Former NAIOP Director Joins The Retail Bus Tour

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Stuart Hodes, former NAIOP South Florida Executive Director, has joined The Retail Bus Tour as Managing Director.

Stuart will focus on the existing company operations as well as assist in the national expansion throughout the country.

Gary Broidis, Principal, said the company is focused on expanding the company’s operations nationally. “Stuart brings a unique blend of operations knowledge and familiarity with our business model that will allow us to continue to grow and expand and we are excited to have Stuart join our organization,” said Broidis.

Mr. Hodes will be responsible for the general operations of the Retail Bus Tour. “I’m excited about working with the Retail Bus Tour and look forward to expanding our activities beyond the South Florida, Orlando, and Atlanta markets.” The 33-year management professional is a marketing and operations specialist with a focus on providing quality customer service.

The Retail Bus Tour provides an informative property marketing and networking venue exclusively serving the retail real estate industry. The Retail Bus Tour operates in markets throughout the Southeast and provides a marketing and networking venue for shopping center owners, brokers, retailers and service providers seeking to market their properties, network with other professionals and gain valuable industry and market information.

West Palm Office Building Goes On Market For $16.5M

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CBRE, Inc. has been hired to sell the Sabadell United Bank Building, a 12-story, 113,567 square foot asset in West Palm Beach, along with its five-level structured parking garage.

The asking price is $16.5 million, or $145 per square foot.

Built in 1980, the building is 86.9 percent occupied. The occupancy of the building is expected to decrease to 80 percent with the pending relocation of Rosenthal & Levy. Outside of Rosenthal & Levy, 19.4% of leases are expiring on a PSF basis through 2014.

PEBB Enterprises of Boca Raton purchased the Sabadell United Bank Building, located at 1645 Palm Beach Lakes Blvd., and the Horizons Building, located at 1401 Forum Way, in November 2011.

The combined purchase price was $14,250,000 for the two buildings.

Since then, the property has been significantly repositioned with over $700,000 in common area and building system improvements.

 

Source: CityBiz

Geisen & Burst Join Forces

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The Keyes Company is announcing a merger with Burst Commercial Real Estate Services, Inc., in order to form a new entity specializing in commercial real estate.

John Geisen, Executive Vice President, will direct the new company, KRES Commercial, a subsidiary of The Keyes Company.  Mr. Geisen was formerly associated with CB Richard Ellis and Codina / Flagler Real Estate Services. According to Mr. Geisen, “We feel the merger with Burst Commercial demonstrates our commitment to the commercial real estate market, and will help expand our presence in South Florida.”

Burst Commercial Real Estate Services was founded by Tom Burst in 1996, and has been a strong influence in the commercial real estate market ever since. Burst has been active in commercial real estate since 1986 when he first worked with Geisen at CBRE. According to Mr. Geisen, “It seems very natural that Tom and I would reunite after having worked together more than 20 years ago.” Burst, who will serve as Director of Properties at KRES Commercial, commented “I like the idea of putting the old team back together; it will be fun.”

The Keyes Company is expanding in order 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 will focus on the sale, leasing, and management of office, industrial and retail commercial properties. “This is the best team to provide the highest level of service to our commercial clients,” said Mike Pappas, President and CEO of The Keyes Company.

Wave Streetcar Project Awarded $18 Million Grant

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The Wave Streetcar Project was awarded an $18 million transportation TIGER grant from the Federal Transit Administration.

This project has been the work of a regional team of partners that includes the South Florida Regional Transportation Authority (SFRTA) project sponsor, the Downtown Development Authority (DDA), the Broward Metropolitan Planning Organization (Broward MPO), Broward County, Broward County Transit (BCT), the City of Fort Lauderdale, and Florida Department of Transportation (FDOT). The Wave is viewed as an important next step in creating a regional transit framework that will greatly enhance the economic development, livability, and environment of South Florida.

The first phase of the project will eventually have streetcars running along a 2.7-mile corridor in Downtown Fort Lauderdale and is anticipated to open in late 2015.

Kristin Jacobs, Chair of the South Florida Regional Transportation Authority and Vice Mayor of Broward County said, “I am very excited about the future of Broward County with the Wave Streetcar. Creating a sustainable community through transit options and being environmentally responsible have long been among my priorities. This project exemplifies what can result when federal, state, and local governments and agencies partner together for the good of the community. Without the generous support of the Federal Transit Administration and the collaboration of the Florida Department of Transportation, Broward County, the South Florida Regional Transportation Authority, Downtown Development Authority, the Metropolitan Planning Organization, the City of Fort Lauderdale and Broward County Transit, this project would not have come to fruition. We look forward to not only this first phase but to the successful expansion of this system to the west to bring in our sister cities with more choices for mass transit in the future.”

The Broward MPO’s Executive Director, Gregory Stuart commented, “The Wave streetcar will enhance existing transportation choices, radiating out from the Broward MPOs first (funded) mobility hub; the Gateway hub itself is a multi-block location that offers private developers the opportunity to build in a location where multiple boarding’s and alighting’s will occur. The Wave streetcar is a critical starting point for implementing the MPO Board’s vision, to transform transportation options in and around Broward County.”

“The Wave Streetcar is a key investment in the future of the City of Fort Lauderdale,” said Fort Lauderdale Mayor John P. “Jack” Seiler. “It will provide enhanced mobility and connectivity throughout our downtown, stimulate economic development, and promote long-term sustainability by offering a quick, convenient and environmentally-friendly public transportation alternative.”

“I believe this is taking our downtown to the next level. This type of infrastructure investment will increase private development by six-fold in and around our downtown. It will lead to improvements such as new housing, fun and exciting shops, boutiques, and galleries. This investment will further eliminate our blighted empty lots, improve drainage, and create a vast system of pedestrian improvements with sidewalks, shade trees, street lighting, and crosswalks,” said DDA Executive Director, Chris Wren.

Colliers Lists Class A Cypress Creek Office For Lease

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Colliers International South Florida is pleased to announce that Senior Commercial Associates Sal Bonsignore and Clinton Casey have been appointed the exclusive leasing agents for 1201 W. Cypress Creek Road in Fort Lauderdale, FL.

The 110,500-square-foot Class A office building is part of the 24-acre Crown Center green campus. Crown Center is the only “for profit” LEED Certified Campus within the State of Florida. Office spaces available at the property range between 5,000 to 16,000 square feet.

“We are truly excited to begin working with the Ownership at Crown Center,” says Bonsignore. “They have a great reputation for creating and maintaining the class A office campus. We are glad to be part of their marketing and leasing team.”

The 470,000 SF Crown Center campus consists of six buildings and is home to numerous large corporate tenants including Sanford-Brown, CruiseOne, and Brown & Brown Insurance.

Steve Einhorn Locked Up

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Yep, Steve Einhorn’s in the slammer.

For the last 14 years or so in June, Steve goes to “Jail” to raise money for the American Cancer Society so that they may continue the fight against this horrible disease that affects almost everyone.  The last couple of years have been tough on a lot of people and that is why it’s even more important to reach deep and do all you can to help.

So many of you come through for Steve each year, for which he is very grateful.  This year, he’s asking if you would serve as a “Jailbird” along with him.  It is fun and a great networking opportunity.  It will take about an hour to an hour and a half any day up to and including Friday, June 29th.

A continental breakfast is served to the Jailbirds in the morning and a sandwich lunch for those there later.

Date:              Tuesday, June 26 through Friday, June 29

Time:             9:00 AM – 4:00 PM (every day)

Place:            Sheraton Fort Lauderdale Airport and Cruiseport Hotel
1825 Griffin Road
Dania Beach, FL 33004

 

If you are out of town, a nice check made out to The American Cancer Society and mailed to Steve c/o Epic Properties, 6521 Orange Drive, Davie, FL 33314 will suffice.