Tag Archive for: colliers

Hollywood Office Proposal Grows As Developer Seeks Rezoning

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A nearly one-acre site near Interstate 95 in Hollywood could be repositioned for a larger office project as BSD 23 Development LLC pursues rezoning and site plan approvals from the city.

The property at 2910 Polk Street, just north of Hollywood Boulevard, was purchased by the Aventura-based developer for $2.5 million in 2023. The site currently contains a billboard, which would be moved to the top of the planned parking garage if the project advances.

BSD 23 Development, managed by Avihu Nahari, previously submitted plans for a four-story, 61,492-square-foot office building on the site. The latest proposal is larger, calling for a six-story, 92,000-square-foot office building with a lobby cafeteria and an attached 293-space parking garage.

To move forward, the developer is requesting that the city rezone the site from the transitional core zoning district to the retail core zoning district. The application also seeks a variance to allow a five-foot front setback instead of the required 10 feet.

The Hollywood Planning and Development Board is scheduled to review the rezoning and site plan applications on June 9.

As part of the proposal, BSD 23 Development would convey a small portion of the property to the Florida Department of Transportation for use as a passive park. The project team’s application describes the building as a modern glass-forward design with an art wall façade and a ground-floor connection to green space and pedestrian walkways.

Attorney Rosemarie Bacallao and Itamar Goldenholtz of Sunrise-based Goldenholtz & Associates Architects & Planners are working with the developer on the project.

The proposal comes at a time when new office development in Broward remains limited compared with Miami-Dade and Palm Beach counties. According to Colliers’ first-quarter report, Broward had about 350,000 square feet of office space under construction, all of it in downtown Fort Lauderdale. In Hollywood, office vacancy was 9.4%, while Class A vacancy stood at 12%. Average asking rents for Class A office space in the submarket were $40.72 per square foot.

Colliers Tapped To Lease Newly Renovated East Boca Office

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Fresh off the heels of its recent acquisition and a multimillion-dollar capital improvement infusion, 1200 North Federal Highway is getting a new leasing team and rebranding refresh.

The Colliers South Florida office leasing team, led by Senior Vice President Darcie Lunsford, has been chosen to handle leasing and marketing of the 137,000-square-foot, all-glass midrise, which spans nearly a city block at the T-intersection of Federal Highway and Glades Road.

The building was acquired in August by veteran South Florida office owner and operator Allen Chelminsky. Since his acquisition, Chelminsky has invested more than $3 million to renovate common areas, restrooms, landscaping, fountains and the building exterior, update mechanical systems, upgrade the roof, restore the parking lot and garage, and add state-of-the-art security systems and new property-wide LED lighting. The four-story building also offers a newly refurbished onsite café, lushly landscaped indoor courtyard and exterior dining areas, reserved under-building executive parking, and electric vehicle charging stations.

“When we buy an asset, we don’t waste time or spare any expense to rapidly bring it up to our high-quality portfolio standards,” said Chelminsky. “There is no part of the building that we have not carefully designed and curated to offer corporate tenants the best business environment in Boca Raton.”

The reposition ushers in a new wave of modernized office space and leasing opportunities for the residentially-dense and highly amenitized east Boca Raton market.

“The building now looks and feels wholly renewed and refreshed while offering that secret-sauce combination— contemporary space with economic value— that we find missing in the East Boca market,” says Lunsford. “Historically, tenants in East Boca could either pay up for modern space or trade down to older, dated buildings. Now you can find both quality and value in what is arguably one of the most prominent and easily accessible locations in the Federal Highway submarket.”

Chelminsky maintains a long-standing real estate presence across the South Florida and the Treasure Coast, owning and operating more than 2 million square feet of commercial buildings from Miami to Port St. Lucie.

IPA Brokers Office Asset Sale In Palm Beach County

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Institutional Property Advisors (IPA) announced the sale of the PGA Design Center, a 43,878-square-foot professional building located within PGA Station, a mixed-use development in Palm Beach Gardens.

The property sold for $15.5 million.

“Located in one of South Florida’s most affluent and supply-constrained markets, the property benefits from long-term tenancy, strong lease commitments, and the demand drivers of a master-planned environment that integrates office, medical, retail and hospitality,” said Douglas Mandel, IPA executive managing director investments.

Mandel, along with Zach Levine and Cody Hershey of Marcus & Millichap represented the seller, PGA Design Partners LP, with support from the Falk Weprin team at Colliers. The Marcus & Millichap team, in collaboration with Colliers executive vice president Scott Weprin, sourced the purchaser, LRP Properties 3901 LLC.

The property is just off RCA Boulevard, close to PGA Boulevard, and Interstate 95. The Gardens Mall, Downtown at the Gardens, and the PGA National Resort and Spa are nearby.

Within a three-mile radius, the population is over 79,000 and the annual median income is more than $439,000.

Built in 2006, the PGA Design Center’s tenants are New Radiance Cosmetic Centers, Score At The Top Learning Centers and Schools, and Outside the Box Coastal Home Furnishings. At the time of the sale, the center was 100% occupied.

First Trophy Office Project In 25 Years Breaks Ground In Boca Raton

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Compson Associates, together with Alfredo Aletto, announced the groundbreaking of The Aletto, a landmark Class-A mixed-use office and lifestyle destination set in the heart of Downtown Boca Raton at Sanborn Square.

Representing Compson Associates, Inc., is the Colliers team—Executive Vice Presidents Scott Brenner, Gary A. Gottlieb, Derek Baker, Jonathan Carter, Dave Preston, and Vice President Marc Fechter—who are leading the marketing and leasing efforts for the office and retail portions of the project.

“We are so thrilled to be part of this exciting project and work alongside Carl Klepper and Bobby D’Angelo, who had the vision for this transformative and iconic project,” said Brenner.

Designed to redefine the professional and cultural landscape of the city, The Aletto will feature 140,000 square feet of premier office, retail, and hospitality space, including:

  • Two state-of-the-art office towers offering panoramic views
  • A signature “open to the public” 10th-floor rooftop restaurant with indoor-outdoor dining and skyline vistas
  • Luxury amenities including a private fitness center, steam & sauna, valet parking, and a full-time concierge service

Strategically located steps from Mizner Park, Brightline’s Boca Raton Station, and the city’s thriving dining and retail corridor, The Aletto is poised to become Downtown Boca’s first trophy-class office development in more than 25 years.

The Aletto will feature a brand-new 550-car parking garage seamlessly integrated into the development, offering ample capacity for office tenants, retail patrons, and restaurant guests. Featuring valet service, controlled access, and efficient circulation, the garage is designed to maximize convenience while minimizing traffic impact on surrounding streets. Its strategic layout ensures easy ingress and egress, enhancing overall accessibility to Downtown Boca and supporting the project’s vision of a walkable, vibrant urban destination.

Compson Associates has partnered with NADG to advance and elevate The Aletto, combining deep local expertise with national development capabilities to deliver a best-in-class project. This partnership reflects a shared commitment to creating a transformative destination in Downtown Boca. To support the project’s execution, the development team intends to utilize Bank of the Ozarks for the first mortgage, securing a strong financial foundation that positions The Aletto for timely delivery and long-term success.

The Aletto has secured its rooftop restaurant operator: INK Entertainment Group, North America’s preeminent lifestyle and hospitality company, celebrated for an award-winning portfolio of iconic restaurants, nightclubs, music festivals, and luxury hotel-residences. Established in 1982, INK has shaped dining and entertainment scenes across Toronto, Miami, and beyond, consistently delivering immersive experiences that blend culinary excellence with inspired design. At the Aletto, INK will reimagine its acclaimed Amal concept—a contemporary Lebanese dining experience renowned for its vibrant flavors, shareable mezze, and its ethos of joie de vivre, the “joy of living,” tailoring it exclusively for Boca Raton. This elevated iteration of Amal will offer guests stunning rooftop views, sophisticated ambiance, and a dynamic culinary atmosphere, making it one of Boca Raton’s most coveted dining destinations. The rooftop will also feature an upscale bar and lounge, offering craft cocktails and a curated selection of wines, all set against the backdrop of live music. This immersive experience will create an unparalleled fusion of fine dining and nightlife, where guests can enjoy an evening of vibrant energy, top-tier entertainment, and the best of Boca Raton’s social scene.

INK Entertainment will further enhance the Aletto’s complex culinary appeal by introducing its acclaimed Italian dining concept, Sofia, on the ground floor. Known for its contemporary elegance, Sofia blends authentic Italian cuisine with a modern, art-infused ambiance — the perfect complement to Aletto’s upscale atmosphere. Sofia’s menu highlights seasonal, thoughtfully sourced ingredients and a curated selection of handcrafted cocktails and aperitivos. Guests will enjoy a bottomless brunch with a DJ, an Aperitivo all’Italiana happy hour, and dinner evenings with live entertainment — all combining to offer memorable experiences that redefine traditional dining.

Complementing this offering and creating a powerful dual presence, the opposite space will welcome Gloria’s, sister restaurant of The Warren, a premier bourbon and whiskey destination that celebrates refined indulgence. Far more than just a bar, Gloria’s will feature an extensive, meticulously curated selection of rare and premium bourbons, grand craft cocktails, and a chef-driven menu of steak and seafood all designed to pair perfectly with the spirits. Its warm, upscale atmosphere will blend the richness of Southern charm with cosmopolitan polish, making it an essential gathering place for connoisseurs and newcomers alike in Downtown Boca Raton.

Together, Amal, Sofia and Gloria’s will deliver a multifaceted hospitality experience—uniting exceptional dining, world-class beverage programs, and an immersive cultural vibe—positioning the Aletto complex as a landmark destination for elevated leisure and entertainment.

The Aletto complex has already secured an elite lineup of tenants, setting the tone for a premier business address. Anchored by industry leaders such as Slavic 401(k), NSI Insurance, and Industrious, the building offers a rare combination of prestige, financial strength, and corporate sophistication. With limited space remaining, Aletto offers a unique opportunity for discerning businesses to become part of a community filled with top-tier, financially robust tenants in one of the most dynamic and desirable markets.

Colliers Facilitates Sale Of Palm Beach Gardens Office Building

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Colliers announced the sale of 4440 PGA Boulevard, a six-story, Class A office building located in Palm Beach Gardens in an off-market transaction.

Colliers Executive Vice President Gary A. Gottlieb partnered with Executive Vice President Mark M. Rubin, Senior Vice President Bastian Schauer, and Associate Ryan Buckner of the South Florida Investment Services Team to represent the seller, Narragansett Realty II, LLC. PGA OFFICE LLC purchased the property for $15,850,000.

“This sale reflects the sustained demand for high-quality office assets in Palm Beach Gardens,” said Gottlieb. “It’s been a privilege working with the family ownership – a relationship that spans more than 30 years and multiple generations. A special thank you to the South Florida Investment Services Team who provided invaluable guidance throughout the process.”

 

“In today’s dynamic sales environment, it’s encouraging to see continued investor demand for high quality office buildings in strategic locations,” said Rubin. “Bastian and I always enjoy the great collaboration with Gary!”

Strategically located in the heart of Palm Beach Gardens, 4440 PGA is a 47,000-square-foot office building that features a classic design and prime accessibility. Initially built in 1979, the building has undergone continuous updates over the years, including a significant renovation in 2022. 4440 PGA features a newly renovated lobby and secure garage parking. Prominently positioned at the corner of PGA Boulevard and Military Trail, the property offers seamless connectivity to the region from its proximity to Florida’s Turnpike and Interstate 95. Tenants benefit from proximity to top-tier amenities such as The Gardens Mall and numerous dining options.

Venture X Opens Newest Coworking Space In Boca Raton

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Grover Corlew announced that Venture X, a premier coworking brand, has opened its newest location in South Florida at the reimagined Palmetto Central office campus in Boca Raton.

The 30,000-square-feet Venture X coworking space now occupies the entire top floor of 1489 W. Palmetto Park Road, a building that has been completely renovated. This renovation is part of a broader $60 million investment to transform the two-building Palmetto Central complex. The redesigned top floor features bright, modern interiors with full-height hurricane-impact windows and private balconies. Additional upgrades to the property include fully renovated common areas, a striking tiered water feature at the main entrance, and generous covered parking with EV charging stations.

“Venture X is a perfect fit for the Palmetto Central office campus, and we are thrilled to welcome them to the building,” said Mark Corlew, Partner at Grover Corlew. “We’ve invested significant resources into modernizing this space to offer businesses the best in design, amenities and location. The demand for Class A office space in Boca Raton is high, and Palmetto Central offers an unparalleled opportunity for businesses that are interested in relocating to the area.”

The Boca Raton Venture X location meets the region’s growing need for flexible workspaces, offering an upscale, collaborative environment for entrepreneurs, remote professionals, startups and established businesses alike.

“We are thrilled to bring the Venture X experience to Boca Raton and to be part of the revitalization of this iconic property,” Kevin Priddy, Managing Partner, Venture X. “This new location reflects our commitment to providing top tier coworking spaces that meet the needs of today’s professionals, with a focus on community and collaboration.”

The Palmetto Central complex is ideally located within close proximity to I-95, the Brightline station and upscale shopping and dining . Venture X joins UHealth Boca Raton, a University of Miami Health System clinic, which opened a 17,000-square-foot clinic in the same building in late 2024.

Venture X was represented by Derek Baker of Colliers, while Grover Corlew was represented by Joe Freitas, John Criddle and Max Pawk of CBRE.