PEBB Enterprises and Banyan Development Obtain $26.95 Million Construction Loan for Mainstreet at Boynton Beach, FL

 Ian Weiner

BOYNTON BEACH, FL –– PEBB Enterprises and joint venture partner Banyan Development secured a $26.95 million construction loan for the impactful Mainstreet at Boynton project in Boynton Beach. Buffalo, N.Y.-based M&T Bank is the lender.

The transaction closed on April 22.

Site work is underway at the mixed-use development, which is located at 6405 W. Boynton Beach Blvd. 

The carefully planned project is expected to be a major catalyst for the West Boynton area.

Popular organic grocer Sprouts is leasing 26,000 square feet to anchor the primary retail component of Mainstreet at Boynton, with Wawa signed on to occupy an outparcel.

 Jason Sher 

“We are thrilled to complete this transaction with M&T Bank,” PEBB Enterprises President and CEO Ian Weiner said. 

“This was our first opportunity to work with the bank, and it was a pleasure. The successful closing is a testament to the strength of our joint venture and the substantial pre-leasing activity already generated.”

Mainstreet at Boynton’s plans also include a 158-bed, 117,000-square-foot Congregate Living Facility (CLF).

The venture recently finalized a lease for a retail tenant to occupy 4,000 square feet within the grocery building anchored by Sprouts. It is also negotiating letters of intent (LOI) with several retail and restaurant tenants. Including the signed LOIs, the project is 85% pre-leased.

 Eric Hochman 

“The response from potential tenants has been tremendous,” Banyan Development Principal Jason Sher said. “It speaks to the attractiveness of the development and strong demographics of the surrounding neighborhood.”

Mason Construction of Jupiter is the project’s general contractor. Workers are making significant progress, as the site is fully cleared and pad and utility work for each building is in progress.

Shell construction is scheduled to be completed during the second quarter of 2021, with delivery to tenants expected around that time or shortly after.

Jenny Schuemann 

“We appreciate that Palm Beach County has remained open and is facilitating the continued processing of site work inspections and building permits for our planned improvements,” PEBB Chief Development Officer Eric Hochman said. 

“Our positive momentum continues, which brings Boynton Beach residents that much closer to experiencing the benefits of this forward-thinking, well-designed project.”

For leasing inquiries, contact PEBB’s Chris Stewart or Jenny Schuemann at (561) 613-4020.

 Contacts: 

Eric Kalis

954-370-8999

ekalis@boardroompr.com

Daniel Benjamin

Senior Account Executive, BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram\

www.banyandev.com.

https://pebbenterprises.com/.  

Citywide Commercial Inks Major Medical Lease Renewal at Park Central in Phoenix, AZ

Bo Sederstrom

PHOENIX, AZ – Boutique metro Phoenix brokerage firm Citywide Commercial has completed a 56,000-square-foot lease renewal that keeps District Medical Group’s (DMG) Children’s Rehabilitative Services at Park Central, a rapidly emerging hub for medical education and services in Phoenix’s midtown submarket.

The lease will extend DMG’s presence at Park Central for 10 years and continue its participation in the revitalization of Park Central – an effort directed by Plaza Companies and Holualoa Companies to transform the city’s first large-scale mall into an almost 500,000-square-foot mixed-use project.

Most recently, this transformation has included a strong medical focus with the groundbreaking of a new $100 million Creighton University health sciences campus, able to support nearly 900 students, and activity by the Creighton University Arizona Health Education Alliance. 

Supported by Creighton University, Dignity Health, Valleywise Health (formerly Maricopa Integrated Health System) and DMG, the Alliance is based out of Park Central and focuses on expanding physician education and training in the Valley.

“Park Central is quickly becoming a major new medical hub in Phoenix, both for education and for patient services,” said Citywide Commercial Senior Vice President Bo Sederstrom, who represented DMG in their lease negotiations. 

“This is great news for Phoenix, which consistently ranks as one of the fastest growing populations in the nation. Groups like DMG will help us to keep pace with that growth and the associated rise in demand for quality medical care.”

DMG Children’s Rehabilitative Services is the only multi-specialty interdisciplinary clinic in Maricopa County providing care to Arizona children with special needs. 

Located at 3141 N. 3^rd Ave. in Phoenix, on the southwest corner of Central Avenue and Osborn Road, the office serves infants through age 21 with over 85 medical providers and more than 25 pediatric specialties. 

It also provides services ranging from labs and x-rays to education and support. DMG has been a tenant at Park Central since 2013.

 CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 www.citywidecre.com.

3 Attached Images

Royal Palm Residences Reaches 35% Sales in First 45-Days from Launch in Boca Raton, FL

Royal Palm Residences, 475 E. Royal Palm Road
 downtown Boca Raton, FL

BOCA RATON, FL- Just weeks after opening its brand new, state-of-the-art sales gallery, Royal Palm Residences announced it is 35% sold, exceeding expectations by a significant margin.

 In late January, Boca-based Group P6 kicked off sales, opening a 4,500 square foot luxury sales center at 475 E. Royal Palm Road in downtown Boca Raton, site of the new development.

 The highly anticipated nine-story, 48-residence condominium project is scheduled to be delivered in 2022.

“We knew there would be high demand for this type of luxury boutique product, but it’s selling even quicker than we ever anticipated,” said Ignacio Diaz, Managing Partner at Group P6.

 Bambi Ross

 “On the heels over our very exceptional opening quarter, we are now fielding numerous calls from numerous clients in the Northeast who are strongly considering leaving dense city life for more green space & walkability & lower taxes.

"Our sales team has gone from receiving 1-2 leads a day from those areas to now 10-12 a day.”

Sales of the project is being handled by ONE Sotheby’s International Reality. Their sales team led by Bambi Ross, says that there are number of factors contributing to fast pace of sales, include walkability and the fact that the homes are the perfect size for empty nesters or those looking for second homes near the ocean.

Ignacio Diaz

 Royal Palm Residences offers three to five-bedroom residences ranging from 2,425 to 7,168 square feet, ample room for families looking to downsize without sacrificing much space. 

 World-renowned, Suffolk Construction, general contractor, has been working on the project. Zelman Style Interiors is taking care of all interior design.

For more information about Royal Palm Residences or to schedule a private showing at the project, please call (561) 948-4051 or visit https://www.rpresidences.com/.

CONTACT:

Lauren Berger

Account Director

BoardroomPR

lberger@boardroompr.com

O 954-370-8999

C 954-551-0757

www.groupp6.com 

South Florida's Miramar Park of Commerce Completes 153,110 SF in Lease Renewals

Maridee Bell 

  

MIRAMAR, FL – Lease renewals totaling 153,110 sq. ft. of space have been signed at the Miramar Park of Commerce, South Florida’s largest locally owned and managed business park.

“We are thrilled that these well-established companies will continue on as valued tenants at the Miramar Park of Commerce,” said Sunbeam Properties Vice President Maridee Bell.

Lauren Pace

“The Park’s easy access to major roadways, local ownership and management and our ability to meet today’s diverse business needs appeals to local, national and international companies.”

Renewing leases were:

A warehouse and service facility for electrical generators, associated parts and equipment, Simply Reliable Power Incorporated renewed its lease for 49,352 sq. ft. for its headquarters in MPC 10 at 10151 Business Drive. The international company has sold and supported more than 50,000 generators in more than 38 countries in Latin America and the Caribbean.

 A.J. Belt

Nutrition Formulators, Inc. renewed its lease for 36,648 sq. ft. of space in building MPC-17 at 10407 N. Commerce Parkway. Nutrition Formulators manufactures safe and effective nutraceutical products.

Consilio renewed its lease for 21,102 sq. ft. in building MPC-12A at 2830-2870 N. Commerce Parkway. Consilio is a global leader in eDiscovery, document review, risk management and legal consulting services. 

 A.J. Belt of Cushman & Wakefield represented Consilio in the transaction.

 Tom O’Loughlin 

Global distributor and fabricator of plastic products for signage, and the industrial, construction, aerospace and medical industries, Polymershapes renewed its lease for 20,039 sq. ft. of space in building MPC-28 at 9624-9632 Premier Parkway. Rick Etner of Cushman and Wakefield represented Polymershapes in the transaction.

Twenty-five years ago, Nissan North America, Inc. opened a training facility in the Miramar Park of Commerce and has renewed its lease of 15,548 sq. ft. in building MPC-6N at 3201 Executive Way. 

 Tom O’Loughlin of CBRE, Inc. represented Nissan North American, Inc. in the transaction.

The Miramar-based homeowners association, condo and rental property management services company, Association Services of Florida, renewed its lease for 10,421 sq. ft. in building MPC-1A at 10112 USA Today Way.

             Bell and Lauren Pace of Sunbeam Properties & Development represented the Park in all transactions.

 For more information, please contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

CONTACT: 

Samantha Van Nuys

O: 954.776.1999  ext. 115 |C: 954.648.9132

6451 North Federal Highway, Suite 1200 |Fort Lauderdale, Florida 33308
More than 100 partner agencies in markets worldwide

Lincoln Property Company Retained as Property Manager for Dolphin Corporate Park in South Florida

Dolphin Corporate Park, 11410 and 11430 NW 20^th Street, Northwest Miami-Dade County, FL

MIAMI, FL – Lincoln Property Company Southeast (LPC), a full service commercial real estate firm headquartered in Dallas, was recently retained as Property Manager by Innovatus Capital Partners, LLC (Innovatus), an independent advisor and portfolio management firm based in New York City , for its newly acquired Dolphin Corporate Park.

Diego I. Juncadella

 The ±164,509-square foot Class A office campus is located in the city of Sweetwater in northwest Miami-Dade County .

  It consists of two three-story office buildings built in 2008 on 9.24 acres at 11410 and 11430 NW 20^th St .

Diego I. Juncadella, Vice President-South Florida, said over the last 22 months LPC has assisted Innovatus in closing 10 properties across the country with Dolphin Corporate Park being the latest acquisition.

“This purchase continues to align with our consistent approach to acquire cash flowing, high-quality commercial office properties located in strong growth markets across the U.S. with a secure and resilient tenant rent roll,” said Bradley Seiden, Managing Director at Innovatus.  

“We look forward to continuing our relationship with Lincoln Property and becoming part of the growing greater Miami metro.”

 “Through a challenging closing environment, our strategic partners – lenders, operators, attorneys and vendors – all stepped up to meet their obligations, which contributed to a successful closing,” Seiden added.

Edward J. Price

As a result of this acquisition, the LPC-managed portfolio for Innovatus now exceeds 2.3 million square feet, according to Juncadella.

Anchor tenants at the office center - which is 94.2 percent occupied – include Humana (CarePlus); ADT Security Services; ATF (GSA); Food and Drug Administration (FDA); US Bank; Banco Santander and Brickell Bank.  

  “These credit tenants were attracted to the Dolphin Corporate Park ’s build quality, which exceeds Florida ’s demanding building codes for hurricane safety standards and N+1 power redundancy," said Edward J. Price, Senior Vice President for LPC.

"These key attributes provide a value proposition to tenants in South Florida who, now more than ever, need assurance of business continuity in their office space.”

Art Fernandez

Dolphin Corporate Park ’s strategic proximity to both the Dolphin Expressway and Florida ’s Turnpike along with the adjacent 1.4 million square-foot Dolphin Mall offering numerous dining and retail amenity options for tenants, are among the reasons the property has maintained an average of 95 percent occupancy with credit tenants. 

In addition to those location advantages, the state-of-the-art disaster-resistant construction is unsurpassed as the two buildings have been rated as the only category 5 hurricane resistant office buildings in Miami-Dade, according to Price. 

“This competitive advantage is expected to attract tenants on a long-term basis,” he said.

LPC’s Director of Property Management Art Fernandez who will oversee the property can be reached at 305-607-7963.

 CONTACTS:

 Diego I. Juncadella, Vice President-South Florida , Lincoln Property Company Southeast; 786-762-3076 djuncadella@lpc.com

Edward J. Price, Senior Vice President, Lincoln Property Company Southeast, eprice@lpc.com 407-872-3500

Beth Payan, Larry Vershel Communications Inc. Beth@LarryVershel.com 407-644-4142 or 407-461-3781

innovatuscp.com.

StimULI Webinar May 14 to Explore Solutions for Landlords and Tenants

Drew Gorman Sr.

ORLANDO, FL --- Local real estate advisor, speaker and author John Crossman, CCIM, CRX will moderate the StimULI Webinar, an in-depth discussion about Covid-19’s impact on commercial/retail real estate hosted by the Urban Land Institute (ULI) Thursday May 14 at 8 a.m.  

Crossman, retired CEO of Crossman & Company, is the author of “Career Killers, Career Builders,” which is based on his speeches at colleges and universities. 

As one of Orlando ’s most influential business leaders, he will lead an hour-long panel about key issues now facing landlords and tenants.    

David Harvey

Learn about the issues and solutions that top landlords and owners are pursuing in the wake of the abrupt revenue declines tenants are facing and the resulting impact to landlords’ cash flows.

Crossman will lead a virtual panel that includes Trey McPerson, Vice President, RD Keene Trust; David Harvey President, Fairbourne Properties, LLC; Drew Gorman, Sr. Vice President of Acquisitions & Development at Echo Realty; and George Fryer, Jr., Director AEW Capital Management, L.P.

John Crossman

The public is invited to the StimULI webinar.  Registration is $15 for Non-members of ULI and $10 for members.  

To register now go to https://centralflorida.uli.org/events/ click on “webinar” then click “Register.”

CONTACTS:

John Crossman, CCIM, CRX

 407-341-3895 
jcrossman@crossmancb.com  

Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 or 407-461-3781
 beth@larryvershel.com

HSA Commercial Real Estate Completes 20,439 SF Lease with American Residential Services at Gateway Business Park in Indianapolis

Christine Muszynski 

CHICAGO, IL and INDIANAPOLIS, IN  — HSA Commercial Real Estate, a Chicago-based full-service real estate firm,  announced the firm has signed a 20,439-square-foot lease with American Residential Services (“ARS”) at 853 Columbia Road in Plainfield, Ind.

ARS, a Memphis-based network of commercial and residential plumbing and HVAC businesses, is scheduled to move into the fully leased building in September. 

 The 104,400-square-foot building was developed in 2004 as the first phase of HSA Commercial Real Estate’s 55-acre Gateway Business Park, near the Indianapolis International Airport.

 Robert Smietana

With the explosive growth in e-commerce and logistics in Indianapolis, HSA Commercial has continued to expand Gateway Business Park, developing six buildings totaling approximately 900,000 square feet.

 Most recently, HSA Commercial completed construction of the 262,758-square-foot Gateway V distribution center, where the firm signed long-term leases with transplant solutions provider LifeNet and Paris-based aerospace firm Safran Nacelles in 2019.

Terry Busch

“As we continue to grow and develop new state-of-the-art warehouses, we are pleased to see ARS find a home in our very first building at the Gateway Business Park campus,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. 

“With the existing buildings in the park at full occupancy, it gives us even more confidence to press ahead with our development plans going forward.”

 Jared Scaringe

Gateway V distribution center,
Plainfield, IN

Terry Busch and Jared Scaringe of CBRE and Christine Muszynski of HSA Commercial represented ownership in the lease transaction.

CONTACTS:

Rebecca Boykin
rboykin@taylorjohnson.com 
(312) 267-4523

Abe Tekippe
atekippe@taylorjohnson.com
 (312) 267-4528