Q&A: NAI Chairman and South Florida Broker Neil Merin on Bubbies, Bubbas and Brightline

NAI/Merin Hunter Codman Exec Expresses Concern About Rise in Sublease Space

In the 1970s, Neil Merin was making $160 a week running a production line for a toy manufacturer in the Northeast when he quit to move to Palm Beach County for a property manager position that paid 10 percent more.

The new gig would be short-lived.

“The company I went to work for down here went out of business six months after I joined, so I went and got a real estate license and started selling properties in 1976,” he explained.

Merin would start West Palm Beach-based NAI / Merin Hunter Codman in 1982, and today he is one of South Florida’s longest-tenured commercial real estate brokers.

While he handles all aspects of the brokerage industry, his specialty is the sale and leasing of office and retail properties. Just in the past two decades, Merin has represented tenants and landlords in negotiations totaling more than 30 million square feet and values exceeding $7 billion.

News Articles

CCIM’s Biggest Deal & SIOR’s Top 10 & 100 Name NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM

Neil Merin-new-bioWest Palm Beach, FL – NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM, has been awarded CCIM’s Biggest Deal and named in SIOR’s Top 10 & 100 Office Transactions for the execution of 2017 office sales transactions. This is the second consecutive year Mr. Merin has received these honors after completing $315 million of sales transactions consisting of 2.4 million square feet over the last two years.

Each year SIOR (Society of Industrial and Office Realtors) selects the Top 100 Office Deals conducted by their members around the globe. Mr. Merin was awarded multiple placements in the Top 10 Office Sales Transactions of 2017 announcement and was listed four times in their Top 100 Office Sales Transactions of 2017 report.

“Neil is the premier Palm Beach County commercial real estate expert. His unwavering passion for this industry coupled with his devotion to the county is unmatched; it is my extreme pleasure to extend well-deserved congratulations to my partner and friend,” stated Jordan Paul, Chief Executive Officer of NAI/Merin Hunter Codman.

About SIOR
Headquartered in Washington, DC, the SOCIETY OF INDUSTRIAL AND OFFICE REALTORS(SIOR, www.sior.com) is a global professional organization that certifies commercial real estate service providers with the exclusive SIOR designation. Individuals who earn their SIOR designation adhere to the highest levels of accountability and ethical standards. Only the industry’s top professionals qualify for the SIOR designation. Today, there are nearly 3,200 SIOR members in 685 cities in 36 countries.
About CCIM
CCIM Institute, www.ccim.com, is commercial real estate’s most influential professional organization, with members closing $200 billion annually in commercial real estate deals. For 50 years, the Institute has been building opportunities through its respected education program, led by established practitioners. CCIM Institute members are eligible to earn the CCIM designation, the industry’s most prestigious certification.
About NAI/Merin Hunter Codman
NAI/Merin Hunter Codman, 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, Palm Beach Gardens and Wellington.
###

Click to view the original press release. 

Press Releases Uncategorized

NEWS PICK-UP: Related plans new office tower at CityPlace’s north end

The Related Cos. plans to build an 18-story office building on the north end of CityPlace, a move that could boost efforts to link the West Palm Beach mixed-use center to the rest of downtown and further develop the city’s core urban district.

360 Rosemary is slated to rise at the corner of Rosemary Avenue and Evernia Street, the first in a series of steps designed to expand and update CityPlace, a shopping, dining and residential center built by Related.

The 285,000-square-foot tower will be across from Publix. The supermarket was courted for the ground floor space, but a Related official said this week that Publix is staying put at CityPlace. The office tower instead will feature another retailer.

“It’s a big building for our market,” said Neil Merin, chairman of NAI/Merin Hunter Codman in West Palm Beach.

Related tried to build another office tower next to CityPlace a few years ago, but it was unable to obtain enough tenants willing to pre-lease space in the project, dubbed Gateway Tower.

In 2014, Related pulled the Gateway Tower plan. The next year, it unveiled a different idea: The Restoration Hardware furniture gallery, which opened last year.

Merin said Related, at some point, will need to decide whether it’s going to rely on pre-leasing to clinch a decision to build 360 Rosemary, “or if they’re going to build it anyway.”

CLICK HERE to read the full article.

News Articles

South Florida Makes Amazon’s Top 20

Amazon has released the Top 20 potential locations to open up their second headquarters… and South Florida made the cut. Neil offered his opinion and was quoted in two different articles relating to the possible locales.

Bookie calls South Florida long shot in Amazon HQ2 contest – Palm Beach Post article
“While I’m a big booster of Palm Beach County, I think Palm Beach County is kind of like what Greenwich, Connecticut, is to New York,” Merin said. “We’re a nice suburban area. If you’re looking for transportation and people, you have to look to southern Broward or somewhere in Miami-Dade.” / CLICK HERE to read the full article.

Where are South Florida’s 8 Amazon headquarter sites? Real estate experts identify potential candidates – Sun Sentinel article
The new site also depends, in part, on whether Amazon wants to go “urban or suburban,” said Neil Merin, principal of NAI/Merin Hunter Codman, a commercial brokerage and construction management company in West Palm Beach. He said Miami-Dade has the capacity to develop 50-story buildings, while Broward would have to be “creative” with developed space, as vacant land is scarce. If Amazon’s desire is “to be interactive with Latin America,” Miami is the likely spot for the headquarters, Merin said. “But one thing that’s good about Palm Beach County is we have a lot of housing coming online,” he added. “We have approved some 15,000 new units.” / CLICK HERE to read the full article.

News Articles

PRESS RELEASE: NAI/Merin Hunter Codman Completes 144,000 SF of Leasing at West Palm Beach’s Centrepark Office Buildings

— Centrepark West occupancy reaches 98% —

West Palm Beach, Fla. – Palm Beach County’s leading commercial real estate services firm, NAI/Merin Hunter Codman, Inc., has completed 144,000 square feet of lease transactions on behalf of Colonnade Centrepark East, LLC and Colonnade Centrepark West, LLC, within Colonnade’s first year of ownership.

The nine-building portfolio totaling 479,145 square feet of office space, located within Centrepark East and Centrepark West, was acquired in November 2016 by Colonnade Properties and affiliates of Grace Development and Flagler Realty. NAI/Merin Hunter Codman Chairman, Neil E. Merin, SIOR, CCIM marketed the property on behalf of the seller, JP Morgan Asset Management, Colonnade and partners were selected as the purchaser who post purchase retained NAI/Merin Hunter Codman as they valued the leasing potential executed by NAI/Merin Hunter Codman.

Today Centrepark West’s occupancy rate is 98%, up from the 80% reported at the time of purchase. Together, Mr. Merin and NAI/Merin Hunter Codman Commercial Associate, Shelbi Quinn successfully negotiated many deals on behalf of the owner, the largest transactions include:

• SV Microwave, Inc. and affiliate Times Microwave Systems, Inc. have executed 68,091 square feet of leases at 2301 and 2400 Centrepark West Drive
• Seacrest Services executed a 13,560-square foot, 10-year lease, at 2101 Centrepark West Drive
• Brown & Brown of Florida executed a 11,970-square foot, 10-year lease, at 1661 Worthington Road

CLICK HERE to read the full press release.

Press Releases