Tag Archive for: transwestern

Mixed-Use Business Park In Boca Raton Trades For $18 Million

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Transwestern Real Estate Services (TRS) announces its Southeast Investment Sales team has brokered the sale of a 143,530-square-foot, two-building office property at 5600 Broken Sound Blvd. NW in Boca Raton.

Transwestern Senior Managing Directors John Bell and Kevin Markwordt arranged the disposition on behalf of the undisclosed seller.

“The highly configurable asset provides multiple occupancy scenarios, from a plug-and-play single tenant to a corporate headquarters to multi-user options,” said Bell.

The 12.24-acre property encompasses a one-story, 51,381-square-foot building and a three-story, 92,149-square-foot building connected by a corridor, with surface parking for convenient, direct access. The business hub, previously occupied by Canon, features a cafeteria, conference rooms, collaborative work areas, and an open-air courtyard.

Situated in the center of Boca Raton’s corporate and innovation district, the property offers high visibility from Broken Sound Boulevard with walkability to top shopping, dining and residential amenities plus access to Broken Sound Club, a championship golf course across the street. The office park provides free shuttle service to and from the TriRail commuter train, connecting riders to a swath of destinations across South Florida.

“Boca Raton is a growing base for innovation, research and technology, attracting corporate and large office tenants,” said Markwordt. “The property’s value-add potential coupled with the market’s lack of large blocks of office space made it a desirable investment for the buyer.”

 

Bert Checa Joins Transwestern

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Transwestern announced that Bert Checa has been appointed to the firm’s South Florida office as Vice President, focusing on office agency leasing and tenant advisory across the Southeast region.

Checa will join the team of Managing Director Glenn Gregory, where he will be responsible for evaluating, developing, and executing real estate strategies for owners, investors, and occupiers of office space.

Checa utilized long-standing relationships and experience in the market to quickly secure the leasing assignment for 1000 Park Centre, a 132,878-square-foot single-story building with a blend of flex, warehouse, and office ideally situated at the crossroads of Florida’s Turnpike and Florida State Road 826 in Miami Gardens.

The North Central Dade submarket, in which the asset is located, accounted for 26 percent of leasing activity in Miami-Dade County in the second quarter of 2017, and with no new construction, current total vacancy rates of 2.2 percent are expected to decrease further.

“It was a top priority to recruit the best industry talent to meet the complex real estate needs of our clients,” said Gregory. “Bert has vast experience in a variety of real estate services and has proven to be an immediate asset to our growing footprint in the market.”

Checa brings more than 13 years of experience to Transwestern. Most recently, he served as Senior Associate at Coldwell Banker Commercial Advisors. Previously, he was a Senior Associate at the Pointe Group and Holly Real Estate. During his career, he has overseen the leasing of premium assets including Santona Corner, a 77,000-square-foot, Class A office building; Miami Green, a 110,000-square-foot, Class A office tower; 1805 Ponce De Leon Blvd., a 66,000-square-foot, mixed-use commercial and residential Class A development; and 4770 Biscayne Blvd., a 143,000-square-foot office building.

Transwestern is intentional in recruiting top-performing talent to meet the increasing demand for full-service real estate advisory across all sectors and product types. In that vein, the firm recently hired Brent Barnes as Senior Vice President to spearhead the firm’s Healthcare Advisory Services in Florida.

 

110 Tower Begins Demolition, Redevelopment

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Demolition of the seventh and eight floors at 110 Tower in downtown Fort Lauderdale has begun.

The last phase of a $15 million renovation includes redevelopment of the floors to make way for 40,000 square feet of office space with a two-story mezzanine design concept. The seventh floor provides direct access to the outdoor wrap-around terrace, the only one of its kind in downtown, and an elevator to the parking garage.

The overall renovation has included upgrades to the lobby; new ground-floor retail; upgraded upper-floor common areas and other interior spaces; replacement and improvement of all primary mechanical systems; and a new exterior lighting system.

Property management and office leasing services are provided at 110 Tower by the Transwestern leasing team of Jennifer Marcus, Eric Groffman, and Josh Gibbons.

110 Tower recently signed three new-to-market tenants: Cole, Scott & Kissane, Freeland Harwin and EVault. Other tenants in the building include GenCap Partners, the owner’s representative, 110 Fitness and Sabadell United Bank.

The building, built in 1988, is located in downtown Fort Lauderdale, directly across from the Broward County Courthouse.

REPORT: Tech Responsible For Broward’s Favorable First Quarter Performance

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While Broward County has experienced some positive momentum, ultimately, the success of Broward County’s office real estate market will depend upon sustained employment growth and job creation, according to Transwestern’s Broward County Office Market Report 1Q2013.

Local government agencies are ramping up incentive programs to include job growth cash incentives and capital investment tax credits that are intended to attract new-to-market employers despite the ongoing uncertainty that surrounds Washington.

The good news is that as market fundamentals continue to improve in 2013 and demand for office space advances, Transwestern expects the investor pool interested in Broward to grow as well and the investment market to become more competitive than in years past.

CLICK HERE TO DOWNLOAD THE FULL REPORT

Walter Robinson Launches Firm

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Walter K. Robinson formed his own shop, Robinson Commercial Real Estate.

Robinson brings more than 19 years of experience in commercial real estate brokerage and development. Click here for Walter’s updated contact information.

It’s rumored that another industry veteran will follow in Robinson’s footsteps.  Stay tuned to SFOBA.com for updates!

September 7th Designated “110 Tower Day”

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110 Tower, the 30-story, 391,473 square-foot ‘class-A’ office building located in Downtown Fort Lauderdale’s Central Business District, is pleased to announce that Mayor Jack Seiler and the City Commission of Fort Lauderdale have designated September 7, 2011 as “110 Tower Day” in the City of Fort Lauderdale.

The Proclamation, presented by Commissioner Romney Rogers during the City Commission meeting on September 7, was issued in recognition of 110 Tower earning the prestigious LEED Gold certification from the U.S. Green Building Council (USGBC), and comes merely two weeks after 110 Tower also won the GalaVerde award in the LEED for Existing Buildings category presented by USGBC’s South Florida Chapter.

110 Tower is currently the only option for tenants seeking a LEED Gold certified building within a multi-tenant high-rise office tower in Downtown Fort Lauderdale. Less than 300 buildings worldwide have received 110 Tower’s high-level distinction. In addition, 110 Tower achieved an ENERGY STAR® rating from the Environmental Protection Agency (EPA), the only building in the Central Business District to earn this recognition.

David Castilla, president, GenCap Partners, representing the owner of 110 Tower, accepted the proclamation on the team’s behalf, thanking the City of Fort Lauderdale for their unwavering support and reinforcing the team’s commitment to strong sustainability policies in order to afford tenants and surrounding neighbors the long-term benefits their investment provides.

110 Tower is in the midst of a comprehensive $15 million renovation program that includes upgrades to the ground floor lobby, new interior and exterior retail spaces, upgraded upper-floor common areas, restroom and other interior spaces, replacement and improvement of all building primary mechanical systems, and a unique exterior lighting system. Since coming on board as the building’s property management and commercial leasing team in 2009, Transwestern has leased more than 200,000 square feet of office space of which 90,000 are new tenants. 110 Tower’s onsite property management team utilized the expertise of Transwestern Sustainability Services, a LEED consulting firm based in Milwaukee, to achieve their goals for 110 Tower. The team included AECOM, City Construction, Coastal Building Maintenance, ECO and DebonAir Mechanical.

In order to achieve the heightened standards of LEED Gold from USGBC, GenCap Partners and Transwestern incorporated a number of enhanced eco-friendly strategies, resulting in an even greater environmental impact. These features included:

  • Energy Efficiency:  The Tower’s Energy Star score was 86, placing it in the top 14% of similar buildings nationwide. The building emits 33% less greenhouse gas emissions than an average building, and is saving more than $198,000 on utility bills annually.
  • Sustainable Site: A highly reflective roof surface and an 8,798 square-foot vegetated roof area reduces the urban heat island effect, and minimizes the impacts of microclimates on humans and wildlife.
  • Water System Efficiency:  The implementation of a water efficiency program, including plumbing fixture retrofits, accomplished a 35% reduction of water use in all fixtures.
  • Green Cleaning:  The Tower utilizes products and equipment that are toxin-free to preserve air quality in the building.
  • Recycling: Implementation of a waste stream audit and occupant education programs to increase the amount of recycling and waste diversion in the building.
  • Purchasing:  The Tower uses a green office supply purchasing program to minimize the environmental impacts related to energy use, resource depletion, and waste.