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Taylor & Mathis Reports Strong Activity At Sawgrass Corporate Park

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Taylor & Mathis has inked 30,000 square feet of renewals and expansions as well as a 5,100-square-foot new deal at Sawgrass Corporate Park in Sunrise.

Donna Korn and Jennifer Gemma of Taylor & Mathis negotiated the leases on behalf of the buildings’ owner, The Brookdale Group.

Regus Business Centers, the world’s largest provider of flexible workplaces, signed a 24,500 square foot renewal at the park’s International Place I office building. Co-brokers Keith Edelman & Scott Goldstein of Jones Lang LaSalle represented Regus.

American Recovery Service Incorporated (ARSI), a commercial collection agency, nearly doubled their office space signing a renewal and expansion of 5,500 square feet at the park’s Corporate Center I office building. Co-brokers Carlo Brignardello and Alex Brown of Cresa Partners represented the tenant.

ETI Financial Corp, one of the country’s leading providers of insurance premium financing, signed a new lease for 5,100 square foot lease at Corporate Center I with co-broker Peyton Moore of Avison Young representing the tenant.

“Renewals are the best testament to the quality of an office building as well as its ownership and management,” stated Korn.  “Tenants today have boundless office space choices. We’re especially pleased Regus and ARSI decided to remain at Sawgrass Corporate Park and to welcome ETI Financial Corp.”

Taylor & Mathis, the exclusive leasing agent for the properties, leases and manages a 436,853 square foot office portfolio at the park comprised of Corporate Centre I, II & III, International Place I and Sawgrass Plaza.

 

Berger Commercial Realty Joins TCN Worldwide

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Berger Commercial Realty announced it has joined TCN Worldwide, a network of independent commercial real estate firms providing global integrated real estate solutions.

“Partnering with TCN is a natural extension of our growing regional presence,” said Lloyd Berger, founder and president of Berger Commercial Realty. “We are confident this strategic alliance will result in continued growth and will help us establish new relationships nationally and internationally through TCN’s network of affiliates and professionals.”

Formed in 1989, TCN Worldwide is comprised of more than 800 commercial real estate professionals serving more than 200 primary and secondary markets worldwide. With approximately $38.8 billion in annual transactions and more than 80 million square feet of space under management, the TCN network ranks as one of the largest service providers in the industry.

keith graves“TCN allows us to affiliate with an industry leading network while maintaining our core values, identity and independence,” said Keith Graves of Berger Commercial Realty.

Founded in 1998, Berger Commercial Realty is an independent, privately-owned firm offering a full range of services, including brokerage, tenant/landlord and buyer/seller representation; property management, project management and construction management; agency/project leasing; capital advisory/investment sales; retail services and more.

The firm’s three offices, located in Palm Beach County, Broward County and near Miami-Dade County, will serve TCN members seeking commercial real estate solutions in South Florida.

“We are pleased to welcome Berger Commercial Realty as the newest member of our organization,” said H. Ross Ford, president and CEO of TCN Worldwide. “We are confident the firm will bring great value to TCN members seeking brokerage services and management of retail, industrial, multifamily and office properties in the South Florida area, and we look forward to a long, successful partnership with the Berger Commercial Realty team.”

 

JLL Tapped To Lease 200,000 SF Cypress Financial Center

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Steelbridge Capital has selected JLL  to exclusively lease and market their newly acquired asset, Cypress Financial Center, a 198,528-square-foot office building located in Fort Lauderdale.

JLL’s Sandra Andersen, Senior Vice President, and Associate, Chase Kulp, will lead an aggressive leasing effort at the uniquely positioned office building located at 5900 N Andrews Ave.  With excellent highway signage visibility from Interstate 95, Cypress Financial Center is the only building in South Florida with direct ramp access to the highway.

Steelbridge Capital, a privately held, real estate investment company based in Miami and Chicago, acquired the office building in mid-September with the sole objective of re-establishing Cypress Financial Center as the premier office building in the Cypress Creek corridor.

The ownership has outlined a rapid capital improvement program that will focus on significantly upgrading the lobby and common areas, modernizing the elevators and other mechanical enhancements, as well as a complete renovation of the exterior and landscaping features, all designed to return it to its status as one of the pre-eminent office buildings in Broward County.

“We’ve established a great relationship with Steelbridge Capital over the years, and firmly believe we can duplicate the prior leasing success JLL had with this asset,” said JLL Senior Vice President Sandra Andersen. “Our leasing strategy will focus on reintroducing the asset to the market by emphasizing the new ownership and the significant capital investment they are making to restore the building as the marquee property in Cypress Creek and the ideal alternative to Downtown Fort Lauderdale.”

Major tenants at the office tower include global insurance provider MetLife, BDO, TD Bank and commercial real estate brokerage firm Marcus & Millichap.

Robert Listokin Tapped To Lease Coral Springs Office Towers

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Robert Listokin, Executive Vice President, has been chosen as the exclusive leasing broker for Towers of Coral Springs I & II, located at 2825 & 2855 N. University Drive, in Coral Springs.

The property totals 75,726 square feet with 27,371 square feet available for lease.

“The buildings are located in the heart of Coral Springs, situated on a major artery in front of the prominent shops of ‘The Walk’ of Coral Springs,” says Listokin. “We know this space will lease up quickly, as it is rare in this market to find a full floor available with naming rights to the building in a space as small as 7,000 square feet.”

The available space would be attractive to corporate users, as well as the recently reduced rate of $19.95 per square foot. Turnkey medical spaces are also available. Amenities include reserved/covered parking and University Drive frontage. Current tenants at the building include Morgan Stanley, 1st United Bank, and multiple prominent doctors and attorneys.

An award-winning leading broker, Listokin has worked in South Florida commercial real estate for more than 25 years, leasing or selling millions of square feet of commercial property totaling well over $1 billion. He is a member and past president of the Executives of Broward, the Fort Lauderdale Alliance, BRAVO (Business Retention and Visitation Outreach Member) and the Broward County Development Board. He is also an active volunteer at Insight for the Blind.

 

 

Avison Young Acquires Colliers International South Florida

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Gotta love those rumors!

Mark E. Rose, Chair and CEO of Avison Young, announced today that it has entered into a definitive agreement to acquire Miami, Florida-based commercial real estate brokerage and property management firm Abood Wood-Fay Real Estate Group, LLC (doing business as Colliers International South Florida).

Subject to the satisfaction of customary closing conditions, the transaction is expected to close within 30 days.

The purchase will further expand Avison Young’s business-line coverage in South Florida and throughout the state. The change in ownership is expected to add 70 employees from Abood Wood-Fay Real Estate Group’s Miami, Fort Lauderdale and Palm Beach offices to Avison Young’s operations in South Florida. Terms of the acquisition were not disclosed.

Upon closing of the transaction, Michael Fay and Donna Abood will become Principals of Avison Young and Managing Directors of Avison Young’s Miami office. They will focus on overseeing the growth and development of Avison Young’s presence in the Miami region, servicing new and existing clients, and managing the day-to-day operations of the office. They are both 30-year commercial real estate veterans and Chairs and founding partners of Abood Wood-Fay Real Estate Group. John Crotty, Executive Vice-President of Abood Wood-Fay Real Estate Group, will also serve as a Principal of Avison Young.

As a result of the acquisition, Avison Young will assume a significant leasing and investment sales portfolio, bringing Avison Young’s total square feet of leasing and investment sales property under representation to 20 million square feet (msf) throughout Florida. In addition, Avison Young will assume Abood Wood-Fay Real Estate Group’s property management portfolio, bringing Avison Young’s total square feet of properties under management to 11 msf in Florida and more than 70 msf across Canada and the U.S.

“We look forward to welcoming Abood Wood-Fay Real Estate Group to Avison Young,” comments Rose. “This strategic acquisition will give Avison Young an even broader client-service platform in the Florida market as we continue to expand our capabilities throughout the U.S. and overseas.”

Rose continues: “Donna has a reputation as one of the most trusted and highly recognized names in South Florida real estate, and Michael is known as a business development rainmaker on a national level. Their company’s culture of collaboration, excellence and focus on strategy will merge well with Avison Young’s similar culture, and allow us to attract additional high-quality professionals throughout Florida and the U.S. Southeast. This team will be a tremendous addition to our company.”

Abood and Fay simultaneously began their respective firms in 1989. Before becoming Colliers International South Florida, the firm known as Abood Wood-Fay Real Estate Group was formed when two local, well-established firms – Abood & Associates, Inc. and Wood-Fay Realty Group, Inc. – merged. Abood & Associates, Inc. was a full-service real estate firm providing leasing, sales, property management and construction services in South Florida. Wood-Fay Realty Group, Inc. was a highly specialized commercial real estate brokerage firm providing commercial and investment property sales and advisory services for clients. The merger was a logical progression as the principals of the firms realized the synergies possible if the companies combined as one. In 2005, Abood Wood-Fay took the next step in its commitment to servicing clients by joining the Colliers International team and becoming Colliers Abood Wood-Fay. In 2010, the firm participated in a global rebranding and officially became Colliers International South Florida.

“Avison Young has had a focus on building our business throughout Florida for several years, and until now, we hadn’t found the right fit for us in the critically important Miami market,” states Earl Webb, Avison Young’s President, U.S. Operations. “The Abood Wood-Fay Real Estate Group team members, with their extensive base of experience, broad client relationships and excellent market presence, provide us with the perfect platform to add to our burgeoning Florida business. Donna, Michael and John will combine their experience with Pike Rowley and our other Florida principals to give our clients even more experienced resources to help with the complex execution of their real estate requirements and strategy.”

Avison Young opened its first Florida offices in October 2012 in Fort Lauderdale, Boca Raton and Miami with Rowley joining as a Principal and Managing Director. In May 2013, Avison Young acquired WG Compass Realty Cos. and opened a West Palm Beach office. In September 2013, Avison Young acquired Lane Witherspoon & Carswell Commercial Real Estate Advisors and opened a new office in Tampa.

“Avison Young has been seeking to expand in the Miami-Dade market in a big way since opening our first office in Florida 24 months ago,” notes Rowley. “We have been patient in wanting the best-of-class service providers in this region who are home-grown, take a leadership role, and are deeply rooted in the community. We have found just that team with Abood Wood-Fay Real Estate Group.”

He continues: “I have known and transacted business with Donna and Michael for more than 25 years and could not be more excited to team up with them as we grow Avison Young into one of the strongest service providers in the state. With the addition of this team, we will have a total of 170 dedicated professionals statewide and a strong presence in every major city in Florida. As a result, we will be able to better serve clients in the office, industrial, retail and multi-family sectors.”

Over the past five-and-a-half years, Avison Young has grown from 11 to 60 offices and from 300 to more than 1,600 real estate professionals in Canada, the U.S. and Europe.

Today’s announcement comes on the heels of Avison Young opening an office in Cleveland, Ohio on September 23, 2014 and the firm acquiring New Jersey-based asset management firm Kwartler Associates on September 18, 2014.

 

CBRE Closes 16,000 SF At The Plaza

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CBRE has signed Imperial Finance & Trading, LLC, a subsidiary of specialty finance company Imperial Holdings, Inc. (NYSE: IFT),  to an 11,000 square foot lease at MetLife’s newly renovated, 11-story office tower, The Plaza in Boca Raton.

The firm moved into their new office space this month.

Antony Mitchell, CEO of Imperial, commented, “We are thrilled to move to our new Boca Raton location at The Plaza. This new space satisfies our operating needs while meaningfully lowering our annualized rental costs.”

Michael Erickson, Senior Vice President with CBRE handled the real estate transaction on behalf of building owner MetLife. Imperial was represented by co-brokers Ryan Nunes, Scott Allen and Shay Pope of CBRE’s South Florida Occupier Services Group.

Imperial provides customized liquidity solutions to owners of illiquid financial assets.

Other recent leases included Weingarten Realty Investors (NYSE: WRI) 5,000 square foot lease for the company’s South Florida regional office.