She will directly oversee all Brokerage operations and service lines in South Florida with a focus on new business development, talent recruitment, talent retention and marketing.
The asset sold for $17,500,000. CLICK ON THE HEADLINE FOR MORE
Colliers | U.S. announced that Julie Northcutt-Dunn has joined the firm as Executive Managing Director and Market Leader for the company’s business in South Florida, which includes offices in Miami, Fort Lauderdale, Boca Raton and West Palm Beach.
In her new role, Julie will directly oversee all Brokerage operations and service lines in South Florida with a focus on new business development, talent recruitment, talent retention and marketing. She will report to Ryan Kratz, President, Southeast Region | U.S. Brokerage. Kratz will remain in the South Florida market and a key member of the company’s U.S. Leadership Team. He is one of Colliers’ four Regional Presidents as he oversees 20 offices throughout the Southeast and parts of the Midwest.
“I couldn’t be more excited to join the enterprising team at Colliers during a time when our business in South Florida is thriving,” said Northcutt-Dunn. “In partnership with our deep bench of local talent and regional and national leadership, I am confident Colliers will continue to grow throughout the region.”
Northcutt-Dunn brings more than 15 years of industry experience to Colliers, most recently as Regional Sales Director of CBRE’s Midwest Division, where she filled two valuable roles: Sales Management Leader and interim Managing Director of Corporate Client Solutions. Prior to her work at CBRE, Julie held executive leadership roles in the financial services industry, including as Senior Vice President, Mortgage Executive at Fifth Third Bank.
Under Kratz’s leadership, Colliers has significantly strengthened its influence in the South Florida market. The firm acquired strategically positioned brokerage and property management firms such as Continental Real Estate Companies (CREC), with a focus on retail, and Michael Falk & Co., with a focus on office and industrial in Palm Beach county. During the same time, a number of notable professionals joined the Colliers team including Jonathan Carter, Dave Preston, Nikki Traff, Keith Edelman, Scott Goldstein, and Mark Rubin. In 2019, Kratz hired Greg Main-Baillie to lead Colliers’s fast-growing Development Services project and construction management operation.
“As the Market Leader for Colliers’ 75-broker South Florida operation for the last two years, I know that the business has grown to the size and service line complexity that requires full time market leadership by a top-tier professional,” Kratz said. “Julie’s unique, entrepreneurial spirit matches our Colliers values perfectly, and under her experienced leadership, I expect Colliers to continue to increase market share and attract top talent.”
Marcus & Millichap negotiated the sale of Cypress Executive Center, a office building located in the Uptown Business District of Fort Lauderdale.
The asset sold for $17,500,000.
ICM Cypress LP, an affiliate of Calgary-based ICM Realty Group, sold the 140,635-square-foot office building at 1901 W Cypress Creek Road to CYPRESS CORPORATE CENTER LLC. The price equates to $124 per square foot. The property is situated on a ground lease that is owned by the City of Fort Lauderdale and has just under 50 years of lease term remaining.
Marcus & Millichap’s Douglas Mandel, Tyler S. Kuhlman and Richard Redmond had the exclusive listing to market the property on behalf of the seller.
“We have sold several properties over the years that were subject to city of Fort Lauderdale ground leases, so we are very familiar with working with Airport Authority and the city of Fort Lauderdale to navigate the assumption process”, said Mandel.
ICM purchased the building in 2015 for $10.9 million when Mandel represented the Seller. At the time, building was just 60% occupied. After the acquisition ICM completed a building-wide renovation, re-branding and repositioning strategy, which resulted in the building’s stabilization. “Our partnership with Doug’s team for the building sale was vital to executing our investment strategy”, said ICM Realty’s Andrew Webb.
“The Cypress Executive Center garnered premium pricing due to current ownerships ability to stabilize the asset, whilst significantly upgrading the buildings core amenities and successfully executing on their value-add strategy from inception,” stated Kuhlman.
Cypress Executive Center is located at 1901 W Cypress Creek Rd in Fort Lauderdale, FL. It is directly across the street from the Fort Lauderdale Executive Airport in the Uptown Business District of Fort Lauderdale, which is home to numerous major national corporations such as Citrix, Microsoft and others. The property was constructed in 1987 and extensively upgraded between 2015 and 2019, with over $1.3 million worth of improvements added to the building, in addition to considerable Tenant Improvements made to many of the suites during the same period.
Colliers Appoints Respected Industry Vet To Lead South Florida Brokerage
/in News/by SFOBA STAFFShe will directly oversee all Brokerage operations and service lines in South Florida with a focus on new business development, talent recruitment, talent retention and marketing.
Uptown Fort Lauderdale Office Building Sells
/in Done Deals, News/by SFOBA STAFFThe asset sold for $17,500,000. CLICK ON THE HEADLINE FOR MORE