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Fort Lauderdale Office Building Nearly Fully Leased

November 27, 2022/in Done Deals, News/by SFOBA STAFF

Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, Tampa-based Vision Properties, in the negotiations. CLICK ON THE HEADLINE FOR MORE

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

November 20, 2022/in Done Deals, News/by SFOBA STAFF

The national boating supply company created significant jobs and invested $800,000 of capital investments in the buildout of its 50,000 square foot space.

Fort Lauderdale Office Building Nearly Fully Leased

November 27, 2022/in Done Deals, News/by SFOBA STAFF

Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, Tampa-based Vision Properties, in the negotiations. CLICK ON THE HEADLINE FOR MORE

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

November 20, 2022/in Done Deals, News/by SFOBA STAFF

The national boating supply company created significant jobs and invested $800,000 of capital investments in the buildout of its 50,000 square foot space.

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Fort Lauderdale Office Building Nearly Fully Leased

November 27, 2022/in Done Deals, News/by SFOBA STAFF

A renovated 1980s-era Fort Lauderdale building is almost entirely occupied following the closure of five recent lease deals.

Cypress Financial Center at 5900 N. Andrews Ave. is now 92% leased, according to a release from the brokerage Cushman & Wakefield. Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, Tampa-based Vision Properties, in the negotiations.

Signature Consultants, an IT consulting firm, will be moving from its current office at 200 West Cypress Creek Road into a 7,038-square-foot space in the Cypress Financial Center in March 2023. Peter Reed of Commercial Florida Realty Services represented Signature Consultants in the lease negotiations.
Alpine, a division of Illinois Tool Works, will be relocating from another building in Broward County into a 6,065-square-foot space within Cypress in April 2023. A designer and manufacturer of roof, floor, and wall components, Alpine was also represented by Cushman & Wakefield.

The other three lease deals are with existing building tenants.

Prime Education, a research and education company, signed a new lease for the 5,817-square-feet of space it now occupies. The company had previously subleased the space from another tenant but the new lease is through landlord Vision Properties. Prime Education was represented by Mitchell Millowitz of Newmark.
Perfume manufacturer and distributor Parlux negotiated directly with Herring and Ridgway to renew the lease of its 2,062-square-foot office.
Scott Friedman, vice president of project management for The Morgan Companies, a full service commercial real estate firm, negotiated on behalf of his company to renew its 1,394-square-foot office lease.

South Florida office rents have been trending upward since the height of the pandemic as new-to-market and local companies seek out quality office space. In the third quarter of 2023, Broward County, office rents for Class A and Class B buildings averaged $37.84 a square foot, an increase of 2.9% from last year, a recent from Cushman & Wakefield stated. Within the Cypress Creek/Commercial Corridor rents averaged $34.09 a square foot.

Built in 1988, the 11-story Cypress Financial Center was purchased by a subsidiary of Vision Properties for $44.2 million in January 2021 after a previous deal to acquire the building by another real estate company fell through. The building has since been renovated and includes a cafe, a parking garage, on-site security, and “exclusive on-ramp access to Interstate 95 Southbound,” Cushman & Wakefield stated.

The limited office space available in the Cypress Financial Center is advertised at $24 a square foot on LoopNet.com. That rental rate does not include utilities, property expenses or building services.

Source: SFBJ

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

November 20, 2022/in Done Deals, News/by SFOBA STAFF

NAI/Merin Hunter Codman, the property leasing and management company of 1 East Broward, an iconic 19-story, 350,000-square-foot office building in Fort Lauderdale, welcomed West Marine, the nation’s leading retailer for the sailing, boating, fishing and watersports markets, to its new 50,000-square-foot corporate headquarters at 1 East Broward.

1 East Broward, one of Fort Lauderdale’s leading Class A office buildings, is centrally located on the northeast corner of Broward Boulevard and Andrews Avenue, just a short walk from Fort Lauderdale’s many amenities including the Brightline Train station, the fast-growing Flagler Village residential neighborhood, and Las Olas Boulevard.

West Marine’s relocation of their corporate headquarters from Santa Cruz, California to Fort Lauderdale will create approximately 225 corporate jobs over time and tallied an $800,000 capital investment into the property and community according to the Greater Fort Lauderdale Alliance. Thursday, October 27^th marked the ribbon cutting ceremony at their new 1 East Broward headquarter location. Ribbon cutting attendees included West Marine Chief Executive Officer Eric Kufel and Chief Commercial Officer Stacey Renfro, as well as Broward County Mayor Michael Udine, Greater Fort Lauderdale Alliance President and CEO Bob Swindell, Fort Lauderdale Chamber President and CEO Dan Lindblade, and top members of Downtown Fort Lauderdale. Mr. Kufel along with the City of Fort Lauderdale’s Vice Mayor Sorensen, and City Commissioner, District 2 Steven Glassman cut the ribbon at the ceremony.

The city of Fort Lauderdale, which has over 300 miles of inland waterways and is home to about 50,000 yachts, is known as the Yachting Capital of the World. It’s no wonder this South Florida city attracted West Marine.

West Marine CEO, Eric Kufel, recently stated, “Our relocation to Fort Lauderdale means we can better serve the sailing and boating communities. We want to be where the boaters are, not only to support the existing community, but welcome newcomers to the industry.”

NAI/Merin Hunter Codman Chief Executive Officer Jordan Paul stated, “We are thrilled that West Marine has chosen 1 East Broward for its corporate headquarters. West Marine is an iconic brand that meshes perfectly with the outdoor lifestyle that makes Fort Lauderdale a unique city to live, work and play. We are honored that West Marine has selected 1 East Broward as its new corporate home and look forward to working with them for many years as they continue to grow their market leading business.”

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Fort Lauderdale Office Building Nearly Fully Leased

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

Fort Lauderdale Office Building Nearly Fully Leased

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

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Fort Lauderdale Office Building Nearly Fully Leased

West Marine Relocates HQ From Cali, Inks 50,000 SF Lease Deal

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