Community Foundation Of Broward Acquires Downtown Fort Lauderdale Property

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Community Foundation of Broward has acquired the three-story office building at 200 North Andrews Avenue in downtown Fort Lauderdale for $5.7 million, securing a permanent home for the organization and a hub for philanthropy and collaboration.

The 23,656-square-foot property is located a short walk from the Broward County Government Center. The Foundation plans a renovation of the building to accommodate its offices, including retrofitting the building to meet current hurricane-resistance standards, which will begin in 2027, with move-in planned for early 2028.

Steve Hyatt, Senior Vice President with Berger Commercial Realty, represented Community Foundation of Broward in the acquisition. The seller, Curtis T. Bell Trust, was represented by Gary Glusman and Harry Chakalson of NEG Realty.

“This acquisition represents an important long-term investment for both the Community Foundation of Broward and downtown Fort Lauderdale,” said Hyatt. “The Foundation has had an extraordinary impact throughout Broward County, and 200 North Andrews gives it a permanent home where it can continue bringing people together, supporting local organizations and strengthening the community for years to come.”

Founded in 1984, Community Foundation of Broward has provided more than $250 million in grants throughout Broward County. The purchase of 200 North Andrews Avenue will not impact the Foundation’s annual grantmaking, thanks to the generous support of the Frederick A. DeLuca Foundation. The move will place the organization in the heart of downtown Fort Lauderdale as significant public investment and redevelopment continues in the surrounding area.

The transaction also holds personal significance for Steve Hyatt and his wife Paige, who have been longtime supporters and are former board members of the Community Foundation of Broward. In recognition of that longstanding relationship and the Foundation’s work in the community, Hyatt and Berger Commercial Realty represented the Foundation on a pro bono basis for this acquisition.

The sale closed September 11.

JLL Arranges New 19,330 SF Office Lease In Broward County

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JLL has arranged a new, 19,330-square-foot office lease on behalf of Brasfield & Gorrie at Weston Pointe I in Weston, located at 2400 N Commerce Parkway. Brasfield & Gorrie is a leading provider of general contracting, design-build and construction management services across a wide range of markets. The relocation allows the general contractor to continue growing its South Florida presence. Its other Florida offices are in Jacksonville and Orlando.

JLL Executive Vice President Ryan Levy represented Brasfield & Gorrie in the negotiations. Cushman & Wakefield’s Chase Kulp and Deanna Lobinsky represented the landlord.

“Brasfield & Gorrie required additional office space to accommodate their rapid growth, and Weston offered the strategic location and connectivity to give the team immediate access to job sites and ability to recruiting and retain top talent,” said Levy. “This transaction reflects the continued demand we’re seeing from established companies for well-located, high-quality office space that supports both their employees and their operations.”

Brasfield & Gorrie has maintained a presence in the South Florida market since the early 1980s, with work spanning a range of project types, including commercial, multifamily, healthcare, senior living, hospitality, and industrial. Its work includes Nicklaus Children’s Griffin Surgical Tower, U.S. Courthouse Fort Lauderdale, Carnival Cruise Line Corporate Headquarters Campus, Chick-fil-A Supply Fort Lauderdale Distribution Center and Braman Comprehensive Cancer Center – Mount Sinai, Miami Beach. The company’s relocation comes as businesses continue to evaluate their office needs and seek space that can support growth and provide convenient access to employees, clients and projects throughout the region.

Weston Pointe I is a four-story Class A office tower located within Weston’s commercial corridor, providing convenient access to major transportation routes and surrounding South Florida markets.

The transaction comes amid a South Florida office market that continues to show signs of stabilization. According to JLL’s latest office report for Broward County, office vacancy in the market held steady at 16.4% in the second quarter of 2026, while absorption was flat following a slower start to the year. At the same time, average direct asking rents increased 5.8% year-over-year to $49.84 per square foot, the report stated, with Class A asking rents reaching $52.49 per square foot.

Institutional Property Advisors Facilitates Broward County Office, Mixed-Use Asset Sale

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Institutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, announced the sale of Millennium Plaza at Hallandale, a nine-story, 139,245-rentable-square-foot multi-tenant office and mixed-use building in Hallandale Beach.

The property sold for $40 million.

Douglas Mandel, IPA executive managing director investments in Fort Lauderdale, and Aik Aliferis, IPA executive managing director investments based in Toronto, Canada, in association with Ryan Nee, Marcus & Millichap’s broker of record in Florida, executed the sale on behalf of the principals.

“The asset caters to a mix of professional, medical, and service-oriented tenants with flexible suite sizes ranging from approximately 1,200 square feet to 17,000 square feet, which is ideal for healthcare professional services and government users,” said Mandel. “Demand for assets like Millennium Plaza led to an at least 70 basis point decrease in office vacancy in Hallandale and other Broward County cities last year.”  

 

Aliferis stated: “Commercial real estate investors in Canada seeking American office sector assets find IPA to be an excellent conduit for capital.  In this case, a Canada-based investor partnering with an investor based in Chicago identified the Hallandale market as an up-and-coming submarket with dynamic growth potential and Millennium Plaza at Hallandale as an asset with long-term redevelopment potential. The transaction exemplifies how IPA’s longstanding culture of collaboration and market reach across international borders creates value for clients.”

Constructed in 1974 on over three acres, Millennium Plaza has direct frontage on Hallandale Beach Boulevard/Florida State Route 858. Hollywood South Central Beach and U.S. Route 1 are close by, and Fort Lauderdale-Hollywood International Airport is within a short drive.

Tenant Makes Long-Term Boca Raton Office Commitment

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A confidential tenant has leased 24,653 square feet of office space at 5201 Congress Avenue in Boca Raton.

The triple-net lease carries a 130-month term, giving landlord Mainstreet Capital Partners a long-term tenant commitment at the property. The lease rate was reported at $28 per square foot.

Joseph Freitas of CBRE represented Mainstreet Capital Partners in the negotiations. The tenant was represented by Greg Katz, Carlyle Coffin and Dean Katz of Stream Realty Partners.

The transaction closed May 20, 2026, according to Traded.

Key Facts

  • Property: 5201 Congress Avenue, Boca Raton
  • Space leased: 24,653 square feet
  • Tenant: Confidential
  • Landlord: Mainstreet Capital Partners
  • Lease structure: Triple net
  • Lease term: 130 months
  • Reported rate: $28 per square foot
  • Landlord representative: Joseph Freitas, CBRE
  • Tenant representatives: Greg Katz, Carlyle Coffin and Dean Katz, Stream Realty Partners
  • Closing date: May 20, 2026

Travelpro Signs 30,000-SF Boca Raton Office Lease

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Travelpro has signed a 30,000-square-foot office lease at 6500 Park of Commerce Boulevard in Boca Raton.

The property is owned by Faropoint, and the lease was structured as a triple-net agreement. Financial terms were not disclosed.

Eric Cantor of Cushman & Wakefield represented Faropoint in the transaction. Dean Katz, Adam Bernstein and Greg Katz of Stream Realty Partners represented Travelpro.

The lease adds to ongoing activity in Boca Raton’s Park of Commerce area, a business district that continues to attract office, flex and industrial users seeking access to South Florida’s executive workforce, highway network and regional transportation infrastructure.

Located within the broader Broken Sound/Park of Commerce corridor, 6500 Park of Commerce Boulevard offers proximity to Interstate 95, Florida’s Turnpike, Tri-Rail service and major South Florida airports, making it a strategic location for companies with regional and national operations.

Travelpro, known for its luggage, bags and travel accessories, was founded in 1987 and is headquartered in Boca Raton.

Berkadia Arranges $100.4M Refinancing Of Palm Beach Gardens Trophy Office Asset

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Berkadia has facilitated an $100.4 million loan for Gatsby Florida to refinance DiVosta Towers, a 220,000-square-foot Class A office campus in Palm Beach Gardens.

One of the newest trophy office towers in Palm Beach County, DiVosta Towers consists of two 11-story office towers and a connected structured parking facility. The property is fully leased and home to a diverse roster of national and global tenants.

Senior Managing Director Charles Foschini, Managing Director Scott Wadler and Associate Director Shannon Wilson of Berkadia Miami arranged the loan on behalf of the sponsor, Gatsby Florida.

Cirrus Real Estate Partners provided a three-year, floating-rate, interest-only loan. Proceeds will refinance the existing loan Berkadia arranged in 2022 and position the asset for continued performance.

“In today’s lending environment, office is the most scrutinized asset class, and refinancing even high-quality properties has become increasingly selective,” said Foschini. “DiVosta Towers stands apart. With full occupancy, institutional-caliber tenancy, and a location where new supply is effectively constrained, this was exactly the type of asset lenders are still willing to back.”

 

“Palm Beach Gardens has emerged as one of the strongest office submarkets in the country, supported by strong in-migration and massive corporate investments in and around West Palm Beach,” added Wadler. “Office rents are up more than 90% over the past decade, and that growth is being driven by real fundamentals. The building’s location and performance coupled with best-in-class ownership and management made this deal possible. The Gatsby Florida team has employed a class-leading tenant program in the building and continues to outperform in the state.”

 

“Since taking ownership of the properties in 2020 and completing the full lease-up and construction of the towers we have been able to attract, and continue to attract, some of the best global firms to our property,” added Isaac Schalom, Vice President, Gatsby Florida. “By having a hands-on approach to the management, leasing and all other aspects we continue to add value to this strategic asset in Palm Beach County.”

Located at 3825 and 3835 PGA Boulevard, DiVosta Towers was completed in 2019 and 2020 and is a highly visible landmark along I-95, distinguished by its two Louvre pyramid-inspired architectural frameworks. It was the first new office development delivered in the submarket in more than a decade. Tenants include JP Morgan, Wealthspire Advisors, Virtu Financial, and others.

The campus features floor-to-ceiling glass, 10-foot ceiling heights, and a best-in-class amenity package, including structured parking with direct lobby access, tenant conference and event space, high-speed elevators, EV charging stations, and outdoor gathering areas. DiVosta towers in the newest office building in the submarket in over 15 years.

“These buildings are visible 24/7 from I-95, A1A, PGA Boulevard, and other streets throughout Palm Beach Gardens. They are iconic in design and an example of our firm’s brand. We are very happy with their performance and look forward to maintaining this standard across all of our properties. We are excited to begin construction this year on the newest office tower in this underserved market—The Modern. This building will complement what we have achieved at DiVosta Towers and serve best-in-class global tenants relocating to Palm Beach County,” said Babak Ebrahimzadeh, President of Gatsby Florida.

Tenants benefit from immediate access to more than 2.5 million square feet of surrounding retail, including The Gardens Mall, as well as a 130,000-square-foot Life Time fitness facility directly across the street. The property is prominently positioned along PGA Boulevard and State Road A1A, one of the region’s most sought-after commercial corridors.