NEWS PICK-UP: Company Announces Plan to Relocate to Palm Beach County

The Business Development Board (BDB) is pleased to announce Convergence Investment Partners is relocating from Grafton, Wisconsin to the city of Palm Beach Gardens. The company has leased 2,400 square feet of space at 3801 PGA Boulevard for their new headquarters, where they plan to employ 10 professionals. The BDB has been facilitating this relocation since 2016. Christopher Smith and Jason Sundook of NAI Merin Hunter Codman, represented Convergence while Tara England and Mark Pateman of Cushman & Wakefield represented the owners of 3801 PGA Blvd.

“As an investment manager, there were several key attributes which led us to choosing Palm Beach County as our new home,” noted Dave Abitz, President of Convergence. “The concentration of fellow investment professionals and hedge funds ranked high on our list of positive attributes that Palm Beach Gardens has to offer. The favorable tax climate and weather conditions further tipped the scale in our decision. Moving from a part of the country nicknamed the “Frozen Tundra” to a state where your license plate reads “Endless Summer,” made this an obvious choice for our team!”

Full Article: PDF | BDB Website Link

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EVENT: 2018 Cheribundi Boca Bowl

NAI/Merin Hunter CodmanNAI Miami, and NAI Rauch Weaver, together with NAI Global were proud to again sponsor the area’s premier ESPN college football game – the 2018 Cheribundi Boca Raton Bowl held at Florida Atlantic University in Boca Raton. UAB won its first ever bowl game in school history outscoring Northern Illinois 37-13. They took at 27-10 lead at halftime before scoring another 10 points in the second half to put the game away.

Thank you to all of our clients, partners, and attendees for joining us at this year’s game. We were honored to have two special attendees with us: Jay Olshonsky (President, NAI Global) and Arnaldo Oliveras Fernandez, MBA (President, NAI Puerto Rico). We look forward to seeing everyone again at our 2019 pre-game tailgate!

Events

PRESS RELEASE: NAI/Merin Hunter Codman Executes $2,725,000 Sale of Vacant Former CVS in Boca Raton

— Chairman, Neil E. Merin, SIOR, CCIM and Principal, Spencer S. Grossman represented the seller, Kimberly Estates II, LLC, in the 11,200-square-foot transaction —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, would like to congratulate its Chairman, Neil E. Merin, SIOR, CCIM and Principal, Spencer S. Grossman on the $2,725,000, $243 per square foot, sale of 10055 Yamato Road in Boca Raton. NAI/Merin Hunter Codman represented the seller, Kimberly Estates II LLC in the sale of the 11,200-square-foot former CVS building constructed on 1.30 acres. Andy Mandel a Broker with RE/MAX Advisors represented the purchaser, Nexgen Legacy Group LLC.

NAI/Merin Hunter Codman Principal, Spencer S. Grossman reported, “Our client, which had owned the property for nearly 12 years, was ready to dispose of the asset as it no longer fit their investment criteria. The day the property hit the market multiple offers were received and we were able to negotiate a great deal for our client. The property traded for just under the asking price as it is rare to find well-built buildings on hard corners in Boca Raton.”

Neil E. Merin, SIOR, CCIM, Chairman of NAI/Merin Hunter Codman added, “Maximum asset value, despite vacancy, is the highlight of this transaction. Through NAI/Merin Hunter Codman’s three decades of local market expertise we were able to correctly price and position the asset which ultimately allowed us to find the right buyer.”

The purchaser, Nexgen Legacy Group, LLC, plans to convert a portion of the property for its own businesses and build-out an executive suite operation in the remainder of the space.

CLICK HERE to view the full release.

About NAI/Merin Hunter Codman
NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate services firms with 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. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private equity investors. Operating as part of the NAI Global network, NAI/Merin Hunter Codman can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach, Florida with regional offices in Boca Raton, Fort Lauderdale, Palm Beach Gardens and Wellington.

Press Releases

2018 Top Deal Deal Makers Share Their Trade Secrets

EpubXpress

History repeated itself with another banner year for CCIM designees. While the office sector dominated deal flow yet again, multifamily, retail, industrial, and land sectors also saw strong investment. But what about the people behind these deals? CIRE spoke with the CCIM designees recognized with the biggest deals from our 2018 issues to discover their secrets to big deal success and what they see in their crystal balls for 2019.

View PDF | View Link

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