The Real Deal Miami

Posts Tagged ‘flagler real estate services’

  • GE sells Doral industrial site

    June 07, 2012 12:00PM

    Flagler Real Estate Services has closed on the sale of an industrial property in Doral for $2.28 million. GE was the seller of the property, which is located at 7979 NW 29th Street in Doral. The buyer was HAKG Property, a limited liability company. Cary Cohen, vice president at Flagler Real Estate Services, was the broker on the transaction. HAKG will use the site as a transportation and storage facility. — Alexander Britell

  • One of the buildings in the Weston portfolio

    A 61,264-square-foot office portfolio in Weston has been sold to two Florida-based limited liability companies for $16.1 million.

    Sterling Investments I and Sterling Investments II, both of which list Mark Toennes as manager, purchased the properties. [more]

  • Florida Career College inks lease in Miami

    September 14, 2011 04:02PM

    Florida Career College inked a 12-year lease for 45,409 square feet in Miami. The school will be based out of One Seventeen Professional Arts Center at 11731 Mills Drive. Colliers International and Flagler Real Estate Services represented landlord TCPC Associates while Grubb & Ellis brokers Mitchell Millowitz and Ryan Rosalsky acted on behalf of the school. TIAA-CREF owns the two Class A office buildings at that address, and earlier this year leased 65,000 square feet to Vitas. [SFBJ]

  • Telemundo Studios has signed a 35,804-square-foot lease at Pitts Building and Yard in Miami as part of a move to broaden its production facilities in the city. Flagler Real Estate Services represented landlord Pitts Engine and Transmission in a three-and-a-half-month negotiation with Telemundo Television Studios. The building is located at 7370 NW 43 Street, and was previously the site of the parts and services department of Pitts Engine and Transmission, a part distributor. Cary Cohen handled the deal for Flagler. — Alexander Britell

    1 Comment
  • Miami office market active, but fragmented

    September 07, 2011 11:22AM

    Clockwise from left: 1450 Brickell, Wells Fargo Financial Center, Flagler Real Estate Service’s Jack Lowell, analyst Jack McCabe and CB Richard Ellis’ Ken Krasnow

    From the ashes of the real estate downturn, two large office towers have emerged in downtown Miami. Predictably, 1450 Brickell and the Wells Fargo Financial Center have received much of the attention — and many of the new tenants — in the city’s Central Business District. In the shadow of those two towers, however, is an increasingly fragmented office market. “It’s very hard to paint the market in broad brushes,” said Kenneth Krasnow, a managing director at CB Richard Ellis in Miami. “I think it’s always been difficult to do that, but increasingly it’s gotten more difficult. It’s really become submarket-to-submarket, almost building-by-building.” … [more]


  • The Panama Canal

    The expansion of the Panama Canal, a move that will mean the arrival of
    so-called super-ships to the Port of Miami, is helping to drive
    investment in Miami’s industrial market. While the project won’t
    be finished until 2014, the canal is casting a large shadow on the
    sector — and could ultimately bring new industrial space to the area. “I
    think it’s very much on the minds of investors,” said Greg Zeifman,
    senior associate at Marcus & Millichap. “I’m seeing investors,
    especially the institutional crowd, being very bullish on the Miami
    industrial sector, and I think that’s one of many reasons.” … [more]

  • Flagler Real Estate Services is expanding into retail and multi-family real estate by forming alliances with two firms, retail brokerage DBR & Associates and multi-family developer and manager Auker Developments, according to FRES President Pike Rowley. By acquiring DBR, the company gains a 2.5 million-square-foot portfolio of 40 retail properties in the Southeastern and Atlantic states, valued at $400 million. Auker has managed over 5,000 multi-family units in the same region. “This exemplifies our commitment to the growth of our third-party services business,” Rowley said. — Alexander Britell[more]

  • Two buildings, 1450 Brickell and Wells Fargo Financial Center, added more than 1.3 million square feet to the Miami downtown office market last year — hiking up the vacancy rate and leaving many office towers in the position of “feeder buildings” as tenants headed to newer space in a buyer’s market. Now, as the two giants begin to fill up, downtown Miami’s existing buildings are beginning do what they can to compete with them — largely by holding on to their own tenants. Earlier this month, the Brickell Bay Office Tower announced that it had closed on 70,000 square feet in leases last year, with 13 new leases and six renewals. … [more]

    1 Comment
  • At the far edge of unincorporated Miami-Dade County, just a few miles east of the Everglades, is one of the area’s most recent industrial success stories. Beacon Lakes Business Park, a joint venture of Flagler and AMB Property Corporation, reached 100 percent occupancy on all of its leasable space at the end of 2010 and is part of an Airport West submarket that is driving Miami’s already-strong industrial market. “It has very close proximity to the Everglades, the Port of Miami and the airport cargo area of Miami Airport,” said George Pino, senior vice president at Flagler Real Estate Services, the company’s brokerage wing. “It’s really a perfect place for any logistics company to do business.” The site’s activity was highlighted by a 173,312-square-foot lease renewal by Ryder at the end of the year. … [more]

  • Ryder renews in Beacon Lakes

    January 05, 2011 06:15AM

    Ryder Integrated Logistics has renewed a 173,712-square-foot lease at AMB Codina Beacon Lakes in Miami. The site is located at 11690 NW 105th Street. John Vaught, CB Richard Ellis’ first vice president  and Elsa Heredi, an associate, represented Ryder in the lease, with George Pino of Flagler Real Estate Services representing landlord AMB US Logistics Fund. The warehouse supports the operations of Ryder’s customers in Mexico. “Ryder’s renewal at this Class A AMB property demonstrates that prime industrial product is moving quickly in key distribution markets,” said Vaught. The Beacon Lakes project, which was co-developed by AMB and Flagler, has been the site of several large-scale leases in the last year. The Village of Beacon Lakes industrial park also closed $2 million in sales in September. TRD