Experts: West Palm Beach has Class-A Office Space Glut as New Towers Start to Rise

The following article was originally published in The Palm Beach Post by Alexandra Clough. View Article | View PDF

Photo by Lannis Waters / The Palm Beach Post

Real estate brokers are growing concerned that top tier office buildings have too much shadow sublease space.

Even as another project is up for consideration, West Palm Beach’s downtown office market is loaded with empty space, and there is little demand from tenants outside the area wanting to lease large offices, real estate professionals say.

Interviews with real estate developers and brokers indicate that the city’s Class A office buildings, which typically attract the top tenants, have plentiful space available directly from the buildings, or from office tenants that are trying to sublease their space.

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The Press: Former Palm Beach Post Building Redevelopment

The news is out! The former Palm Beach Post building is being redeveloped into The Press: Palm Beach’s new, vibrant work-play destination.

This unique destination has a rich history as the former Palm Beach Post campus and is being redeveloped into an innovative lifestyle center complete with offices, shops, and an organic grocer. Workplaces at The Press offers contemporary offices with stunning common areas and flexible work and meeting spaces, including its own lounge and free Wi-Fi.

The Press enjoys a premier location near the booming downtown West Palm Beach area. This convenient spot is a short drive from Antique Row, CityPlace/Rosemary Square, the Clematis and Flagler Financial Districts, the Island of Palm Beach, Palm Beach Outlets, the Palm Beach International Airport and everything in between.

View the flyer and call Neil Merin, Chris Smith or Jaime Chamberlin today at 561-471-8000 to learn more about unique office space for lease at Workplaces at The Press in West Palm Beach.

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NEWS PICK-UPS: MHCommercial Acquires Myrtle Beach Retail Center

A few media organizations have picked up our Press Release on the recent acquisition of Prince Creek Village, an 18,000-square-foot retail center in Myrtle Beach, South Carolina.

CoStar: View PDF | View Article

ICSC: View PDF | View Article

CP Executive: View PDF | View Article

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

Boca Raton Chamber: View PDF | View Article

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Neil Merin and Firm Nominated for 2019 SFBJ Structures Awards

We’re excited to share that our Chairman, Neil E. Merin, SIOR, CCIM, and the firm, have been nominated as finalists in the 2019 SFBJ Structures Awards, which aims to honor sky-line changing projects, distinguished developers and outstanding architects at its fourth annual event. Categories include top projects in retail, architecture and design, hospitality, as well as the Developer of the Year and the Terry Stiles Deal of the Year.

Neil has been nominated as Dealmaker of the Year and the company has been nominated for Deal of the Year with it’s 1 E Broward acquisition. We’re honored to be included and wish a hearty Congratulations and Good Luck to all nominees!

View PDF | View Article

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NEWS PICK-UPS: MHCommercial Real Estate Fund & 2601 Oakland Park

A few media organizations have picked up our Press Release on the launch of the firm’s real estate fund, MHCommercial Real Estate Fund I, and the fund’s first purchase of 2601 Oakland Park Blvd.

CRE News: View PDF | View Article

CoStar: View PDF | View Article

South Florida Business Journal: View PDF | View Article

The Real Deal (Fund): View PDF | View Article

The Real Deal (2601 Bldg): View PDF | View Article

CP Executive: View PDF | View Article

BDB Palm Beach County: View PDF | View Article

CRE-Sources: View PDF | View Article

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Neil Merin Listed as One of Florida’s Most Influential Business Leaders

Neil Merin is honored to have made the Florida Trend’s annual “Florida 500” list, comprised of the Sunshine State’s most influential business leaders.

More than 65 leaders from the Palm Beaches made the list, a testament to the value they provide to our rapidly growing region. “They are assets to Florida, providing ideas and solutions to the issues that accompany rapid growth,” said David G. Denor, Publisher of Florida Trend 500.

More than 30 of the leaders are BDB members, including our very own Neil Merin. | View PDF of BDB release.

Click here for access to Florida Trend’s comprehensive list. | View PDF of Neil’s feature.

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MHC Listed as #2 Property Management Firm in Palm Beach County

The South Florida Business Journal released their 2019 Top List of South Florida Commercial Property Mangement 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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NEWS PICK-UP: HappyOrNot Moves to Centerpointe Delray

Please enjoy the following excerpt from the original article by Brian Bandell, Senior Reporter, South Florida Business Journal. View Link | View PDF

NAIOP South Florida also shared details about this deal. View Link | View PDF

Customer service and technology firm HappyOrNot Americas will move into a larger office, where it plans to hire dozens of employees

The Finland-based company, which runs customer service platforms such as kiosks, leased 9,004 square feet at 1690 Congress Ave., Delray Beach for the headquarters of its U.S. operations. It will relocate from 701 Northpoint Parkway, North Palm Beach.

Darcie Lunsford and Sky Butters of Butters Realty & Management represented landlord CDS International Holdings in the deal, while Jason Sundook and Christopher Smith of NAI/Merin Hunter Codman represented HappyOrNot.

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Mystic Cruises Fleet

NEWS PICK-UP: Mystic Cruise Line Chooses 1 East Broward as North American HQ

Please enjoy the below excerpt from the original article “A new luxury expedition-focused cruise line will soon call Florida home” by Ken Storey at Orlando Weekly. View Article | View PDF

From Virgin to Ritz Carlton, the luxury cruise industry grows larger every day, and with it, Florida continues to dominate the industry. Now yet another cruise line has decided to make Florida its home. According to posts by the company on LinkedIn and comments by real estate firm NAI/Merin Hunter Codman, Mystic Cruises USA, the North American division of the new boutique luxury cruise line Mystic Cruises, will be headquartered in Fort Lauderdale. 

Image via Mystic Cruises

Mystic Cruises USA is just the latest cruise line to pick Florida for its headquarters. Disney Cruise Lines is headquartered in Celebration with Royal Caribbean and Carnival both based out of Miami. Soon-to-launch cruise lines Virgin Voyages and Ritz-Carlton Yacht Collection will be headquartered in Plantation and Coconut Grove, respectively. 

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