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Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

February 11, 2018/in Done Deals, News/by SFOBA STAFF

Several lease agreements at the building demonstrate the trend of office tenants relocating from Downtown Fort Lauderdale and/or expanding within Cypress Creek for quality, cost-effective space. CLICK ON THE HEADLINE FOR MORE

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

February 5, 2018/in Done Deals, News/by SFOBA STAFF

CBRE arranged the sale. CLICK ON THE HEADLINE FOR MORE

Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

February 11, 2018/in Done Deals, News/by SFOBA STAFF

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

February 5, 2018/in Done Deals, News/by SFOBA STAFF

CBRE arranged the sale. CLICK ON THE HEADLINE FOR MORE

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Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

February 11, 2018/in Done Deals, News/by SFOBA STAFF

Avison Young completed 60,000 square feet of office lease transactions at Trade Centre South, a 215,000-square-foot class A office project located in the Cypress Creek submarket of Broward County, at 100 West Cypress Creek Rd.

Avison Young’s Greg Martin, Principal, and Peyton Moore, Vice President, facilitated the transactions on behalf of the landlord.

Several lease agreements at the building demonstrate the trend of office tenants relocating from Downtown Fort Lauderdale and/or expanding within Cypress Creek for quality, cost-effective space.

Recent lease agreements secured by the agency leasing team at Trade Centre South include:

a new 20,125-square-foot lease with the Broward Metropolitan Planning Organization for its new headquarters which will facilitate its day-to-day operations, board meetings, and community hearings.
a new 4,703-square-foot lease with Whitehouse Engineering.
a new 4,395-square-foot lease with AFLAC.
a new 2,702-square-foot lease with Paradise Cruises.
a new 6,834-square-foot lease with Imperial Brands which represents an expansion and relocation from Downtown Fort Lauderdale.
a new 5,049-square-foot lease with Moffa, Sutton, & Donnini which represents an expansion and relocation from Downtown Fort Lauderdale.
a 3,390-square-foot lease with new-to-market tenant JDI Data.
a 2,029-square-foot lease renewal with American Friends of Hebrew University.
a 4,460-square-foot expansion and renewal of Cequint’s previous 5,615-square-foot space for a total of 10,075 square feet.
a 2,704-square-foot lease renewal with Triumph Staffing.
a 4,290-square-foot lease renewal with ACE/Jiffy Lube.

“Significant increases in rental rates in Downtown Fort Lauderdale are pushing some tenants to evaluate suburban office opportunities,” said Martin. “Trade Centre South provides great value and quality amenities to tenants with an onsite Tri-Rail station, free structured parking, a class A office environment and finishes, all at suburban rental rates significantly lower than the Downtown Fort Lauderdale area.”

One of Cypress Creek’s largest blocks of contiguous space totaling approximately 38,000 square feet is currently available on Trade Centre South’s fifth floor.

Spanning ten stories, Trade Centre South is conveniently located at the crossroads of Interstate-95 and Cypress Creek Road, approximately 15 minutes from the Fort Lauderdale-Hollywood International Airport. Additionally, the property offers a prestigious corporate neighborhood with restaurants, hotels, and nearby amenities.

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

February 5, 2018/in Done Deals, News/by SFOBA STAFF

CBRE arranged the sale of Sawgrass Pointe I, a 230,668-sq.ft. 6-story Class A office building to New York-based True North for $51.1 million.

The property located at 1000 Sawgrass Corporate Parkway in Sunrise was sold by an institutional investor. CBRE’s Capital Markets team of vice chairman Christian Lee and senior vice president José Antonio Lobón represented the seller.

“Sawgrass Pointe I is located in South Florida’s largest office park, Sawgrass International Corporate Park, which is strategically bounded by the Sawgrass Expressway, Interstate 75 and Interstate 595,” explained José Lobón, senior vice president, CBRE Capital Markets. “Being at the nexus of three major South Florida roadway systems offers the business park unmatched access – an estimated 5.6 million people, more than 90 percent of South Florida’s population, live within a 60-minute commute.”

Built in 2002, Sawgrass Pointe I features an above-market parking ratio of 5.0 per 1,000 square feet, water views and recent common area upgrades. The property is 96 percent leased to 17 tenants with a remaining weighted average lease term of more than five years. The office park is the regional headquarters to several blue-chip companies, including Ford, Fidelity Information Systems, AT&T, American Express, Harris Corporation, Xerox and Ticketmaster.

“Sawgrass Pointe I’s location and high-quality modern design make the property extremely attractive to both tenants and investors. Consequently, demand within the investor community was robust,” explained Christian Lee, vice chairman, CBRE Capital Markets.

Market fundamentals in greater Broward County are strong, with positive net absorption and vacancy declining continuously over past six years. Broward’s unemployment rate of 3.3 percent as of October 2017 is the lowest in South Florida, despite robust population growth. The Sawgrass Park submarket has been exceptionally strong. Vacancy has averaged in the single digits over the past six years and currently sits at just 7.6 percent.

The CBRE South Florida Capital Markets team also included Vice President Amy Julian, Senior Vice President Chris Gallagher and Financial Analyst Tyler Ploshnick.

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Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

Full Sized Blog Element (Big Preview Pic)

Avison Young Fills 60,000 SF At Office Tower In Cypress Creek Market

Sawgrass Pointe I In Sunrise Sells For $51.1 Million

“Sawgrass Pointe I’s location and high-quality modern design make the property extremely attractive to both tenants and investors. Consequently, demand within the investor community was robust,” explained Christian Lee, vice chairman, CBRE Capital Markets.

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