Tag Archive for: 6400 building

PEBB Enterprises Closes Office Property Sale In Fort Lauderdale’s Cypress Creek

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PEBB Enterprises completed the disposition of the 6400 Building in Fort Lauderdale’s Cypress Creek neighborhood.

The $11.93 million transaction closed on Dec. 17.

JS Florida Ventures, LLC and HS Florida Ventures, LLC purchased the 55,241-square-foot office building at 6400 N. Andrews Ave. The building is 89% leased and is situated adjacent to a Marriott hotel and in close proximity to I-95.

Cypress Creek is a highly desirable office submarket due to its central location, connectivity to major highways and critical mass of retail and dining.

“This sale concludes a successful long-term investment for our company, as we owned the asset for more than 20 years,” PEBB CEO Ian Weiner said. “We are actively pursuing several new office acquisition opportunities in South Florida, and this was the right time to execute the 6400 Building disposition. PEBB remains bullish about the region’s office market and continues to target opportunities aligned with its long-term strategy of acquiring well-located commercial assets with repositioning and/or redevelopment potential.”

Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar represented PEBB in the 6400 Building sale.

PEBB’s portfolio of office assets includes, among others, The Eclipse (formerly known as the Office Depot headquarters), in partnership with BH Group, and the Research Park at FAU, in partnership with Banyan Development. Those properties are representative of several office assets that the company owns in its home base of Boca Raton and throughout South Florida.

Blanca CRE Expands South Florida Office Portfolio Into Boca Raton, Greater Fort Lauderdale

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Blanca Commercial Real Estate announced its expansion in Boca Raton as the exclusive leasing agent for three PEBB Enterprises office properties in Boca Raton and Greater Fort Lauderdale’s Cypress Creek submarket. This new office portfolio marks Blanca CRE’s agency leasing team’s Boca Raton debut and enhances its already significant role in advising investors and developers across the South Florida region.

Totaling more than 200,000 square feet, the properties are located in two of South Florida’s most sought-after business hubs, where demand for office space continues to grow.

“Boca Raton and Greater Ft. Lauderdale remains a magnet for companies in finance, healthcare, research and technology,” said Christina Stine Jolley, Senior Vice President at Blanca Commercial Real Estate. “Our expanded presence into Boca Raton and continued growth in Greater Fort Lauderdale are made possible by our commitment to strategic investments designed to support our clients—as well as our growing, dedicated and collaborative brokerage and property management team—with innovative strategies, tools, and proprietary data .”

The PEBB Enterprises portfolio properties awarded to Blanca CRE include:

  • Boca Corporate Plaza, 7900 Glades Road, Boca Raton, FL 33434
    • Size: 88,763 SF, 6 stories
    • Key Tenants: PEBB Enterprises (owner), Caulfield Wheeler, Kogan & DiSalvo, Ulysse    Nardin, and several legal and financial services firms
  • Eighteen Zero One, 1801 North Military Trail, Boca Raton, FL 33431
    • Size: 61,188 SF, 3 stories
    • Key Tenants: Morgan Stanley, Cozen O’Connor, Newmark, First Horizon Bank
  • 6400 Building, 6400 North Andrews Avenue, Fort Lauderdale, FL 33309
    • Size: 54,697 SF, 5 stories
    • Key Tenants: RingCentral, SaferWatch, and a diverse mix of medical, legal, and professional services firms

“Our expansion to include Boca Raton and further our reach into the Greater Fort Lauderdale area represents a significant milestone for Blanca Commercial Real Estate as we continue to grow our presence in South Florida’s most dynamic business hubs,” said Tere Blanca, Chairman, Founder and CEO of Blanca Commercial Real Estate.

 

“Partnering with PEBB Enterprises is another example of Blanca CRE’s long-standing commitment to building long term relationships with our clients and to deliver exceptional outcomes on their behalf. The Boca Raton and Greater Ft. Lauderdale office sectors are continuing to prove the appeal this region has as a destination for various business sectors,” she said. 

PEBB Enterprises’ Boca Raton and Cypress Creek assets continue to attract companies drawn by these markets’ deep talent pool, accessibility, academic partnerships, and exceptional connectivity.

The leasing team overseeing these assignments includes Christina Stine Jolley,  Senior Vice President and Broward Market Leader, Andrew Ackerman, Senior Vice President, and Chris Gallagher, Senior Vice President at Blanca CRE.