Tag Archive for: greg martin

Beacon Square Sells In Largest Sale Transaction In Palm Beach County For 2013

/in , /by

Avison Young’s South Florida operations announced the largest office building sale transaction in Palm Beach County to date in 2013, overseeing the sale of Beacon Square, a 160,000-square-foot building located at 8051 Congress Avenue in Boca Raton.

Avison Young Principals Keith O’Donnell and Greg Martin, and Associate Jonathan Senn, represented the seller during the transaction. The buyer, SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure across North, Central and South America. The company plans to use the building as their corporate headquarters.

“The Beacon Square building was originally designed for IBM’s exclusive use, however, we carefully planned the building to be flexible and accommodate other users down the road,” said Mr. O’Donnell. “The movement we are seeing from both large and small businesses transitioning from leasing to owning their space is a trend we expect to continue as tax laws change, enhancing the benefits of ownership, and the supply of new space remains limited.”

According to recent market trend reports, office properties in Palm Beach County witnessed a decrease in total vacancy as a result of growth in housing, employment and the economy in 2013. Along with the West Palm Beach submarket, Boca Raton was a contributing factor to the majority of the positive activity in the market this year.

Beacon Square is a four-story, class A office building which features an open layout, highly upgraded finishes, hurricane-resistant windows and a dining facility. Following the sale, SBA will temporarily remain in their current building, as renovation will occur to repurpose the property for SBA’s use and future expansion.

Gregory Katz, Executive Vice President with Studley, represented SBA Communications Corporation.

 

Avison Young Inks 17,000 SF Office Lease Deal

/in , /by

Online Vacation Center Holdings Corp., one of the country’s largest cruise retailers, has signed a new long-term lease for 17,225 square feet at Riverbend Corporate Park Building B, located at 2307 W. Broward Boulevard in Fort Lauderdale.

Greg Martin, Principal with Avison Young, worked with True North Management Group and Delma Properties, Inc., the new ownership of Riverbend Corporate Park, to complete the transaction.

The addition of Online Vacation Center increases the occupancy at the 66,917 square foot office building to 75 percent, a gain of more than 25 percent.

“The notable lease transaction with Online Vacation Center is an example of increased corporate optimism overall in the Broward market, specifically in Fort Lauderdale,” said Martin. “With plans for further office space development plus new retail in the area, Riverbend Corporate Park is the ideal place to locate and grow a business for years to come, with room to expand.”

“Online Vacation Center was seeking an impressive new location with convenient access to transportation and major thoroughfares for employees,” noted Martin. “At the nexus of the region’s existing transportation network and emerging transit hub, Riverbend Corporate Park presented a valuable solution to the office space needs of the company.”

Online Vacation Center was represented by Julie Berry, Broker Associate with Stiles Realty.

Greg Martin Closes 53,000 SF Of New Lease Deals At Charter Place

/in /by

Avison Young South Florida signed four new leases at Charter Place, a 101,829 square foot office and retail complex located at 3301 N. University Drive in Coral Springs.

The long-term lease transactions at Charter Place include:

  • The Department of Revenue signed a new lease for 25,605 square feet
  • Business Financial Services, Inc., a firm offering alternative financing solutions for small business owners, signed a new lease for 16,776 square feet
  • Sola Salon Studios, a company providing high-quality salon suites for independent salon professionals and business owners, signed a new lease for 6,051 square feet
  • Foundation Therapy, Inc., an establishment providing Applied Behavioral Analysis services for children and families, signed a new lease for 4,350 square feet

The leases, which total 52,782 square feet, increase the occupancy at the building by 52 percent and mark the second time Avison Young South Florida has doubled occupancy at a property within the last 12 months.  Earlier this month, Avison Young announced 43,000 square feet in new lease transactions at Lynn Financial Center, bringing occupancy from 35 to 75 percent.

Greg Martin, Principal at Avison Young, worked with True North Management Group and Delma Properties Inc., the new ownership of Charter Place, to complete the recent transactions. As a result, the occupancy at Charter Place increased with high caliber tenants to nearly 70 percent.

“We are very pleased with the progress that we have made in such a short time,” said Mr. Martin. “The new ownership has been very cooperative in understanding the market and the needs of the Coral Springs tenant base which assisted in our leasing efforts.”

Charter Place is the first phase of the new Downtown Coral Springs, a public/private partnership between a local developer and the City of Coral Springs.

“Charter Place is a high quality asset which attracts and retains gold standard businesses,” said Todd Benson, Vice President, Florida Region, at Delma Properties. “The new additions will complement the existing marquis tenant mix including Merrill Lynch, First Southern Bank, and Wells Fargo.”

Greg Martin, Keith O’Donnell Sign 43,000 SF

/in , /by

Avison Young South Florida signed five leases, including one expansion, totaling 42,736 square feet at Lynn Financial Center located at 1875 NW Corporate Blvd. in Boca Raton.

The transactions increased the occupancy at Lynn Financial Center from 35 to 75 percent.

On behalf of the landlord, Avison Young South Florida Principals Greg Martin and Keith O’Donnell and Director of Leasing David Bateman, completed the following transactions:

  • Polen Capital Management, a South Florida based investment management firm, signed a new long-term lease for 12,904 square feet
  • JVB Financial, a national investment firm specializing in the wholesale distribution of fixed income securities, signed a new long-term lease for 9,601 square feet for its new headquarters
  • MDVIP, Inc., a network of physicians and division of Proctor & Gamble, signed a renewal and expansion for 9,325 square feet, totaling 31,084 square feet within the building for its headquarters
  • Frank, Weinberg & Black P.L., a full-service law firm with additional offices in Broward County, signed a new lease for 6,973 square feet
  • Opus Business Centers, a virtual office space provider, signed a new long-term lease for 3,933 square feet to house its corporate headquarters and Boca Raton service operations

“With the support of ownership, we were able to aggressively market the unique virtues of this property,” said Mr. Martin. “In spite of the economic uncertainties we knew we could identify companies that were positioned for the long haul and would be drawn to a quality asset.”

Lynn Financial Center offers twin buildings totaling 123,882 square feet of Class “A” office space in two innovative three-story structures. The buildings are free of interior columns and designed to support open office architecture with extensive use of natural light and sustainable materials which made Lynn Financial Center one of Boca Raton’s first commercial office projects to be Certified LEED® Gold by the U.S. Green Building Council (USGBC).

Avison Young opened its South Florida offices in 2012 with 30 members joining from Flagler Real Estate Services, a service arm of Flagler, one of Florida’s oldest and largest full-service commercial real estate companies with recent transactional and development activities totaling more than $1 billion.

Big Changes At The Arbors Office Park

/in /by

Commercial investor RexxHall Realty has expanded its South Florida holdings beyond apartments to include office space with the $12.75 million purchase of the The Arbors Office Park in Delray Beach.

And with the new owner comes new leasing representation…at least that’s the word on the street.  Rumor has it that Deborah Fink and Jeff Kelly of CBRE have been awarded the leasing assignment.  The office park was being represented by Molly McDonough and Greg Martin of Flagler Real Estate Services.

The three buildings that make up the office park, located at 1615, 1625 at 1690 S. Congress Ave., were built in 1981 and total 244,247 rentable square feet. It is 45 percent occupied.