CLICK HERE to view the July – September 2019 Sales & Lease Transactions for the firm.
The Press: Former Palm Beach Post Building Redevelopment
The news is out! The former Palm Beach Post building is being redeveloped into The Press: Palm Beach’s new, vibrant work-play destination.
This unique destination has a rich history as the former Palm Beach Post campus and is being redeveloped into an innovative lifestyle center complete with offices, shops, and an organic grocer. Workplaces at The Press offers contemporary offices with stunning common areas and flexible work and meeting spaces, including its own lounge and free Wi-Fi.
The Press enjoys a premier location near the booming downtown West Palm Beach area. This convenient spot is a short drive from Antique Row, CityPlace/Rosemary Square, the Clematis and Flagler Financial Districts, the Island of Palm Beach, Palm Beach Outlets, the Palm Beach International Airport and everything in between.
View the flyer and call Neil Merin, Chris Smith or Jaime Chamberlin today at 561-471-8000 to learn more about unique office space for lease at Workplaces at The Press in West Palm Beach.
NEWS PICK-UPS: MHCommercial Acquires Myrtle Beach Retail Center
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.
CoStar: View PDF | View Article
ICSC: View PDF | View Article
CP Executive: View PDF | View Article
Business Development Board of Palm Beach County: View PDF | View Article
Boca Raton Chamber: View PDF | View Article
MHCommercial Real Estate Fund Acquires Publix Shadowed Anchored Shopping Center in Myrtle Beach MSA for $4,850,000
— 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.
Neil Merin and Firm Nominated for 2019 SFBJ Structures Awards
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!
NEWS PICK-UPS: MHCommercial Real Estate Fund & 2601 Oakland Park
A few media organizations have picked up our Press Release on the launch of the firm’s real estate fund, MHCommercial Real Estate Fund I, and the fund’s first purchase of 2601 Oakland Park Blvd.
CRE News: View PDF | View Article
CoStar: View PDF | View Article
South Florida Business Journal: View PDF | View Article
The Real Deal (Fund): View PDF | View Article
The Real Deal (2601 Bldg): View PDF | View Article
CP Executive: View PDF | View Article
BDB Palm Beach County: View PDF | View Article
CRE-Sources: View PDF | View Article
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.
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.
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. | View PDF of SIOR Member News Announcement.
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.