What’s Up In The Real Estate Market…

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Delray architecture firm selected to design Pompano Beach bridge

Delray Beach-Based Currie Sowards Aguila Architects will be designing the Atlantic Boulevard bridge in Pompano Beach.

The architects recently received international acclaim for their design of the nearby Pompano Beach Pier Parking Garage. The new bridge will echo this structure’s style. The bridge and surrounding streetscape will be built in partnership with Burkhardt Construction at an approximate cost of $1.5 million. The groundbreaking ceremony took place last month.

“We are honored to be designing another important structure for the City of Pompano Beach,” said CSA’s partner, Jess Sowards. “The east side transformation of this city has been remarkable thanks to the City and the CRA’s strategic redevelopment plans. Their understanding that parking garages and bridges are symbols of the city, not just functioning structures, has set the style for the type of businesses, hotels and developments that now want to be part of this growing community.”

The Atlantic Boulevard bridge will display a playful design concept which incorporates sail-like components and a marine-themed mural at the bridge tender house base.

“When people see the bridge, they will probably assume we were influenced by the sail-like components and art work of our garage design, however, we actually designed the bridge first,” explained Sowards. “We knew these two structures needed to have a cohesive style, but we created each with its own personality. This area will truly be a gateway to the city, and we thrilled that our designs will be welcoming residents and visitors alike for decades to come.”

Currie Sowards Aguila Architects designed the Ocean Avenue bridge in Boynton Beach, the Flagler Memorial Bridge and the Crosstown Parkway Bridge in Port St. Lucie as well as bridge tender houses including Atlantic Avenue in Delray Beach, Hillsboro Boulevard and Commercial Boulevard.

Avison Young completes new lease for Broad and Cassel at Boca’s Lynn Financial Center

Avison Young completed a new 16,000-square-foot lease with Florida-based law firm Broad and Cassel LLP at an 85,000-square-foot class A office building located at 1905 N.W. Corporate Boulevard within Boca’s Lynn Financial Center.

The lease represents an expansion for the tenant relocating from within Boca Raton.

Avison Young Principals Greg Martin and Keith O’Donnell facilitated the transaction on behalf of the landlord.

“Boca Raton continues to be a robust suburban market with positive net absorption driven by above-average leasing activity,” Martin said. “The quality tenants in the market in addition to Broad and Cassel are seeking quality projects that provide additional amenities and services to bolster their operations. Lynn Financial Center is rich with amenities, provides ease of access, and is perfectly situated in the area’s business epicenter.”

According to Avison Young’s third-quarter 2017 Palm Beach County office market report, Boca Raton has absorbed 200,000-square-feet of space year-to-date, accounting for 35 percent of the county’s total net absorption during that same period.

“For more than three decades, Broad and Cassel has had a presence in Boca Raton, strategically positioning the firm in a high-growth area of the state to enhance and support our statewide operations,” said Broad and Cassel Partner Jim Wheeler. “Our relocation within the mid-town Boca area positions us well for future growth opportunities and offers a state-of-the-art building and superior amenities that will only serve to further enhance our client experience.”

Local architects recognized during 2017 AIA Palm Beach Design & Honor Awards

Six projects designed by local architects were recognized for their outstanding design work by the Florida Palm Beach Chapter of the American Institute of Architects.

Silberstein Architecture won a Design Excellence Award of Merit Residential for Chance Residence and a Design Excellence Award of Honor Residential for Street Residence in Delray Beach.

RLC Architects took home an Award of Merit Unbuilt Residential for Yamato Villas and Award of Merit Unbuilt Non-Residential for Yamato Office Building in Boca Raton.

Delray mortgage bankers arrange financing for new Charlotte community

Delray Beach-based mortgage bankers Dockerty Romer Co. arranged permanent mortgage financing for a new multifamily complex in Charlotte, NC.

The mortgage for Circa Uptown, a five-story, 243 unit community in the Third Ward neighborhood of Uptown Charlotte, totaled $36 million.

Dockerty Romer & Co. worked on behalf of their client which was a joint venture between Woodfield Development and a global real estate investment manager.  PNC Bank provided a competitive 5 year, floating-rate interest only mortgage.