AGENCY LEASING SERVICES
www.tower-cre.com
EXPERIENCE YOU CAN TRUST
Tower Commercial Real Estate is a full service commercial real estate brokerage firm focused on the diverse, complex needs of the commercial real estate industry. We operate across the Tri-County region of South Florida. Miami-Dade, Broward and Palm Beach counties. The professionals at our firm have a combined 40+ years of team experience specializing in CBD Class A properties and has a proven track record of achieving above market rental rates while providing best in class service. Our corporate philosophy is to provide our clients with outstanding service and measurable results. Our commercial real estate professionals apply their insight, experience, intelligence and resources to provide personalized service in order to help clients make informed real estate decisions.
JON BLUNK PRESIDENT
Jon Blunk is the Founder and President of Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. Mr. Blunk brings over 20 years of experience in the commercial real estate industry. He specializes in creating and maximizing value for his clients by repositioning and rebranding top tier assets throughout the South Florida market. Mr. Blunk represents institutional owners and investors and has leased over 10 million square feet of high profile office buildings, representing over $2 billion in lease value. Prior to forming Tower Commercial Real Estate, Mr. Blunk served as Senior Director for Cushman & Wakefield where he led the South Florida Agency Leasing Team. Prior to joining Cushman & Wakefield, Mr. Blunk was Senior Vice President and Director of Leasing for Crocker Partners and was responsible for the marketing and leasing of their South Florida assets. Mr. Blunk has also served as the Senior Vice President of Trammell Crow Company where he oversaw the firm’s South Florida office leasing portfolio. In addition, Mr. Blunk was the Director of Leasing for Trizec Properties in Chicago, where he leased Trizec’s 6 million square foot portfolio, including the Sears Tower.
LAUREL OSWALD EXECUTIVE DIRECTOR
Executive Director Laurel Oswald specializes in agency leasing for the South Florida market. She brings over seventeen years of experience to numerous property types, ranging from suburban midrise product to downtown trophy high-rise buildings. With a “think like the owner” mentality she has a track record of successfully leasing and repositioning assets while creating long-term value for her clients. She specializes in leasing and marketing office towers consisting of Tier I, downtown high-rise buildings throughout South Florida. Laurel was previously a Director with Cushman & Wakefield, where she leased a portfolio of properties comprised of approximately 3 million square feet of premier Class A properties throughout South Florida. Prior to Cushman & Wakefield, she was a Senior Vice President with Transwestern for eight years, where she oversaw leasing and business development in South Florida and launched the Ft. Lauderdale office. In addition, prior to Transwestern, she was a Senior Associate of Agency Leasing in Miami-Dade County for Trammell Crow Company. While there, she oversaw a Class A portfolio that grew to approximately 2 million square feet of space.
R. MICHAEL ERICKSON SENIOR MANAGING DIRECTOR
R. Michael Erickson is a Senior Managing Director at Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. Mr. Erickson is responsible for driving the growth and development of the leading commercial real estate team in Palm Beach County. He uses his expertise and industry knowledge to provide Landlord agency clients with cuttingedge strategic real estate consulting and brokerage services to increase occupancy levels, maximize profits and increase asset and shareholder value. He is an office specialist who endeavors to build long-lasting relationships with his clients by imparting the highest level of creativity and trust. Mr. Erickson has also represented an array of local and global, publicly traded tenants, gaining unsurpassed knowledge and expertise on both sides of the negotiation process within the South Florida real estate market. Prior to joining Tower Commercial Real Estate, Mr. Erickson held position of Senior Vice President at CBRE, throughout his more than 30 year career, Mr. Erickson has been involved in leasing and investment transactions totaling well over one billion dollars and in excess of five million SF of office space. He has advised clients on some of the most significant lease and investment transactions in the market and is highly regarded as a leader in the commercial real estate industry.
CONSTANCE D. THOMAS, CCIM SENIOR DIRECTOR
Constance D. Thomas is a Senior Director at Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. Ms. Thomas is an office leasing and investment sales specialist in Palm Beach County. She benefits from more than 20 years of industry experience, having participated in notable transactions with MetLife, Aetna Life Insurance, FineMark Bank, Regent Bank, Chilton Investment Advisors, Jos A Bank, Wilmington Trust, Colonial Bank, Harris Bank, First Union, Wachovia and SunTrust Bank, among others. By applying client-centered strategies to identify numerous areas of leverage, Ms. Thomas has secured millions of dollars in occupancy cost savings and lease enhancements in a wide variety of lease and ownership structures. Ms. Thomas was previously a Senior Associate with Touchstone Webb Realty Company, where she was responsible for strategizing on all facets of the business including the leasing, marketing, brokerage operations, tenant and capital improvement budgeting to enhance leasing metrics for a diverse portfolio of office, medical office and retail properties located throughout Palm Beach County. Ms. Thomas has also served as a Broker/Associate with WGCompass Realty Partners providing leasing, consulting, and disposition services to financial institutions, regional tenants, and local property owners.
SCOTT ALLEN
SENIOR MANAGING DIRECTOR
Scott Allen is Managing Director at Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. Mr. Allen brings 23 years of commercial real estate experience to Tower Commercial. Throughout his tenure, he has exclusively focused on Tenant Representation for clients throughout the Country and South Florida. Mr. Allen has focused on mid-to-large cap corporations, law firms, financial service firms, healthcare, municipalities, banks and technology companies. Mr. Allen is well versed in all facets of a transaction including leasing, sales, build to suits, acquisition and disposition of assets for his clients. Throughout his career Mr. Allen has represented multiple national and local clients Before joining Tower Commercial Real Estate, Scott was associated with CBRE since 1996, and represented clients including Spherion Staffing, VITAS Healthcare, City of Fort Lauderdale, Citibank and AutoNation.
MIKE MOORE
DIRECTOR OF BUSINESS DEVELOPMENT
Mike Moore is a Director of Business Development at Tower Commercial Real Estate’s Tenant Representation Group in South Florida. Mr. Moore adds value to his clients’ real estate objectives through the full range of services, including contract negotiation, site selection, disposition and business development. His career in consulting has focused on profit and performance improvement by showing companies how to fine tune the power of their people, processes, technology and infrastructure to achieve their business strategies. He has also led clients in conducting business strategy sessions and management retreats to analyze current goals, objectives and strategies; then help the team to challenge these to focus on value to stakeholders and customers. For over 20 years, Mr. Moore has led and created successful teams of professionals in targeting clients and building ‘trusted advisor’ relationships with C-level executives. He thrives on helping clients solve their problems and being part of a professional organization that has a team culture and is focused on bringing value and reducing risk for clients. Prior to joining Tower Commercial Real Estate, Mr. Moore served as a Partner with Deloitte & Touche, during his 22 year career as a Partner, he served hundreds of clients throughout the Southeastern United States, the Caribbean and Latin America. Mr. Moore is third generation in his family in the real estate industry.
CRISTINA GLARIA DIRECTOR
Cristina Glaria is Director at Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. Ms. Glaria has extensive experience representing Tier 1 trophy assets in the Central Business Districts of the Tri-county region. She is committed to helping her clients maximize profitability in all transaction aspects including creative lease structuring, financial analysis, overall strategy implementation and the use of interactive and innovative marketing techniques. Ms. Glaria continues to play an instrumental role in the firm’s rapid growth by supporting the team with extensive market research, creative market positioning and direct prospect canvassing for the South Florida portfolio. Prior to joining Tower Commercial Real Estate, Ms. Glaria served as Senior Associate at Cushman & Wakefield where she leased a portfolio of over 4 million square feet of premier Class A properties throughout Miami-Dade, Broward and Palm Beach County.
JOODY ANDRE
MARKETING DIRECTOR
Joody Andre is Marketing Director at Tower Commercial Real Estate, a full service commercial real estate brokerage firm in South Florida. With over 11 years of experience. Ms. Andre specializes in the creation of best in class marketing materials and the implementation of complex marketing strategies. As Marketing Director Ms. Andre manages all aspects of Tower Commercial Real Estate’s advertising, public relations and marketing efforts specifically working towards increasing the company’s brand awareness and recognition. Her experience in property marketing ranges from ground-up development to existing properties as well as marketing Corporate and Brokerage services. Additionally, Ms. Andre plans, directs and implements events, presentations, proposals, media relations and property marketing for the firm’s clients. Prior to joining Tower Commercial Real Estate, Ms. Andre served as Client Coordinator at Cushman & Wakefield where she provided in-house marketing support for the brokerage professionals in the company’s service lines including Capital Markets, Office Tenant Representation, Agency Leasing and Multifamily throughout Miami-Dade, Broward and Palm Beach County.
VAN WATSON ASSOCIATE
As an Associate for Tower Commercial Real Estate, Van Watson specializes in Agency Leasing and new business development in South Florida, with a focus on Broward, and Palm Beach County. He is responsible for the implementation and execution of leasing plans that maximize an asset’s value. Mr. Watson adds value to his clients’ real estate strategies through his comprehensive understanding and experience with lease negotiations, business development, market research, financial analysis, cold calling, canvassing and property marketing. Mr. Watson has five years of high-rise asset experience and leverages his leasing expertise and strong operations background to implement his client’s business models and provide real estate solutions designed to achieve both near and long term goals. Prior to joining Tower Commercial Real Estate, Mr. Watson served as Assistant Property Manager at Transwestern where he managed 110 Tower, a Class A, 30-story building in the central business district of Ft. Lauderdale. He assisted in the leasing efforts, capital tracking of a multi-million dollar renovation and capital budget.
ROB FOSTER ASSOCIATE
Rob Foster is an Associate at Tower Commercial Real Estate’s Tenant Representation Group in South Florida. Mr. Foster adds value to his clients’ real estate objectives through the full range of services he offers, including contract negotiation, site selection, disposition and business development. Mr. Foster prides himself on having a detailed understanding of his clients’ operations, objectives and risk management structures, enabling him to develop and execute real estate strategies that achieve the most favorable results. He brings his background in business, strategic thought, experience and strong analytical skills to the negotiation process. Prior to joining Tower Commercial Real Estate, Mr. Foster served as a Sales Associate at American Properties Realty, Inc. where he individually negotiated more than 100,000 square feet in lease transactions totaling over $10 million dollars in lease consideration within his first year.
CASE STUDIES CITIGROUP CENTER - DOWNTOWN MIAMI Rentable Square Feet: 800,000 SF
Time Period: 2012 – Present • Prior leasing agent marketed the building at $36.00 gross (2012)
• We recognized a “rising tide” and moved rates to $40.00 - $42.00 gross • Immediately achieved $42 gross (Bank of Nova Scotia and Kluger Kaplan) • Moved penthouse rate to $60 gross per square foot
• Leased 35,000 SF to Vitas as partially windowless space on 3rd and 4th floors underwritten as static vacancy
ONE FINANCIAL PLAZA - DOWNTOWN FORT LAUDERDALE Rentable Square Feet: 234,000 SF
Time Period: 2012 – Present • Previous leasing agent marketed the building at $16.00 net rent (2011) • Three months later our team achieved a $20.00 net rent • Spaces were not “right sized” or tenant ready
• We implemented a tenant ready Spec Suite Program
• Currently achieving $30.00 - $32.00 net rent on spec suites
• Building recently sold at 90% occupancy for $85MM in 2017, 93.2% increase from previous value
110 TOWER - DOWNTOWN FORT LAUDERDALE Rentable Square Feet: 394,830 SF
Time Period: 2008 – 2016 • Autonation decided to consolidate their headquarters, leaving the building occupied by subleases only
• Entirely off the radar from brokerage community for a decade due to 100% occupancy from Autonation • We converted subleases to direct leases and through aggressive marketing achieved 85% occupancy
• Absorbed 320,000 sf of new leases, renewals and expansions with rates achieving $28.00 NNN
• Building recently sold for $285.95/SF in 2016, which was 112% increase in value from ownerships original purchase price
TOWER COMMERCIAL
SUNTRUST INTERNATIONAL CENTER - DOWNTOWN MIAMI Rentable Square Feet: 449,076 SF
Time Period: 2011 – Present • Previous leasing agent was marketing the building as a Tier III building setting rates at $23.00 - $26.00 gross (2011)
• We moved rates to $30.00 - $32.00 gross prior to renovations (2012) • Backfilled windowless space on 9th floor – 45,000 sf
• Outperformed buildings with due East views by $2-4/sf
• Full floor non renewing Tenant space was marketed to smaller users with spec suite program • Current spec suites fully leased
• Achieving $36.00 - $38.00 gross rents post renovations
ESPERANTE’ CORPORATE CENTER - DOWNTOWN WEST PALM BEACH Rentable Square Feet: 28,760 SF
Time Period: 2013 – 2016 • Previous leasing agent was not marketing the building as a top tier asset • Immediately leased 55,000 SF to Cole Scott pushing rates from $22.24 NNN to $30’s
• Achieved blended rate of $32.00 NNN for office space and $50 NNN for retail (Bank of America and Merrill Lynch) • Leased 26,000 SF on the 2nd and 5th floors to Chatham, achieving $26.50 NNN for space with no views • Bought in 2013 at 64% leased, brought to 98% leased.
• Building recently sold for $491/SF, purchased for $277/SF in 2013. CITYPLACE TOWER - DOWNTOWN WEST PALM BEACH Rentable Square Feet: 300,000 SF
Time Period: 2006 – 2011 • Ground up development / achieved highest net rents in South Florida • Prior to development, West Palm Beach had not broken $30.00 NNN • Development fundamentally changed the top tier market
• Phillips Point followed suit and pushed net rents in the $30’s • Built and sold in 2011 for $428 per square foot to KBS
• Recently sold in 2014 for $505 per square foot to W.R. Berkley Corporation
REAL ESTATE ADDS VALUE
AGENCY LEASING SERVICES
LEASING
WE FOCUS ON CREATING AND MAXIMIZING ASSET VALUE FOR OUR CLIENTS Tower Commercial Real Estate delivers strategic and innovative corporate real estate solutions to commercial property owners designed to maximize leasing activity, rental rates, occupancy, asset value and market exposure. We provide customized, creative solutions specific to our clients by analyzing each asset’s unique attributes, strengths, investment goals, tenant mix, financial structure, submarket conditions and competition. Market insight, negotiating expertise, sector focus, and the right networks – these are key strengths you need in a leasing professional whether you are a local or institutional owner. In our rapidly changing world, our trusted brand and reputation for innovative solutions and helping clients gain new efficiencies from their real estate is especially valued. With more than 20 years on average of experience – the longest tenure in the industry – our professionals bring unrivalled experience to each assignment.We apply our deep knowledge of local market conditions to develop customized and often groundbreaking solutions for our clients that secure bottom-line results and long-term competitiveness.
Blunk/Oswald/Glaria were awarded NAIOP’s 2015 Office Leasing Team of the Year based on completing 71 lease transactions consisting of 558,814 sq. ft. for a total lease value of $230,156,160.75, this also included two of the largest leases recorded in South Florida during the year.
Palm Beach
Broward
Tri-County region of South Florida
Miami-Dade
AGENCY LEASING SERVICES
PROJECT MARKETING
CREATIVE SOLUTIONS IN A CHANGING MARKET • In-depth Market analysis
• Direct to Tenant Marketing • Financial Analysis
• Maximum Market Exposure • Best in Class Marketing
• Development and implementation of strategic leasing plan • Vast Brokerage Relationships
• Seamless communication with property management team
• Custom reporting and experienced with both Hightower and VTS reporting software
PR
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K AR
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MIAMI-DADE COUNTY PROPERTIES Major Assignments
CITIGROUP CENTER
201 S. BISCAYNE BOULEVARD MIAMI, FLORIDA Property
Class A
Total Square Feet
786,267 sf
Major Tenants
Citibank, Morgan Stanley, Hughes Hubbard & Reed LLP, Intercontinental Hotel Group, Kluger Kaplan Silverman Katzen & Levin PL, Vitas
SUNTRUST INTERNATIONAL CENTER 1 SE 3RD AVENUE MIAMI, FLORIDA Property
Class A
Total Square Feet
449,076 sf
Major Tenants
Suntrust, Bank of America, Daily Business Review, Marcum LLP, State Farm, Walgreens Co, Office of Attorney General
OMNI @ BISCAYNE
1501 BISCAYNE BLVD MIAMI, FLORIDA Property
Class A
Total Square Feet
435,000 sf
Major Tenants
Miami International University of Art & Design, Genting Group, Resorts World Miami, GSA, Crystal Cruises
TOWER COMMERCIAL REAL
ESTATE OPERATES ACROSS THE
TRI-COUNTY REGIONS OF SOUTH FLORIDA
BROWARD COUNTY PROPERTIES Major Assignments
ONE FINANCIAL PLAZA
100 SE 3RD AVENUE FORT LAUDERDALE FLORIDA Property
Class A
Total Square Feet
298,046 sf
Major Tenants
Brinkley Morgan, Regions Bank, AXA Equitable, Convey Health, pipeline workspaces
TWO FINANCIAL PLAZA
100 SE 3RD AVENUE FORT LAUDERDALE, FLORIDA Property
Class A
Total Square Feet
500,000 sf
Major Tenants
Pre-leasing
TOWER COMMERCIAL REAL ESTATE FOCUS ON CREATING &
MAXIMIZING ASSET VALUE FOR OUR CLIENTS
PALM BEACH COUNTY PROPERTIES Major Assignments
1800 BOCA CENTER
1800 N MILITARY TRL BOCA RATON, FLORIDA Property
Class A
Total Square Feet
141,750 sf
Major Tenants
UBS, Trend Capital, Deloitte, Jarden Corporation
ONE TOWN CENTER
1 TOWN CENTER RD BOCA RATON, FLORIDA Property
Class A
Total Square Feet
256,151 sf
Major Tenants
Bank of America, Kayne Real Estate Advisors, Kaufman, Rossin
THE PLAZA
5355 TOWN CENTER RD BOCA RATON, FLORIDA Property
Class A
Total Square Feet
145,344 sf
Major Tenants
Wells Fargo Advisors, Emergent Capital, Inc., The Law Office of Steven M. Goldsmith, P.A.
BOCA CENTER TOWER I&II
5200 TOWN CENTER CIR, BOCA RATON, FLORIDA Property / Total Square Feet
Class A - 119,832 sf
Major Tenants
Saxena White, FINRA, Sun Capital Partners, Inc.
5100 TOWN CENTER CIR, BOCA RATON, FLORIDA Property / Total Square Feet
Class A - 98,904 sf
Major Tenants
Greenberg Traurig, Ernst & Young, Duane Morris LLP
PALM BEACH COUNTY PROPERTIES Major Assignments
ONE BOCA PLACE
2255 GLADES ROAD BOCA RATON, FLORIDA Property
Class A
Total Square Feet
277,390 sf
Major Tenants
AXA Financial, MovieTickets.com, Inc., Regus, PNC Bank, Pruskauer Rose, Arthur J. Gallagher
NORTHBRIDGE CENTRE
515 NORTH FLAGLER DRIVE WEST PALM BEACH, FLORIDA Property
Class A
Total Square Feet
288,233 sf
Major Tenants
Casey Ciklin Lubitz Martens & O’Connell & Lytal Reiter Smith Ivey Fronrath
400 ROYAL PALM & 125 WORTH AVENUE
400 ROYAL PALM WAY, PALM BEACH, FLORIDA Property / Total Square Feet
Class A - 27,530 sf
Major Tenants
Citibank, Harvey Capital
125 WORTH AVENUE, PALM BEACH, FLORIDA Property / Total Square Feet
Class A - 49,853 sf
Major Tenants
BB&T, Astenbeck Capital
TOWER COMMERCIAL
REAL ESTATE RESET AND PUSH “MARKET RENTS”
PAST AND CURRENT CLIENTS South Florida Market
L&B Realty Advisors, LLP
CLIENT FOCUSED RESULTS DRIVEN
JON BLUNK President jblunk@tower-cre.com LAUREL OSWALD Executive Director loswald@tower-cre.com R. MICHAEL ERICKSON Senior Managing Director merickson@tower-cre.com SCOTT ALLEN Senior Managing Director sallen@tower-cre.com CONSTANCE D. THOMAS, CCIM Senior Director cthomas@tower-cre.com MIKE MOORE Director of Business Development mmoore@tower-cre.com CRISTINA GLARIA Director cglaria@tower-cre.com
TOWER COMMERCIAL REAL ESTATE MIAMI 1 SE 3rd Avenue, Suite 1010 Miami, FL 33131 305-400-0760 FORT LAUDERDALE 100 SE 3rd Avenue, 10th Floor Fort Lauderdale, FL 33394 954-628-5355 BOCA RATON 2225 Glades Road, Suite 124A Boca Raton, FL 33431 561-572-9887 5200 Town Center Circle, Suite 105 Boca Raton, FL 33486 561-572-9887 WEST PALM BEACH 515 N Flagler Drive, Suite 802 West Palm Beach, FL 33401 561-572-9887
JOODY ANDRE Marketing Director jandre@tower-cre.com VAN WATSON Associate vwatson@tower-cre.com ROB FOSTER Associate rfoster@tower-cre.com
www.tower-cre.com