Tag Archive for: treis

Tiktin Real Estate Brokers $16.5 Million Sale Of Broward Office Building

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Tiktin Real Estate Investment Services (TREIS) announced the sale of an 11-story, 117,668 square-foot multi-tenant office building at 1250 E. Hallandale Beach Blvd. in Hallandale Beach.

The buyer, Soliman Corp., an affiliate of 1250 E. Hallandale LP, acquired the property from Murray Family Associates, an affiliate of KEI Properties, for $16.5 million.

Adam J. Tiktin, president and broker of TREIS, represented both the Buyer and Seller in this transaction.

The closing took place March 31st.

Originally constructed in 1973, the building is 78 percent leased. The city of Hallandale Beach is one of South Florida’s most dynamic and fast growing cities. The building is situated on over 2.5 acres of land and located just two miles from the Aventura Mall and less than a mile away from Gulfstream Park.

 

Two Hallandale Beach Office Buildings Hit The Market

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Tiktin Real Estate Investment Services (TREIS) has announced two office buildings at 1250 and 2100 E. Hallandale Beach Blvd. in Hallandale Beach have hit the market for $36 million.

Adam J. Tiktin and Alejandro Snyder of TREIS are the exclusive sales agents and represent the Seller, KEI Properties. The buildings are located on the south side of East Hallandale Beach Boulevard and offer excellent visibility and signage opportunities. They are available as a portfolio or for individual sale.

Built in 1982 and situated on 2.7 acres, the 1250 E. Hallandale Beach Blvd. building is 11 stories tall and totals 110,447 rentable square feet. The building is currently nearly 87 percent occupied by medical and professional offices and is anchored by a 12,800 square foot gym.

Just two blocks east and constructed in 1968, the 2100 E. Hallandale Beach Blvd. building features four stories and totals a lot size of 85,680 square feet.  The building is 92 percent occupied by mostly medical and professional offices as well. Situated on nearly two acres, 2100 East Hallandale Beach Blvd. allows for several redevelopment opportunities, as the current zoning allows for developers to build up to 350 feet.

The office market in Hallandale Beach is one of the region’s lowest vacancy markets, showing high supply and demand with only seven percent vacancy as of Q4 2018. This area has experienced significant development with two hotels built in the last three years. Additionally, there are nine projects under construction in Hallandale and 11 approved developments in the pipeline.

TREIS Brokers Sale Of Heron Bay Portfolio In Coral Springs

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Tiktin Real Estate Investment Services (TREIS) announced the $42.95 million sale of the Heron Bay Office and Retail Portfolio in Coral Springs.

The portfolio, located directly off the Sawgrass Expressway on Coral Ridge Drive, features Waterway Shoppes, a 40,258 SF retail center; Heron Bay III, a 45,344 SF Class A office building; and Heron Bay IV, a 45,383 SF Class A office building.

The Sellers, RM-NA HB Three Office Building, LLC, RM-NA HB Four Office Building, LLC and RM-NA HB Waterway Shoppes, LLC sold the property to Asuman 57th Street, LLC for $42.95 million in an all cash deal.

TREIS President and Broker Adam J. Tiktin and Investment Associate Alejandro Snyder represented the Sellers in the transaction.

Closing took place September 26, 2018.

“We took over this Heron Bay portfolio listing after other international and national firms were unable to get it sold, and are pleased to have successfully executed another transaction for our clients,” stated Adam J. Tiktin. He added, “The principals of this portfolio and their team, including Hal Cohen, Adam Reiss, and Bob Sherman, are a true pleasure to work with. We are proud to have represented them at the highest level over the past seven years. During that time, we have successfully sold each and every property that they have exclusively listed with us. To date, we have sold seven (7) buildings for these clients, Barry Ross and Bill Matz, including such assets as: Strayer University in Miramar, FL, Starbucks in Pembroke Pines, FL, Village Shoppes in St. Lucie, FL, Indian Trace Commons in Sunrise, FL, and now the Heron Bay Portfolio. Their professionalism, communication, positive attitude, and integrity are always second to none, and we congratulate them on this sale.”

The three buildings were constructed by the Sellers in 2006 and 2008 and are fully occupied with a mix of national, regional and local tenants. The properties are part of the City of Coral Springs’ 22-acre master-planned commercial development.

The Heron Bay portfolio is located at 5810, 5830 and 6230-6240 Coral Ridge Drive in Coral Springs. The two office buildings benefit from direct visibility to the Sawgrass Expressway, which records traffic counts of 180,000 cars daily.

 

Heron Bay Office Buildings Hit The Market

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Tiktin Real Estate Investment Services (TREIS) announced that the firm has been named the exclusive sales agent of a Heron Bay office and retail portfolio in Coral Springs.

The 14-acre site, located directly off the Sawgrass Expressway on Coral Ridge Drive, features Waterway Shoppes, a 40,258 square-foot retail center; Heron Bay III, a 45,344 SF Class A office building; and Heron Bay IV, a 45,383 SF Class A office building.

TREIS President Adam J. Tiktin and Investment Associate Alejandro Snyder have listed the portfolio for $47.37 million.

The three buildings were constructed in 2006 and 2008 and are fully occupied with a mix of national, regional and local tenants. The properties are part of the City of Coral Springs 22-acre master-planned commercial development.

The Heron Bay portfolio is located at 5810, 5830 and 6230-6240 Coral Ridge Drive in Coral Springs. The two office buildings benefit from direct visibility to the Sawgrass Expressway, which records traffic counts of 180,000 cars daily.