NAI/Merin Hunter Codman Reaches New Heights

It’s with great excitement and pride that we share a recent milestone for our company – the NAI/Merin Hunter Codman name has been placed atop the Centurion Tower building! This is a grand accomplishment for a firm who humbly resided in a partial second floor space at the building for nearly 30 years. Our recent move to the seventh floor combined with building signage is a testament to the firms stability and dedication to West Palm Beach, Palm Beach County and South Florida.

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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.

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Ways Landlords Can Leverage Technology to Increase Revenues

As a landlord, you’re always looking for ways to give a boost to the bottom line. With technology a huge part of that bottom line these days, it only makes sense that you’re going to look to it not only to increase revenue but to improve your tenants’ experience as well.

So what are the ways in which you can do this? Here are a few that we’ve collected:

Use machine learning and artificial intelligence for optimal pricing strategies. With many new companies emerging with the exact intent of using data analytics and machine learning to predict rent-related factors, you won’t have to do all the heavy lifting yourself. These companies include Enodo as well as HouseCanary – but you’ll be able to find many competitors out there as well.

Include high-speed internet in the rent, which in turn increases the rent you’ll be able to charge. Starry Internet is a great example of in-house internet that you can install, giving tenants quality internet connection and yourself a reason to increase your rent roll.

Property Management

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.

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2018 PM Appreciation Day

Our Property Management and Maintenance teams had a great time watching the Red Sox vs. Marlins game at our annual PM Appreciation Day, held this year at the Roger Dean Chevrolet Stadium in Jupiter on March 9th. Ice cold drinks, delicious food and great company made it an afternoon to remember in the Cassidy Cool Zone. We appreciate all the hard work and dedication our MHC family shows each and every day and we’re happy to be able to show them our appreciation and encourage camaraderie through great, out of office events like these. Thank you to our tenacious staff for all you do to make our firm the best in Palm Beach County!

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MHC Property Management Tenant Survey Results

With 4 million square feet under management, we pride ourselves on our reputation for well maintained and managed office, industrial, retail and corporate facilities. Our company’s experienced professionals are prepared to respond to the most unique challenges with the utmost in personalized service.

Each year, we conduct a tenant survey asking how our Managers and Administrators are doing. This years results are in…

Congrats to the winners! Here are some of the amazing things tenants had to say about their respective Property Management teams:

“Great job! We have enjoyed 10 years in this space.” – FlyChina Infotek, Inc. at 951 Yamato Road in Boca Raton. (PM Team: Tania Murphy & Jennifer Schwal)

“We have been here several years and with our expansions that are in the works now, we are appreciative of the help and cooperation we have been given.” – Cross International Catholic Outreach, Inc. at 2700 Fountain Square in Boca Raton. (PM Team: Tania Murphy & Jennifer Schwal)

“This is by far the most professionally run building I’ve ever known, and I’ve shared that opinion with many of my colleagues.” – Boca Executive Realty, LLC at 7108 Fairway Drive in Palm Beach Gardens. (PM Team: Andrea Brauner & Jo-ann Carlisi)

“Staff is always helpful and courteous. It is a pleasure working with them.” – Ameripath at 7111 Fairway Drive in Palm Beach Gardens. (PM Team: Andrea Brauner & Jo-ann Carlisi)

NAI/Merin Hunter Codman 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, industrial, retail, multifamily, hotels and land. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private investors and through the NAI Global network, we can facilitate property transactions around the nation and the world, serving as a single point of contact for our clients’ counsel and execution. Click here to learn more about our full scope of services.

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