Mortgage Lender JG Wentworth Relocates, Signs On For 11,000 SF

Jan 15, 2019 No Comments by

Direct mortgage lender J.G. Wentworth Home Lending LLC is expanding into 10,661 square feet at 951 Yamato Road in Boca Raton.

NAI/Merin Hunter Codman, Inc. President and Director Jay M. Grossman and Director Richard W. Brockney represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC in the lease deal. Tom Farmer, Vice-President of Office Leasing at Colliers International, represented the tenant.

Due to a successful repositioning of their business model, J.G. Wentworth Home Lending had outgrown its existing 7,000-square-foot office space at 8000 N Federal Highway, also in Boca Raton.

Assistant Vice President, Direct Lending, Evan Pruzan of J.G. Wentworth Home Lending stated, “We toured the Boca Raton market for six months with sights set on finding a Class-A office building, packed with amenities, which offered an above standard parking ratio. 951 Yamato met and exceeded our requirements. The building is a perfect fit and the perfect location to achieve our recruiting and retention objectives.”

 

Jay M. Grossman, President of NAI/Merin Hunter Codman, added, “Prospective tenants spend months touring various office buildings within their selected markets. Properties which are professionally managed and backed by strong institutional ownership are always found at the top of the prospect’s short list. Due to the building’s recently completed property improvement program along with its superb location and amenities, over 97,000 square feet of lease transactions have been completed within the last year, bringing the building to 89% leased.”

Current plans are to build a 2,000-square-foot conference center for the use of the building’s tenants. Expected completion is the second quarter of 2019.

 

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