Tag Archive for: cbre

Investment Firm Signs 79,000 SF Corporate HQ In Pebb Capital’s Sundy Village

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Diversified real estate and private equity investment firm Pebb Capital has signed a notable 79,141-square-foot office lease at Sundy Village for the headquarter relocation of DigitalBridge, one of the world’s largest digital infrastructure investment firms.

The announcement marks continued leasing velocity at the transformative mixed-use development in Delray Beach’s Atlantic Avenue District, with expected completion in the third quarter of 2024.

DigitalBridge will be situated at 100 SE 1st Ave., at the southeast intersection of First Street and First Avenue. The office will serve as the main corporate location for more than 300 employees, moving from the current headquarters in Boca Raton. The multi-billion-dollar public company owns, invests in, and operates businesses across five key verticals: cell towers, data centers, fiber networks, small cells and edge infrastructure.

DigitalBridge’s building will be LEED certified and designed with sustainability in mind, including rooftop solar panels. The four-story structure will also boast covered walkways for employees and pedestrians alike, terraces and a sophisticated ground-floor lobby.

“The decision to transition DigitalBridge’s headquarters to Sundy Village will be a tremendous benefit for our team to be immersed in the heart of Downtown Delray,” said Marc Ganzi, DigitalBridge CEO. “Our expanded and modernized office will provide our company with new space for innovation and enjoyment of nearby experiences, from retail to dining, that make it an ideal setting.”

Sundy Village’s seven-acre campus style design presents a unique layout with a series of standalone, private office buildings. In addition to DigitalBridge’s headquarters, a collection of boutique ‘Class A’ office structures are available for lease, ranging from 5,776 to 12,600 square feet. Each will be delivered with the privacy of a single company occupying the building, direct elevator access from the garage and large outdoor terraces for an elevated work setting. Employees will have convenient connectivity to modern lifestyle, dining and retail offerings throughout Sundy Village and the surrounding downtown. Office tenants also include Pebb Capital, which will relocate its Boca Raton headquarters, and Vertical Bridge, the largest private owner and operator of communication infrastructure in the U.S. Beyond the boutique selections, limited office availability remains in the property’s main building.

“The addition of DigitalBridge will bring a sizeable workforce and tremendous utilization of the project’s amenity playground on a daily basis,” said Todd Benson, Pebb Capital Principal. “Coupled with our strategic securement of diverse restaurants and retail experiences, Sundy Village’s location and accessibility continue to be important attributes to creating a robust environment for companies and patrons.”

Designed by Gensler, Sundy Village will create a distinctive ambiance by blending contemporary urban design with historical elements, including the adaptive re-use of structures listed on the National Register of Historic Places. The project is one of the only master-planned ‘Class A’ office developments underway in Delray Beach. Hospitality tenants include new-to-market Barcelona Wine Bar, a “vibey, no reservations” bar with locations across 11 states; and a culinary venture by chef Michael Schulson, known for his successful restaurants in Philadelphia and Miami under the Schulson Collective brand.

Situated within a mile from Interstate 95, Sundy Village is poised to become the gateway to Delray Beach’s entertainment corridor at 22 W. Atlantic Ave. The project embodies a forward-thinking approach to business, hospitality and experiential development, incorporating open-air courtyards, airy walkways, green spaces, and indoor/outdoor dining, totaling in 30,000 square feet of retail space, 180,000 square feet of ‘Class A’ office space, 268 subterranean parking spots as well as a parking garage.

CBRE‘s Joe Freitas and John Criddle oversee office leasing, while retail leasing is managed by Sara Wolfe of Vertical Real Estate.

BH Group, PEBB Enterprises Secure New 20,000 SF Office Tenant

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BH Group and PEBB Enterprises finalized a 20,388-square-foot office lease with MN8 Energy at The Offices at 6600 N Military Trail in Boca Raton.

The transaction comes as the joint venture advances its substantial capital improvements program to unlock the vast potential of the site.

MN8 Energy is one of the largest and most sophisticated renewable energy companies in the U.S. It serves large organizations with renewable power generation, battery storage solutions, EV charging and more.

“We are thrilled to welcome MN8 Energy to The Offices at 6600 N Military Trail,” PEBB President and CEO Ian Weiner said. “This lease is a testament to the unique appeal of the site and our joint venture’s track record for enhancing such properties.”

BH Group and PEBB are currently converting one existing floor into spec office suites to create up to seven move-in ready offices for prospective tenants. The joint venture already is negotiating several letters of intent for the spec spaces. It has also started making upgrades to lobbies, common areas and amenity spaces.

Joe Freitas and John Criddle of CBRE are handling leasing at The Offices at 6600 N Military Trail (formerly known as the Office Depot headquarters) on behalf of BH Group and PEBB.

BH Group and PEBB acquired The Offices at 6600 N Military Trail site in April 2023. The joint venture was honored with the South Florida Business Journal’s Terry Stiles Deal of the Year Award during the publication’s annual Structures Awards event in recognition of the impactful acquisition.

The Offices at 6600 N Military Trail includes 650,000 square feet of office buildings on nearly 29 acres overlooking the Broken Sound Country Club’s golf course. It features an array of amenities for future office tenants to enjoy, such as a state-of-the-art fitness center, cafeteria, auditorium, many conference rooms and covered parking.

“Our partnership is already seeing strong demand for the existing office space,” Isaac Toledano of BH Group said.  “We look forward to unveiling our long-term plans for the overall site very soon. The Offices at 6600 N Military Trail can be a crown jewel for the City of Boca Raton and accommodate the incredible growth it is experiencing.”

 

CBRE, Berger Arrange Two New Fort Lauderdale Office Leases Totaling 16,000 SF

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CBRE has arranged two new office leases at Cypress Corporate Center in Fort Lauderdale totaling over 16,000 square feet.

Morgan Fidelity Associates, a national insurance brokerage company, signed a lease for 9,906 sq. ft., and Control Point Associates, a national land surveying and consulting firm, signed a lease for 6,166 sq. ft. They will be occupying spaces on the fifth floor in the first half of 2024. Both leases are relocations for the respective companies.

CBRE’s Gordon Messinger, Joe Freitas, and Max Pawk represented Cypress Corporate Center ownership, HS Capital, in each of the transactions. Both Morgan Fidelity Associates and Control Point Associates were represented by Michael Feuerman and Daniel Silver with Berger Commercial Realty.

Cypress Corporate Center is a six-story office building located at 1901 W. Cypress Creek Road. HS Capital recently acquired the building and has completed renovations, which include updates to the lobby, restrooms, common areas, building exterior, and landscaping. Additionally, there is a new tenant lounge, conferencing facility, and a micro-market open for breakfast and lunch options.

“HS Capital’s enhancements to Cypress Corporate Center have made it one of the most desirable buildings in the submarket with high visibility, the best parking ratio in submarket, and a deep talent pool,” said CBRE Executive Vice President Gordon Messinger.

According to a recent CBRE report, Class A office space in Fort Lauderdale’s Cypress Creek submarket has a direct vacancy rate of 14.1%, the second lowest rate in the region.

 

Walgreens Expands Office Space At Miramar Park of Commerce

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Walgreens has expanded its space in the Miramar Park of Commerce to include a training facility.

Walgreens added another 11,314 square feet to its office at 3130 Executive Way. With that new lease, Walgreens will occupy a total of 63,177 square feet in the park.

Iker Belauste, formerly of JLL and now affiliated with CBRE, represented Walgreens in the lease negotiations

 

Source:  SFBJ

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.”

 

Seasoned CRE Vet Joins Colliers As Executive Vice President

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Colliers announced that Scott Brenner has joined the firm as Executive Vice President based in South Florida.

In his new role, Scott will focus on providing quality advisory and transaction services based out of the Boca Raton office.

“At Colliers, we take pride in attracting exceptional talent throughout the region. We are delighted to add Scott’s diverse expertise to the firm,” said Julie Northcutt-Dunn, Executive Managing Director and Market Leader for Colliers South Florida. 

With over 35 years of experience, Scott has participated in all aspects of commercial real estate, including development, property management, brokerage, receivership, and banking.

Before joining CBRE as Executive Vice President, he was the President/CEO of Brenner Real Estate Group, a full-service commercial real estate firm that sold to CBRE in 2017. With unparalleled knowledge and skills, Scott propelled Brenner Real Estate Group to over a billion dollars in transactions over thirty years. In addition to being an industry leader, Scott is a licensed attorney, and his professional credentials include JD, CCIM, and SIOR.

Scott is an active member of various industry organizations, including The Realtor’s Association, NAIOP, BOMA, ULI, ICSC, and many more. Scott is a member and trustee of the Greater Boca Raton Chamber of Commerce and has served on many non-profit boards, including Habitat for Humanity, 211 Broward, Jewish Federation, ADL, Jewish National Fund, and Hillel.