Tag Archive for: slider

Spencer Grossman Named NAI/Merin Hunter Codman’s Broker of the Year

/in /by

NAI/Merin Hunter Codman, Inc., announced that Spencer Grossman, Senior Commercial Associate at NAI/Merin Hunter Codman, has been named the firm’s Broker of the Year.

Grossman closed a plethora of noteworthy commercial property transactions in Palm Beach County, helping to continue the firm’s stretch as the county’s top ranked commercial property brokerage firm. Grossman’s high production included several alternative uses for distressed assets, providing renewed optimism that imaginative solutions will help clear the backlog of properties on the market.

Grossman continues the strong precedent set by his father, Jay M. Grossman, who helped found NAI/Merin Hunter Codman with Neil E. Merin more than 20 years ago and grew it into one of the most respected commercial property brokerage firms in the state.

“Spencer Grossman came up with creative solutions that allowed him to close numerous challenging deals over the past year,” said Jordan C. Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Spencer’s ability to understand both market dynamics and the key financial drivers that create value enabled him to come up with unique ideas that maximized value for our clients.”

In one of the innovative transactions orchestrated by Grossman, he arranged the sale of a large, 50,000 square-foot furniture showroom to a charter school. Mavericks High, a statewide charter school consortium headed by Francis Biden, the brother of the United States Vice President, took over the property once occupied by Carl’s Furniture at 1889 Palm Beach Lakes Boulevard in West Palm Beach. Grossman also arranged the sale of The Habitat Center, a 62,000 square-foot retail/office center at 4047 Okeechobee Boulevard in West Palm Beach to an affiliate of the Schumacher Auto Group. Furthermore, he arranged the sale of an office building whose anchor tenant became a diagnostic imaging center, in yet another innovative transaction. Grossman was also instrumental in relocating the iconic Palm Beach restaurant Hamburger Heaven to a new location on the waterfront in West Palm Beach.

Spencer Grossman, who joined NAI/Merin Hunter Codman in 2010, is optimistic about the future of commercial real estate in South Florida. “The risk appetite of commercial property investors and users is returning,” said Grossman. “The opportunistic ‘first movers’ that often lead market recoveries are recognizing the value to be gained with South Florida real estate. The economy improving, together with a lack of developable land, has led to momentum in the residential property sector. Retail is close on its heels with an office recovery expected to follow suit.”

Grossman noted that the attractive pricing of distressed assets — often acquired in default by financial institutions — has allowed new owners/tenants the wherewithal to bear lower occupancies than usual while waiting on a further market recovery. He expects to announce a large retail property sale in Palm Beach County this quarter with more to follow in adjacent counties.

Economic Engine Performance Report

/in , /by

The Port Everglades Association will be hosting the Economic Engine Performance Report on Friday, April 5th.

The program will feature Broward County Mayor Kristin Jacobs, Port Everglades Director Steve Cernak, Aviation Director Kent George and Convention & Visitors Bureau CEO Nicki Grossman.

See below for additional details:

Economic Engine Performance Report

 

Stigliano Closes 36-Unit Multi-Family Project

/in /by

Reese Stigliano, Senior Vice President of Brenner Real Estate Group, represented the seller in the sale of a 36-unit residential apartment complex located in Hollywood.

The Seller was Akron Corporation, a Miami Beach-based company.  The Buyer was Trust Real Estate Ventures LLC, a Hallandale Beach real estate investment company. The $1.125 million sale closed on February 28, 2013.

This is the second time Reese sold the property. In 2010 Reese represented JP Morgan Chase in the sale of the property to Akron Corporation. According to Charles Goodman, president of Akron Corporation, “When I bought the property from Chase, I was extremely impressed with Reese. Even though he represented the Seller, I had complete trust in him. He treated me honestly and was a consummate professional all the way through the transaction. When I purchased the property, there was no due diligence material. Reese was extremely helpful, answering questions and tracking down missing documents needed for the closing.”

According to Goodman, “When it came time to sell the property, Reese was the first person I called. I admired his knowledge, his tenaciousness and I knew he would do a good job for me.

“The property, built in the 50’s, was not an easy property to sell. The 36 units are spread out as 18 duplexes on 2 acres of land.”  said Reese. “Fortunately, I was able to use all the work I did on the first transaction, to make the second sale close without a hitch.”

Robert Listokin Named Top Broker

/in /by

Robert Listokin, SIOR, Executive Vice President, was named the top broker at Colliers International South Florida for 2012.

Listokin was also the top broker in 2011, and has been in the top five since he has been with Colliers. Listokin completed 44 commercial real estate transactions valued at $35.5 million in 2012. His leasing and sale activity is an effective measure of South Florida’s business climate, and reflects the diversity of new companies coming into the area and those expanding in the region.

One of several noteworthy deals Listokin consummated in 2012 was the sale of a 75,000-square-foot former AEQUICAP building on behalf of the Florida Department of Financial Services. The former Cleveland Clinic facility at 3000 West Cypress Creek Road in Fort Lauderdale was vacant after having been renovated to accommodate an insurance company that purchased the property. Listokin and his associate Sal Bonsignore represented the seller, the State of Florida, and their colleagues at Colliers, John Crotty and Michael Fay, brought in the buyer, OneBlood, Inc. A consolidation of blood banks and blood services groups from around Florida, OneBlood will occupy the entire building, which it purchased for $9.8 million.

Listokin’s tenacity and dedication to a client’s changing needs can translate into years of work before a deal is finalized. In 2012, Listokin and his associate Peyton Moore negotiated a 10,000-square-foot lease on behalf of JVB Financial Group, LLC, after more than two years of searching out office facilities to buy or lease, as a result of shifts in the client’s real estate requirements. JVB Financial, a municipal bond sales and trading company with offices in Boca Raton and New York, will move into new offices at Lynn Financial Center in Boca Raton this spring.

Just recently, Listokin was a finalist in the office leasing category for the 2013 NAIOP Awards of Excellence. He has been named a Power Broker for Office, Industrial and Retail leasing in Broward County for 2012. Listokin’s client list is broad, ranging from Hair Club for Men, LTD to megafirms including Travelers Indemnity Co., First Service, Sears, and the U.S. Government.

Robert Listokin has worked consistently in the South Florida commercial real estate market since 1986. In his 25+ year career, he has leased or sold millions of square feet of commercial property with an aggregate value well in excess of $1 billion. Over the years, Robert has represented such companies as Humana, Prudential, Nortel, H & R Block, American Media, Inc. and the State of Florida, among others.

Robert reunited with Colliers International in July 2000, 15 years after his affiliation with its sister firm in Philadelphia, Colliers L & A. Robert served as Senior Vice President and partner in the Newman Group, and in 1990 he established Equivest Properties, Inc. He was responsible for all of the company’s growth and development, including the procurement of agency assignments for office, industrial, retail, and investment property, tenant representation and training of additional salespeople. In July 2000 he merged Equivest Properties with Colliers International.

Duckworth Wins “Office Sale Of The Year” Award

/in /by

Ultimate Software HeadquartersThe South Florida office of Avison Young is pleased to announce that David Duckworth took home the Office Sale of the Year Award for 2012 at the annual NAIOP Awards of Excellence.

David was the listing broker for the 62,000-square-foot Ultimate Software Headquarters facility located in Weston, which traded for $16.1 million.

The event was held on February 21st at the IGFA Fishing Hall of Fame & Museum in Dania Beach.

Talbot, Ackerman Awarded 126,000 SF Leasing Assignment

/in /by

ComReal Ft. Lauderdale announced that it has recently been tapped to lease 126,438 square feet in Plantation. Tim Talbott and Andrew Ackerman will head up the marketing efforts.

The medical/professional buildings – Bank of America Plaza, located at 1776 N Pine Island Road and 300 South Pine Island, located at 300 South Pine Island Road – were purchased late last year by Transatlantic Pine Island, LLC for $17.5 million.

The buildings total 46,496 square feet and 79,942 square feet respectively.

Ken Morris of Morris Southeast Group was listed as a Managing General Partner of both limited partnerships selling the assets.

The buyer, Transatlantic Pine Island Property LLC, owns multiple assets in South Florida with similar qualities to the Pine Island investment including a focus on smaller tenants, strong performance records and a quality location.