Dyana Kenney Returns Home To Penn-Florida

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Dyana Kenney, who spent the last three and a half years as Vice President at Flagler Real Estate Services’ West Palm Beach office , has moved on to a new role.

Effective February 20th, Ms. Kenney has joined Penn-Florida Companies as Executive Vice President/Director of Leasing.  The lay of the land over at Penn-Florida is all too familiar to Dyana.  She spent 7 years as Vice President with Penn-Florida Companies back in the late 90s through early 2000.

Dyana’s new contact information is:

Dyana Kenney
Executive Vice President/Director of Leasing
Penn-Florida Companies
1515 North Federal Highway, Suite 306
Boca Raton, Florida  33432
dkenney@pennflorida.com

Business Line:  (561) 750-1030
Direct Line: (561) 955-1372
Mobile:  (561) 866-3359

DCOTA Undergoing Multi-Million Dollar Renovation

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The 775,000-square-foot Design Center of the America is undergoing major renovations to further enhance the Class A Corporate Center.

The several million dollars investment includes new corridors, restrooms, elevators, state of the art lighting, a complete renovation of the atriums, monument signage for office space, additional windows, new landscaping and a complete transformation to the image and branding of The Design Center of Americas.

The new leasing strategy is a big change, converting up to 250,000 square feet of the third and fourth floor space in Buildings A and B into offices and keeping Building C only showrooms.  A strategy of mixed-use will complement the current showroom mix and leverage the high name recognition of the property because of its proximity to Interstate 95.

Recent transactions at the Office Center include a 17,000 square foot office lease to Avis Rent A Car to a 17,000-square-foot office lease, as well as deals with Hull and Company and the Miami Board of Realtors.

Charles Cohen, president and CEO of DCOTA owner Cohen Brothers Realty Corp., is currently in negotiations to lease an additional 70,000 square feet to four prospective office tenants.

DCOTA, located 1815 & 1855 Griffin Road in Dania Beach, offers a unique corporate environment with ease of access to all major expressways and the Fort Lauderdale Airport, with aggressive lease rates, ample free parking and a turnkey delivery. Available spaces range  from 2,000 square feet to 100,000 square feet.

For more information please contact Viktoria Telek, CCIM, Office Leasing Director at 954.628.5534.

Broward And Palm Beach At Opposite Ends Of Vacancy Spectrum

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By Eric Messer

Broward County has the lowest vacancy rate reported in South Florida.

However, the area’s strong ties to the residential sector is expected to hinder sizeable job growth through the coming year.

No significant shifts are expected for the office sector in Fort Lauderdale and its suburban submarkets. A balance between demand and supply will likely continue through the majority of 2012.

Renewals and relocations will continue to dominate transaction activity as tenants in the market take advantage of space opportunities.

Conversely, the Palm Beach market holds the highest vacancy rate throughout Florida.

The market continued its leveling recovery as sluggish economic growth and lackluster improvements in the housing sector hinder significant expansions in employment. The office sector has seen moderate declines in vacancy since the 23.8 percent peak in first quarter of 2010.

To view the reports in their entirety, click on the links below:

4Q11 Broward Office Market Trends Report

4Q11 Palm Beach Office Market Trends Report

 

Eric Messer is Research Services Manager for Grubb & Ellis Company in Boca Raton. He can be reached at eric.messer@grubb-ellis.com.

Corporate Center Has New Representation…Again.

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Not only are local brokers playing musical chairs.  It seems as though Cabot is also in on the game with the leasing representation of Corporate Center.

Now that Mike Wilson has departed Grubb & Ellis and joined CBRE, Robert McCullough has officially taken over the leasing assignment at Corporate Center.

If you recall, Mike Wilson had been awarded the assignment after Deanna Lobinsky and her team pulled out of their leasing representation agreement with Corporate Center in September, along with all of their other Cabot assignments.

More Brokers Opt For Greener Pastures

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Seems to be the season for the changing of the guards.

Last week, we reported that Owen Sagar and Michael Wilson both set up shop with CBRE.

Since then, we learned that Maggie Kurtz and Diana Parker have also abandoned their ship at Cushman & Wakefield to set sail with CBRE.

Maggie and Diana each have over 20 years experience in South Florida. They have gained notoriety for their extensive experience in marketing Class A office developments as well as providing tenant representation to many Fortune 500 companies. Both Kurtz and Parker join CBRE as Senior Vice Presidents.

Their extensive experience is underscored by their alignment with the development and leasing of high caliber office parks. Clients have included Equitable Life Insurance Company, Tishman Speyer Properties, ING Clarion, USAA Realty, Deka Immobilien GmbH, The Graham Companies and Testa Inmuebles to name a few.

A sampling of the team’s tenant representation clients includes Elizabeth Arden (corporate headquarters relocation), Starbucks Corporation, Cordis Corporation, Hewlett-Packard Company, Johnson & Johnson (Latin America headquarters) and General Electric.

We also discovered that Richard Schuchts and Jones Lang LaSalle parted ways in December and Richard has set up his own shop, SQFT Capital Advisors, where he will continue to service both owners and tenants.

Joe Byrnes rounds out our musical chairs report.  Joe recently joined the ranks at Berger Commercial.  Joe has 25 years of experience in many facets of the commercial real estate business, spending the last 13+ years with ComReal Ft. Lauderdale.

Sagar And Wilson Find New Home

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Owen Sagar and Michael Wilson have both parted ways with Grubb & Ellis, and have set up shop with CBRE, effective this past Monday, January 23rd.

Owen, held the position of Senior Vice President with Grubb & Ellis Company since 2004. Mike also was a Senior Vice President, based in the Boca Raton office.

Both Owen and Mike will work together as a team in their new roles and have, reportedly, taken their listings with them.