Development Boom Continues In Flagler Village, Including More Than 280,000 SF Of Office Space

Over the span of 15 years, Flagler Village has been transformed into one of the most walkable neighborhoods of Fort Lauderdale.

According to a recent report from the DDA, 3,500 residential units have been built in Flagler Village in the past decade. Its population increased by 107% since 2010 and has nearly 7,000 residents. In addition, the median household income is about $140,000 a year.

More development is coming, including three more projects that include office space:

  • 901 North is a massive mixed-use project with about 800 apartments, more than 104,000 square feet of office, a hotel, and at least 98,000 square feet of retail.
  • T3 FAT Village is a 5.6 acre mixed-use project that will include hundreds of apartments, at least 70,000 square feet for retail, and about 180,000 square feet for Class A office.
  • Flagler Sixth is a mixed-use project being developed in phases by Barron Commercial Development and Hudson Capital Group. The first phase, consisting of a four-story retail and office building.

 

Source:  SFBJ

CBRE, Berger Arrange Two New Fort Lauderdale Office Leases Totaling 16,000 SF

CBRE has arranged two new office leases at Cypress Corporate Center in Fort Lauderdale totaling over 16,000 square feet.

Morgan Fidelity Associates, a national insurance brokerage company, signed a lease for 9,906 sq. ft., and Control Point Associates, a national land surveying and consulting firm, signed a lease for 6,166 sq. ft. They will be occupying spaces on the fifth floor in the first half of 2024. Both leases are relocations for the respective companies.

CBRE’s Gordon MessingerJoe Freitas, and Max Pawk represented Cypress Corporate Center ownership, HS Capital, in each of the transactions. Both Morgan Fidelity Associates and Control Point Associates were represented by Michael Feuerman and Daniel Silver with Berger Commercial Realty.

Cypress Corporate Center is a six-story office building located at 1901 W. Cypress Creek Road. HS Capital recently acquired the building and has completed renovations, which include updates to the lobby, restrooms, common areas, building exterior, and landscaping. Additionally, there is a new tenant lounge, conferencing facility, and a micro-market open for breakfast and lunch options.

“HS Capital’s enhancements to Cypress Corporate Center have made it one of the most desirable buildings in the submarket with high visibility, the best parking ratio in submarket, and a deep talent pool,” said CBRE Executive Vice President Gordon Messinger.

According to a recent CBRE report, Class A office space in Fort Lauderdale’s Cypress Creek submarket has a direct vacancy rate of 14.1%, the second lowest rate in the region.

 

Franklin Templeton Opens 10,000 SF Office At 360 Rosemary

A wholly-owned subsidiary of Franklin Templeton recently moved into a spacious office in downtown West Palm Beach.

Fiduciary Trust International opened a 10,439-square-foot space on the 15th floor of 360 Rosemary, a 20-story Class A office tower at 360 S. Rosemary Ave. that has attracted several well-known financial firms and companies such as Goldman Sachs, Elliott Management, Point72 Asset Management, and NewDay USA.

Fiduciary Trust International is a global wealth management firm that has $94 billion in assets under management and administration as of June 30, the company stated. Fiduciary Trust was acquired by Franklin Templeton Investments’ parent company, Franklin Resources, for about $825 million in April 2001. As of Sept. 30 of this year, Franklin Templeton has $1.4 trillion in assets under management.

 

Source:  SFBJ

City Approves Huge Mixed-Use Project Surrounding Boca Raton Office Campus

After receiving preliminary clearance from city authorities, a sizable mixed-use project may be built around the Boca Raton Innovation Campus.

Situated on 123 acres at 5000 T-Rex Ave, BRIC is the largest office campus owned by a single owner in South Florida, spanning 1.7 million square feet. Large parking lots at the facility, which is well-known for being the location where IBM engineers invented the personal computer, might be developed.

After more than five years of work by CP Group, which co-owns the site alongside Rialto, DRA Advisors, and Las Olas Capital Advisors, the City Council approved the new zoning for BRIC on October 11.

According to Angelo Bianco, managing partner of CG Group, the permission permits 1,243 residential units, 125,000 square feet of retail space, a 140-room hotel, a 55,000-square-foot entertainment arena with seating for 5,000 people, and 85,000 square feet of medical offices. A grocery shop spanning 40,000 square feet would be part of the retail area.

 

Source:  SFBJ

 

Sunbeam Properties’ Mixed-Use Project In Miramar To Include 100,000-SF Of Office Space

Sunbeam Properties has started retail leasing efforts in a mixed-use project in Miramar that will also include apartments, hotels and offices.

The developer has revealed plans for the Park Miramar on the 125.65-acre site at the northeast corner of Miramar Parkway and Red Road, near Florida’s Turnpike. The project is planned to include to 325,000 square feet of retail and restaurants, which would include a grocery store, as well as 2,825 residential units, about 100,000 square feet of office space, 185 hotel rooms and 7,500 parking spaces.

The project would also have over 40 acres of open space, including 24.4 acres of nature trails, a 2.1-mile perimeter loop and a lake.

 

Source:  SFBJ

Miramar Park of Commerce

Walgreens Expands Office Space At Miramar Park of Commerce

Walgreens has expanded its space in the Miramar Park of Commerce to include a training facility.

Walgreens added another 11,314 square feet to its office at 3130 Executive Way. With that new lease, Walgreens will occupy a total of 63,177 square feet in the park.

Iker Belauste, formerly of JLL and now affiliated with CBRE, represented Walgreens in the lease negotiations

 

Source:  SFBJ