levels since a change in ownership and management took place less than a year ago.

“Within the past six months, more than 64,000 square feet of new leasing and tenant move-ins have been accomplished at The Arbors,

New ownership and CBRE’s leasing and management teams, coupled with an exceptional campus location and economic value, have attracted prestigious new tenants such as Hospice of Palm Beach County, Regus and a notable Professional Services firm,” said CBRE Vice President Deborah Fink.

Managed and leased by CBRE, The Arbors was purchased by 1615 Arbors North Associates, LLC an affiliate of RexxHall Realty, LLC, based in New Rochelle, NY, through the CBRE Private Capital Markets group one year ago. In that time, the three-building campus has moved from 45% to 66% occupancy.

“The efforts of the CBRE team, combined with ownership’s attention to tenant needs and detail, has given The Arbors a real competitive edge in the marketplace,” said Daniel Stauber, Managing Director of RexxHall Realty, LLC.

Carrocio and Jaspert are a part of the newly formed CBRE Florida Occupier Service Practice Group. Coldwell Banker’s Ingrid Fulmer and Andrea Raskin-Lapis represented Hospice and Jones Lang LaSalle’s Scott Goldstein and Keith Edelman represented Regus.

Sperry Van Ness Sells Pompano Office Building In All Cash Deal

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Sperry Van Ness Commercial Realty has brokered the sale of Headquarters at Gateway Lake office building in Pompano Beach for $2,135,000, or $63.36 per square foot. The all cash deal closed on February 15, 2013.

Joel A. Kattan and Hernan Prohaszka represented the seller, PBE Companies, LLC.

The three story, 33,695 SF,  Class “B” office building located at 1280 SW 36th Avenue went into foreclosure in 2010 and suffered from high vacancy and deferred maintenance. Sperry Van Ness Commercial Realty was exclusively retained by the bank to handle the sale of the property upon taking control of the asset.

“We feel this deal represents a very good ‘price-per-pound’ considering that asking lease rates in the immediate submarket are above $10 per square foot, resulting in a considerable upside potential,” said Joel A. Kattan, Senior Advisor at Sperry Van Ness Commercial Realty.

Doral Retail Center Holdings, LLC, the buyer, plans on making significant capital improvements in order to stabilize the asset.

“No doubt, the beautiful lake views and campus-like setting combined with the proximity to major thoroughfares and nearby amenities will draw excellent tenants once the renovations are completed,” said Hernan Prohaszka, Senior Advisor at Sperry Van Ness Commercial Realty.

Sperry Van Ness’ Joel A. Kattan and Hernan Prohaszka have represented banks in the disposition of four REO properties from the fourth quarter of 2012 through now, and with more to come.

Mady Garcia Negotiates 9,500 SF Expansion

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Emerson, a global manufacturing and technology company, announced its second expansion in two years of its Latin operations in South Florida.

According to Stiles Realty director of leasing, Madelayne Garcia, who represented the landlord, Emerson will expand by 9,500 square feet, where it already has 18,000 square feet at Stiles’ Lake Shore Plaza II office building.

Emerson said it will invest $400,000 to renovate the newly leased space and create about 20 new jobs. The renovation will be designed by Stiles Architectural Group and managed by Stiles Tenant Improvement Services.

Lake Shore Plaza II is a 130,000-square-foot multi-tenant office building located in Sawgrass International Corporate Park at the intersection of I-75 and I-595 and the Sawgrass Expressway. The building is certified LEED Silver by the U.S. Green Building Council and boasts numerous energy-efficient and environmentally friendly features, including an indoor air quality system, water-conserving features, recycling program, pest management system, and preferred parking for hybrid and energy efficient vehicles.

Commercial Florida Realty Brings Hillsboro Center To 95% Occupied

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Boca Raton based Commercial Florida Realty Services has leased 73,146 square feet of office space at the 116,000 square foot Hillsboro Center, located at 600 West Hillsboro Boulevard in Deerfield Beach.

The leases include a new lease with Pylon Manufacturing Corp (10,229 SF), expansion of The Ticktin Law Group (13,712 SF), expansion of Old Republic Tile Insurance Co. (9,441 SF) and the expansion of Dart Container Company (39,764 SF)

“What’s most encouraging is the majority of the Hillsboro Center leasing has come organically, which is a good indicator that the overall economy may well be on the upturn,” stated Peter D. Reed, Managing Principal at Commercial Florida Realty Services, Hillsboro Center’s exclusive leasing firm.

Hillsboro Center is owned by Parkway Properties, Inc., a publically-traded real estate investment trust (NYSE symbol: PKY).

Berger Closes 10,000 SF Lease

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Berger Commercial Realty has closed a 10,000-square-foot lease on behalf of Black Oak Partners at 2005 Vista Parkway in West Palm Beach, the brokerage announced.

Berger’s Joseph Byrnes and Greg Milopolous handled the deal for the two-story suburban office building property.

Black Oak had bought the property for $3.73 million in July from Design Arts of Palm Beach. Since that time, Berger’s Tim Hackett has managed the 41,899-square-foot property.

Keith Darby, Viktoria Telek Unload Museum Plaza Office Condo

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Keith Darby, along with Viktoria Telek, represented the buyer in the purchase of a 16,084-square-foot office condominium in Fort Lauderdale’s Museum Plaza office tower.

The property, which is located at 200 South Andrew Avenue, had been bank owned at the time of sale. Terms were not disclosed.

Darby launched a boutique firm, Rise Realty, in September 2012, parting ways with ComReal Ft. Lauderdale, where he served as Corporate Services Advisor since July 2007.

Viktoria Telek joined Darby at Rise Realty in November.  Telek served as Commercial Real Estate Associate with ComReal Ft. Lauderdale for 8 years, leaving in December 2011 to join Cohen Brothers Realty Corp.  At Cohen, Telek served as leasing representative for DCOTA.