Real Estate Notebook: Delray Beach plaza trades for $5.7 million

By Paul OwersSun Sentinel
A roundup of the week's real estate news.
Delray Pointe, an 18,269-square-foot plaza in Delray Beach, sold for $5.7 million.
The center at 1110-1120 S. Federal Highway is anchored by Office Depot and City National Bank.
The buyer was Delray 172 Realty LLC and the seller was Delray Pointe LLC. The CBRE firm represented both parties.
Delray Pointe was built in 2004 and is 80 percent leased. The site also includes 3,500 square feet of office space.
Two commercial agents earn awards
Robert Hamman of Sperry Van Ness won the 2014 Top Deal of the Year award from The Realtors Commercial Alliance in Palm Beach County.
Hamman was honored for his work at the site of the former Panaman Hattie's restaurant on PGA Boulevard and the Intracoastal Waterway. The property will become a mixed-use development. Hamman also earned the Land Deal of the Year award for assembling the parcels.
Scott Field of Realty Associates was honored as the 2014 Realtor of the Year.
The alliance is a division of the Realtors Association of the Palm Beaches.
Law firm to hold class for community associations
The Becker & Poliakoff law firm will hold a free class March 13 on building and protecting a brand name in community associations across South Florida.
A valuable brand can increase property values and improve the quality of life for residents and members, the firm said.
The event will be from 1 to 3 p.m. at the firm's Fort Lauderdale office, 1 E. Broward Blvd., Suite 1800. Seating is limited. Call 954-985-4119 or send an email toclasses@bplegal.com.
First lease signed at Port 95 Business Center
Premier Produce, a food service distributor based in Pembroke Pines, has signed the first lease at the Port 95 Business Center in Dania Beach.
Cushman and Wakefield, which represented landlord Saul Gilinski, announced the deal for 37,205 square feet. Premier is expected to occupy the space in June.
Port 95, at 2650 SW 36th St., offers 229,643 square feet of distribution space. In November, Bridge Development sold the complex to Gilinski for $27 million.
Coral Springs plaza trades for $26 million
A joint venture between CREC and Lubert Adler Real Estate Funds paid $26 million for Royal University Plaza in Coral Springs.
The new ownership group announced plans to renovate the 98,500-square-foot center and start an aggressive leasing compaign. The plaza is 45 percent leased.
David Moret, a principal of the group, said in a statement the property at 2556 N. University Drive was an ideal redevelopment opportunity even though the previous owner, TYE Holdings LLC., hadn't listed it for sale.
"We approached several national tenants prior to closing and have received tremendous interest on the property and are excited about its future tenant lineup," he said.
Commercial brokers jump to Colliers International
Jonathan Kingsley and Stephen Rutchik, veteran South Florida commercial real estate brokers, have left the JLL firm to join Colliers International.
The longtime business partners, who also worked at Grubb & Ellis Co., are executive vice presidents with Colliers.
At JLL, Kingsley and Rutchik helped lease roughly 2.1 million square feet of "Class A" office space for such clients as TIAA-CREF, Sunbeam Development and Stockbridge Capital Group. The two brokers also have represented Coca-Cola Co., Comcast and other tenants.
In a statement, Kingsley said he's looking forward to working again with former colleagues in "an environment that's refreshingly entrepreneurial and flexible."
Powers@sunsentinel.com, 561-243-6529 or Twitter @paulowers