Thursday, August 27, 2015

HFF closes $35.5 million sale of mixed-use development site in Miami, FL

Manny De Zarraga
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35.5 million sale of Miami International Centre, a 20.89-acre former yacht manufacturing facility and existing 90-slip marina with access to the Miami River in Miami, Florida.

HFF marketed the asset on behalf of the seller, Alecta Real Estate Investment (Alecta).  Interterra Investments Group purchased the offering.

Miami International Centre is poised to be home to a world-class mixed-use development featuring retail, hotel, residential, office and/or marina uses. 

At almost 21 acres, it is the largest land parcel located immediately east of the Miami International Airport and is directly across from the Miami Intermodal Center, Florida’s most significant rail transportation hub.  

The site is part of the recently-created 220-acre Palmer Lake Metropolitan Urban Center zoning district established by Miami-Dade County to foster the creation of a modern urban center.

Maurice Habif
Miami International Centre consists of the Upland Parcel, which houses six warehouse buildings totaling 360,626 square feet, and the Marina Parcel, which has 37,982 square feet of existing buildings plus 90 covered boat slips.  The site has access to Biscayne Bay via its proximity to the Miami River.

The HFF capital markets team representing Alecta was led by executive managing director Manuel De Zárraga, associate director Maurice Habif, managing director Jaret Turkell and director Marty Busekrus.

“With its proximity to Miami International Airport, the Miami Intermodal Center, the Miami River and the Dolphin Expressway (SR 836), we feel that the Miami International Centre site is the most highly-connected development opportunity in Florida,” Habif said.  

“With the recent zoning changes to Palmer Lake, the site and the immediate area are ready to become the next great hub of development within South Florida.”

Speaking on the Miami International Centre, Interterra Investments Group head Jorge Hector Bernstein has voiced that he considers the property the epicenter of Palmer Lake, and the property’s proximity to an international airport ties into one of his personal mottoes: Look for today's busiest airports, and you will find the great urban centers of tomorrow.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

Colliers wins leasing assignment for 302,825-SF, 100% occupied Aventura Industrial Center in Aventura, FL

Jonathan Kingley
MIAMI, FL (Aug.  27, 2015) – Colliers International South Florida has been retained for the leasing of the Aventura Industrial Center, one of the most well-situated industrial facilities in the Miami-Fort Lauderdale area.

The two buildings, located at 555 NE 185th Street and 320 NE 187th Street, are 100 percent leased and total 302,825 square feet.

Colliers International South Florida takes pride in its long-term relationships with building owners. The team has worked with Stockbridge Capital Group, Aventura Industrial Center’s owner and landlord, for several years on a wide variety of assignments, including Cypress Park West, a 230,000-square-foot Class A office park in Fort Lauderdale.

Stockbridge Capital is being represented by Jonathan Kingsley, Executive Vice President of Colliers International South Florida assisted by Ryan Goggins, Senior Associate.

Goggins recently joined Jonathan Kingsley and Stephen Rutchik’s team, which is responsible for 2.5 million square feet of leasing in South Florida, focusing on the Miami and Fort Lauderdale markets.
Ryan Goggins
Aventura Industrial Center is centrally located among Miami-Dade and Broward counties’ four core drivers of growth: Port of Miami, Port Everglades, Miami International Airport and Fort Lauderdale-Hollywood International Airport.

Major tenants at the facility include seafood wholesaler Kansas Marine Co. and DFASS Group, the world's largest in-flight Duty Free specialty retailer.

“Well-located, quality industrial space in Miami such as the Aventura Industrial Center is in high demand and the supply is increasingly limited,” said Kingsley. “This tight market is expected to continue, as vacancy rates are low and expected to go even lower.”

Stockbridge Capital is an independent real estate investment management firm with a portfolio of approximately $9.8 billion of assets throughout the United States spanning all major real estate property types.

For a complete copy of the company’s news release, please contact:

Leah Saunders
B2 Communications
727-895-5030, ext. 104

Twitter (@ColliersIntl)

Private investor buys $2,1 Million Class A 18,645-SF warehouse in Naples, FL for fitness and training facility

Jim Tamblyn
NAPLES, FL (Aug. 27, 2015) – A private investor has purchased a Class A industrial warehouse with plans for a fitness and training facility. The 18,645-square-foot industrial space sold for $2.1 million.

The building is 100 percent air-conditioned, an unusual feature for a facility of this type, and features 20-foot ceilings, a truck well and grade level overhead doors.

Jim Tamblyn, CCIM, Senior Associate for Colliers International Southwest Florida, represented the buyer, RICDEN,  LLC. The seller is Baron Investment Corp. of Naples.

With a limited supply of Class A industrial space in Southwest Florida, the buyer purchased space that’s twice as large as what was required for its use of the facility, while providing the opportunity to lease the other half of the building at an attractive rental rate.

3600 Westview Drive, Naples, FL
“It was key for the buyer to secure high-quality flex industrial space large enough to accommodate a significant amount of physical training equipment,” said Tamblyn.

 “The price reflected the high market demand for industrial space, with sales prices and lease rates approaching levels that could support speculative construction in the area.” 

Located at 3600 Westview Drive in Naples, the facility will be sectioned by a new firewall to split the floor plan. Herbeau Creations of America, Inc., a  distributor of crafted sanitary ware, sinks and faucets, will remain a tenant and will lease a portion of the space from the new owners.

For a complete copy of the company’s news release, please contact:

Juliette Lauer
B2 Communications
727-895-5030, ext. 107

Cohen Commercial Realty Completes Seven Lease Deals in South Florida

Bryan S. Cohen
JUPITER, FL — Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc. announced the signing of Park Avenue BBQ to lease a 5041-square-foot space at Jupiter West Plaza located at the northwest corner of Indiantown Road and Central Boulevard. They join Winn-Dixie Supermarket, Pet Supermarket, Tijuana Flats, and Panera Bread. Cohen Commercial represents the landlord in this transaction.
PORT ST. LUCIE, FL  – Bryan S. Cohen and Chris Haass of Cohen Commercial Realty, Inc., represented Pollo Tropical of Miami, Florida, in successfully procuring a new lease for an outparcel pad site located at Shoppes at St. Lucie West, Port Saint Lucie, Florida.

 WEST PALM BEACH, FL — Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc., announced the signing of Yip TV Inc., to lease a 3,236-square-foot-space at The Blackstone Building located on the corner of Clematis and Dixie. Cohen Commercial Realty, Inc., represents the landlord in this transaction.

 CORAL SPRINGS, FL — Bryan Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., and John Breder of the Breder Companies, announced the signing of Painting with a Twist to lease a 2,270-square-foot space located at the Plaza at Coral Springs. Cohen Commercial represents the
landlord and John Breder represented the tenant in this transaction.

Allan Carlisle
 WEST PALM BEACH, FL  Christopher Haass and Bryan Cohen of Cohen Commercial Realty, Inc., represented Dorrian's Red Hand Restaurant of New York City in successfully procuring a new lease term with options, for a 4,005-square-foot space located at 215 Clematis Street in West Palm Beach, Florida.

 PALM BEACH GARDENS, FL  — Bryan Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of HEET Jewelry to lease a 1,320-square-foot space located at 4121 Burns Road in Palm Beach Gardens. Cohen Commercial represents the tenant in this transaction.

 NORTH MIAMI BEACH, FL — Christopher Haass and Bryan Cohen of Cohen Commercial Realty, Inc., represented Moe's Southwestern Grill of West Palm Beach, Florida, in successfully procuring a new lease term with options for a 2,100-square-foot space located at 12545 N. Biscayne Boulevard in North Miami Beach.

For a complete copy of the company’s news release, please contact:

Kacy Martin
Cohen Commercial Realty, Inc.
5041 Okeechobee Boulevard
West Palm Beach, Florida 33417
Mailing Address:
P.O. Box 223244
West Palm Beach, Florida 33422
561.471.0212 Office
561.471.5905 Fax