Posts tagged Bruce Corn
West Palm Beach, Fla. – Jordan Paul, CEO of NAI/Merin Hunter Codman Inc., Palm Beach County’s leading commercial real estate services firm, is pleased to announce the completion of over 250,000 square feet of commercial real estate sales and leasing transactions in the first quarter of 2016.
“Our brokerage teams have hit the ground running in the first quarter of 2016, completing sales and leasing transactions on over 250,000 square feet of commercial real estate,” said Jordan Paul, CEO of NAI/Merin Hunter Codman. On the investment sales side, Bruce Corn, Managing Director, completed the sale of the 26,700 square foot Palm Beach Golf Center located at 7700 N. Military Trail, Riviera Beach. Jason L. Sundook, SIOR, Principal and Spencer Grossman, Director also completed the sale of 1425 Gateway Boulevard, a 28,000 square foot former charter school in Boynton Beach.
Tenant representation services were provided by David W. Knott and Ryan R. Dinsdale, CCIM of NAI/Merin Hunter Codman’s Investment Services Team, who facilitated a 30,000 square foot lease expansion for RAVE, LLC, a global supplier of advanced equipment for leading edge semiconductor and nanotechnology applications.
Lesley Sheinberg, a NAI/Merin Hunter Codman Director, who specializes in medical site facilitation, secured two facilities for ChenMed (Chen Neighborhood Medical Centers South Florida) totaling 25,000 square feet in Lakeland, Florida. ChenMed is a family-owned, family-oriented organization committed to bringing superior health care to moderate-to-low-income seniors.
Richard Brockney, Director of NAI/Merin Hunter Codman’s South Palm Beach County leasing team, facilitated a total of 21,000 square feet of new leases, including a 13,000 square foot lease with Shendell & Pollock, a local law firm, on behalf of Fountain Square Owner, LLC at Fountain Square in Boca Raton.
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West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firms, has named Bruce Corn, a Managing Director in the firm’s Retail Services Group, as its Broker of the Year for 2015. He’s being recognized for his service to sellers, buyers, landlords, and tenants in the brisk market in Palm Beach County and the surrounding area.
Mr. Corn’s honor reflects his work in the retail sector, which has been especially active for NAI/Merin Hunter Codman in the past year. Overall retail sales and leasing for the firm were both up notably, with sales up by $8 million over 2014.
With more than 20 years at the firm, Mr. Corn put his expertise to good use, closing several retail investment sales and lease transactions this year. His background and market knowledge enabled him to assist a diverse array of clients, and manage complex transactions smoothly.
“That is what our clients look for from us,” CEO Jordan Paul commented. “Bruce Corn has a well-earned outstanding reputation in the retail industry. He is always a gentleman and his extensive contacts and experience in the retail industry have allowed him to source and negotiate great transactions for our clients. He is a great ambassador for our firm and the NAI Global brand and we are proud to name him our 2015 Broker Of The Year.”
In his work with NAI/Merin Hunter Codman, Mr. Corn oversees a retail portfolio of over 1.2 million square feet and has procured more than $100 million in sales and leasing transactions. He has specialized in retail throughout his career, and is a long-time member of the International Council of Shopping Centers, as well as a CoStar Power Broker. This year saw an increase of 150,000 square feet in Mr. Corn’s leasing transactions.
Some of his most significant closings for the year included:
• A relocation of the 20,000 SF Planet Fitness Gym at Village Shoppes in Royal Palm Beach, working in tandem with Spencer Grossman.
• An 8,000 SF lease for his longtime client Saito’s Japanese Steakhouse.
• A long-term 6,700 SF Pet Supermarket lease in Tequesta.
• Two sales of retail buildings totaling 25,000 SF on Military Trail in West Palm Beach
Mr. Corn, who holds a Bachelor’s in Business Administration from Ohio University, with a specialization in Marketing and Communications, has worked in the South Florida market since 1987. Now he specializes in representing retail tenants and landlords. His experience in the local market means he has the network required to work through challenges and make sure his client is heard. He has a robust professional network that lets him provide efficient service to clients.
“Bruce understands the importance of the human element to CRE, and he works diligently to create a trusting partnership with clients,” said Neil. E. Merin, the company’s SIOR, CCIM, and Chairman.
Going forward, retail in South Florida continues to look strong, and Bruce Corn and his associates should stay busy. The firm reports that there’s a trend in the market toward more urban locations and less demand in suburban markets. This suggests a continued interest in repurposing existing structures for retail, and creating live-work-play neighborhoods. These trends have been strong in urban markets for several years, and have begun to make their presence felt in South Florida’s retail and multifamily sectors as well.
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West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that it will record one of the highest-momentum years for retail property transactions in nearly a decade. The high volume is a reflection of retail clients rushing to find adequate space for new stores and expansions. Some markets have seen rental rates rise as much as 10 percent in the last year, pushing retailers to act swiftly to lock in advantageous property and lease terms. This activity follows on the heels of the residential housing-market recovery with retailers, in turn, seeking to service commensurate growth. NAI/Merin Hunter Codman sees extremely brisk retail property activity across all markets from Boca Raton and Wellington — the latter exceptionally strong — on to West Palm Beach and areas of significant residential development in Jupiter. The strong trend of momentum is not expected to abate any time soon, according to retail experts at NAI/Merin Hunter Codman.
“Many South Florida retailers are expanding, pushing rental rates upward,” said Bruce Corn, Managing Director in the Retail Services Group at NAI/Merin Hunter Codman. “At the same time, that presents opportunity as expanding retailers vacate space that can be nicely rehabbed to accommodate new up-and-coming tenants.”
Mr. Corn points to representative client transaction such as Planet Fitness relocating within the Village Shoppes shopping center located on Route 441 in Royal Palm Beach. Planet Fitness moved and expanded into larger space, signing on for an expanded 20,000 square feet in a new lease in the same center. Congress Auto Parts, at Forest Hill Blvd. and Congress Ave. in West Palm Beach, relocated from one retail center to an adjacent center, having purchased a larger building totaling 6,500 square feet for its new location.
“Momentum is not limited to a particular retail specialty,” added Jordan Paul, CEO of NAI/Merin Hunter Codman. “This is a broad-sweeping trend with positive activity ranging from the expansion of restaurants, specialty grocers and pharmacies, to décor, pet supply stores and more. We see this upward trend across the full spectrum of retail in South Florida.”
Other retail transactions completed by NAI/Merin Hunter Codman in 2015 include:
• Pet Supermarket took on 6,700 square feet at Village Square on US 1 in Tequesta
• Don Che Steakhouse opened in the Casa Costa condominium complex in Boynton Beach
• Saito Japanese Steakhouse expanded its existing locations including at City Place in West Palm and in Wellington at the Pointe on Wellington Green, and signed a lease for an upcoming 7,800 square-foot restaurant at Pompano Citi Centre in Pompano, which will open in early 2016.
Major pharmacy chains such as CVS have also been expanding. NAI/Merin Hunter Codman negotiated the sale of a 10,000 square-foot building, which was to be torn down and combined with several other parcels to make way for a new 14,000 square-foot CVS store at Military Trail and Northlake Blvd.
Noted Spencer Grossman, Director in the Retail Services Group at NAI/Merin Hunter Codman, “We continually seek improved uses for retail properties, which also translates into benefits to local communities. Restaurants are especially performing well and the variety of area options is becoming eclectic and internationally diversified in terms of cuisine.”
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West Palm Beach, Fla. — NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that it has leased prime retail space on US 1 in Tequesta, Florida to Pet Supermarket, one of North America’s largest pet supply retailers. The Sunrise-headquartered retailer signed a long-term lease for 6,700 square feet of space at Village Square of Tequesta, establishing the chain as the only large pet retailer in the city and pointing to the continued success of the industry in general. Pet Supermarket now has more than 150 stores nationwide with over 100 in Florida alone. One of the primary industry trade publications, Pet Business, refers to the pet supply industry as a “powerhouse of growth,” reflective of continually increasing pet ownership in the U.S. Approximately one-third of all households in America own a dog and nearly as many are cat-owners.
“There was a void in northern Palm Beach County for a leading pet specialty store, and Pet Supermarket will fill that void in a prime location,” said Bruce Corn, Managing Director of the Retail Services Group of NAI/Merin Hunter Codman. “The location offers exceptional visibility with 30,000 cars driving by on US 1 daily.” Mr. Corn negotiated the new lease on behalf of the property owners, Tequesta Investors, LLC.
Village Square at Tequesta is a 74,000 square-foot strip center on US 1 at Tequesta Drive in Tequesta, which is the northernmost city in Palm Beach Country. Martin County lies to the north. The new Pet Supermarket is expected to service pet owners in both counties. The store began build-out this month and is expected to have a grand opening prior to year-end. The new store’s address will be 229 US 1 in Tequesta.
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Harbor Freight Sees South Florida Returning to Housing Basics – Leases Space in Palm Beach Gardens Retail Corridor
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that it has arranged for Harbor Freight Tools USA to lease a 12,100 square-foot freestanding building in the highly desirable Palm Beach Gardens retail corridor of South Florida. Harbor Freight Tools is an extremely successful, nationwide retailer of brand-name discounted tools, ranging from power, air and hand tools, to auto and motorcycle tools and generators, to household tools—including for assisted living— and lawn and garden tools, among other categories. The new lease marks a departure in use for the existing contemporary building, located on Northlake Boulevard near US 1, which previously hosted an interior design center. Harbor Freight Tools marks a return to basics as industries such as housing in South Florida continue their recovery, and consumers focus on basics such as renovations, remodeling and maintenance.
“This retail property represented an ideal fit for Harbor Freight Tools,” said Jordan C. Paul, CEO of NAI/Merin Hunter Codman. “It’s by the nexus of two of Palm Beach County’s most trafficked thoroughfares, in a highly desirable demographic area, and is surrounded by key retailers like banks, grocers and pharmacies. Harbor Freight Tools will benefit from a built-in consumer base.”
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