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JLL Closes 17,000 SF Lease At Ft. Lauderdale’s Plaza 100

July 7, 2022/in Done Deals, News/by SFOBA STAFF

The luxury yachting company will occupy the 175,510-square-foot building’s entire 11th floor penthouse accommodating nearly 60 employees.

Grover Corlew Taps CBRE Team To Market Boca Raton Office Buildings

June 26, 2022/in Done Deals, News/by SFOBA STAFF

Grover Corlew tapped CBRE to market two Boca Raton office buildings as the two firms continue to expand their relationship throughout Palm Beach and Broward counties. CBRE Executive Vice President John Criddle, First Vice President Joe Freitas, Senior Associate Max Pawk and Transaction Manager Allie Lancashire have been tapped to lease Palmetto Central, located at […]

JLL Closes 17,000 SF Lease At Ft. Lauderdale’s Plaza 100

July 7, 2022/in Done Deals, News/by SFOBA STAFF

The luxury yachting company will occupy the 175,510-square-foot building’s entire 11th floor penthouse accommodating nearly 60 employees.

Grover Corlew Taps CBRE Team To Market Boca Raton Office Buildings

June 26, 2022/in Done Deals, News/by SFOBA STAFF

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JLL Closes 17,000 SF Lease At Ft. Lauderdale’s Plaza 100

July 7, 2022/in Done Deals, News/by SFOBA STAFF

JLL announced that Cruise Yacht Opco, The Ritz Carlton’s luxury yacht service division, has taken 17,000 square feet at Plaza 100, an 11-story, Class A office building in Fort Lauderdale’s NoBro district at 100 NE Third Avenue.

The luxury yachting company will occupy the 175,510-square-foot building’s entire 11^th floor penthouse accommodating nearly 60 employees.

JLL Managing Directors Doug Okun and Steven Hurwitz represented the landlord, Zurich Alternative Asset Management, in the lease negations. Keith Edelman, Scott Goldstein, and Zach Wendelin of CBRE represented the tenant Cruise Yacht Opco. Formed in 2006, Zurich Alternative Asset Management (ZAAM) is Zurich North America’s dedicated alternative asset management platform. ZAAM invests solely on behalf of Zurich affiliates worldwide, providing asset allocation, investment selection and investment management across hedge funds, private equity and U.S. real estate.

“Fort Lauderdale’s NoBro district is quickly becoming one of South Florida’s most exciting and sought-after destinations,” said Okun. “The urban offerings and multiple transit options have created a live, work, play lifestyle that is attracting companies of all sizes and across all industries.”

Located near Flagler Village and within minutes of the Brightline private rail train station, Plaza 100 offers tenants upscale amenities steps away from the city’s best entertainment and dining options such as Doc B’s Restaurant + Bar, Morton’s the Steakhouse, American Social and other local favorites. The building features a newly renovated plaza, common areas, and conference center, onsite management, and full service, onsite banking. Current tenants at Plaza 100 include U.S. Legal, Oppenheimer, Katz Barron and Mombach, Boyle, Hardin and Simmons, P.A.

According to JLL’s Q1 Office Report for Broward County, the Fort Lauderdale office market has a positive outlook ahead. With more competitive rental rates than Miami-Dade and Palm Beach and the same weather and tax climate as its neighbors, Fort Lauderdale’s central location provides the broadest access to South Florida’s expansive talent pool.

Grover Corlew Taps CBRE Team To Market Boca Raton Office Buildings

June 26, 2022/in Done Deals, News/by SFOBA STAFF

Grover Corlew tapped CBRE to market two Boca Raton office buildings as the two firms continue to expand their relationship throughout Palm Beach and Broward counties. CBRE Executive Vice President John Criddle, First Vice President Joe Freitas, Senior Associate Max Pawk and Transaction Manager Allie Lancashire have been tapped to lease Palmetto Central, located at 1489-1499 W Palmetto Park Road in Boca Raton.

The prominent CBRE office team was awarded the listing by owner Grover Corlew, which purchased the buildings in 2016.

Construction has commenced on a state-of-the-art redevelopment at 1489 W Palmetto Park Road and will deliver the first Class A building to the Boca Raton office market in over a decade. The 1979-built, 83,000-square-foot building will feature ±26,000-square-foot floor plates once it has been redeveloped, with private patio access for 3rd floor tenants and balcony access on 5th floor, full height hurricane impact glass, VRF HVAC systems to allow custom control throughout tenant spaces along with new spec suites on the 3rd floor. The 5-story building offers 5.0/1,000-square-foot parking (mainly covered garage with additional surface with 12 electric car chargers). The redevelopment is slated for a January 2023 completion date.

An entirely new building exterior, which will include a brand-new façade and hurricane impact windows, is planned for the adjacent 5-story, 87,400 square-foot 1499 W Palmetto Park Road building. The project will also include a state-of-the-art gym, high tech conference center, spacious tenant lounge, a comfortable outdoor seating area, new and improved wayfinding and monument signage throughout, complimented by new landscaping.

Located in the heart of Boca Raton, the property is situated at the NE corner of I-95 and Palmetto Pk Rd. It is equidistant between East Boca (Mizner Park/Royal Palm) and Central Boca while also being just 5 minutes from the new Brightline Station and within a walkable distance to restaurants and retail. In addition to Fort Lauderdale International and Palm Beach International airports, the buildings are also in close proximity to Boca Raton and Fort Lauderdale Executive Airports.

Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, the South Florida-based real estate investment management group, Grover Corlew, continues to invest in Boca Raton. Grover Corlew will be renovating 120 E Palmetto, which was recently purchased in March 2022. The company will be upgrading the lobby with new lighting, refreshing the common area corridors, painting the exterior and installing new lighting. Spec suite plans are underway for the 2nd floor and a restroom refresh is planned for the entire building.

Grover Corlew and CBRE’s relationship extends beyond Palmetto Central to 150 & 120 E Palmetto Park Road in East Boca Raton, 600 & 700 W Hillsboro Boulevard in Deerfield Beach, 2401 & 2335 E. Atlantic Boulevard along with 50 NE 26th Avenue in Pompano Beach and 1615 & 1625 S Congress Avenue in Delray Beach (leased by Jeff Kelly and Deborah Fink). The total office portfolio totals 825,095 square feet.

“We have been active in Boca since 2016 when we purchased 1499 Palmetto Park Road, and have since purchased the 1489, 120 and 150 buildings on the same street,” said partner Mark Corlew. “We have and are continuing to commit significant capital to re-introduce these incredibly well-located properties as premier, Class A office buildings with the intent to attract high-quality tenants and talent to our city. Our headquarters are here and we’re raising our children here. Given Boca’s high-quality housing and schools, the new Brightline Station and our growing downtown, our city should be an easy sale to new companies relocating to our region.”