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Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

September 12, 2016/in Done Deals, News/by SFOBA STAFF

The property’s location is surrounded by new multi-family and retail developments that are transforming the Park at Broken Sound into a Live-Work-Play community. CLICK ON THE HEADLINE FOR MORE

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

September 6, 2016/in Done Deals, News/by SFOBA STAFF

Criddle and Freitas represented ICM Realty Group in securing the new leases. CLICK ON THE HEADLINE FOR MORE

Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

September 12, 2016/in Done Deals, News/by SFOBA STAFF

The property’s location is surrounded by new multi-family and retail developments that are transforming the Park at Broken Sound into a Live-Work-Play community. CLICK ON THE HEADLINE FOR MORE

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

September 6, 2016/in Done Deals, News/by SFOBA STAFF

Criddle and Freitas represented ICM Realty Group in securing the new leases. CLICK ON THE HEADLINE FOR MORE

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Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

September 12, 2016/in Done Deals, News/by SFOBA STAFF

Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) Senior Director Douglas K. Mandel, along with National Office and Industrial Properties Group Associate Timothy P. Thomas facilitated a joint venture management restructure for Sabre Centre I, a 102,351-square-foot office building located at 5901 Broken Sound Parkway, within the evolving and highly desirable Park at Broken Sound in Boca Raton.

“Sabre Centre I provided G&C Sabre Investors LLC with the opportunity to partner on a value-add trophy office asset in one of the region’s most highly sought-after submarkets.” commented Mandel.

Mandel

Sabre Centre I is the sister building to Sabre Centre II and was the former HQ for Siemens Corporation. The building sits on approximately six acres of land and was approximately 60 percent occupied. Tenants range from various industries such as financial services and sports nutrition.

The property’s location, just north of Yamato Road and less than 2 miles from Interstate 95, is surrounded by new multi-family and retail developments that are transforming the Park at Broken Sound into a Live-Work-Play community. Formerly known as the Arvida Park of Commerce, and often referred to as the “Grande Dame” of South Florida office parks, the Park at Broken Sound contains 5.2 million square feet of office space spread across

Thomas

700 acres of beautiful lakes, waterways, and open green space with walking trails.

Mandel and Thomas represented both parties in the JV.

The deal was finalized August 15th.

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

September 6, 2016/in Done Deals, News/by SFOBA STAFF

Cushman & Wakefield leasing agents John Criddle and Joseph Freitas have leased more than 83,000 square feet of space at Cypress Executive Center.

Criddle and Freitas represented ICM Realty Group in securing new leases with Delphi Behavioral Health Group, Wells Fargo Bank and Royal Seas Cruise Lines and secured lease renewals with Whiting-Turner Contracting Company and Humana Medical.

Cypress Executive Center is a six-story, 140,635-square-foot, Class A office building located in the heart of Cypress Creek at 1901 West Cypress Road.

ICM purchased Cypress Executive Center in early 2015 and has since successfully repositioned the building into a Class A property via an aggressive building renovation program. Improvements include the complete renovation of the building lobby, common areas, rest rooms and exterior landscaping, plus newly added amenities including a tenant wi-fi lounge, café and conference facility.

“We’re seeing tremendous interest in Cypress Executive Center driven by both ICM’s capital investments and prevailing market trends, which are driving demand in non-CBD markets like Cypress Creek,” said Criddle.

According to Cushman & Wakefield research, a tightening downtown Fort Lauderdale office market has boosted suburban demand. Coupled with significant regional employment gains, the Broward County office market stands to see significant gains in the coming months.

“As the Downtown CBD becomes less of an option due to limited space, many suburban markets that have not peaked will become more attractive to those forced out of downtown due to the high asking rental rates and restricted space availability,” wrote Senior Research Analyst Valerie Tatum in the firm’s 2Q 2016 Broward County Office MarketBeat report. “With limited construction in the pipeline, Cushman & Wakefield anticipates market fundamentals to tighten through the back end of 2016.”

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Half Sized Blog Element (Multi Author Style)

Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

Full Sized Blog Element (Big Preview Pic)

Douglas K. Mandel, Timothy P. Thomas Negotiate Joint Venture For Class A Office Property In Boca Raton

C&W’s Criddle, Freitas Negotiate 83,000 SF In Lease Deals At Cypress Executive Center

“We’re seeing tremendous interest in Cypress Executive Center driven by both ICM’s capital investments and prevailing market trends, which are driving demand in non-CBD markets like Cypress Creek,” said Criddle.

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