The Real Deal Miami

Colliers International closes Palm Beach Gardens office

Firm plans to open another office in northern Palm Beach County or on the Treasure Coast by the end of the summer
By Ina Cordle | June 27, 2018 04:30PM

4500 PGA Boulevard in Palm Beach Gardens and Ken Krasnow

Colliers International South Florida just closed its Palm Beach Gardens office, and plans to open another in the northern part of the county or on the Treasure Coast by the end of the summer, The Real Deal has learned.

Ken Krasnow, Colliers’ South Florida executive managing director, said the brokerage inherited the lease for a 2,500-square-foot office at 4500 PGA Boulevard in Palm Beach Gardens about three years ago from its former affiliate, and chose to terminate the lease when it expired rather than renew it.

The seven-person staff is temporarily split between the firm’s office in Boca Raton and a management office in a building Colliers handles on PGA Boulevard.

Krasnow said the brokerage is considering replacing the Palm Beach Gardens office with another one in northern Palm Beach County or in St. Lucie or Martin counties, depending on deals that are currently in the works.

“We’re talking to some recruits and talking to some new additions to the firm that might come with a strategic office or building,” he said. “We’re very aggressive in recruiting brokerage teams, so sometimes they come with an assignment, leasing a portfolio, and the portfolio might follow with them, so it might give them a different footprint.”

Colliers now has four offices in South Florida, including locations in downtown Fort Lauderdale, on Brickell Avenue in Miami, and in Boca Raton. The firm also has a satellite office in downtown Miami because of its work with investor and developer Moishe Mana, Krasnow said.

Colliers hired brokers Mika Mattingly and Gerard Yetming in 2016 to lead a new urban core division. Its clients include Mana, who owns at least 42 properties in the Flagler Street area totaling 9.2 acres of land.