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CHECK OUT THE 1 EAST BROWARD VIDEO

Premier Downtown Fort Lauderdale Office Space Like You’ve Never Seen It Before.

Welcome to 1 East Broward, a class-A, high-rise office tower located in downtown Fort Lauderdale, FL with stunning panoramic views. Located at Andrews Ave and Broward Blvd, 1 East Broward is close to everything… Las Olas, FAT Village, Flagler Village, Avenue of the Arts, Luxury Residences, City Hall, Courthouse, Governmental Center, The Warf, Salt, the Riverfront and more. Ask about our full floor, 17,500 square foot, build-to-suit, office space available for lease today. Contact Max Pawk at at 561-471-8000 or mhc@mhcreal.com.

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Neil E. Merin & Jason L. Sundook Named 2021 South Florida Power Leaders in Real Estate by SFBJ

2021 Power Leaders in Real Estate

By Jeff Zbar – Correspondent, South Florida Business Journal

April 30, 2021 – The real estate sector was deemed an essential business during the pandemic. Executives also proved to be resourceful and resilient. Countless new projects in single-family, rental apartment, and condominium residential, as well as warehouse, distribution, and logistics developments, are dotting the map from Miami through greater Fort Lauderdale and north to the Palm Beaches.


The flood has been fueled by workers and executives fleeing higher-cost, lower-quality-of-life regions such as the Northeast, Midwest and even California. They’re seeking a more amenable and less expensive remote work or corporate relocation destination.


This search, in one form or another, is nothing new. It has driven development statewide since before Henry Flagler brought his railway south. Today, it’s spurring billions of dollars in development and cementing the region’s role for more than 1,000 newcomers daily as the nation’s place to live, work, and play.


Beyond resourceful, resilient or even essential, these Power Leaders – and those featured in the 2021 South Florida Business Journal’s new Power Brokers subsection – have proven the real estate sector vital to the region’s health and future. We’re honored to have our very own Neil E. Merin, SIOR, CCIM and Jason L. Sundook, SIOR on the esteemed list.

Ready to see the area’s largest brokerages and their biggest producers?

Link to Article | PDF of Article | Congratulations Ad

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National Bank recommits to a long-term, 10,000 square-foot lease at Commercial Tower, Fort Lauderdale

NAI/Merin Hunter Codman’s Managing Director, Adam Starr, represented the landlord in over 17,000 square feet of leasing transactions in the first quarter of 2021.

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, announces the completion of over 17,000 square feet of leasing in the first quarter of 2021 at Commercial Tower, 2101 W Commercial Boulevard, Fort Lauderdale, Florida. Landlord representative and NAI/Merin Hunter Codman Managing Director Adam Starr’s latest deal is another example of South Florida office leasing holding strong despite the Covid-19 pandemic. Centennial Bank, a subsidiary of Home BancShares (NASDAQ – HOMB), just recommitted to a long-term lease for 10,763 square feet. Cushman & Wakefield’s Jeff Holding represented Centennial Bank in the transaction.

NRNS Acquisition 2101 Commercial LLC purchased Commercial Tower, a 94,532 square-foot, 5-story professional office building in 2016. Over the past 24 months ownership has invested over a million dollars in property improvements. A partial list of upgrades includes remodeling of the lobby and common area restrooms, installation of brand-new elevator cabs, as well as exterior parking lot and landscaping improvements. Remodeling of common area hallways are underway and will be completed over the next 18 months. Mr. Starr added, “Landlords who continually reinvest in their properties, creating inviting environments, and who remain committed to improving the tenants’ work experience always fare better during downward and upward market cycles. The pandemic may still be defining this cycle and personal business plans, but due to the commitment of Commercial Tower’s ownership, we have been able to lease space to new tenants, as well as retaining existing tenants who are excited about the changes throughout the building.”

CEO Jordan C. Paul states, “Adam is 100% correct. The characteristics that made South Florida a great place to live and work are still in place and our region is bouncing back from this pandemic and welcoming new northern companies every day. Landlords must position their properties now to remain on incoming tenants’ shortlists of potential space. I’d like to acknowledge Adam for a job well done on advising his clients on how to position themselves through this market cycle.”

To learn more about office space available at Commercial Tower please contact Adam Starr today at 561-471-8000 or astarr@mhcreal.com.  To view the stunning lobby click here.  

CLICK HERE to view the full Press Release.

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Thanks to the following publications that shared the news!

South Florida Business Journal: View Link | View PDF
Boca Tribune: View Link | View PDF
Business Development Board: View Link | View PDF
Boca Chamber: View Link | View PDF
North Palm Beach Chamber: View Link | View PDF

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white and orange pumpkins on table
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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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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.

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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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How has COVID-19 affected local, medically zoned commercial real estate?

As featured in Palm Beach County Medical Society

Lesley Sheinberg, NAI/Merin Hunter Codman medical commercial real estate specialist discusses current trends in the local medical real estate market.

It’s no secret that the effects of COVID-19’s social distancing and shelter-in-place mandates have resulted in challenges for the commercial real estate market locally and beyond. One would think that medical properties would thrive during a health-related crisis. However, the real estate market is no more resilient than other sectors, and despite their high demand, not even medical properties are immune.

South Florida, a cited COVID-19 hot spot, put local stay-at-home and social distancing orders in place earlier and longer than other areas of Florida. The March 20, 2020 Executive Order prohibiting medical professionals from performing “unnecessary, non-urgent or non-emergency procedures or surgery” are just now being lifted. These orders resulted in patients refraining from visiting their local doctors for normal basic services as well as non-urgent matters. Simultaneously, urgent care and hospital providers themselves faced sharp increases in costs. The American Hospital Association’s recent report, Hospitals and Health Systems Face Unprecedented Financial Pressures Due to COVID-19, cited, “a total four-month financial impact of $202.6 billion in losses for America’s hospitals and health systems, or an average of $50.7 billion per month”.

As we all wait and hope for a return to normal and improving economic conditions, those making real estate decisions need to be cognizant of the near-term impacts on the medical commercial real estate market. These include:

  1. A large number of leasing, acquisition and dispositions being put on hold;
  2. Fewer previously planned developments being likely to break ground;
  3. Fewer healthcare firm mergers and acquisitions are likely to take place.

On a positive note, healthcare should be one of the few economic sectors to accelerate staffing, and there may be increased funding available for research, facilities/equipment, and preparedness planning.

If your practice is at a point where you want to consider long term growth or resizing, this may be a prime time to:

a. Negotiate an advantageous lease rate for a longer term with better build-out concessions to accommodate square footage needs.
b. Consider purchasing a property at a lower price point than prior to the pandemic, as many second quarter 2020 deals have fallen through or are on hold.

If your practice is struggling, my best piece of advice is to have an open and honest line of communication with your current landlord. Landlords are generally taking a realistic approach with clients that they believe will be assets to their properties over the long term. As a medical real estate specialist, I am happy to counsel my clients regarding their options including a lease review, and an identification of potential opportunities to expand, contract, trade-up, acquire or dispose of commercial real estate. Working with my colleagues at NAI/Merin Hunter Codman, we can utilize our expertise to assist tenants and landlords as they work through today’s challenges. Whether your question is big or small, don’t hesitate to reach out for a free consultation.

To reach Lesley Sheinberg please call 561-254-7810 or 561-471-8000.

CLICK HERE to view the full PDF Release | CLICK HERE to view the printed article.

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