Tag Archive for: corfac international

Berger Commercial Realty’s Keith Graves, Lawrence Oxenberg Negotiate 10,500 SF Office Lease Deal

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Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM, SIOR and Vice President Lawrence Oxenberg negotiated a 10,488-square-foot office lease on behalf of the landlord, 900 SE 3rd Ave., L.P.

Bowman Consulting Group, Ltd., an engineering services company, will occupy the space at 900 SE 3rd Ave in Fort Lauderdale, relocating from its offices at 910 SE 17th St. in Fort Lauderdale. Brady Titcomb with JLL represented Bowman Consulting in the lease negotiation.

The 2000-built, 3-story boutique/professional office building, which totals 46,816 square feet, is located immediately next door to the new U.S. Federal Courthouse currently under development and within immediate proximity to the Broward County Courthouse, offering great access to SR 84/I-595, U.S. 1 and other governmental offices. The building is undergoing extensive renovation.

 

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.

 

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.