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Commercial Boulevard Office Vacancies Soaring

November 14, 2012/in News/by SFOBA STAFF

The office market along the heart of uptown Fort Lauderdale’s Commercial Boulevard offers easy access to Interstate 95 and Florida’s Turnpike and good bargains for businesses seeking breaks on rent.

The mostly older buildings are losing their appeal as tenants leave the stretch for newer and more upscale complexes across Broward County and South Florida.

Real estate brokers say they’re having to forgo traditional office tenants along Commercial and instead are targeting more medical businesses and schools.

“We’re chasing the deals, just like everybody else in that market,” said Peter Reed, a broker at Commercial Florida Realty Services in Boca Raton.

Another broker was even more blunt.

“It’s like hand-to-hand combat retaining and attracting tenants there,” said Jonathan Kingsley, senior vice president at Jones Lang LaSalle in Miami.

As businesses recover from the recession, the region’s most prestigious office buildings are almost fully leased. But second-tier properties continue to struggle. Tenants often prefer newer buildings to them because they offer more efficient layouts and high-speed Internet connections.

Between I-95 and the turnpike, there are 17 buildings in the Commercial Boulevard market consisting of 1.1 million square feet. The vacancy rate is 27.5 percent, well above the 16.5 percent vacancy for all of Broward, according to Commercial Florida Realty.

A 167,270-square-foot building at 2050 Spectrum Boulevard is almost a third vacant, as is a building at 2101 W. Commercial Blvd. Some of the smaller buildings are half-empty.

BellSouth, Orlove Pharmaceuticals, Northwestern Mutual and the Katzman Garfinkel & Berger law firm are among the tenants to leave the Commercial Boulevard market in recent years.

Katzman Garfinkel leased 18,000 square feet at 1501 NW 49th Street for about three years but left in 2011 when it bought a larger building in Margate.

Along Commercial, the firm often found its parking spaces filled by students from a local college, said Donna Berger, managing partner of Katzman Garfinkel. What’s more, the layout of the building was inconvenient, she said.

“When you’re running a business, you’re looking for a big space, parking, and for it to be easy for clients and customers to find you — and you want them to be comfortable when they get there,” Berger said. We had a happy home there for years, but at the end of the day, we just outgrew it.”

Competition from the Cypress Creek market and other complexes in southwestern Broward will make it difficult for Commercial to make a comeback, brokers say.

“There really is no great hope for that corridor,” Kingsley said. “We project that it will always be a secondary market.”

 

Sources: Sun-Sentinel

https://sfoba.com/wp-content/uploads/2012/11/2101-W-Commercial-Boulevard.jpg 270 275 SFOBA STAFF https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png SFOBA STAFF2012-11-14 18:42:212012-11-14 18:42:21Commercial Boulevard Office Vacancies Soaring

Colliers Brings On Two Veteran Brokers

November 13, 2012/in News/by SFOBA STAFF

Colliers International South Florida is pleased to announce that Ronald A. Schagrin, SIOR and Elias Porras, CCIM, SIOR have joined the firm as Senior Vice Presidents.

Schagrin and Porras have both been in the business for over 25 years and have worked as a team representing industrial and office landlords and tenants throughout Broward and Palm Beach counties.

“Ron and Elias are game changers for Colliers South Florida,” says Stephen Nostrand, CEO. “Their experience and track record of memorable client service and expertise in the field of both industrial and office leasing is a perfect fit with our existing team.”

Prior to joining Colliers, Schagrin was a co-founding partner along with Porras of Commercial Property Realty Advisors, a full service real estate firm that operated for nine years, which later became Commercial Property Realty Group. He served as Senior Vice President at Prudential CRES Commercial Real Estate South Florida. His commercial real estate career began at Colliers International South Florida where when he left in 2001 he served as Senior Director. He is a founding Board Member of Gilda’s Club South Florida and has served as the Chairman of the Board of Directors. Currently Schagrin serves as President for the Georgina Dieter Dennis Foundation which provides scholarships to vocal majors attending Florida universities and colleges.

“With the menu of services Colliers is able to provide, combined with my experience of understanding market trends, our clients and our prospects will receive world class commercial real estate options,” says Schagrin.

Porras partnered with Schagrin in the operation of Commercial Property Realty Advisors, LLC (CPRA). He also acted as Vice President/Broker with Prudential CRES Commercial Real Estate South Florida. He began his brokerage career back in the 1980s with Colliers International. Porras is on the National Recruitment Committee with SIOR. He is a member of the South Florida Office Broker’s Association, the Society of Commercial Realtors, National Association of Realtors and Industrial Brokers of South Florida.

“Having vast experience in real estate market trends, relocation services, stabilization and disposition of distressed or underperforming properties, Colliers International’s global offerings will provide my clients with an array of solutions, as well as the ability to tap in to the strength of over 12,300 professionals around the world,” says Porras.

0 0 SFOBA STAFF https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png SFOBA STAFF2012-11-13 20:56:142012-11-13 20:56:14Colliers Brings On Two Veteran Brokers

We Need Your Support

November 7, 2012/in News/by SFOBA STAFF

Now, c’mon…you gotta admit we don’t ask you for much.

And we know you’ve been enjoying our blog posts (the SFOBA blog received a total of 519 visits that yielded 966 PAGE VIEWS last month).

So before you finalize those 2013 marketing budgets, consider sponsoring the SFOBA blog

Sponsorships are just $90 per month and the ads are…

 

 

 

 

 

 

(Check out NAI Rauch Weaver Norfleet Kurtz’s sponsorship ad up there in the top right.)

But remember…Sponsorships are limited.

Call 754.444.0940 or email us at admin@sfoba.com today to reserve your spot!

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Bryason Realty Awarded Exclusive Representation For 89,000 SF Office Building

November 5, 2012/in News/by SFOBA STAFF

Bryason Realty Corporation is pleased to announce the exclusive listing for Executive University Courts in Lauderhill.

Richard Gerber, Associate with Bryason Realty, will direct the leasing for Executive University Courts, LLC. Executive University Courts includes 88,800 SF of Class B office space.

Gerber currently represents several Coral Springs listings, including the 80,380 square foot Coral Springs Executive Tower, located at 210 North University Drive.

https://sfoba.com/wp-content/uploads/2012/11/Executive-University-Courts-Lauderhill.jpg 270 275 SFOBA STAFF https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png SFOBA STAFF2012-11-05 19:40:402012-11-05 19:40:40Bryason Realty Awarded Exclusive Representation For 89,000 SF Office Building

We’re Such A Sell Out

October 31, 2012/in News/by SFOBA STAFF

Opportunities to host an SFOBA meeting in 2013 sold out in 25 minutes!

We’d like to thank you all for your support and response! The completed 2013 calendar will be forwarded prior to the end of the year.

We are, however, keeping a “waiting list” for on file in the event that an opportunity comes up.  We already have added 6 to our list, but we’d be more than happy to add you.  Just let us know.

We hope to see you all on Thursday, November 15th at the luncheon hosted by Pointe Group Advisors and TA Associates Realty at International Place II, 1580 Sawgrass Corporate Parkway in Sunrise.

RSVP NOW if you haven’t already done so!

https://sfoba.com/wp-content/uploads/2012/10/Sold-out.gif 270 275 SFOBA STAFF https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png SFOBA STAFF2012-10-31 20:11:182012-10-31 20:11:18We’re Such A Sell Out

Pointe Group Advisors Appoints Industry Veteran As President

October 25, 2012/in News/by SFOBA STAFF

Miami-based Pointe Group Advisors announced that industry veteran William Holly has been named president of the firm, which specializes in property management, brokerage, acquisitions and development.

“We are delighted that William has joined Pointe Group Advisors to help lead our company as we look to expand,” said Peter C. Gardner, Founder and CEO of Pointe Group Advisors. “His extensive real estate experience in brokerage services makes him the ideal candidate to position our firm for further growth.”

Holly brings more than 20 years of experience in commercial real estate to his new role. He will be tasked with leading the firm’s expanding footprint in Florida and growing its brokerage services.

“This is a wonderful opportunity to build upon a best in class management platform and enhance brokerage services for Pointe Group Advisors,” added Holly. “I look forward to joining this team of experienced professionals and continuing to develop the brand in the Florida market.”

Holly has represented 20 ‘Class A’ office buildings in South Florida and owns the ‘Class A’ office pre-lease records in the Coral Gables, Brickell and Miami Beach submarkets. He has been responsible for 12 building naming and signage rights during his career. In addition, Holly has represented over 1.5 million square feet of tenants and sold more than $350 million in commercial real estate.

A native of Miami, Holly is active in the Florida community. He serves on the board of trustees for Ransom Everglades School, previously serving as chairman, and is chairman of CCCP, an organization that funds the construction of churches internationally. He is the past president of the Brickell Area Association and served as chairman of the Historical Museum of Sothern Florida. Holly is a graduate of Florida State University.

Pointe Group Advisors has offices in Miami, Fort Lauderdale, Palm Beach, Sarasota and Tampa, with three million square feet of commercial space under management and leasing.

https://sfoba.com/wp-content/uploads/2012/10/William-Holly.jpg 270 275 SFOBA STAFF https://dev.sfoba.com/wp-content/uploads/2026/08/SFOBA-logo-sharpened-transparent.png SFOBA STAFF2012-10-25 03:28:412012-10-25 03:28:41Pointe Group Advisors Appoints Industry Veteran As President
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