Tag Archive for: cushman & wakefield

Cushman & Wakefield Hires Director

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Cushman & Wakefield has hired Ron Granite as a Director, joining the Equity, Debt and Structured Finance platform and as a member of the South Florida Office and Industrial Capital Markets team. His responsibilities will include business development and assisting clients in procuring debt and equity solutions across all commercial property groups. He will work out of the Boca Raton office.

“Ron is a seasoned professional with a proven track record and will add significant value on behalf of our clients by supporting crucial capital markets functions,” said Mark Pateman, Esq., Managing Principal of Cushman & Wakefield’s Palm Beach County offices.

Prior to joining Cushman & Wakefield, Granite was a Director at Eyzenberg & Company, where he originated debt and equity financing requests, and provided capital markets solutions to clients and advised on financing options per distinct investor strategies. Previously, he was a Portfolio Manager at IRC Retail Centers, Vice President of Portfolio Management at Rouse Properties, LLC, and Director of Portfolio Management at Brixmor Property Group.

“I am honored to join Cushman & Wakefield, a company I have respected for its national platform, top-tier client service and culture,” Granite said.

Granite is a member of ULI, NYPEN, NYU Alumni Association and the Stuyvesant Alumni Association (SHSAA).

 

C&W’s Holding, Belt & Jolley Close 68,000 SF Of Office Transactions

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Cushman & Wakefield’s Broward County Office Tenant Representation team of Jeff Holding, A.J. Belt, and Christina Jolley arranged 10 office transactions in the second quarter totaling 68,024 square feet.

“We are experiencing a once-in-a-lifetime pandemic, yet our clients continue to focus on the future beyond Covid-19, realizing companies still need to maintain an office presence,” Belt said.

The team’s largest transactions during the second quarter are as follows:

  • The team represented Kovack Securities in a 16,769-square-foot renewal at 6451 N. Federal Highway in Fort Lauderdale
  • The team represented a national financial services client in a 14,203-square-foot renewal at 350 E. Las Olas Boulevard in Fort Lauderdale
  • The team represented Perspective One, LLC, in its acquisition of an 11,970-square-foot office building located at 312 SE 17th Street in Fort Lauderdale
  • The team represented Nordic Aviation Capital, Inc in a 10,000-square-foot sublease at 401 E. Las Olas Boulevard in Fort Lauderdale to Ubicquia, LLC
  • The team represented Kubicki Draper on an 8,571-square-foot renewal 13350 Metro Parkway in Fort Myers

“Because of the added unknowns due to the pandemic, demand for our team’s tenant advisory services are at an all-time high as clients seek strategic answers in solving for the future of the office while insuring that they are able to capture the most advantageous economic and flexible terms available in tomorrow’s office market,” Holding added.

 

Bridge Completes Sale of Class A Office Tower in Ft. Lauderdale

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Bridge Investment Group LLC’s (Bridge) subsidiary Bridge Office Fund Manager (Bridge Office) has completed the sale of Bayview Corporate Tower, a 12-story, 413,833-square-foot Class A office building and five-story covered parking garage located at 6451 N. Federal Highway in Fort Lauderdale.

Bridge acquired the asset in September 2016 and has executed more than 265,000 total square feet of leasing agreements since, including approximately 235,000 square feet within the past 18 months. Notable tenants include CHG Healthcare, Whole Foods Market, CentralReach, Envision Pharm Group and Kovack Securities. More than 50% of the building’s executives reside within minutes of the property.

The property underwent a $5 million repositioning plan. Recently renovated areas include the lobbies common areas and move-in ready office suites as well as the addition of a new amenity lounge and game room, health club-level fitness center, onsite café and outdoor picnic area.

“The successful disposition of Bayview Corporate Tower reflects Bridge’s keen understanding of the Fort Lauderdale market and next-generation workspaces today’s tenants are looking for, which has taken on even greater importance in the new post-COVID era we are now entering,” said Kelly Kuykendall, director of Asset Management at Bridge Investment Group. “The building’s spacious floor plans enable the type of flexible workspace now essential for many businesses, and the high quality of capital improvements positions the property for long-term prosperity as one of Broward County’s most desirable workplace communities.”

Dominic Montazemi, Mike Davis, Rick Brugge, Rick Colon, Scott O’Donnell, Greg Miller, Mike Ciadella and Miguel Alcivar of Cushman & Wakefield represented Bridge in the transaction.

Following the disposition, Bridge’s Florida portfolio includes eight additional properties, including the 101,405-square-foot 5601 Hiatus Road and the 514,330-square-foot Sawgrass Technology Park in Broward County, the 241,750-square-foot Fountain Square in Boca Raton and 775,000 square feet across three assets in Miami-Dade County.

Cushman & Wakefield Tapped To Lease 5-Building Office Park In Broward County

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Grover Corlew has selected Cushman & Wakefield to oversee leasing at the 218,827-square-foot Hillsboro Center in Deerfield Beach.

John Criddle and Joseph Freita will lead leasing efforts.

Recently, Black Creek Group also tapped the brokerage company as the exclusive leasing advisor for the Bank of America Tower in Boca Raton, located some 4 miles north.

Situated at 700 Hillsboro Blvd., Hillsboro Center I, II, III and IV comprise 100,401 square feet and are currently 88.7 percent leased, while the 118,426-square-foot Hillsboro Center V is located at 600 Hillsboro Blvd. and is 92.8 percent leased. The tenant roster includes Humana, Darby Dental and Pylon Manufacturing Corp. The properties offer a parking ratio of 5 spots per 1,000 square feet, a café and on-site property management and security.

The office buildings are just east of Interstate 95, within walking distance of several hotels, including a Hampton Inn and a DoubleTree by Hilton. Hillsboro Center is less than a mile from the 1 million-square-foot Hillsboro Technology Center and the JM Family Enterprises headquarters, which is undergoing a $150 million renovation.

The 1980s-built buildings last traded in March 2019, when Grover Corlew acquired them from TriGate Capital.

 

Source:  CPE

Cushman & Wakefield To Lease ±61,000-SF Broward County Office Building

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Cushman & Wakefield was named exclusive leasing advisor for 1400 East Newport Center Drive, a ±61,408-square-foot office building in Broward County.

The Cushman & Wakefield brokerage team of John Criddle and Joseph Freitas was selected to lease the building on behalf of Fort Lauderdale, FL-based building owner NRNS Acquisition Newport LLC.

1400 East Newport Center Drive was developed in 1987 on a ±4.5-acre site in Deerfield Beach. The building features ample parking with six spaces per 1,000 rentable square feet, a fully redundant generator and fully wired cubicles available for use. The asset is currently being renovated. Upgrades include refurbished interior common areas, an updated exterior entrance with a new porte-cochère, refined landscaping and new exterior paint.

The building is 67.4% leased with ±20,000 square feet available at rents ranging from $23 to $25 modified gross plus electric and janitorial. Notable tenants include Harte-Hanks and Freedom Mortgage Corp.

1400 East Newport Center Drive is ideally positioned in the Newport Center office park, offering immediate access SW 10th Street and Interstate 95.

“1400 East Newport Center Drive offers tenants the opportunity to occupy renovated space in a central location at rates that compare very favorably to competitive properties in this and neighboring submarkets,” said Criddle

“Many tenants targeting this market have unique requirements and place tremendous value upon ample parking ratios and reliable backup power,” added Freitas. “1400 East Newport Center Drive is an ideal location for these types of operations.”

 

Cushman & Wakefield Tapped To Lease New 70,000 SF Office Building In Palm Beach County

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Cushman & Wakefield’s John Criddle and Joseph Freitas were named exclusive leasing advisors for ±70,000 square feet of office space in Pebb Capital’s new Sundy Village, a transformative, mixed-use development in Palm Beach County.

Sundy Village is a ±7.0-acre project to be developed in the area surrounding the Sundy House, the oldest house in Delray Beach and current site of a restaurant, boutique inn and botanical garden. The land previously housed the city’s first church, schoolhouse and bank. Portions of the site are listed on the National Register of Historic Places and will be preserved during the development process.

sundy village rendering

Sundy Village is expected to encompass ±50,000 square feet of dining and retail as well as ±70,000 square feet of Class A office space spread across four buildings. Initial office rental rates are expected to range from $45-$50 NNN.

Located at 20 W. Atlantic Ave., Sundy Village is conveniently situated in downtown Delray Beach and will serve as the premier entrance to the dynamic live-work-play Atlantic Avenue corridor, home to an exceptional array of high-end restaurants, hotels, retail and entertainment options, and within walking distance of the city’s historic and scenic neighborhoods.

“The office space at Sundy Village will accommodate a wide range of tenants in state-of-the-art, energy-efficient buildings offering a unique mix of traditional architecture and modern design with underground parking,” said Criddle. “The asset will be the most unique and exciting fully-amenitized Class A office project in the Atlantic Avenue district.”

Added Freitas, “Sundy Village’s location sets it apart from the rest of its competitors in the market. The project is less than one mile from Interstate 95, offering tenants the city’s best access to the interstate while remaining within walking distance of all that burgeoning downtown Delray Beach has to offer.”

“With leasing positioned to be underway, we’re one step closer to realizing our goal of bringing positive economic impact to this Opportunity Zone asset,” said Todd Rosenberg, co-founder and Managing Principal of Pebb Capital. “Our Class A office product, primely situated at the gateway of downtown Delray Beach, will not only foster connectivity, but provide tenants access to a lifestyle retail experience that is very unique to the area.”

Pebb Capital will break ground on Sundy Village this summer. The entire project will be completed in phases, with the final phase expected to be delivered in 2024. Pebb Capital acquired the distressed property for $40 million in October 2019.