Reichel Realty Announces 73,000 SF in Retail Leases / Renewals Valued at $2.95 Million

Aug. 3, 2010 - PRLog -- PALM BEACH GARDENS, Fla.— Reichel Realty announced the firm completed commercial lease transactions totaling 73,000 square feet and valued at $2.95 million during the past 60 days at several South Florida retail centers.  Among the major transactions:

*  Washington Mutual Bank leased 6,564 square feet at One Turnberry Place, 19495 Biscayne Blvd. in Aventura, Florida in a five-year lease valued at $1,854,000. The Bank was exclusively represented by Reichel Realty Vice President Dan Casey. Landlord is Turnberry Associates.

*  Amspec, represented by Reichel Realty Sr. Associate Ken Duke, leased 4,181square feet at New Town Commerce Park, located at 4370 Oakes Road in Davie, Florida for five years; a transaction valued at $250,000.  The landlord is Adler Realty Services.

*  In Palm Beach County, Reichel Realty Vice President Dan Casey leased 6,385 square feet to three tenants at Sandalfoot Plaza, 23100 Sandalfoot Plaza Drive (U.S. 441 & Marina Drive)in Boca Raton.  The tenants are Chen Brothers, Med Point Pharmacy and nancy Cassalia.  The leases are valued at $425,000.
Reichel Realty exclusively represented the Landlord, Sandalfoot Plaza Boca LLC.

*  Bill Reichel, president, renewed Lewters Boxing in a lease for 4,500 square feet at 2535 Military Trail, West Palm Beach in a three-year lease valued at $190,000. Reichel also leased 3,000 square feet to Mecox Gardens at Commerce Center, located at 1253 Old Okeechobee, West Palm Beach. The one-year lease is valued at $40,000. Reichel Realty represented the landlord, Island Shops Ltd.

*  Hear USA renewed its lease for 2,000 square feet at Nassau Square in Lake Worth.  Reichel Realty represented the landlord, Four Florida Shopping Centers.  Reichel Senor Associate Jim Tornabene handled the transaction. The five-year lease is valued at $200,000. Tornabene also renewed 9 tenant leases, totaling 6,500 square feet, at 11911 US Highway One in Palm Beach Gardens. Bill Reichel is receive for the 11911 building

   “Small and mid-size tenants are keeping the retail commercial market active, taking the opportunity to lock in favorable rates and terms,” said Reichel. “Those landlords who are responding to the market by being aggressive and flexible are attracting and retaining solid tenants. With these latest transactions, Reichel Realty has handled leases approaching a quarter million square feet and a value in excess of $10 million since March, 2010.”  For more information, visit www.reichelrealty.com.