NEWS PICK-UP: Company Announces Plan to Relocate to Palm Beach County

The Business Development Board (BDB) is pleased to announce Convergence Investment Partners is relocating from Grafton, Wisconsin to the city of Palm Beach Gardens. The company has leased 2,400 square feet of space at 3801 PGA Boulevard for their new headquarters, where they plan to employ 10 professionals. The BDB has been facilitating this relocation since 2016. Christopher Smith and Jason Sundook of NAI Merin Hunter Codman, represented Convergence while Tara England and Mark Pateman of Cushman & Wakefield represented the owners of 3801 PGA Blvd.

“As an investment manager, there were several key attributes which led us to choosing Palm Beach County as our new home,” noted Dave Abitz, President of Convergence. “The concentration of fellow investment professionals and hedge funds ranked high on our list of positive attributes that Palm Beach Gardens has to offer. The favorable tax climate and weather conditions further tipped the scale in our decision. Moving from a part of the country nicknamed the “Frozen Tundra” to a state where your license plate reads “Endless Summer,” made this an obvious choice for our team!”

Full Article: PDF | BDB Website Link

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NEWS PICK-UP: 2017 Big Year for Neil Merin

“Merin, Chairman of NAI/Merin Hunter Codman in West Palm Beach, handled three high-profile sales last year that  ranked among the top eight of SIOR’s list:

  • The $64.5 million sale of the 245,000 SF Golden Bear Plaza in North Palm Beach
  • The $62.3 million sale of a interest in a 245,673 SF property in Palm Beach Gardens
  • The $54.5 million sale of the 241,000 SF Fountain Square in Boca Raton”

Click here to view the article | Click here to view the PDF of the article

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NEWS PICK-UP: CCIM Deal Makers / Neil Merin takes Biggest Deal

Neil Merin, CCIM, of NAI Merin Hunter Codman in West Palm Beach, Fla., represented Terra in the more than $62.3 million purchase of the 245,673-sf Golden Bear Plaza office property in Palm Beach Gardens, Fla., from GB Investors LLC. Merin also represented Admiralty Acquisition Co. LLC in the more than $18.5 million sale of the 80,800-sf 4400 PGA office property in Palm Beach Gardens to Medical Center Realty LLC, North Medical Building Corp., and EMCD Properties LLC.

Article Link here | PDF of Article here

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EVENT: Honda Classic Broker Luncheon

Tacos, cold drinks, good company and the Honda Classic – what better way to spend a Friday afternoon? NAI/Merin Hunter Codman and Fairway Office Center hosted the Honda Classic Broker Luncheon, a highly anticipated annual event, on February 23rd. Guests enjoyed a delicious catered lunch while rubbing elbows with other top area brokers. After lunch, brokers are bused to the course and receive Bear Trap access.

The event showcases available space at Fairway Office Center, a 224,000 SF office park consisting of three Class-A office buildings situated on a 16-acre campus within the PGA National Resort and Spa Community. The buildings provide first-class amenities, ample parking and security. Click here for more information and to view current availability.

Events

News Article: South Florida Office Market Heats Up

Neil Merin was featured in the South Florida Business Journal…

“Preleasing has been slower in Palm Beach Gardens, where the speculative 63,500-square-foot Gardens Innovation Center was recently completed. Broker Neil Merin, chairman of NAI/Merin Hunter Codman, said the building has no leases, but now that companies can tour the finished space, he’s seen more interest.

“Unless people can see something, they won’t lease it,” Merin said. Merin’s client self-funded Gardens Innovation Center without waiting for preleases, but many developers aren’t willing to put so much of their money on the line, and prefer to combine equity with a construction loan. If a developer can’t obtain a solid percentage of preleases, obtaining construction financing is nearly
impossible.”

CLICK HERE to read the full article.

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