NAIOP to Host Seminar Jan. 25 on South Florida’s Economic Outlook for 2017

Darcie Lunsford

FORT LAUDERDALE, FL  – NAIOP South Florida, a Commercial Real Estate Development Organization, will host its Economic Outlook 2017 on Wednesday, January 25 from 7:30 to 9:00 a.m. at The Westin Fort Lauderdale, 400 Corporate Drive.

Moderated by Butters Realty & Management Senior Vice President Darcie Lunsford, Economic Outlook 2017 will cover how the new administration’s plans for trade, immigration, regulation and taxes will affect South Florida.

Panelists include Holland & Knight’s Public Policy & Regulation Group Partner Ronald J. Klein; Gunster Board of Directors Chairman George LeMieux; The Washington Economics Group, Inc. Founder and Principal J. Antonio Villamil; and Wells Fargo Managing Director and Senior Economist Mark Vitner.

“With the Trump administration taking office, there are bound to be sweeping changes, particularly in the economic sector of our country,” said NAIOP South Florida Executive Director Jules Morgan.

Jules Morgan

 “In South Florida specifically, we expect to see the effects of the new administration’s reformation of trade pacts, potentially altering the global supply chain and creating vast uncertainty for one of Florida’s top economic drivers. We’re looking forward to hearing the panel’s take on such a widely debated topic during Economic Outlook 2017.”

Tickets are $65 for non-NAIOP members and $50 for NAIOP members. To register for the event, visit www.naiopsfl.org/events or call 954-990-5116.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Jane Grant, ext. 224, jgrant@piersongrant.com

Berger Commercial Realty Brokers $2.1 Million Sale of Croissant Park Industrial Property in Fort Lauderdale, FL

St. George Guardabassi

FORT LAUDERDALE, FL  -- Berger Commercial Realty Senior Vice President St. George Guardabassi represented Ardox Corp. in the $2.1 million sale of a 45,000-square-foot industrial property to BJK Ventures, LLC d/b/a Elite Marine A/C at 1957 S. Andrews Ave. in Fort Lauderdale.

The property consists of an 18,000-square-foot warehouse featuring six street-level overhead doors and up to 18 feet of clear ceiling height.

 Situated on a corner lot with access from three sides, the property features 260 feet of frontage on Andrews Avenue and is located less than one mile from Broward Health and Broward County Courthouse. The property was used by Ardox Corp. for the assembly and sale of electric pumps.

"Elite Marine saw the advantage of the property's prime location along Fort Lauderdale's marine service and repair corridor," Guardabassi said. "As a provider of air conditioning and refrigeration equipment for boats and yachts, the company benefits from the surrounding marinas and central location in the 'Yachting Capital of the World.'"

The property, which was nearly demolished before it went under contract, is slated for complete rehabilitation by Elite Marine with plans to use it as a showroom, sales center, storage facility and service station for the company's expanding inventory of parts and equipment.

For more information about Berger Commercial Realty's brokerage services, call 954-358-0900.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Jane Grant, ext. 224, jgrant@piersongrant.com

G&C Holland Vero Investors Wraps Up Wawa Sale in Vero Beach, FL

  

 VERO BEACH, FL – G&C Holland Vero Investors LLC,  an affiliate of real estate investment group Grover Corlew, has sold 1.83 acres of a 3.5-acre development site at U.S. 1 and 12th Street in Vero Beach for $5.055 million.

 The property sold is currently leased by Wawa, considered one of America’s most popular convenient stores, which opened Dec. 1.

“We recognized that Indian River County and the stretch of land on U.S. 1 between 20th Street and 8th Street was ripe for commercial redevelopment. That’s why we invested in the purchase of that site,” said Partner Anuj Grover. “We specialize in identifying, acquiring and developing or re-developing properties that are long-term, value-add investments.”

In 2015, Grover Corlew in partnership with Holland Retail Advisors, LLC purchased the site, then a former Vatland auto dealership. The company then cleared the land for development and signed a land lease with Wawa.   

Planned WAWA Development site 12th Street and U.S. 1
Vero Beach, FL

“Wawa is expanding throughout Florida. We’re excited to bring this iconic brand to Vero Beach,” said Grover. “It’s a tremendous addition to this revitalized area of the city and the sale of the land it sits on is a promising long-term investment.”

There also is an additional 1.52 acres currently for sale next to Wawa. One parcel is under contract and expected to close in January 2017. Numerous other users are considering the remaining parcel.

Calkain Companies, LLC represented G&C Holland Vero Investors, LLC in the sale.

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

Samantha Van Nuys

Pierson Grant Public Relations

954-776-1999, ext. 115

svannuys@piersongrant.com

Berger Commercial Realty Facilitates $965,000 Sale of AMC Liquidators Warehouse in Tamarac, FL

St. George Guardabassi

FORT LAUDERDALE, FL - Berger Commercial Realty Senior Vice Presidents Keith Graves and St. George Guardabassi recently represented AMC Liquidators in the $965,000 sale of the AMC Warehouse to S.V.P. Tile & Marble, Inc.

  "The warehouse was used for the storage of furniture by AMC Liquidators, one of the country's premier commercial and residential furniture liquidators," Graves said. "The buyer plans to use the property for the storage and sale of floor tile and marble."

 Located at 3801 N.W. 50th Street in Tamarac, the +14,280-square-foot, single-story warehouse features two enclosed dock-high doors, 14 feet of clear ceiling height and ample parking. The free-standing industrial building is situated on a +45,181-square-foot lot between I-95 and Florida's Turnpike along the Commercial Boulevard corridor.

 For more information about Berger Commercial Realty's brokerage services, call 954-358-0900.

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Jane Grant, ext. 224, jgrant@piersongrant.com 

Six Leases in Five Months at EverWest’s 10 Chandler in Phoenix, AZ

 

Jackie Orcutt

PHOENIX, AZ – EverWest Real Estate Partners and CBRE are on a roll at 10 Chandler, signing six new leases in five months at the East Valley industrial park. Several of the new tenants have moved into the development this quarter. The remainder will move in by year’s end.

The new leases – which total more than 98,000 square feet – bring the project to 86 percent occupied.

Located at 450 – 590 N. 54th St. in Chandler, Arizona, 10 Chandler totals 37 acres with more than 553,000 square feet of space in nine flex/industrial buildings. The park is centrally located in the heart of the Chandler Tech Corridor, offering approximately 1,150 feet of I-10 frontage, premier freeway-facing signage and freeway access via three full diamond interchanges.

John Grady

The latest leases at 10 Chandler include:

• Babytown - New lease commitment for 12,000 square feet.

• DNB Engineering - Expanded into an additional 16,000 square feet.

• Heads Up Helmets - New lease commitment for 6,000 square feet.

• M+W U.S., Inc. – New lease commitment for 33,000 square feet.

• Inyati Bedliners – New lease commitment for 20,000 square.

• Stretch to Win Institute - New lease commitment for 11,000 square feet.

 These companies will join existing tenants at 10 Chandler including Origami Owl, Cloud Blue, Eaton, Paradise Bakery and Toshiba.

CBRE First Vice Presidents Jackie Orcutt and John Grady serve as the exclusive leasing brokers for the property. Hired to handle the leasing in mid-February, the CBRE team has brought the property from 65 to more than 86 percent leased in just a short time.

“EverWest has taken a thoughtful approach toward building a strong base of credit tenants that reflect a healthy and diverse metro industrial market,” said Orcutt.

She also points out that the Chandler submarket is one of the strongest in the Valley, posting more than 1 million square feet of positive net absorption so far in 2016. She says 10 Chandler is particularly well situated to continue to capitalize on activity in the submarket.

“The project’s location in west Chandler along I-10 is perfect for growing manufacturing, tech and defense/aerospace-related firms who need a strong labor base in a central location with a great deal of amenities.”

10 Chandler, Phoenix, AZ

Among the amenities at 10 Chandler are up to 26-foot clear height ceilings, up to 50 x 30-foot column spacing, a mix of dock-high and grade-level doors, and generous parking. 

Building features are enhanced by nearby market amenities, including more than five hotels, 25 restaurants and multiple major shopping and power centers within a one-mile radius.

10 Chandler is a short drive to Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, as well as the amenities and employment pools of downtown Tempe, downtown Phoenix and the East Valley. The park sits just north of the I-10/Loop 202 intersection, which reports a traffic count of 212,217 vehicles per day.

Select vacancy remains at 10 Chandler, including approximately 42,000 square feet in Building 2 and 19,000 square feet in Building 6. EverWest is also under construction on an 18,000-square-foot speculative suite in Building 1, with an expected completion date of January 2017.

For more information, visit www.10Chandler.com or call CBRE at 602.735.5000.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.cbre.com.

www.EverWest.com.

Hines Acquires 1.2 million-square-foot Class A Industrial Park in Phoenix Southwest Valley

Palmer Letzerich

PHOENIX, AZ – Hines, the international real estate firm, announced it has acquired the Southwest Industrial Center, a Class A industrial park located in the heart of the Southwest Valley submarket in Phoenix, Arizona, from Hillwood Property Trust. Financials on the deal were not disclosed.

The project consists of a 684,000-square-foot, 32’ clear logistics warehouse and an adjacent development parcel capable of accommodating a second building of 567,000 square feet. 

The existing building is 35 percent leased to AmerisourceBergen, a market leader in pharmaceutical distribution, who is currently #16 on the Fortune 500.

Palmer Letzerich, Senior Managing Director, said, “Our logistics group is excited to continue our expansion in Phoenix with what we see as the Southwest Valley’s premier property.

“With our recent investment in Goodyear and this new acquisition at Buckeye and 75th, we are pleased with our growth in the Southwest Valley. As part of our commitment to the Phoenix market, we are now targeting investments in the Sky Harbor airport submarket.”

Charlie Meyer

Hines has assigned the leasing assignment to the Tony Lydon/Marc Herzberg team at JLL. The acquisition of Southwest Industrial Center is Hines’ second logistics investment in Phoenix and brings the Hines logistics platform to over 5.1M square feet in the Southwest Region of the United States.

Hines Managing Director Charlie Meyer noted, “The Southwest Industrial Center is a quality asset that we feel we can position immediately to meet the growing tenant demand in the Southwest Valley.

“We are aggressively targeting tenants of up to 455,000 in the existing building and have the flexibility to accommodate build to suits of up to 570,000 on our development parcel. 

"We look forward to working with JLL on a successful lease up of building 1 and on the development of building 2.”

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.hines.com

Grover Corlew Affiliate Refinances Sabre Centre in Boca Raton, FL

Mark Corlew

BOCA RATON, FL – G&C Sabre Investors LLC, an affiliate of real estate investment group Grover Corlew, has refinanced Sabre Centre I in Boca Raton, Fla. for $12.3 million through lender RAIT Partnership, LP.

“We closed on the refinancing in connection with our August acquisition of Sabre Centre I, taking advantage of a favorable financing environment while rates are at historic lows,”  said Partner Mark Corlew, whose group focuses on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S.

“With full floor availability overlooking the Park of Broken Sound golf course and potential signage opportunities, we were attracted to this high-end building that is surrounded by 700 acres of open green space with walking trails, lakes and waterways.”

Within the next year, G&C Sabre Investors LLC plans to spend more than $250,000 in common area upgrades at Sabre Centre I, a 102,351 sq.-ft., six-story, Class-A office building located at 5901 Broken Sound Parkway within the Park at Broken Sound.

The building sits on six acres with golf course and lake views and an abundance of free surface parking. Built in 1986, Sabre Centre I is ideally situated in a highly desirable residential, business and technology corridor and is strategically located just off I-95 and Yamato Road within Palm Beach County’s best-known business park.

Darcie Lunsford

“The location and efficient spaces naturally lend themselves to corporate headquarters, technology companies, professional service firms and regional operation hubs that need to be strategically positioned to serve the tri-county area and draw from the abundant and highly skilled labor force living in Palm Beach and Broward counties,” said Darcie Lunsford, leasing agent to Sabre Center I. “Sabre Center I is already one of the top buildings in the north Boca Raton office market and the planned renovations will take it to the next level.”

G&C Sabre Investors LLC originally acquired Sabre Centre I for $14.5 million. The building is currently 77 percent leased with tenants from various industries such as financial services and sports nutrition

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

Samantha Van Nuys

Pierson Grant Public Relations

954-776-1999, ext. 115

svannuys@piersongrant.com