CBRE Named Exclusive Leasing Agent For Plantation Office Building

/in , /by

Brookwood Financial Partners, LLC has appointed CBRE as the exclusive leasing agent for Lakeside Office Center, a 134,443-square-foot Class A office building located at 600 N. Pine Island Rd. in Plantation.

Brookwood Financial Partners, LLC is a nationally recognized private equity real estate who has invested over $1.9 billion of equity to acquire a portfolio of 200 commercial real estate properties, seven operating companies, and 452 gas stations with convenience stores, with a total capitalization of over $4.5 billion.

“As we continue to invest in Lakeside Office Center, we are partnering with CBRE to rebrand and reposition the property to attract today’s office users. Over the next 12 months we will implement a speculative suite program, upgrades to the lobby, amenity and outdoor areas including additional seating, enhanced Wi-Fi, and collaboration spaces,” said Thania Potosme, Vice President and Asset Manager at Brookwood Financial Partners, LLC.

John Criddle, Joe Freitas and Max Pawk with CBRE will be marketing the property for lease on behalf of Brookwood Financial Partners, LLC. The current vacancy is 37,582 square feet with spaces ranging from 1,500 square feet to 14,760 square feet of contiguous space available for lease.

Built in 1986, Lakeside Office Center is a five-story office building featuring a two-story glass atrium, a conference center, on-site security, and newly constructed, covered parking garage that is shared with the adjacent multifamily project. The property is located approximately 2.5 miles north of the Pine Island exit on Interstate 595, providing tenants with a central location and easy access to Downtown Fort Lauderdale, airports, and other major highways, including the Sawgrass Expressway, Interstate 75, the Florida Turnpike, and Interstate 95.

“Lakeside Office Center is one of a few office properties in the Plantation submarket that provides a true live-work-play environment with walkability to nearby restaurants, banking, retail, and housing. The property is adjacent to multiple new upscale multifamily residences, including Veranda Shoppes, The Remy Apartments, The Manor in Plantation, and the under-construction Plantation Midtown Square project, which will bring more retail and restaurant options. In addition to the surrounding amenities, Brookwood’s capital improvement plan will elevate the property even further and continue to attract office users,” said CBRE First Vice President Joe Freitas.

 

Stiles Sells Building In Prime Location For Near Record

/in , /by

Stiles has closed the $3.3 million sale of a 10,052-square-foot building situated on a 33,723-square-foot lot at 325 SW 26th Street in Fort Lauderdale.

The $328 per square foot sale price was among the highest in the airport/port district in the past two years.

Stiles Senior Vice President Kimberly Barbar represented the seller in the transaction. Joe Mongillo of LoKation Real Estate represented the purchaser, 325 SW 26th Street LLC, which plans on relocating its business operation from California.

“It’s rare to find a site this large with a remodeled, move-in ready building already on the property,” said Barbar. “Couple that with a superb location within minutes of both a busy international airport and one of the largest ports in the U.S. and it made this a very attractive property.”

Set on 0.77 acres, the building features a wide open floor plate, a remodeled interior and exterior, two commercial kitchens, new impact windows and doors and a large parking lot on both sides of the building. Situated less than a mile from the Fort Lauderdale-Hollywood International Airport and Port Everglades and minutes from I-595 and downtown Fort Lauderdale, the building also has prominent signage potential and access.

Barbar is also representing the owner of a superbly-located building with unmatched visibility along Fort Lauderdale’s premier retail corridor. 2871 N Federal Highway is a flexible showroom and office space located near top-tier shopping destinations with excellent surrounding demographics. The building has more than 200 feet of frontage on N Federal Highway (U.S. 1).

 

West Palm Beach Office Building Trades For $252 PSF In Off-Market Deal

/in , /by

Yishai Sinai, Managing Broker with Biscayne Advisors, represented the buyer in the purchase of a 41,400-square-foot suburban Class B office building located at 2005 Vista Parkway in West Palm Beach.

Berger Commercial Realty/Corfac International Vice President Brian Batchelder and Senior Vice President Joseph P. Byrnes represented the seller, 123 West 92nd Street, LLC, in the transaction.

153 East 26th Street, LLC purchased Vista Center for $10,430,000, or $252 per square foot.

“This was a win-win situation as the Seller was able to sell the asset at the pinnacle of office sales in South Florida while leaving some value added for the Buyer to elevate the lease rates due to the strong leasing market,” commented Batchelder.

Berger Commercial Realty has retained the leasing and property management for the new owner.

Built in 2004, the building, located at the entrance of a first-class business park, was completely renovated in 2013 and features Okeechobee Boulevard frontage, free assigned covered parking, free surface parking, impact resistant windows, and is located near restaurants, lodging, banking, and shopping.

 

CBRE, HS Capital Facilitate Over 15,000 SF Of Leases At Cypress Corporate Center In Fort Lauderdale

/in , /by

CBRE has arranged over 15,000 square feet of leases at Cypress Corporate Center, a 140,635-square-foot Class A office building located in Fort Lauderdale’s Cypress Creek submarket.

Gordon Messinger with CBRE represented the landlord, HS Capital, in the lease negotiations.

America’s Consumer Advocacy (ACA) Group, a legal professional services organization, leased 5,691 square feet of office space on the 4th floor and will occupy the building in January 2023. The new office marks the group’s second location in South Florida, and it will employ approximately 15 people with plans to double in headcount. The Easton Group’s Jake Weiss represented ACA Group.

Additionally, Humana, one of the largest health insurance providers in the nation, has renewed their 9,663-square-foot lease at Cypress Corporate Center. Cushman & Wakefield’s AJ Belt represented Humana.

“HS Capital has made a major financial commitment to enhancing Cypress Corporate Center. The property provides employers the best value play in the Cypress Creek submarket with high visibility, the best parking ratio in submarket, and a location drawing in talent from across Palm Beach, Broward and Miami-Dade counties,” said Messinger, CBRE Executive Vice President.

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. The property is 89% occupied by various tenants including DataCore, Delphi Behavioral Health Group and Total Quality Logistics.

Cypress Corporate Center is within a short drive to numerous amenities, including retail, dining and banking options. Additionally, tenants have nearby access to the TriRail, the Fort Lauderdale Executive Airport, Interstate 95, and the Florida Turnpike.

 

Shutts & Bowen Expansion, Zions Bank Lease Bring The Main Las Olas To 100% Leased

/in , /by

Blanca Commercial Real Estate announced that The Main Las Olas office component is now 100% leased, twenty four months after receiving its temporary certificate of occupancy with the 3,670 RSF expansion of Shutts & Bowen and new tenant Zions Bank leasing 3,931 RSF of office space.

The property is a 1.4 million-square-foot, mixed-use office, residential and retail community featuring Class A offices, stunning high-end architecture, chic residences and destinations for gathering, dining and shopping. The 25-story property features a 387,402-square-foot tower, 17,355 square feet of total retail space, a 2,951-square-foot fitness center, 3,360-square-foot office lounge and conference center, along with an outdoor terrace featuring a fire pit, bar and glass floor oculus with panoramic views of Las Olas and the beach with event and conference space.

The property’s leasing team is led by Danet Linares, executive vice chairman of Blanca Commercial Real Estate, alongside Christina Jolley, senior vice president; Sky Jones, associate vice president; and Tere Blanca, chairman & CEO.

The Main Las Olas was developed by Shorenstein Properties LLC and Stiles, two real estate leaders with development track records spanning more than a century, and was designed by nationally acclaimed architecture firm Cooper Carry.

Shutts & Bowen was represented by Zach Wendelin and Kevin Probel of CBRE, Inc.

Tenants at The Main Las Olas include financial, legal, real estate and insurance sectors, both relocation and new-to-market, solidifying the continued demand for office space in Fort Lauderdale. Moxies and Fogo de Chão will occupy the anchor retail on the ground floor of The Main Las Olas. Tenants include, among others:

  • JPMC 
  • Marcum
  • RSM 
  • Starr Indemnity
  • Raymond James
  • Cherry Bekaert 
  • Synovus Bank
  • Walker Dunlop
  • Starboard Value

“We are thrilled to reach this milestone,” said Linares, Executive Vice Chairman of Blanca Commercial Real Estate. “Over the last year, flight-to-quality remained at the forefront of all major office moves and the uptick of new-to-market demand translated into the stellar performance of new office developments and top-tier existing Class A office space.”

Shorenstein and Stiles developed The Main Las Olas, anticipating the demand for high-quality, luxury office space with world-class architecture and amenities that differentiate the property as the preferred choice for corporate users and its employees. As the only office building in the region offering businesses a full range of amenities, conference space and ceiling heights and surpassing anything else in the market, The Main Las Olas has been the premier choice for companies migrating to South Florida due to the pandemic.

The Main Las Olas is the first new construction class A office space in downtown Fort Lauderdale in more than a decade, further solidifying Broward County’s downtown core as a major player in the commercial real estate office sector. Low taxes and quality of life compared to other major cities are two of the big factors driving the continued migration to South Florida including downtown Fort Lauderdale, one of the most dynamic and growing urban centers in the region. Well-known companies headquartered in Broward County include AutoNation, Citrix, Spirit, Virgin Voyages, Microsoft’s Latin American headquarters, Royal Caribbean International, Chewy, and Hotwire Communications. Other major companies with a significant presence include American Express, Chiquita, JetBlue, Marriott, and DHL.

“We are extremely pleased with the success of The Main Las Olas, the first luxury office of its kind,” said Charles Malet, President and Chief Investment Officer at Shorenstein. “The property underscores Shorenstein’s continued focus on developing differentiated, best-in-class office properties in attractive and growing markets. As preferences for office spaces continue to evolve, we believe these types of top-quality spaces will remain the desired choice for tenants nationwide.”

 

“Along with our partner Shorenstein, we set out to establish a new bar for luxury urban office, not only in Fort Lauderdale, but in all of South Florida,” said Stiles CEO Ken Stiles. “The Main Las Olas offers a truly distinctive integrated work, life and entertainment experience with an unmatched level of quality, amenities and design. We are proud to have had the opportunity to continue our 72 year track record of quality development with this iconic project.”

 

Berger Commercial Realty Negotiates Seven Leases At Prospect Park I & II Totaling ±38,000 Square Feet

/in , /by

Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM, Vice President Jonathan Thiel, and Sales Associate James Karrat, represented the landlord, AKF3 SF LIGHT INDUSTRIAL LLC % ADLER KAWA REAL ESTATE ADVISORS, in executing seven leases a Prospect Park I & II, two business parks totaling 14 buildings and more than 150,000 square feet located in Fort Lauderdale.

The deals include a mix of new leases, expansions and lease renewals including:

  • Bioxtek LLC signed a new lease for ±11,120 square feet
  • American Way Health, LLC signed a new lease for ±3,274 square feet
  • Pointed Engineering Inc signed a new lease for ±1,305 square feet
  • Commercial Trade Service signed a new lease for ±902 square feet
  • Residential Warranty, Inc. renewed its lease for ±8,309 square feet and expanded by ±5,589 square feet
  • Orthotic & Prosthetic Centers, Inc. renewed its lease for ±5,289 square feet
  • HCB Specialties LLC renewed its lease for ±2,385 square feet

Located within the Fort Lauderdale Commerce Center, Prospect Park I, located at 5201-5255 NW 33rd Avenue, consists of six buildings and features prime office suites ranging from 1,178 square feet to 4,719 square feet.

Prospect Park II, located at 3301-3471 NW 55th Street, consists of eight buildings totaling 81,925 square-feet of office and flex space with bays ranging from 902 square feet to 5,589 square feet. Renovated over the past two years, Prospect Park II features contemporary designs and enhanced curb appeal.

The lease deals bring the buildings to 92% occupancy.