Tag Archive for: cbre

CBRE’s Owen Sager Tapped To Lease Deerfield Beach Portfolio

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CBRE has been awarded the exclusive leasing assignment of Financial Centre and Pine Tree Plaza, 5 office buildings totaling 166,968 square feet in Deerfield Beach. CBRE will work with the owner, Scott Properties, to market 45,000 square feet of availability in the buildings. The owner previously provided their own leasing services.

“I am very excited about the opportunity to help reposition and increase occupancy for these assets,” said Owen Sagar, CBRE Vice President. “Financial Centre and Pine Tree Plaza offer a great opportunity for businesses looking for convenient I-95 access with local amenities, and strong ownership behind their building. We look forward to representing Scott Properties and these assets.”

Built from 1986 through 1998, the buildings are located on the north-east corner of Hillsboro Boulevard and Military Trail. The buildings are situated within a vibrant business district that provides tenants with excellent access to multiple modes of transportation, as well as proximity to hotels, dining, shopping and entertainment options.  Major tenants include Bank of America, SunTrust and Harte-Hanks.

The properties include three office buildings consisting of 110,000 square feet, and two flex space buildings totaling 56,968 square feet.  Properties in the portfolio contain:

  • Financial Centre East: one four-story office building totaling 40,000 square feet at 1701 W Hillsboro Blvd.
  • Financial Centre West: one four-story office building totaling 40,000 square feet at 1761 W Hillsboro Blvd.
  • Financial Centre North: one three-story office building totaling 30,000 square feet at 300 Lock Road.
  • Pine Tree Plaza: two single-story office/flex buildings totaling 56,968 square feet located at 1525 & 1531 NW 3rd Street.

The portfolio offers a variety of office and flex space availabilities ranging from several hundred square feet to a large block of more than 25,000 square feet.

CBRE’s Vice President Owen Sagar will serve as the leasing broker for the portfolio.

Deborah Fink, Jeff Kelly Sign 40,000 SF Tenant

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CBRE has completed a major 39,788 square foot lease for a Professional Services firm at an office building within The Arbors Campus in Delray Beach, a 245,000 square foot office campus.

Senior Vice President Jeffrey Kelly joined Deborah Fink on the CBRE team representing the landlord.  CBRE’s Jay Dowlen, Charlie Carrocio and John Jaspert represented the tenant. The name of the Professional Services firm has not been disclosed.

The transaction placed the firm at 1615 Congress Avenue and furthers a significant increase in occupancy levels since a change in ownership and management took place less than a year ago.

“Within the past six months, more than 64,000 square feet of new leasing and tenant move-ins have been accomplished at The Arbors,

New ownership and CBRE’s leasing and management teams, coupled with an exceptional campus location and economic value, have attracted prestigious new tenants such as Hospice of Palm Beach County, Regus and a notable Professional Services firm,” said CBRE Vice President Deborah Fink.

Managed and leased by CBRE, The Arbors was purchased by 1615 Arbors North Associates, LLC an affiliate of RexxHall Realty, LLC, based in New Rochelle, NY, through the CBRE Private Capital Markets group one year ago. In that time, the three-building campus has moved from 45% to 66% occupancy.

“The efforts of the CBRE team, combined with ownership’s attention to tenant needs and detail, has given The Arbors a real competitive edge in the marketplace,” said Daniel Stauber, Managing Director of RexxHall Realty, LLC.

Carrocio and Jaspert are a part of the newly formed CBRE Florida Occupier Service Practice Group. Coldwell Banker’s Ingrid Fulmer and Andrea Raskin-Lapis represented Hospice and Jones Lang LaSalle’s Scott Goldstein and Keith Edelman represented Regus.

Busekrus Leaves CBRE For HFF

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Marty Busekrus has joined HFF, one of the largest commercial real estate capital intermediaries in the country, as Director, where he will be focusing on institutional industrial investment sales throughout the Southeastern United States.

Since March, 2011, Marty served as Senior Associate of CBRE’s Private Client Group (PCG) team for South East Florida, encompassing Miami Dade, Broward, Palm Beach and Treasure Coast Counties, along with J. Scott O’Donnell, Dominic F. Montazemi and Miguel Alcivar.

“With my experience coming from the Private Client Group of CBRE’s office and industrial team, it’s a perfect fit,” said Busekrus.

HFF has a history of performance spanning more than 30 years, offering the services of more than 500 experienced industry professionals who operate from offices in major and secondary markets throughout the country.

Prior to joining the Private Client Group, Marty held the position of Senior Sales Associate with NAI Rauch Weaver Norfleet Kurtz for six years beginning in July, 2005.

Downtown Ft. Lauderdale’s Tower 101 Fetches $28.7M

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Banyan Street Partners, led by Rudy Touzet, has paid $28.7 million for the two-building Tower 101, located at 101 NE Third Avenue in Fort Lauderdale, according to a press release.

The asset consists of a six-story building built in 1986 with a 20-percent occupancy and a 19-story building built in 2001 with a 90-percent occupancy. The two buildings, joined through a common lobby, total 230,238 square feet.

The seller was CAPROC in coordination with lender Principal Life Insurance.

CBRE marketed the property on behalf of the seller and put together the financing package for the buyer through Sabadell United Bank, which provided a loan of more than $19 million.

Attorney Jason Post of Stearns Weaver represented Banyan Street and attorney Stuart Kapp of Proskauer Rose represented CAPROC.

 

Source:  SFBJ

West Palm Office Building Goes On Market For $16.5M

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CBRE, Inc. has been hired to sell the Sabadell United Bank Building, a 12-story, 113,567 square foot asset in West Palm Beach, along with its five-level structured parking garage.

The asking price is $16.5 million, or $145 per square foot.

Built in 1980, the building is 86.9 percent occupied. The occupancy of the building is expected to decrease to 80 percent with the pending relocation of Rosenthal & Levy. Outside of Rosenthal & Levy, 19.4% of leases are expiring on a PSF basis through 2014.

PEBB Enterprises of Boca Raton purchased the Sabadell United Bank Building, located at 1645 Palm Beach Lakes Blvd., and the Horizons Building, located at 1401 Forum Way, in November 2011.

The combined purchase price was $14,250,000 for the two buildings.

Since then, the property has been significantly repositioned with over $700,000 in common area and building system improvements.

 

Source: CityBiz

Stiles Realty Appoints New President

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Stiles Realty, the brokerage and leasing division of Stiles, today announced the appointment of industry veteran Paul Marko as president.

In this role, Mr. Marko will assume leadership of the division, directing its market expansion throughout Florida as well as its strategic effort to grow third-party business. Mr. Marko will take over for Stiles’ current president of Realty, Tom Kates, who is retiring after 27 years with the Company.

As president, Mr. Marko will play an integral role in helping Stiles to execute on its strategy to increase Stiles’ footprint across the state while further penetrating its core South Florida markets. In addition to increasing third-party leasing business, he will be responsible for enhancing operations, broker retention, recruiting and professional development. Mr. Marko will also focus on driving growth by leveraging client relationships across the Stiles’ various service divisions, including Property Management, Construction, Architecture, Tenant Improvement and Development.

“Paul’s tremendous expertise combined with the unique structure of Stiles will enable Stiles Realty to achieve the growth we expect in the short-and long-term,” said Stiles Chief Executive Officer, Terry Stiles.  “Paul has a deep knowledge of the local market, proven ability to build long-term relationships with clients and track record of success in the leasing and brokerage arena. With him on the team we will be better positioned to take advantage of new market opportunities while also maintaining our reputation as the leading provider of commercial real estate spaces throughout Florida.”

Prior to joining Stiles, Mr. Marko served for 12 years as First Vice President at CBRE (NYSE: CBG), the world’s largest commercial real estate services firm, according to the company. He also served for six years with Codina Group/Codina Realty Services in a similar capacity.

Mr. Marko will be based in Fort Lauderdale, FL. He is active in the community, and has served on the Board of Directors of the Broward Alliance, the local chapter of CoreNet Global, and Junior Achievement of South Florida. He is a native of Fort Lauderdale and holds a bachelor’s degree in Business Administration from Florida Atlantic University, Boca Raton, FL.

About Stiles

Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include leasing and brokerage, property management, development, construction, architecture, acquisitions and financing.  Headquartered in Fort Lauderdale, Stiles also has regional offices in Miami, Fort Myers, Tampa and Orlando, Florida. Stiles is responsible for more than 37 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://www.stiles.com or call 954-627-9300.