Stiles Grows Team With Addition Of Lee Wheeler

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Local commercial real estate veteran Lee Wheeler has joined Stiles Realty.

Wheeler, a 34-year real estate professional, joined the company on February 3rd as senior advisor, reporting to Stiles Realty President Paul Marko. He will be based out of Stiles’ headquarters in Fort Lauderdale. This strategic hire comes at a time when Stiles Realty looks to build on the momentum it is creating in core markets throughout Florida, where it has recently expanded its team.

Wheeler specializes in investment sales, land brokerage and build-to-suit commercial properties. Over the course of his career, he has completed more than $2.5 billion in sales transactions ranging from urban office sites to large planned development communities. In this new role, Wheeler will focus on growing the firm’s footprint across Florida while leveraging Stiles’ diverse range of services.

“Lee is highly trusted in our industry with a tremendous track record of completing large transactions and establishing lasting client relationships,” said Marko. “His strength and experience in the build-to-suit and land arena is synergistic with Stiles’ multi-faceted business platform, which includes development, construction management, architecture, and property management.”

Throughout his career, Wheeler has represented major institutional owners and developers including Equitable Life, General Electric, The St. Joe Company, Teachers Insurance and Annuity Association, Duke REIT, Codina/Flagler Development and the MacArthur Foundation.

Stiles Realty offers a full-service real estate brokerage platform focused on industrial, office and retail properties. Additionally, Stiles Realty launched its Investment Sales division in late 2012, with a focus on high-profile quality office and retail opportunities below $12 million.

“Stiles is a very strong company that has established a stellar reputation over its decades of success in Florida,” Wheeler said. “I am excited as I see the potential for significant growth in Stiles Realty on top of that foundation. I feel confident that my broad and varied outlook gives me the insight into how we can meet the evolving needs of our diverse clients while achieving the goals of Stiles Realty,” Wheelersaid.

Prior to joining Stiles, Mr. Wheeler served as a principal and broker for Miami Land Company, where he focused on land acquisitions for development companies, site entitlements, zoning and government approvals. He spent ten years with the Codina Group where he focused on land and investment sales. Mr. Wheeler held an eight-year assignment with the MacArthur Foundation, where he was responsible for the disposition of more than 60,000 acres of commercial land, 10,000 apartment units, and over one million square feet of office, industrial and retail properties.

“Lee brings to our company a valuable skillset that adds depth and versatility to our growing team,” commented Marko. “I have known him for many years and am grateful to have him aboard as we continue to grow our business and look toward the future.”

 

John Geisen Joins Colliers As Executive VP

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Colliers International South Florida is pleased to announce that John Geisen has joined the company as Executive Vice President based out of the Colliers International Palm Beach office at 224 Datura Street in West Palm Beach.

Geisen is a past president of both the South Florida and Florida statewide chapters of the National Association of Industrial and Office Properties (NAIOP), and served on NAIOP’s national board.

“John is a respected leader and deal maker,” saysStephen Nostrand, CEO of Colliers International South Florida. “His depth of knowledge and the relationships that he has nurtured say so much about his reputation. When John and I worked together at Flagler, he was my mentor and now we have the incredible opportunity to have him as part of our growing Palm Beach, Martin and St. Lucie county business. We sincerely welcome one of the giants in our business.”  

Previously, Geisen was president of the brokerage division of Flagler Development Group, responsible for the leasing and management of 23 million square feet of office, industrial and retail space throughout Florida. Previously he was Senior Vice President/Senior Managing Director withCBRE. During his 20 years with that firm, he expanded their offices in Palm Beach, Broward, and Miami-Dade counties and was responsible for overseeing activities in the tri-county market.

“Colliers has all the right ingredients, from its national and international platform, as well as its entrepreneurial spirit; an international company with a strong local presence,” saysGeisen. “I’ve watched as Colliers has grown from an excellent network to an international powerhouse. While the firm’s growth has been incredible, there are still tremendous opportunities in the northern South Florida markets that I look forward to capitalizing on.”

A member of the Business Development Board of Palm Beach County, Geisen is also active with the Broward Alliance and the International Council of Shopping Centers (ICSC). He is a past president of the Executive Association of Palm Beach County.

 

George Sacks, S&K Worldwide Team Up On Broward Project

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Commercial Florida Realty Services and real estate investment group S&K Worldwide Realty see demand for Broward corporate relocation and expansion office space turning upward faster than expected.

“The re-energized economy has more companies looking to relocate or expand in Broward, but their need for ample office space is colliding with market realities, especially along the I-95 corridor,” said George Sacks, Commercial Florida Realty managing partner.

Southlake PlazaTo offer users seeking signage and space along I-95 expanded options, S&K Worldwide Realty has partnered with Sacks’ firm to bring to market several contiguous spaces of 10,000 to 20,000 square feet at Southlake Plaza in Newport Center business park, Deerfield Beach.  Prospective tenants can choose to lease just the space they need, or buy either of two multi-tenant buildings, occupy a portion and gain built-in cash flow from existing credit tenants such as JPMorgan Chase and AT&T.

At one of Southlake Plaza’s two-story buildings, 1400 Newport Center Drive, for example, the partnership is marketing a 20,000-square-foot full floor in the same building where JPMorgan Chase signed a 12-year lease in 2013.  “Broward’s suburban office rents along I-95 have stabilized and begun rising,” Sacks explained.  “Companies see higher space costs ahead, whether they lease or buy.  A business that occupies its own building with credit tenants carrying some of the load, can substantially limit risk, lock in costs and locate in higher profile space,” he said.

“Growing companies need to look at the balance sheet impact of leasing, buying or constructing a single-user building,” Sacks added.  “Broward’s office inventory is not yet low enough to trigger new construction, and developable land along I-95 is rare and costly.”  More relocating and expanding firms, he said, are considering buying a multi-tenant building.

Southlake Plaza weathered the recession with strong tenancy, thanks in part to its location within the 119-acre Newport Center business park, Sacks said.  Most of the park’s buildings are owned, not leased, and corporate neighbors in the park include the University of Miami Sylvester at Deerfield Beach cancer center, MAPEI Americas, Staples’ back office operations, as well as two hotels.

According to S&K Worldwide Realty President Dirk Kuczurba, “We purchased Southlake Plaza many years ago, recognizing the opportunity to build long-term value in a property with an ideal location.”  S&K and its related companies and partnerships own, develop and manage commercial and industrial real estate throughout Europe and the U.S., and have invested more than $650 million in Florida land, office, industrial and retail facilities.

 

 

Tyler Harrison Leaves CBRE

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Tyler Harrison, former Senior Associate with CBRE specializing in tenant and landlord representation in Broward and Palm Beach Counties in South Florida since 2003, has parted ways with the firm effective February 24, 2014.

After 10 years at the company, Harrison will lead San-Francisco Bay-based Equistone Partners’ expansion efforts into the South Florida market.

“The concept behind the formation of Equistone 10 years ago was to take all the good value elements of the large shop and provide scalable solutions that can be implemented and delivered to clients at the speed and efficiency of a boutique Commercial Real Estate firm.  The platform allows us to be true partners with our clients on every level. It’s a foundation and practice that I believe in wholeheartedly and anticipate will be greatly embraced by the South Florida commercial real estate market,” explained Harrison. 

equistone_logoFormed in 2007, Equistone represents tenants and landlords, acquisitions and dispositions of commercial property assets and investor services including source investment, source capital, and structure sponsor the investment opportunity.

From 2003 to 2008, Tyler served as Associate with CBRE’s Brokerage Services Team and was promoted to Senior Associate in March 2009. During his tenure in the South Florida market, Tyler has established a solid reputation in the business community and is well-respected among his peers as a commercial real estate professional.

He has represented several notable companies and organizations such as Blackberry, Ford Credit, Steinger Iscoe & Greene and University of Florida to name a few.  Tyler has also represented charitable organizations including the American Diabetes Association, Breast Cancer Network of Strength, and Best Buddies.

Tyler grew up in Connecticut, has lived in the San Francisco Bay Area, and currently resides in Boca Raton, FL, where he has lived for the past 13 years.

Equistone Partners is a full-service client-focused commercial real estate brokerage and advisory firm, offering a complete range of commercial real estate services, supplying consistent service to clients and implementing strategies that provide opportunities for its Client Partners. Equistone Partners professionals know the real estate market and have the right contacts, resources and systems to deliver high-level solutions.

 

Bonsignore Signs The Fund To 14,000 SF Long-Term Lease

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Approximately 14,000 square feet has been leased at Crown Center, located at 1201 W. Cypress Creek Road, Fort Lauderdale.

The property’s newest tenant, The Fund, a registered trademarked company of Attorneys’ Title Insurance Fund, is headquartered in Orlando and will be opening a branch in this space.

“The tenant was attracted to the property based on its proximity to I-95, signage opportunity, ample parking and lobby exposure,” says Sal Bonsignore, Senior Vice President with Colliers International South Florida, who exclusively represents landlord Midgard Group at the +/- 475,000-square-foot office campus. Crown Center is a LEED certified office campus with tenant amenities which include, on-site banking & café, electric vehicle charging stations and on-site management.

“We are seeing increased activity at Crown Center, and are optimistic this trend will continue as the overall  leasing market continues to improve,” Bonsignore adds. The Fund was represented by Vincent Mele of Vincent Mele & Associates, Inc. and Jill Arias, Senior Vice President with DTZ Americas, Inc.

 

 

Becker & Poliakoff Building In Hollywood Trades For $8M

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Calkain Companies recently arranged the sale of a 52,000+/- square foot, net rentable two-story office building located at 3111 Stirling Road in Hollywood for $8,250,000.

Lee Brushingham, Director at Calkain Companies, represented the seller in the transaction.

The building was originally constructed by the founding member and managing partner, Gary Poliakoff, Esq., who rose to fame leading the law firm Becker & Poliakoff. The property had been occupied by Becker and Poliakoff since its completion in 1988. The firm vacated the building January 31, 2014 resulting in a vacant asset. Although ownership considered re-leasing the building, several potential purchasers emerged with sincere interest in acquisition.

Brushingham commented, “The asset was looked upon favorably by the owner-user market because of its location and the level of construction detail that was employed by Mr. Poliakoff, including subsurface pilings, slab-to-slab walls throughout, new roof, fully upgraded chiller system, and even an elevator room that was separated from the main building to ensure noiseless elevator operation.”

Other factors noted by Brushingham included fully approved plans for the addition of a third floor, ample parking and a great lakeside office park setting.

The buyer, Memorial Health Care Systems, was in the market for a suitable administrative headquarters in which to consolidate a number of divisions. Bob Banks of RW Banks Real Estate represented Memorial Health Care in the transaction. “This will be a great home for Memorial’s administrative staff for many years to come,” said Brushingham.