CREC Awarded New 105,000SF Assignment

Aug 04, 2011 No Comments by

Property owner GE Capital has selected CREC to serve as the exclusive leasing and managing agent for Metrocentre Corporate Park, an office complex totaling 105,000 square-feet of space along West Palm Beach’s 45th street corridor, in close proximity to Interstate 95.

The property was previously represented by CBRE’s Anthony Librizzi.

News of the assignment comes as the firm grows its Palm Beach team to include Associate Leasing Specialist Darla Hall. A seasoned
real estate professional with nearly a decade of commercial leasing experience, Ms. Hall previously held sales, leasing and managerial positions at Intelligent Office, Investment Management & Consulting Group, and EBC Office Centers. She most recently served as sales and business manager for Darco Insurance Services. Ms. Hall will work with CREC Senior Vice President and Shareholder Steven Hurwitz to oversee leasing at Metrocentre Corporate Park and two additional office properties in CREC’s Palm Beach County portfolio: the 113,000 square-foot Mellon United National Bank Building and the 64,000 square-foot Horizon Office Center.

“With economic volatility easing across Florida, the real estate market beginning to rebound, and companies looking for opportunities to expand their presence here, we are taking steps to position CREC’s core service lines for steady growth in key markets. Palm Beach County has long been considered one of Florida’s most attractive real estate markets, so it’s only natural that we are targeting the region as part of our strategic expansion across the state. Taking on the leasing and property management of Metrocentre Corporate Park and adding Darla Hall to our team of professionals are two important steps in the right direction,” said Carol Brooks, CREC President and Co-Founder.

Metrocentre Corporate Park consists of six single-story office buildings in the early stages of a capital improvements program that is part of the asset’s overall repositioning under new ownership.

As property manager, CREC will oversee the site’s upgrades and ongoing operations. The complex is currently 60 percent occupied.

Mr. Hurwitz believes Metrocentre Corporate Park’s committed ownership will be an important factor in the complex’s viability as a preferred leasing option in West Palm Beach. “More and more, we’re seeing office tenants locating at properties that are held by established,
well-capitalized owners. GE Capital has shown that it is committed to improving Metrocentre Corporate Park, and large-scale upgrades are already underway.

CREC’s property management team will continue to maintain the asset going forward, putting the complex in good position for long-term leasing success. As an added bonus, the park offers tenants an exceptional location just off Interstate 95,” noted Mr. Hurwitz.

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