Saturday, August 18, 2018

Meridian Capital Group Arranges $22 Million in Financing for the Flagler West Corporate Center in Miami, FL

Israel Schubert
 Iselin, NJ – Meridian Capital Group, America’s most active dealmaker, arranged $22 million in financing for the refinance of the Flagler West Corporate Center in Miami, FL on behalf of Allstate Florida Development, LLC.
The seven-year loan, provided by a New York-based balance sheet lender, features a rate of 4.75% and a 30-year amortization schedule.

Meridian Senior Managing Director, Israel Schubert, and Vice Presidents, Sol Spitzer and Scott Forbes, negotiated this transaction.

“We are very proud to have closed this transaction for this long-standing and well-respected client of the firm,” said Mr. Schubert. “Meridian leveraged our strong relationship with the lender to close this unique deal.

Allstate has invested significant capital into the property since they acquired it, and as a result it has become one of the most desirable buildings in the area. Many of the existing tenants have expanded and appreciate the dynamic ownership and building.”

Located at 8700 West Flagler Street in Miami, FL, Flagler West Corporate Center spans 147,000 square feet and consists of a four-story office building with onsite management and a coffee shop, a one-story retail building featuring tenants such as Panda Express, Di Papas Pizza, Stylish Nail Bar & Lounge, and Sprint, and a standalone CVS.

The property is in close proximity to key residential areas, including Kendall, Coral Gable, and Miami Lakes, and is located within minutes from Miami International Airport, State Road 836, and the Florida Turnpike.

Flagler West Corporate Center, Miami, FL
“It was a pleasure working with Allstate Florida Development, LLC on the refinancing of Flagler West Corporate Center,” said Mr. Forbes. “We worked seamlessly with the new and existing lenders to navigate many moving parts and satisfy the defeasance timeline. We are pleased to have been able to complete the transaction quickly and meet our client’s needs.”

“As clients of Meridian Capital Group since its inception, we couldn’t be more pleased with the loan outcome. Meridian and the lender teamed up to produce a loan that met and exceeded our expectations,” noted Mr. Harry Spitzer, Director at Allstate Florida Development, LLC.

“As we are expanding our market reach beyond our New York City origins into Florida and other markets, Meridian has been a true partner and we have been able to leverage their unique and real time analytics and understanding of various markets.”

For more information, please contact:

Hold-Thyssen Completes Five Multi-Year Leases Totaling 10,400+ SF on Dr. Phillips Boulevard in Southwest Orlando, FL

Darby Hold

WINTER PARK, FL --- Hold-Thyssen, Inc. a full service real estate services firm headquartered in Winter Park, recently negotiated five leases totaling 10,404 rentable square feet at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

  Darby Hold, transaction specialist for Hold-Thyssen, Inc. represented the landlord, Financial Way Realty, Inc. based in Cincinnati, Ohio.    

Tenants who completed new, expansion and/or renewal lease agreements include:

Philips Place, 7575 Dr. Phillips Boulevard,
Southwest Orlando, FL
·        Charis Counseling Center in Suite 365 with 1,388 square feet;
·        John E. Russi, CPA P.A., in Suite 320 with 1,670 square feet;
·        Wes Bal and Dwight Kleine, short sale specialists, Suites 240-245-266 with 5,706 square feet;
·        Latitude Promotions, Inc., PR firm in Suite 325 with 1,120 square feet; and
·        Fitzgibbon Alexander, Inc., business brokers, in Suite 135 with 520 square feet.

Kevin Hammond
Kevin Hammond of Cushman & Wakefield represented Charis Counseling opening a new office serving the Dr. Phillips area.

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place office building, which is now 95 percent leased. 

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide. 
 The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

For more information, please contact:
Beth Payan, Larry Vershel Communications

NAI Realvest Closes $3 Million+ Acquisition of New Smyrna Beach, FL Walgreens Store

 New Smyrna Beach, Fla. -- NAI Realvest recently negotiated the $3,073,000 sale of a 12, 973 square foot building occupied by a Walgreens store located on State Road A1A in New Smyrna Beach. 

Chris Adams, Associate at NAI Realvest, negotiated the purchase of the building built in 1993, representing Davenport-based Citrus Enterprises Inc.  a freight shipping and trucking company.  Buyer purchased the fully, long-term leased property to exercise a 1031 tax deferred exchange.  

Seller 800A1A Spiro Comitos was represented in the transaction by Mark Hollenbeck of Retail Net Real Estate.  

 For more information, please contact:

Chris Adams, Associate NAI Realvest, 407-875-9989

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989

Beth Payan, Larry Vershel Communications 407-644-4142