Mike Crissy and Alfie Hamilton of Pointe Group Advisors have been awarded the leasing assignment for the Galleria Professional Building in Fort Lauderdale.
The building is 60,000 SF and sits along the Middle River adjacent to the Galleria Mall.
The building is owned by the Cornfeld Group, which previously handled the leasing in-house.
Rumor has it that Alice Lucia of Jones Lang LaSalle has been reunited with Rudy Touzet of Banyan Street Partners. The two worked together in the early to mid 2000s before Lucia joined JLL in 2006.
Word is that the leasing efforts at Tower 101 , which was recently purchased by Banyan Street Partners, an entity led by Touzet, are now being led by Lucia.
The 230,238 square foot asset was long represented by Owen Sager, who left Grubb & Ellis and joined CBRE back in January.
Banyan Street Partners, led by Rudy Touzet, has paid $28.7 million for the two-building Tower 101, located at 101 NE Third Avenue in Fort Lauderdale, according to a press release.
The asset consists of a six-story building built in 1986 with a 20-percent occupancy and a 19-story building built in 2001 with a 90-percent occupancy. The two buildings, joined through a common lobby, total 230,238 square feet.
The seller was CAPROC in coordination with lender Principal Life Insurance.
CBRE marketed the property on behalf of the seller and put together the financing package for the buyer through Sabadell United Bank, which provided a loan of more than $19 million.
Attorney Jason Post of Stearns Weaver represented Banyan Street and attorney Stuart Kapp of Proskauer Rose represented CAPROC.
Source: SFBJ
CBRE, Inc. has been hired to sell the Sabadell United Bank Building, a 12-story, 113,567 square foot asset in West Palm Beach, along with its five-level structured parking garage.
The asking price is $16.5 million, or $145 per square foot.
Built in 1980, the building is 86.9 percent occupied. The occupancy of the building is expected to decrease to 80 percent with the pending relocation of Rosenthal & Levy. Outside of Rosenthal & Levy, 19.4% of leases are expiring on a PSF basis through 2014.
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, in November 2011.
The combined purchase price was $14,250,000 for the two buildings.
Since then, the property has been significantly repositioned with over $700,000 in common area and building system improvements.
Source: CityBiz
Bunzl Distribution Southeast, Inc., a re-distributor of paper and plastic disposable products to the janitorial and foodservice industries with 90 branches throughout North America, has renewed its lease of 76,326 sq. ft. of space at 9702-9376 Premier Parkway in the Miramar Park of Commerce.
“We chose to renew in the Miramar Park of Commerce in large part because of the proximity to major highways for our trucks,” said Bunzl South Florida General Manager Viktor Frengut. “Also, Sunbeam has always been fair and good to work with as our landlord.”
Representing the Park in the transaction was Ryan Goggins of Sunbeam Properties, developer of the Park. Representing Bunzl Distribution Southeast, Inc. was Mark Sonnenberg of LaSala-Sonnenberg Commercial Realty.
“We value our tenants and do all that we can to retain them,” said Vice President of Sunbeam Properties Maridee Bell. “So when Bunzl expanded in the Park about 18 months ago, we worked closely with them to meet their needs. That in turn led Bunzl to renew its lease with us now.”
The Keyes Company is announcing a merger with Burst Commercial Real Estate Services, Inc., in order to form a new entity specializing in commercial real estate.
John Geisen, Executive Vice President, will direct the new company, KRES Commercial, a subsidiary of The Keyes Company. Mr. Geisen was formerly associated with CB Richard Ellis and Codina / Flagler Real Estate Services. According to Mr. Geisen, “We feel the merger with Burst Commercial demonstrates our commitment to the commercial real estate market, and will help expand our presence in South Florida.”
Burst Commercial Real Estate Services was founded by Tom Burst in 1996, and has been a strong influence in the commercial real estate market ever since. Burst has been active in commercial real estate since 1986 when he first worked with Geisen at CBRE. According to Mr. Geisen, “It seems very natural that Tom and I would reunite after having worked together more than 20 years ago.” Burst, who will serve as Director of Properties at KRES Commercial, commented “I like the idea of putting the old team back together; it will be fun.”
The Keyes Company is expanding in order to provide a superior level of real estate service to national, regional, and local real estate owners throughout Palm Beach County and South Florida. KRES Commercial will focus on the sale, leasing, and management of office, industrial and retail commercial properties. “This is the best team to provide the highest level of service to our commercial clients,” said Mike Pappas, President and CEO of The Keyes Company.
