PRESS RELEASE: Former Toys “R” Us Building in Royal Palm Beach Sells for $15,800,000

— NAI/Merin Hunter Codman represents buyer in the purchase of a vacant 55,962 square foot retail box. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman Managing Directors, Barbara LeBrun, SIOR and Lesley Sheinberg represented a confidential buyer in the $15,800,000 purchase of 450 S State Road 7 in Royal Palm Beach. The 55,962 square foot retail property, built in 2012, traded for $282.33 per square foot. Ross Waters, Principal of Atlantic Realty represented the seller Treeco/Soder Royal Palm LLC who purchased the property in 2015 for $13,000,000 when the building was 100% leased to Toys “R” Us. The June 2018 closing of the iconic Toys “R” Us chain left a gaping 28.6 million square foot vacancy in the U.S. retail market. The company owned or leased 23 properties in the South Florida Tri-County market, ten of which were in Palm Beach County, most of which currently stand empty and are available for redevelopment.

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NAI/Merin Hunter Codman Announces 2018 Broker of the Year

– Lesley Sheinberg wins her second Broker of the Year award from top South Florida commercial real estate firm, NAI/Merin Hunter Codman –

West Palm Beach, FL – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate firms, is pleased to announce that Managing Director, Lesley Sheinberg has been named its 2018 Broker of the Year.

This is the second Broker of the Year award for Ms. Sheinberg who is also is a multiple time CoStar Group, Inc, Power Broker Award winner.  She has represented institutional and private equity commercial real estate clients for over 20 years and is one of Palm Beach County’s leading medical office and healthcare real estate specialists. Ms. Sheinberg has completed over 1,000,000-square feet of lease transactions and in excess of $20 million of investment sales.

Press Releases Transactions

PRESS RELEASE: J.G. WENTWORTH HOME LENDING IS EXPANDING TO 951 YAMATO

— NAI/Merin Hunter Codman represented the owner, 951 Yamato Acquisition Company LLC an affiliate of Brookwood Financial Partners, LLC, in the 10,661-square-foot transaction. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to welcome J.G. Wentworth Home Lending LLC to 951 Yamato. J.G. Wentworth Home Lending LLC, a direct mortgage lender, is expanding into 10,661 square feet at 951 Yamato Road, Boca Raton, FL. Jay M. Grossman, President and Director, Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC. Tom Farmer, Vice-President of Office Leasing at Colliers International represented the tenant.

Due to a successful repositioning of their business model, poised to capture a larger portion of the purchase market sector, J.G. Wentworth Home Lending had outgrown its existing 7,000-square-foot office space. Assistant Vice President, Direct Lending, Evan Pruzan of J.G. Wentworth Home Lending stated, “We toured the Boca Raton market for six months with sights set on finding a Class-A office building, packed with amenities, which offered an above standard parking ratio. 951 Yamato met and exceeded our requirements. The building is a perfect fit and the perfect location to achieve our recruiting and retention objectives.”

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