Tag Archive for: slider

Avison Young Loses One, Gains One

/in /by

In the latest round of industry musical chairs, Avison Young’s South Florida office is even in recent arrivals and departures at the commercial real estate services firm.

David Bateman, who served as Director of Leasing for Avison Young since April 2012, parted ways last month. Although unnamed sources have reported that Bateman has relocated to Jacksonville, Bateman’s LinkedIn profile states his location as Austin, Texas.

Prior to his stint with Avison Young, Bateman represented Miramar Park of Commerce for Sunbeam Properties.

With Bateman’s departure, however, comes a new arrival for Avison.

After four years with Colliers International South Florida, Peyton Moore has joined Avison Young as Senior Associate, where he will represent owners of class A office properties in South Florida.  Moore will partner with Greg Martin, Principal.

NAI Rauch Weaver Norfleet Kurtz Adds Medical Specialist

/in /by

NAI Rauch Weaver Norfleet Kurtz & Co. is pleased to announce the addition of Brian Fleming as a Senior Associate.

Brian is specializing in healthcare real estate representation and medical space solutions for institutions, hospitals and physician practice groups throughout South Florida.

Owners and users of medical space engage Brian Fleming’s services because he understands both the business of medical care delivery and commercial real estate. They know that his resources, judgment and experience will contribute to their success in the constantly changing environment of healthcare delivery.

Mr. Fleming began his career in the pharmaceutical industry in 1979 quickly rising to a top producing cardiovascular representative for Marion Laboratories based in Kansas City, MO. It was during his tenure with Marion Laboratories that Mr. Fleming’s interest in commercial real estate began.

Brian represents medical space owners in the sale, lease, sublease and management of building space. Tenants rely on him for help in identifying building locations and lease negotiations in medical complexes, office buildings and retail space.

Mr. Fleming’s clients know that in every transaction he takes personal responsibility for the service they receive and for their overall satisfaction with every transaction. He believes strongly that service is nothing more than getting the best results for his clients all the time, each time, and that continuous client communication is a key driver of a satisfying experience. Brian is ready to have his background and track record work for you!

If you have any questions, please contact Brian at 954-489-4717.

Brenner’s Carla Casey Earns RPA® Designation

/in /by

Carla F. Casey, Regional Manager, Property Management, has earned the Real Property Administrator® designation from BOMI International, an independent educational institute serving the property and facility industries.

Ms. Casey joined Brenner Real Estate Group in 1998. She is located in Brenner’s Melbourne office and oversees Brenner’s South Florida and Space Coast property management portfolios, including administration and management of properties, construction management, budget preparation, leasing and land sales. Ms. Casey has handled the property management and construction management for many receivership accounts including Ocean Dunes in Melbourne Beach, FL, America’s Best Value Inn in Vero Beach, FL, and the Fort Pierce Inlet Marina.

Ms. Casey has a Bachelor of Arts in Communications from Bowling Green State University, and has a professional background including residential property management, community association management and other commercial property management.

CBRE Tapped To Lease, Manage West Palm Beach Office Tower

/in /by

CBRE was selected to lease and manage One Clearlake Centre, a 236,500-square-foot, 18-floor Class A office tower and home to KRES Commercial, located at 250 South Australian Avenue in West Palm Beach.

CBRE will market the property on behalf of AEW Capital Management (AEW), and will provide leasing, property management, project management and technical services.

The most visible downtown building from I-95, One Clearlake is a LEED Silver-certified property offering exceptional views of West Palm Beach and water views from each floor. The property’s location and size make it an attractive asset in a market that is generating interest from both local and national tenants.

“There’s a lot of market momentum right now and Palm Beach County’s aggressive and largely successful efforts to lure firms from California and New York City have ratcheted up that competition even more,” said Ken Krasnow, CBRE South Florida’s Managing Director. “One Clearlake has headquarters appeal because it’s highly visible from I-95, it offers the largest block of vertically contiguous space in the county and it is close to the central business district and all of its amenities.”

CBRE’s Investor Services Group, led by Senior Managing Director Patricia Nooney, will provide executive oversight to the leasing, property management and capital improvements. “We are thrilled to have the opportunity to work with AEW, one of the world’s leading real estate investment advisors,” said Ms. Nooney. “We’re confident that the disciplines and resources CBRE brings to this major assignment in downtown West Palm Beach will enable us to deliver exceptional service and ensure the property is maintained at levels consistent with an institutional-quality product.”

CBRE Vice President Anthony Librizzi will provide leasing services for the property with Associate Josh Nolan. The CBRE Asset Services team at the property will be led by South Florida Director Lisa Jesmer. Project Management will be led by Managing Director Greg Main-Baillie, and Technical Services by Director David Day. Michelle Horn is the Senior Real Estate Manager and Wayne Stracke is the Chief Engineer.

Boca’s Plum Park Trades

/in , /by

Avison Young’s South Florida office announced the sale of Plum Park, a 61,759 square foot class B business complex located at 141 NW 20th Street in Boca Raton, for $6 million.

Vice President of Investment Sales David Duckworth, Principal Keith O’Donnell and Associate Jonathan Senn of Avison Young were responsible for executing the lease-up and represented ownership CW Capital during the sale. “This project was a true collaborative effort between the leasing team and the investment sales team within our company,” said Mr. Duckworth. “It once again highlights Avison Young’s ability to stabilize an asset and then maximize the sale price by executing a well thought out plan with our client.”

The Plum Park transaction shows the aggressiveness of commercial property investors and the intensifying competition for B market properties in the Boca Raton area. In response to the uptick in demand of current and new buyers, Avison Young’s keen understanding of area trends and strategic marketing approach to investment sales while working with clients during the diversification process allows properties to properly compete in the market as high quality assets.

“When we were initially awarded the responsibility of leasing, repositioning and the ultimate sale of Plum Park, the asset had high vacancy with existing tenants in default,” said Mr. Duckworth. “Our team was uniquely qualified to replace delinquent tenants with high caliber businesses in stronger financial conditions, thereby adding value to the property.”

Plum Park is comprised of five singe-story office/retail buildings with flexible space plans from 761 square feet up to 7,521 square feet. The well-maintained grounds feature lush tropical landscaping, signage and ample parking. Located just west of Dixie Highway and minutes away from the I-95, the property allows tenants convenient access to major thoroughfares and local amenities.

Reese Stigliano Appointed Exclusive Agent For Multifamily Project

/in /by

Reese Stigliano, Senior Vice President of Brenner Real Estate Group, has been selected as the exclusive agent for the sale of Villas de Mallorca, a 252-unit multifamily apartment project located in Miramar, Florida.

Stigliano will be joint marketing the property with the Tax Credit Group of Marcus & Millichap, a national real estate brokerage company.

The property, built in 2002, is a Section 42 Low Income Housing Tax Credit (LIHTC) project. The LIHTC program is an indirect Federal subsidy used to finance the development of affordable rental housing for low-income households. The property consists of 252, two and three bedroom apartments in sixteen (16) three story “Garden Style” buildings situated on 14 acres of land. Current occupancy is 100%.

When asked about the joint marketing arrangement with Marcus & Millichap, Stigliano said, “The tax credit affordable housing market is a highly specialized type of real estate investment. There are federal and state compliance issues regarding tenant income restrictions and rental rates caps that are unique to this type of development.  The buyer of tax-credit, affordable housing projects are highly sophisticated and tend to focus specifically on this type of product.  While I bring 30 years experience in South Florida real estate to the table, the Tax Credit Group of Marcus & Millichap, which is located in Seattle, Washington, have their finger on the pulse of the limited scope buyer of these LIHTC projects.”

Reese went on to say,”This is a very unique arrangement for me. It is the first time I co-listed a property with a national brokerage company. By nature, real estate is local. Extensive market knowledge and personal relationships is how I’ve been able to succeed in this business for three decades. I’ve known the owner of this property for over 15 years.  And although, I felt comfortable marketing the property, I thought it was in the best interest of my client to expose the property to the broadest range of buyers possible in order to achieve the highest sale price.”

According to Elliot Stone, president of The Royal Castle Companies, the developer and owner of the property, “I end up with the best of both worlds, a loyal and trusted advisor who has extensive knowledge of the local market with Reese Stigliano and the exposure I need for this specific project from a national broker. “  “Now all they have to do is sell it!” said Mr. Stone.

The asking price is $25 million.