Over 40 local commercial real estate brokers attended our Golden Bear Broker Event on Thursday, January 21st. Jason Sundook and Lesley Sheinberg, leasing agents for the plaza, showcased some of the available suites at the stunning 243,000 SF Class A office complex. Attendees enjoyed delicious food and drinks with favorites including baked brie en croute, sushi, and chocolate coconut cake pops. Guests also enjoyed complimentary shoe shine and tarot card readings. The highlight of the night was the “Wheelin N’ Dealin” Prize Wheel, where dozens of $100 Visa Gift Cards, $10 Starbucks Gift Cards and three $1500 hotel/golf vouchers were up for grabs.
The event was a roaring success and we know the brokers will be happy to share information about Golden Bear Plaza to their clients. For more information about leasing, please click here.
NAI/Merin Hunter Codman Arranges $3.9 Million Purchase of 65-Unit Multifamily Property in Fort Lauderdale
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firms, announced that it has arranged the purchase of Northfork Garden Apartments, a 65-unit multifamily property in Fort Lauderdale, near the urban core of the city, for $3.9 million. Ary Sehayik and Wendy Pierre of NAI/ Merin Hunter Codman’s multi-housing unit represented the buyer, First Avenue Apartments LLC. The investment was a value-add purchase for the private Fort Lauderdale-based investors who believe the area and property have tremendous upside potential. The property is situated along the western gateway to Fort Lauderdale, an area undergoing significant economic transformation. The seller of the apartment property was We-build Inc. Suzanne Vordermeier-Waterhouse at VMC Realty represented the seller.
The Northfork Garden complex is located at 1415 NW 1 Street, which runs parallel to Broward Boulevard in Fort Lauderdale. It is just a block from the New River and enjoys easy access to I-95, which is approximately one mile to the west of the complex. This western area of the city will soon be receiving a huge economic boost with the opening of Riverbend Marketplace, a 310,000 square-foot project situated at the intersection of Broward Boulevard and I-95. Riverbend Marketplace will include a Walmart Supercenter and a variety of other retail and restaurants tenants, all of which will benefit Northfork Garden Apartments. The complex also benefits from the many young families that are increasingly drawn to the vitality of work-live locations near thriving downtown hubs. Broward County apartment buildings, in general, are also seeing some of the lowest vacancy rates in years with strong rental demand.
“The multifamily market is very strong in South Florida but opportunities remain to add value to underperforming assets to realize their full potential,” said Jordan Paul, CEO of NAI/Merin Hunter Codman.
CLICK HERE to read the full press release.
It’s the season of giving and NAI/Merin Hunter Codman is happy to have been able to participate for the 8th consecutive year in the Adopt-A-Family of the Palm Beaches Adopter and Santa Shoppe programs! Employees donated funds which the firm matched in order to purchase gifts for an adopted family.
Employees and their families also donated time on Saturday, December 12th at the Santa Shoppe party in West Palm Beach. Volunteers helped in a variety of areas including gift wrapping, a crafting area with the kids, kitchen duties, and guiding children through the event. The Santa Shoppe aims to provide a fun & festive holiday party for needy children and families in the community. Kids received personalized gifts, took pictures with Santa, made crafts, and selected free gifts for their families.
We’re so fortunate to have participated in this great program and we wish everyone in the community a happy holiday and New Year!
Over 20 NAI/Merin Hunter Codman employees, family and friends volunteered on Saturday at the Urban League of Palm Beach County’s Thanksgiving Basket Giveaway for the third consecutive year. The Urban League of Palm Beach County has been at the forefront of youth, education, economic, community and health empowerment for the past 38 years. As the leading provider of comprehensive family services serves over 16,000 clients annually. The majority of the youth and families they see on a daily basis are living at or below the federal poverty line and in underserved and challenged areas in our community. They live in neighborhoods with low high school graduation rates, high unemployment and underemployment, high crime rates and one-parent households. The Urban League addresses these challenges by providing self-reliance programs that move families and individuals into the economic mainstream through education, self-improvement and capacity building.
Since its inception, the ULPBC has worked diligently in the community offering programs and services to the underserved in Palm Beach County as well as acting as a public policy advocate for their rights. The ULPBC was formed with the purpose to enable disadvantaged minorities to secure economic self-reliance through education, housing and employment. The organization has offered stellar programs in the areas of housing counseling, youth development and education, community development and crime prevention and intervention.
Our volunteers had a great time organizing and distributing all of the ingredients and food items that the families would need to have a happy and healthy Thanksgiving holiday. In addition to volunteering time at the event, CEO Jordan Paul helped collect over $4,300 dollars in donations from trusted vendors and clients. We’re so thankful to have been a part of such a great community building event and wish everyone a Happy Thanksgiving!
Florida Commerce Park welcomes a new week of promise after a busy couple days of exciting events. On Thursday, November 12th, over 30 local government workers, dignitaries, politicians, industry leaders, and business owners attended the Ground Breaking Ceremony of the 100-acre industrial park. The site breaths new life into Indiantown as one of the largest industrial developments undertaken in Martin County. The park is fast-tracked with “permit-ready parcels” so businesses can begin vertical development immediately following initial infrastructure work.
On Friday, November 13th, over 20 local commercial real estate brokers gathered for a property tour of the site, followed by lunch and shooting at the South Florida Shooting Club. Brokers are excited at the possibility of the multiple uses approved at Florida Commerce Park, which far surpasses what other local industrial sites are approved for.
CLICK HERE for the most recent Florida Commerce Park news as well as more pictures from both days events.
For sales & leasing inquires contact: Richard Economou or Ryan Dinsdale, CCIM at 561 471 8000
NAI/Merin Hunter Codman’s executives, brokers and staff are back in the saddle after attending our annual NAI Florida Forum and NAI Florida Chapter Meeting which took place October 27-28, 2015 in the Treetop Ballroom of Miami’s Jungle Island. Although, the NAI Chapter Meeting offered a fantastic opportunity to collaborate and learn from our fellow NAI Global, NAI Latin America and NAI Florida members, I must admit this year’s Second Annual NAI Florida Forum stole the show.
The NAI Florida Forum is quickly becoming “the” annual economic event of South Florida. Dr. Charles Bohl, an associate professor and the director of the graduate program in Real Estate Development and Urbanism (MRED+U) at the University of Miami’s School of Architecture, welcomed a packed house of local, national and international business leaders, as well as commercial real estate professionals. Dr. Bohl, who is also an accomplished author and current chair of ULI Southeast Florida/Caribbean District Council, focused on mixed-use development, placemaking and community building in Florida, the US and abroad.
Next, Al Lewis, of the South Florida Business Journal lead, our very own, local expert, and NAI/Merin Hunter Codman, Chairman Neil E. Merin, SIOR, CCIM in an vibrant and insightful panel discussing the current state and future projections of the Latin America, Miami-Dade, Broward and Palm Beach Counties’ real estate markets.
Following our vivacious panel, was my favorite part of the NAI Florida Forum (sorry, Neil), keynote speaker Dr. Peter Linneman. Dr. Linneman is the principal of Linneman Associates, the CEO and founder of American Land Fund and of KL Realty, and the chief economist of NAI Global. Within the first 30 seconds of his presentation, Dr. Linneman captured the audience with his fresh and perceptive take on how the current national economic trends and predicted future outcomes, affect our local markets today and tomorrow.
NAI/Merin Hunter Codman is very fortunate to have been a part of this dynamic industry event and we would like to thank all of those who helped make this event a success. A very heartfelt thank you to our generous sponsors, fellow-event underwriters (NAI Global, NAI Miami and NAI Rauch Weaver Norfleet Kurtz & Co.), and most importantly, Jackie Larkin, NAI Miami’s marketing manager and her assistant extraordinaire, Elizabeth Calderin for all of their hard work in planning such a successful event. We’re looking forward to next year!
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firms, together with the Education Foundation of Palm Beach County (“Education Foundation”), today announced that Jordan C. Paul has been named to the foundation’s board. Mr. Paul is the CEO of NAI/Merin Hunter Codman and brings to the Education Foundation a strong and diverse background in business operations, law, finance, investment and asset management, and strategic joint ventures. Mr. Paul is a long-time advocate of educational causes in South Florida, and already is helping to direct the Education Foundation’s inaugural “School-Ready Supplies Store” program. The program aims to establish centralized retail/warehouse facilities in Palm Beach County to provide free school supplies to students and teachers in Title I schools (disadvantaged/low-income area schools). It is just one of many initiatives undertaken by the Education Foundation to bridge unmet gaps between public funding and the “learning, literacy and leadership” needs of the county’s students.
“Jordan Paul brings to the Education Foundation of Palm Beach County strategic business acumen that will help enable our private investments and business partnerships to maximize learning results,” said Christina Lambert, President and CEO of the Education Foundation of Palm Beach County. “Jordan Paul is a hands-on executive, which we like to see, ready to help spearhead new initiatives from the ground up. With board members like Mr. Paul and others, we can better run new programs efficiently and business-wise.”
Though Mr. Paul will advise on numerous Education Foundation initiatives, the foundation is particularly looking to his guidance with the new free school supply store since it includes the identification of optimal real estate sites, negotiation of leases (and/or building purchases), and ongoing property management. NAI/Merin Hunter Codman, where Mr. Paul serves as CEO, is the largest commercial brokerage firm in Palm Beach County, and as such, Mr. Paul oversees all aspects of strategic acquisitions, leasing and comprehensive property management at the firm, among other duties. The firm has in its client base some of the nation’s most prestigious institutional and private investors.
Click here to read the full press release.
Our MHC REAL Leaders had a blast on Friday morning at the Urban Youth Impact Dream Center in West Palm Beach. Urban Youth Impact is a faith based non-profit organization that serves at risk children and their families in the West Palm Beach, Riviera Beach and Boynton Beach areas through enrichment programs and job-readiness training. Through it’s core programs, UYI serves nearly 230 youth weekly with educational enrichment and job-readiness training while building lasting relationships. An additional 270 youth are impacted weekly through their collaborations with community partners.
Our group had the pleasure of participating in Summer Jam Camp activities and we had a great time. Our REAL Leaders played ball outside, helped little ones match music notes in piano class, assisted with arts and crafts, organized school supplies for their Back to School event, and even helped with some administrative duties. The children were a blast to work with and you can tell they are in great hands with caring and supportive staff members. Click here to see how you can help and we encourage you to volunteer as well!
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that Christian J. Johannsen, CCIM, has joined the firm as a Managing Director. Mr. Johannsen brings to NAI/Merin Hunter Codman over four decades of commercial real estate experience and industry relationships. He will focus on capital advisory services for institutional-quality assets including debt/equity placement, bridge and mezzanine financings, structured finance, and capital markets executions, among other advisory and placement services. Mr. Johannsen joins the firm from NAI Miami — which like NAI/Merin Hunter Codman is part of the NAI Global network. He held top executive positions at various other high-profile Florida brokerage firms over the course of his career and has over $4 billion of commercial real estate sales and financings to his merit. Mr. Johannsen has also, over the years, served as an instructor for the Commercial Investment Real Estate Council and as an Adjunct Professor at both Broward Community College and Palm Beach Community College.
“We feel very fortunate to have an opportunity to add to our team a senior commercial real estate executive with a sophisticated background and extensive institutional experience,” said Jordan C. Paul, CEO of NAI/Merin Hunter Codman. “Christian Johannsen will be an extremely valuable addition to our firm as we continue to expand the depth of our capital advisory and financing services.”
Added Jeremy Larkin, Co-Chairman at NAI Miami, “We support Christian’s life decision to return to his roots in Palm Beach County. While he will be missed in Miami, we were thrilled to work in tandem with Christian and the NAI/Merin Hunter Codman team. We have a long history of shared transactions with NAI/Merin Hunter Codman and believe Christian’s transfer to their offices will only strengthen our bond.
Click here to read the full press release.
Expansive South Florida industrial park moves quickly toward vertical in time for businesses to meet burgeoning trade implications from Panama Canal widening
Miami, Fla. – Skyfarm Strategic Capital LLC (“SkyFarm”), a Miami-based diversified development and acquisition company, today announced that it has awarded PRP Construction a multi-million dollar contract for the site development of Florida Commerce Park, a 100-acre industrial park in Martin County, Florida. PRP Construction is a South Florida minority women-owned business involved in road building, excavation and site-work. Florida Commerce Park, located in Indiantown, is one of the largest industrial developments ever undertaken in Martin County. The park is fast-tracked with “permit-ready parcels” so businesses can begin vertical development immediately following initial infrastructure work. PRP Construction will begin site development immediately, working alongside Mancil’s Complete Sitework, a premier regional earthwork contracting firm. PRP and Mancil’s expertise, together with the permit-ready sites, will enable Florida Commerce Park to have completed buildings by year-end. That timing is prior to the opening of the widened Panama Canal (1st quarter 2016), which is expected to further thrust South Florida into prominence as an international transport hub.
“PRP Construction and Mancil’s are well qualified to deliver on our aggressive site-timelines, which will help enable businesses to be up and operating at Florida Commerce Park in less than a year,” said Jeremy Shapiro, Director of Corporate Real Estate Development for Skyfarm Strategic Capital. “Industries locating at our park will be extremely well situated to immediately capitalize on regional and international trade growth.” Shapiro noted a lack in South Florida of large tracts of developable land for industrial use, which coincides with significant absorption of industrial space that does exist.
Florida Commerce Park, which will encompass up to 1.3 million square feet of industrial space, is situated at a crossroads of commerce in South Florida. The industrial park is located in a secure, inland location, adjacent to CSX’s main rail line and critical intermodal roadway systems, and the park is within close driving distance to ports in Palm Beach, Fort Lauderdale and Miami. The park’s expedited development timeline comes at an opportune time for trade and industry as the soon-to-be complete Panama Canal expansion will double its capacity and have significant trade implications for Florida. Furthermore, the park is situated in a strong path of regional growth, providing easy access for companies operating within Florida. The park also features exceptional broadband capacity and uninterrupted and redundant clean energy sources.
Click here for the full press release.