Levy Realty Advisors Tapped To Lease Cypress Creek Office Building

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Levy Realty Advisors has been named exclusive leasing agent for the renamed Prisma at Cypress Creek.

Ken Silberling, Senior Vice President at Levy, will be marketing the property on behalf of the owners.

The 38,707-square-foot, three-story office building was purchased in March by South Florida Innovative Office, LLC, a division of Maynada Real Estate Advisors.   It is located at 1000 NW 65th Street just off Cypress Creek and Powerline Roads in Fort Lauderdale’s Uptown market. The property features floor to ceiling glass and individually controlled air-conditioning.

Prisma at Cypress Creek-1000 NW 65th Street

“My clients, Maynada Real Estate Advisors, are excited to enter the South Florida market,” commented Silberling. “Although they closed the deal at the onset of the coronavirus lockdown in March, they are committed to growing their presence in the South Florida market and are highly optimistic about the market and the property in the long term. Renovation has commenced on the common areas to create a contemporary boutique office environment.”

“This is kind of a homecoming for me,” continued Silberling, who got his start in commercial leasing and investment in the Cypress Creek market. “Cypress Creek has always benefitted from its proximity to I-95 and the ability to service clients and draw employees from Miami-Dade, Broward and Palm Beach Counties. I also believe it provides the best office space value in South Florida. While I love what’s happening downtown, you can lease quality space uptown for half the price and parking is free which can save another $3 or more per square foot  – and you don’t have to deal with Broward Boulevard at rush hour.”

Availabilities range from 1,650 to 3,850 square feet and the new owners are taking an aggressive and proactive approach to renovating and leasing the building. 3D Virtual tours, floorplans and leasing information can be found at https://prismacypress.com/.

 

Engineering Firm Renews Corporate Headquarter Lease

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Reese Stigliano, president of Stigliano Commercial Real Estate, represented Miller Legg & Associates in the 10,380-square-foot lease renewal and expansion of their corporate headquarters at 5747 North Andrews Way in Fort Lauderdale.

Miller Legg is a 55-year-old, award-winning engineering and environmental consulting company that specializes in landscape architecture, surveying, utility planning and environmental engineering.

According to Stigliano, “We did an extensive search for alternative locations throughout Broward County. After a comprehensive financial analysis of several viable alternatives, the most economical choice was to renew and expand at their current location in the Cypress Creek submarket of Fort Lauderdale.”

The Cypress Creek submarket, with an inventory of 8.4 million square feet, currently has a 12% vacancy with rents close to 10% below the metro average. The Greater Fort Lauderdale office market of approximate 70 million square feet, has seen a significant escalation of rents due to strong demand as well as increases in tenant improvement costs and real estate taxes. Overall office rate vacancy in Greater Fort Lauderdale stands at 8%.

Reese Stigliano“In light of the coronavirus outbreak, the decision to renegotiate their existing lease was indeed fortuitous,” said Stigliano. “We were able to secure a very economical solution with an expansion option to provide Miller Legg the ability to keep their overhead low with the flexibility to expand when necessary.”

Reese Stigliano is a recognized leader in the South Florida commercial real estate market, with over 35 years of experience. As President, he focuses on land sales, investment sales and office leasing for the firm. Mr. Stigliano’ s talent in bringing complicated commercial transactions to a close has been evident in his successful 35-year brokerage career.

WEBINAR: Finding and Capitalizing on Commercial Opportunities

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SFOBA Members are invited to attend this free webinar – Finding and Capitalizing on Commercial Opportunities in the Next 3-6 Months – on –

Click on the following link for more information and to register: https://www.rcapb.com/events/webinar-finding-and-capitalizing-on-commercial-opportunities

 

employment

Levy Realty Advisors Seeking Property Manager, Leasing Agent

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Levy Realty Advisors, established in 1977 and recognized as the 16th largest Property Management firm in South Florida, is looking for an experienced Property Manager and Leasing Agent to help with a 1.2 million SF small bay warehouses portfolio in Central Broward and Pompano.

This is an incredible career opportunity with unlimited potential and growth to work in a family owned business atmosphere.

Must have a Florida RE license and willing to work long hours but the compensation will be very rewarding.

Please send resume to alan@levyrai.com.

 

 

Cushman & Wakefield To Lease ±61,000-SF Broward County Office Building

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Cushman & Wakefield was named exclusive leasing advisor for 1400 East Newport Center Drive, a ±61,408-square-foot office building in Broward County.

The Cushman & Wakefield brokerage team of John Criddle and Joseph Freitas was selected to lease the building on behalf of Fort Lauderdale, FL-based building owner NRNS Acquisition Newport LLC.

1400 East Newport Center Drive was developed in 1987 on a ±4.5-acre site in Deerfield Beach. The building features ample parking with six spaces per 1,000 rentable square feet, a fully redundant generator and fully wired cubicles available for use. The asset is currently being renovated. Upgrades include refurbished interior common areas, an updated exterior entrance with a new porte-cochère, refined landscaping and new exterior paint.

The building is 67.4% leased with ±20,000 square feet available at rents ranging from $23 to $25 modified gross plus electric and janitorial. Notable tenants include Harte-Hanks and Freedom Mortgage Corp.

1400 East Newport Center Drive is ideally positioned in the Newport Center office park, offering immediate access SW 10th Street and Interstate 95.

“1400 East Newport Center Drive offers tenants the opportunity to occupy renovated space in a central location at rates that compare very favorably to competitive properties in this and neighboring submarkets,” said Criddle

“Many tenants targeting this market have unique requirements and place tremendous value upon ample parking ratios and reliable backup power,” added Freitas. “1400 East Newport Center Drive is an ideal location for these types of operations.”

 

Berger Commercial Realty/CORFAC Brokers Lease To Secure Second Health Insurance Company Fort Lauderdale Location

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USA Medicare Advisors Insurance Agency, LLC will open its second location in Fort Lauderdale thanks to a new lease brokered by Berger Commercial Realty/CORFAC International for landlord ROC III Fairlead Bayview Corporate Center, LLC.

Berger Senior Sales Associate Jonathan Thiel handled the transaction, which will provide 8,300 square feet of office space throughout a six-year lease for the health insurance company in the 412,520-square-foot, 12-story Bayview Corporate Tower at 6451 North Federal Highway.

BayView Corporate Tower

“The extensive amenities and renovations to the building, in addition to the accessible location, and ample and secure parking have proven very attractive to businesses looking to attract top talent,” Thiel said.  “We used thoughtfulness and creativity to make this deal the right fit for our tenant.”