This marks the third time that Everett has received NAI/Merin Hunter Codman’s Broker of the Year award. CLICK ON THE HEADLINE FOR MORE ON THIS STORY
G4S Government Solutions commits long term to Palm Beach Gardens and saves $1 million in the process. CLICK ON THE HEADLINE FOR MORE
NAI/Merin Hunter Codman, Inc. announced that C. Todd Everett, Managing Director of the Investment Services Group of NAI/Merin Hunter Codman, has been named the firm’s Broker of the Year.
The award culminates a stellar 12-months for Everett, during which time he honed in on exclusively representing lenders and private owners seeking to divest properties around the state of Florida. This marks part of a strategic shift both by Everett and the firm as a whole to capitalize on the burgeoning volume of distressed assets deluging the commercial real estate marketplace. Everett, a seasoned veteran with nearly 20 years in the industry, has helped develop a dedicated team to focus on that specific sector.
“Todd Everett has displayed extraordinary leadership and expertise in the commercial real estate industry in Palm Beach County and along the Treasure Coast,” said Jordan C. Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Now that leadership and acumen have been brought statewide to owners and lenders, resulting in a strong year for Everett and a great contribution to NAI/Merin Hunter Codman.”
Everett is one of five NAI Merin Hunter Codman brokers who hold the prestigious SIOR designation, the commercial real estate industry’s highest and most exclusive professional certification. Everett is also the Chairman of the North Palm Beach Treasure Coast Council of NAIOP, the commercial real estate development association; a Founding Executive Committee member of ACRES, the Alliance of Corporate Real Estate Executives & Specialists; as well as a Board Director of the South Florida chapter of NAIOP and Chairman of the Palm Beach County Bus Tour for NAIOP. Such designations are indicative of Everett’s prolific contributions and cooperation with colleagues in the commercial real estate industry in Florida. He is a frequent moderator and panelist debating industry topics and also guests on NPR to speak of topical commercial real estate issues in Florida.
In terms of his brokerage achievements this past year for which he was awarded Broker of the Year by NAI/Merin Hunter Codman, Everett closed some of the firm’s highest profile and most challenging leases and sales including representing the United States Army in one of the larger industrial land transactions in Palm Beach County in recent years, the Army’s purchase of a 13.3-acre parcel in Lake Park for $7 million. It is being developed into a state-of-the-art Army Reserve training facility. That deal and others were culminated with the help of Everett’s dedicated brokerage partners David W. Knott and Ryan R. Dinsdale, both Directors within NAI Merin Hunter Codman’s Investment Services Group. The team currently has a 14-building industrial portfolio up for sale in Melbourne along the Treasure Coast and over the last year has represented owners and lenders throughout the state from South Florida all the way to St. Petersburg and Pensacola and beyond.
Added C. Todd Everett on the award, “I’m honored to have received this distinction at NAI/Merin Hunter Codman. Commercial real estate lenders and owners are faced with unprecedented challenges divesting of troubled assets in today’s market. As a result, we have increasingly been asked to expand our services to serve them in regions throughout the state and in some cases even out of state. The resolutions and success we have achieved for our clients over the past year have been very satisfying for me personally as well as my talented team.”
This marks the third time that Everett has received NAI/Merin Hunter Codman’s Broker of the Year award.
NAI/Merin Hunter Codman, Inc. acted as exclusive advisor in negotiating a 29,000 square-foot, Class-A office lease in Palm Beach Gardens, Florida for G4S Government Solutions (“G4S GSI”), the U.S. government’s largest contractor for professional security services.
G4S GSI was considering leaving its current location at Fairway Office Center but instead, in a complicated transaction, NAI/Merin Hunter Codman negotiated early termination of the firm’s existing lease, and in its place structured a new long-term lease that achieved nearly $1 million in savings for the security firm. The transaction also keeps G4S GSI committed to Palm Beach County for years to come. G4S GSI, formerly known as Wackenhut Services, Inc. has over 12,000 employees protecting key sites in the U.S. and abroad.
“We perceived the market for office space as soon bottoming out and poised for a rebound,” said Bob Schneiderman, a Principal of NAI/Merin Hunter Codman and Head of its Corporates Services Division. “We advised G4S Government Solutions to capitalize on remnants of market weakness to strike a superior deal now to cement savings in the future.
Added Paul Donahue, President and Chief Executive Officer of G4S GSI, “We immediately reduced costs by hundreds of thousands of dollars, and when we look at the deal in its totality, our bottom line will benefit from nearly $1 million in savings.”
The core competencies of G4S GSI, founded in 1960, involve providing high-caliber security and fire services to federal, state and municipal government entities for critical assets and infrastructure. The firm has expanded to include additional services such as base operations support, de-mining and unexploded ordnance services, canine services, training support and unarmed security among other services. For years, the firm had its headquarters along I-95 but in more recent years, took over the space of an affiliate at Fairway Officer Center, a three-building complex located off PGA Boulevard by the juncture of Florida’s Turnpike. Between that move and company mergers, G4S ended up subject to a lease that it did not originate and was subject to seven different amendments.
Said Schneiderman, “This was an opportunity to strike a new deal that better suited the operating needs of G4S Government Solutions. We negotiated added measures of lease flexibility as well as protection against escalating operating expenses among other benefits.”
The new lease followed an exhaustive search undertaken by NAI/Merin Hunter Codman for optimum long-term headquarters for G4S GSI. Countless alternative locations were considered, but after extensive negotiations with Fairway Office Center, G4S GSI ultimately chose to remain at the office complex.
G4S GSI occupies the entire third floor of 7121 Fairway Drive as well as a portion of the second floor. Fairway Office Center is a three-building complex totaling 224,000 square feet, adjacent to the PGA National Resort & Spa. The complex, which is institutionally owned, features state-of-the-art fiber optic communications technology and emergency generator backup for uninterrupted tenant operations. The concrete and steel buildings are three to four stories in height.
Everett Named Broker Of The Year
/in News/by SFOBA STAFFThis marks the third time that Everett has received NAI/Merin Hunter Codman’s Broker of the Year award. CLICK ON THE HEADLINE FOR MORE ON THIS STORY
NAI/Merin Hunter Codman Negotiates Complicated 29,000 SF Lease
/in Done Deals/by SFOBA STAFFG4S Government Solutions commits long term to Palm Beach Gardens and saves $1 million in the process. CLICK ON THE HEADLINE FOR MORE