Florida’s commercial real estate landscape is seeing a wave of leadership moves alongside an office investment trade in Boca Raton. Across the state, firms are adding senior talent to drive multifamily development and institutional relationships, while an income-producing office asset has changed hands at a mid-7% cap rate.
Portman has expanded its residential platform with the addition of Ian Slavin as Vice President of Residential Development. Based in Boca Raton, Slavin is tasked with overseeing all phases of multifamily development, from site sourcing and acquisitions through entitlements, financing, design, and construction. His mandate also includes identifying new investment opportunities to grow Portman’s residential portfolio in Florida and other key growth markets across the state.
In Tampa Bay, Gilbane Development has appointed Mark Lawson as Development Director for Business Development, based out of the firm’s regional office. Lawson joins Gilbane after an extensive career working within and alongside universities, bringing a background focused on higher education. In his new role, he is responsible for sourcing new partnerships with colleges and universities and managing relationships with key institutional stakeholders and officials.
On the investment sales front, real estate investor Allen Chelminsky has sold the 1095 Broken Sound Parkway office building in Boca Raton for $12,700,000. The 60,050-square-foot office property was 82% occupied at the time of sale and traded at a 7.4% capitalization rate. John DeMarco of The DeMarco Real Estate Group represented both the buyer and the seller in the transaction, underscoring continued brokerage engagement around stabilized suburban office assets in the market. The buyer was not identified in the announcement.
Separately, GID Residential Partners is extending its national residential development platform into the Florida market. The firm’s Florida initiative will be led by industry veteran Omar Del Rio, who joins as Senior Managing Director. Del Rio brings more than 30 years of real estate development experience in the Florida market, with prior leadership roles at Related Companies, Fairfield Residential, Gables Residential, Quaterra, and most recently Eastwind Development. His appointment signals an organized push by GID Residential Partners to build out a dedicated development presence in the state.
Taken together, the personnel moves highlight ongoing competition for experienced development and institutional relationship talent, while the Boca Raton office trade provides a reference point on pricing, occupancy, and cap rates for stabilized office product in Florida’s suburban markets.
