MIAMI-Dockerty Romer & Co. arranged the funds to refinance Michael's Plaza, an 85,000-sf retail center across the street from Pembroke Lakes Mall in Pembroke Pines, FL. The financing was obtained from Fidelity Federal Bank & Trust.
MIAMI-Four companies recently inked deals at the 97%-occupied, 2.3 million-sf, class A, mixed-use business park here. The largest lease was with International Tires Corp., which signed for 43,000 sf. Overall, brokers are encouraged by the leasing activity at the park this year.
MIAMI-The company is growing, and the property owner is building out new space down the street to accommodate its needs. Tropicana, which has been a tenant in the park for 10 years, is moving from about 18,000 sf to 25,238 sf.
MIAMI-The tenant, MCI/Worldcom, is in Chapter 11 protection under the U.S. Bankruptcy Code. In a unique deal, the company expanded its lease by 10,000 sf and two years in a $300,000 transaction.
MIAMI-The Boca Raton, FL-based company, which was formed as a Website development firm, now plans to pursue acquisitions of companies involved in real estate and wireless telecom. The move follows investor Rohit Patel's recent acquisition of a controlling interest in the company.
MIAMI-The company occupies 12,627 sf at Miramar Park of Commerce in a mid-term deal valued at an estimated $320,000-plus. The distributor of Herman Miller furniture products has 20 employees there and plans to open a showroom in May in Coral Gables, FL.
MIAMI BEACH-The commercial laundry company, based in Cambridge, MA, signed a five-year deal estimated to be valued at $734,000 in Miramar Park of Commerce. For four years previously, the company had sub-leased space in the park.
MIAMI BEACH-The Coral Gables, FL-based company offers commercial leasing and sales services, along with property management, tenant representation, consulting and lease audits. Principal B. William Hoolihan, a certified public accountant, heads the firm.
MIAMI-Corporate Property Associates 15 Inc., an affiliate of investment firm W.P. Carey & Co. LLC, has acquired and leased back the prepaid calling card company's 270,000-sf-plus headquarters and distribution facility that is under construction here.
MIAMI-Katz will service industrial tenants and property owners in South Florida transactions. Before he joined Trammell Crow, Katz was senior managing director in Insignia/ESG Inc.'s Industrial Services Group in New Jersey.