Press Release

NAI Global Ranked Among Top Five Commercial Real Estate Brand in the 16th Annual Lipsey Survey

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate company and the Palm Beach County representative of NAI Global, is pleased to announce that NAI Global has earned a top four spot in the 2017 Lipsey Survey of Top 25 Commercial Real Estate Brands. NAI Global provides commercial real estate services through a network of over 375 offices around the world.

NAI Global, a leading, global commercial real estate firm, earned the top four spot in the 2017 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify the top global brands. NAI Global is the only commercial real estate network represented in the top five. NAI/Merin Hunter Codman is a Member of NAI Global.

“We are proud that the strength of the NAI Global network is reflected in the results of this year’s Lipsey survey,” said Jordan Paul, CEO of NAI/Merin Hunter Codman. “Our affiliation with NAI Global allows us to provide our clients with first class services in any market they do business in throughout the world.”

The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry to equip organizations and their practitioners with the skills necessary to succeed in today’s competitive environment. The 2017 survey results can be found here


PRESS RELEASE: NAI/Merin Hunter Codman Completes $18,525,000 Sale of Palm Beach Gardens Office Building

West Palm Beach, Fla. – NAI/Merin Hunter Codman is pleased to announce that it successfully brokered the sale of 4400 PGA Boulevard in Palm Beach Gardens, Florida.

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.”


PRESS RELEASE: Palm Beach Garden’s Newest 63,500 SF Office Technology Complex, Gardens Innovation Center, Breaks Ground

NAI/Merin Hunter Codman Awarded Leasing Assignment

West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., Palm Beach County’s leading commercial real estate services firm, is proud to announce their latest assignment, Gardens Innovation Center. This Palm Beach Garden’s 63,500 square foot office and technology complex features ‘green’ eco-friendly construction with innovative and modern architecture situated within the convenient and prestigious PGA National Commerce Park, located on Hiatt Drive and Northlake Boulevard. The developer, LRP Properties II, LLC retained NAI/Merin Hunter Codman to lease the center and KAST Construction to build the project. Groundbreaking commenced in July 2016.

Gardens Innovation Center’s two professional office buildings are poised to attract the finest professional office users, as well as leading technological, bioscience and life science firms. Innovative, resourceful, and cost effective energy-efficient details were at the forefront of the design process. Eco-friendly architectural, construction and aesthetic features will be found throughout the center, as both buildings will apply for LEEDs certification. The center offers users large flexible floor plates in both the two-story, 37,500 square foot building and the 26,000 square foot, one-story building. If convenience is at the top of your wish list, Gardens Innovation Center can be found nestled within PGA Commerce Park, minutes from the Florida Turnpike, I-95 and the area’s finest amenities, including PGA National Resort. Meticulous site selection and workspace planning contribute to the success of employees and businesses. Gardens Innovation Center is designed to lead, collaborate and inspire tenants.