Core Construction Services of Florida has signed a sublease for a 20,000-square-foot office in Downtown Fort Lauderdale, taking over space previously occupied by Alms Health.
Located at 1 East Broward Boulevard, the sublease has 46 months remaining, according to Platinum Properties. Brokers Steven Evans and Brian Peer of Platinum Properties represented Alms Health in the transaction.
Listed at an annual rate of $24 per square foot, the total lease value is approximately $1.8 million, per a Platinum Properties representative.
Core Construction plans to open its new office on April 1 and intends to remain in the space beyond the sublease term.
Colliers’ Alfie Hamilton represented Core Construction in the deal, while Jeff Holding and Trent Slattery of Cushman & Wakefield represented Alms Health. Alms Health had occupied the office for nearly a decade.
Originally built in 1985, the 354,759-square-foot office tower was purchased by Pacific Coast Capital Partners (PCCP) in 2018 for $108.5 million, according to property records. Since 2023, the Los Angeles-based owner has invested at least $2.7 million in renovations to the 19-story building.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-03-25 14:26:122025-03-25 14:26:12Construction Company Inks Sublease Deal For 20,000 SF In Downtown Fort Lauderdale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Peninsula Corporate Center, a three-story, 48,829-square-foot office building in Boca Raton.
The building sold for $15.3 million.
“The property is 100% occupied by 54 tenants representing a variety of industries,” said Douglas Mandel, IPA executive managing director. “Short lease terms and below-market average rents give the buyer an opportunity to significantly increase revenue.”
Mandel and Marcus & Millichap’s Zach Levine and Joshua Gilbert represented the seller, BREF 950, LLC, an entity affiliated with Malcolm Butters, and procured the buyer, an affiliate of Bark Management, a Boca Raton-based real estate investment company.
Located between Boca Raton and Delray Beach, the building is visible from Congress Avenue, which sees over 30,000 vehicles per day and provides access to Interstate 95. The Florida Turnpike is nearby and within three miles, the average annual household income is over $106,000.
Built in 2006, Peninsula Corporate Center offers a unique array of features, including private restrooms and mini kitchens in each of the 54 suites. The building also provides hurricane impact glass, two elevators, a back-up generator, lush courtyard, and an atrium fountain.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-03-16 17:21:282025-03-16 17:21:28IPA Closes Palm Beach County Office Building Sale
Blanca Commercial Real Estate, in collaboration with Hines, the global real estate investment manager, and Urban Street Development, announced that construction is underway on T3 FAT Village, an innovative office component within the larger 5.5-acre FAT Village development currently under construction at 501 Andrews Avenue in Downtown Fort Lauderdale.
With an anticipated delivery in November 2026, T3 FAT Village is the only new office project of its kind currently rising in the Fort Lauderdale market. The office portion of the master plan marks a significant milestone as the first mass timber office building in the region and sets new standards for sustainability and innovation in South Florida’s commercial real estate landscape.
“With its cutting-edge timber design and unparalleled sustainability, T3 FAT Village is set to become the heartbeat of Fort Lauderdale’s office scene, attracting visionary companies eager to redefine their workspaces,” said Tere Blanca, Founder, Chairman and CEO of Blanca Commercial Real Estate. “It is an honor to play a role in delivering such an innovative project to our community.”
As the only new office building in Fort Lauderdale, T3 FAT Village stands out with its innovative mass timber construction, offering tenants a unique blend of sustainability and modern design that is unmatched in the market. The project is the latest addition to Hines’ acclaimed T3 (Timber, Transit, Technology) portfolio, delivering unparalleled access to transit, cutting-edge design, and a focus on sustainability. Catering to modern businesses seeking collaborative and efficient workspaces, T3 FAT Village underscores Fort Lauderdale’s commitment to progressive development and increased involvement in reshaping the office market in South Florida.
The broader FAT Village development, which broke ground in March 2024, spans 5.6 acres across the vibrant Flagler Village neighborhood. This integrated, mixed-use creative office, retail, and residential urban development celebrates the history and artistic spirit of the area. This dynamic new district will add to Fort Lauderdale’s live-work-play urban environment, introducing curated food and beverage options, entertainment, and art galleries alongside the workplace component.
Conveniently located within walking distance of Fort Lauderdale’s Brightline station, FAT Village provides seamless connections to Miami, Aventura, Boca Raton, West Palm Beach, and Orlando. Its proximity to cultural attractions, the Las Olas corridor, major highways, Fort Lauderdale-Hollywood International Airport, and Port Everglades add to its appeal as a hub for urban connectivity.
“As the first mass timber office building in the region, T3 FAT Village is not just changing the skyline, it is redefining how we think about workspace design, sustainability, and urban living in Fort Lauderdale,” said Christina Jolley, Senior Vice President & Broward Market Leader at Blanca Commercial Real Estate. “FAT Village combines sustainability, wellness, and accessibility, and is set to become the new center of gravity for Fort Lauderdale,” she added.
The first phase of the development will feature 180,000 square feet of creative office space in the East Building, along with 600 multifamily residential units spanning over 400,000 square feet. Additionally, experiential retail spaces will anchor the base of every building, encompassing approximately 80,000 square feet, with the total project size reaching over 800,000 square feet.
“T3 FAT Village is more than a building, it is a bold statement about where Fort Lauderdale’s future is headed,” said Alan Kennedy, Managing Director at Hines. “By combining cutting-edge sustainability with innovative design, we are creating a workspace that will set a new standard for the area. As Fort Lauderdale continues to grow dynamically, T3 FAT Village will stand as a benchmark for the next generation of businesses seeking to thrive in a modern, connected, and environmentally conscious landscape,” he added.
The office component of T3 features a heavy timber design that avoids over a thousand metric tons of carbon dioxide emissions – the equivalent to taking 996 cars off the road – while also supporting sustainable forestry practices by using young trees instead of old-growth timber. Other features include touchless technologies for enhanced hygiene, LEED Gold Certification, and WiredScore Certification, ensuring a best-in-class technology experience. From panoramic views and private outdoor balconies to a state-of-the-art fitness center and social workspaces, T3 FAT Village delivers the ultimate modern office experience designed for both productivity and wellness. Set to deliver in November 2026, T3 FAT Village is poised to become the epicenter of innovation and sustainability in Fort Lauderdale’s growing office scene.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-03-09 20:13:202025-03-09 20:13:20Hines’ T3 FAT Village Goes Vertical
Ari Pearl’s PPG Development has submitted plans for a 25-story office tower in Hallandale Beach, positioned opposite its Shell Bay development. Shell Bay features an upscale country club with a golf course, luxury residences, a hotel, and premium condos still being built. PPG Development intends to relocate its headquarters to this new tower from its current spot within Shell Bay.
Pearl describes the project as a unique Class A office building, unmatched in South Florida for its extensive amenities. Located at 1800 E. Hallandale Beach Blvd. on a 14-acre plot, the tower will offer 235,664 square feet of office space, 10,862 square feet of retail, and 885 parking spaces. Its indoor perks will span 18,851 square feet and include a pool, spa, cold plunge, gym, sauna, steam room, massage area, sports lounge, lockers, collaborative workspaces, and a playroom for kids. Outside, tenants can enjoy padel ball, pickleball, a jogging path, and a lounge area.
This mix of residential-style features sets it apart from most South Florida office towers, which typically lack such offerings unless paired with condos or hotels. Pearl notes that companies expanding in the region increasingly seek top-tier offices with extras that go beyond standard Class A designs, catering to a lifestyle where convenience is key.
Designed by Miami’s Kobi Karp Architecture, the tower’s floor sizes will range from 19,120 to 20,125 square feet. Pearl has enlisted Cushman & Wakefield to promote the office space, with marketing set to begin within 30 to 60 days, aiming for a groundbreaking in six months. This would mark Broward County’s only significant office project outside downtown Fort Lauderdale currently underway.
Pearl praises the site’s prime location, nestled between two major airports, near Aventura’s Brightline station, off I-95, and close to hotspots like Gulfstream Park, Aventura Mall, and Bal Harbour Shops. He points to the growing number of affluent residents in nearby areas like Sunny Isles Beach and Bal Harbour, where Class A office space is scarce. With global firms—think private equity, banks, and tech—flocking to South Florida, Pearl is confident the right tenants will fill the building, though he’s keeping rental rates under wraps for now.
The project, valued at $140 million per the city’s development list, awaits a city hearing. PPG Development, via PPG 1800 HBB Owner LLC, bought the land for $13.95 million in 2023.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-03-02 11:34:082025-03-02 11:34:08PPG Development Hopes To Bring Class A Office Building To Broward
A new office building featuring small suites is being planned along Interstate 95 in Hollywood.
BSD 23 Development LLC, led by Avihu Nahari from Aventura, has submitted an application for a 41,000-square-foot property at 2910 Polk Street. The proposal was scheduled to be reviewed by the city’s Technical Advisory Committee on February 18. The developer purchased the empty lot for $2.5 million in 2023.
The proposed structure would span 61,492 square feet across four floors and include a separate five-story parking garage with 220 spaces. The office levels would consist of individual suites, varying from 232 to 1,500 square feet, equipped with shared restrooms on each floor. A cafeteria would also be available on the ground level.
This development targets South Florida’s many smaller businesses, which often seek compact office spaces. The project’s design comes from Itamar Goldenholz of Goldenholz & Associates in Sunrise.
Situated on the east side of I-95, just north of the Hollywood Boulevard exit, the site is in an area with few nearby office buildings.
A recent Colliers report for the fourth quarter shows Hollywood’s office market with an 8% vacancy rate and an average rental price of $36.39 per square foot. The market saw a positive uptake of 9,713 square feet in the same period, with no ongoing office construction in Hollywood. Notably, the only significant office development in Broward County is currently happening in downtown Fort Lauderdale.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-02-23 16:33:282025-02-23 16:33:28New Office Building Planned In Hollywood
On Friday, Lone Star Funds announced that an affiliate of Lone Star Real Estate Fund VII, L.P., along with an affiliate of Highline Real Estate Capital LLC and Square2 Capital LLC, has acquired 401 East Las Olas Boulevard, marking the most significant office acquisition in Broward County in the past decade.
CBRE’s Institutional Office Group, led by Vice Chairman Christian Lee and Vice President Sean Kelly, represented the seller, a global investment manager. CBRE’s Debt & Structured Finance Group, led by Vice Chairmen Tom Traynor and Tom Rugg, Senior Vice President Amy Julian, and First Vice President Andrew Chilgren, represented the buyer in sourcing acquisition financing. The CBRE team also included Director Adam Spengler, Senior Associate Tom Rappa, Associate Henry Fenmore, and Financial Analyst Matthew Lee.
“Office properties in Fort Lauderdale’s CBD have thrived in the 2020’s, with strong absorption, sharp rent growth and declining vacancies. This is particularly true for top tier assets, which have outperformed because of an escalating flight to quality,” said Lee.
“With soaring construction costs and a dearth of remaining development sites in the Las Olas corridor, future supply will be tightly constrained and will result in continued strong rent growth for the area,” added Kelly.
The transaction closed February 13. While the terms were not disclosed, sources close to the deal reported the sale price to be in the neighborhood of $220 million, equating to more than $535 per square foot.
The 23-story, 410,561-square-foot Class AA office and retail tower—also known as Bank of America Plaza at Las Olas City Centre—sits on a full city block in the heart of Fort Lauderdale’s Las Olas Financial District. The property is home to a premier tenant roster, including Bank of America, Greenberg Traurig, Boies Schiller Flexner, Motorola Solutions, and UBS.
“We see a unique opportunity to invest in high-quality office assets that are among the best in their competitive set,” said Jérôme Foulon, Global Head of Commercial Real Estate at Lone Star. “The South Florida office market has strong underlying fundamentals, driven in part by in-migration trends and return-to-work mandates. At the same time, since new developments have all but stopped in recent years, some markets are experiencing shortages of office space in quality assets.”
“This acquisition represents our confidence in high-quality, well-located office assets that continue to demonstrate strong leasing fundamentals,” said David Moret, President of Highline Real Estate Capital. “401 has maintained an average occupancy of 94 percent since its inception and is positioned to continue to benefit from the evolving office market.”
Jay Caplin, Principal at Square2 Capital, added “with our previous repositioning success at 501 & 515 Las Olas Boulevard, we are confident we can amplify 401’s position as one of the most sought-after office towers in the state. Planned improvements will build upon 401’s status as the most amenitized office property in downtown Fort Lauderdale, featuring six on-site restaurants, a fitness center, and full-service banking.” Square2 Capital will manage the property for the new owner under the direction of Principal Mike Manno.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2025-02-16 18:17:152025-02-16 18:17:15Class AA Office Tower Trades Hands In Broward’s Second $200M+ Transaction In Two Days
Construction Company Inks Sublease Deal For 20,000 SF In Downtown Fort Lauderdale
/in Done Deals, News/by SFOBA STAFFCore Construction Services of Florida has signed a sublease for a 20,000-square-foot office in Downtown Fort Lauderdale, taking over space previously occupied by Alms Health.
Located at 1 East Broward Boulevard, the sublease has 46 months remaining, according to Platinum Properties. Brokers Steven Evans and Brian Peer of Platinum Properties represented Alms Health in the transaction.
Listed at an annual rate of $24 per square foot, the total lease value is approximately $1.8 million, per a Platinum Properties representative.
Core Construction plans to open its new office on April 1 and intends to remain in the space beyond the sublease term.
Colliers’ Alfie Hamilton represented Core Construction in the deal, while Jeff Holding and Trent Slattery of Cushman & Wakefield represented Alms Health. Alms Health had occupied the office for nearly a decade.
Originally built in 1985, the 354,759-square-foot office tower was purchased by Pacific Coast Capital Partners (PCCP) in 2018 for $108.5 million, according to property records. Since 2023, the Los Angeles-based owner has invested at least $2.7 million in renovations to the 19-story building.
Source: Commercial Observer
IPA Closes Palm Beach County Office Building Sale
/in Done Deals, News/by SFOBA STAFFInstitutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Peninsula Corporate Center, a three-story, 48,829-square-foot office building in Boca Raton.
The building sold for $15.3 million.
Mandel and Marcus & Millichap’s Zach Levine and Joshua Gilbert represented the seller, BREF 950, LLC, an entity affiliated with Malcolm Butters, and procured the buyer, an affiliate of Bark Management, a Boca Raton-based real estate investment company.
Located between Boca Raton and Delray Beach, the building is visible from Congress Avenue, which sees over 30,000 vehicles per day and provides access to Interstate 95. The Florida Turnpike is nearby and within three miles, the average annual household income is over $106,000.
Built in 2006, Peninsula Corporate Center offers a unique array of features, including private restrooms and mini kitchens in each of the 54 suites. The building also provides hurricane impact glass, two elevators, a back-up generator, lush courtyard, and an atrium fountain.
Hines’ T3 FAT Village Goes Vertical
/in News/by SFOBA STAFFBlanca Commercial Real Estate, in collaboration with Hines, the global real estate investment manager, and Urban Street Development, announced that construction is underway on T3 FAT Village, an innovative office component within the larger 5.5-acre FAT Village development currently under construction at 501 Andrews Avenue in Downtown Fort Lauderdale.
With an anticipated delivery in November 2026, T3 FAT Village is the only new office project of its kind currently rising in the Fort Lauderdale market. The office portion of the master plan marks a significant milestone as the first mass timber office building in the region and sets new standards for sustainability and innovation in South Florida’s commercial real estate landscape.
As the only new office building in Fort Lauderdale, T3 FAT Village stands out with its innovative mass timber construction, offering tenants a unique blend of sustainability and modern design that is unmatched in the market. The project is the latest addition to Hines’ acclaimed T3 (Timber, Transit, Technology) portfolio, delivering unparalleled access to transit, cutting-edge design, and a focus on sustainability. Catering to modern businesses seeking collaborative and efficient workspaces, T3 FAT Village underscores Fort Lauderdale’s commitment to progressive development and increased involvement in reshaping the office market in South Florida.
The broader FAT Village development, which broke ground in March 2024, spans 5.6 acres across the vibrant Flagler Village neighborhood. This integrated, mixed-use creative office, retail, and residential urban development celebrates the history and artistic spirit of the area. This dynamic new district will add to Fort Lauderdale’s live-work-play urban environment, introducing curated food and beverage options, entertainment, and art galleries alongside the workplace component.
Conveniently located within walking distance of Fort Lauderdale’s Brightline station, FAT Village provides seamless connections to Miami, Aventura, Boca Raton, West Palm Beach, and Orlando. Its proximity to cultural attractions, the Las Olas corridor, major highways, Fort Lauderdale-Hollywood International Airport, and Port Everglades add to its appeal as a hub for urban connectivity.
The first phase of the development will feature 180,000 square feet of creative office space in the East Building, along with 600 multifamily residential units spanning over 400,000 square feet. Additionally, experiential retail spaces will anchor the base of every building, encompassing approximately 80,000 square feet, with the total project size reaching over 800,000 square feet.
The office component of T3 features a heavy timber design that avoids over a thousand metric tons of carbon dioxide emissions – the equivalent to taking 996 cars off the road – while also supporting sustainable forestry practices by using young trees instead of old-growth timber. Other features include touchless technologies for enhanced hygiene, LEED Gold Certification, and WiredScore Certification, ensuring a best-in-class technology experience. From panoramic views and private outdoor balconies to a state-of-the-art fitness center and social workspaces, T3 FAT Village delivers the ultimate modern office experience designed for both productivity and wellness. Set to deliver in November 2026, T3 FAT Village is poised to become the epicenter of innovation and sustainability in Fort Lauderdale’s growing office scene.
PPG Development Hopes To Bring Class A Office Building To Broward
/in News/by SFOBA STAFFAri Pearl’s PPG Development has submitted plans for a 25-story office tower in Hallandale Beach, positioned opposite its Shell Bay development. Shell Bay features an upscale country club with a golf course, luxury residences, a hotel, and premium condos still being built. PPG Development intends to relocate its headquarters to this new tower from its current spot within Shell Bay.
Pearl describes the project as a unique Class A office building, unmatched in South Florida for its extensive amenities. Located at 1800 E. Hallandale Beach Blvd. on a 14-acre plot, the tower will offer 235,664 square feet of office space, 10,862 square feet of retail, and 885 parking spaces. Its indoor perks will span 18,851 square feet and include a pool, spa, cold plunge, gym, sauna, steam room, massage area, sports lounge, lockers, collaborative workspaces, and a playroom for kids. Outside, tenants can enjoy padel ball, pickleball, a jogging path, and a lounge area.
This mix of residential-style features sets it apart from most South Florida office towers, which typically lack such offerings unless paired with condos or hotels. Pearl notes that companies expanding in the region increasingly seek top-tier offices with extras that go beyond standard Class A designs, catering to a lifestyle where convenience is key.
Designed by Miami’s Kobi Karp Architecture, the tower’s floor sizes will range from 19,120 to 20,125 square feet. Pearl has enlisted Cushman & Wakefield to promote the office space, with marketing set to begin within 30 to 60 days, aiming for a groundbreaking in six months. This would mark Broward County’s only significant office project outside downtown Fort Lauderdale currently underway.
Pearl praises the site’s prime location, nestled between two major airports, near Aventura’s Brightline station, off I-95, and close to hotspots like Gulfstream Park, Aventura Mall, and Bal Harbour Shops. He points to the growing number of affluent residents in nearby areas like Sunny Isles Beach and Bal Harbour, where Class A office space is scarce. With global firms—think private equity, banks, and tech—flocking to South Florida, Pearl is confident the right tenants will fill the building, though he’s keeping rental rates under wraps for now.
The project, valued at $140 million per the city’s development list, awaits a city hearing. PPG Development, via PPG 1800 HBB Owner LLC, bought the land for $13.95 million in 2023.
Source: SFBJ
New Office Building Planned In Hollywood
/in News/by SFOBA STAFFA new office building featuring small suites is being planned along Interstate 95 in Hollywood.
BSD 23 Development LLC, led by Avihu Nahari from Aventura, has submitted an application for a 41,000-square-foot property at 2910 Polk Street. The proposal was scheduled to be reviewed by the city’s Technical Advisory Committee on February 18. The developer purchased the empty lot for $2.5 million in 2023.
The proposed structure would span 61,492 square feet across four floors and include a separate five-story parking garage with 220 spaces. The office levels would consist of individual suites, varying from 232 to 1,500 square feet, equipped with shared restrooms on each floor. A cafeteria would also be available on the ground level.
This development targets South Florida’s many smaller businesses, which often seek compact office spaces. The project’s design comes from Itamar Goldenholz of Goldenholz & Associates in Sunrise.
Situated on the east side of I-95, just north of the Hollywood Boulevard exit, the site is in an area with few nearby office buildings.
A recent Colliers report for the fourth quarter shows Hollywood’s office market with an 8% vacancy rate and an average rental price of $36.39 per square foot. The market saw a positive uptake of 9,713 square feet in the same period, with no ongoing office construction in Hollywood. Notably, the only significant office development in Broward County is currently happening in downtown Fort Lauderdale.
Class AA Office Tower Trades Hands In Broward’s Second $200M+ Transaction In Two Days
/in Done Deals, News/by SFOBA STAFFOn Thursday, CRE-sources reported the $208 million trade of 350/450 East Las Olas, the largest transaction in a decade… until Friday.
On Friday, Lone Star Funds announced that an affiliate of Lone Star Real Estate Fund VII, L.P., along with an affiliate of Highline Real Estate Capital LLC and Square2 Capital LLC, has acquired 401 East Las Olas Boulevard, marking the most significant office acquisition in Broward County in the past decade.
CBRE’s Institutional Office Group, led by Vice Chairman Christian Lee and Vice President Sean Kelly, represented the seller, a global investment manager. CBRE’s Debt & Structured Finance Group, led by Vice Chairmen Tom Traynor and Tom Rugg, Senior Vice President Amy Julian, and First Vice President Andrew Chilgren, represented the buyer in sourcing acquisition financing. The CBRE team also included Director Adam Spengler, Senior Associate Tom Rappa, Associate Henry Fenmore, and Financial Analyst Matthew Lee.
The transaction closed February 13. While the terms were not disclosed, sources close to the deal reported the sale price to be in the neighborhood of $220 million, equating to more than $535 per square foot.
The 23-story, 410,561-square-foot Class AA office and retail tower—also known as Bank of America Plaza at Las Olas City Centre—sits on a full city block in the heart of Fort Lauderdale’s Las Olas Financial District. The property is home to a premier tenant roster, including Bank of America, Greenberg Traurig, Boies Schiller Flexner, Motorola Solutions, and UBS.