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A Heartfelt Thanks

Please enjoy the following post, contributed by our Property Manager, Joan Garrick in appreciation of donations contributed by the MHC REAL Leaders Team towards a local Thanksgiving outreach community program.

Giving makes life wonderful. It is in giving that the lives of others are enriched and as such we enrich our own lives.


This note is sent to you today to say thank you.


Thank you for giving of your hard-earned financial resources, time, and energy.


Thank you for partnering with me to share our blessings.


Thank you for giving up time and resources which you could have used for other things.


More importantly, thank you for partnering with me in sharing in my passion to reach out to the needy. The members of my family as well as members of Victory Tabernacle Apostolic International at Avon Park came together, prepared, and distributed 257 packages of cooked meals and care packages to the needy on Thanksgiving Day, Thursday November 26, 2020.


You were all part of the emotional, tear-filled eyes of elderly men and women, some confined to wheel chairs; and other individuals as they said thank you for even being bothered to care about on Thanksgiving Day 2020.


To all of you on behalf of these elderly persons, children, and parents.
Thank You for Caring and Sharing.

Joan Garrick

We’re honored to have been a part of bringing hope to our community and wish for everyone to have a healthy and happy holiday season.

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NEWS PICK-UPS: Esperante Hires Dynamic MHC Leasing Team

Thanks to the following media organizations who have picked up our Press Release about the leasing assignment of the iconic Esperante Corporate Center in West Palm Beach.

South Florida Business Wealth Magazine: View Link | View PDF

South Florida’s Office Brokers Association: View Link | View PDF

CRE Sources: View Link | View PDF

Palm Beach Chamber North: View Link | View PDF

Boca Raton Chamber: View Link | View PDF

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PRESS RELEASE: Esperante Office Building Hires Dynamic and Diverse Leasing Team in Downtown West Palm Beach

NAI/Merin Hunter Codman tapped to lease iconic Esperante Corporate Center.

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, is proud to announce that it has been retained to oversee all leasing for the iconic 20-story, 256,000 square-foot, Esperante Corporate Center located in the heart of downtown West Palm Beach at 222 Lakeview Avenue.

RedSky Capital, who purchased this premier trophy property in 2016 and recently completed over $8 million in property renovations, awarded the leasing assignment to one of NAI/Merin Hunter Codman’s most diverse, experienced and productive leasing teams. The office leasing for Esperante Corporate Center will be led by Managing Directors Lesley Sheinberg and Barbara LeBrun, SIOR who will be supported by Commercial Associate Alexandra Bazo with the retail portion of the property being handled by NAI/Merin Hunter Codman’s long-time Retail Service Group Managing Director Bruce Corn.

“Esperante Corporate Center has been an iconic part of the West Palm Beach skyline since 1989. NAI/Merin Hunter Codman has been a force in the Palm Beach County commercial real estate marketplace just as long, if not longer. Their long-term local market leadership, local and global connections, and proven track record made them a perfect fit to represent Esperante,” cited Ben Stokes, Principal of RedSky Capital.

NAI/Merin Hunter Codman’s Lesley Sheinberg added, “Esperante is a premier commercial property, offering an array of first-class amenities and services. The stunning renovations combined with the exciting retail aspect of the property makes it a highly competitive prospect for out-of-state firms coming to South Florida to take advantage of our favorable and tax-friendly business climate along with our incomparable lifestyle. We are seeing more and more businesses leaving large metropolitan areas and relocating to West Palm Beach in response to the challenges posed by the coronavirus. Esperante’s owners and our team welcome the opportunity to introduce this one-of-a-kind downtown West Palm Beach jewel to office and retail users across the country.”

Esperante Corporate Center offers a variety of floor plans to suit multiple needs, including build-to-suit and move-in ready options for boutique and corporate headquarter users alike. The building is currently offering ±600-35,000 square feet of office space with full floor opportunities and retail space from ±600-2,400 square feet, including high-visibility café opportunities. To learn more please visit EsperanteWPB.com or call 561-471-8000.

CLICK HERE to view the full Press Release.

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Major hedge fund moving to West Palm Beach from New York

View the original article by Alexandra Clough, Palm Beach Post | View PDF of article

A $41 billion hedge fund based in New York plans to temporarily lease space in the Phillips Point office complex as part of a larger move to bring its headquarters to West Palm Beach, three real estate sources said on Thursday.

Phillips Pointe in Downtown West Palm Beach

Paul Singer’s Elliott Management Corp. also will open an office in Greenwich, Ct., as well as keep a presence in Manhattan, according to Bloomberg News, which first reported Elliott’s move to West Palm Beach but did not identify a location.

Real estate experts familiar with Elliott’s search said the firm will sublease 7,600 square feet of space belonging to the Arnold and Porter law firm at Phillips Point, a twin-tower office complex at 777 S. Flagler Drive, overlooking the Intracoastal Waterway.

The short-term lease is temporary space until Elliott can open more permanent offices of at least 25,000 square feet. The likely landing spot: 360 Rosemary, the new office building under construction by Related Cos. at Rosemary Square, according to two real estate sources.

Brokerage General
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WPB Isn’t Worried About Downtown Office Space

The following is an excerpt from an article originally published in The Palm Beach Post by Alexandra Clough. VIEW LINK | VIEW PDF

The city of West Palm Beach is not worried about the future of office space in the city’s downtown. This is despite a glut of new space about to hit the market, an unsightly half-finished office complex and a lingering pandemic that has kept most workers at home for months.

Lannis Waters, The Palm Beach Post

In West Palm Beach, only about 20% of workers are coming in to the office, brokers said. Other workers are coming in on staggered days so as not to crowd interior spaces and risk spreading the airborne COVID-19 virus.

As a result, a number of companies are paying for leased space that is mostly empty, prompting questions about the future of office space. Some national companies, such as Twitter, have told employees they can work from home forever.

But West Palm Beach officials remain upbeat that people will return to the office, and the market will return.

“Though there is current uncertainty due to the upcoming presidential election and COVID-19, all indications suggest the office market will rebound,” said Kathleen Walter, a city spokeswoman.

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Last December, prior to the pandemic, commercial real estate brokers warned there was a sizable shadow market of empty space downtown.

Neil Merin, chairman of NAI/Merin Hunter Codman, said that with two new office towers under construction, the amount of vacant space would rise to 35% from about 17%. Other brokers said leasing activity was very slow, and no large tenants were even making inquiries about office space.

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The Future of Office Space

The following article was published in the Fall 2020 Palm Beach County Quarterly Economic Development Magazine from the Business Development Board of Palm Beach County.

Palm Beach County’s office market may wind up benefiting from the changing national work-from-anywhere landscape. “I believe our market will be more attractive to companies from the crowded Northeast seeking to relocate here,” said Jeffrey M. Kelly, executive vice president, CBRE in Boca Raton. “But in the short-term, availabilities will increase. I believe this is a hiccup and am optimistic that we will recover.”

Neil Merin, Chairman, NAI/Merin Hunter Codman in West Palm Beach, says the work-from-home trend due to the COVID-19 health threat has shown that people don’t have to be in a large office to stay connected. “Owners and executives with small offices in Palm Beach County are finding they can spend more time here,” Merin said. “That portends more movement away from the big Northeast cities to offices here.”

Meanwhile, the need for social distancing at work may change the size and configuration of office spaces, added Merin. While some businesses may downsize and try to sublet their current space, others will retain their current footprints, even if there are fewer employees on the premises at any one time.

“There will be lower demand for co-working spaces until the pandemic has receded,” Merin said.

Another trend will be the need to provide healthy office workspaces, including stepped-up sanitation and ventilation systems. “When employees are spending eight or 10 hours a day in an office, they want to feel safe,” he added. Common areas like kitchens and lounges may also need to be reconfigured for employees taking a break during the day.

Jeff Kelly expects a lower employee headcount in office spaces to drive down the need for on-site parking. “That’s a positive because land in Palm Beach County is so valuable,” he said. “It may lead to some creative uses of that extra space.”

As for new construction, Jeff Kelly said some buildings under construction, like 360 Rosemary in West Palm Beach, are likely to be completed on schedule, while others may be delayed until preleasing commitments support the financial investment. “Fortunately, Palm Beach County is not a big office market, and a few major leases could move the vacancy rate downward significantly.”

VIEW THE PUBLISHED ARTICLE | VIEW THE FULL FALL 2020 ISSUE

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PRESS RELEASE: Lockdowns Have Not Locked Up Commercial Real Estate Transactions

— Two of NAI/Merin Hunter Codman’s commercial real estate experts discuss what it takes to close transactions during the COVID-19 pandemic. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, acknowledges that commercial real estate transaction activity has slowed throughout the first six months of the COVID-19 pandemic but the firm notes that it has not been locked down entirely. Two of the firm’s seasoned veteran brokers, retail expert Bruce Corn and office market specialist Adam Starr, have successfully completed nearly $10,000,000 in lease and sale transactions while most of South Florida’s shelter-in-place mandates remain in place. The secret to their success has been what they have always done… servicing their long-time clients with updated market intelligence and creative deal making options.

Bruce Corn

Long-time office veteran Adam Starr and retail expert Bruce Corn represent two different commercial real estate market sectors, but they have two things in common – expertise in navigating positive and negative market cycles, as well as long-term, trusted client relationships.

Local office market expert, Adam Starr, who joined NAI/Merin Hunter Codman in January 2020, just six weeks prior to the pandemic shutdown, has facilitated transactions in excess of $5.4 million on behalf of his clients, completing lease transactions in excess of $4.5 million and one building sale in Jacksonville, on behalf of a long-time local client, for $910,000, completed just last week.

Adam Starr

Bruce Corn, who has led NAI/Merin Hunter Codman’s retail services for nearly 30 years, has completed both sales and lease transactions totaling over $5.5 million on behalf of his clients.

Brokerage Press Releases Transactions
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MHC Listed as #2 Property Management Firm in Palm Beach County

The South Florida Business Journal released their 2020 Top List of South Florida Commercial Property Management Firms ranked by square foot managed.

We’re proud to be listed as the #2 firm within Palm Beach County and wish a hearty congrats to all other firms listed!

View List as PDF

View List Online

Good property management ensures happy tenants and owners while maintaining the value of real estate assets. We pride ourselves on our reputation of well-maintained and managed office, industrial, retail and corporate facilities.

How can we help you? NAI/Merin Hunter Codman is one of South Florida’s leading commercial real estate firms and the largest in Palm Beach County. We have over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation, tenant representation, property management, and construction management services. The firm has expertise in all commercial property sectors including office, retail, industrial, multifamily, hotels, and land. To learn more about our services click here.

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