Tag Archive for: berger commercial realty

Berger Commercial Realty’s Stephen Hyatt Reps Lighthouse Of Broward In Purchase Of New HQ Building

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented Lighthouse of Broward in the purchase of the former Brightstar Credit Union Headquarters located at 5901 Del Lago Circle in Sunrise.

Brightstar Credit Union sold the 23,185-square-foot building, which served as its executive offices, for $6,200,000. The 2002-built building is situated on 2.02 acres. Brightstar recently relocated to a new 70,318-square-foot headquarter office in Cooper City, Florida.

The newly purchased building will serve as Lighthouse of Broward’s administrative offices and training center for the blind and visually impaired.

Chris Wood with CBRE and Zach Wendelin, who is now with JLL, represented Brightstar in the transaction.

Hyatt negotiated the sale of the Lighthouse of Broward‘s building located at 650 North Andrews Avenue in Fort Lauderdale, Florida, and attorney George Moraitis of Moraitis, Cofar, Karney, Moraitis & Quailey handled all legal review. Both Moraitis and Hyatt represented Lighthouse of Broward, the preeminent nonprofit in Broward County serving the blind and visually impaired, in the pro bono transaction. The transaction of the ±11,125-square-foot office property, located on a highly visible corner in the heart of the booming Flagler Village area, closed February 22, 2023. The buyer paid $12,650,000 for the property.

“Because of the very successful sale of its downtown location, Lighthouse of Broward County was able to acquire a high-quality, fully-furnished headquarters twice the size of its current location for half the price in a more centralized location to better serve all of Broward County,” commented Hyatt. “The remaining funds will be used for minor renovations with the bulk of the additional proceeds placed in an endowment to fund future services for the blind and visually impaired.”

Lighthouse of Broward President and CEO Ellyn Drotzer, MSW, LCS added that the larger, more accessible space has will enable the organization to connect with additional members of the community who face vision issues.

“This is an amazing opportunity to help more people who are blind and visually impaired become more independent and productive through specialized rehabilitation, life skills training and employment opportunities,” said Drotzer.  “Our new space will accommodate robust programming, additional learning opportunities and more space for client socialization.  We look forward to moving into our new building next year and are grateful to both Steve and the Berger team for their expertise, and George Moraitis for his stellar legal services.”

 

Berger Commercial Realty Celebrates 25 Years

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Berger Commercial Realty/Corfac International, a leading independent and privately owned regional, full-service commercial real estate firm based in Fort Lauderdale since its founding in 1998, is celebrating its 25-year anniversary, marking a great achievement and a major milestone for the company. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more.

berger commercial realty_25th-anniversary logo_croppedThe company began as a property management firm and remained solely focused on property management for the first years. Now, as one of the largest independently owned and operated commercial real estate brokerage and property management firms in South Florida, the company has grown to 45 employees with two offices in two counties, currently averaging approximately 300 brokerage transactions each year for a total volume of roughly $400 million.

In 2020, Berger Commercial Realty founded its affiliate company, Andrews Avenue Residential, a residential property management company focused on superior multifamily real estate operations, including full-service management, accounting, and acquisitions. AAR currently manages over 1,800 units throughout the southeast.

“Berger Commercial Realty’s commitment to providing the highest level of customer satisfaction coupled with the unparalleled professionalism of our team members has provided for 25 successful years,” commented Lloyd C. Berger, Berger Commercial Realty President.

With dozens of awards and a talented and resolute team of brokers, property managers, and commercial real estate professionals, Berger Commercial Realty is poised and ready to continue to deliver exceptional results, customer service, and market knowledge for many years to come.

 

West Palm Beach Office Building Trades For $252 PSF In Off-Market Deal

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Yishai Sinai, Managing Broker with Biscayne Advisors, represented the buyer in the purchase of a 41,400-square-foot suburban Class B office building located at 2005 Vista Parkway in West Palm Beach.

Berger Commercial Realty/Corfac International Vice President Brian Batchelder and Senior Vice President Joseph P. Byrnes represented the seller, 123 West 92nd Street, LLC, in the transaction.

153 East 26th Street, LLC purchased Vista Center for $10,430,000, or $252 per square foot.

“This was a win-win situation as the Seller was able to sell the asset at the pinnacle of office sales in South Florida while leaving some value added for the Buyer to elevate the lease rates due to the strong leasing market,” commented Batchelder.

Berger Commercial Realty has retained the leasing and property management for the new owner.

Built in 2004, the building, located at the entrance of a first-class business park, was completely renovated in 2013 and features Okeechobee Boulevard frontage, free assigned covered parking, free surface parking, impact resistant windows, and is located near restaurants, lodging, banking, and shopping.

 

Berger Commercial Realty Negotiates Seven Leases At Prospect Park I & II Totaling ±38,000 Square Feet

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Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM, Vice President Jonathan Thiel, and Sales Associate James Karrat, represented the landlord, AKF3 SF LIGHT INDUSTRIAL LLC % ADLER KAWA REAL ESTATE ADVISORS, in executing seven leases a Prospect Park I & II, two business parks totaling 14 buildings and more than 150,000 square feet located in Fort Lauderdale.

The deals include a mix of new leases, expansions and lease renewals including:

  • Bioxtek LLC signed a new lease for ±11,120 square feet
  • American Way Health, LLC signed a new lease for ±3,274 square feet
  • Pointed Engineering Inc signed a new lease for ±1,305 square feet
  • Commercial Trade Service signed a new lease for ±902 square feet
  • Residential Warranty, Inc. renewed its lease for ±8,309 square feet and expanded by ±5,589 square feet
  • Orthotic & Prosthetic Centers, Inc. renewed its lease for ±5,289 square feet
  • HCB Specialties LLC renewed its lease for ±2,385 square feet

Located within the Fort Lauderdale Commerce Center, Prospect Park I, located at 5201-5255 NW 33rd Avenue, consists of six buildings and features prime office suites ranging from 1,178 square feet to 4,719 square feet.

Prospect Park II, located at 3301-3471 NW 55th Street, consists of eight buildings totaling 81,925 square-feet of office and flex space with bays ranging from 902 square feet to 5,589 square feet. Renovated over the past two years, Prospect Park II features contemporary designs and enhanced curb appeal.

The lease deals bring the buildings to 92% occupancy.

 

Berger Commercial Realty’s Keith Graves and Jonathan Thiel Negotiate 290,503 SF Lease Renewal For Sun-Sentinel

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Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM and Vice President Jonathan Thiel negotiated a long-term lease renewal on behalf of Sun-Sentinel Company LLC for 290,503 square feet at 333 SW 12th Avenue in Deerfield Beach.

The 1988-built property is occupied by Sun-Sentinel Company LLC as a printing plant and distribution center and includes a 2-story office component, as well. The property features 35’ clear ceiling height, dock and grade level loading and is situated on 23.03 acres. Besides the Sun Sentinel, the other papers now being printed at the facility include the New York Daily News, New York Times, New York Post, Wall Street Journal, and the weekly Barron’s financial publication.

“This represented a strategic, long-term commitment to South Florida and the local community,” commented Graves. “The prime location and functionality of the property, coupled with Sun-Sentinel’s growth and business model were all contributing factors.”

Tom O’Loughlin of CBRE represented the landlord, GPT SW 12TH AVENUE OWNER LLC, in the lease deal.

 

Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Downtown Fort Lauderdale Office Condo

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller, AMUCO Trading LLC, in the sale an office condominium located within Fort Lauderdale’s Museum Plaza.

Dowding Holdings, Inc. paid $1,347,000 for the 4,772-square-foot upscale corporate office located in Suite 200 at 200 South Andrews Avenue. The fully renovated building served as the former headquarters for Blockbuster Entertainment Corporation. Dowding represented themselves in the transaction.

“The buyer had been leasing in the area and decided he would prefer to take advantage of this rare ownership opportunity,” commented Hyatt.

The deal closed July 29.

Class A Museum Plaza offers on-site security and property management, technologically-savvy surveillance, special private key access, valet parking, and more in the in the heart of downtown Fort Lauderdale. The suite features upgraded flooring, large glass wall conference rooms, perimeter offices with glass walls and window-views, an open bullpen area for workstations as well as a high-end open area for a trading floor or similar use. Additionally, there is a large kitchen/break-room area, wellness room, storage and IT/Technology area currently in place.