PRESS RELEASE: MHCommercial Real Estate Fund Acquires 2601 Oakland Park Boulevard for $11,750,000

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.

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PRESS RELEASE: Strong Investor Demand and Southeastern Growth Results in Launch of MHCommercial Real Estate Fund I

West Palm Beach, Fla. – The principals of NAI/Merin Hunter Codman announced today the closing of its initial private real estate fund, MHCommerical Real Estate Fund I. NAI/Merin Hunter Codman is a 35-year old commercial real estate firm based out of West Palm Beach that has acquired over $300 million of commercial real estate projects over the last five years. Its principals Neil E. Merin, SIOR, CCIM, Jordan Paul and Dung Lam have combined with Joseph Sprouls, the former global head of commercial real estate services for CitiGroup and MetLife, to launch the Fund based on strong demand from its investors seeking institutional-quality commercial real estate investments in Florida and the fast-growing Southeastern United States. Former Torchlight and LNR Property Asset Manager Corey Winsett has joined the Fund as Director of Acquisitions and Asset Management.

A diverse group of more than 50 limited partners committed to MHCommercial Real Estate Fund, including high net worth individuals and family offices. MHCommercial Real Estate Fund will focus on strong cash flowing office, retail, industrial and multifamily properties in the fast-growing Southeastern United States and expects to acquire between $150 and $200 million of property over the next 12 months through a combination of direct investments and joint ventures with institutional partners.

“We are excited about the launch of our Fund and grateful for the strong support that we have received from our investors,” said Jordan Paul, principal of MHCommercial Real Estate Fund. “We see tremendous long-term growth opportunities in Florida and the Southeast. Our real estate and capital markets experience combined with our affiliation with NAI Global, which has over 375 offices with unparalleled local market expertise in Florida and the Southeast, will provide our investors with unique access to investment opportunities along with institutional quality management.”

Click here to view the full release.

Press Releases

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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Hurricane Checklist for Tenants

Establish a working plan and have it in place in case of a hurricane.

BE PREPARED TO:

  • SAFEGUARD COMPANY RECORDS AND IMPORTANT PAPERS
    A. Make duplicates to take with you, to overnight express to a branch office, or to put in a bank.
    B. Move all records away from windows, preferably into a room without any windows.
    C. If you are on the first floor, place valuable papers, records, files, etc. one to two feet off the floor (in case of flooding).
    D. If possible, cover with large plastic bags or vinyl sheeting for additional security.
    E. In the event of an extended building closure, arrangements should be made to remove files and key equipment prior to the storm’s landfall.
General Property Management

Celebrate National Dog Day with MHC’s Own Dog Whisperer: Jo-Ann

Happy National Dog Day! Today celebrates all breeds, pure and mixed, and serves to help galvanize the public to recognize the number of dogs that need to be rescued each year, either from public shelters, rescues and/or pure breed rescues.

National Dog Day honors family dogs and dogs that work selflessly to save lives, keep us safe and bring comfort. Dogs put their lives on the line every day – for their law enforcement partner, for their blind companion, for the disabled, for our freedom and safety by detecting bombs and drugs and pulling victims of tragedy from wreckage.

Jo-Ann, a Property Administrator at MHC, is an avid dog lover and rescuer who currently has 17 dogs. No typos – you read that right, 17. She started rescuing dogs around 15 years ago, with a goal to take them in as fosters on their way to finding a fur-ever home.

“Sometimes you come across a foster that you can’t bear to give up, and that’s why I’m considered a “foster failure”, but that’s perfectly okay! That just means that you’ve given an abused, abandoned dog an incredible home to live out the rest of his/her years – and that’s always the ultimate goal of any rescue!

I am fortunate to have a wonderful husband that shares my passion and the work that goes into it. There’s ALWAYS room for one more dog in the pack … and failing isn’t always a bad thing! 😉”

Rescuing and caring for dogs is Jo-Ann’s biggest passion and her only regret is that she didn’t start sooner.

“My only hope is that when I am gone, there will be someone to take my place. My promise to that person is this – I will be with you in spirit from wherever one goes when the breath leaves the body. Because I will ALWAYS be a rescuer, even when I am just a memory.”

Kudos to you Jo-Ann, and to all other dog lovers on this National Dog Day!

We’ve had the pleasure of volunteering with Big Dog Ranch Rescue, a local leader in the field. Click here to see their efforts and how you can help!

General

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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