Tag Archive for: brian batchelder

Berger Commercial Realty’s Steve Hyatt, Brian Batchelder Negotiate Sale Of Pompano Beach Office Building For $12,750,000

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt and Vice President Brian Batchelder represented the Seller, Federal Tower, Inc., in the sale of Federal Tower, located at 1600 South Federal Highway in Pompano Beach.

Buyer Vera Fund, LLC paid $12,750,000 for the 68,711-square-foot office building, equating to nearly $186 per square foot. The buyer was represented by Nick Polyushkin, CEO and Founder of Vera Realty.

The transaction closed January 24.

Built in 1976, the iconic blue glass building is a highly prominent, 11-story Class B office building situated on 2.3 acres, with a strong history of high occupancy with long term tenants. It is located on the southern border of Pompano Beach and northern border of Fort Lauderdale within close proximity to two major hospitals – Imperial  Point Hospital and Holy Cross Medical  Center – and to upscale residential neighborhoods of Bay Colony and Imperial Point.

The Buyer plans to renovate the building and attract additional medical and small office tenants. There is also potential for long term redevelopment of the entire site.

“Well-located office buildings with a larger percentage of medical-related tenants continue to be a favorite asset class,” explained Hyatt.  “For obvious reasons,  medical real estate has not been impacted by the post Covid- work-from-home trend that has negatively affected other office assets.”

This is the third property that Hyatt and Batchelder have sold on behalf of this client.

 

Berger Commercial Realty/CORFAC International Attains Full Occupancy Milestone For Prominent 183,000-SF Office Building Portfolio

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Berger Commercial Realty/Corfac International brokers Vice President Brian Batchelder and Senior Vice President Joseph P. Byrnes have successfully concluded a lease agreement on behalf of Woolbright Properties & Investments, LLC and Congress Properties & Investments, LLC, resulting in 100% occupancy of the three-building, four-story Class B office portfolio in Boynton Beach.

The finalization of the 3-year lease agreement with Nurse One Home Health, LLC stands as a pivotal moment, leaving the entire three-building portfolio with zero vacancy. This accomplishment underscores the portfolio’s status as highly desirable to medical and office tenants.

In a market where CoStar data signals a current 15.6% vacancy rate, their success stands out as a testament to their strategic leasing efforts and market knowledge. This is particularly significant considering the challenging market conditions, highlighting their ability to outperform and excel.

“The office projects are strategically located in the central business district of Boynton Beach, facilitating the attraction of tenants from the West Palm Beach and Boca Raton submarkets. Through dedicated effort and perseverance, we successfully achieved full occupancy for both buildings”, said Batchelder.

2240 w woolbright-boynton beach_photo courtesy of Berger Commercial Realty

2240 W Woolbright

1901-1903 s congress ave-boynton beach_photo courtesy of Berger Commercial Realty

The highlighted office buildings include a 77,000-square-foot structure located at 2240 W Woolbright Road, established in 1985, and two adjacent buildings at 1901 and 1903 South Congress Avenue, constructed in 1983 and 1985, respectively, with a combined space of 106,000 square feet.

Positioned strategically in close proximity to major transportation arteries such as US-1, I-95, and Florida’s Turnpike, these coveted office spaces offer unparalleled convenience to tenants. Moreover, the prime location facilitates easy access to a diverse range of amenities, including various restaurants, banking facilities, and multiple shopping centers.

 

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.

 

Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

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Berger Commercial Realty/Corfac International Vice President Brian Batchelder represented the seller in the purchase of a 5,204-square-foot office building located at 2100 South Andrews Avenue in Fort Lauderdale.

RFH 2100, LLC sold the 1972-built boutique office building, which is situated on .37 acres of land, for $2,500,000. Ron Osborne, Managing Director of Sperry Commercial Global Affiliates | RJ Realty represented the buyer, Consolidated Properties of Andrews Avenue, LLC, in the transaction.

The deal closed April 18.

Brian Batchelder-Berger Commercial Realty

Batchelder

“The downtown Fort Lauderdale office inventory is extremely low driving valuations at an all-time high,” commented Batchelder. “My client was able to take full advantage of the market climate and was able to ascertain their desirous price.”

2100 S. Andrews Ave. is a free-standing office building consisting with 21 parking spaces. It is situated on the SE corner of Andrews Ave and SE 21 St.  It is Ideally located within minutes from the courthouses, Broward General Hospital, Port Everglades and Fort Lauderdale-Hollywood International Airport. The building features signage capabilities with high curbside visibility facing Andrews Avenue.

 

Berger Commercial Realty’s Brian Batchelder, Joe Byrnes Negotiate 25,000 SF Lease Deal With VITAS Healthcare Corporation of Florida

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Berger Commercial Realty's Brian Batchelder and Joe ByrnesBerger Commercial Realty/Corfac International Vice President Brian Batchelder and Senior Vice President Joseph P. Byrnes represented landlord Congress Properties & Investments, LLC in a six-year, 16,648-square-foot lease renewal and expansion of an additional 8,686 square feet with VITAS Healthcare Corporation of Florida at Woolbright Corporate Center, located at 1901 South Congress Avenue in Boynton Beach.

Andrew Pearl with Investments Management Associates, Inc. represented VITAS Healthcare in the lease negotiation.

Established in 1978, VITAS Healthcare is a vital provider of hospice services in the US. The firm, a subsidiary of Chemed, is a top national provider, serving patients in about 15 states and Washington, DC. The company provides nearly 50 hospice care programs for terminally ill patients in their homes, nursing homes, hospitals, and at its nearly 3030 company-owned inpatient facilities. Its services — provided by teams of nurses, doctors, aides, clergy and social workers — focus on managing pain and symptoms, providing personal care, helping with financial arrangements, handling equipment and medications, and offering emotional and spiritual support. The company also provides bereavement services and grief counseling to patients’ families.

Woolbright Corporate Center is a 115,000-square-foot campus setting office project with an 85% occupancy level. The property features plenty of free surface parking, and easy access to I-95 and Florida’s Turnpike. The only remaining available space is a full floor comprised of 16,323 square feet, which can be divided with a 5,000-square-foot tenant. Berger Commercial Realty leases and manages the  property which is a part of a portfolio consisting of approximately 500,000 square feet of commercial properties from Delray Beach to West Palm Beach.

 

Berger Commercial Realty Sells Cypress Creek Corporate Corridor Building

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The Cypress Creek Center, among the most desirable buildings in the popular Cypress Creek corporate corridor, was sold for $4.8 million on March 11.

Berger Commercial Realty/CORFAC Senior Vice President Steve Hyatt and Vice President Brian Batchelder represented the seller, Bright Angel, Inc.  Previously, Berger Commercial Realty represented the seller in the successful sale of a commercial warehouse property during 2019.

South Florida Innovative Office, LLC, the Cypress Creek Center buyer, intends to take over the building’s leasing and management, as well as renovate the common areas.  Built in 1997, the building was remodeled in 2018.

“This is South Florida Innovative Office’s first entry into the Broward office market and they’re looking to acquire more,” Hyatt said.  “The Cypress Creek Center has been well-maintained and provides a solid basis for a long-term, stable investment in an established market.”

With 38,707 square feet situated on 1.75 acres with industrial zoning, the three-story Class B building is located at 1000 N.W. 65th St. in Fort Lauderdale centrally between I-95 and Florida’s Turnpike.