JLL announced the closing of a lease renewal with long-time tenant TD Bank and a new lease with Allied Integrated Marketing totaling 22,000 square feet of office space at Cypress Financial Center, a 198,528-square-foot class A office building in Fort Lauderdale.
The property, located at 5900 N. Andrews Ave., is owned by Steelbridge Capital, a privately held, value-focused real estate investment company based in Miami and Chicago.
Sandra Andersen, Senior Vice President at JLL, represented Steelbridge Capital in both transactions.
Existing tenant TD Bank renewed its 16,675-square-foot lease and was represented by CBRE Senior Vice President Mathew J. Saker, CBRE Vice President John Jaspert and CBRE Transaction Manager Caroline C. Barone.
Allied Integrated Marketing signed a new lease consisting of 5,325 square feet and will occupy the eighth floor of the building. Allied Integrated Marketing is a full-service agency with 22 offices working with the world’s largest entertainment, culture and lifestyle brands. The tenant was represented by Bob Orban, Senior Vice President, and Tyler Wyant, Associate, at Savills Studley.
“Cypress Financial Center is situated at the geographic center of South Florida, making it the most accessible location to the region’s six million residents, an attractive factor for companies seeking office space,” said JLL’s Sandra Andersen. “The property underwent extensive renovations last year, which has contributed to attracting and retaining top-quality tenants who are seeking an office location with high-end finishes and downtown prestige in a convenient uptown location.”
Cypress Financial Center is the only office complex in South Florida with a direct on-ramp to I-95. Recently completed renovations include upgrades to the lobby and select common areas, complete tower and garage elevator modernization, exterior painting and sealing, replacement of monument and directional signage, new landscaping and exterior lighting.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-04-24 00:57:552017-04-24 00:57:55JLL Closes Leases With Two Tenants Totaling 22,000 SF
The Green Cos. has purchased Sabadell Financial Center, a five-story, 102,007-square-foot office building located at 150 S. Pine Island Road in Plantation.
Clarion Partners LLC sold the Class A office building to Green Cos. for $19.3 million.
The property was 96 percent leased at the time of sale to tenants such as Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein PA.
Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented Clarion Partners in the transaction. James Bernstein, Elizabeth Green and George Brown led The Green Cos. internally.
Paul Stasaitis and Maxx Carney of HFF arranged the 10-year, fixed-rate, $12.5 million acquisition loan through Aegon USA Realty Advisors LLC.
Tower Commercial Real Estate named Scott Allen as Managing Director to lead the growing firm’s tenant representation division. Allen has focused exclusively on tenant representation throughout his 23-year career, serving clients nationally and in South Florida.
The new executive is experienced in all aspects of transactions, from leasing, sales and build-to-suits to acquisition and disposition of assets. Allen has represented clients including mid-to-large cap corporations, law firms, financial service firms, healthcare, municipalities, banks and technology companies.
Before joining Tower, Allen was associated with CBRE since 1996, and represented clients including Spherion Staffing, VITAS Healthcare, City of Fort Lauderdale, Citibank and AutoNation.
“As Tower continues to expand its team and service lines, we are thrilled to have someone of Scott’s caliber and experience to lead and grow our Florida tenant representation platform,” said Jon Blunk, president and founder of Tower Commercial Real Estate.
Headquartered in Miami, with offices in Fort Lauderdale, Boca Raton and West Palm Beach, Tower Commercial Real Estate is a full service commercial real estate brokerage firm active throughout Miami-Dade, Broward and Palm Beach counties. The firm has a current leasing portfolio of more than 3 million square feet, including many of the region’s most prominent Class A office and mixed-use properties.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-04-02 20:49:522017-04-02 20:49:52Tower Commercial RE Names Scott Allen To Head Tenant Representation Division
Butters just paid $21 million for a three-building office complex in Boca Raton, marking the real estate firm’s third acquisition in the Palm Beach County office market in the past year.
A Butters affiliate, BREF 1900 LLC, bought the 120,000-square-foot office complex at 1900-2000 Northwest Corporate Boulevard, off Glades Road and I-95, the company said. The price equates to $175 per square foot.
Records show the seller is New York-based DRA Advisors, which had paid $19 million for the property in 2008.
CBRE brokered the deal.
“There was no asking price,” said Adam Vaisman, director of acquisitions for Coconut Creek-based Butter. “Bids came in and we ended up being selected.”
Vaisman said the three buildings are currently 78 percent occupied, with tenants including Garda World; Rogers & Cowan; Milber Makris, Plousadis & Seiden; Katz & Associates and Pinkerton. The buildings have covered parking.
He said Butters plans to invest $3 million in the complex, with a goal of bringing it up from Class C to Class B, and allowing the company to raise rents by a few dollars to the low $20s per square foot. Vaisman declined to provide the buildings’ exact current lease terms. Planned capital improvements include modernizing the exterior, entrance and corridors with new carpeting, tile, paint and fixtures, as well as enhancing the landscaping.
“In the Class A market, the asking rents are upper $20s, $30s net, and we feel there is a gap between that class’s rents and the Class B rents, and we can take advantage of that,” Vaisman said. “We can raise the rents by investing some money in the buildings.”
“We just like office product in this market,” he said. “No one is building it and you can buy it below replacement cost.”
Overall in Palm Beach County, demand for office space is high, according to an Avison Young report released early this year. New construction is expected in West Palm Beach this year, such as the Gardens Innovation Center, which incorporates green building features.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-03-27 01:57:282017-03-27 01:57:28Butters Picks Up Boca Office Complex For $21 Million
CBRE Senior Vice President Tom O’Loughlin and Vice President Larry Genet negotiated the sale the Former Post Office Building located at 4350 North Andrews Avenue in Oakland Park, to a new-to-market company.
Andrews Ave. Estate LLC, dba Panda Kitchen & Bath, a kitchen and bathroom supply store, purchased the property for $2,500,000, or approximately $123.00 per square foot.
O’Loughlin and Genet represented the seller, RLC LTD, in the transaction, which closed March 2.
The one-story, 20,368-square-foot Class C building, which is situated on 2.34 acres, was built in 1965 and has been used as a post office facility since 1996. The building offers direct frontage on Andrews Ave., with 20,500 cars passing per day. The single tenant, freestanding property features 14′ -16′ ceiling heights and a parking lot that can accommodate 106 parking spaces.
“The building was in poor condition with all kinds of specialized build-out by the prior tenant, the United States Post Office,” explained Genet. “It took some serious vision and strategic planning to develop a custom marketing program that relied heavily on digital renderings. Ultimately, that plan generated multiple offers for sale and lease.”
“This is the third residential construction-related deal our team has done in the past two months,” added O’Loughlin. “Stone & marble, cabinet, fixture and furniture companies are all experiencing tremendous growth with the addition of thousands of apartment and condo units being built this cycle.”
According to its website, Panda Kitchen & Bath’s philosophy is to save the customer money by owning the quarry and manufacturing plant, thereby providing the best quality product and the best service at the fairest price, allowing customers to afford quality kitchens and bathrooms that they couldn’t afford before.
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00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-03-12 21:54:222017-03-12 21:54:22CBRE’s Genet, O’Loughlin Negotiate Record Price In Sale Of Former Post Office Building
Crocker Partners sold a 28-story office tower in downtown Fort Lauderdale to an affiliate of Walton Street Capital for $86.75 million.
Records show Crocker affiliate One Financial Plaza LLC sold the building at 100 Southeast Third Avenue to W-Crocker Fin Place Owner VIII LLC, which is controlled by Doug Welker, principal of asset management at Walton Street Capital, a private equity firm based in Chicago. The buyer financed the deal with a $61.23 million loan from SunTrust.
The deal marks the first large sale of an office building in Fort Lauderdale this year. It breaks down to about $314 per square foot.
The 276,572-square-foot Class A office building was built in 1972, and was originally known as the Landmark Bank Tower. When it opened, it was the tallest building in Fort Lauderdale, and is now the sixth-tallest, according to Emporis. One Financial Plaza was renovated in 2011, data from Real Capital Analytics shows. Crocker Partners paid $44 million for the 4-acre property in 2011.
Tenants include the Tower Club restaurant on the penthouse level, anchor tenant Regions Bank, Pipeline Workspaces, AXA Advisors and Fowler White Burnett. Pipeline signed a 20-year lease for a full floor at the building and opened in October. One Financial Plaza includes an attached parking garage, a renovated lobby, new gym and conference space and a redesigned entrance, according to a Loopnet listing.
The office tower is about two blocks away from Las Olas Boulevard, which is going through a commercial and residential resurgence. In September, a JP Morgan investment manager sold the Las Olas City Centre office tower to Deutsche Bank for $220 million, marking one of the biggest office deals in South Florida in 2016.
One Financial Plaza’s new owner, Walton Street Capital, has handled more than $8.4 billion of investments from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net-worth individuals, according to its website. Affiliates of Walton Street Capital have invested more than $7.5 billion of equity into the private equity real estate investment firm.
00SFOBA STAFFhttps://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.pngSFOBA STAFF2017-03-06 00:28:022017-03-06 00:28:02One Financial Plaza Fetches $87 Million
JLL Closes Leases With Two Tenants Totaling 22,000 SF
/in Done Deals, News/by SFOBA STAFFJLL announced the closing of a lease renewal with long-time tenant TD Bank and a new lease with Allied Integrated Marketing totaling 22,000 square feet of office space at Cypress Financial Center, a 198,528-square-foot class A office building in Fort Lauderdale.
The property, located at 5900 N. Andrews Ave., is owned by Steelbridge Capital, a privately held, value-focused real estate investment company based in Miami and Chicago.
Sandra Andersen, Senior Vice President at JLL, represented Steelbridge Capital in both transactions.
Existing tenant TD Bank renewed its 16,675-square-foot lease and was represented by CBRE Senior Vice President Mathew J. Saker, CBRE Vice President John Jaspert and CBRE Transaction Manager Caroline C. Barone.
Allied Integrated Marketing signed a new lease consisting of 5,325 square feet and will occupy the eighth floor of the building. Allied Integrated Marketing is a full-service agency with 22 offices working with the world’s largest entertainment, culture and lifestyle brands. The tenant was represented by Bob Orban, Senior Vice President, and Tyler Wyant, Associate, at Savills Studley.
Cypress Financial Center is the only office complex in South Florida with a direct on-ramp to I-95. Recently completed renovations include upgrades to the lobby and select common areas, complete tower and garage elevator modernization, exterior painting and sealing, replacement of monument and directional signage, new landscaping and exterior lighting.
The Green Cos. Purchases Sabadell Financial Center
/in Done Deals/by SFOBA STAFFThe Green Cos. has purchased Sabadell Financial Center, a five-story, 102,007-square-foot office building located at 150 S. Pine Island Road in Plantation.
Clarion Partners LLC sold the Class A office building to Green Cos. for $19.3 million.
The property was 96 percent leased at the time of sale to tenants such as Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein PA.
Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented Clarion Partners in the transaction. James Bernstein, Elizabeth Green and George Brown led The Green Cos. internally.
Paul Stasaitis and Maxx Carney of HFF arranged the 10-year, fixed-rate, $12.5 million acquisition loan through Aegon USA Realty Advisors LLC.
Source: REBusiness
Tower Commercial RE Names Scott Allen To Head Tenant Representation Division
/in News/by SFOBA STAFFTower Commercial Real Estate named Scott Allen as Managing Director to lead the growing firm’s tenant representation division. Allen has focused exclusively on tenant representation throughout his 23-year career, serving clients nationally and in South Florida.
The new executive is experienced in all aspects of transactions, from leasing, sales and build-to-suits to acquisition and disposition of assets. Allen has represented clients including mid-to-large cap corporations, law firms, financial service firms, healthcare, municipalities, banks and technology companies.
Before joining Tower, Allen was associated with CBRE since 1996, and represented clients including Spherion Staffing, VITAS Healthcare, City of Fort Lauderdale, Citibank and AutoNation.
Headquartered in Miami, with offices in Fort Lauderdale, Boca Raton and West Palm Beach, Tower Commercial Real Estate is a full service commercial real estate brokerage firm active throughout Miami-Dade, Broward and Palm Beach counties. The firm has a current leasing portfolio of more than 3 million square feet, including many of the region’s most prominent Class A office and mixed-use properties.
Butters Picks Up Boca Office Complex For $21 Million
/in Done Deals, News/by SFOBA STAFFButters just paid $21 million for a three-building office complex in Boca Raton, marking the real estate firm’s third acquisition in the Palm Beach County office market in the past year.
A Butters affiliate, BREF 1900 LLC, bought the 120,000-square-foot office complex at 1900-2000 Northwest Corporate Boulevard, off Glades Road and I-95, the company said. The price equates to $175 per square foot.
Records show the seller is New York-based DRA Advisors, which had paid $19 million for the property in 2008.
CBRE brokered the deal.
Vaisman said the three buildings are currently 78 percent occupied, with tenants including Garda World; Rogers & Cowan; Milber Makris, Plousadis & Seiden; Katz & Associates and Pinkerton. The buildings have covered parking.
He said Butters plans to invest $3 million in the complex, with a goal of bringing it up from Class C to Class B, and allowing the company to raise rents by a few dollars to the low $20s per square foot. Vaisman declined to provide the buildings’ exact current lease terms. Planned capital improvements include modernizing the exterior, entrance and corridors with new carpeting, tile, paint and fixtures, as well as enhancing the landscaping.
During the past 10 months, Butters also purchased 851 Broken Sound for $6.125 million in May and 3010 Military Trail for $4.6 million in October, bringing its total office acquisition in Boca Raton to 210,000 square feet and $31.7 million.
Overall in Palm Beach County, demand for office space is high, according to an Avison Young report released early this year. New construction is expected in West Palm Beach this year, such as the Gardens Innovation Center, which incorporates green building features.
Source: The Real Deal
CBRE’s Genet, O’Loughlin Negotiate Record Price In Sale Of Former Post Office Building
/in Done Deals, News/by SFOBA STAFFCBRE Senior Vice President Tom O’Loughlin and Vice President Larry Genet negotiated the sale the Former Post Office Building located at 4350 North Andrews Avenue in Oakland Park, to a new-to-market company.
Andrews Ave. Estate LLC, dba Panda Kitchen & Bath, a kitchen and bathroom supply store, purchased the property for $2,500,000, or approximately $123.00 per square foot.
The one-story, 20,368-square-foot Class C building, which is situated on 2.34 acres, was built in 1965 and has been used as a post office facility since 1996. The building offers direct frontage on Andrews Ave., with 20,500 cars passing per day. The single tenant, freestanding property features 14′ -16′ ceiling heights and a parking lot that can accommodate 106 parking spaces.
According to its website, Panda Kitchen & Bath’s philosophy is to save the customer money by owning the quarry and manufacturing plant, thereby providing the best quality product and the best service at the fairest price, allowing customers to afford quality kitchens and bathrooms that they couldn’t afford before.
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One Financial Plaza Fetches $87 Million
/in Done Deals, News/by SFOBA STAFFCrocker Partners sold a 28-story office tower in downtown Fort Lauderdale to an affiliate of Walton Street Capital for $86.75 million.
Records show Crocker affiliate One Financial Plaza LLC sold the building at 100 Southeast Third Avenue to W-Crocker Fin Place Owner VIII LLC, which is controlled by Doug Welker, principal of asset management at Walton Street Capital, a private equity firm based in Chicago. The buyer financed the deal with a $61.23 million loan from SunTrust.
The deal marks the first large sale of an office building in Fort Lauderdale this year. It breaks down to about $314 per square foot.
The 276,572-square-foot Class A office building was built in 1972, and was originally known as the Landmark Bank Tower. When it opened, it was the tallest building in Fort Lauderdale, and is now the sixth-tallest, according to Emporis. One Financial Plaza was renovated in 2011, data from Real Capital Analytics shows. Crocker Partners paid $44 million for the 4-acre property in 2011.
Tenants include the Tower Club restaurant on the penthouse level, anchor tenant Regions Bank, Pipeline Workspaces, AXA Advisors and Fowler White Burnett. Pipeline signed a 20-year lease for a full floor at the building and opened in October. One Financial Plaza includes an attached parking garage, a renovated lobby, new gym and conference space and a redesigned entrance, according to a Loopnet listing.
The office tower is about two blocks away from Las Olas Boulevard, which is going through a commercial and residential resurgence. In September, a JP Morgan investment manager sold the Las Olas City Centre office tower to Deutsche Bank for $220 million, marking one of the biggest office deals in South Florida in 2016.
And the sale of One Financial Plaza is the second big office building that Crocker has traded in recent months. The Boca Raton-based investment and management firm, along with Cornerstone Real Estate Advisers, sold the Esperanté Corporate Center in West Palm Beach to RedSky Capital for $126 million in July.
One Financial Plaza’s new owner, Walton Street Capital, has handled more than $8.4 billion of investments from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net-worth individuals, according to its website. Affiliates of Walton Street Capital have invested more than $7.5 billion of equity into the private equity real estate investment firm.
Source: The Real Deal