Auction Sale of Unfinished Palm Beach, FL Tiffany Building Penthouse Could Fetch $21 Million

 

Unfinished Palm Beach, FL Tiffany Building Penthouse on Fashionable Worth Avenue Could Fetch $21 Million

PALM BEACH, FL -- Audrey Hepburn would have been in heaven. Instead of Breakfast at Tiffany’s, she could have had breakfast, lunch and dinner on Tiffany’s - every day of the week.

Audrey Hepburn
(as she looked in younger
 film-playing days)

Time for a script rewrite when it comes to the Palm Beach penthouse that sits atop Tiffany’s -  the store that brings tears of joy to so many women.

 No need to catch a cab or bus or walk more than a few feet to one of the world’s premier jewelry stores.

 

 With the main structure completed and considering its unique and enviable location directly on Worth Avenue, South Florida’s Rodeo Drive, the builder felt the buyer would have specific design tastes and is selling the space unfinished at auction on March 15.

 

With a figure of around $20 million in mind, according to

TopTenRealEstateDeals.com.

 

               Worth Avenue Shops, Palm Beach, FL

Just like Tiffany’s, some institutions never change, like window shopping on Palm Beach’s glitzy Worth Avenue.

 The epicenter of the ritzy town where the wealthy shop at Chanel, Gucci, Lilly Pulitzer and Tiffany’s. Before they head out to their yachts, polo matches and dinner at the Everglades Club where billionaires enjoy socializing with their peers.

Mar-a-Lago estate, Palm Beach, FL

Not too far from President Trump’s Mar-a-Lago or the former Joseph Kennedy family mansion that sold in 2020 for $70 million. 

 

New owners of the building, Kean Developers, have turned the second floor above Tiffany into a five-bedroom, seven-and-a-half bath residence with staff quarters totaling 13,000 square feet, including the new upper level. 

 

 Notably, they added a level to include a rooftop terrace with swimming pool, game room, bar and gym.

Everglades Golf Club

There is also a rooftop glass-walled pergola, spa and waterfall. Located near the center of Palm Beach, it is just a few steps to the Atlantic Ocean to the east, the Intracoastal Waterway to the west, and the Everglades Golf Club greens just across the street.

 

The yet-to-be-completed Tiffany Building penthouse is currently listed with John Reynolds and Gary Pohrer of  Douglas Elliman, Palm Beach, at $19.5 million while waiting to hit the auction block on March 15th.

 

CONTACT:

Genelle C. Brown

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat

Photo credit:  Concierge Auctions
Source:  TopTenRealEstateDeals.com 

 Renderings credit:  Concierge Auctions

Source: www.conciergeauctions.com 

 

Stan Johnson Co. Arranges $21 Million Sale of Mississippi Distribution Facility

Maggie Holmes 

GRENADA, MS -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant industrial facility leased to Advanced Distributors Products, the leading producer of residential evaporator coils in the nation. 

The 288,000-square-foot property is located at 445 American Way in Grenada, Mississippi and serves as the distribution center for the tenant’s manufacturing plant located less than one mile east of the property. 

Mike Sladich and Maggie Holmes of Stan Johnson Company represented the seller, an Illinois-based industrial developer, Agracel, Inc. Typically long-term holders, Agracel, Inc. recognized a unique opportunity to sell and took advantage of the current market dynamics. 

The buyer was a Dallas, Texas-based REIT. The property sold for approximately $21.3 million.

Mike Sladich 

“There continues to be strong investor demand for new industrial product, especially fungible warehouse space like ADP Grenada. We received a lot of interest from both institutional and private buyers, and we ultimately sold at full ask to an institution who closed in 45 days,” said Holmes, Director in Stan Johnson Company’s Atlanta, Georgia office. 

“At $74 per square foot, the property was placed well below replacement cost, and with construction costs still on the rise, this was an important metric to investors.”

 CONTACT:

 Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

www.stanjohnsonco.com.

KAI Design Welcomes Jake Wagoner, AIA, as Project Architect in its St. Louis, MO Office

Jake Wagoner

 St. Louis, MO -- KAI Design is pleased to announce the hiring of Jake Wagoner, AIA, NCARB, EDAC, LEED Green Associate, as Project Architect at its St. Louis office.

Wagoner has 13 years of industry design experience, with expertise in conceptual design layout, evidence-based design, sustainable building practices and construction administration.   “KAI is elated to have Jake join our design practice in St. Louis. Almost immediately he dove into several projects, all at different design phases and showcased his flexibility, collaborative style and technical skills,” said KAI Managing Partner Brad Simmons, FAIA.  Brad Simmons   Prior to KAI, Wagoner worked as a Project Architect for HOK in St. Louis where he designed renovations to Saint Francis Hospital’s Central Sterile Processing Department in Tulsa, Oklahoma, and also worked on the conceptual design for Indiana University Health’s $2 billion campus.    Wagoner has a Bachelor of Science in Business Administration from Saint Louis University and a Master of Architecture from Texas A&M University. He is a registered architect in Texas and is also certified through NCARB, EDAC and the U.S. Green Building Council.   CONTACT: Jennifer Beidle 314-607-9459 jennifer@jbeidlepr.com  www.kai-db.com.

Ware Malcomb Hires Julio Braga as Regional Design Director in New York City office

 Julio Braga

NEW YORK, NY, March 2, 2022 – Ware Malcomb, an award-winning international design firm, today announced that Julio Braga has joined the firm as Regional Design Director in the firm’s New York City office.

 He is responsible for the leadership of the Design Studio that supports Ware Malcomb’s Northeast Region. He will provide strategy and design for select projects, management and mentorship of the regional design teams, and collaborate with firmwide design initiatives. 

Braga brings more than 30 years of architecture and interior design experience to Ware Malcomb, including award-winning projects for financial, technology, law, advertising and media clients. 

He spent the last 15 years at a leading design firm’s New York City office, most recently in the position of Co-Managing Director. 

 Bill Sotomayor

“Julio’s wealth of knowledge, superior design skills and strong leadership experience make him an excellent addition to Ware Malcomb. We are excited to see the impact he will make on our incredible team,” said Bill Sotomayor, Principal at Ware Malcomb.

Braga holds a diploma in Architecture from the University of Buenos Aires, Argentina. He is an International Interior Design Association (IIDA) Fellow and formerly President of IIDA’s International Board of Directors. 

He received the Design Leadership Award from IIDA’s New York Chapter in 2017. Braga has also served as a judge on many domestic and international design competitions and awards programs and has participated in numerous industry panels on workplace design.

CONTACTS:

Rachel Reenders

VP Public Relations

KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, PR & Communications Manager, 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

JLL Hires Kevin Tranbarger for its Project and Development Services (PDS) team

Kevin Tranbarger 

 IRVINE, CA – JLL announced Kevin Tranbarger has been named as West Coast Multi-Site Projects Lead based in the firm’s Irvine, CA office.

Tranbarger previous served as Senior Director of Retail Projects for JLL Asia Pacific.

“JLL is continually looking to enhance its multimarket service offerings to its clients with multi-site program and project management being a key growth area," said Adam Lutz, West Client Solutions Executive.

"Kevin is the perfect fit to grow our multi-site practice on the West Coast with his vast global experience and deep understanding of our industry sectors.”

Adam Lutz

Tranbarger spent 26 years in Asia Pacific, most recently with JLL, where he was responsible for growing the firm’s portfolio of retail clients across the design, project management and construction fields. 

 Previously, he served as Vice President, Global Store Development for DFS (an LVMH Group Company) followed by a stint of consulting with MAD Network, before joining JLL in Hong Kong.

 

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

jll.com.

Business Leader John Crossman Replacing Retiring Dick Batchelor on Orlando Housing Authority

 

John Crossman

ORLANDO, FL  –  Business Leader John Crossman, CEO of CrossMarc Services and Crossman Career Builders, was appointed to the Orlando Housing Authority (OHA) for a four-year term.

 Mayor Buddy Dyer appointed Crossman to replace retiring former Florida House member Dick Batchelor.

 

The appointment was supported by Batchelor and fellow Commissioner Robert Stuart.

 

“It is a huge honor to be appointed by Mayor Dyer and to also receive the support of Commissioner Stuart and Dick Batchelor.  I am grateful for their support and confidence in me,” said Crossman. 

Dick Batchelor

Established in 1938, the OHA is an independent public corporation funded primarily by the United States Department of Urban Development (HUD) and governed by the seven-member Board of Commissioners appointed by the City’s Mayor.         .  

 

The board meets monthly to address the issues involved in the OHA’s mission to provide a variety of safe, sanitary, accessible, decent and affordable housing to eligible citizens of the city of Orlando, while enhancing and promoting resident self-sufficiency.

 

 CONTACTS:

 

John Crossman, CEO, Crossman Career Builders / CrossMarc Services, 407-341-3895 jcrossman@crossmancb.com 

 

Beth Payan, Larry Vershel Communications Inc. 407-461-3781 or beth@larryvershel.com   

 

GO Industrial Buys Land in East and West Phoenix for 1.28 Million SF of Spec Industrial

 

Spec industrial land in East and West Phoenix totals 1.28 Million SF  

 

Robert Guerena

 PHOENIX, AZ  -– Phoenix-based GO Industrial has purchased land parcels on each side of metro Phoenix for the development of more than 1.28 million square feet in two fully speculative, Class A industrial projects: GO | 99 North and GO | AZ Ave.

 

“Phoenix has demand swelling on many levels and across numerous submarkets, and we plan accordingly with projects that are diversified in location, product size and function,” said GO Industrial Managing Partner Robert Guerena.

 “Our two latest projects reflect the requirements of their own unique submarkets, with GO | 99 North targeting the global industrial users of the established West Valley and GO | AZ Ave responding to demand from the East Valley’s rapidly emerging and highly innovative middle market.”

Andy Markham

Andy Markham, Mike Haenel and Phil Haenel of Cushman and Wakefield represented GO Industrial in the GO | 99 North land acquisition. Cooper Fratt and John Werstler of CBRE represented the company in the GO | AZ Ave land buy.

 

The architect for both projects is DLR Group. General contractors have not yet been selected.

 

Representing the broad demand for Phoenix industrial space, the projects are located at Buckeye Road and 99^th Avenue in Phoenix’s West Valley, and along Arizona Avenue, near Germann Road and just south of the Loop 202 freeway in Chandler, Arizona, in Phoenix’s East Valley.

Mike Haenel

The West Valley project is GO | 99 North, a single building totaling 1.1 million square feet on 70 acres.

 

It is the continuation of GO Industrial’s 1.3-million-square-foot GO | 99 industrial project, now under development at the same intersection.

 

Together, the two projects will bring a total of 2.4 million square feet to the market.

 

The East Valley project is GO | AZ Ave, also a single building, totaling 181,655 square feet on 10 acres and representing GO Industrial’s debut in the East Valley submarket.

Phil Haenel

GO | 99 North will feature 40’ clear height, concrete truck courts, 217 trailer and 1,315 auto parking stalls.

 

It is scheduled to break ground during the third quarter of 2022. GO | AZ Ave. will feature 32’ clear height, concrete truck courts, 53 trailer and 212 auto parking stalls. It is scheduled to break ground during the second quarter of 2022.

 

Both projects will be delivered AC ready, and both land sites were purchased from private individuals for a collective price of approximately $40 million.

 

CONTACT:

 

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

www.GOIndustrial.net.

 

DWNTWN Realty Advisors’ Tony Arellano and Devlin Marinoff Close $11.5 Million Sale of Premier Commercial Development Site in Miami’s Wynwood

 

SOLD: Premier Commercial Development
 Site in Miami’s Wynwood District

MIAMI, FL, Feb. 28, 2022 – DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff, the premier investment sales and leasing brokers in Miami’s urban core, completed another successful property sale in Wynwood.

Tony Arellano

The duo represented the seller, Gabriele Braha Izsak’s Red Group, in the $11.5 million sale of a commercial development site at 328 NW 29th Street.

“This property is positioned within the pedestrian heart of Wynwood and at the intersection of two of the neighborhood’s most significant streets: NW 29th Street and 3^rd Avenue,” Arellano said.

 

“The use of this building as a creative space and showroom will be perfectly executed by the buyer.”

Devlin Marinoff

The property features high lofted ceilings and quick access to highways. It is walking distance to some of Wynwood’s most notable projects and landmarks, including the 430-space Wynwood Parking Garage.

 

“This development site takes advantage of T6-8-O zoning, Wynwood's most liberal commercial zoning, allowing for development up to 12 stories for sweeping views of this unparalleled urban neighborhood, making it one of the best deals in Wynwood in recent years,” said Braha, Red’s President & Managing Partner.

 

The firm has participated in more than $350 million in investment and development sales in Wynwood over the last few years and has more than $175 million in pending transactions in the neighborhood.

Gabriele Braha Izsak

About DWNTWN Realty Advisors

Founded by seasoned real estate professionals Devlin Marinoff and Tony Arellano, DWNTWN Realty Advisors is a leading commercial real estate brokerage based in Miami. 

The firm’s brokers have an unparalleled depth of knowledge about the urban core neighborhoods and other markets they serve. 

DWNTWN operates with a unique territory-based approach, as each broker brings a specific product and market specialty to the firm. 

 

 

CONTACTS:

 

Eric Kalis

BoardroomPR

954-370-8999

ekalis@boardroompr.com

 

 

Hannah Colson

Senior Account Executive

 BoardroomPR

hcolson@boardroompr.com

O 954-370-8999 

C 954-258-2118

 

https://dwntwnrealtyadvisors.com/inventory.

www.dwntwnrealtyadvisors.com.