DCOTA Brings 35,000 SF In New Tenants Aboard

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In a series of separate transactions that continues the upsurge of office leasing activity at owner/developer Charles S. Cohen’s Design Center of the Americas (DCOTA), nearly 35,000 square feet of office space has been leased at the distinctive 30-acre, three-building Class A corporate center, bringing the total square footage of office deals to-date to over 100,000 square feet.

In the largest transaction, Magic Leap, a cutting edge digital animation and cinematic reality experience creator, has leased 11,500 square feet on the 4th floor at 1855 Griffin Road for its corporate offices.  The company, which is relocating from Hollywood, was represented by Bennett David of Sara David Realty, Inc.  John Criddle and Jon Blunk of Cushman & Wakefield of Florida, as well as Marc Horowtiz and Jennifer Doering of Cohen Brothers Realty, represented the landlord in the 8-year leasing transaction.

In another recent transaction, Orthosenor, Inc., a developer of orthopedic devices and real-time medical software, has leased 10,000 square feet on the 3rd floor for its new southeast headquarters.  The company is relocating from Sawgrass Corporate Park in Sunrise. John Criddle and Jon Blunk of Cushman & Wakefield of Florida, as well as Marc Horowitz and Jennifer Doering of Cohen Brothers Realty, represented both the tenant and the landlord in the 6-year leasing transaction.

Also relocating to DCOTA is ALS Management Solutions, LLC, a mortgage and loan servicing business which has taken 7,997 square feet of office space on the 3rd floor for its new Broward County headquarters. The company, which is currently located in Cypress Creek, was represented by Alex Brown of Cresa Partners in the nine-year transaction.

And finally, Empire Estate Holdings LLC, a newly formed internet marketing firm, has leased 5,300 square feet. Travis Herring of CBRE represented the tenant while John Criddle and Jon Blunk of Cushman & Wakefield of Florida, together with Marc Horowitz and Jennifer Doering of Cohen Brothers Realty, represented the landlord in the 7-year leasing transaction.

According to John Criddle and Jon Blunk of Cushman & Wakefield of Florida, exclusive office leasing agent for DCOTA, the 775,000-square-foot property, outstanding amenities, central location and close proximity to major highways were key factors in attracting all four tenants.

“While the property is extremely popular in the art/design community, we are seeing a strong uptick in leasing activity from non-design tenants as well,” Criddle said, noting that the new deals come on the heels of two other notable recent office transactions at the complex, including a 15,069-square-foot lease for Avis Budget Group and a 9,406-square-foot lease for Hull & Company.

Charles S. Cohen heads a multi-faceted real estate development company that owns and manages over eleven million square feet of prime Class A Manhattan, West Side Los Angeles and Houston commercial space. Among his signature New York commercial properties are 623 Fifth Avenue, 135 East 57th Street, 805 Third Avenue, 750 Lexington Avenue, 622 Third Avenue, 979 Third Avenue, 3 East 54th Street, 475 Park Avenue South, the D&D Building at 979 Third Avenue and 333 Westchester Avenue in White Plains, NY.

Steve Heim Parts Ways With RWNK

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Stephen A. Heim, CCIM, has recently joined forces with Randy Rauch in the formation of Rauch Heim Commercial Real Estate LLC.

Randy and Stephen worked together for five years while at NAI Rauch Weaver Norfleet Kurtz (RWNK) prior to Randy leaving in 2011 to form Rauch Realty Group LLC. Heim joined RWNK in February 2006, most recently serving as Executive Advisor.

As partners, Rauch and Heim will bring over 60 years of experience to their new firm.

Rauch and Heim were both raised in South Florida followed by many years being actively engaged in the real estate industry, As a result, they have developed an extensive network of clients, developers, investors, brokers, community business leaders and contacts throughout the South Florida region.  Rauch is well known in the industrial sector while Heim is equally well known in the office market.  Heim is delighted to return as a principal to a boutique firm where he intends to continue to develop an advisory practice dedicated to a select and growing list of clients.

Rauch Heim Commercial Real Estate is located at 290 SW 12th Avenue, Suite 11, in Pompano Beach.  Heim can be contacted at 954-703-2325 / sheim@rauchheim.com.

KRES Commercial Joins Forces With Global Real Estate Resources

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KRES Commercial, a wholly owned subsidiary of The Keyes Company, is pleased to announce the merger with Global Real Estate Resources, LLC.

Global Real Estate Resources is a boutique commercial real estate brokerage founded by Meriel “Honey” Bryan, the firm’s President and CEO.

“We are extremely pleased Honey Bryan is joining our team as Director of Retail Properties giving us an immediate entree’ into the Retail Property Group.”, said John Geisen, Executive Vice President of KRES Commercial. “In addition to her familiarity with retail, Honey has been very involved in almost all aspects of commercial real estate, including office, industrial, land development, and investment sales.”

Bryan is a native of Palm Beach County with a lifelong career in commercial real estate and financing. She has served as a consultant and collaborated extensively with clients and land planning professionals to facilitate land use and zoning changes of land for the development of multi-family, retail and industrial projects.

Ms. Bryan is active in numerous professional organizations such as the National Network of Commercial Real Estate Women (NNCREW) and the International Council of Shopping Centers (ICSC). She currently serves on the Planning and Zoning Appeals Board for the City of Palm Beach Gardens  is also a board member of the Foundation for Living Arts.

“I’m very excited about joining KRES Commercial,” said Bryan. “I believe my affiliation with KRES provides me the platform and opportunity to continue providing the high level of service my customers have grown accustomed to receiving from me.”

 

About KRES Commercial:  Keyes created KRES Commercial to provide a superior level of real estate service to national, regional and local real estate owners throughout Palm Beach County and South Florida. KRES Commercial is a full-service commercial real estate company, specializing in office, industrial, retail, land and multi-family properties. Services include leasing, management, sales and asset services to local, regional and national clients.  For more information, please call 561.405.4940 or visit http://www.krescommercial.com.

CBRE’s Owen Sager Tapped To Lease Deerfield Beach Portfolio

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CBRE has been awarded the exclusive leasing assignment of Financial Centre and Pine Tree Plaza, 5 office buildings totaling 166,968 square feet in Deerfield Beach. CBRE will work with the owner, Scott Properties, to market 45,000 square feet of availability in the buildings. The owner previously provided their own leasing services.

“I am very excited about the opportunity to help reposition and increase occupancy for these assets,” said Owen Sagar, CBRE Vice President. “Financial Centre and Pine Tree Plaza offer a great opportunity for businesses looking for convenient I-95 access with local amenities, and strong ownership behind their building. We look forward to representing Scott Properties and these assets.”

Built from 1986 through 1998, the buildings are located on the north-east corner of Hillsboro Boulevard and Military Trail. The buildings are situated within a vibrant business district that provides tenants with excellent access to multiple modes of transportation, as well as proximity to hotels, dining, shopping and entertainment options.  Major tenants include Bank of America, SunTrust and Harte-Hanks.

The properties include three office buildings consisting of 110,000 square feet, and two flex space buildings totaling 56,968 square feet.  Properties in the portfolio contain:

  • Financial Centre East: one four-story office building totaling 40,000 square feet at 1701 W Hillsboro Blvd.
  • Financial Centre West: one four-story office building totaling 40,000 square feet at 1761 W Hillsboro Blvd.
  • Financial Centre North: one three-story office building totaling 30,000 square feet at 300 Lock Road.
  • Pine Tree Plaza: two single-story office/flex buildings totaling 56,968 square feet located at 1525 & 1531 NW 3rd Street.

The portfolio offers a variety of office and flex space availabilities ranging from several hundred square feet to a large block of more than 25,000 square feet.

CBRE’s Vice President Owen Sagar will serve as the leasing broker for the portfolio.

Boynton Beach To Proceed With Major Development Project

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The Boynton Beach Community Redevelopment Agency accepted a request that could change the face of the city’s downtown.

After discussion and community input, the CRA board decided that it will negotiate a plan with One Boynton Realty for development of an 11-story mixed use tower, a 12-story mixed use tower, an 11-story hotel and a 50,000 square-foot national headquarters for law firm, Kanner and Pintaluga at 222 N. Federal Highway, at the southeast corner of Boynton Beach Boulevard and Federal Highway.

The law firm, which started in Boynton in 2003, moved to Delray last year and could potentially come back to the city with 200 jobs, said executive director Vivian Brooks.

The law firm is also looking at two properties in Delray Beach, but the city feels like it is at a point where it can compete.

The city issued a request for developers on the North Federal Highway property in February. The One Boynton Realty/Kanner and Pintaluga project was the only bidder by the April 5 deadline.

The proposed project is anticipated to be completed in four phases:

  • Phase 1 (April 2013-February 2015): Six-story, 50,000 square feet of offices over 300-space garage. Proposed anchor: Kanner and Pintaluga law firm.
  • Phase 2: (January 2014-April 2017): Twelve-story, 183-unit residential tower at north end of site; seven floors of apartments over 506 space garage, as well as retail and office space.
  • Phase 3: (June 2015-June 2018): Eleven-story, 99-unit residential tower on south end of site.
  • Phase 4: (January 2016-January 2019): 12-story, 120-room hotel at south end of site, with 120 parking spaces.

 

Source:  Sun-Sentinel

Payment Processing Company Inks 25,000 SF Deal

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Payment processing company United TranzActions has signed a lease for 25,000 square feet in Miramar.

Caroline Fleischer, Cushman & Wakefield, associate director, tenant representative services, represented UTA in the lease at 3200 Executive Way.

With the new space, the tenant is able to locate all operations in one contiguous suite and UTA got a higher-than-average parking ratio, both of which were important values for the company.

 

Source:  SFBJ