Chicago Firm Picks Up West Palm Office Building
The company intends to invest an additional $10 million into refurbishing the property.
The company intends to invest an additional $10 million into refurbishing the property.
A significant investment of approximately $12 million—contributed equally by the State, the City, and the Ritz-Carlton South Beach—is being dedicated to enhancing infrastructure, implementing art and landscaping, creating pedestrian-friendly streets to harmonize with the rest of Lincoln Road.
During his tenure as President and Head of Leasing at Tricera Capital, he was instrumental in developing and implementing the company’s institutional leasing platform, a testament to his ability to drive growth.
Roughly 50 percent of the retail space is pre-leased.
Tricera and Merrimac are forward-purchasing over 13,700 square feet of ground-floor retail and restaurant space. Native Realty is representing Tricera in leasing the remaining retail and restaurant space at Soleste Seaside.
Wells Fargo now occupies two floors totaling approximately 45,000 square feet at Tricera’s 1675 Midtown office building following a 19,000-square-foot lease expansion.
In partnership with Society Wynwood developers PMG and Greybrook Realty Partners, Tricera and LNDMRK are forward-purchasing over 32,000 square feet of ground floor retail at the project.
The new joint venture adds 13 properties totaling ~299,000 square feet to Tricera Management’s portfolio.
Miami-based real estate firm bolsters executive team with experienced industry professional.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
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