HomeMy WebLinkAboutDocumentation_Regular_Tab 18_03/10/2016 Mc�ifiams, Lori
From; Keith Davis <Keith(c�cwda-legal.com>
Sent: Wednesday, February 24, 2016 i 1:04 AM
To: McWilliams, Lori
Cc: Couzzo, Michaei
Subject; Real Esta#e Broker Proposats
Lori:
As requested, i reviewed bo#h pcoposais that the Village received. Both are legaliy sufficient in ail aspects. Keyes is a
bigger company. However, l kinda like Rebe) Cook's proposaL She is a locaf gal and definitely seems to me to have her
thumb on the puls of the locai area a little better. That's my opinion, for what its worth.
Keifih W. Davis, Esquire
Attorney
f.,l.�R.EiETT,1�Vl`�{T�,
L.�AV�S rr�« �SI �1T�N, ��,��.
1111 Hypolwxo Road, Suite 207
Lantana, �lorida 33462
Tel: (561) 586-Ti16
Fax: (S61) 5$&-9611
Emall: Keith@CWDA-ie�at.com Wease make a note of our new e-maii address
Incoming e-maiis are flltered which may delay receipt This e-maii is personal to the �amed recipiertt(s) and may be privif�ed and confidential, tf you are not the
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1
___-__ ��,� � --�--- ------�
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KEYES RFALT`f
; �
p _ __.� _ _.___ _ _ - -- __ �
� - ��._� _ �-..�� �� :�:_ _ ---- ,w
i �� � i Min imum Qualificatio
. ___ - ---�- ---s- -- -- - ---- --I
j • Broker must be a licensed Reat Estate Broker in goad standing in the
State of Florida
i X � • Broker must have a minimum of three (3) years experience in lisfiing
� � � _ and selling residential real property _ ___
' X� • Broker must have a local office located within Palm Beach or Martin
j j County, Florida __
The follawing information is required:
i
�______a _ —_
! X 1. Submit a Letter af Interest indicating your desire to serve as the Village's '
� Real Estate Broker
J
i
� 2. Letter of Interest 5hould incl ude:
X � a. N of year in busin �_ �
�_ X b. Description of firm o compan includ size of firm _�
� X � c. Lo _;
--- t — -------..�--- ---- -------- ':
, X d. Num of persannel ta be assi to t his contract
' X e. Brief resume of each key person listed in letter "d" �,
X f, Pertinent reaf estate experience !
� -�-- -- .
� X g. Marke met hods to ide potential buyers '
�X � h. Types of marketing materials '
r - --�---------
i i. Strategy for presenting the s+te
i i
3. Provide a list af three (3� refierences including name, title, and contac� ',
'� information for each reference as well as a brief description of specific '
i � ' services provided. "
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Fe�rua�� 19, ?O 1 fi
Mr. ti9ichael Couzza, Jr.
Villa�;e ;'vlana,�er
V i 11a�e of ��I�eq uesta
?�5 T�ec�uesta Drive
Tequesta, Florida �3469
Dear Mr. Couzzo;
Please �onsider this Lett�r ot� Interest tot� th� oppc�rtunity to sell the subje�t property I the
Villa�e ol�Tec�uesta. Enelosed v�ou wili tind m�� clualif�cations as wel( as the qualitiea�tioi�s
ot�my associate Eddie Ty�buaz��nski and the qizaliticaticins of ��ur• c��mE�any�, The Keves
Compa��� . � �
Also �nciosed vou �v�ill tind eomparable vacant (a►1d active listin�s as well as sold listin�s in
the. area af the subject property. The�e c��i��F�arables �l�ow that land on the �z�ain commercial
art��ri�s in �i�equ�sta are valu�:d at c���er (._hi� millic�n dollars. �I�he suLject property loeated in
an interior area ot the villa�e is vaM��ecl at �; ��0-�_5O,000 dollar5.
The following are my refier�nces:
i�enr��th Rin���
(��� ner �
Bay�vie�� Commerci�( Construction
77?-?(��-? �Rt)
Dio��na Hall, RCE
C�O
Realtor� Asst�ciation of the Palm Beaeh�s
� b l- 7? 7-? 766
E3rian Sey'mour
<�ttorne�
Gunste�° L,a���
�61-6�0-0(�`' 1
Also enclosed i�� the proposal i5 a copy of our listin� a`�reement.
w'e are available to p�rsonally discuss th� proposal.
V�iy t��ul�� )�ours,
Alan Steinberg
Licensed Real Estate Broker
I�he K�� es C'c�n��anti
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WWL'��K�Y`rSCt�MMERCIAL.COM
?5Q S, A�astralian Ave, Ste. 1201, West Paln B�ach, F� 33401 • Office; 561-405-4960 • Fax: 561-405-4979
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G O M M E R C I A L
- - - ■
Alan Steinberg is the Business Rrokerage Division Ma►�ager for The Keyes Company as
wel! as the Commercial Division North Assistant Mariager. Originally from Philadelphia
Alan moved to South Florida shoi after graduating from "['awson University to run
the family business while obtaining a Ploricla Real Estate License.
�lan has over :3� years af entrepreneurial experience, in the State of Flarida. His
business ventures came from owning or o��er•ating Restaurants/B�ars with 4COP Liquor
licenses, Beach Apparel/Jewelry Shoppes, Wholesafe Flaral distributor and an
E1er•ospace met�l Brokerage.
Over the past 16 years, Alan specialired in the sale of Gas Stations ��nd Car Washes �nd
has assisted clients form site selection tc� acquisition and has expedited Financing and
Municip�l appravals For new construction. During this Cime Alan has worked in all
phases of Con�mercial Real Estate inc:luding Sales and l�easing of Retail, l�dustrial,
()f�tice anel Mufti-Family prop�rties as well s specializing in Business I3rokerage.
Alan's current affiliations:
Realtors Commercial Alliance (President)
Business Brokers of Florida (Million Dollar Pius Club)
Zoning Board of Appeais-West Palm Beach (Vice Chairman)
Chamber of Commerce of the Patm Beaches
Chamber of Commerce of the North Palm Beaches
International Councit of Shopp'rng Centers
_,, ,_, 1F Al�n Steinberg
�_.-�..�._...�..._� ��� �.�_-_.� -
25� S. Australian Ave. West Palm Beach. Ff. 33401 Direct 561 676-3531
aiansteinberg@keyes. cam
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-�i?•eparetl tor � , Presented by Alan Steinberg
2� i 8�2016 *� The Keyes Company
�°'; F ;� i ° (561j676-3531
aste�nberg@beitsouth net
License BK3203043
Properties for Sale
-.- . -. - �.•
r
Property Oetails
Pnce �1, 300.000
---= ° Lot Size 0 50 AC
"'� • � _ Prfce/AC �2.600.000 /AC
� � °`'-��.�:,� �� : .,¢ Property Type Land
� .�' Property Sub-type Residential (land)
�'%
,� �� ; Addifional Sub-types Multifamily (land)
� �=.
Office (landj
� Status Active
�_
���r °�"' Properfy Notes
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LOtS
# Price Size Price/Size description
1 $1,300.000 � 50 AC �2.600,000 �AC Per survey 120' x 185' x 143' x 194'
Property Descriptio�
143' of Intracoastal waterfront 48 acre lot In Martin County wdh R3A zoning and future land use Commeraal Waterfront (CV1� or Commercial Office/Residenhal
iCOR) there may be many possibilities Possible residential lVlanne services etc Flat, level and deep lot �n a great location, close to shopping, services and
restaurants whsle perfect for the Boating set with easy access to all that blue water NOT IMPACTEQ BY ALL RBOARD FLORIDA as ail bridges beNveen the
site and open water are on demand Located south of Indian Hills north of Tequesta proper directfy across from Jupiter Hills and CC This market �s seeing lots
of activlty'
Locatio� Descriptlon
Jupiter/Tequesta
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Property Details
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I Pnce �4.506 000
Lc�t S�ze 3.85 AC
� h =° , - . �� ,. �., s - �- ,� . .., . �, PncelAC $i 168,831 201AC
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"" sr � Property Sub-type :,ommerciaUOther (land)
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" �. '��f�, ,�, Additional Sub-types Residential (land)
��: Zoning Descnption R-1A
���c �"' � �� Features Electncit lPower
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r Water
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Lots
# Price Size Price/Size Descriptfon
1 54.500.000 3 85 AC � 1? 68 83' 20 iAC
Property Description
?his Fantastic waterFront land �s �n a prestigious location at the Paim Beacr �nd Martm County border, w�th 300 feet along the Loxahaichee River AII utilities are
available inr,luding electric sewage and water The land offers easy access to the Intracoastal and Jupiter Inlet The property �s zoned R-1A (permitted uses
indude modular homes, single `amily detached dwellings educational �nstduGons places of worship bed and breakfast inns. commercial and famify day care
and more)
Locatio� Description
Tne land �s ciose to the prestigious Jup�ter isiand and numerous Cour.try Ciubs and �s mmutes from I-9,5. the �londa Turnp�ke and US-1
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Price Pnce Not Disciosed
��+�.r�.s�:,• -.� � �ot Size 5 03 AC
� � �'" ����q�+, � � `�`�';�� Proper#yType Land
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`�� ;� . �` � � �� �, ��' Lommercial []istnct
������ � � � ��� � ° , Features EleciricitylPOwer
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# Price Siz� PricelSize Description
1 6 03 AC Two parcels of land adjacert to one another 60-43-40-30-00-OOT-012D refiects 2 46 acres 60-43-40-30-00-001-0170 �
refiec,s 3 57 acres
Property Description
L.ecated in the nertheastern most regicn of Paim Beacn County within the `✓nlage af Tequesta th�s pro�ect site �onsists of six (fi) lotal acres fronbng US
Highway One w�th�n the Communiry Gommercial District +C-2 Zomng J�str,ct; w�th special exception us2 for a mixeC3-use residentiaVcommercial design permittr�d
under a Planned Cammerciai Deve�opment (PCCI Property consists of 368" of US1 raad frontage x 790' depth
Location Description
The s�ie os pas�t�oned coniiguous ta an upscaie rnulti•family corr�mun�ty a: !ne ��orth and a Pubhx anr.horec� retaii center at the south ?his site represents one ��
the very last ramainmg in-fili Coastal region developmert s�tes w�th �eascn�Gle mtens:ty �n the coastal area of the northern Falm 8eaches pr�wd�r,g the
opportunity for a marquis community at the edge of the waterway overleokmG Jupiter Island and the tntracoastal waterway The areas boating papulat�on
�ssure�mg ar�d several mar�nas and upsc�l� yacht clubs in;luqing Jupiter pomte Marina are loCated immediately to the r,orth of 1he pro�ect sde offering valet
boat serv+ce wet shr�s and dry storage Jupder Isfand' s native world class beacnes are a short 5 mmute dnve from ?he pro{ect site and the Juprter inlet is twa
nauUcal m�les to rhe south
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Lots
�t Price Size Price/Size Qescription
1�?SO.OGO (� 50 AC S1 50� �,'(3C� A(, Th+.s haif acre par.e+ ,�,:��, �_ ,-,, f �_.0 � ��er� ��N�rh � 8� +' fee�t oF f �.��i U S i Qn�
Property Descriptio�
Th�s hai acre parca� �a !c a �,� _;,� �n � .°, . v�t�� s.� , �e� . � � v . � , ._ �� ��o� 5 , at;c�� , �� ,.� . r� �r�o��� ' ��)� _ _�f,���
budding w�th unde���round park�n� Zonir�y perm�ts up �o �o�� st�nes w� �c,� ��v�s grea±�v�ews qf tne Intracoastal WaCerway .iup�ter isSand anci the AtlanCsc:
Ocean Pe�mitted uses �nclude medica! offire �rnr�;ssional office �eta�! o� �esfau�anr
Location Oescription
DireCtly across the !n[racoas4a��� `JVate:�vay f yr �up+-�; ��,�� .� � , � r„ �- ��9��s �� � e_� .ry '_or�a.E i ;rac �s nr,=� �f inr±�a �-t.����_, t�od�
fhe nia,�or zast-wesl �raffic and retait corridor in Jupi(.=�r
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; � Vacant Land �ist�ng Agreement $ ��" � � x
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� This Exclusive Right of Saie l.istdng Agreement ("Agreemen#"} is between
�. Vil(age of Tsquesta (
3. and The Keyss Company {"8roker").
Q 1. Autharify to Seli Praperty: Setter gives Broker ihe EXCLUSlVE R(GHT TO SE�L #he rea( and personaE property
� (coilectivefy "Property°) described be#aw, at the pr�ce and terms described below, beginning
�. March 1, 2�16 and terminating at 11:59 p m on September 3Ci. 2016 {°Termination Date"}. Upon
7 full executian of a contra�t for sale and purchase of the Property, ali rights and Qbligations af this Agreement wiil
� autamaticaiiy extend through the date of the actual clasing of the sales contract. Sellee and Broker acknowledge
� that this Agreement does not guarantee a sale. This Praperty wi[I be affered ta any person without regard to race,
�� color, reiigion, sex, handicap, familial status, nationa! origin, or any other factor protected by fedesal, state, or lacai
�± law. Setler cer#ifies and represents that shelhelit Ms legetiy entitled to convey the Property and all improvements.
t2 2. Description of Property:
� 3- {a) Street Address: 483 Seabraok Road. Tec�uesta, F!. 33469
14
�5� Lega( Descriptian. 25-40-42, N 13Ct FT of W 635 of NE 1/4 of 5E 1/4 (less ely 46.041 FT Seabrooke RD R/W)
isk D See Attachment
1� {b} Personal Property, inciuding storage sheds. electrical {including pedestal), plumbing, septic systems, water
�s tanks, pumps, soiar systems/panels, irrigation systems, gatss, domestic water systems, gate openers and
�� controls. fencing, timers, mailbax. utiiity meters tincluding gas and water), windmilis. catt9e guards, existing
za> landscaping, trees, shrubs. and lighting: TBD
2 �° ❑ See Attachment
22 (c} Occupancy:
2�t Rroperty ❑ is � is nat current(y occupied by a tenant. !f occupied. the lease ierm expires
2d 3. Price and Terms: The property is affered #or sale on the following terrns o� on other terms acceptable to Setter:
25� (a} Price: �
2s• {b) �inancing Terms: L� Cash � Canventional � VA ❑ FHA ❑ USDA ❑ Other {specify)
2�- G Setler Financing: Seiie� wiN hold a purchase money mortgage in the amount of $
28� with the following terms:
2s- ❑ Assumption of Existing Mortgage: Buyer may assume existing mortgage for $ plus
so� an assumption fee of S The mortgage is for a terrr� of years beginning in
37� . at an interest rate of °lo �J f�xed �variable (describel
32; Lender approval of assumptiQn ❑ is required rJ is not required ❑ unknowrn. Notice to Selter: You may
ss remain iiable #or an assumed mortgage for a number of years after the Property is suld. Cf�eck with your
sa lender t4 determine the extent of your liabiEiry Seller wi1� ensure that a!I mortgage payments and required
35 escrow deposits are currant at the time of cfosing and wili convey the escrow deposit to the buyer at ciosing.
3s- (c) Seller Expenses: Setler will pay mortga�e discount ar other clt�sing casts not to exceed �°la of the
�7 purchase priee and any other expenses Seiier agrees to pay in connection with a transaction.
3� 4. Broker Qbligations: Broker agrees to make dilfgen# and cantinued ef#orts ta sell the Property until a sales
�9 contract is pending on the �roperty.
ap 5. Multiple Listing Service: Placing the Property in a multiple lis#ing service (the "MLS"} is beneficia# to Setler
a� Decause the Property will be exposed to a large number of potentral buyers. As a MLS participant, Braker is
a2 obligated to timeiy de#iver this listing to the MLS. This I�sting wifl be promp#iy pubiishec! in the MLS �anless Seller
43 directs Braker atherwise in writing. 5elier authorizes Broker to repork to the MLS this listing informatit�n and price
4a terms. and financing ir�farmatian on any resu{ting sale for use by authorized Soar�l t Association members and
�5 MLS partscipants and subscribers uMess Seiler drrects Broker otherwise in writing.
�� 6. Braker Authority: 8etler au#horizes Broicer ta:
�� {a) Advertise the Property as 8roker deems advisabie including advertising the Properfiy on the lntemet unless
4s Iimited in (6}(a){i) or (6}(a)(ii) below.
a� {Seller opt-out) (Check vne if applicable)
so� �i) u D+splay the Property on the internet except the street address.
5?= (iij ❑ Seller d�es not authorize Sroker to disp4ay the Property on the (nternet.
Se!!er ( �( � and Broker?Saies Aasociate i j r a acknowledge recespt of a copy of this page. which is Page 1 of 4
V�LA-2 Rev ' O 3 � 2013 Ftor�da Reaitcrs
�sra�it 0652Q8-900145-5826164 . � �
�t _,. ,.� ,,. •
. _
�2 Seller understands and acknc�wledges #ha# �f Seiler selects option {ii), consumers who search for listings on
53 the intemet wi!# nvt see information about the Property in response to their s�arch.
5a� t lnitiais of Selier
5� (b) Place appropriate transaction signs an the Property, inc6uding "For Saie" signs and "Sold" signs (once Sel[er
5s signs a sales contract) and use Selter's name in connection with marketing or advertising the Property.
5i (c} C?btain information relating to the present mortgage(s} on the Rroperty.
5s (d) Provtde objective comparative market analys+s information ta patentiai buyers.
5s� (e} {Check if applicabie) ❑ Use a lock bc�x system andlor gate code to show and access the Property. A lock
�� box or gate does not ensure the Property s security. Seitef is adviseti to secure or remove valuables. Seller
�� agrees tha# the lock box or gate is for Seller's kaenefit and releases Broker, persons working ihrough Broker,
s2 and Broker's locai Realtor Baard ! Association #rom al( liabiiity and respc�nsibility in connection with any
s3k damage or loss that occurs. ❑ Withhold uerbai offers. ❑ Withhold all ofFers once Seller accepts a sales
�a contract for the Property.
e� (f} Act as a transaction broker unless a different r�latianship is or has been established in writing.
ss (g} Virtual Offi�e Websites: Some rsa! estate brokerages offier reai estate brokerage services anlia�e. These
s� websites are referred ta as Vlrtual OfFice Websites ("VC}Ws"). An autamated estimate o# market va9ue or
sa reviews and corrrments abaut a property may be disp#ayed in conjunction with a praperty on some VC1Ws_
5� Anyone who registers an a VQW may gain access to such autamated valuations or comments and r�views
7� about any property displayed a� a VOW_ Unless limited beiow, a VC?W may display automated vaivations or
z� corrtments and reviews about this Property.
�2• ❑ Se11er does not authorize an automated est�mate of ths market vaiue of the listing {or a hyperlink to sueh
�s estimate) to be displayed in immediate conjunction with the fisting of this Property.
�a * ❑ SBII@P C�O@S CIOt BUCft{3fIZ@ tllll't� �7�tt{£S t0 W�tTB COi'?'1tTt@(1�5 !}i �@ViBWS 8I?OUt th@ IlStitl� t3� tI1B Pr0�7eft}r {C7t'
�� display a hyperlink to such comments or reviews) in immediate conjunction with #he listing of this Property.
�s T. Seiler flbiigations and Representatians: In cons[deration of Bcoker's obligations, Setler agrees ta:
�7 (a) Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to
7a Broker a11 inquiries regarding the Property's transfer, whether by purchase or any ather means of transfer
�s (b� Provide Broker accurate infarmation about the Fraperty ofi which Sel#er may be aware, including but not
so limited to utility availability, presence of or access to water supply, sewer or septic system, problems with
�� drainage, grading or soii stabiiity, environmenta� hezards. commercia! or industriaf r►uisances {nnise, odor,
s2 smoke, etc.), utility or other easements, shared driveways, encroachments #ram or an adjacent property,
s3 zoning, wetland, flood hazard, tenancies, cemeterylgrave sites, abandoned well, underground starage fianks,
s4 presence of protected species, or nests of protected species.
a� dc} Provide Broker aceess to the Property and make the Property available for Broker to shaw during reasQnabde
ss times,
sr (d) lnfarm Broicer before ieasing, mortgaging, or otherwise encumbering the Property.
as (e} indemnifiy Broker and hald Broker harmless from Ipsses, damages, costs,and expenses �f any nature,
e9 including attorney"s fees and fram 4iabihfy to any person, that Broker incurs because af (1 } SePter°s
sa negligence representations, misrepresentat�ans. actions, or inactions; {2} the use of a lack box or gate code;
s1 (3} the existence of undisciosed materiai facts about the Property; or t�} a court or arbitratian decisi�n that a
92 broker wha was not compensated in connection with a transaction is entitlet! to comp�nsataQn from Broker.
ss Thss ciause wi11 survive Broker's perforrnance and the transfer of title.
9a {f} Perform any act reasonabfiy necessary to comply with FlRPTA (Section 1445 of the Interna! Revenue Codej.
g5 (g} Make a11 iegally required disdosures. including a11 facts that materiaBCy affect the Property's vafue and are not
ss readiiy observable or knawn by the buyer, Selier certifies ar�d represents that Selter knows s�f no such
s? materiaf facts {iacal government building code violatians, unobservable defects, etc.� other than the following:
gg•
�� Seller �,viil immediately inform Broker of any material facts that arsse after signing this Agreement.
aoo {h) Gonsult approprtate prafessionals for related fegal. tax, praperty condition, environmental, fareign reporting
�01 requirements, and vther specialized aduice.
��z {ij Seiler represents that Selter is not awara of any notice of defiauit recorded against the Property; any
�os deiinquent amounts due under any loan �ecured by ar ather 4biigation affect+ng the Property: any bankruptcy,
�04 #oreclosure, insalvency. or simiiar proceeding affecting the Property; any 4itigatian, arbitration, administrative
�o� acti�an, government investigation, or other action that affects or may affect Seiler's ability to transfer #he
�as Property; any current. pending, or proposed speciai assessments affecting the Property; any planned pub#ic
�p7 improvsments which may result in specia! assessments or any mechanies' liens or material supp6er liens
�os against the Property.
Selier { } t t ard BrokerlSales Associate i, }; i acknow(edge receip# of a copy of this page whfch is Page 2 of 4
VLIA-2 Rev 7C'13 �� 2013 �lorjda Reaitors
5er 065208•4DQ�45-5825#&4 '� ;. � � ,_ '�
� . ..�i.� i .
-7os 8. Compensation: 5elter wili compensate Broker as specified below for procuring a buyer who is read�r, wii(ing,
t�o and ab(e to purchase #he Property or any interest in the Praperty on the terms of this Agreement ar on any other
�� a terms acceptabie to Selier. Seller will pay Broker as fioilows {plus appiicable sales tax):
� i�� (a) �°!o of #he total purchase price ptus $ OR $ , no
� �� iater than the date of closing specified in the sales contract. However, ciosing is not a prerequisite for Broker's
��$ fee being earned.
T��• (b� �($ or °/ti� o€ the cansideration paid far an option, at the time an option is creatad. !f the option is
��� exercised, Seller wiii pay Broker the Paragraph $(a} fee, less the amount Braker r�ceived under tfiis
� 17 subparagraph.
1� a` dC$ �($ 4r %) of gross fease vafue as a leasing fee, c�n the date Seiler enters into a iease or
��� agreement to lease. vvhichever is earlier. This fee is not due if the Proper#y is or becomes the subject of a
�2o contract granting an exclusive right ta iease the Proper#y.
�2i (d� Brc►ker's fee is due in the followrng circumstances: (1) If any interest +n the Prcrperty is transferred, whether by
322 sale, iease, exchang�, governmental action. bankruptcy. or any ather mean� of transfer, regardless of whefher
z2s tt�e buyer is secured by Setter, Braker, ar any other person. {2} If Selier re#uses or fails to sign an afFer at the
�2a price as�d terms stated in this Agreeme�t, defaults on an execute�3 sales con#rac#, or agrees with a buyer to
�2�- cancel an executed sales contract. �3) If, within 180 days after Termination Qate ("Protection Period°},
� 2s Seiler #ransfers ar contracts to transfer the Property or any interest in Ehe Property to any prospects with whorrt
�27 Seller. 6roker, or any reai estate licensee communicated regarding the Property before Termination Date.
�2s However, na fee will t�e due Broker if the Property is relis#ed after Termination �ate and so3d through anc�ther
tz9 broker.
�30= (e1 Retained [?eposits: As consideration fior B�oker's services, Broke� is entitled to receive ��% of ail
��? deposits that Seiier retains as iiquidaked damages fior a buyer's default in a transaction, not to exceed the
ts2 Paragraph 8{a) fee.
t33 9, Gommerciai Reai Estate Sates Commission Lien Act: The �lorida Commerciai Real Esiate Saies Cornrrt+ssion
»4 Lien Act provides that when a►�raker has eamed a cammiss+on by performing licensed services under a k�rakerage
ass agreement with yau, the b�oker may claim a(ien against your net sales proceeds for the broker's commission. The
�3s broker's lien rights under the act cannot be warved before the cammission is earned.
t37 90. Coaperation with and Campensatian #o Other Brokers: Natice ta Setter: The buyer's brflker, even if
�sa compensated by Selter or Broker: rnay represent the interests of the buyer. Broker°s oi#ice policy is to cooperate
�s� w�th a!6 �ther brokers exc�pt when nc�t in Se#ler's best interest and tc� offer compensation in the amount of
�ao� � 3 % of the purchase price or $ ta a singie agent for the buyer; C] '� °I� o# the
ia�> purchase price ar $ to a transactoan broker for the buyer; and C} 3 % of the purchase
ia2� price or $ to a broker wha has no brokerage reiatic�nship with the buyer.
i�s• ❑ IVone of th� above. (If this is checiced, the Property cannat be placed m the MLS.)
�aa 11. Conditiona! Terrnination: Rt Setter's request, Broker may agree to conditionally terminate ihis Agreer»ent, If
t45 Broker egrees to conditianai termination. SeNer must sign a wi#hdrawal agreement, reimburse Broker for all direct
7ae< expenses incurred in marke#ing the Property, and pay a cancella#ion fee ofi �O.OQ plus
�a� app4icable sales tax. �roker may vvid the canditianai terrnination, and Selier wil! pay the fee stated in Paragraph
�as 8(a� less the cance(iation fiee if Seller transfers or contracts to transfer the Property or any interest in the Property
�as during the time period from the date of candit+ona! termina#ion to Termination Qate and Protection Period, if
��o appiicable.
��� 12, Dispute Resolutian: This Agreement wiil be construed under Florida law. �iil controversies, claims, and other
t52 matters in question between the pafies arising out of or relating ta this Agreement or the breach thereof wiil be
�s3 settled by first at#empting mediation under the rules of the American Mediation Assaciation or ather mediator
��a agreed upan by the par�ies. If litigation arises out of th�s Agreernent, the prevaiting party wil! be entitled to recover
��� reasonab(e attorney's fees and costs, uniess the part�es agree that disputes wii9 be settled by arbitration �s fallows:
�ss� Acbitration: By initiaiing irt ihe space provided, Se11er ( >( }. Sales Associate ( ), and Broker ( }
2�� agree that disputes �at resoived by mediation w�(I be settled by neutral binding arbitratian ir� the caunty in wh[ch
�5s the Prvperty is Eocated in accorda�ce with the ruies of #he American Arbitration Associa#ion or other arbitrator
��s agreed upc�n by the parties. Each party ta any arbstration (or litigation to enforce the arbitratit�n provision of this
�so Agreement or an arbitration award} wii! p�y �ts own fees, casts, and expenses, including attomey's fess, and wili
js3 equally split the arbitrator's fees and administrative fees of arbitratir�n.
�s2 13. M"ssceitaneaus: This Agreement is bEnding on Seller's and Broker's h�irs, �ersonal representatives,
1s3 administrators, successors, and asssgns. Braker may assign this Agreement to another listsng o�ce. This
�a� Agreernent is the entire agreement between Seiler and Broker. No priar or present agreements or repr�sentations
Seller ( )( i ancf BrakertSales Assoc�ate ( � r � acknowEedge r�ceipt a€ a copy af this page, whrch is Page 3 of 4.
VLLfa-� Rev i0,?3 � 2073 Ffor�da Reaitors
uer.a:# 065208-40i9t453826t84 : j i -,- „', -
. `
'�s� wiii be �inding on Selter or Broker unless inciuded in this Agreement. Electronic signatures are acceptable and
j�e will be bindfng, Signatures, initials, and modifications communicated by tacsimile will be considered as originals.
� The term "buyer" as used in thrs Agreement includes buyers, tenants, exchangors, optionees, and other categories
��$ of potential or act�al transferees.
?BS� '!d. Additional Terms:
170
171
172
t73
174
t75
17B
177
17$
179
180
181
182
183
�8a� Selier's Signature: Date:
�85= Home Telephone: Work Telephone: Facsimile:
�ss= Address;
�a7x Ernail AddreSS:
sas� Seller's Signatufe: Date:
�ss� Home Telephone: Work Teiephone: Facsimile:
?90� Addt�SS:
is�� Email Address�
�sa� Authorized Sales Assaciate or Broker: Date:
�s3= Brokerage Firm Name: The Keyes Company Teiephone:
�s4= Address: 250 S. Australian Ave. West Palm Beach, FL 33401
�s�- Copy returr�ed to 5eiler or� by ❑ emai! Q facsimile ❑ mail G� personal deiivery.
Flonda Realtcrs' makes no representat{on as ta the fegat vafidity or adequacy c�f ar�y provision af th�s form in atty speGific transactian. Th�s standardized fprm should
not be used in comptex transactions or with extensive nde�s �r addit4ons Th+s form is avaGiabie for use by the en#�re reai estate mdustry and rs not �ntenderi to
�denirfy the user as REA�.TOtz' REaLT4R` �5 a registered coilective memtaersn�p mark which may be usetl oniy by real estate hcensees who are members of ihe
t�Ar�(}NAL ASSOCIA .TlON qF REa! rflRS' and who subsctGDe to its Goc�e cat Ethics. The copynght laws oi the UrnEed States i 9% U S. Code} fiqrtrid the unauthorized
reproGUCt�on cf th�s `orm Dy any means mciud�ng #acsimile or campute��zed torms.
SeNer ( }{ a and Broker;rSaies Rssac�ate i t t } acknnwlsdge receipt of a capy of this page. which is Page 4 of d.
����� ���'G'�� �20t3 fior�da Realiors'
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Irrteresatic�n�l� sx�o�s avaitata�e �f�trarags ��sg�a rF�� I�! �nd
� .,�� �.�.� 31oba1 rssaur��s. Edtt'r�"s succ�ss Es °sn part clue to a k� a�iicy tc�
coord'anat+e tFa� c��t�t� crf tr�ay's ���i�i�ater� �ansa�te�a�.s arod use the
- -,* ontane marketirsg tgs€s�s �rs� techraczt�. £d�e Ty�a.r�y�ri haas ai3
- >, ��i�hed �ecord �rtd as kaaca�srn f�r �a���,d�n �nd .�rf�ra�y +�er�
r�nting vadu�d ctients.
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EDD►!E .I. TYBUSZYNS�(#
1Q saddleback Raad, Teqt:esta, F!aricla ,334b9 �
Ful1 Time Reai Estate Prafessionai witii i3 years of experience with The Keyes Company,
developing R�ai E$tate Markets E,� P�l�r� Beach Cotgnt}f, f�lartin County and Miam'r Dade
uoun#y w�ith �rriphas�s on Jupiter Teq1ies�a. Palm Beach �ar�tens and Miarni. possess
�xceptiona! cus#orr�er kr�nw#eag� that alir�uvs him to develop everlas#ing relationships with the
�ttolic as thP ulfiiraate g�al. also e:hsbits an aptituc3e to link c«stomer's needs tQ specific reai
esfate producis. Fiorida native cognizant of cu!#urai difFerences and proficient in establishing
� s�,pport �viih b��vers and SellErs. infar�n8d on competiT+ve marketing sfrateg+es and acfivitias
to achieve high resul#s. Recogniz�d as a responsive and decisi�e person who can praduc�
desirab(e results sndepsnden#iy or as � ieam memi�er.
At the Keyes Comparzy initiafed fhe �or Safe By �Jwner ctasses to ieach nev+r associates the
basic abiiities to cabtain listings #ror. � For Sale By Owner thrcrugh a iist of marketing s#rategies.
�t the Ksyes Company has reesivec� ae.Eer 10G testimonial letters recognizing outstanding
nersonal service.
;�t The t�orthern Palm Beach Countv C1�am�ier of Carnmerce received the Ambassador af the
`:'e�r Rward 2�14.
.�st The �lorthern Paim Beach �ountv Chamber of Comrrierce appaintec3 Social 0irectar for the
,�1�tbassadors in 2Q1Q ta areser�`
riorida Raaitor Magazine avvardPa the Besf Artic6e Award for 2092
�t the Keyes Gompany in 2Q49 received the knner Circke A+rJard
�t tl�e Keyes Gompany ir 20Q5 receive� the Chairman Circle Aw�rd.
i'�lationa! Sales Award Reaity F�1lianc� 2��i5.
REALTCIR ABSdCiATE - THE KEYES COMPANY
!
�
j E�EGTRICAL JOURNEYM�Pi WIREMEN - LOCAL 345. MIAM!
�
MtAMI DADE COUNTY REALTOR ASS�CiA7lON - MIAMI
:�BR DESi€�NAT[f}t� - N�TIONAL 4SSO�i�Ti4t� 4� REa4LTORS — PALM BEF�CH
GC)LD CI�AST SCHOOL C)IF REAL ESTATE - MiRMI
ELECTRiGtANS LaCAL 349 - Mf�1M1
MfAM! DADE GOMMUNITY GO��EGE - MIAMI
SOUTH MfAMI HIGH - MfAMI
; ; a �
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Minimum Qualifications
`�.
• Broker must be a licensed Real Estate Broker in good standing in the
State of Florida
X • Broker must have a minimum of three (3) years experience in listing
and selling residential real property
X • Broker must have a local office located within Palm Beach or Martin
County, Florida
The following information is required:
X 1. Submit a Letter of Interest indicating your desire to serve as the Village's
Real Estate Broker
2. Letter of Interest should include:
X a. Number of years in business
X b. Description of firm or company including size of firm
X c. Location(s)
X d. Number of personnel to be assigned to this contract
*X e. Brief resume of each key person listed in letter "d"
X f. Pertinent real estate experience
X g. Marketing methods to identify potential buyers
X h. Types of marketing materials
i. Strategy for presenting the site
X 3. Provide a list of three (3) references including name, title, and contact
information for each reference as well as a brief description of specific
services provided.
* Resume for Cook only provided, not other team member
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Table of Contents
1. Letter of Interest fr�m Rebel Cook, Broker
2. Subject Property
3. Rebel Cook Resume and References
4. Marketing Plan
5. Rebel Cook Comments on Real Estate Market
LETTER OF INTEREST
FR4M
REBEL COOK, BROKER
���� I�EBEL ��OK r��al e�ta�t�
�
February 19, 2016 Hand Delivered
Reauest for Broker Services Letter of Interest
Village Clerk's Office
345 Tequesta Drive
Teauesta, FI 33469
Request for Broker Services for 483 Seabrook Road. 1.76 acres vacant land, Teauesta, Ff
33469 from Rebel Cook Broker with Rebel Cook Real Estate
Rebe1 Cook, Broker with Rebel Cook Real Estate is submitting proposal to be hired as real
estate broker to perform the services of marketing and sale of the subject property iocated at 483
Seabrook Road, Tequesta FI 33469
Rebel Cook real estate is established real estate company operating in Palm Beach County
since 1990. Rebel Cook, President and Licensed Florida Real Estate Broker, has been selling
residential and commerciat properties in South Florida for over 30 thirty years and has earned a
reputation as an expert in the reai estate in Palm Beach County particularly in the Northern Palm
Beach County area.
Rebel Cook Real Estate is a small boutique real estate company which offers personaliaed
service with a defined knowledge of the local reaf estate market, strong community contacts and a
gaod working relationship with other real estate agents and brokers.
Rebel Cook and Warren Borsch shall be the designated agents working on the property.
Both offer more #han 30 thirty of knowledge and expertise in the focal real estate market. Cook's
significant land sales in the area have included the sale of the 90 acre Jupiter Park of Commerce
and the sale of many developed and undeveloped properties in the Jupiter and Tequesta market.
Land sales have been a primary focus of our expertise in the market — the sale of land demands a
full understanding of land use and zoning and permitting requirements +n an area which we offer.
In addition to being an active rea! estate broker, Rebel Cook serves as President of the
Econamic Forum of Palm Beach County a 250 member organization of prominent business and
community ieaders which meets monthly to offer national speakers regarding the South Florida
economy.
This propasal includes a marketing plan to sell the subject property, resume and references and
comments by Rebel Cook on the current state of the real estate market. We are avai(able for a
personal interview andlor meeting to discuss this proposaf.
Thank you for your consideration. .
J2e6eE C'aa�ii, :�(3xu�c
www.rebelcaok.com
Mailing Address: 4521 PGA Blvd. Box No. 282 Palm Beach Gardens, FL 33418
(561) 622-9920 fax (561) 624-7030 mobi(e (561)254-3692 rebelcook@rebelcook.com
SUgJECT
PROPERTY
BeachesMLS - Palm [ieach County 'Iaac Report - 483 SEABROOK R... http://bmis.imapp.com/ilinkslproperty?upin=US 1209960424p250Q00...
� BeacheSMLS - IMAPP
� Palm 9each County Tax Report - 483 SEABROOK RD, TEQUESTA, fL 33469
PROPERTY INFORMATION '"""' N�
PSD# 60-42-40-25-00-D00-5140 - �Q(_ �`'�`:� ,_
,Property7ype: CwvernmeM , '��- .�� � � '
Propert/ Address: , �
483 SEABROOK RD �:;.� . - �� f � :
TEQUESTA. FL 33469 �� � ` - ' `
Current Owner. � " - �
;�=�':tN"'Gl; •,.. t� .
7EQUESfA YILtAGE OF �.�,,`'�q�}i �. �'% . . .
a�
Tax Mailing Address: ��, �i-; .- .-� � ..-.s�:.,� . % - . _ . . --. .,, - --
395 TEQUESTA DR - - - �
TEQUESTA,fL33469-3062 r� � '
Use Code: 89 j MUNICIPAL - dTHER : , - - W iKnv Rd
Toql Land Area: � � �� ' - �
1Ji66 acres / 76,520 sf - . ., _ . . � ,
land Areas: - � , Siiay P( � - - ' � -
1. VACAtJT RESiDENTU4L (0000) ' = w . .. �-°`� . ` . i {. ' ;� '
Area: 1.6895 acres /73,595 sf - - � - � . .` ' ; .
� , 7t' .
Zoning: R-1(city)/SINGLE fAMILY �, � � �� � ' -�-- - :'., n.u�iree F:�r
. .. n .
RESIDENTIAL DISfRICT - � . .. � ..
2. VACANf RESIDENTIAI (0000) I� . ...�� �-- - i. �
An2a: 0.0671 aQ25/ 2.9255f 4+PFop� r�Kep. Utv, � a � 2"•a r�
2o�ing: R-1(ci[y}/StNGtE FAPAILY Resideimcd Pcpkutlui;�f 6� GnvNrnmeni W:Aer
� �REStDENTiALD]S�WCT , �rom�nerc�nl ��ndust+ial �Qthe� �Cando
Frona9e: iao it '� Active �� Sold (`� Pending i,� Withdrawn (i� Expired
WaGerfron� No
' Subdivis+on: �` �pfeC1051N'E:
Censt� Tract/Bbck; 0�101 / 3026
Twn: 40S ( Rng: 42E / Sec: 25
Blodc: 000/ Lot: 5140
WtiWde: 26.96314
LongiWde: -�.09621
Legal Descrippon:
259692, N 130 Ff �F W 635 fi qF NE 1/9 OF SE 1(9 (LE55
EI Y 96.04 FT SFA&gJDK RD R/W )
� '" - -. . .' ' " _ _" _ _
VALUE INPORMATIQN (Ta,c District: 6oa61- tEQUESra (961))
2011 Finat 2012 Final 2013 Final 2614 Final 2015 Final
Improved Value: gp � $p $p
' Land Valuc $4,320 $3,888 $153,661 $162,8SQ $188,941
)ust Market Value: $4,320 $3,888 $153,661 $1b2,880 $1$8,941
� Percent Char�ge: - n/a - -10qo 3,852.19°h 6% 16%
; Tota1 Assessed Vaiue: $4,320 $3,888 $153,661 $0 $0
Totat F�cemptions: $4,320 53,888 $153,661 $162,880 $179,168
- Taxable Value: $0 $0 $D g0
Millage Rate: 22A274 2�,5937 21,5921 -Na- -n/a- '
Totai Tax Amount $0.00 ;O.UO $0.00 $O.OD ;0.00
_ _ Unk To Camty Tax CW�ctor
SALES INPORMA710N
Deed Type: WARRANTY DEED Price; $225,OW QuaFifiers:
Sale Date: 11/17/2010 Rxwded Date: DowmeM # Bk 24230/Pg 878
' G�nMr: FL1 LLC Grant�: TEQUES7AV�IAGFOF
,DeedType:WARRAMYDEED Price: $12,OW Quaiifiers:
Sa1e Date: 03/23(2000 Recorded Date: dowment # Bk 11678/Pg 134
' GfdnLW: MERNANOEZ AGUSlA! A 6r'dt1tC6: FL 1 LLC
Deed Type: WAWiAN7Y DEEp Price; $1,5� Qualifiers:
Sale Date: 10/Ol/1988 Rewrded Date: Document # Bk 5&36/Pg 119
Grantor. r�oc nva� Grentee:
Deed Typ� QUR C1AIM Price: $300 Qualifiers:
� Sa�e Date: Ol/01/1988 Reoprded Date: Document # Bk 5540/Pq 65Q
Grantor: riot nva�� GraM�:
Deed TYpe: QUIT QAtM price: $100 Qualifiers:
� Sale Oate: 06j01/i487 Rewrcled Date: Document # Bk 5328/Pg 1173
Grantor. Notnva�b►� Grantee: �
Vxent/Improve0 Codes; V=Vacant. 1=l�mvsd SaleQuaifiers:4=QuaN'i¢p, U=lkpuaYfied.O=Other(see riofe). M=MUhpk. P=Aartn1
BUILDING IdFORMATION
No bui�ings On this property.
PLOOD ZONE DETAILS
, Z� Uescription PanellC PubGcationDaEe
X Area that is de[ermined to be ouMide the 1% and Q.2% chance fbodplains. 1202280001C 09/30/1982
xPrmary (6oU hazmd status area. Otha Nootl hazmd ar�s thM ocar on Ms propety: -
X Area tl�at is detemunetl to he outside the i% and 0.2% chance floodplamms. 1201920106B 06/02/1992
� Pbte: W hen mu[ipp zon� are bted, the actual �atus may deps�d on where the s[ructure s bca[ed on the praperty.
SoufcC FEMA Q3 aitl(br OiiWA
O PropertyKey, 2016 � Information is beiiev�l a¢urate but no[ guarantced and should be indepa'�dently verified. � Powered by ProperLyKey
� oF 1 2/14/2016 8:50 AM
ATTACHMENT p
PROPERTY iNFORMATION SHEET
PROPERTY: 4g3 gEqgROOK ROAD
LOCATION: FR4NTING ON SEABR40K ROAD, APPROXtMATEl.Y 4 B�OCKS
NORTH OF TEQUESTA DRIVE, INCQRPORATED WITHIN THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA.
4FFERiNG: TOTAL pF 1,76 +J- GROSS ACRES.
LAND USE: LAND USE OF RECREATiON/OPEN SPACE
ZONING: CURRENTLY R/OS (RECREATION/OPEN SPACE)
THE SELECTED PROPOSER WILL BE REQUIRED Tp APPLY FOR
A REZONING OF THE PROPERTY.
THE PRppERTY IS ADJACENT TO BOTH R-i AND R-2 ZONiNG.
CONCEPTUAL
SITE P1,AN; SEE CONCEPTUAL SITE Pl.AN (ATTACHMEIVT B).
THE SlTE PLAN ATTACHE� fS CONCEPTUAL W NATURE. THE
PROPOSER MAY PROPOSE T(J DO A DIFFERENT
CONFIGURATiON AND NUMBER OF UNfTS. THIS CONCEPTUAL
PLAN IS FOR PLANNING PURPOSES ONLY AND THE FlNAL
APPROVED PI,.AN IS TO BE DETERMlNED BY THE VILLAGE
COUNCIL AFfER THE SELECTED PRUPOSER COMPLETES ALL
REQUlRED APPLICATION AND PUBLlC HEARlNG PROCESSES.
UTILIT(ES: PROViDED TO THE SITE V1A SEABROOK ROAD. WITH
SUFFICIENT CAPACiTY TO SERVE THE SITE.
SCHOOLS: JUPITER ELEMENTARY
JUPITER MIDDLE SCHOOL
JUPITER COMMUNITY HIGH SCHOOL
WORKFORCE
HOUS{NG UNITS
REQUIREMENT: NONE (NOT IN UN-INCORPORATED PALM BEACH COUNTY}
ATTI�CHiinENT �
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Co��ept�al DevelOpm�nt Plan
483 SEABROOK ROAD
Prepared by IRR
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Qualifications
Rebe/ Cook
Licensed Florida Real Estate Broker
AREAS OF EXPERTISE
Licensed Florida Real Estate Broker
President and Broker Rebel Cook Real Estate Company
President Of Economic Forum Of Pa{m Beach County
Seminar And Guest Speaker On The State Of The Real Estate Market
Frequentiy Quoted Source For Business And Economic Media on Real Esta#e
Member Commerciai Realtors Society — Past Board Member
Member Of Reaitors Association Of Palm Beaches
Advisory Board Of Regent Bank
Court Appointed Receiver
Advisory Board Of Palm Beach Dramaworks
Pas# Appointee To Palm Beach County 5 Year Oversight Road Committee
Sianificant Real Estate Experience
Sale of vacant tand parcels in Palm Beach County for residential, commercisl, public use
On site sates and marketing director for Jupiter Commerce Park. Sale of 90 acre corporate
park in Jupiter Fforida
Court appointed Receiver and Auctioneer for Slim's Fish Camp
Marketing and sales consul#ant for receivership projects Palm Beach County, Martin &
Dade Counties
Court appointed broker for sale of commercial and residential properties
Sale of 8 million dollar officetresidential complex Coral Gables, Florida, Dade County
Site se{ection, land assemblage, leasing, sales, training, management for new projects
including 30 acre industrial property in Miami, Florida Dade County
Leasing and management agent for 650,000 sq. ft. receivership property consisting of
commercial, retail and self storage space in Palm Beach and AAartin Counties
Site seiection and brokerage for major oil companies and other nationaily based companies
Site selection , marketing and sales director for new commercial and industrial
devetopment projects totaling over 800,000 sq. ft. of buildings.
Rebel Cook References:
George Gentile
Gengile Glas Holloway O'Mahoney
1907 Commerce Lane
Suite 101
Jupiter, Florida 33458
561-571-9557 ext.'f 03
george@2gho.com
Carlos J. Berrocai
Attorney at Law
Jones Foster Johnston � Stubbs P.A.
4741 Military Trail, Suite 200
Jupiter, Florida 33458
561-659-3000
cbe�rocal@jonesfoster.com
Russell Ruskay
Director of Business Development
Town of Jupiter
210 Military Trail
Jupiter, Florida 33458
561-741-2334
russ@jupiter.fl.us
additional references available if required
MARKETING PLAN
MARKETING PLAN FOR 483 Seabrook Road 1.76 acres vacant land
Aggressive Advertising which includes:
• Sign on Property
• Advertising in Multiple Listing Services Websites
Residential MLS - Loopnet - CoStar
• Rebel Cook Web Site — www.rebelcook.com
• Direct Mailing & contact to target area & prospects
• Personal Contact with other Real Estate companies
• Personal contact with designated prospects for proeperty
• Personal Contact with our database of prospects
Owner Participation:
• Frequent and Regular Update with Owner regarding marketing
• Market evaluations with Owner to discuss market response
• Immediate follow-up with 4wner as to prospect response
• Follow-through for successful closing
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The future looks goocl �o�� �C}F�, hut �vith it comes the had - and the unc�rtain.
(:�7nstti°uctton mi�,ht be sioued tt�e regivi�. a:�e s�urrentl� Ea(kir.�C ti4i�h
ley ��igE�er lanc� c��szs �tr�u At<eai!}, thi.z�s;tre ?c�c3kii�g tcsur.�smp�rt�es in th� l:le
.. ,�ike. i�r iabo; cosz;, thaoke ;c t�righ[ es hea+ it tnme� to bri:tg scie;i: e and medicat drtiicc
a l:mitec� stsppl� e�t ckilied,uh irg murr::e�m;�ani�.�s u� I��iSan indu�triFS:;hi�ut rnal:int� a
�ontraccurs. Anu, a:, ha� !}re:� i3e�c�� Col�iit�. :�'io�e. Three u� t?�eu� want ti,
the casc t�nr cererai }cars n�z�c. F�>r i��scaax�e, dcsrin� tIr=: hui be iu�auther;i Paltn ISea�l�
ttier�', rc� ::��k' uliire,�j.'+i �° t�� iila� ,ea;rn�, hrc1�;{• It�ncSc : un- (:<atir,t��, +ht- t:+itl.
,_ : _...... _ _ ...___,� . .
be had. tii:ued *o zntivare abnut m�� :iajur t�mp:�sves brmg
A{exdndr�CloUg,h Ftnall�. thr tt iid card: 2�.le� in�: tii�ir .u�t'c4�.niic> �c, t2�r :�i�h-,za�ir.}; {ratrs. Thc }' �bv
3��s:n�;;s }:<;tc� tivat ye�n t4 picaliy irr.3te � s,u:�i �, tizici Ee}i�� Smail• [:rin�;:n�rcaae� d'rman�i t�+r
m:irket uncNrtainr��. sn i•x{���ri ridge, pt�:�iiietrt �,f tFre 6usi- re st iurartt� eriii sho}�i. �i>uc]
sv:ne cc,�nF7aia�rs tr, �iela� t>i�. ness llet�et���ment Hoarct af n��e. €or tc�cai and nazianat
i ht n��x� �•t-a: � t�, ;.j�ec•is�nm, inrludirtK ra{�i� Palm Bearh Cauniv. ri�tailer� Ehat :ct� g��urink rno�:
t�rin�..�nother�earf :,tiexpendi;t�r���.iruihu�i7k, l:ietr�i�cluf}std�;e' r.} i�ite�thesc7unz�'•etrtertaiii-
For t'.s3*r Be:�ei� t;:xsnt�. itri� �itsri�.� t'rte latter x};ir� ��f rh� .�rnl E�, h:st<< t�t�uit� tir�*t> m�n ment a:n�1 business �iistrict�.
w�lti� che gt�r c��>m�=; the t>ail }�e:s* a. the �c�,�r.cS .3x cit�. i iia� :,�� � cr c;�. ��,s �.:j ,tar:ed a ft �� :�Si�lu�iiny: <�rra< �stvng PC�:�
..nd tlie un�ertaii:. re>utts «s the �c�teytnt;rr �ar��,,;- •e�;+ra ai� �, bitt i? ha; :iccelef.�t [�c�utevard in ['airn E3ea�h Gar
#I���€•"> tttr }a}nc: rxpr�ited clenr's;i! elec•ti�in ��d as �tc�a}th} itidis ici�;,xt� tler drr.s, f;lc rrra[i± 5treet u: Gt'est
d�iring �t`si=;:'�tc,rc cont�z�uiie: i:e�t assur��, tixu�zL, tir.+i #i�rh�ta� sta.e� it� r;}e \carth- Palm 1>� �+i�l� and :Ltiantic A��e�
ur� E<�mca 2o exp;tnd o= rclu t<,r mc„t oT :.'t ttt:, Palm Itearn cast. nue i�; S}ei�ay Be:+�h.
cate herr, ar,d i�ne�nptc�}n;en? c:��untt �ti il; :vrztinua tc� .re lir a�i4i,ic�n. acct>untat�T� �fark 4'itner, senicsr econ-
Shvuid to conu3tue tc� fait. if :ht samc grc>�4th in numer rh;�t �er�:e �he �+e;�ltn} in ontist at �tiells Fargv, a�reed:
gas j.>rices rf�main ic,u. tnuri,sn otic inclustries that is I„�. s��rr a;recf�t�ii�ii. t:t.. aitcl �ew t�>rk 't't.�° t��t�� r��stlouk t�a, picke�l
�vili sea� st=ong and cvi.tinue in �ES15, busiEte�s leacie.r� ars r<vti�+ are :t:;rTir.� to c<fncidc=r up, "and c13e quatitt� r�# ��bs
ta7 fui l r;z-ti� iurrei =zrnu th, nt�;s e�ce nnmists s:t} , p h has iticrca�eu tre{n�n�lou�h,.
� � t'I71P� 5:121'��iil U�:1i:k`.S 4ai:,
strc�n� c«nsum�•i >}�endics�: at t,a�t } ear u a, a�cn�u unr t; t, tu !.rr{; rl�e�r ; 3c1t rlFents t�e �aid,
resiai:raut+an� <hnps. e�}rparatt� deals, inc'fttdine the happy. "I'�'e mc•s :i'itli thrce l:nii�rtut�aaei}', ttlerc are t�u
'i'i�ere:ilesratt�me�!•krt.�iil b3u�kbustcr;at�neyur:cem�nt lat�l�,"tim;i;lricikecaic�. ne�tit1ass:�uffirebuilc3ingsir,
cunciiaue iu hi,li run, tc,o. as t>� l:nited'1'echnola�,*ie..ha� �aaaiir;dze etpeets tp con- �ahich co iit ehese cumpanits.
hrnrsing e�n�t c��mmryrrial �+r«i� ii wotitd �xpattd'scs pre�.ezlc� tinue u,•c�� ix�t ni;lt hedg:� an�l n< neti� under �nn
etis iti tl�e pipelir7e :>tart ur her� �aith ih4 creaF;oti {�f ,+ c::< f�+zd� n�avins? to i'aim C�each struriion ri�ht noi�, so ol+�er
r.curplete r.r.�n�tr;z4ti�+n. t��mer sho���cas� for i;s �ttiid C+xcftt} btit a}au iitiaiicia# ser buil�#inga tei33 ha�e u: be retru-
�i�iY. the :?cicl, Risii�� Iluu> it�� �ruaucts itr I'alt�r Beact�: ti;ce. firn;s, cnrpnrrte 13ead- fitced.
in� cc �.� i':i tnal.e i� dit€ici:l; e„�rden^�. `t'h<r proj�ct «�lt t;itarcet4, mi:di�ei deeice� mal. �:tieza i� a ne�y n$ice bui)d
fa*, per7pl� t:�r���inn ti� rc� tt� ;�nit br'st1�, -:wc> juhs n�i� a �a;�ir,�'_ rr,, `�i��;�-ic�ncca <+.n�l �listrih2,-
an ;iff"rar��abir plrce tc� li4e. ir,�estme*;t oY Sil7 mi!li.�r. tr, tian rnrnr:�nies.
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V�ImBeathdr,irona{�elstiGrtenepFanstoeuqOdntWertPaim.a:wan RcatestatebrokarRebetCaoksatdxherwticesmareyoungpraisssionalsdrawnte
- .-;. ' C4Ch�JiO Qd3@tibu4111E55E5�!sOYiit$LOth@d�Cd. � "..• �•..' . , ..
- EP4KT8t1CGJRiA{Ea8t5�${.+QUBtltiHt'iiWC3LOS�tt�$83Ch-<.. .., - . � . ('J" ..., a_.
�i�DU�i"1 in�costs. such as soush ��{Ct@C S81t� �'101151C1t� ats such a, sceei is taw iiai etecr,un ;n iovember.
t'aralim. t^r than it wa� durin� Fhe ° Ctu� i�� the �.rcuacl iialt
cen>.;rueo°�eM a�' Not �nty is housit�g $�Cl1'C�1�?1�1"��f �5 �V@11 1N01'S@ rcz� est�te bunm, whr� at the vear, it beromes
bzi nmin+ton ex{sen praieccs in China end mare �f a distraction,'
in�weretastartroustruc• �itief<�rmanyree,rees.u's t�"1afl It W�S �1C{C 1�"1 tf11B �urc�prt�eregotsbhn�up �'itnersaid.�ocumpx�
tion mcla;�, it w�outd nt�t aiso ea�pensive for re�natat av�ilabie s��pgt}•, Gotrveia nies may hvld off on
i�e readq fr�r a�sc tu°u wnrk�n�; tatttiliex as wi+li r�t�� e�ta�E' �OOTT1 Of � Q�s sa;d. inajux pra�ertx until they
crr ehree years. 7'hat tim� as miilenn'sa[ coilegegrad• a�(' ,2�0� That b�G��$� Fhcrc are s�3me unter sec the resu}ts.
in� isn't R�ad Smal3rid�e Uaces wha nana to work tainties in 2t�i6, drisen by �cr�fi said companies
s:+id �ompanies naw tsave and Iive in i;�tns t�each housing priees now have risen ta�c+7rs ouzs7cic ut t'ior�da. also are �niaciiu! eiot �Fni>
a n�uch shc�rcer tisneframe Coun�y, Thr Fecirrat Reserve of the presidentia3 efer
for a re#oeation thrse Pnr y�ears, husiness faster than wag�s rece�vtv ; aised inaerest tic,n, htiat canR*ressio
days> usually a year tu 18 Icaders have ca1Ae�1 rate5, :ilbeic a yuarter ot a nal e}eevuns chat iiawe
months. �baut the "brain drain" percer�c. The $lobai econ� a,2reacer k+earin� on cas
>ma)Iridgr saiJ shi's ut yc+unK peuple Ira��t3}; fur t@e.si.' �l'r>; i' �Ity: ttr.:. ii_ ��my is.ha6t, espi�rial2� i��ue>.
encouraged t�alm Litach t�a#m Eieach County �vhan V�znee >aid tson.irw i hi r�n3} hri�ht spc�t in 1..asin America, wflerc
hItlinnaireJeffGrcene, 2hey go m coilege ancf aRoruabili?}• Is e�ert �w,rse :� hen it c1;me�4 ca t:rrn� a tot of the mnnr� fuelin� z.�•�..+r:v,:? ,.�x�..v�re=:s
whowuntstabuticlOne theti�feti`ex;etutnita�tt� ahasiitHS�tre�►.inif;r �ttu�[iv.i�ustsist}t.�: ;�.�lest.�te�urchases�rig �>xv;t^�r-s_•�c�w���a:.�
Wrst Aa1m, a tain-taa • ehe counn� to tind wor4:, rea! estate bonm a1' lC�UG cummoc�itie� pric3n� is :natas, t'imer �aid. es-at� 3r, : tra av:
ernfl'ice,�horet.ta} Smallridgesaid. and2t)u?.T'hac'�her;�uce �+.ab1e.'C2i,3t'shrc�acz.e Al�t��is�rtear:'1he R::.:v�r��;;cft>r.::sc
cam�rlrx at S;t}Quadriile ti�tt amvnnre. Rrbel huuseng price+ nuw ha�e Jemun.t fo: cnateci effect oi chu �rresidt�n ,...... �s nc c��r.eta
in Wesc Palm 8eac2�, tu Cook, a rea! estatc broker risen taater tt;an wages.
�•ork nn lurinK campan�rs witit t2ebel t.qok Rea1 ticrusi�g c�rsts ar� :�F
m cown that ran make a �state in Paim Beech Gar due to inc=ea.c�d demanei
move t�uirkl}� tn his pro�• dens an�1 presidant of zhe trorn a�rcawth in che
rrz�•, once he starts coar F.cunomic Forum, said arra's pvputasinn. cvn;
scruct3on, she noctices more ynung� bincd xnth a limise�i st;p-
"i'he sp�ce these mmpa er prcafessiun:�lc mov plr.
nies lea��: brtnr�d at exist� i»g tn Palrn Reach t:vucY ?�ew hom��s. inctud
ing Cta.ss A o3fices theo ty. A number p(them ir� single•iaanilr re4i
can be grnbbed byhusi are drawrti ta the roun• drnres ar.d snuttitam�
r2e:.>es comiri�; front uut of ty'sgrc�winK teztsn�lu l} apartmentt ur 4�.u3o>,
state, she said. kr,y�ased busine€ses. are untikety cn bec�nmr
Noustng is anvthcr Su nuw ittat the cuus� lc�, exper,s�vi� i��:t�tn. in
pr�biem f�r 2016, and ty pffers a greacer range iacr. copscnaccion r�sts
wiihnut a fereseeahle Gx. i+f joh ch<iiees, °we h:,v� are ricF�t� due so rscalat
t'itner xaid housfnK is a ditfrrnni issue." Small in� 3and cust+end now,
hemtning anainat�ir on3y ridge said. "COmpa»les risin� labnr costE, sard,ef•
G�r wealtM retirec±. AtSd nerd ttuliennials tu he1�2 frny L'ouveiatr.. �>r���'s
die•inrome recirees, how- titiith techrwtog}• aaxd inno- dent and genera) manaK-
ever, are oprin� f�r areas Latinn but wc can't tind er o4SuN'otk i:oncaiar
w)th less es{�rnsive hous- hc3using thaYS affardable tion's southc;+s� region i:
The Palm Beach Post
REAL NEWS START� HERE
Economic engine or traffic gridlock where is
Indiantown Road going?
� By �3_i11 DrPcro�� - Palm Beach Post Stuff' Writer
Posted: 12:36 p.m. Suturday, .Sept. 6, 2U14
JUPITER—
New restaurants. A(uxury movie theater. A gated community with 275 residences, retail and biotech. A
bigger gas station. A new medical office building. A$150 million entertainment center. More retail All these
are being built and proposed on fndiantown Road, the town's main east-west roadway. The road starts at the
Maltz Jupiter Theatre an State Road A 1 A and goes west about a dozen miles past Florida's Turnpike to the
Beeline Highway. In between are local places like Average Joe's Pub to auto dealerships to giant retailers
such as Wal-Mart.
Some northern Palm Beach County residents fear that traffic will overwhe(m the mostly six-lane raadway. The
determination many had to make Indiantown Road a tree-lined main street has lost out to strip shopping
centers, big si�ns and overburdened intersections, said Phit Cipolla, a member of the town's Planning and
Zoning Commission."We didn't want Indiantown Road to become anotherNorthlake Bouievard. With all
this new canstruction, that dream is slipping away. (ndiantown Road is getting junkier and junkier and
junkier," Cipolta said.
But Rebel Cook, a north county commercial property Realtor who is the agent for a 2-acre vaeant
pareel on Indiantown Road near Town Hall, said Indiantown Road is a future economic engine for
Jupiter. `�If I had �ve properties on Indiantown I2oad, I couid sell them right now," Cook said.The fact
that there is little undeveloped tand on the town's main road to and from the beach makes the prvperty
valuable, Cnok said. As that inventory shrinks, the properties with oider bnildings will be redeveloped,
said Cook, whose office is off Indiantown Road near Wal-Mart: `The traf�c is not that bad. The
complainers are old-timers who don't want growth or development. But they have to understand that
deveiopment brings revenue to businesses and tax dollars to Incal government," Coak said.
Efforts are being made to relieve trafficThe town is acquiring property to build (sland Way South, a reliever
road to take drivers from Indiantown Road just east of Interstate 95 south to the Jupiter Park of Commerce and
to Central Boulevard. Construction is p(anned in the next several yearsBuilding a road connecting Florida's
Turnpike and I-95, etiminating the need to use tndiantown Road, also is under consideration.
And much of the new construction —Braman, Fresh Market, Chasewood Plaza — is infill. Those projects
replace existing development and will nc�t add more traffic, said Planning and Zoning Commission Vice
Chairman PatrickRutter. "It's not additional square footage. It shows the viability of (ndiantown Road,"
Rutter said. But the additional development still makes Indiantown Road destined to become the most
congested arterial roadway in Patm Beach County and a virtual parking lot during peak-hour traffic periods,
Page t
The Palm Beach Post
Councilman JimKuretski said. "Projections for traffic on the segment of Indiantown Road between Center
Street and Central Boulevard indicate that it coutd by operating at a whopping 50 percent above capacity in 20
years. That traffic level represents gridlvck and will be intolecable,t�uretski said.
North counTy residents can expect a boost in traffic in the fal{ whe�iiarbourside Place opens. The $150
million complex features a 179-room hotel, a marina, an outdoor amphitheatre, shops and restaurants with
outdoor seatin�. The parking garage has room for about 95[� vehiclesThere will be more traffic in the spring
when Wal-Mart finishes its expansion to add a full grocery store to the building at Center StreetBraman
BMW has started work on a new 18,040-square-foot service and sates building and a parking garage on the
3-acre property on the norkh side of Indiantown Road, just east of Center Street. Public parks are planned on
[ndiantown Road at Jones Creek and Center Street.To the west, the 275-unit Lakewood development is
scheduled to start construction at the northwest corner of tndiantown Road and Florida's Turnpike. The
DiVosta project includes a restaurant and a pharmacy, as well as 150,OQ0 square feet of biotech.
Currently, daily tra�c figures on Indiantown Road reach or surpass 50,300 capacity between Center Street
west to I-95. The highest daily figure is about 60,000 between i-95 and island Way. (Jther sections of the road
are below capacity, according to town and county figures.While those low traffic figures for lndiantown Road
west of Jupiter are good news to Jupiter Farms resident Bill Thomas, he wonders how long it will last."There
is a ton of traffic now, especially during rush hour," said Thomas, who owns West Jupiter Camping Resort in
Jupiter Farms off Indiantown Road, about 5 miles west af Florida's Turnpike. "More building will only make
the traffic worse."
Page 2
The Palm Beach Post
�z��� �v�v�j.� � ��:��s ����
Theater seeks site on Clemat�� Street
By A(c�andra Cluir�l� - Palm Beach Post Staff Writer
Posted: 8:Q0 a.m. Friday, Aug. 7, 2015
Is Clematis Street in West Palm Beach about to become a tlleater district? An investor is under eontraet to buy a
building in the 500 block of Ciematis Street ta serve as a theater for The Naked Stage Theatre Company, an
established entity that produces innovative performances of classic and new works. lf the deal goes through, the
street would gain its second theater: Palm BeachDramaworks aE�chors the s.reet's east side, at 2Q1 Clematis Street.
"This will pat Clematis Street on the map for tive theater," said Rebel Cook, #he braker whu is handling the
purehase of 522 Cfematis Stree�
'1'he building's buyer is Miehaet Paul, a Boca Raton investor whose daughter and son-in-law are Katherine and
Antonio Amadeo, award-winning theater actors Performances by �I'he Naked Stage have won numerous awards,
inc(uding the coveted Carbonell Award. The Naked Stage now holds perfonnances at Barry University in Miami.
But Paut wanted to finc� a property in Palm Beach County, where he, his daughter and his son-in-law live. Although
he looked in Delray Beach and Lake Worth, he settled on 522 Clematis Street in West Palm Beach. "This is the arts
and entertainment district of West Palm Beach," Paul said. "'The synergy between having Dramaworks on one end of
Clematis and having another theater at the other end would be terrific."
Paul said the theater would truly create the flrts and Lntertaimnent District that city leaders are trying to shape
downtown. The 6,SOQ-square-Foat theater would feature 150 seats and state-of-the-arts light and sound, Paul said. He
expects to spend about $3 million to buy and rehab the 1922 building. Paul said The Naked Stage typically appeals
to adults in a younger age category, ages 25 to 50, than classic theater performances. The theater also would affer
Theater for Young Audiences, or plays appropriate for a11 ages.
Goak, of Rebel Cook [teal Estate in Palm Beach Gardens, said the theater wauld further tie the Clematis Street
corridor in with CityPlace and the Kravis Genter for the Perfornting Arfis. The additional theater tivould �ppe�al
both to downturn urban dwetiers as well �s subarban residents who come dawntown, Gook said. lt waatd
diversify Clematis Street's offerings, naw mostly bars, restaurants and a few stores.
Cook said the the�ter also would boast ef€arEs to attract more companie� to the city's cor�: "Yau cannot bring
good basinesses here withaut a strong cuttaral base," said Coak, who alsa serves as president of the Eco�omic
f�orum, a business group.
An attorney for Paut will go before a West Palm Beach committee on Aug. 12 to seek a code variance and allow a
theater use at the location. Current city code requires the property be used mostly for retail, even though the city says
it wants more culture and arts downtown. Theater supporters already are lining up: The Chamber of Commerce of
the Palm Beaches sent West Palm Beach Mayor Jeri Muoio a letter Aug. 4, urging support for the theater and an
exemption from the retail requirement.
The property formeriy was t�uthentic Provence, a garden antiques re#ailer, bat the store relocated, and the
Clematis Street property has been vacant a couple of months, Caok said. Pau[ said he's still in the due diligence
period but could ciose quickly on the peoperty if the city gives the OK for a theater.
The Palm Be�ch Past
��1`5l_�.1 ��.��� l�l H�1l6La
Bass Pro Shap planned for Carl's Plaza narth of
P�A Boulevard
;
By BiT1I)iPcr<�1�� - Palm Beuch P�st Sta�f�Writer
Postec�: 12: S� p.m. Wednesduy, June =�, 2�1 �
Palrn Beach County might soon be landing its first lacation for Springfield, Mo.-based Bass Pro Worldwide
Sportsman.
The plan for the 6-acre site on the east side of U.S. t north of PGA Boulevard calls for renovating the former
Carl's P(aza for retail, warehouse, office and vehicle and boat sales and rentalSeveral stores are vacant in that
area, including several in North Beach Plaza, a shopping center on the west side of U.S. 1 north of Carl's
Plaza.
The new sporting goods store should give an economic boost to the area, said north county commercial
Realtor Rebe! Coak. "A large retailer like &�ss shnutd hclp the othcr retailers," Cook said.
Bass Pro Worldwide Sportsman is a mix of outdoor retail products in an open-air setting for boating, fishing,
hunting, and camping er►thusiasts. Other locations feature indoor waterfalls, boating displays, giant aquariums,
and Iifeliketaxidermy.Thecompany has nine rlorida stores , with new ones in Tampa and Jacksonville
planned. The nearest one to Palm Beach County is Dania Beach.
The U.S. 1 property, in unincorporated Palm Beach County, was bought for $3 miilion in 2013 by
Tampa-based Redus One, according to Palm Beach County Property Appraiserrecords.The shopping center
has 309 parking spaces. Two af the existing three access points to U.S. 1 are planned to remain.
The company's plan to refurbish Carl's Ptaza on the east side of U.S. 1 just north of PGA Boutevard is
scheduled to go before the Palm Beach County Planning and Zoning Commission Thursday at 9 a.m. at the
Vista Center Complex, 2300 Jog Road. The plan includes an area for boat sales.
The Palm Beach County Commission must then approve the plan before c�nstruction can begin. The
commission hearing on the plan is scheduled for June 26, 9:30 a.m. at the Governmental Center.
�H E ����. C� �AL
SOU7H FIQRI�A REAlES7ATE NEtNS
SlimFast gains weight in Palm Beach Gardens
Company will have 13,000 sf in a 10-year, $4.SM lease
By Dan Weil
June 1 �, 2� 15 09: =lSAM
Sliml�ast, the diet roducts com an is comin �� �= � � �� "
p P Y� � ;'�. �' � :,��� °����� � , � x
back to Palm [3each County — the Golden Bear � � �"� �����"�.�,�'���,��� � �`���������� � �
Plaza in Palm Beach Gardens to be exact. The ` �=�u`� .''"�� ' � ���"�'
�':
�� 6ti.a '� L l �. P . � N *$ 'e,. .. .
company, foundcd by billionaire Uaniel Abraham, ` - � "y ' ' �" �,� • �"�;� °` �
,
.. ..� ��,, „ ��
is taking a full floor with 13,000 square feet of �.�> ,�, ���*�'� "�'��� '����
space in the Class A commercial building. It will .� � �` �,: �'` �.�Y ` `�
�. � � .�' J ,���. .
have a 10-year, $4.5 million lease, with a starting '� � w�, ������ "'�.. � � w:�':
�� � �: �w ���
rent of $20-$21 per sq�►are foot triple-net. Thc ° '� � �'�'�� m � �,� �- �;�
offices will serve as the company's national a�;" �, ��""�"'��>"`'''� �'"� �� �' �
, r ' '. ,�,•�"� � � �� ..
headquarters, with about 50 en�ployees. I '�� ��� '�°�'"�� � �+��. �, °�a � � w ,�, 7 � �
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Under Abraham, the company was based in West ����,`���� �„�"� � r�,��� ;,� ������� `�`
Palm L3each until 2000, when it was sold to
Unilever. Dallas-based Kainos Capital bought the company last year. ""1'he `I exas guys wanted to be on the East
Coast," Neil Merin, chairman of NAI/Merin I lunter Codman of West Palin Beach, which negotiated the lease
on behalf of Golden Bear, told 7he Rea! Deul. "They looked around Florida, and saw that it's easy ta hire. They
wanted a good corporate showcase facility for whcn they go public.'' So Palm Bcach Gardens was a natural, he
said. "It's a high-end community with a panache f'or corporate facilities similar to what E3oca Raton had 20
years ago." Golden Bear Plaza, named atter golf legend Jack "Golden E3ear" Nicklaus, whose companies are
based there, is owned by Equus Capital Partners of Yardley, Pcnnsylvania.
Demand for Class A space in Palm Beach Gardens is soaring, Merin s�id, with the vacancy rate dropping to
under 10 percent from 19 percent a year ago and rents rising. I-lis firm and others are negotiating corporate
headquartcr deals f'or several private equity and hedge-fund tirms from the Northeast. 't'he problem is a sho�
ofi Class A space in the area. `E3ut what else is new?" Merin said. ""I'raditionally, developers in Florida won't
build on spec like other parts of the country. It's a combination of the recession aftermath and lenders want
more equity." He's not impressed with local government's eftort to boost Class A construction. "1 love the i'act
that politicians and non-professionals are screaming `Please build more,' but unless you wil! guarantee loans,
developers won't go for the risk."
Rebe! Cook, President of Rebel Cook Iteal Estate in Palm Beach Gardens, also said local officials must do
more. "You need a fast-track permitting anci development process, probabty in all of Palm Beach
County. Permitting and zoning takes so long," she told TRD. So companics that want to relocate in less
than a year arc choosing locatians that allow quicker construction. "Then w�e lose out," Cook said.
H� ����-.� �EA
L
SOUTH FLORIpA REAl�S`iATE NEVJS
Plan for mixed-use project, AC Hotel i� VVPB wins first nod
Plans include a Marriott AC Hotel, 300 apartrrrents, 50,000 sf'of retail a`zcl commercial space
Ja�i�ary 08, 2016 12:OOPM
I3y Uun Weil
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West Palm Beach officials have granted preliminary approval for Navarro Lowrey to develop a mixed-use
project at the old city hall site at the norther�� end of downtown. The five-story, 57,400-square-foot building,
which sits on 2.27 acres of land at 200 Second Street, has stood vacant since 2009. It would be demolished �o
make way for a 180-room Marriott AC Hotel, 300 apartments, 50,000 square feet of retail and commercial
space and a parking garage with 400 to 500 spaces. Navarro Lowrey would pay $ I I.5 million for the site.
'`The site is highly valuable, because the location is close to Clemat�s Street and along the �lntracoastal]
waterfront," Frank Navarro, managing principal of� the West Palm Beach developer, told 7he Recrl Dec�l.
"Strategically the project creates a link to more development going north to Good Samaritan Hospital. Its uses
meet the economic and planning goals of the city."
Local real estate pros offer a positive assessment of the project, though they express a few minor qualms.
When it comes ta the apartments, West Palr�� desperately needs morc, particularty downtown, local real
estate pros say. "Housing is as tight as I'vic ever seen it�," Rebel Cook, president of Rebel Cook Real
Estate, a commercial rea! estate services �rm based in Palm Beach Gardens, told TRD.
On the retail side, Reichel thinks the project can do well with "incubator" spaccs of 500 to 800 square ieet.
But Cook sces uncertainty for the retail component. "It's a block away from Clematis Street — the main
thorovglifare of downtown — and retailers are having a hard enough time there," she said.
"Anytime you take a publicly-owned property and get a developer involved that can create activity and
increase the tax base, that's a positive," Bill Reichel, president of Reichel Realty, a commercial real estate
services firm based in West Palm, told TRD.
Reichel noted West Palm Beach-based Navarro Lowrey's experience as a developer. According to the
company's website, the firm, founded in 1993, has a South Florida portfolio that includes EcoPlex and One
Lakeside, both in West Patm Beach.
As for the hotel, Marriott AC brands itself as an occupant of "select, urban, hip locations ... with Spanish and
European roots in our soul." In September, the brand launched its first newly constructed hotel in the United
States in Miami Beach. The AC Hotel Miami Beach was developed by Robert Finvarb Companies.
Navarro says the hotel may get business from attendees at the nearby convention center; business travelers,
particularly those coming to the Palm Beach County Courthouse, located several blocks away; and tourists
interested in exploring the town of Palm Beach.
He and others note the success of the Hyatt Place, located about one-half mile south, which opened in 2009. The
new hotel will have the advantage of facing the waterfront, Navarro says. "Nothing against the Hyatt Place, but
this will be a sexy alternative."
And Reichel offers this note of caution about the entire project: while it looks great now, "when things get
completed the world can change" It wiil tikely take 18 to 24 months to finish the development. In that time, the
economy can take a turn for the worse and interest rates can rise substantially, putting a serious damper on the
local real estate market, Reichel points out.