The lease is valued at $7.7 million. CLICK ON THE HEADLINE FOR MORE
Palm Beach Gardens/North Palm Beach made huge strides, leasing over 100,000 square feet year to date and absorbing over 35, 000 square feet. CLICK ON THE HEADLINE FOR MORE
Richline Group Inc., a Berkshire Hathaway company, has agreed to a 10-year renewal on 90,000 square feet at 6701 Nob Hill Road. Broker Thomas Viscount, who represented Denver-based landlord Industrial Income Trust Inc., announced the transaction Friday.
The lease is valued at $7.7 million, according to Viscount, senior vice president at Butters Realty and Management LLC of Coconut Creek.
Formed in 2007, Richline manufactures and distributes necklaces, bracelets, earrings, rings and other items to thousands of jewelry outlets, according to its website. In addition to the Tamarac facility, the company has offices in Burbank, California, New York and Warwick, Rhode Island.
Jones Lang LaSalle Inc. senior vice president Nick Wigoda represented Richline.
Source: DBR
West Palm Beach struggled last quarter but has made the turn showing positive absorption, the majority of which was in the suburban markets, according to a report by KRES Commercial.
Palm Beach Gardens/North Palm Beach made huge strides, leasing over 100,000 square feet year to date and absorbing over 35, 000 square feet.
The Jupiter/Juno Beach market, however, continues to make positive strides, becoming the healthiest office submarket in South Florida. Net absorption was another 1% for the quarter, bringing the total vacancy rates down to 6%, with true absorption numbers equal to the larger Palm Beach Gardens market at 31,000 square feet, year to date.
Butters Inks 90,000 SF Renewal
/in Done Deals, News/by SFOBA STAFFThe lease is valued at $7.7 million. CLICK ON THE HEADLINE FOR MORE
Jupiter/Juno Tops South Florida Office Market, West Palm Turning Corner
/in News/by SFOBA STAFFPalm Beach Gardens/North Palm Beach made huge strides, leasing over 100,000 square feet year to date and absorbing over 35, 000 square feet. CLICK ON THE HEADLINE FOR MORE