Tag Archive for: anthony librizzi

Financial Advisement Firm, Law Firm Take Office Space In Palm Beach

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Cushman & Wakefield has arranged two leases at 3001 PGA Boulevard in Palm Beach Gardens.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the owners, Owens Realty Capital, in the lease negotiations.

Janney Montgomery Scott, a financial advisement firm, signed a lease for 7,031 square feet, and Cummings & Lockwood, a law firm providing a broad range of trust and estates services, signed a lease for 4,343 square feet.

“We are delighted to welcome Janney Montogmery Scott and Cummings & Lockwood to our building and are looking forward to the long-term relationship with them,” said Palmer Vietor, Vice President of Owens Realty Capital. “Being able to attract quality tenants such as Janney and Cummings & Lockwood was a driving factor behind the purchase of the building for us.”

Located in the heart of Palm Beach Gardens, the three-story building totals 67,500 square feet.

“3001 PGA is uniquely positioned to meet the growing demand of occupiers seeking newer Class A product and ownership groups who value the health and safety of their tenants in the same manner as tenants do their employees,” Librizzi said. “These transactions are the result of the owner’s ability to creatively achieve deals in an ultra-competitive environment.”

 

Another WPB Office Tower Trades

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Cushman & Wakefield has negotiated the sale and financing of 1700 Palm Beach Lakes, a ±113,964-square-foot, Class A office building in Palm Beach County.

The Cushman & Wakefield Capital Markets team of Scott O’Donnell, Dominic Montazemi, Greg Miller, Miguel Alcivar and Michael Ciadella, with significant support from Cushman & Wakefield agency leasing specialist Anthony Librizzi, negotiated the sale on behalf of 1700 PBL LLC, an affiliate of Miami-based Breakers Capital.

Hackensack, New Jersey-based Capstone acquired the building for $19.35 million, or about $170 per square foot.

Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance group assisted the purchaser in securing an $18.4 million acquisition loan from Blue Vista Finance on behalf of Capstone.

1700 Palm Beach Lakes is an 11-story office tower developed in 1988 on a ±1.24-acre site at 1700 Palm Beach Lakes Boulevard. The property features structured parking, a covered entrance and premium interior finishes, providing a true Class A experience.

Ownership recently completed a capital investment program valued at nearly $2 million that included a complete elevator modernization, complete lobby and garage restorations and a full-building generator replacement.

1700 Palm Beach Lakes’ location along the Palm Beach Lakes Boulevard corridor offers tremendous connectivity to greater West Palm Beach and the central business district (CBD) via the adjacent Interstate 95 interchange, North Congress Avenue and North Australian Avenue. The property is positioned to capitalize on the corridor’s recent transformation, marked by the development of the Palm Beach Outlets and the Hilton Garden Inn West Palm Beach at the Outlets, which serves as Spring Training home for the Houston Astros.

The property was 89.4% occupied at the time of sale. Notable tenants include the Internal Revenue Service (IRS), Valley National Bank, Uniters North America and Comcast Spotlight. The IRS will vacate more than ±32,000 square feet in 3Q 2019, dropping occupancy to 61.1% and creating a tremendous value-add opportunity for new ownership.

“The IRS’ departure actually creates an exceptional value-add opportunity to update a significant swath of older space in the building, bringing it more in line with the needs of modern, smaller tenants which are prevalent in this submarket,” said O’Donnell. “The building is a best-in-class asset and offers Capstone upside potential given the ideal combination of positive market fundamentals, rapid nearby development and potential for a complete property rebranding in one of South Florida’s most exciting cities.”

 

CBRE Tapped To Lease, Manage West Palm Beach Office Tower

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CBRE was selected to lease and manage One Clearlake Centre, a 236,500-square-foot, 18-floor Class A office tower and home to KRES Commercial, located at 250 South Australian Avenue in West Palm Beach.

CBRE will market the property on behalf of AEW Capital Management (AEW), and will provide leasing, property management, project management and technical services.

The most visible downtown building from I-95, One Clearlake is a LEED Silver-certified property offering exceptional views of West Palm Beach and water views from each floor. The property’s location and size make it an attractive asset in a market that is generating interest from both local and national tenants.

“There’s a lot of market momentum right now and Palm Beach County’s aggressive and largely successful efforts to lure firms from California and New York City have ratcheted up that competition even more,” said Ken Krasnow, CBRE South Florida’s Managing Director. “One Clearlake has headquarters appeal because it’s highly visible from I-95, it offers the largest block of vertically contiguous space in the county and it is close to the central business district and all of its amenities.”

CBRE’s Investor Services Group, led by Senior Managing Director Patricia Nooney, will provide executive oversight to the leasing, property management and capital improvements. “We are thrilled to have the opportunity to work with AEW, one of the world’s leading real estate investment advisors,” said Ms. Nooney. “We’re confident that the disciplines and resources CBRE brings to this major assignment in downtown West Palm Beach will enable us to deliver exceptional service and ensure the property is maintained at levels consistent with an institutional-quality product.”

CBRE Vice President Anthony Librizzi will provide leasing services for the property with Associate Josh Nolan. The CBRE Asset Services team at the property will be led by South Florida Director Lisa Jesmer. Project Management will be led by Managing Director Greg Main-Baillie, and Technical Services by Director David Day. Michelle Horn is the Senior Real Estate Manager and Wayne Stracke is the Chief Engineer.

Librizzi Closes 7,000 SF Lease In Palm Beach Gardens

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CBRE arranged a lease of 7,000 square feet at a 96,000 square-foot Class A office building at Corporate Center at the Gardens in Palm Beach Gardens.

The office space at 4200 Northcorp Parkway, owned by an affiliate of Lexington Realty Trust, a New York City-based real estate investment trust, will serve as a new world headquarters for eXfuze.

“Institutionally owned and operated since its inception, Corporate Center at the Gardens recently completed common area renovations and building systems modernization that make it a choice destination for the area’s premier office tenants.  In relocating from Golden Bear Plaza, eXfuze also was drawn by the building’s ideal location and the strength of its ownership,” said CBRE Vice President, Anthony Librizzi.

Built in 1996 and formerly the private headquarters of a security firm, Corporate Center at the Gardens recently completed a $2.5 million capital improvement campaign.

CBRE’s Joshua Nolan collaborated with Librizzi in representing the landlord.

Three New Tenants Ink Deals At Esperanté

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Competition to attract tenants is fierce among landlords after a few years of declining occupancy and lease rates. With stronger market confidence, new companies are beginning to enter the market or re-approaching expansion needs. In the Downtown West Palm Beach submarket, Esperanté Corporate Center is ahead of competing towers, having signed all three of the active space requirements for Class A space in downtown.

In the past 45 days, Esperanté signed AMEC, Tremont Partners and Lang Realty, accounting for more than 6,000 square feet of new leases—all of which counts toward positive absorption in the Downtown West Palm Beach submarket.

Lang Realty was the most recent of the three to sign. The deal closed yesterday for 2,233 square feet. Lang has a second location in downtown that they will continue to occupy.

Esperanté Corporate Center is a 256,000-square-foot Class A office tower located at 222 Lakeview Avenue. Owned by CBRE Global Investors, the LEED Gold certified building features WiFi-enabled common areas, a 24/7 lobby attendant, valet parking and a six-story atrium. The property is also part of CBRE Global Investors’ ‘5-Star Worldwide’ program designed to offer tenants at select Class A office buildings worldwide access to the amenities of member buildings, including concierge services, conference centers and fitness centers.

“As an owner, CBRE Global Investors offers unmatched amenity capabilities and financial stability,” said Anthony Librizzi, Vice President with CBRE in West Palm Beach. “New tenants are very excited to become members of the premium tenant program and enjoy the rich amenities of this trophy asset.”

Librizzi and CBRE Senior Vice President Jeff Kelly lead landlord representation and leasing services as part of the CBRE leasing and management team at Esperante Corporate Center. CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc.