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PRESS RELEASE: Lockdowns Have Not Locked Up Commercial Real Estate Transactions

— Two of NAI/Merin Hunter Codman’s commercial real estate experts discuss what it takes to close transactions during the COVID-19 pandemic. —

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Palm Beach County’s leading commercial real estate firm, acknowledges that commercial real estate transaction activity has slowed throughout the first six months of the COVID-19 pandemic but the firm notes that it has not been locked down entirely. Two of the firm’s seasoned veteran brokers, retail expert Bruce Corn and office market specialist Adam Starr, have successfully completed nearly $10,000,000 in lease and sale transactions while most of South Florida’s shelter-in-place mandates remain in place. The secret to their success has been what they have always done… servicing their long-time clients with updated market intelligence and creative deal making options.

Bruce Corn

Long-time office veteran Adam Starr and retail expert Bruce Corn represent two different commercial real estate market sectors, but they have two things in common – expertise in navigating positive and negative market cycles, as well as long-term, trusted client relationships.

Local office market expert, Adam Starr, who joined NAI/Merin Hunter Codman in January 2020, just six weeks prior to the pandemic shutdown, has facilitated transactions in excess of $5.4 million on behalf of his clients, completing lease transactions in excess of $4.5 million and one building sale in Jacksonville, on behalf of a long-time local client, for $910,000, completed just last week.

Adam Starr

Bruce Corn, who has led NAI/Merin Hunter Codman’s retail services for nearly 30 years, has completed both sales and lease transactions totaling over $5.5 million on behalf of his clients.

Brokerage Press Releases Transactions

Neil Merin Named 2020 Power Leader in Real Estate – 3rd Year in a Row!

The following is an excerpt from the original article which can be found here.

Ever since South Florida was pioneered in the 1800s, real estate has shaped the region’s economy. More than 100 years later – through depressions, recessions, and economic tumult – that continues to be the case.

The persistent force behind the local real estate market remains the property owners, developers and real estate brokers who power what remains a significant driver in the South Florida economy.

Though persistent, the individuals reflect the uniquely dynamic nature of South Florida’s real estate marketplace. While 39 are making at least their fifth appearance on the list, 15 are newcomers to the list. Most are frequently mentioned in the pages of the South Florida Business Journal, as they make their mark across the community.

As South Florida emerges from the fallout of recent events, these modern-day pioneers will be the ones who continue to shape the region’s economy and our future successes.

Brokerage News Articles

A Commercial Real Estate Starr Joins NAI/Merin Hunter Codman

Former CBRE First Vice President Adam Starr joins NAI/Merin Hunter Codman as Managing Director in the brokerage division.

West Palm Beach, FL – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate firms, is pleased to welcome South Florida commercial real estate expert, Adam Starr, to the firm’s brokerage team as Managing Director. Mr. Starr will be specializing in the sale and leasing of office and industrial properties throughout south Palm Beach and Broward counties.

Mr. Starr, a six-time CoStar Power Broker Award winner, brings over two decades of commercial real estate expertise to NAI/Merin Hunter Codman. Mr. Starr has successfully negotiated over 15,000,000 square feet of sales and lease transactions throughout South Florida for firms such as CBRE, Brenner Real Estate Group, and the Trammell Crow Company. Mr. Starr’s focus will remain in tenant and landlord representation, as well as investment sales.

“It is always a pleasure to welcome a seasoned, commercial real estate professional to our firm. Adam has successfully navigated a wide variety of transactions through all of South Florida’s market cycles. He is a well-liked and highly respected industry expert that is known for his market knowledge, tenacity, professionalism and absolute commitment to the highest level of service for his clients,” stated Jordan Paul, CEO, NAI/Merin Hunter Codman.

“I have done business with Adam many times over the years. He has developed a remarkable track record of creating value and attaining favorable financial returns for his clients. He is a very welcome addition and will be a true asset to the firm’s brokerage team,” stated NAI/Merin Hunter Codman, Chairman, Neil E. Merin, SIOR, CCIM.

Click here to view the full Press Release.

News Articles Press Releases

PRESS RELEASE: 1 E Broward’s Newest Tenants: Tech, Law, Construct & Cruise

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.

1 E Broward delivers Class-A Office Space in Downtown Fort Lauderdale

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

View the Full Press Release | 1 E Broward Website

Press Releases Property Management Transactions

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, http://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.

Press Releases

PRESS RELEASE PICK-UPS: 1 E Broward Sale

Several media organizations have picked up our Press Release on the sale of 1 E Broward. Details below:

South Florida Business Journal – View PDF | View Article

CoStar – View PDF

The Real Deal – View PDF | View Article

BOMA – View PDF | View Article

CRE Sources – View PDF | View Article

REBusiness Online – View PDF | View Article

South Florida Business Wealth – View PDF

Commercial Property Executive Online – View PDF | View Article

The News Funnel – View PDF | View Article

Newsmakers – View PDF | View Article

South Florida Business Journal (News in Brief) – View PDF

The Real Deal (South FL Office Market article) – View PDF

News Articles Press Releases Transactions

BROKER EVENT: Beer Tasting and Trivia Game Show

What’s better than beer and trivia? Try adding in local craft beer samples, prizes and bar bites! That was the thought for our “Brews and Buzzers” broker event at Centurion Tower in West Palm Beach on the evening of October 4th. NAI/Merin Hunter Codman hosted the event where area brokers toured spec suites, enjoyed our new digs, and were contestants in a custom trivia game show which included questions about the event and building details.

The event showcased available space at Centurion Tower, a 14-story Class-A office building on Palm Beach Lakes Blvd, just east of I-95. Newly completed spec suites are move-in ready and feature contemporary flair and flexible floor plans, with suites ranging from 1,422-2,394 SF. Click here for more details and call our office to schedule your showing today: 561 471 8000.

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