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CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

January 14, 2019/in Done Deals, News/by SFOBA STAFF

CBRE will move from its current offices at 200 East Las Olas Boulevard. CLICK ON THE HEADLINE FOR MORE

Office Depot HQ Site Sells For $33 Million

January 7, 2019/in Done Deals, News/by SFOBA STAFF

Avison Young Principal Keith O’Donnell completed three transactions totaling $33 million on behalf of Investors Warranty of America to sell a 42.7-acre property in Delray Beach. CLICK ON THE HEADLINE FOR MORE

CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

January 14, 2019/in Done Deals, News/by SFOBA STAFF

CBRE will move from its current offices at 200 East Las Olas Boulevard. CLICK ON THE HEADLINE FOR MORE

Office Depot HQ Site Sells For $33 Million

January 7, 2019/in Done Deals, News/by SFOBA STAFF

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CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

January 14, 2019/in Done Deals, News/by SFOBA STAFF

CBRE announced plans today to relocate its Fort Lauderdale office to a new 12,993-square-foot space on the 15th floor at Bank of America Plaza, a 23-story office building also known as Las Olas City Centre in downtown Fort Lauderdale.

Part of CBRE’s global “Workplace360” initiative, the new office at 401 East Las Olas Blvd. will feature both state-of-the-art technology and design that enhances workplace experience and seamlessly connects employees. CBRE plans to complete its relocation in Q3 2019.

CBRE’s Workplace360 initiative promotes flexible and mobile working with enhanced technology and features a balance of workplace settings, including both collaborative and private spaces that employees can self-select to accommodate their hour-by-hour needs.

“At CBRE, we pride ourselves in knowing how to enhance the workplace experience to drive business change,” said Scott Correale, Managing Director at CBRE. “We have seen the success of our Workplace360 Miami office, and we are excited to bring this innovative initiative to Fort Lauderdale. Our new office will create a more collaborative culture for our employees in a sustainable environment, and we know it will have a meaningful impact in attracting and retaining top talent.”

“Our new office will showcase a new way of working to our clients, and we are excited to invite them to our new space. They will experience cutting-edge solutions to help inform their decision-making process as they consider their future workplace needs,” said Zach Wendelin, Senior Vice President at CBRE, who represented the firm in the lease transaction.

CBRE is leveraging its in-house Workplace and Project Management services to implement the project from initiation through move-in. Employee committees will participate in decision-making to create a unique office experience that caters to individual health and wellness, while also reflecting the excellence of the CBRE brand and corporate culture.

“From productivity and wellness, to engagement and recruitment, the workplace directly contributes to business results. Better business performance begins with better workplace performance, and at CBRE, we practice what we preach,” said Cicily Scharlach, program manager for CBRE’s Workplace360 initiative. “By driving greater collaboration and productivity, and improving our business agility, our newest Workplace360 office will be an environment where our employees will feel engaged and thrive.”

CBRE will move from its current offices at 200 East Las Olas Boulevard.

Office Depot HQ Site Sells For $33 Million

January 7, 2019/in Done Deals, News/by SFOBA STAFF

Avison Young Principal Keith O’Donnell completed three transactions totaling $33 million on behalf of Investors Warranty of America to sell a 42.7-acre property in Delray Beach. The site is the former Office Depot headquarters at S. Congress Avenue and Old Germantown Road.

“Immediately after being awarded the listing, we evaluated multiple and varied uses including colleges, office, and entertainment, and investors looking to renovate existing assets,” said O’Donnell. “Ultimately, we secured a dream team of well-known developers to purchase the property and embark on a transformative redevelopment project.”

The property was divided into three parcels and sold to three South Florida development groups which joined together to create a new mixed-use project. Centerpointe Delray Holdings, a partnership between Miami-based firms 13th Floor Investments and Key International and Boca Raton-based CDS International Holdings, plans to build more than 600 multifamily units. Separately, CDS, which also owns The Arbors office building on the northeast corner of the site, plans to develop retail and office components. The project will be anchored by a 1.8-acre park with jogging and bike trails to connect to the 25-acre Delray Natural Oaks Preserve.

“We are excited to bring residential units for families and young professionals to Delray Beach as part of a landmark commercial site,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “The result will be a world-class live-work-play community in line with the city’s vision for a vibrant destination along Congress Avenue.”

Inigo Ardid, Co-President of Key International, added: “We’re looking forward to delivering a new wave of residential product to the Delray Beach market, which poses significant growth opportunities. This site will work in tandem with the exciting additions joining the area to create a central lifestyle locale.”

The Delray Beach City Commission unanimously approved the master plan and will collaborate with the developers on the project. Four- and five-story apartment buildings and two- and three-story townhouse buildings are planned. The retail and restaurant space will be near the S. Congress Avenue and Old Germantown Road intersection.

“Early in the seller’s quest for buyers, Keith brought the property to my attention and challenged our team to think about how this last great South Palm Beach County parcel could be integrated into the success of Delray Beach’s downtown transformation,” said Jeff Perlman, Vice President of CDS and former Delray Beach Mayor. “I was the mayor who got the call about Office Depot leaving the site for Boca Raton 12 years ago, a decision that prompted us to rethink the future of Congress Avenue. We believed back then – and still do – that this property will be the catalyst to create Delray Beach’s next great street, and it’s an honor to be involved.”

O’Donnell’s history with the property, which dates back to its days of IBM’s occupancy through Office Depot’s growth to a global enterprise, played a significant role in Investors Warranty’s selection of Avison Young to lead the sale.

“We remained committed to ensuring the delivery to Delray Beach the type of project it deserved while maximizing upside for our shareholders, and Keith’s experience with the property and other complex projects nearby such as Mizner Park in Boca Raton proved invaluable in achieving our goals,” said David Feltman, former executive of Investors Warranty.

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CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

Office Depot HQ Site Sells For $33 Million

CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

Office Depot HQ Site Sells For $33 Million

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CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

Office Depot HQ Site Sells For $33 Million

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