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The 775,000-square-foot Design Center of the America is undergoing major renovations to further enhance the Class A Corporate Center.

The several million dollars investment includes new corridors, restrooms, elevators, state of the art lighting, a complete renovation of the atriums, monument signage for office space, additional windows, new landscaping and a complete transformation to the image and branding of The Design Center of Americas.

The new leasing strategy is a big change, converting up to 250,000 square feet of the third and fourth floor space in Buildings A and B into offices and keeping Building C only showrooms. A strategy of mixed-use will complement the current showroom mix and leverage the high name recognition of the property because of its proximity to Interstate 95.

Recent transactions at the Office Center include a 17,000 square foot office lease to Avis Rent A Car to a 17,000-square-foot office lease, as well as deals with Hull and Company and the Miami Board of Realtors.

Charles Cohen, president and CEO of DCOTA owner Cohen Brothers Realty Corp., is currently in negotiations to lease an additional 70,000 square feet to four prospective office tenants.

DCOTA, located 1815 & 1855 Griffin Road in Dania Beach, offers a unique corporate environment with ease of access to all major expressways and the Fort Lauderdale Airport, with aggressive lease rates, ample free parking and a turnkey delivery. Available spaces range from 2,000 square feet to 100,000 square feet.

For more information please contact Viktoria Telek, CCIM, Office Leasing Director at 954.628.5534.

By Eric Messer

Broward County has the lowest vacancy rate reported in South Florida.

However, the area’s strong ties to the residential sector is expected to hinder sizeable job growth through the coming year.

No significant shifts are expected for the office sector in Fort Lauderdale and its suburban submarkets. A balance between demand and supply will likely continue through the majority of 2012.

Renewals and relocations will continue to dominate transaction activity as tenants in the market take advantage of space opportunities.

Conversely, the Palm Beach market holds the highest vacancy rate throughout Florida.

The market continued its leveling recovery as sluggish economic growth and lackluster improvements in the housing sector hinder significant expansions in employment. The office sector has seen moderate declines in vacancy since the 23.8 percent peak in first quarter of 2010.

To view the reports in their entirety, click on the links below:

4Q11 Broward Office Market Trends Report

4Q11 Palm Beach Office Market Trends Report

Eric Messer is Research Services Manager for Grubb & Ellis Company in Boca Raton. He can be reached at eric.messer@grubb-ellis.com.

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DCOTA Undergoing Multi-Million Dollar Renovation

Broward And Palm Beach At Opposite Ends Of Vacancy Spectrum

DCOTA Undergoing Multi-Million Dollar Renovation

Broward And Palm Beach At Opposite Ends Of Vacancy Spectrum

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DCOTA Undergoing Multi-Million Dollar Renovation

Broward And Palm Beach At Opposite Ends Of Vacancy Spectrum

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