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NAI Merin Hunter Codman Secures 12,000-SF, 10-Year Office Lease At Oakbrook Center In Palm Beach Gardens

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NAI Merin Hunter Codman, Inc. has successfully finalized an ±11,800-square-foot lease transaction at Oakbrook Center on behalf of the landlord, WFMHC Golden Bear Owner LLC.

HotelPlanner.com operated by Lexyl Travel Technologies, LLC, will relocate its headquarters from Downtown West Palm Beach to Oakbrook Center, located at 11760, 11770, & 11780 US Highway One, in Palm Beach Gardens.

NAI Merin Hunter Codman Principal Jason Sundook led the lease negotiations between HotelPlanner.com and Oakbrook Center ownership.

HotelPlanner.com is a leading travel technology company that integrates proprietary artificial intelligence with a 24/7 global gig-economy-based travel agent concierge platform to serve travelers’ hotel needs. Founded in 2002, with offices in London, The Netherlands, and Singapore, HotelPlanner.com’s global headquarters has been located in Downtown West Palm Beach for a decade. Initially operating out of Phillips Point before moving to the PNC Bank Building at 205 Datura, this three-time honoree of Inc 5000’s list of fastest-growing private companies has chosen to relocate their headquarters to Oakbrook Center in Palm Beach Gardens.

Oakbrook Center is a 243,000-square-foot, Class-A office complex featuring three buildings. The property boasts private stacked terraces, floor-to-ceiling windows, lush courtyards, and stunning water views. Additional amenities include a complimentary fitness center, three types of parking (underground garage, covered, and surface), first-class property management, and onsite maintenance.

Sundook, Principal of NAI Merin Hunter Codman, commented on the choice to move to Palm Beach Gardens, “When our global, national, and regional clients approach me about relocating their headquarters or establishing a Palm Beach County presence, Palm Beach Gardens and Oakbrook Center are always part of the conversation. Palm Beach Gardens is a well-known finance, medical and tech hub, offering a strong labor pool, easy access for commuters, no congestion, and plenty of free parking. Additionally, the North Palm Market can offer 25-50% lease rate savings over Downtown West Palm Beach. Oakbrook Center’s competitive rates and excellent amenities allow the property to stand above the county’s competitor properties.”

 

Tim Hentschel, CEO of HotelPlanner.com, stated, “This move is an upgrade for both our employees and our company’s bottom line. Oakbrook Center offers the same luxury feel as the quality hotels we serve. Our new penthouse suite boasts two exterior patios and floor-to-ceiling windows, providing a bright, inspiring workspace with stunning Intracoastal water views. Our employees will also enjoy amenities such as a fitness center, courtyards, and convenient parking, all while benefiting from efficient commute times and easy access to nearby services.”

Oakbrook Center was purchased by WFMHC Golden Bear Owner LLC a joint venture between, MHCommercial Real Estate Fund LLC (“MHCREF”) and Waterfall Asset Management, LLC.

Jordan Paul, Chief Executive Officer of NAI Merin Hunter Codman stated, “We are thrilled to welcome HotelPlanner.com to Oakbrook Center. They are a fast-growing industry leader that compliments the outstanding tenant roster that we have at Oakbrook Center. We look forward to serving as their corporate headquarters and supporting their business for years to come.”

 

Broward Office Building Sells To Local Family

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The largest office building in Northwest Broward County has a new owner.

EH University Place LLC, an entity controlled by Essig Holdings, has completed its purchase of University Place at 3111 N University Drive in Coral Springs. They are acquiring the building from a partnership led by Bristol Group, a leading real estate investment and development group based in San Francisco.

CBRE represented Bristol and its partner, Butters Construction & Development, in the sale for $3o million.

At 10 stories, the landmark 263,000-square-foot, Class A building visually dominates the city’s central commercial district, which spans along University Drive just south of Sample Road in close proximity to City Hall, Northwest Regional Library, Coral Springs Charter School, and the Broward Health Coral Springs hospital campus.

The Colliers South Florida office leasing team of Darcie Lunsford and Caroline Fleischer has been chosen to handle leasing and marketing of the asset.

The purchase will usher in a new wave of luxury office space and leasing opportunities for the suburban, residentially-dense communities of Northwest Broward.

“University Place is already the highest-quality and best-amenitized office building in the market,“ said Lunsford, who has been involved with the leasing of the building for a decade. “This new ownership will make it even better by reinvesting to deliver a level of well-appointed office interiors, typically reserved for uber-pricey downtown trophy towers.”  

Plans are already underway to build out ready-to-go, high-end office suites, aimed at serving businesses seeking the latest, most forward-thinking design elements to enhance the work experience.

“Bristol Group did a beautiful job in renovating the building. We look forward to enhancing it further in this thriving Coral Springs community,” said Dan Essig, President of Essig Holdings.

The Essig family has a long-standing real estate presence across the country in single/multi-family residential, industrial warehousing, self-storage, and other commercial properties, but is best known locally for founding Essig Pools and Artistic Paver Manufacturing. Essig Holdings is a father-son team with a focus on acquiring and improving commercial real estate assets across South Florida.

“We love Coral Springs,” Sam Essig, Vice President of Essig Holdings said, “We believe our plans will elevate University Place to the next level, setting a new standard for office space in the market.”

University Place is home to many of the region’s leading companies, including Cruise Planners, the nation’s lagest homebase travel agent franchise network, and popular restaurants, such as Tap 42 Craft Kitchen & Bar, Playa Bowls, and Embarcadero 41.

 

Construction Company Inks Sublease Deal For 20,000 SF In Downtown Fort Lauderdale

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Core Construction Services of Florida has signed a sublease for a 20,000-square-foot office in Downtown Fort Lauderdale, taking over space previously occupied by Alms Health.

Located at 1 East Broward Boulevard, the sublease has 46 months remaining, according to Platinum Properties. Brokers Steven Evans and Brian Peer of Platinum Properties represented Alms Health in the transaction.

Listed at an annual rate of $24 per square foot, the total lease value is approximately $1.8 million, per a Platinum Properties representative.

Core Construction plans to open its new office on April 1 and intends to remain in the space beyond the sublease term.

Colliers’ Alfie Hamilton represented Core Construction in the deal, while Jeff Holding and Trent Slattery of Cushman & Wakefield represented Alms Health. Alms Health had occupied the office for nearly a decade.

Originally built in 1985, the 354,759-square-foot office tower was purchased by Pacific Coast Capital Partners (PCCP) in 2018 for $108.5 million, according to property records. Since 2023, the Los Angeles-based owner has invested at least $2.7 million in renovations to the 19-story building.

 

Source:  Commercial Observer

IPA Closes Palm Beach County Office Building Sale

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Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Peninsula Corporate Center, a three-story, 48,829-square-foot office building in Boca Raton.

The building sold for $15.3 million.

“The property is 100% occupied by 54 tenants representing a variety of industries,” said Douglas Mandel, IPA executive managing director. “Short lease terms and below-market average rents give the buyer an opportunity to significantly increase revenue.”

Mandel and Marcus & Millichap’s Zach Levine and Joshua Gilbert represented the seller, BREF 950, LLC, an entity affiliated with Malcolm Butters, and procured the buyer, an affiliate of Bark Management, a Boca Raton-based real estate investment company.

Located between Boca Raton and Delray Beach, the building is visible from Congress Avenue, which sees over 30,000 vehicles per day and provides access to Interstate 95. The Florida Turnpike is nearby and within three miles, the average annual household income is over $106,000.

Built in 2006, Peninsula Corporate Center offers a unique array of features, including private restrooms and mini kitchens in each of the 54 suites. The building also provides hurricane impact glass, two elevators, a back-up generator, lush courtyard, and an atrium fountain.

 

Hines’ T3 FAT Village Goes Vertical

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Blanca Commercial Real Estate, in collaboration with Hines, the global real estate investment manager, and Urban Street Development, announced that construction is underway on T3 FAT Village, an innovative office component within the larger 5.5-acre FAT Village development currently under construction at 501 Andrews Avenue in Downtown Fort Lauderdale.

With an anticipated delivery in November 2026, T3 FAT Village is the only new office project of its kind currently rising in the Fort Lauderdale market. The office portion of the master plan marks a significant milestone as the first mass timber office building in the region and sets new standards for sustainability and innovation in South Florida’s commercial real estate landscape.

“With its cutting-edge timber design and unparalleled sustainability, T3 FAT Village is set to become the heartbeat of Fort Lauderdale’s office scene, attracting visionary companies eager to redefine their workspaces,” said Tere Blanca, Founder, Chairman and CEO of Blanca Commercial Real Estate. “It is an honor to play a role in delivering such an innovative project to our community.”

As the only new office building in Fort Lauderdale, T3 FAT Village stands out with its innovative mass timber construction, offering tenants a unique blend of sustainability and modern design that is unmatched in the market. The project is the latest addition to Hines’ acclaimed T3 (Timber, Transit, Technology) portfolio, delivering unparalleled access to transit, cutting-edge design, and a focus on sustainability. Catering to modern businesses seeking collaborative and efficient workspaces, T3 FAT Village underscores Fort Lauderdale’s commitment to progressive development and increased involvement in reshaping the office market in South Florida.

The broader FAT Village development, which broke ground in March 2024, spans 5.6 acres across the vibrant Flagler Village neighborhood. This integrated, mixed-use creative office, retail, and residential urban development celebrates the history and artistic spirit of the area. This dynamic new district will add to Fort Lauderdale’s live-work-play urban environment, introducing curated food and beverage options, entertainment, and art galleries alongside the workplace component.

Conveniently located within walking distance of Fort Lauderdale’s Brightline station, FAT Village provides seamless connections to Miami, Aventura, Boca Raton, West Palm Beach, and Orlando. Its proximity to cultural attractions, the Las Olas corridor, major highways,  Fort Lauderdale-Hollywood International Airport, and Port Everglades add to its appeal as a hub for urban connectivity.

“As the first mass timber office building in the region, T3 FAT Village is not just changing the skyline, it is redefining how we think about workspace design, sustainability, and urban living in Fort Lauderdale,” said Christina Jolley, Senior Vice President & Broward Market Leader at Blanca Commercial Real Estate. “FAT Village combines sustainability, wellness, and accessibility, and is set to become the new center of gravity for Fort Lauderdale,” she added. 

The first phase of the development will feature 180,000 square feet of creative office space in the East Building, along with 600 multifamily residential units spanning over 400,000 square feet. Additionally, experiential retail spaces will anchor the base of every building, encompassing approximately 80,000 square feet, with the total project size reaching over 800,000 square feet.

“T3 FAT Village is more than a building, it is a bold statement about where Fort Lauderdale’s future is headed,” said Alan Kennedy, Managing Director at Hines. “By combining cutting-edge sustainability with innovative design, we are creating a workspace that will set a new standard for the area. As Fort Lauderdale continues to grow dynamically, T3 FAT Village will stand as a benchmark for the next generation of businesses seeking to thrive in a modern, connected, and environmentally conscious landscape,” he added. 

The office component of T3 features a heavy timber design that avoids over a thousand metric tons of carbon dioxide emissions – the equivalent to taking 996 cars off the road – while also supporting sustainable forestry practices by using young trees instead of old-growth timber. Other features include touchless technologies for enhanced hygiene, LEED Gold Certification, and WiredScore Certification, ensuring a best-in-class technology experience.  From panoramic views and private outdoor balconies to a state-of-the-art fitness center and social workspaces, T3 FAT Village delivers the ultimate modern office experience designed for both productivity and wellness. Set to deliver in November 2026, T3 FAT Village is poised to become the epicenter of innovation and sustainability in Fort Lauderdale’s growing office scene.

 

PPG Development Hopes To Bring Class A Office Building To Broward

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Ari Pearl’s PPG Development has submitted plans for a 25-story office tower in Hallandale Beach, positioned opposite its Shell Bay development. Shell Bay features an upscale country club with a golf course, luxury residences, a hotel, and premium condos still being built. PPG Development intends to relocate its headquarters to this new tower from its current spot within Shell Bay.

Pearl describes the project as a unique Class A office building, unmatched in South Florida for its extensive amenities. Located at 1800 E. Hallandale Beach Blvd. on a 14-acre plot, the tower will offer 235,664 square feet of office space, 10,862 square feet of retail, and 885 parking spaces. Its indoor perks will span 18,851 square feet and include a pool, spa, cold plunge, gym, sauna, steam room, massage area, sports lounge, lockers, collaborative workspaces, and a playroom for kids. Outside, tenants can enjoy padel ball, pickleball, a jogging path, and a lounge area.

This mix of residential-style features sets it apart from most South Florida office towers, which typically lack such offerings unless paired with condos or hotels. Pearl notes that companies expanding in the region increasingly seek top-tier offices with extras that go beyond standard Class A designs, catering to a lifestyle where convenience is key.

Designed by Miami’s Kobi Karp Architecture, the tower’s floor sizes will range from 19,120 to 20,125 square feet. Pearl has enlisted Cushman & Wakefield to promote the office space, with marketing set to begin within 30 to 60 days, aiming for a groundbreaking in six months. This would mark Broward County’s only significant office project outside downtown Fort Lauderdale currently underway.

Pearl praises the site’s prime location, nestled between two major airports, near Aventura’s Brightline station, off I-95, and close to hotspots like Gulfstream Park, Aventura Mall, and Bal Harbour Shops. He points to the growing number of affluent residents in nearby areas like Sunny Isles Beach and Bal Harbour, where Class A office space is scarce. With global firms—think private equity, banks, and tech—flocking to South Florida, Pearl is confident the right tenants will fill the building, though he’s keeping rental rates under wraps for now.

The project, valued at $140 million per the city’s development list, awaits a city hearing. PPG Development, via PPG 1800 HBB Owner LLC, bought the land for $13.95 million in 2023.

 

Source:  SFBJ