West Palm Beach, Fla. (PRWEB) October 21, 2009
NAI/Merin Hunter Codman (http://www.mhcreal.com), the largest commercial real estate brokerage firm in Palm Beach County, announced today that it served as advisor to G4S Wackenhut ("Wackenhut") in negotiating a transaction for a build-to-suit office building in Jupiter, Florida which will serve as G4S Wackenhut's new North American headquarters. G4S Wackenhut, America's largest provider of security solutions, will lease back the 63,000 square-foot high-tech building, which will be located at the gateway to the live/work Abacoa Town Center, home to restaurants, retail, the Florida Marlins and St. Louis Cardinals spring training baseball stadium, Florida Atlantic University, residential communities and more. The deal culminated a two-year search by NAI/Merin Hunter Codman for the optimal headquarters transaction. G4S Wackenhut's presence in the new building, which will be completed by February 2011, is expected to help energize the local economy and serve as a catalyst for attracting other businesses to the area.
"Abacoa was the right site at the right time for Wackenhut to strike an optimal deal," said Bob A. Schneiderman, a principal with NAI/Merin Hunter Codman who advised on the transaction for G4S Wackenhut and exclusively oversees all leasing for the firm's U.S. locations, which numbers in excess of 100. "It's a win-win. G4S Wackenhut will have new state-of-the-art headquarters where they can showcase their world leadership in security technology, and Abacoa Town Center lands a prestigious client that will likely help draw additional top tenants to the area."
The Wackenhut Corporation is the leading provider of quality, security solutions in the U.S. With over 40,000 employees, the firm delivers security and related services to government complexes, healthcare, education and financial institutions, utilities, chemical/petro-chemical facilities and residential gated communities, among others. The firm is a subsidiary of Group 4 Securicor plc (http://www.g4s.com), which operates in 110+ countries.
The new G4S Wackenhut headquarters will be by the corner of Parkside Drive and University Boulevard in Abacoa. The Building will be adjacent to an existing parking garage that will be able to accommodate all of Wackenhut's 200+ area employees with covered parking. A new Courtyard by Marriott hotel is also being developed on University Boulevard and is expected to host many Wackenhut clients and out-of-area employees. Roger Dean Stadium, the spring training baseball stadium, is also just a few hundred yards away on the same street.
Rendina Companies will develop the G4S Wackenhut headquarters, which will feature green specifications aimed at energy efficiency and a low carbon footprint. The facility, when complete, will house G4S Wackenhut's sales and technology centers, the G4S North American Training Institute and business units that focus on international accounts and regulated security. G4S Wackenhut will be relocating from its current headquarters location in Palm Beach Gardens, Florida, by I-95.
Said Drew Levine, President of G4S Wackenhut North America, "There were a lot of moving parts in this transaction, but NAI/Merin Hunter Codman did a highly efficient and professional job of aligning all interests in order to make this deal a reality. Some professionals see the current times as challenging for real estate deals, but Bob A. Schneiderman helped us realize that there are also great opportunities right now."
Mr. Schneiderman represents G4S Wackenhut on all expansion, relocations and lease renewals for its U.S. locations. Of the Abacoa property he adds, "This will be an exciting change for employees who will soon be able to enjoy the amenities of a pedestrian-friendly town center environment." Schneiderman also points out that employees will have a range of housing options in the immediate area from apartments for sale for just over $75,000, up to million-dollar luxury homes available. There is also an abundance of A-rated schools in the vicinity.
The Business Development Board of Palm Beach County provided strong support for G4S Wackenhut's new location, helping to accelerate the necessary approvals so that the security firm could meet its target move-in date of February 2011.
NAI/Merin Hunter Codman, http://www.mhcreal.com, is the largest commercial real estate brokerage firm in Palm Beach County, Florida with over two decades' experience advising on strategic acquisitions, dispositions, tenant representation, leasing and comprehensive property management. The firm advises on all commercial property sectors from office and industrial to retail, multifamily and land. NAI/Merin Hunter Codman has among its client base some of the nation's most prestigious institutional and private investors and through the NAI global network, can facilitate property transactions around the nation and the world, serving as a single point of contact for counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach with regional offices in Boca Raton, Palm Beach and Palm Beach Gardens.
G4S Wackenhut is the leading provider of security and security-related solutions in the U.S and is part of the world's leading security solutions group. With operations across the country to around the world, G4S Wackenhut is a single source global provider of integrated security solutions. G4S Wackenhut is at the forefront of developing proven technologies that are transforming the future of the security industry. G4S Wackenhut is the employer of choice to more than 40,000 men and women, many of whom have proudly served in the military or have had law enforcement careers.