Archive for February, 2017
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to announce that Spencer S. Grossman has been elected as a Shareholder and Principal in the firm.
Mr. Grossman, a graduate of the Pine Crest School in Fort Lauderdale and Dickinson College is a 15-year commercial real estate veteran who specializes in retail investment sales and leasing. Mr. Grossman joined NAI/Merin Hunter Codman in 2010 after spending several years working with Marcus and Millichap and American Commercial Realty.
Mr. Grossman has consistently been a top producer throughout his time at NAI/Merin Hunter Codman and was named the firm’s Broker of the Year in both 2012 and 2014.
Mr. Grossman’s institutional clients have included C-III Capital Partners, Lone Star Funds, CW Capital, Related Group, Nuveen Asset Management and The Blackstone Group. He has also represented both landlords and tenants in retail leasing transactions with several national tenants including Chase Bank, Bank United, Dunkin Donuts, the Dollar Store, Stein Mart and AT&T. Mr. Grossman’s recent investment sales have included Square One, a 205,000 square foot Home Depot anchored retail plaza located in Stuart, the Marketplace at Hillsboro, a 112,000 square foot retail plaza located in Coconut Creek, Florida, 1425 Gateway Boulevard, a 28,000 square foot former charter school located in Boynton Beach, and the Shops at Casa Costa, the retail component of the Related Group’s Casa Costa mixed-use development, also located in Boynton Beach.
Jordan Paul, Chief Executive Officer for NAI/Merin Hunter Codman stated “We are very pleased to welcome Spencer Grossman as a Principal and Shareholder in our firm. Spencer is an extremely talented broker whose broad based knowledge of commercial real estate and the retail markets has made him an outstanding asset for our firm and his clients. Spencer’s contacts, expertise and analytical ability have allowed him to bring great value to landlords, tenants, buyers and sellers in structuring creative and complex transactions. We look forward to his continued contributions towards our success.”
Spencer Grossman stated “I’m extremely grateful for this opportunity. NAI/Merin Hunter Codman is a first class organization that is committed to all around excellence, in business and our communities, and I look forward to continuing that tradition.”
CLICK HERE TO READ THE FULL PRESS RELEASE.
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to announce that Director, Lesley Sheinberg has been named its’ 2016 Broker of the Year after completing 250,000 square feet in commercial transactions in 2016.
Ms. Sheinberg, a 20-year commercial real estate veteran, specializes in office leasing and investment sales for a wide variety of institutional and private equity clients including JP Morgan, Equus Capital Partners and Lionstone Investments. She is also recognized as a leading Palm Beach County medical office expert whose clients include South Florida Gastroenterology for whom she provides disposition advisory and landlord representation and ChenMed, a national primary care physician practice committed to bringing superior health care to moderate-to-low-income seniors, for whom Ms. Sheinberg provides advisory and site selection services throughout the state of Florida.
Significant 2016 transactions included her representation of the Landlord in Palm Beach County’s largest single 2016 lease transaction, the 42,000 square foot headquarters relocation of the Health Care District of Palm Beach County to Flagler Waterfront located at 1515 Flagler Drive in West Palm Beach. Other significant transactions in 2016 included the 21,000 square foot biomedical lease to Zimmer Biomet Holding’s Biomed 3i, LLC division, a global leader in musculoskeletal health, at Golden Bear Plaza, 11760 & 11760 US Highway One in Palm Beach Gardens; and the 17,000 square foot renewal and expansion of the headquarters for Jupiter Medical Center at the Jupiter Medical and Technology Park located at 1701 N Military Trail in Jupiter.
Ms. Sheinberg is an active leader in Palm Beach County who embodies NAI/Merin Hunter Codman’s commitment to service in its local community. She currently serves as a board member of the AEC Trendsetters of Florida and is a member of the PGA Corridor Association and the Palm Beach County Medical Association. Ms. Sheinberg also plays an active role for Adopt-A-Family of the Palm Beaches. A former dancer and dance and gymnastics instructor, Ms. Sheinberg is a New York native who spent five years as a commercial real estate broker in New York, specializing in tenant representation, prior to moving to Florida and joining NAI/Merin Hunter Codman in 2003.
Jordan Paul, Chief Executive Officer, of NAI/Merin Hunter Codman stated, “We are very proud of Lesley Sheinberg and the outstanding service she has provided to our clients and community throughout the years. Lesley is a tenacious, creative and resilient person who always goes the extra mile for her clients. She gets things done with a smile on her face and a positive personality that makes people want to do business with her and our firm.”
Ms. Sheinberg stated, “Grateful, summarizes my reflection on 2016. I am grateful for the outstanding clients that I have had the opportunity to help and I am grateful to work for a company like NAI/Merin Hunter Codman, a full service commercial real estate company that is dedicated to serving its community and who provides me with all of the tools and resources needed to allow me to advise and service clients, not only locally, but worldwide.”
CLICK HERE to read the full press release.
PRESS RELEASE: NAI/Merin Hunter Codman Completes $18,525,000 Sale of Palm Beach Gardens Office Building
Neil E. Merin, SIOR, CCIM, Chairman of NAI/Merin Hunter Codman represented the Seller, Admiralty Acquisition Co. LLC, in the sale of the 80,300 square foot, 10-story office building to Dr. A. John Merola, of Jupiter, Florida, who was represented by Summit Commercial Real Estate Group of Syracuse, New York for $18,525,000 ($231 per sf).
The Seller, an entity formed by Ray Celedinas of Celedinas Insurance Group and local investors, acquired the property in September of 2013 from a CMBS trust that had foreclosed on the property. At the time of acquisition, the property was just 21% occupied after losing a number of tenants including homebuilder Taylor Woodrow and Fifth Third Bank during the real estate downturn.
Upon acquiring the property, Celedinas Insurance moved its headquarters to the building and hired NAI/Merin Hunter Codman as property manager and leasing agent. Over the past three years NAI Merin Hunter designed and implemented a capital improvement and marketing program that resulted in increasing occupancy at the property to its current 99% occupancy level with a high credit quality tenant roster that includes Celedinas Insurance Group, A Marsh & McLennan Agency, Pulte Homes, the US Army Corps of Engineers, the Scott Harris law firm and GAI Consultants.
Jordan Paul, Chief Executive Officer of NAI/Merin Hunter Codman stated “Neil Merin and Jason Sundook did an outstanding job in overseeing the renovations, rebranding, and re-tenanting of this project. We are very happy to have helped our client create significant value and turn 4400 PGA into a premier property on the PGA corridor.”
CLICK HERE TO READ THE FULL RELEASE.