NEWS & NOTABLES

WEST PALM BEACH, FL—NAI/Merin Hunter Codman welcomes Eliot H. Goldstein as a commercial associate. Goldstein, who holds a Bachelor's of Science and a Master's of Science degree in Mechanical Engineering from Florida State University, will be working with NAI/Merin Hunter Codman principal Spencer Grossman on a variety of commercial investment and leasing assignments specializing in retail and industrial properties. Goldstein joins NAI/Merin Hunter Codman following two years with a local commercial real estate firm where he was instrumental in completing several million dollars of transactions. Prior to working in the commercial real estate industry Goldstein enjoyed a successful eight-year engineering career at Lockheed Martin.

MIAMI—Jeremy Larkin, co-chairman of NAI Miami, was named chairman of the NAI Global Members' Leadership Board. The NAI Leadership Board provides leadership that aims to increase the profitability, professionalism, technical capability, integrity and standards of practice that reinforce and foster mutual trust and respect throughout the enterprise. It promotes activities, education and communication that elevate the level of engagement and productivity of Members, Agents and the Organization at-large.

DEAL TRACKER

LAUDERHILL, FL—Cushman & Wakefield negotiated the sale of Executive University Courts, a 97,125-square-foot office campus in Broward County. Managing director Dominic Montazemi, senior associate Greg Miller and executive director Scott O'Donnell represented Kas University LLC in the disposition. MYP Executive acquired the asset for $9.3 million, or $96 per square feet. “The property's visibility and above-average parking, as well as the strong population density in the immediate submarket, are tremendous demand drivers for potential tenants,” says Montazemi. “The layout of the buildings also provides tenants direct access to their suites and an enhanced level of privacy.”

NAPLES, FL—Lee Weaver, senior vice president/senior director of NorthMarq Capital's Tampa regional office and Melissa Marcolini-Quinn, senior vice president/managing director of NorthMarq Capital's Orlando regional office, collaborated to arrange acquisition financing of $21.15 million for Berkshire Reserve, a 146-unit multifamily property located in Naples. The multifamily complex features numerous amenities and is located nearby Golden Gate Community Park.

AVENTURA, FL—Cushman & Wakefield been named exclusive leasing advisor for Aventura Corporate Center, a three-building, 252,244-square-foot class A office park in northeastern Miami-Dade County. Senior director John O'Neil was selected to lease the property by New York-based owner Renaissance Properties, which acquired Aventura Corporate Center in May 2016. Aventura Corporate Center is a luxury office park comprising three buildings at 20801, 20803 and 20807 Biscayne Boulevard.

FERNANDINA BEACH, FL—HFF closed the sale of the Seaside Amelia Inn, a 46-room beachfront hotel in the Amelia Island community of Fernandina Beach. HFF marketed the property on behalf of the seller, TRU Hotels & Resorts. Innisfree Hotels purchased the asset free and clear of debt and unencumbered of management. The HFF investment sales team representing the seller was led by associate directors Preston Reid and Alexandra Lalos and senior managing director Michael Weinberg. “Northeast Florida has shown strong performance growth in last 12 months, emerging as a new highly desirable Florida beachfront market,” Lalos says.

HOLLYWOOD, FL—Cushman & Wakefield negotiated the sale of 2700 Hollywood Boulevard, a two-building, 23,129-square-foot office campus. The retail brokerage team of senior director Greg Masin, associate Andrea Vigil and director Frank Begrowicz negotiated the $6.3 million disposition on behalf of CSM-Hollywood Equities, LP, an affiliate of Rabina Properties, an 18-year client of the firm. The buyer was an affiliate of Elite Plastic Surgery.

DORAL, FL—NAI Miami's John Erixon and Harry Jordan recently negotiated a 38 month, 13,815 square foot office lease for their client, FUJI Film Medical Systems, located at 11900 Southwest 128th Street in Doral, Florida. The landlord is Flyer Ventures. FUJIFILM Medical Systems is a leading provider of medical image and information products and technologies for acquiring, processing, managing and storing diagnostic images and related data.

WEST PALM BEACH, FL—Marcus & Millichap brokered the sale of 4545 Center, a 19,900-square foot retail property located in West Palm Beach. The asset sold for $2.233 million. Elon D. Gerberg, associate, in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership, and he secured the buyer, a private investor. 4545 Center is a 19,900-square foot retail strip center located at 4545 Forest Hill Boulevard in West Palm Beach. “This was a very competitive deal,” says Gerberg. “I conducted 18 property tours and received multiple offers within a few weeks of bringing the property to the market.”

TAMPA, FL—Marcus & Millichap brokered the sale of Holly & Pleasant Oaks Apartments, a 56-unit apartment property located in Tampa. The asset sold for $2.218 million. Casey Babb, Luis Baez, Shawn Rupp, Nicholas Meoli, Ned Roberts and Michael Donaldson, investment specialists in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. They also represented the buyer, a private investor. office. “The attractive price per unit garnered significant buyer interest and offers from investors in multiple states,” says Ned Roberts, associate in Marcus & Millichap's Tampa office.

This week in Florida saw an encouraging medical office report debut. NAI was especially active, along with Florida's smaller markets.

BY THE NUMBERS

Overall vacancy of medical office space in Central Florida has steadily decreased since 2011, falling another 2.8 percentage points over the past year to 6%. That trend will continue, and vacancies will fall further over the next year. (Source: Cushman & Wakefield)

Direct triple net asking rents for medical office space jumped 11.7% year-over-year to $19.12 per square foot per month. Spencer expects rent growth to continue through the first quarter of 2018. (Source: Cushman & Wakefield)

NEWS & NOTABLES

WEST PALM BEACH, FL—NAI/Merin Hunter Codman welcomes Eliot H. Goldstein as a commercial associate. Goldstein, who holds a Bachelor's of Science and a Master's of Science degree in Mechanical Engineering from Florida State University, will be working with NAI/Merin Hunter Codman principal Spencer Grossman on a variety of commercial investment and leasing assignments specializing in retail and industrial properties. Goldstein joins NAI/Merin Hunter Codman following two years with a local commercial real estate firm where he was instrumental in completing several million dollars of transactions. Prior to working in the commercial real estate industry Goldstein enjoyed a successful eight-year engineering career at Lockheed Martin.

MIAMI—Jeremy Larkin, co-chairman of NAI Miami, was named chairman of the NAI Global Members' Leadership Board. The NAI Leadership Board provides leadership that aims to increase the profitability, professionalism, technical capability, integrity and standards of practice that reinforce and foster mutual trust and respect throughout the enterprise. It promotes activities, education and communication that elevate the level of engagement and productivity of Members, Agents and the Organization at-large.

DEAL TRACKER

LAUDERHILL, FL—Cushman & Wakefield negotiated the sale of Executive University Courts, a 97,125-square-foot office campus in Broward County. Managing director Dominic Montazemi, senior associate Greg Miller and executive director Scott O'Donnell represented Kas University LLC in the disposition. MYP Executive acquired the asset for $9.3 million, or $96 per square feet. “The property's visibility and above-average parking, as well as the strong population density in the immediate submarket, are tremendous demand drivers for potential tenants,” says Montazemi. “The layout of the buildings also provides tenants direct access to their suites and an enhanced level of privacy.”

NAPLES, FL—Lee Weaver, senior vice president/senior director of NorthMarq Capital's Tampa regional office and Melissa Marcolini-Quinn, senior vice president/managing director of NorthMarq Capital's Orlando regional office, collaborated to arrange acquisition financing of $21.15 million for Berkshire Reserve, a 146-unit multifamily property located in Naples. The multifamily complex features numerous amenities and is located nearby Golden Gate Community Park.

AVENTURA, FL—Cushman & Wakefield been named exclusive leasing advisor for Aventura Corporate Center, a three-building, 252,244-square-foot class A office park in northeastern Miami-Dade County. Senior director John O'Neil was selected to lease the property by New York-based owner Renaissance Properties, which acquired Aventura Corporate Center in May 2016. Aventura Corporate Center is a luxury office park comprising three buildings at 20801, 20803 and 20807 Biscayne Boulevard.

FERNANDINA BEACH, FL—HFF closed the sale of the Seaside Amelia Inn, a 46-room beachfront hotel in the Amelia Island community of Fernandina Beach. HFF marketed the property on behalf of the seller, TRU Hotels & Resorts. Innisfree Hotels purchased the asset free and clear of debt and unencumbered of management. The HFF investment sales team representing the seller was led by associate directors Preston Reid and Alexandra Lalos and senior managing director Michael Weinberg. “Northeast Florida has shown strong performance growth in last 12 months, emerging as a new highly desirable Florida beachfront market,” Lalos says.

HOLLYWOOD, FL—Cushman & Wakefield negotiated the sale of 2700 Hollywood Boulevard, a two-building, 23,129-square-foot office campus. The retail brokerage team of senior director Greg Masin, associate Andrea Vigil and director Frank Begrowicz negotiated the $6.3 million disposition on behalf of CSM-Hollywood Equities, LP, an affiliate of Rabina Properties, an 18-year client of the firm. The buyer was an affiliate of Elite Plastic Surgery.

DORAL, FL—NAI Miami's John Erixon and Harry Jordan recently negotiated a 38 month, 13,815 square foot office lease for their client, FUJI Film Medical Systems, located at 11900 Southwest 128th Street in Doral, Florida. The landlord is Flyer Ventures. FUJIFILM Medical Systems is a leading provider of medical image and information products and technologies for acquiring, processing, managing and storing diagnostic images and related data.

WEST PALM BEACH, FL—Marcus & Millichap brokered the sale of 4545 Center, a 19,900-square foot retail property located in West Palm Beach. The asset sold for $2.233 million. Elon D. Gerberg, associate, in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership, and he secured the buyer, a private investor. 4545 Center is a 19,900-square foot retail strip center located at 4545 Forest Hill Boulevard in West Palm Beach. “This was a very competitive deal,” says Gerberg. “I conducted 18 property tours and received multiple offers within a few weeks of bringing the property to the market.”

TAMPA, FL—Marcus & Millichap brokered the sale of Holly & Pleasant Oaks Apartments, a 56-unit apartment property located in Tampa. The asset sold for $2.218 million. Casey Babb, Luis Baez, Shawn Rupp, Nicholas Meoli, Ned Roberts and Michael Donaldson, investment specialists in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. They also represented the buyer, a private investor. office. “The attractive price per unit garnered significant buyer interest and offers from investors in multiple states,” says Ned Roberts, associate in Marcus & Millichap's Tampa office.