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Cushman & Wakefield Acquires Taylor & Mathis

August 15, 2016/in News/by SFOBA STAFF

The acquisition adds approximately 120 employees to C&W’s Florida footprint. CLICK ON THE HEADLINE FOR MORE

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

August 8, 2016/in Done Deals, News/by SFOBA STAFF

The financial institution will occupy ground floor bank space and office space on the second floor. CLICK ON THE HEADLINE FOR MORE

Cushman & Wakefield Acquires Taylor & Mathis

August 15, 2016/in News/by SFOBA STAFF

The acquisition adds approximately 120 employees to C&W’s Florida footprint. CLICK ON THE HEADLINE FOR MORE

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

August 8, 2016/in Done Deals, News/by SFOBA STAFF

The financial institution will occupy ground floor bank space and office space on the second floor. CLICK ON THE HEADLINE FOR MORE

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Cushman & Wakefield Acquires Taylor & Mathis

August 15, 2016/in News/by SFOBA STAFF

On the heels of its merger with international real estate powerhouse DTZ,Cushman & Wakefield of Florida Inc. has snapped up a Florida firm with a presence in each of the Sunshine State’s biggest markets.

Cushman this week closed on its acquisition of Tampa-based Taylor & Mathis of Florida, adding about 120 employees to its Florida footprint. Of those, about 100 are in property management, with the remainder in brokerage and leadership positions.

Financial terms of the deal were not disclosed.

With the acquisition, Cushman becomes the second largest property management firm in Florida. The combined company will have a management portfolio of 41 million square feet, employing 270 property managers.

Hank Brenner, president of Taylor & Mathis of Florida, said Wednesday that he and Larry Richey, Florida market leader for Cushman, have had conversations about a potential acquisition dating back years.

“The days of the small guys seem to be limited,” Brenner said, “and we felt like we wanted to get the right fit, and again, this felt like absolutely the right fit.”

Cushman & Wakefield, like its peers in commercial real estate, has an international network through which to market properties and potentially draw new clients. Under Richey’s leadership, Cushman’s Florida network combines the resources of a major corporation with an entrepreneurial vibe in its local offices.

“In my view, this is the single largest acquisition opportunity that’s surfaced in Florida in the last 10 years, maybe 20 years,” Richey said.

Taylor & Mathis has property management and brokerage employees in Tampa, Orlando and Miami. In Jacksonville, the company has a small presence, handling the management of a half-million-square-foot building.

No employees will be cut, Richey said. Taylor & Mathis employees in each market will move into Cushman offices.

One of the biggest changes for the Taylor & Mathis employees will be the available resources, like Cushman’s data and marketing said Damien Madsen, principal in Taylor & Mathis’ Orlando office.

“We try to do so much stuff on our own,” he said. “Having access to resources is going to be a huge, huge benefit to us.”

Source: TBBJ

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

August 8, 2016/in Done Deals, News/by SFOBA STAFF

Stiles Realty announced today that Valley National Bank has signed a 10-year lease deal at Stiles’ corporate headquarters located at 301 East Las Olas Blvd. in the heart of the downtown Fort Lauderdale financial district.

The financial institution and its more than 30 employees will occupy 3,600 square feet of prime ground floor bank space, which features an ATM directly on Las Olas Blvd., as well as 4,000 square feet of second floor office space for its wealth management and commercial lending operations.

Stiles Realty Senior Vice President Norm Adams represented the landlord in the transaction while Richard Kaufman, of Strategic Realty, represented the tenant.

“This move allows us to offer our clients enhanced services as well as all of the conveniences Las Olas Blvd. has to offer while positioning our brand in the center of the financial district,” said Rudy Schupp, Executive Vice President at Valley National Bank.

Valley National Bank will relocate from a former branch on South Federal Highway in Ft. Lauderdale. The move provides the bank with direct Las Olas exposure, covered parking and proximity to area nightlife, culture and entertainment. The bank space build-out is underway with a slated October opening.

“The deal further fortifies the financial district on Las Olas,” commented Adams. “This corner is highly desirable because of its access to retail, entertainment, restaurants and key financial services firms.”

Adams commented that lease rates on Las Olas have reached all-time highs, but he does not believe they are at their peak.

“The Las Olas corridor has very few options for new market entries. We expect additional rate growth due to the tightening market,” added Adams.

The Plaza at Las Olas features a manicured brick-paved drive around a central fountain, 24-hour security, elegant lobby with high-end finishes and hurricane glass. The property is surrounded by parking and is within walking distance to some of Fort Lauderdale’s most popular dining, entertainment and nightlife, including: YOLO restaurant; Vibe nightclub; FAU; Broward College; Broward Center for the Performing Arts; Fort Lauderdale Art Museum; and more.

In the center of six million square feet of commercial office and mixed-use space, the Plaza at Las Olas is immediately accessible to a daytime population of over 63,000 people. Over 2,200 new residential units are in development within a one-mile radius. Easily accessible from I-595, I-95 and US-1, The Plaza at Las Olas is within a ten-minute drive of Fort Lauderdale/Hollywood International Airport and Port Everglades.

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Cushman & Wakefield Acquires Taylor & Mathis

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

Cushman & Wakefield Acquires Taylor & Mathis

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

Full Sized Blog Element (Big Preview Pic)

Cushman & Wakefield Acquires Taylor & Mathis

“The days of the small guys seem to be limited,” Brenner said, “and we felt like we wanted to get the right fit, and again, this felt like absolutely the right fit.”

“In my view, this is the single largest acquisition opportunity that’s surfaced in Florida in the last 10 years, maybe 20 years,” Richey said.

“We try to do so much stuff on our own,” he said. “Having access to resources is going to be a huge, huge benefit to us.”

Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

“This move allows us to offer our clients enhanced services as well as all of the conveniences Las Olas Blvd. has to offer while positioning our brand in the center of the financial district,” said Rudy Schupp, Executive Vice President at Valley National Bank.

“The deal further fortifies the financial district on Las Olas,” commented Adams. “This corner is highly desirable because of its access to retail, entertainment, restaurants and key financial services firms.”

“The Las Olas corridor has very few options for new market entries. We expect additional rate growth due to the tightening market,” added Adams.

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