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.
— NAI/Merin Hunter Codman has been retained for the management and NAI Lachicotte for the leasing of the property. —
West Palm Beach, Fla. – MHCommercial Real Estate Fund, a real estate investment fund recently launched by principals of leading South Florida Commercial Real Estate firm NAI/Merin Hunter Codman, has announced the completion of its second acquisition, Prince Creek Village located at 11920 SC Highway 707, Murrells Inlet, South Carolina, a fast-growing suburb of Myrtle Beach.
Prince Creek Village is a 92% occupied 18,000-square foot, Publix shadow-anchored commercial center built in 2017. The property’s tenants include Edward Jones Financial Advisory, Tidelands Health Family Medical Center and a number of popular local restaurants. The property was purchased from Columbia Properties, Inc. for $4,850,000. LoanCore Capital provided financing for MHCommercial Real Estate Fund.
Jordan Paul, Principal of MHCommercial Real Estate Fund stated, “We are excited to close our second investment this month for MHCommercial Real Estate Fund. Prince Creek Village aligns well with our goal to invest in well-located, high-quality commercial properties with strong economic and demographic growth in the Southeastern United States. Prince Creek Village enjoys an outstanding location adjacent to a new Publix grocery store in one of the most affluent communities in the fast-growing Myrtle Beach metropolitan area. Our affiliation with the NAI Global network gave us outstanding insight into the local market and the property’s strong tenant base includes a diverse mix of popular local medical, financial service businesses and restaurants which will provide our investors with immediate cash flow and the opportunity to realize additional value as the area continues to grow.”
NAI/Merin Hunter Codman has been retained to manage the property and Myrtle Beach-based NAI Lachicotte has been retained to lease the property.
CLICK HERE to view the full Press Release.
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!
West Palm Beach, Fla. – MHCommercial Real Estate Fund, a real estate fund recently launched by principals of leading South Florida Commercial Real Estate firm NAI/Merin Hunter Codman, has announced that its affiliate has acquired 2601 Oakland Park Boulevard, a 60,000 square foot office building located at 2601 East Oakland Park Boulevard in Fort Lauderdale, Florida.
The property was purchased for $11,750,000 or $196 per square foot. KeyBank provided financing for MHCommercial Real Estate Fund and attorney Stuart Kapp of Kapp Morrison represented MHCommercial Real Estate Fund in the transaction.
Dung Lam, Principal of MHCommercial Real Estate Fund stated “We are very pleased that the first purchase of the Fund is a first-class office building with an outstanding location in the dynamic Fort Lauderdale market. Additionally, 2601 Oakland Park has recently been completely renovated offering its tenants one of the area’s highest quality professional office environments. This premier property is located in the high-end Coral Ridge neighborhood, just minutes from all of the exciting development in downtown Fort Lauderdale. This acquisition provides our investors with strong immediate cash flow and a significant opportunity for value creation as Fort Lauderdale establishes itself as a 24/7 gateway city with a vibrant live/work/play environment.”
NAI/Merin Hunter Codman has been retained to manage and lease the property. To learn more about leasing opportunities please contact Maxwell Pawk at 561-471-8000.
Click here to view the full press release.
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.
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.
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.
West Palm Beach, Fla. – NAI/Merin Hunter Codman, one of South Florida’s leading commercial real estate firms, has completed nearly 33,000-square-feet of lease transactions at 1EBroward on behalf of 1 E Broward Owner, LLC, who purchased the property in the fourth quarter of 2018. The property is a Class-A, 19-story, 351,705 square foot downtown Fort Lauderdale professional office building.
NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM who leases the property with Associate, Maxwell Pawk stated, “It is no secret the downtown Broward office market is exploding. 1 E Broward is located on the hard corner of Andrews Avenue and Broward Boulevard, a short walk, Uber or scooter ride from the Brightline station. Its location is what drives interest in the property. It is the first-class amenities, like the property’s shuttle service, concierge and state-of-the-art fitness center that allow the property to edge above its competition.”
Recent lease transactions include:
- 17,000 SF lease renewal to national law firm, Hinshaw Culbertson
- 7,000 SF lease to Mystic Cruise Lines, the Portuguese cruise expedition company’s US headquarter location
- 5,200 SF lease to information and technology company, Beesion Technologies
- 2,200 SF lease to national general contractor, Falcon Construction
- 1,400 SF lease to law firm Slatkin & Reynolds
Hats off to Neil E. Merin, SIOR, CCIM and Jason L. Sundook, SIOR who represented the buyer in the $8.5 million sale of Commerce Pointe Gold, a 99% occupied, 43,433 SF office building at 1800 S Australian Avenue in West Palm Beach. The property previously sold for $4.3 million in 2011.
Commerce Pointe Gold is adjacent to I-95 and minutes from everything that downtown West Palm Beach has to offer including Brightline, Rosemary Square and the Flagler Financial District, offering an ideal location for Palm Beach County professionals.