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Downtown Fort Lauderdale Leasing Veteran Norm Adams Joins CBRE As Senior Vice President

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CBRE has hired Norm Adams, who will serve as Senior Vice President in CBRE’s Fort Lauderdale office. Mr. Adams continues a career of pursuing investor leasing opportunities in downtown Fort Lauderdale and Broward County.

“Norm is a proven office advisor with more than 30 years of experience in the downtown market,” said David Bateman, Managing Director for CBRE’s offices in Fort Lauderdale, Boca Raton and West Palm Beach. “Not only is he a Fort Lauderdale native and resident, but Norm has the highest leasing volume in the history of downtown Fort Lauderdale. We are excited to welcome him to CBRE.”

Mr. Adams comes to CBRE from South Florida-based full-service real estate firm Stiles, where he oversaw the company’s downtown Class-A office portfolio. In his new role at CBRE, he will continue to represent Stiles, leasing over 300,000 square feet in their downtown Fort Lauderdale portfolio including the Class-A buildings Plaza at Las Olas and AutoNation Tower.

“I’m excited to join CBRE and engage with their global platform that’s known for delivering best-in-class real estate solutions to its clients,” said Mr. Adams.

Joining CBRE is a homecoming for Mr. Adams as he also spent ten years working for Trammell Crow Company. In his career, he has executed more than 500 transactions, valued over $500 million. His accolades include NAIOP’s Broker of the Year and Office Lease of the Year.

 

 

C&W’s Librizzi, England Arrange Three Leases Totaling 18,600 SF At Newly Renovated Office Building

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Cushman & Wakefield has arranged three leases totaling 18,581 square feet at 1700 Palm Beach Lakes on behalf of Capstone Realty Group.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord in the lease negotiations. Kubicki Draper signed a 10,978-square-foot lease, ASM Sports Group signed a 4,433-square-foot lease and Next Generation MRI signed a 3,170-square-foot lease.

“We are committed to making 1700 the premiere Palm Beach Lakes building, a strong alternative to the West Palm downtown market,” said Mitchell Adelstein, Managing Partner of Capstone. “Our Cushman leasing team did a superb job executing these leases by delivering the value differential for 1700 vs our competition.” 

The 11-story building totals 113,964 square feet. Recent renovation work includes a new lobby, café, conference center, outside seating/lounge area with new landscaping and installation of a Phenomenal Aire Series R Cold Plasma Generator which creates a plasma field within a HVAC system that naturally cleans passing air. Located just east of Interstate 95, the property is within walking distance of restaurants, hotels and shopping.

“These new leases are a direct result of ownership’s commitment to completely repositioning this asset to be the premier office building on the Palm Beach Lakes corridor which has resulted in demand unlike anything we’ve seen before,” Librizzi said.

 

Tiktin Real Estate Brokers $16.5 Million Sale Of Broward Office Building

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Tiktin Real Estate Investment Services (TREIS) announced the sale of an 11-story, 117,668 square-foot multi-tenant office building at 1250 E. Hallandale Beach Blvd. in Hallandale Beach.

The buyer, Soliman Corp., an affiliate of 1250 E. Hallandale LP, acquired the property from Murray Family Associates, an affiliate of KEI Properties, for $16.5 million.

Adam J. Tiktin, president and broker of TREIS, represented both the Buyer and Seller in this transaction.

The closing took place March 31st.

Originally constructed in 1973, the building is 78 percent leased. The city of Hallandale Beach is one of South Florida’s most dynamic and fast growing cities. The building is situated on over 2.5 acres of land and located just two miles from the Aventura Mall and less than a mile away from Gulfstream Park.

 

Financial Advisement Firm, Law Firm Take Office Space In Palm Beach

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Cushman & Wakefield has arranged two leases at 3001 PGA Boulevard in Palm Beach Gardens.

Anthony Librizzi and Tara England of Cushman & Wakefield represented the owners, Owens Realty Capital, in the lease negotiations.

Janney Montgomery Scott, a financial advisement firm, signed a lease for 7,031 square feet, and Cummings & Lockwood, a law firm providing a broad range of trust and estates services, signed a lease for 4,343 square feet.

“We are delighted to welcome Janney Montogmery Scott and Cummings & Lockwood to our building and are looking forward to the long-term relationship with them,” said Palmer Vietor, Vice President of Owens Realty Capital. “Being able to attract quality tenants such as Janney and Cummings & Lockwood was a driving factor behind the purchase of the building for us.”

Located in the heart of Palm Beach Gardens, the three-story building totals 67,500 square feet.

“3001 PGA is uniquely positioned to meet the growing demand of occupiers seeking newer Class A product and ownership groups who value the health and safety of their tenants in the same manner as tenants do their employees,” Librizzi said. “These transactions are the result of the owner’s ability to creatively achieve deals in an ultra-competitive environment.”

 

Cushman & Wakefield’s Deanna Lobinsky, Chase Kulp Arrange Two Office Leases Totaling 20,198 Square Feet

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Cushman & Wakefield has arranged two leases at BayView Corporate Tower in Ft. Lauderdale.

Combined, the leases total 20,198 square feet.

Deanna Lobinsky and Chase Kulp of Cushman & Wakefield represented Somerset Properties, a full-service real estate company that operates in the eastern United States which owns and manages the building, in the lease negotiations.

“The leasing activity we have experienced during the pandemic reaffirms our commitment to market-leading properties like Bayview in top tier markets throughout Florida,” said Jennifer Wierman, a Principal at Somerset Properties. “It also reinforces our core philosophy of treating our tenants like partners and striving to make each lease a ‘win-win’ result for all parties involved.”   

A global manufacturing company signed a long-term 15,913-square-foot lease and Oakmont Public Adjusting, a loss consulting and public adjusting firm, signed a 4,285-square-foot lease.

“These transactions were negotiated amid COVID-19, which shows the significance of having top-tier amenities in desirable locations,” Lobinsky said. “These factors will remain a driver for tenants as the end of the pandemic nears and tenants begin to focus on where and how their employees will work.”

Located at 6451 N. Federal Highway in Ft. Lauderdale, BayView Corporate Tower totals 412,250 square feet. The property features a state-of-the-art tenant amenity center with a conference facility, fitness center and modern café and lounge, as well as covered parking, on-site security and on-site management.

Recent improvements include renovated lobby, common areas exterior and landscaping. BayView is accessible to the entire region by way of Interstate 95, Florida’s Turnpike, Interstate 595 and is minutes from Fort Lauderdale/Hollywood International Airport.

In addition to being real estate investors, Somerset Properties provides a full complement of services for owned and managed properties including leasing, property management, construction management, asset management and financial analysis. Since the firm’s inception in 1996, it has acquired and repositioned over 100 properties with a gross asset value upon stabilization of roughly $1 billion.

The South Florida Office Agency Leasing team also includes Travis Herring, Katherine Ridgway and Jessica Gomez. The team completed some of Broward County’s largest deals in 2020 with 36 transactions totaling 259,765 square feet of leases.

Mortgage Lender To Occupy 50,000 Square Feet For 2nd HQ

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NewDay USA, one of the nation’s leading veteran mortgage lenders, announced on Tuesday that it will create 600 new jobs at 360 Rosemary in West Palm Beach over the next two years.

This new location will serve as the second headquarters for NewDay USA, in addition to its headquarters in Fulton, Maryland.

NewDay USA will occupy more than 50,000 square feet on the top two floors of 360 Rosemary, the 300,000-square-foot, sustainable, Class-A office building at the heart of downtown West Palm Beach’s Rosemary Square neighborhood.

“NewDay USA’s commitment to growth and job creation will bolster our vision of creating a community of opportunity for all,” said West Palm Beach Mayor Keith James on Tuesday. “We are proud to be New Day’s newest home and a place where everyone—especially our cherished veterans—can realize their dreams. We look forward to NewDay USA’s valuable work and positive economic impact on our community.”

 

“NewDay USA proudly helps veterans and their families achieve greater financial security, and we are excited to establish a new home in West Palm Beach to carry out our mission,” said Rob Posner, the CEO of NewDay USA. “South Florida hosts a growing and educated workforce and the state represents the third-largest veteran population in the U.S., making West Palm Beach the ideal choice for our company’s second headquarters.”

 

“The Business Development Board believes that NewDay USA will be a transformational relocation for the City of West Palm Beach. This company takes great pride in creating high-quality jobs for our residents and being a big part of the community. We are proud to welcome them as our newest corporate citizen,” said Kelly Smallridge, the president and CEO of Business Development Board of Palm Beach County (BDB).

The Business Development Board assisted NewDay USA with access to the City of West Palm Beach’s financial resources, as well as expedited permitting and information on community engagement.

NewDay expects to be one of the largest employers in the area, housing 600 employees over the next two years at Rosemary Square. The West Palm Beach Community Redevelopment Agency has approved $1.8 million for the training of new hires at NewDay University. The average salary of a NewDay employee is more than $90,000 and the average age is between 25 and 30.

“The team at Related built a beautiful, state-of-the-art facility that will give our team members a phenomenal environment to work and live. Our team is extremely excited to join this community,” Posner said.

NewDay USA will take occupancy of the new office in the fall.

 

Source:  Florida Daily