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Edward Berkheimer Joins Berger Commercial Realty as Vice President of Property Management

May 4th, 2016

Ed Berkheimer

FORT LAUDERDALE, Fla.– Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently hired Edward Berkheimer as vice president of property management.

With more than 35 years of experience, Berkheimer joins the firm from KTR Capital Partners / KTR Management Services, LLC, where he served as vice president of property management for nearly 10 years and supervised the company’s South Florida commercial real estate portfolio, which consisted of more than four million square-feet of space.

Prior to KTR, Berkheimer served as senior property manager at GVA Advantis from 2005 to 2006, where he managed a one million square-foot commercial business campus and handled a $57 million annual budget. He also operated as branch manager of United Rental Highway Technologies from 2003 to 2005 and was responsible for overseeing an $8 million annual budget for public roadway installations.

“It is not often that someone with Ed’s experience and skillset becomes available,” said Berger Commercial Realty President Lloyd Berger. “We are excited about the level of professionalism he will bring and welcome him to our property management team.”

Gina Yehuda answers the question: What is a “vanilla box” in a retail center?

May 3rd, 2016

Vanilla box is a term used to describe a space with a cement floor, ready-to-paint walls, working electrical outlets, lighting, plumbing, finished ceiling, heating, and air conditioning. What it doesn’t include is internal partitions.

Berger Commercial Realty Closes Sale of Land Parcel Located 100 Yards North of Broward Health Medical Center for More Than $600,000

April 29th, 2016

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The property is slated for redevelopment into a 5,000-square-foot office building

FORT LAUDERDALE, Fla. – Senior Vice President Steve Hyatt of Berger Commercial Realty recently represented Martha Hutchinson in the $682,813 sale of a 14,375-square-foot land parcel with commercial and residential zoning. The property was purchased by 1311 S.E. 3, LLC.

Located at 1311 S.E. 3rd Ave. within approximately 100 yards of Broward Health Medical Center in Fort Lauderdale, the property consists of a 1,842-square-foot single family home situated on .33 acres of land. It was used as a residence for the past 50 years.

“The buyer liked the property due to its proximity to 17th Street Causeway and US-1 within southeast Fort Lauderdale,” Hyatt said. “With 115 feet of frontage along S.E. 3rd Avenue, this lot is an excellent redevelopment opportunity. The buyer intends to construct a 5,000-square-foot office building to own and occupy.”

Over the past two years, Berger Commercial Realty has brokered nearly $50 million in property transactions along the 17th Street Causeway corridor, including Insite Development’s recent $7.8 million purchase of a 32,000-square-foot office building at 910 S.E. 17th Street and Alliance Residential Company’s $22.1 million purchase of the former Ocean World marine park, which is being developed into Broadstone Harbor Beach, a 394-unit luxury apartment building. Hyatt represented Insite and Alliance in both transactions.

Joseph Byrnes answers the question: If I am buying commercial real property, do I need an environmental site assessment?

April 27th, 2016

Whereas environmental site assessment is not requirement of a purchase of commercial real estate, it’s a great idea to have one. Also if you get a loan for that, your bank is going to require you to have an environmental site assessment.

Judy Dolan answers the question: What is a parking ratio?

April 19th, 2016

A parking ratio is the number of parking spaces allocated towards the amount of square footage leased, or the amount in the building. The parking ratio is usually stated in the number of spaces per the square feet, for instance, if you have a 4 per 1,000 parking ratio, that means there are 4 parking spaces for every 1,000 square feet of space. The parking ratio requirement varies based on your use, and it can vary based from city to city, or the property type. You want to make sure that your parking ratio that is required is what the property has.

Michael Withrow answers the question: What is a 1031 Exchange and how does it work?

April 13th, 2016

1031 exchange is not a tax avoidance, but rather a tax deferment. For example, if you have a property that you sell for $200,000 rather than paying the 20% tax rate, if that’s your tax rate you have to pay the $400,000. If you have a like property in mind, you can roll all $2,000,000 into other property and you’ll be able to keep your funds working for you. It gives you some extra leverage on the property.

Berger Commercial Realty Announces The New 550 Building In Downtown Fort Lauderdale

April 11th, 2016

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Construction is scheduled to start in summer 2016; opening is slated for fall 2017
Commercial real estate firm awarded leasing and management assignment for the property

FORT LAUDERDALE, Fla. – Berger Commercial Realty announced it has been awarded the leasing and management assignment for a new seven-story, Class “A” office tower being developed in downtown Fort Lauderdale by Blackhawk Properties & Investments, LLC.

Located at 550 S. Andrews Ave., the new 70,000-square-foot building, which will have an attached parking garage, is slated to open in fall 2017. With a groundbreaking scheduled for summer 2016, this is the first new office building to be built south of the New River since 1989.

The property formerly housed the 32,500-square-foot Justice Building, which was purchased by Blackhawk in December 2013. The new development will be known as the 550 Building.

“The old building had a great location, but the site was underutilized,” said Lloyd Berger, founder and president of Berger Commercial Realty. “With its location next to the new 700,000-square-foot Broward County Judicial Complex, thousands of new multi-family units, and a proposed stop for the new Wave street car line, we expect that the new 550 Building will generate tremendous interest and will become one of the premier, sought-after buildings in this area for office and retail tenants alike.”

Developers of the 550 Building include Kate Murphy of Collins Capital Partners, Thomas McDonald of
Craven Thompson & Associates, and William Murphy of Douglas Management, who was part of the team that developed the current Broward County School Board building.

Designed by the award-winning architectural firm of Falkanger, Snyder, Martineau and Yates (FSMY), the building’s contemporary design will feature floor-to-ceiling impact glass, a dramatic, modern entranceway and lobby, and an urban-friendly retail and restaurant plaza on the ground floor with both indoor and outdoor café seating areas.

Commercial real estate veterans Steve Hyatt, Joseph Byrnes and Stephanie Bernota of Berger Commercial Realty are the exclusive leasing agents for office and retail space at the 550 Building.

Wendy Collins answers the question: What is a Twin-T roof?

April 8th, 2016

It’s a double T beam its load bearing structure that resembles two T beams connecting to each other side by side. It creates a strong bond of the flange and it’s a structure that is capable of withstanding high wind loads while having a longer span.

Lloyd Berger answers the question: What markets does Berger Commercial Realty serve?

April 4th, 2016


Berger Commercial Realty services Dade, Broward and Palm Beach Counties. Although we are South Florida focused, we do handle properties throughout the State of Florida.

 

Tim Hackett answers the question: Who pays for tenant improvements?

April 1st, 2016

Typically, the landlord pays for tenant improvements as part of the negotiation of a lease. At times, the rate of a lease or perhaps free rent is given in lieu of paying for the tenant improvements.