The merger results in new entity, KRES Commercial, specializing in commercial real estate. CLICK ON THE HEADLINE FOR MORE
Solitron will pay a base rent of $29,743 a month. CLICK ON THE HEADLINE FOR MORE
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.
Solitron Devices, Inc. entered into a new lease with its Landlord, Eurobank, for the occupancy and use of its 47,000 square foot facility located at 3301 Electronics Way in West Palm Beach, FL.
The initial term of the Lease is for four years and eleven months beginning on February 1, 2012 and ending on December 31, 2016. The Company has the option to extend the initial term of the Lease for an additional five years.
Solitron will pay a base rent of $29,743 a month. Commencing on January 1, 2013 and on the first day of January of every subsequent year, the base rent will be increased by no less than three percent nor more than five percent annually. The Company will pay for the cost of electrical service to the air conditioning units servicing its own area.
Solitron Devices, Inc. designs, develops, manufactures, and markets solid-state semiconductor components and related devices primarily for the military and aerospace markets.
Source: CityBiz
Geisen & Burst Join Forces
/in News/by SFOBA STAFFThe merger results in new entity, KRES Commercial, specializing in commercial real estate. CLICK ON THE HEADLINE FOR MORE
Solitron Inks 47,000 SF West Palm Lease
/in Done Deals/by SFOBA STAFFSolitron will pay a base rent of $29,743 a month. CLICK ON THE HEADLINE FOR MORE