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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

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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.

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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.

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Hot Off “The Press”!

Out with the Palm Beach Post (campus) and in with The Press

— NAI/Merin Hunter Codman tapped to manage and lease former 300,000 square foot Palm Beach post campus. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, is proud to announce the property management and leasing assignment of The Press, the former 300,000+ square foot, 11.4-acre Palm Beach Post campus located at 2751 S Dixie Highway in West Palm Beach. Tricera Capital acquired the campus for $24 million from Palm Beach Post Newspapers, an affiliate of Cox Media Group in early March 2019.

Tricera Capital, headed by Scott Sherman and Ben Mandell plans to transform the campus, now titled The Press, into a unique and innovative retail, entertainment and office space experience. The Press will consist of two concepts. The property’s warehouse component will be converted into The Shops at The Press and the office building will be transformed into The Workspace at The Press.

“Scott and Ben of Tricera Capital have vision, determination and knowhow. They are experienced redevelopers who successfully identify and develop unique and inspiring projects in sometimes older, over looked areas. Areas that are rich in history with properties that are begging for their unique stories to be told. NAI/Merin Hunter Codman is honored to partner with Tricera, to tell the story of The Press”, 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 Commercial Associates Christopher T. Smith and Jaime Chamberlin. To learn more about leasing opportunities please call 561-471-8000. 

CLICK HERE to view the full Press Release

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NAI/Merin Hunter Codman Partners with BDB to Facilitate Economic Development Efforts

Palm Beach County, FL – In collaboration with city, county, and state partners, the Business Development Board (BDB) works to leverage the County’s extraordinary assets by promoting the expansion of existing businesses and attracting new ones to the area. The BDB also receives support from hundreds of local companies, like NAI/Merin Hunter Codman, that invest in Palm Beach County’s economy through the BDB’s economic development efforts because they all have one powerful shared vision of the future. These combined efforts contribute to the prosperity of the County by providing quality jobs for our citizens, fostering economic growth and delivering a vibrant community that is a premier business destination.

The power of partnerships in Palm Beach County is so strong and assists the BDB’s mission of attracting and retaining jobs and businesses in Palm Beach County. This has a return of investment in better infrastructure, a top-notch workforce, and a higher quality of life for everyone. There are also 20 industry specific task forces, 30 events, and dozens of initiatives that are facilitated each year to bring academia and business leaders together.

Just within the past five years, the BDB has assisted companies that have created more than 12,822 direct jobs with average salaries greater than $69,062, resulting in more than $777 million in capital investment to Palm Beach County and an economic impact that exceeds $6.87 billion.

Kelly Smallridge, President and CEO of the Business Development Board said, “Our private business investors recognize that a vibrant economy benefits the residents and businesses in Palm Beach County, providing increased tax revenues, good quality jobs, and creating new economic activity with long-lasting prosperity for all.”

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NEWS PICK-UPS: Toys “R” Us Building Sale in Royal Palm Beach


A few media organizations have picked up our Press Release on the recent sale of the Former Toys “R” Us building at 450 S State Road 7.

The Real Deal: View PDF | View Article

Palm Beach Post: View PDF | View Article

South Florida Business Journal: View PDF | View Article

BDB: View PDF | View Article

CRE Sources: View PDF | View Article

PBC Chamber of Commerce: View PDF | View Article

Boca Chamber: View PDF | View Article

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PRESS RELEASE: Former Toys “R” Us Building in Royal Palm Beach Sells for $15,800,000

— NAI/Merin Hunter Codman represents buyer in the purchase of a vacant 55,962 square foot retail box. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman Managing Directors, Barbara LeBrun, SIOR and Lesley Sheinberg represented a confidential buyer in the $15,800,000 purchase of 450 S State Road 7 in Royal Palm Beach. The 55,962 square foot retail property, built in 2012, traded for $282.33 per square foot. Ross Waters, Principal of Atlantic Realty represented the seller Treeco/Soder Royal Palm LLC who purchased the property in 2015 for $13,000,000 when the building was 100% leased to Toys “R” Us. The June 2018 closing of the iconic Toys “R” Us chain left a gaping 28.6 million square foot vacancy in the U.S. retail market. The company owned or leased 23 properties in the South Florida Tri-County market, ten of which were in Palm Beach County, most of which currently stand empty and are available for redevelopment.

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NAI/Merin Hunter Codman Announces 2018 Broker of the Year

– Lesley Sheinberg wins her second Broker of the Year award from top South Florida commercial real estate firm, NAI/Merin Hunter Codman –

West Palm Beach, FL – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate firms, is pleased to announce that Managing Director, Lesley Sheinberg has been named its 2018 Broker of the Year.

This is the second Broker of the Year award for Ms. Sheinberg who is also is a multiple time CoStar Group, Inc, Power Broker Award winner.  She has represented institutional and private equity commercial real estate clients for over 20 years and is one of Palm Beach County’s leading medical office and healthcare real estate specialists. Ms. Sheinberg has completed over 1,000,000-square feet of lease transactions and in excess of $20 million of investment sales.

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PRESS RELEASE: J.G. WENTWORTH HOME LENDING IS EXPANDING TO 951 YAMATO

— NAI/Merin Hunter Codman represented the owner, 951 Yamato Acquisition Company LLC an affiliate of Brookwood Financial Partners, LLC, in the 10,661-square-foot transaction. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to welcome J.G. Wentworth Home Lending LLC to 951 Yamato. J.G. Wentworth Home Lending LLC, a direct mortgage lender, is expanding into 10,661 square feet at 951 Yamato Road, Boca Raton, FL. Jay M. Grossman, President and Director, Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC. Tom Farmer, Vice-President of Office Leasing at Colliers International represented the tenant.

Due to a successful repositioning of their business model, poised to capture a larger portion of the purchase market sector, J.G. Wentworth Home Lending had outgrown its existing 7,000-square-foot office space. Assistant Vice President, Direct Lending, Evan Pruzan of J.G. Wentworth Home Lending stated, “We toured the Boca Raton market for six months with sights set on finding a Class-A office building, packed with amenities, which offered an above standard parking ratio. 951 Yamato met and exceeded our requirements. The building is a perfect fit and the perfect location to achieve our recruiting and retention objectives.”

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PRESS RELEASE: NAI/Merin Hunter Codman Executes $2,725,000 Sale of Vacant Former CVS in Boca Raton

— Chairman, Neil E. Merin, SIOR, CCIM and Principal, Spencer S. Grossman represented the seller, Kimberly Estates II, LLC, in the 11,200-square-foot transaction —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, would like to congratulate its Chairman, Neil E. Merin, SIOR, CCIM and Principal, Spencer S. Grossman on the $2,725,000, $243 per square foot, sale of 10055 Yamato Road in Boca Raton. NAI/Merin Hunter Codman represented the seller, Kimberly Estates II LLC in the sale of the 11,200-square-foot former CVS building constructed on 1.30 acres. Andy Mandel a Broker with RE/MAX Advisors represented the purchaser, Nexgen Legacy Group LLC.

NAI/Merin Hunter Codman Principal, Spencer S. Grossman reported, “Our client, which had owned the property for nearly 12 years, was ready to dispose of the asset as it no longer fit their investment criteria. The day the property hit the market multiple offers were received and we were able to negotiate a great deal for our client. The property traded for just under the asking price as it is rare to find well-built buildings on hard corners in Boca Raton.”

Neil E. Merin, SIOR, CCIM, Chairman of NAI/Merin Hunter Codman added, “Maximum asset value, despite vacancy, is the highlight of this transaction. Through NAI/Merin Hunter Codman’s three decades of local market expertise we were able to correctly price and position the asset which ultimately allowed us to find the right buyer.”

The purchaser, Nexgen Legacy Group, LLC, plans to convert a portion of the property for its own businesses and build-out an executive suite operation in the remainder of the space.

CLICK HERE to view the full release.

About NAI/Merin Hunter Codman
NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate services firms with 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. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private equity investors. Operating as part of the NAI Global network, NAI/Merin Hunter Codman can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach, Florida with regional offices in Boca Raton, Fort Lauderdale, Palm Beach Gardens and Wellington.

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