WEST PALM BEACH, FL—NAI/Merin Hunter Codman director Lesley Sheinberg has been named its 2016 Broker of the Year after completing 250,000 square feet in commercial real estate transactions in 2016. Sheinberg, a 20-year commercial real estate veteran, specializes in office leasing and investment sales for a wide variety of institutional and private equity clients including JP Morgan, Equus Capital Partners and Lionstone Investments. She is also recognized as a leading Palm Beach County medical office expert. Sheinberg provides advisory and site selection services throughout the state of Florida.

DEAL TRACKER

ORLANDO—Marcus & Millichap brokered the sale of Shoreview at Baldwin Park, a 184-unit multifamily community in Orlando. The 14.1 million sales price equates to nearly $77,000 per unit. “Shoreview at Baldwin Park provides new ownership with a prime opportunity to enhance value via interior upgrade premiums, a strategy that will be supported by Orlando's healthy economic fundamentals,” says Francesco Carriera, senior managing director investments in Marcus & Millichap's Tampa office. “Strong tenant demand and steady household formation reduced vacancy in Orlando for an eighth consecutive year in 2016 and another year of vigorous employment growth is expected to drive positive in-migration and fuel further household formation in 2017.”

WEST PALM BEACH, FL—CBRE Hotels arranged the sale of one of the three office buildings at The Forum on Palm Beach Lakes Boulevard. The property, purchased by Houston Baseball Partners, LLC, is planned for conversion into a 160-room hotel. CBRE Hotels' Christian Charre, Paul Weimer and Natalie Castillo represented the seller, CP Forum LLC, which will retain ownership of the remaining two office buildings at the project. “The marketing process for this property was quite interesting, as it presented the rare opportunity to own a new hotel in a prime location in South Florida at a significant discount to replacement cost,” says Charre. “We were able to attract interest from top developers and operators by showcasing the strength and demand in the West Palm Beach lodging market, which has a year-end 2016 average daily rate of $168 and 72.5% occupancy. Additionally, there are several demand generators which are expected to further reinforce the market, such as the state-of-the-art convention center, Ballpark of the Palm Beaches and the upcoming All Aboard Florida station in downtown West Palm Beach.”

SNEADS, FL—Marcus & Millichap brokered the sale of Hatton House Senior Apartments, a 76-unit multifamily community located in Sneads. The asset sold for $2,15 million. Joshua Teplitzky, senior associate, Cameron Barbas, associate, Francesco P. Carriera, senior managing director investments, and Michael P. Regan, senior managing director investments, in M&M's Tampa office along with Dan Linnell, first vice president investments, Mox Gunderson, vice president investments, and Josh Talberg, senior associate, in the firm's Minneapolis office, all represented the seller, a private investor. The buyer was secured and represented by Teplitzky, Barbas, Carriera and Regan.

MIAMI GARDENS, FL—Cushman & Wakefield negotiated the sale of a Park Centre, a 57,105-square-foot office building at 1111 Park Centre Boulevard. Director Miguel Alcivar, managing director Dominic Montazemi and executive director Scott O'Donnell represented N.R. Park Centre, LLC in the disposition. 1111 PCB Holdings LLC acquired the asset for $8.5 million, or $149 per square foot. Keller Williams Realty's Lorne Gornitsky, Lysis Real Estate Development's Ipek Courtney and Alejandro Jordan, Esq. with Jordan + Pacale, P.L. represented the buyer. “Park Centre provided the buyer an opportunity to acquire a stabilized office property that competes favorably in the Northeast Dade office submarket due to its curb appeal, 'regional' advantage from immediate access to the Golden Glades Interchange and relative value proposition vis-à-vis pricier alternatives in Aventura,” says Alcivar. The South Florida commercial team of O'Donnell, Montazemi, Alcivar, senior associate Greg Miller and debt financing partner Jason Hochman closed more than $524 million in sales and financing in 2016.

BUILDING BLOCKS

MIAMI—Sales have launched for Canarias- a new, luxury development by Codina-Carr Homes comprised of single-family homes and townhomes in The Residences at Downtown Doral. At build-out, Canarias in The Residences at Downtown Doral will feature 343 single-family estate homes and 52 townhomes. Single-family homes in the Bali Collection, the largest residences, range in price from $1.1 million to $1.4 million and beyond. Single-family homes in the Fiji Collection are slightly smaller and are all priced in the $800,000s. The Tahiti townhome collection offers pricing from the $590,000s to $700,000s. Floor plans range from 1,687 square feet to more than 4,780 square feet under air.

Early this week in Florida we're seeing interesting activity in West Palm Beach and some news on the single-family home front that will turn heads. Hotels, multifamily and office are part of the story line this week.

BY THE NUMBERS

The Palm Beach office market remains on track for continued growth as indicated by continued leasing and investment activity. Throughout 2016, over $800 million in total volume traded hands, including the sale of Esperanté Corporate Center in West Palm Beach for $126 million. (Avison Young)

NEWS & NOTABLES

WEST PALM BEACH, FL—NAI/Merin Hunter Codman director Lesley Sheinberg has been named its 2016 Broker of the Year after completing 250,000 square feet in commercial real estate transactions in 2016. Sheinberg, a 20-year commercial real estate veteran, specializes in office leasing and investment sales for a wide variety of institutional and private equity clients including JP Morgan, Equus Capital Partners and Lionstone Investments. She is also recognized as a leading Palm Beach County medical office expert. Sheinberg provides advisory and site selection services throughout the state of Florida.

DEAL TRACKER

ORLANDO—Marcus & Millichap brokered the sale of Shoreview at Baldwin Park, a 184-unit multifamily community in Orlando. The 14.1 million sales price equates to nearly $77,000 per unit. “Shoreview at Baldwin Park provides new ownership with a prime opportunity to enhance value via interior upgrade premiums, a strategy that will be supported by Orlando's healthy economic fundamentals,” says Francesco Carriera, senior managing director investments in Marcus & Millichap's Tampa office. “Strong tenant demand and steady household formation reduced vacancy in Orlando for an eighth consecutive year in 2016 and another year of vigorous employment growth is expected to drive positive in-migration and fuel further household formation in 2017.”

WEST PALM BEACH, FL—CBRE Hotels arranged the sale of one of the three office buildings at The Forum on Palm Beach Lakes Boulevard. The property, purchased by Houston Baseball Partners, LLC, is planned for conversion into a 160-room hotel. CBRE Hotels' Christian Charre, Paul Weimer and Natalie Castillo represented the seller, CP Forum LLC, which will retain ownership of the remaining two office buildings at the project. “The marketing process for this property was quite interesting, as it presented the rare opportunity to own a new hotel in a prime location in South Florida at a significant discount to replacement cost,” says Charre. “We were able to attract interest from top developers and operators by showcasing the strength and demand in the West Palm Beach lodging market, which has a year-end 2016 average daily rate of $168 and 72.5% occupancy. Additionally, there are several demand generators which are expected to further reinforce the market, such as the state-of-the-art convention center, Ballpark of the Palm Beaches and the upcoming All Aboard Florida station in downtown West Palm Beach.”

SNEADS, FL—Marcus & Millichap brokered the sale of Hatton House Senior Apartments, a 76-unit multifamily community located in Sneads. The asset sold for $2,15 million. Joshua Teplitzky, senior associate, Cameron Barbas, associate, Francesco P. Carriera, senior managing director investments, and Michael P. Regan, senior managing director investments, in M&M's Tampa office along with Dan Linnell, first vice president investments, Mox Gunderson, vice president investments, and Josh Talberg, senior associate, in the firm's Minneapolis office, all represented the seller, a private investor. The buyer was secured and represented by Teplitzky, Barbas, Carriera and Regan.

MIAMI GARDENS, FL—Cushman & Wakefield negotiated the sale of a Park Centre, a 57,105-square-foot office building at 1111 Park Centre Boulevard. Director Miguel Alcivar, managing director Dominic Montazemi and executive director Scott O'Donnell represented N.R. Park Centre, LLC in the disposition. 1111 PCB Holdings LLC acquired the asset for $8.5 million, or $149 per square foot. Keller Williams Realty's Lorne Gornitsky, Lysis Real Estate Development's Ipek Courtney and Alejandro Jordan, Esq. with Jordan + Pacale, P.L. represented the buyer. “Park Centre provided the buyer an opportunity to acquire a stabilized office property that competes favorably in the Northeast Dade office submarket due to its curb appeal, 'regional' advantage from immediate access to the Golden Glades Interchange and relative value proposition vis-à-vis pricier alternatives in Aventura,” says Alcivar. The South Florida commercial team of O'Donnell, Montazemi, Alcivar, senior associate Greg Miller and debt financing partner Jason Hochman closed more than $524 million in sales and financing in 2016.

BUILDING BLOCKS

MIAMI—Sales have launched for Canarias- a new, luxury development by Codina-Carr Homes comprised of single-family homes and townhomes in The Residences at Downtown Doral. At build-out, Canarias in The Residences at Downtown Doral will feature 343 single-family estate homes and 52 townhomes. Single-family homes in the Bali Collection, the largest residences, range in price from $1.1 million to $1.4 million and beyond. Single-family homes in the Fiji Collection are slightly smaller and are all priced in the $800,000s. The Tahiti townhome collection offers pricing from the $590,000s to $700,000s. Floor plans range from 1,687 square feet to more than 4,780 square feet under air.