Berger Commercial Realty Negotiates 5-Year Lease Deal At Tides At Bridgeside Square

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Berger Commercial Realty/Corfac International Senior Vice President Steve Hyatt and Sales Associate John Forman represented the landlord, Shula Spirit Investments, LLC in a 5-year, 2,485-square-foot lease deal at Tides At Bridgeside Square, located at 3020 NE 32 Avenue in Fort Lauderdale.

The tenant, 3033 Group, LLC, has leased the offices on behalf of its iconic entities, Shooter’s Restaurant and The Grateful Palate. The space will serve as management offices.

“Based on location and current space needs, this was an ideal situation for both very successful and locally owned restaurant groups,” commented Hyatt.

The Tides At Bridgeside Square is a professional Class A office building located in Central Fort Lauderdale at Oakland Park Boulevard and Florida State Road A1A, minutes from the ocean and intracoastal waterways. The 2001-built property features 24-hour security, impact windows and includes the option to use all of the residential amenities.

Plantation Office Building Fetches $18.5 Million

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Avison Young’s Florida Capital Markets Group completed the $18.5 million sale of Southpointe, a 79,719-square-foot, class A office building at 7901 SW 6th Court in Plantation, one of Broward County’s most highly sought-after suburban office submarkets.

On behalf of the seller, Avison Young Principals David Duckworth; John K. Crotty, CCIM; Michael T. Fay; Greg Martin; and Senior Associate Brian de la Fé; facilitated the disposition to The Green Companies.

Southpointe is a four-story, award-winning office building featuring high-end finishes, impact glass, abundant parking, and an efficient design. The property’s close proximity to Interstate 595, great amenities, and high-end residential neighborhoods provides the essential elements for a successful class A office property.

“The sale of Southpointe at $232 per square foot is a reflection of investor confidence in the western Broward County office market,” said Duckworth. “Location and building quality were important factors in this sale. The Green Companies’ purchase was a great strategic move to increase their footprint in Plantation’s robust office submarket.”

Vacancy in Plantation remains one of the lowest in the Broward office market at 5.57 percent, for class A space, according to research by Avison Young. With year-over-year declines in the vacancy rate, strong positive net absorption, limited new construction, and the third highest rental rates in Fort Lauderdale’s metro, Plantation’s suburban submarket continues to generate strong demand in class A office space.

 

Spirit Airlines Expands HQ At Miramar Park of Commerce By 26,000 SF

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strong>Spirit Airlines has expanded its corporate headquarters by 26,287 square feet at the Miramar Park of Commerce.

Spirit Airlines first established its headquarters at the Park in 1999 with a lease for 56,194 square feet at 2800 Executive Way. With a 14,625 square-foot expansion in 2013 and the latest addition, Spirit now occupies a total of 97,106 square feet at the Park.

“Our expansion at the Park is commensurate with Spirit’s overall growth as a company,” said Chip Sandifer of Spirit Airlines. “Our expanding aircraft fleet requires increased support to accommodate more passengers, both from a customer service and an operational perspective.”

In the last six months, Spirit has added seven new planes to its Fit Fleet®, the country’s newest fleet consisting of the youngest planes.

Spirit Airlines is the eighth largest commercial airline in North America, conducting flights among 67 airports in 15 countries. Fort Lauderdale / Hollywood International Airport is its largest and most active station with 54 destinations accessible via 65 daily flights.

“With this expansion, Spirit has nearly doubled in size since first leasing with us,” said Vice President Maridee Bell of Sunbeam Properties, developer of the Miramar Park of Commerce. “Since relocating its corporate headquarters to Miramar in 1999, the Park has been ideal for the airline due in part to its accessibility and central location in South Florida, which benefits employees based in both Broward and Miami-Dade counties.”

Spirit Airlines employs approximately 1,000 team members at the Miramar Park of Commerce.

“We are growing and adding jobs all the time,” added Derek Dombrowski, spokesperson for Spirit Airlines.

The company anticipates additional growth as it becomes the first ultra-low cost carrier in the Americas to offer Wi-Fi, with plans to install Wi-Fi on all of its planes by summer 2019.

The Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development in the transaction. Spirit Airlines was represented by Rod Loschiavo and David Matthews of JLL.

 

Hair Club Inks 2 Leases Totaling 29,000 SF

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As part of its transformation into the premier total hair solutions company, Hair Club has secured two new leases totaling 28,502 square feet, highlighting the firm’s continued growth and commitment to South Florida.

Colliers International South Florida Executive Vice President Robert Listokin represented Hair Club in the long-term leases with owner Grover Corlew, including a strategic new headquarters relocation in Boca Raton as well as a new lease for salon space in Delray Beach.

Continuing with a Boca Raton address for its North American headquarters, Hair Club will be moving northwest into Palmetto Place at Boca Raton (f/k/a Interstate Plaza), located at 1499 W. Palmetto Park Road, with direct visibility to Palmetto Park Road as well as I-95. The four-story, 84,131-square-foot office building just completed a total interior renovation and will be starting on the exterior of the property shortly. Darcie Lunsford, senior vice president of Butters Realty & Management, represented the landlord in the transaction.

“As Hair Club has modernized and evolved over the years, there was a need for their headquarters location to do the same,” added Listokin, who has represented the firm’s real estate negotiations locally for more than 15 years. “This property satisfies their requirement for a more efficient, prominent and accessible headquarters location and will better support their operations and employee base for years to come.”

The new lease spans 23,130 square feet encompassing the entire third floor and a portion of the first floor, where the firm plans to create a modern and collaborative environment for its more than 120 local corporate staff members, including more than 60 Contact Center agents.

“We are so pleased to have a well-respected global company like Hair Club for Men make Palmetto Place @ Boca Raton its headquarters location,” said Partner Mark Corlew. “Our strategic renewal of this well-situated and carefully designed property has garnered overwhelming interest from the business community.”

“Our new headquarters location was selected to provide the ultimate employee experience,” noted Hair Club President & COO Mike Nassar. “We are dedicated to providing this experience for all of our more than 1,200 staff members across our 120 locations in the US and Canada. As the leading provider of proven hair loss solutions in North America, we proactively plan for the future and look forward to a long and prosperous journey in our new home.”

In addition to the new headquarters address, Listokin represented Hair Club in the negotiation of a new high-end salon space in Delray Beach. Located at 1625 S. Congress Avenue, the 5,372-square-foot space will accommodate customer consultations and visits for hair loss solutions.

Both locations have a planned occupancy of November, 2018.

 

 

Aetna Inks Huge Office Deal At New Mixed-Use Project At Site Of Old Fashion Mall

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Aetna has agreed to a lease for about half of a planned 175,000-square-foot office building at the new Plantation Walk development in Plantation.

The office building is part of a $350 million mixed-use project that Encore Capital Management is building at the site of the old Fashion Mall at 300 NW 82nd Ave. When completed, Plantation Walk also will have 200,000 square feet of retail space and 700 luxury apartments.

A source close to the negotiations confirmed the deal with Aetna. The property’s office leasing agent, Jay Adams of Newmark Knight Frank, declined to comment for this story. Aetna’s broker, Steve Ernst of Cushman & Wakefield, did not return a phone call seeking comment.

The seven-story building is due to be completed this summer, with the first tenants moving in by December, according to a spokeswoman for Plantation Walk.

Aetna currently has about 100,000 square feet at 1340 Concord Terrace at the Sawgrass Corporate Park in Sunrise, according to CoStar data.

 

Source:  CoStar