VOLUNTEER EVENT: Vinceremos Therapeutic Riding Center

Vinceremos Therapeutic Riding Center is nestled on 15 acres in Loxahatchee and uses the healing power of horses to help disabled clients conquer challenges, gain independence and achieve a higher quality of life.

Vinceremos itself means “to overcome” or “to conquer” in Latin and it sure has come a long way since its founder, Ruth Menor, started the idea in the backyard of a friend’s home with one client and one horse. Today the non-profit has over a dozen horses, a 24-stall “Da Amici” barn, and a 45,000 SF covered arena. The facility was made possible largely through the generosity of donors.

Volunteers are also an essential part of the organization and help in a variety of areas including horse care and barn chores, supporting lessons, assisting with office work and more. Our REAL Leaders were lucky enough to have volunteered here a few years ago and a new group was so happy to be able to assist again. On Friday, May 17th our volunteers assisted with barn chores and facility maintenance. They left with full hearts and the satisfaction of a morning well-spent.

Click here for more information about programs, eligibility and how you can help.

NAI REAL Leaders

PRESS RELEASE: ULI West Palm Beach Development and Investment Forum Showcases Extraordinary Citywide Growth

WEST PALM BEACH, Fla. (May 10, 2019) –   A collection of some of Florida’s leading commercial and residential real estate developers, architects, and urban planning experts gathered today to speak to a crowd of almost 300 about real estate trends, opportunities and related issues at the Urban Land Institute (ULI) West Palm Beach Development and Investment Forum at the Hilton West Palm Beach.

Chairman Neil Merin, of NAI/Merin Hunter Codman, kicked off the three-hour program by itemizing the highlights of more than $3 billion worth of new investment in West Palm Beach either underway or planned.  This includes 2,336 hotel rooms, 3,520 residential units, 1,310,000 sq. ft. of new Class A office space and Hospital for Special Surgery’s first expansion outside its home base in New York. These investments are “game-changers for the city,” according to Raphael Clemente, executive director of the West Palm Beach Downtown Development Authority, a co-sponsor of the event with ULI. “The entire city is flourishing, and downtown development is the most intense it’s been since the days of Henry Flagler. The big difference is that today, our planners are steering the kind of growth that advances the quality of life for all.”

“All of the new Class A office space will help stabilize rates and allow us to fulfill the demand from out-of-market companies looking to locate here,” Merin said. The new residential units and major commercial projects have contributed to a recent increase in the city’s tax base of 13.5 percent, he added, a number that is expected to keep rising.  He also cited the extensive recent upgrades to some of the city’s cultural institutions bringing them to world-class levels, especially the Norton Museum of Art and the Kravis Center for the Performing Arts. “Investment in arts and culture adds real value to the continued viability of the real estate market. There is a direct correlation.” (Click here to view a slideshow of his presentation.)

Events Market Reports News Articles Press Releases

Intelligent Buildings. Innovative Property Management.

NAI/Merin Hunter Codman’s bi-monthly Property Management Team Meeting for April was held at the UTC Center for Intelligent Buildings, a first-of-its-kind technology, innovation and collaboration center showcasing cutting edge products and integrated systems, located in Palm Beach Gardens.

A personalized one-hour tour through the building provided an interactive experience revealing the unseen – taking critical building technologies that are typically hidden and making them visible and interactive. They were able to interact with displays that highlighted United Technologies brands from tech, HVAC, elevators, fire and security systems, and building automation. The team also learned about all the various sustainability efforts adopted at the building from solar to reclaimed water, to seeking LEED Platinum certification by the U.S. Green Council.

The UTC Center for Intelligent Buildings is more than a high-tech, modern work-space. It’s a living showcase of what’s possible when technology is implemented intelligently and integrated to increase efficiency, protect people and property, and enhance the occupant experience.

NAI/Merin Hunter Codman prides itself on our reputation for well marketed, maintained and managed properties. Tours like this enable our Property Management Team to understand new, efficient ways to improve our services to landlords and tenants alike. We offer comprehensive property management services for office, industrial, retail and corporate facilities, ensuring that day-to-day operations are smooth and seamless. Click here to learn more about our Property Management services.

Property Management

Dated West Palm Beach Retail Development to Become Urban Village

By: Paul Owers, CoStar

After opening almost two decades ago near downtown West Palm Beach, Florida, the largest real estate development in the city’s history has a new name and focus, part of an evolution older centers nationwide are undertaking to appeal to millennials who prefer to shop online.

CityPlace, at 575 S. Rosemary Ave. , now is known as Rosemary Square, and The Related Cos. of New York says it is spending $550 million in the next five years to rebrand the aging outdoor center as an urban village to make it more of a destination that is different from other developments. West Palm Beach sits just across the Intracoastal Waterway from President Donald Trump’s Mar-a-Lago resort and other palatial properties in Palm Beach.

Similar retail transformations are happening at centers in and near Miami and across the United States as e-commerce gains more traction in the era of Amazon.

As Macy’s, Sears and other traditional retail heavyweights close stores, mall landlords are replacing them with innovative concepts and tenants that offer experiences to customers. Some owners are reconfiguring the spaces, adding apartments and even grocery stores , as a way to keep once-stale properties relevant.

“Not only do they have to be innovative and creative, but once the innovation becomes public, the shelf life is obviously shorter because everybody duplicates it,” said Michael Lagazo, an independent retail broker in San Diego.

“Shopping doesn’t hold our fascination as it did in the ‘70s, ‘80s and ‘90s,” added Neil Merin, a longtime South Florida broker and chairman of Merin Hunter Codman in West Palm Beach. “People want unique experiences.”

While the new name may be hard to get used to, CityPlace’s repositioning has merit, said Robert Granda, vice president of investments for the Marcus & Millichap brokerage in Fort Lauderdale, Florida.

“They had to do something,” Granda said. “CityPlace had a negative correlation. It was dying a very slow death.”

At first, the $375 million CityPlace was an image boost for West Palm Beach. The development helped the city attract locals who left Palm Beach County to drive south to bars and restaurants on trendy Las Olas Boulevard in Fort Lauderdale or to the swanky nightclubs on Miami Beach.

But CityPlace eventually grew stagnant, losing patrons to nearby downtown areas, including Atlantic Avenue 20 miles south in Delray Beach, Granda said.

Related Cos.’ investment in Rosemary Square includes adding a hotel and a 300,000-square-foot office tower while also turning a former Macy’s department store into a 21-story mixed-use building featuring residences and office space.

Click Here to view full original article | Click Here to view PDF

News Articles

NEWS PICK-UPS: The Workspace at The Press

A few media organizations have picked up our Press Release on the firm’s new property management and leasing assignment of The Press, the former ±300,000 SF Palm Beach Post campus located at 2751 S Dixie Highway in West Palm Beach.

CRE-Sources: View PDF | View Article

Business Development Board of Palm Beach County: View PDF | View Article

Boca Raton Chamber: View PDF | View Article

Chamber of Commerce of the Palm Beaches: View PDF | View Article

BOMA: View PDF | View Article

General News Articles Property Management

The Buzz! Beeline Commons coming to the Palm Beach Park of Commerce

NAI/Merin Hunter Codman tapped to lease the retail development at Beeline Commons.

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, announces the retail leasing assignment of Palm Beach Park of Common’s Beeline Commons, 15519 Beeline Highway, 15279, 15319, and 15320 Commercial Circle in Jupiter. NAI/Merin Hunter Codman has partnered with Palm Beach Investment Property LLC to bring two 2,200-square foot quick service restaurants and a 5,600-square foot gas station/convenience store to the 9.54-acre Beeline Commons development.

All three sites will be located at the entrance of Palm Beach Park of Commerce to service the needs of the 70 existing businesses and 4,800 current employees. Additional area development plans include Kelly Slater’s Surf Ranch Florida surf park, TPA Group’s latest warehouse, a four-story medical office building and a 75,000-square foot, 120-room hotel. Pratt & Whitney and a major aviation complex also anchor the business park.

“The Beeline Highway area and Palm Beach Park of Commerce have become a destination for industrial users. With workforce growth comes the need for retail, Palm Beach Investment Property LLC purchased property in 2017 with that foresight in mind. NAI/Merin Hunter Codman is proud to partner with Beeline Commons in assisting to fill that need,” stated NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM.  The NAI/Merin Hunter Codman leasing team consists of Chairman, Neil E. Merin, SIOR, CCIM and Bruce Corn, Retail Services Group’s Managing Director. To learn more about leasing opportunities please call 561-471-8000.

Full Press Release | Leasing Information

General Press Releases

PRESS RELEASE: Industry Leaders Recognizing Industry Leaders

NAI/Merin Hunter Codman receives top CoStar, South Florida Business Journal, SIOR, CCIM and NAIOP commercial real estate awards and recognition.

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, has been recognized by top commercial real estate organizations: CoStar Group, Inc., Society of Industrial and Office Realtors (SIOR), Certified Commercial Investment Member (CCIM), National Association of Industrial and Office Parks South Florida Chapter (NAIOP), and the South Florida Business Journal, for 2018 commercial real estate transactions and property management.

CoStar Group, Inc., the commercial real estate analytic leader, recognizes professionals and firms who closed the highest transaction volume in their respective markets by awarding CoStar’s prestigious Power Broker Awards. NAI/Merin Hunter Codman has been a CoStar Power Broker Award recipient for 16 consecutive years. 2018 Power Broker awards include:

  • Top Sales Firm
  • Top Leasing Firm
  • Top Retail Leasing Broker, Bruce Corn

NAI/Merin Hunter Codman was also again recognized by the South Florida Business Journal in the 2019 Book of Lists as the #1 Property Management firm in Palm Beach County and #16 in South Florida. Rankings are a based on rentable square feet managed as of July 2018.

NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM was recognized by both SIOR and CCIM for 2018 transactions. Mr. Merin was listed in SIOR’s Top Transaction Award Winner and CCIM’s Biggest Deal of 2018 announcements. The firm was also a finalist for NAIOP South Florida Chapter’s 2018 Office Sale of the Year: Over $50 Million for their participation in the purchase of 1 East Broward, in Ft. Lauderdale, FL.  Jordan Paul, CEO of NAI/Merin Hunter Codman stated, “The market expertise provided by our team of professionals sets NAI/Merin Hunter Codman ahead of the pack. It is a true honor to be recognized as an industry leader.”

CLICK HERE to view the full press release.

Press Releases Transactions

1 E Broward Nominated for NAIOP Award of Excellence

We’re thrilled that 1 E Broward was nominated for the NAIOP Award of Excellence for “Office Sale of the Year Over $50 Million”. 1 E Broward is a 351,705 SF Class-A office tower in downtown Fort Lauderdale. The $100 million-plus acquisition required extensive teamwork between the Seller, a local operating partner, and an institutional owner.

NAI/Merin Hunter Codman, Inc. would like to recognize CBRE, PCCP, SunTrust Bank, Shutts & Bowen and Kapp Morrison LLP for their parts in this complex transaction.

The Awards of Excellence are held annually and recognize various achievements in the South Florida commercial real estate market.

In addition to awards for the biggest and best of 2018, the evening also celebrated CBRE Senior Vice President Harry Tangalakis, who received the Lifetime Achievement Award.

Congrats to all nominees and winners!

The NAI/Merin Hunter Codman, Inc. team and guests enjoyed the Awards on 3/14/19 at the Fort Lauderdale Marriott Harbor Beach Resort & Spa.

Events Transactions

Neil Merin Recognized as 2018 SIOR Top Transaction Award Winner

Please find an excerpt of SIOR’s Press Release below.

“SIORs are known around the world as the elite commercial real estate professionals in their respective market and specialty,” said Robert G. Thornburgh, SIOR’s Global President. “The Top Transaction Award Winners have truly distinguished themselves as the best of the best in the industry. We would like to congratulate all the recipients of this tremendous honor and for continuously delivering extraordinary results to their clients throughout the year.”

The top five transactions of the year are:

  1. David Schmidt, SIOR, and Stephen Gibson, SIOR, both of Colliers International, arranged the $245 million sale of 445,058 square feet of office space in Santa Clara, California;
  2. Damian Rivera, SIOR, of ESRP arranged the $110 million lease of 1,252,908 square feet of office space in Plano, Texas;
  3. Neil Merin, SIOR, CCIM, of NAI Merin Hunter Codman arranged the $108.5 million sale of 351,705 square feet of office space in Fort Lauderdale, Florida;
  4. Mark Detmer, SIOR, CCIM and Bo Mills, SIOR, of JLL arranged the $98 million sale of 1,009,387 square feet of industrial space in Phoenix, Arizona;
  5. Mark Zorn, SIOR, of Colliers International arranged the $94.2 million sale of 702,663 square feet of industrial space in Rialto, California.

SIOR has also recognized the Top 50 Office Deals, Top 50 Industrial Deals, Top 10 Office Sales, Top 10 Office Leases, Top 10 Office Investment and Top 10 Industrial Investment. For a complete list of the 2018 SIOR Top Transaction lists, click here.

News Articles Press Releases Transactions