PRESS RELEASE: NAI/Merin Hunter Codman Completes 144,000 SF of Leasing at West Palm Beach’s Centrepark Office Buildings

— Centrepark West occupancy reaches 98% —

West Palm Beach, Fla. – Palm Beach County’s leading commercial real estate services firm, NAI/Merin Hunter Codman, Inc., has completed 144,000 square feet of lease transactions on behalf of Colonnade Centrepark East, LLC and Colonnade Centrepark West, LLC, within Colonnade’s first year of ownership.

The nine-building portfolio totaling 479,145 square feet of office space, located within Centrepark East and Centrepark West, was acquired in November 2016 by Colonnade Properties and affiliates of Grace Development and Flagler Realty. NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM marketed the property on behalf of the seller, JP Morgan Asset Management, Colonnade and partners were selected as the purchaser who post purchase retained NAI/Merin Hunter Codman as they valued the leasing potential executed by NAI/Merin Hunter Codman.

Today Centrepark West’s occupancy rate is 98%, up from the 80% reported at the time of purchase. Together, Mr. Merin and NAI/Merin Hunter Codman Commercial Associate, Shelbi Quinn successfully negotiated many deals on behalf of the owner, the largest transactions include:

• SV Microwave, Inc. and affiliate Times Microwave Systems, Inc. have executed 68,091 square feet of leases at 2301 and 2400 Centrepark West Drive
• Seacrest Services executed a 13,560-square foot, 10-year lease, at 2101 Centrepark West Drive
• Brown & Brown of Florida executed a 11,970-square foot, 10-year lease, at 1661 Worthington Road

CLICK HERE to read the full press release.

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PRESS RELEASE: Palm Beach International Plaza Begins Aggressive Property Improvement Plan

NAI/Merin Hunter Codman is Awarded the Property Management and Leasing Assignment of Palm Beach International Plaza

West Palm Beach, FL. – Palm Beach County’s leading commercial real estate services firm, NAI/Merin Hunter Codman, Inc. has been retained by local investor, Belvedere Acquisition, LLC, to oversee the renovation and rebranding of Palm Beach International Plaza, a 111,000-square- foot office complex strategically located across from the Palm Beach International Airport, at 1601 Belvedere Road, in West Palm Beach, Florida. In July of 2017, Belvedere Acquisition, LLC purchased the property from 1601 Belvedere Road Holdings, who had held the property on behalf of a CMBS trust.

NAI/Merin Hunter Codman has been retained to oversee leasing, property management and construction management of the property. Renovation plans include repainting of the towers, main entrance upgrades, enhanced lighting, fresh landscaping, a lobby makeover and new digital tenant directories. NAI/Merin Hunter Codman will be offering a variety of suites from 1,200 to 45,000 square feet, including several move-in ready spec suites, as well as efficient and flexible large blocks of customizable space.

Principal, Jason L. Sundook, SIOR and NAI/Merin Hunter Codman’s newest Commercial Associate, Christopher T. Smith will be leasing the property. “The momentum and pre-upgrade leasing has been tremendous! The complex improvements coupled with the recent announcement of a significant renovation of the adjacent Embassy Suites’ hotel which will be offering complimentary and discounted hotel amenities to Palm Beach International Plaza’s tenants have resulted in a wave of tours and leasing activity,” touted Mr. Sundook.

CLICK HERE to read the full press release.

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PRESS RELEASE: Barbara LeBrun, SIOR of NAI/Merin Hunter Codman is Elected to Leadership Palm Beach County 2017-2018 Board of Governors

West Palm Beach, Fla. – – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is proud to announce, Managing Director, Barbara LeBrun’s 2017-2018 elected appointment to Leadership Palm Beach County’s Board of Governors.

Since 1983, Leadership Palm Beach County, a nonprofit organization, has brought together select leaders from the public, private and nonprofit sectors to deepen their civic commitment and awareness of diverse issues and industries. Over the course of a year, Leadership program participants spend one full-day a month together traveling across Palm Beach County with exclusive access to courtrooms, newsrooms, schools, farms, major businesses and to the top executives who run the industries that drive Palm Beach County’s economy. Participants of this unique program gain a deep understanding of the region and build lasting bonds with their fellow Leadership class mates by working together on meaningful local projects. Upon completion of the program, alumni then become a powerful network which shapes the curriculum for future participants and continue to work together in the community to tackle issues affecting Palm Beach County residents.

“For over three decades, NAI/Merin Hunter Codman has been a leader in both Palm Beach County commercial real estate and civic involvement. Our success is largely due to the firm’s belief that only through civic leadership can NAI/Merin Hunter Codman’s partners, brokers and staff gain a deep empathy and understanding of the community and market in which they serve. Barbara LeBrun, SIOR encapsulates this belief. I congratulate Barbara and her accomplishment, it is an honor to work closely with someone of her caliber, who is truly dedicated to the success of Palm Beach County“, stated Jordan Paul, CEO of NAI/Merin Hunter Codman.

CLICK HERE to view full release.

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PRESS RELEASE: Eliot H. Goldstein joins NAI/Merin Hunter Codman as a Commercial Real Estate Associate

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is proud to welcome Eliot H. Goldstein as a Commercial Associate.

Mr. Goldstein, who holds a Bachelor’s of Science and a Master’s of Science degree in Mechanical Engineering from Florida State University, will be working with NAI/Merin Hunter Codman Principal Spencer Grossman on a variety of commercial investment and leasing assignments specializing in retail and industrial properties. Mr. Goldstein joins NAI/Merin Hunter Codman following two years with a local commercial real estate firm where he was instrumental in completing several million dollars of transactions. Prior to working in the commercial real estate industry Mr. Goldstein enjoyed a successful eight-year engineering career at Lockheed Martin.

“NAI/Merin Hunter Codman is excited to welcome Eliot Goldstein to our team. His drive, discipline, and passion for the commercial real estate industry will be a great benefit for our clients”, stated Jordan Paul, CEO of NAI/Merin Hunter Codman.

CLICK HERE to view the full release.

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PRESS RELEASE: NAI/Merin Hunter Codman Named #1 Property Management Firm and #4 Commercial Real Estate Firm in Palm Beach County

NAI/Merin Hunter Codman is recognized by both Costar Group and the South Florida Business Journal

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, has been recognized by the South Florida Business Journal’s 2017 Book of Lists as the #1 Property Management Firm and #4 Commercial Real Estate Brokerage Firm in Palm Beach County. In addition, the firm will be receiving its 12th consecutive Top Leasing and 10th Top Sales Firm CoStar Power Broker Awards. Neil E. Merin, SIOR, CCIM, Chairman of NAI/Merin Hunter Codman, will receive his 13th consecutive Top Leasing Power Broker Award.

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PRESS RELEASE: NAI/Merin Hunter Codman Nominated for Two NAIOP Awards of Excellence, Largest Office Transaction of the Year and Office Renovation of the Year

3West Palm Beach, FL – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to announce that the firm was recently nominated for two NAIOP South Florida 2016 Awards of Excellence. The firm was nominated for Office Renovation of the Year as well as the Largest Transaction of the Year. NAIOP South Florida’s annual awards highlight individuals and companies whose achievements have contributed to the local commercial real estate industry, benefitted the regional business environment and facilitated economic growth.

NAIOP South Florida nominated NAI/Merin Hunter Codman for Office Renovation of the Year, recognizing the firm’s leasing, construction and property management divisions for the renovation of Fountain Square, a three building, 241,000 square foot office complex in Boca Raton. The nomination recognized NAI/Merin Hunter Codman’s success in renovating the property and creating significant value following its purchase from an institutional owner in an “off market” transaction. Occupancy at the time of purchase was 59%. Following the purchase, NAI/Merin Hunter Codman was retained to implement a $3,000,000 capital improvement program to modernize the building on behalf of the new owner. A partial list of improvements included: repainting and re-branding the buildings, refurbishing its signature centerpiece fountain, window replacement/re-tinting, renovating the on-site café, restriping and resealing the building parking lot and reroofing. An aggressive leasing plan was then implemented which resulted in over 50,000 square feet of new leases at rents that were up to 40% higher than those achieved pre-renovation. Net Operating Income has doubled since acquisition and the estimated property value has increased by over 50%.

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PRESS RELEASE: Neil E. Merin & Jason L. Sundook of NAI/Merin Hunter Codman Complete Five of the Largest 100 Office Transactions on SIOR’s Global List

top-100-office-transactions-2016-1.jpgWashington, DC. – The Society of Industrial and Office Realtors (SIOR) is pleased to announce its Top Transactions Award Winners of 2016. The Top Transaction Awards list is a compilation of the largest sales and lease transactions, ranked by dollar value, completed by SIOR members throughout the world. The awards were derived from nearly 650 SIOR members who reported close to 2,000 transactions totaling more than USD $8.6 billion in leases and sales in categories including: industrial, investment, office, land, alternative assets, associate, and redevelopment.

The Top Transaction Awards includes the 2016 Top 100 Office deals. NAI/Merin Hunter Codman led the list and tied one other agency for the largest number of Top 100 transactions. Neil E. Merin, SIOR and Jason L. Sundook, SIOR, both principals with the firm, combined to complete five of the 100 largest office transactions on SIOR’s global list. The SIOR list of 2016 Top 100 Office Deals totaled an impressive 12,343,138 square feet of office sales and leases from around the world. “We are thrilled that some of the largest office transactions tracked by SIOR were completed in South Florida and by our office” said Neil E. Merin, Chairman of NAI/Merin Hunter Codman.

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