NEWS PICK-UP: Jeff Greene set to break ground for West Palm’s first new office space in a decade

“The Palm Beach Post reported that billionaire Jeff Greene is ready to hire a general contractor to build a 30-story office, hotel and apartment complex in West Palm Beach.

Neil Merin, chairman of NAI/Merin Hunter Codman, told the Palm Beach Post that Greene and Related Cos. will need at least five years to lease the office space at both One West Palm and 360 Rosemary if they open simultaneously.”

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NEWS PICK-UP: Related plans new office tower at CityPlace’s north end

The Related Cos. plans to build an 18-story office building on the north end of CityPlace, a move that could boost efforts to link the West Palm Beach mixed-use center to the rest of downtown and further develop the city’s core urban district.

360 Rosemary is slated to rise at the corner of Rosemary Avenue and Evernia Street, the first in a series of steps designed to expand and update CityPlace, a shopping, dining and residential center built by Related.

The 285,000-square-foot tower will be across from Publix. The supermarket was courted for the ground floor space, but a Related official said this week that Publix is staying put at CityPlace. The office tower instead will feature another retailer.

“It’s a big building for our market,” said Neil Merin, chairman of NAI/Merin Hunter Codman in West Palm Beach.

Related tried to build another office tower next to CityPlace a few years ago, but it was unable to obtain enough tenants willing to pre-lease space in the project, dubbed Gateway Tower.

In 2014, Related pulled the Gateway Tower plan. The next year, it unveiled a different idea: The Restoration Hardware furniture gallery, which opened last year.

Merin said Related, at some point, will need to decide whether it’s going to rely on pre-leasing to clinch a decision to build 360 Rosemary, “or if they’re going to build it anyway.”

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NAI Global Ranked Among Top Five Commercial Real Estate Brand in the 17th Annual Lipsey Survey

NAI Global, a leading, global commercial real estate firm, earned the top four spot in the 2018 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify the top global brands. NAI Merin Hunter Codman based in Palm Beach County, Florida is a Member of NAI Global, serving southeast Florida.

The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry to equip organizations and their practitioners with the skills necessary to succeed in today’s competitive environment. The 2018 survey results can be found here.

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South Florida Makes Amazon’s Top 20

Amazon has released the Top 20 potential locations to open up their second headquarters… and South Florida made the cut. Neil offered his opinion and was quoted in two different articles relating to the possible locales.

Bookie calls South Florida long shot in Amazon HQ2 contest – Palm Beach Post article
“While I’m a big booster of Palm Beach County, I think Palm Beach County is kind of like what Greenwich, Connecticut, is to New York,” Merin said. “We’re a nice suburban area. If you’re looking for transportation and people, you have to look to southern Broward or somewhere in Miami-Dade.” / CLICK HERE to read the full article.

Where are South Florida’s 8 Amazon headquarter sites? Real estate experts identify potential candidates – Sun Sentinel article
The new site also depends, in part, on whether Amazon wants to go “urban or suburban,” said Neil Merin, principal of NAI/Merin Hunter Codman, a commercial brokerage and construction management company in West Palm Beach. He said Miami-Dade has the capacity to develop 50-story buildings, while Broward would have to be “creative” with developed space, as vacant land is scarce. If Amazon’s desire is “to be interactive with Latin America,” Miami is the likely spot for the headquarters, Merin said. “But one thing that’s good about Palm Beach County is we have a lot of housing coming online,” he added. “We have approved some 15,000 new units.” / CLICK HERE to read the full article.

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