Compson Financial Center
Tower 1 - 119 E Palmetto Park Road | Boca Raton, Florida
July 28, 2023
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AT ALETTO SQUARE
Tower 2 - 120 E Boca Raton Road | Boca Raton, Florida
About Colliers
Our Values
What sets us apart is not what we do, but how we do it. Our enterprising culture encourages our people to think differently, share great ideas and create effective solutions that help clients accelerate their success.
- Be enterprising to exceed expectations - Collaborate to drive exceptional results - Invest in relationships to deliver enduring value - Be experts to lead our industry into the future - Do what’s right for our clients, people and communities
$4.5B
Revenue
(US$)
66
Established in
Countries
2B
Managing
(square feet)
51,000
Lease/sale transactions
$98B
Assets under management
18,000+
Comprised of
professionals
Unmatched Experience
Our team brings substantial previous successes, key relationships and decades of experience in Palm Beach County to strategically position Compson Financial Center at Aletto Square to local and national occupiers.
Unparalleled Access to Data
Exceptional Execution Skills
An Extension of your Team
Results & Process Driven
We dedicate enormous energy and time cultivating data and sourcing prospective tenants from a global pool to achieve full occupancy in the shortest possible amount of time.
Our talented marketing, communications and design professionals build custom marketing campaigns from the ground up.
Our approach is collaborative, nimble and informed by uncommon knowledge. By aligning with your core business needs, we develop and execute customized real estate solutions to support your growth strategy.
We understand lease negotiations and manage the process to minimize disruption, mitigate risk and mediate competing perspectives. You can count on us to stay in the deal, from conducting a great tour to delivering the signed lease.
Why Colliers
Scott Brenner Executive Vice President
Gary Gottlieb Executive Vice President
Derek Baker Senior Vice President
Marc Fechter Vice President
Angie Ruiz Senior Client Services Coordinator
Verity Mosquera Research & Consulting Manager
Office Services
Direct Support
Eric Forshee Role: Leasing Lead | Point of Contact
- Market Leader and Senior Vice President/Principal of the Landlord Services Group for both office and life sciences in the Triangle - Ownership/developer background and thinks like an owner, ensuring every transaction creates value for his clients - Leverages a unique balance of creative ingenuity and financial acumen to deliver comprehensive leasing strategies that position his clients’ success through innovative property marketing, competitive analysis and risk minimization with thoughtfully negotiated leasing - Native of Hickory, NC and has lived in Raleigh for seven years
Clients
Wake County Public Schools StrideBio HCL Relias Pendo Chiesi Black & Veatch Jacobs Engineering AIG Bank of America Red Hat The RMR Group
Ryan Toland Role: Tenant Representation Insight
Channel Advisor Corporation Grifols UNC HB Fuller Spiffy SEC of America INDY Week Loyola University
- Leads the Occupier Services team for Colliers Raleigh - Focuses on advising and representing corporations and office space users in their strategic real estate initiatives - Diverse client base spans a variety of industry sectors including: pharmaceutical, life science, software and technology, manufacturing and professional services - In 2020 alone, Ryan negotiated over 400,000 square feet of lease transactions valued at approximately $50 million
Scott Adams Role: Executive Oversight
Certified Commercial Investment Manager (CCIM) Commercial Real Estate Council of Hampton Roads: “Hunter A. Hogan Award” as the region’s highest producing broker “Deal of the Year” winner for Office Investment Sales for 9 consecutive years Archon Group’s Award for Exceptional Performance in Sales Brokerage
Accomplishments
- Over 27 years’ experience in the commercial real estate industry as an investment sales broker, corporate leader, project manager and consultant - Led the negotiation and sale closings of $1.7 Billion of investment sales - Consistently been recognized as a top regional dealmaker and trusted adviser for institutional and local owners - Leadership responsibilities for all regional corporate support functions - Actively involved in serving the military veteran community
Michael Lirtzman Role: Executive Oversight
State of Illinois Licensed Real Estate Broker Board Member of COLBA (Chicago Office Leasing Broker Association)
Involvements
- Highly experienced commercial real estate leasing broker, owner, operator and manager Proven expertise in leasing, acquisitions, development and asset management - Directly responsible for building and managing leasing and operational teams in multiple markets across the country - Over 3.5 million square feet of office lease transactions creating value for property sales well in excess of $3 billion
Caroline Thomas Role: Client Services Lead
B.A. English, B.A. Visual Arts, University of Dayton, 2013 Cum Laude National University of Ireland, Maynooth
Education
- Began her commercial real estate career in Indianapolis, Indiana, where she facilitated over $600M in transactional volume - Marketing Manager in the previous Colliers Raleigh affiliate office - Leads marketing, operations, and client services as Client Services Lead - Specializes in tailored marketing and transaction support - Delivers presentation design and support, listing preparation, gathering market knowledge and coordinating promotional and post-sales marketing materials
Maddie Holland Role: Research Manager
Guilford College, BA History & Religious Studies Class of 2013
- 5+ years with CoStar Group - Oversaw all transaction, construction, absorption and property ownership information for the Charlotte, Triad and Asheville research markets - Supports all of the brokers in the Raleigh Office in all property types - Loves the challenge of taking complex data and making it easily digestible for a wide audience and providing professional insights and opinions on the future of the Triangle
Direct +1 919 582 7925 Mobile +1 919 576 4044 ryan.toland@colliers.com
Direct +1 919 582 7936 Mobile +1 704 650 9307 eric.forshee@colliers.com
Direct +1 757 228 1836 Mobile +1 757 619 1846 scott.adams@colliers.com
Direct +1 312 612 5933 Mobile +1 847 222 3151 michael.lirtzman@colliers.com
Direct +1 919 582 7930 Mobile +1 574 612 0954 caroline.thomas@colliers.com
Mobile +1 914 400 8545 maddie.holland@colliers.com
Julie Northcutt-Dunn
Executive Managing Director
Michael Lirtzman
Head of Office Agency Leasing, U.S.
Executive Oversight
Kris Mitchell
Dir of Business Development & Strategic Resources
Haley Boatright Senior Research Analyst
A Deep Bench
Maria Russo Senior Marketing Manager
ESQ., CCIM, SIOR
SIOR
Market Overview
Boca Raton is considered one of the most affluent areas in the United States with an average household income of $153,000. The city is also a highly educated community with 70 percent of the population having a college degree. Additionally, Boca Raton ranks 10th on CNBC’s list of top U.S. town where millionaires are buying second homes, reflecting of the influx of people and companies lured to the city. The city is home to half of Palm Beach County’s corporate headquarters including Tyco, ADT, Office Depot, Canon, and TransUnion to name a few. Additionally, the City of Boca Raton is supportive of technology and innovation with the Boca Raton Innovation Campus, the FAU Tech Runway program, the Research Park at FAU, and the Park at Broken Sound.
Downtown Boca
Boca East
Boca Center Office Park Tower I
5200 Town Center Cir 1986/2000 119,832 78% 26,022 0 $45.00 NNN $18.09 (Incl. E&J) 4.00/1,000 SF Vanderbilt
Address Year Built/Renovated Building SF % Leased Direct Available SF Sublease Available SF Asking Rate Opex Parking Ownership
Competitive Set
5100 Town Center Cir 1988/2000 112,229 73% 30,680 0 $45.00 NNN $18.86 (Incl. E&J) 4.00/1,000 SF Vanderbilt
1800 N Military Trl 2008 145,171 67% 48,335 0 $42.00-$45.00 NNN $15.80 (Incl. E&J) 4.00/1,000 SF Vanderbilt
1751 N Military Trl Proposed 130,000 0% 119,645 0 $60.00 NNN (office) Est. $16.50 (FS) 4.00/1,000 SF Butters
Boca Center Office Park Tower II
Boca Center Office Park 1800 Boca Center
Midtown Place at Boca Raton
Bank of America Tower
Mizner Park
One City Centre
Former Lord + Taylor Building
150 E Palmetto Park 1970/1997 109,497 82% 12,714 7,555 $38.00 NNN (office) $19.85 3.00/1,000 SF Grover & Corlew
225 NE Mizner Blvd 1999/2003 167,440 92% 13,110 SF 13,333 SF $40.00 NNN Est. $17.84 (Incl. Elec) 4.00/1,000 SF Brookfield
1 N Federal Hwy 2001 46,541 30% 18,381 14,074 $32.50-$35.00 NNN $18.50 4.00/1,000 SF Penn-Florida Realty
200 Plaza Real 1996/2003 79,636 0% 79,636 0 Unknown Unknown Unknown Brookfield
1
2
Palmetto Park City Center
120 E Palmetto Park 1996 66,966 83% 11,623 0 $70.00-$75.00 NNN $19.21 3.11/1,000 SF Grover & Corlew
The Park at Broken Sound (Office Depot)
6600 N Military Trl 2008 650,000 58% 271,244 0 $32.00-$38.00 NNN $15.00 4.00/1,000 SF PEBB & BH Group
Business Plan
• Suggested Renovations: o Overall, the building presents well and with a delivery of 2020, it is in line with the properties currently delivering in the market. We do not recommend any major renovations to the asset. The major focus of capital spent on the asset should be geared to the vacant spaces. The shell spaces must be lit and staged properly. There should be impactful marketing pieces throughout the spaces that are memorable on both prospects and brokers. Space prep must be completed to the highest standard. • Additional Recommendations: o The most important focus for the new ownership is activating the 11th floor retail space and tenant area. Currently, this space in underutilized, while being a unique offering that no other office building can provide in the market. It needs to become a destination for both tenants and visitors to the property.
Aligned Interests
Understand the goal and objectives of Compson. Prelease requirements and the Project Timeline.
Predictive Analysis
Use advanced situational analysis to determine future demand drivers by comparing your property to the competition and broader market.
Property Optimization
Provide strategic advice based upon real world evidence to create competitive advantages and proper market positioning & messaging.
Branding & Marketing
Brand identity is essential. Marketing materials and a strong identity help evoke an immediate reaction & produce a positive and definitive reaction.
Targeting & Outreach
Maximize our relationships with both users and the brokerage community and apply best-in-class marketing tools to segmented targets.
Create an Experience
Prospects and brokers must leave with something to remember. Tours must be experiential. We will follow up with impact.
Deliver Results
Obtain the best possible leasing terms through our aggressive negotiations and deal making strength.
STRENGTHS
CHALLENGES
Strengths
• Proximity to live/work/play • Best in class amenity space • Large floor plates • Activated rooftop spaces • Developer Pedigree • Proximity to Brightline • New construction
Challenges
• Off corner access • Future development • Pre-lease requirements • Confidence in market project will be built • Travel time to I-95
Strengths & Challenges
We will engage with Colliers professionals across service lines and geographies, leveraging skill sets and relationships to drive exceptional results for Compson Financial Center at Aletto Square and employ the following strategies:
National Marketing Campaign: leveraging our local, regional, and national talented marketing, communications and design professionals across Colliers. National Market Intelligence: partnering with our local and national Research professionals that dedicate enormous energy and time, cultivating data and sourcing tenants from national databases to maximize our leasing strategy. Engaging our Global Occupier Services Platform and Agency team: Extends across six continents and more than 66 countries. Agressive Outreach: Decision makers at South Florida's Top 200 public and private companies, as well as the fastest growing users in the market, with a focus on financial services, legal, insurance and corporate headquarters.
LEVERAGE & Strategy
3
4
Marketing
Tech
Create the Buzz Custom property logo, complimentary colors and imagery, building flyers Cover the Market Websites, social media marketing, e-blasts Target the Right Users Crexi, ad and e-blast performance, website statistics and SEO Showcase the Experience 3D renderings, virtual tours, and videos
Targeted Industries
Accounting
Life Science
Architecture
Healthcare
Consulting
Advertising & Marketing
Wealth Advisors
Venture Capital
Law Firms
Property marketing has changed and we’re leading the charge. We develop bespoke marketing strategies to maximize interest and set your property apart from its competitive set.
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In the midst of a booming Downtown Boca Raton
home
AMENITIES
AVAILABILITIES
location
Capabilities
• Signage • Social media marketing • Tour swag/gifts • Leasing boards • Digital advertising • Direct marketing • Events
• Email campaigns • Custom website • Property flyer • Property brochure • Video & Photography • Virtual tours • Renderings & floorplans
A Cohesive Story
• Signage • Social media campaign • Tour swag/gifts • Leasing boards • Digital advertising • Direct marketing • Events
ALETTO SQUARE
61-90+ Days
31-60 Days
0-30 Days
Immediate
• Create custom site tour experiences, VR room tours, video outreach materials and ads for “whale tenants” • Tenant marketing • Broker marketing • Monthly team strategy review/update
• Colliers website • Tenant marketing (Canvassing program, direct mail, face-to-face meetings • Broker marketing (specific broker lunches, ongoing prospecting, email/direct mail campaign)
• Install leasing signage • Formal announcement process (letters, eblasts, press release, ads) • Meet with City of Boca Raton, Boca Raton County Economic Development, and Business Development Board • Finalize proposal template • Design custom print and digital collateral (flyers, floor plans, website, marketing schedule, VR tour, photos and video) • Social media campaign • Cold calling • Develop full floor & half floor concept test fits
• Kick-off meeting with Compson • Execute listing agreement • Finalize marketing & budget • Media/PR- Press releases to media-Community relations
Marketing Timeline
Proposed Economics
$3.15-$3.35 FSG
10 years $65 - $75 PSF 6-12 months 3.0% $100-$125 PSF
Lease Term Ask Base Rent Free Rent Escalations T.I. Allowance
Fee Schedule
6% of gross rent for initial term of the lease - Tenant rep broker: 4% of Gross Rent for initial term of lease - Colliers: 2% of Gross Rent for initial term of lease 4% of gross rent for initial term of the lease - Renewals with no tenant representation: 3% of gross rent for initial term of lease - Commissions on new leases will be paid 50% at lease execution and 50% at the earlier of rent commencement or occupancy
Fees
New Leases with Tenant Represented by Brokers
New Leases Directly with Tenant
Thank you
Revisit Presentation
Contact Team
Scott Brenner Executive Vice President scott.brenner@colliers.com Mobile: +1 954 304 3855 Gary Gottlieb Executive Vice President gary.gottlieb@colliers.com Mobile: +1 561 889 5707 Derek Baker Senior Vice President derek.baker@colliers.com Mobile: +1 954 501 1010 Marc Fechter Vice President Marc.Fechter@colliers.com Mobile: +1 443 983 5042
Leasing Contacts
