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South Florida

NAI/Merin Hunter Coldman reports new Ft. Lauderdale, West Palm Beach assignments

Palm beach-based commercial brokerage NAI/Merin Hunter Codman has added 500,000 square feet of assignments in the last 90 days from lenders requiring help to manage their expanding portfolios, the South Florida Business Journal reported.

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The company’s most recent projects include a penthouse office condominium in Fort Lauderdale, and a 10-story high-rise office tower and the 106,000-square-foot Habitat Retail Center, both in West Palm Beach, the Journal said.

“The Florida commercial real estate market is in the midst of a correction that is similar to what has taken place in the residential market over the last three years,” Jordan Paul, CEO for NAI/Merin Hunter Codman, said. “We expect an increasing number of properties to go back under lender control.” [SFBJ]