Tag Archive for: barbara lebrun

Historic Downtown WPB Office Building Sells For Over $600 PSF In Under 65 Days

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NAI Merin Hunter Codman, Inc. successfully closed a high-priced office building sale in Downtown West Palm Beach.

NAI Merin Hunter Codman Managing Directors Lesley Sheinberg and Barbara LeBrun represented the owner, Thaler and Thaler, PA, in the $5,950,000 sale of the historic 9,446-square-foot Thaler & Thaler building, located at 700 N Olive Avenue.

The transaction equated to $630 per square foot, one of the highest sales per square foot for an office building in the West Palm Beach Central Business District submarket within the last year.

The two-story property, situated on 0.3 acres in the heart of downtown, went under contract within seven (7) days of listing and closed in just 65 days. Constance T. Thomas and David J. Thomas IV of TCRE represented the buyer, Palm Equity LLC.

According to CoStar Group’s September 2025 West Palm Beach CBD Office Submarket Report, the 12-month average sales price per square foot is $422, well below 700 N Olive’s $630 per square foot sale price. Downtown West Palm Beach, often dubbed “Wall Street South,” has benefited from tremendous development and growth over the past five years. It is no wonder that a property at the northeast corner of N Olive Avenue and N 7th Street, just blocks from N Flagler Drive and N Quadrille Boulevard, would achieve above-market pricing in what could be record time.

Thaler & Thaler P.A., a local law firm, engaged Sheinberg and LeBrun to bring their longtime property to market after owning the property for almost 40 years. Originally built in 1961, the property was purchased by Thaler & Thaler in 1987. In 2001 the firm built a new two-story office building on site comprised of a ground floor gated parking garage and larger, upper-level office space.

Thaler and Thaler praised the NAI Merin Hunter Codman team by stating, “Barbara LeBrun and Lesley Sheinberg are incredible. We went from listing to contract to closing at the speed of light and they went the extra mile on every detail. I’ve never had a transaction go so smoothly and I would recommend NAI/Merin Hunter Codman and these ladies in particular to anyone looking for a high rate of professionalism and effectiveness.”

 

Barbara LeBrun, Managing Director of NAI/Merin Hunter Codman commented, “It was an honor for my partner, Lesley Sheinberg, and me to exceed the goals and expectations of our client. Our constant and thorough evaluation of local market conditions allows us to properly advise our clients on timing. And as they say, timing is everything.”

 

“Lesley and Barbara are a powerhouse duo. Their professionalism and exceptional market knowledge, coupled with their superior negotiation skills are the secrets to their success. It is my honor to have them on the NAI Merin Hunter Codman brokerage team,” stated Jordan Paul, CEO, NAI Merin Hunter Codman.

 

JV Purchases 100,525 SF Office Building In West Palm Beach For $32.5 Million

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A joint venture between affiliates of West Palm Beach-based MHCommercial Real Estate Fund II (“MHCREF”), a discretionary real estate private equity fund formed by NAI/Merin Hunter Codman principals Dung Lam, Neil E. Merin and Jordan Paul, and Waterfall Asset Management (“Waterfall”), a New York-based SEC-registered institutional asset manager with approximately $9.8 billion in assets including committed capital under management, has closed on the $32.5 million purchase of the fee simple interest in EcoPlex®, a 100,525-square-foot office building located at 1641 Worthington Road in West Palm Beach.

Built in 2008, EcoPlex® is 87 percent leased to a diversified tenant roster with five or more years of weighted average lease term. EcoPlex® was the first speculative office building in West Palm Beach and only the second in South Florida to achieve the LEED® Gold Certification. It is designed to withstand winds of a Category 4 hurricane and is equipped with three generators with integrated, above ground diesel fuel tanks, and rainwater recycling system. The four-story property also features a fitness center with showers and lockers, a lush outdoor plaza, an attached five-story parking structure, and fiber optic service. EcoPlex® rewards businesses with a healthier workplace, maximum energy efficiency, minimal environmental impact, significant cost savings, and increased productivity.

EcoPlex® is located in the Centrepark Office District, a 69-acre mixed-use project strategically located just off Australian Avenue across from Drive Shack and directly adjacent to the Hampton Inn and Garden Inn hotels. EcoPlex® offers convenient access to downtown West Palm Beach’s amenity base including high-profile restaurants and business destinations including Rosemary Square and the Palm Beach County Convention Center.

Additionally, the property’s location offers strategic access onto the region’s major transportation infrastructure, including Interstate 95 (less than 1 mile away), Palm Beach County International Airport (1 mile away), Tri-Rail, Brightline Florida Trains (2 miles away), and the Florida Turnpike (4.6 miles away).

The acquisition represents the second Palm Beach County joint venture between MHCREF and Waterfall following their successful acquisition of the Golden Bear Plaza in Palm Beach Gardens in May 2020. The project also represents the first purchase for MHCREF’s new fund which is projected to acquire between $200 and $250 million of commercial property throughout the Southeastern United States over the next 18-24 months, following the successful acquisition of approximately $115 million of property in its initial fund which was fully invested in December 2021.

MHCREF principals Neil E. Merin, Dung Lam and Jordan Paul stated, “We are very pleased to kick off our second fund by purchasing one of the premier office buildings in our hometown of West Palm Beach.  West Palm Beach has emerged as one of the premier office locations in the United States and EcoPlex® provides its tenants with outstanding access to all the area has to offer. As the only LEED® Gold Certified building in the city with a full backup generator system and construction engineered to withstand a category 4 hurricane, EcoPlex® offers its tenants a unique value proposition in the highly sought-after West Palm Beach market.”  

Patti Unti, Managing Director at Waterfall stated, “We are excited to be partnering with MHCREF on our second transaction in southeast Florida. The MHCREF team brings a deep bench of talent to our partnership along with a long history of operating within the West Palm Beach market. The EcoPlex® project offers a differentiated office approach to a sub-market we believe is well-positioned for future growth.” 

Corey Winsett, Director of Acquisitions for MHCREF oversaw the acquisition and due diligence process on behalf of the MHCRF/Waterfall JV. Financing for the transaction was provided by LoanCore Capital a leading institutional lender that has financed over $25 billion in commercial real estate loans since 2008. Steve Kay, Managing Director and JP Kost, Vice President, structured the financing transaction on behalf of LoanCore Capital.

Elizabeth Jones and John Strickroot of the Shutts & Bowen law firm represented the purchaser on the transaction. NAI/Merin Hunter Codman will manage and lease the property with the team of Managing Directors Lesley Sheinberg and Barbara LeBrun, SIOR.

 

NAI/Merin Hunter Codman Tapped To Lease Iconic West Palm Beach Office Building

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NAI/Merin Hunter Codman announced it has been retained to oversee all leasing for the iconic 20-story, 256,000 square-foot, Esperante Corporate Center located in the heart of downtown West Palm Beach at 222 Lakeview Avenue.

RedSky Capital, which purchased the premier trophy property in 2016 and recently completed over $8 million in property renovations, awarded the leasing assignment to Managing Directors Lesley Sheinberg and Barbara LeBrun, SIOR who will be supported by Commercial Associate Alexandra Bazo with the retail portion of the property being handled by NAI/Merin Hunter Codman’s long-time Retail Service Group Managing Director Bruce Corn.

“Esperante Corporate Center has been an iconic part of the West Palm Beach skyline since 1989. NAI/Merin Hunter Codman has been a force in the Palm Beach County commercial real estate marketplace just as long, if not longer. Their long-term local market leadership, local and global connections, and proven track record made them a perfect fit to represent Esperante,” cited Ben Stokes, Principal of RedSky Capital.

Sheinberg added, “Esperante is a premier commercial property, offering an array of first-class amenities and services. The stunning renovations combined with the exciting retail aspect of the property makes it a highly competitive prospect for out-of-state firms coming to South Florida to take advantage of our favorable and tax-friendly business climate along with our incomparable lifestyle. We are seeing more and more businesses leaving large metropolitan areas and relocating to West Palm Beach in response to the challenges posed by the coronavirus.  Esperante’s owners and our team welcome the opportunity to introduce this one-of-a-kind downtown West Palm Beach jewel to office and retail users across the country.”

Esperante Corporate Center offers a variety of floor plans to suit multiple needs, including build-to-suit and move-in ready options for boutique and corporate headquarter users alike. The building is currently offering ±600-35,000 square feet of office space with full floor opportunities and retail space from ±600-2,400 square feet, including high-visibility café opportunities.