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AY’s Martin & Moore Awarded Pinnacle Corporate Park Leasing Assignment

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Avison Young has been awarded the exclusive leasing assignment for Pinnacle Corporate Park, a 260,000 square foot two-building office campus located at 500 and 550 West Cypress Creek Road in Fort Lauderdale.

Currently 84 percent occupied, the Park is one of the most highly sought after office locations in the Cypress Creek submarket, and brings Avison Young’s total square footage of Florida leasing assignments retained over the past 12 months to more than 425,000 square feet.

Principal Greg Martin and Senior Associate Peyton Moore with Avison Young’s Fort Lauderdale office will oversee the leasing activities for Pinnacle Corporate Park on behalf of the new ownership investment group led by Miami-based Banyan Street Capital and New York-based DRA Advisors.

The acquisition, which took place in November, is the second notable office building sale to close in the area recently, representing an uptick in investor activity within the steadily recovering Cypress Creek submarket.

“The exclusive leasing assignment of Pinnacle Corporate Park is a direct result of our effective approach to marketing the unique attributes of properties to retain and attract tenants,” said Martin. “Working with ownership, we plan to maintain the current success of the Park by identifying potential tenants positioned for the long-term.”

“With Broward County’s increase in employment, declining vacancy rates, and office building construction at a stand-still due to the lack of available land, the search for quality office space is prevalent among growing companies,” added Martin. “Pinnacle Corporate Park’s premier location and value in the market will allow us to secure gold-standard tenants within the buildings.”

 

 

CRE Firm Expanding In Dade, Broward And Palm Beach

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CRE Rauch, Lupo, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Dade, Broward and Palm Beach counties.

Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward.

Commission and benefits commensurate with experience. Florida Real Estate License and Commercial Real Estate experience a must! Only qualified candidates should apply.

Send resume to mail@crefloridapartners.com.

 

Tom Burst Joins Colliers South Florida’s West Palm Beach Office

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Tom Burst has joined Colliers International South Florida as Senior Vice President in the West Palm Beach office.

With over 27 years’ experience in commercial real estate, he has the knowledge and insight to advise office clients on all aspects of commercial real estate from leasing to disposition, to repositioning properties to maximize their potential.

“Tom has been a recognized leader in the West Palm Beach region and we are thrilled to have him join our team,” says Stephen Nostrand, CEO of Colliers International South Florida. “His career-long dedication to being a trusted advisor to his clients mirrors our commitment to building our team with passionate professionals who know how to deliver success. This expansion in the Palm Beach County area will include several other experienced brokers joining our existing team members. We will begin 2014 with a specific goal of creating an expanded presence for Colliers International South Florida in Palm Beach, Martin and St. Lucie counties.”

Prior to joining Colliers, Burst owned Burst Commercial Real Estate Services, Inc., which he founded in 1996 and merged with KRES Commercial in 2012. Previously he had been a broker with GMH Associates, initially joining as director of marketing for the Florida region. Before that he was an associate with CB Commercial Real Estate Group (now CBRE) where he was that firm’s top producer in the West Palm Beach office market, as well as one of the top producers for CB Commercial in South Florida.

“The support and level of professionalism offered by Colliers is amazing,” said Burst. “This firm allows the brokers to concentrate all of our energy toward the client’s success.  Colliers has experts in every aspect of the commercial and corporate real estate market, but what is truly unique is the access we have to each of these experts and the structure to encourage each specialty to work together to meet the goals of our clients. That separates Colliers as the top real estate advisor in the market.”

A graduate of Florida State University, Burst volunteers with the Florida Wildlife Commission as a hunter education instructor, and has been active with the Boy Scouts of America as a teacher of ethics and leadership.

 

Levy Realty Advisors Seeking Property Manager, Leasing Agent

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Levy Realty Advisors is seeking a Property Manager and Leasing Agent for its growing commercial and industrial portfolio to oversee the management and leasing of 500,000 square feet of multi-tenant warehouse and 300,000 square feet of multi-tenant office space in Broward County.

The position offers a unique career opportunity to work closely with the Founder and President of a well-established 37 year old company.

Salary/commission and benefits. Florida Real Estate License and Commercial experience a must! Only qualified candidates need  apply.

Send resume to info@levyrealtyadvisors.com

 

 

Popular Las Olas Property Trades For $5.6M

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Adam P. Von Romer, CCIM and Mario Abati, both of Fitzgerald Group, completed the sale of 904 East Las Olas Boulevard, Fort Lauderdale, for $5,600,000.00 to Tim Petrillo on behalf of an entity to be formed.

The property, sold by Boyle Las Olas, LLC, consists of well-known Mangos  Restaurant & Lounge, an adjacent real estate office, and a separate parking lot directly behind the main building and is subject to a long term lease.

The property also proved to be quite popular as it generated 11 written offers to purchase.

 

Former ADT, Grace Building Fetches $12.7M

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The upscale Boca Raton office building that once served as the corporate headquarters for W.R. Grace & Co. and ADT Corp. sold recently for $12.7 million.

An investment group based in New York and Miami bought the “Class A” property at 1750 Clint Moore Road as part of a tax-deferred deal. The seller was Rodney Longman, a former manufacturing mogul. Glenn E. Gromann, an attorney and president of Center Realty Associates, arranged the transaction.

The building is about 50,000 square feet but can be expanded to 70,000, said Gromann, who is working to redevelop the surrounding land.

The building now is occupied by OpenPeak Inc., a mobile software company.