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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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

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NEWS PICK-UPS: The Workspace at The Press

A few media organizations have picked up our Press Release on the firm’s new property management and leasing assignment of The Press, the former ±300,000 SF Palm Beach Post campus located at 2751 S Dixie Highway in West Palm Beach.

CRE-Sources: View PDF | View Article

Business Development Board of Palm Beach County: View PDF | View Article

Boca Raton Chamber: View PDF | View Article

Chamber of Commerce of the Palm Beaches: View PDF | View Article

BOMA: View PDF | View Article

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PRESS RELEASE PICK-UPS: 951 Yamato / PBC’s Largest Transaction of 2018

Several media organizations have picked up our Press Release on the TherapeuticsMD lease transaction at our 951 Yamato property in Boca Raton. The deal is the largest lease transaction in Palm Beach County for this year.

CoStar Group – View PDF | View Article

South Florida Business Journal – View PDF | View Article

Sun Sentinel – View PDF | View Article

CRE-Sources – View PDF | View Article

Boca Chamber – View PDF | View Article

Chamber of Commerce Palm Beaches – View PDF | View Article

DBR – View PDF | View Article

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NEWS ARTICLE: The race for space in West Palm Beach

Neil was quoted in the below article, written by Mike Seemuth of The Real Deal.

Real estate executive and Miami Dolphins owner Stephen Ross scored the most recent victory in the battle of billionaires looking to build high-rise office projects in downtown West Palm Beach. Ross was on an apparent collision course with Jeff Greene, real estate investor and former candidate for governor of Florida, but it appears that New York-based Related Companies, led by Ross, has won out — for now.

In reaction to the August news that part of the downtown would be upzoned, thereby allowing Related to proceed with a 25-story office project called One Flagler, Greene shelved his One West Palm project, citing an “uncertain zoning climate.” The city-approved project was a mix of office space, hotel rooms and apartments in two 30-story buildings, designed by Miami-based Arquitectonica.

The cancellation of Greene’s project seems to have exposed limits to commercial development in the central business district of West Palm Beach, despite local efforts to recruit out-of-town employers.

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PRESS RELEASE: Downtown Ft. Lauderdale Office Tower, 1 East Broward, Trades for $108,500,000

–CBRE structures sale and financing of iconic Class A office tower to a joint venture between NAI/Merin Hunter Codman and Pacific Coast Capital Partners–

West Palm Beach, Fla. – 1 East Broward Owner, LLC, a joint venture between affiliates of NAI/Merin Hunter Codman and PCCP, LLC has acquired 1 East Broward, a Class A office tower in downtown Fort Lauderdale for $108,500,000.

The CBRE Capital Markets team facilitated the sale of the 19-story, 351,705 square foot, institutional-quality office building on behalf of the seller, Ivy Realty. Additionally, the CBRE Debt & Structured Finance team arranged acquisition financing of $77,465,500 with SunTrust Bank on behalf of the buyer. Vice Chairman, Christian Lee and Senior Vice President, José Lobón of CBRE oversaw the transaction on the sale effort, and First Vice President, Amy Julian oversaw the financing for CBRE working with Chief Financial Officer Dung Lam and Acquisitions Director Corey Winsett on behalf of NAI/Merin Hunter Codman. The CBRE team also included Senior Financial Analyst, Andrew Chilgren. Rebecca M. Cox, SunTrust Senior Vice President, provided the financing. Kapp Morrison LLP provided legal counsel to the seller and Shutts and Bowen provided legal counsel to the buyer.

The property is located on the northeast corner of Broward Boulevard and Andrews Avenue, in the heart of Fort Lauderdale’s rapidly expanding downtown, across from the new Brightline Rail Station. The 91% leased property includes a 19-story building and a 5-story building that are connected by a covered sky bridge to a 4-story parking structure that provides the office tenants with 772 covered parking spaces. The Property recently received an extensive renovation with over $4.9 million invested since the beginning of 2013 and serves as the new U.S. headquarters for KEMET Corporation, a leading publicly traded global supplier of electronic components. KEMET recently relocated its corporate headquarters from Greenville, SC to 1 East Broward bringing 150 additional jobs to the Fort Lauderdale CBD. KEMET joins several leading law firms who have corporate and regional headquarters at 1 East Broward including Becker & Poliakoff, Quintairos, Prieto, Wood & Boyer, P.A., McGlinchey Stafford and Hinshaw & Culbertson LLP.

Press Releases Transactions

PRESS RELEASE: Smart, Green and Gold, that’s 951 Yamato

951 Yamato undergoes a series of property improvements, earning the US Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR rating

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, announced the acceptance of the U.S. Environmental Protection Agency’s (EPA’s) prestigious ENERGY STAR on behalf of 951 Yamato, a 146,000-square foot, Class-A office building located in Boca Raton. By meeting these strict standards, 951 Yamato is saving energy, saving money and helping protect the environment by generating fewer greenhouse gas emissions than typical commercial buildings.

Energy efficiency and reducing tenant overhead costs were at the forefront of 951 Yamato’s recently completed million-dollar property improvement program which included environmental sensitive upgrades such as changing all common area lighting to LED and installing electric smart car charging stations for tenant and visitor use. A partial list of additional property improvements include: modern white, gray and striking gold exterior paint, new monument signage, new carpet and furniture in both the east and west entrances, as well as new tables and chairs in the soaring two-story, 8,000-square foot atrium where tenants can be found hosting events, taking informal meetings and gathering for lunch. A state-of-the-art shared tenant conference room is also being constructed at 951 Yamato.

Press Releases

Need a big box? Four empty PBC retail spaces fit the bill

Article by Jeff Ostrowski – Palm Beach Post Staff Writer

Entrepreneur Hannah Wickins scoured Palm Beach County for space suitable for the indoor pet park that she calls “Disney World for dogs.” She settled on the long-empty Home Depot Expo at Woolbright Road and Interstate 95 in Boynton Beach. Wickins signed a bargain lease for 20,000 square feet for her Dog Activity World Group.

“It was a very desolated plaza,” Wickins said. “But the location had potential. I knew it was only a matter of time before that plaza turns around.”

Indeed. The former Home Depot Expo space has sat empty for nearly a decade. But in a recent flurry of activity, Wickins leased the 20,000 square feet at the south end of the property, and Illinois-based retailer Camping World this spring bought the other 88,000 square feet for $8.25 million.

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