The Real Deal Miami

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

September 09, 2011 03:44PM

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.

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]