Tag Archive for: peter reed

Silberling Rejoins Sacks And Reed

/in /by

Ken Silberling has joined Commercial Florida Realty Services, LLC as a Principal, focusing on office leasing and investment sales.

Silberling had been Vice President of Leasing and Acquisitions and Director of Business Development at Danburg Management Corporation since 1999.  At Danburg, a Boca Raton based commercial real estate investment and development firm, Silberling was instrumental in growing the portfolio from 150,000 to over 1 million square feet and completed well over 500 office and industrial lease transactions.  Ken holds a Master of Business Administration from Georgetown University.

At Commercial Florida, Silberling rejoins George Sacks and Peter D. Reed, Principals of Commercial Florida Realty Services, with whom he had worked at the original Commercial Florida in the late 1990s. Sacks sold the assets of the original Commercial Florida to Grubb and Ellis in 1999, but re-formed the company in 2005.  At Commercial Florida, Silberling will be looking to grow the company’s third party leasing and management business and source investment opportunities.

“I’m really excited to be back with George and Pete.” said Silberling “There is certainly a level of comfort and mutual respect. I feel our skills complement each other and that together we can provide a range of services that is unique to the market.”

“What I like about Commercial Florida 2.0 is that our platform now combines leasing, management and sales. We have an a-la-carte menu of services that we can tailor to a client’s need. In addition, we have all been involved from the ownership side, so we have a true understanding of what today’s real estate owner needs. And while we’re all a bit older and wiser, I’ve learned a few new tricks, so we’re at the cutting edge as far as marketing and technology.”

Commercial Florida has also resumed production of its semi-annual office market reports. “Our market information is what differentiated us and helped establish our brand back in the 90s” said Sacks. “While Co-Star and others have changed the landscape for data collection, the need for intuitive interpretation of the data is more important than ever. While Ken won’t be writing the reports like he did previously, he will certainly add his own unique and often entertaining perspective.”  “It’s a lot easier to compile the data and create pretty graphics these days,” added Silberling, “but our real job is to translate the data into actions that will help owners maximize their property values. I believe we have the talent to do that as well as anyone in the market.”

Deals, Deals, Deals!

/in /by

Michael Rauch leased 10,000 square feet of distribution and headquarters office space to Mark V Concepts, Inc., a New York-based company and major supplier to QVC. The property is located in Broward County in the Pompano Beach Gateway Industrial Park. Michael Rauch, senior partner of Rauch Hartman Scherer & Company, represented the landlord and tenant in the transaction.

Peter D. Reed, Principal of Commercial Florida Realty Services, closed a lease transaction with ITT Technical Institute, a leading private college focused on technology-oriented programs of study, for 20,000 SF at Hillsboro Center, located at 700 W. Hillsboro Blvd. in Deerfield Beach. Reed represented Parkway Properties, Inc. (NYSE symbol: PKY), the landlord of Hillsboro Center.

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. The combined purchase price was $14,250,000 for the two buildings, which total over 180,000sf.

And, in one of the top office transactions in Palm Beach County in recent years, a partnership led by Butters Group, has sold the Class A office building Boca Village Corporate Center, for $32.85 million to BVCC Corp. of Miami.

Boca Village Corporate Center Under Contract

/in /by

The 100,000-square-foot Boca Village Corporate Center, one of the premier Class A office buildings in Boca Raton, is under contract for about $30 million to an investment group from Brazil. The developable land next door is not part of the deal, sources said.

The identity of the buyer was not known, but sources said the buying group is made up of individual investors seeking to park their
money in a stable, revenue-generating property. The character of the group is important because groups of individual investors from Brazil are increasingly interested in South Florida’s commercial inventory.

Malcolm Butters, Ned Segal and Art Falcone were partners in the development of the Boca Village Corporate Center, at 4855 Technology Way. Tenants include professional services firms like Oppenheim and Smith Barney.

Butters Construction and Development would not comment on the possible sale. CB Richard Ellis’ Chris Lee and is representing both parties in the deal, was not immediately available for comment.

Peter Reed, principal with Commercial Florida Realty Services, which is not involved in the deal, said the interest in Boca Village, which may sell for as much as $300 a square foot, is justified because of its location, the quality of the building and the solid tenancy.

Tom Capocefalo, managing director with tenant representative firm Studley, was not involved in the deal, but said the “top tier” tenancy and the small number of trophy office buildings in Boca Raton drove the price.

Source:  SFBJ

Sacks And Reed Close15,000 SF Expansion

/in /by

George Sacks and Peter D. Reed, principals of Commercial Florida Realty Services, announced a 15,298sf lease expansion transaction.

Before the Atlanta-based law firm of McCalla Raymer, LLC had an opportunity occupy its new 15,298sf office at 110 Tower in Downtown Fort Lauderdale, the firm exercised its pre-negotiated option to lease an additional floor.

McCalla Raymer has now leased the 24th and 25th floor or 30,596sf at the recently renovated 110 Tower.

The landlord, Genesis Capital Partners XI, Ltd., was represented by Transwestern. 110 Tower is now over 70% leased. The lease value is in excess of $5,000,000.

Source:  FREJ