Tag Archive for: 6451 N. Federal Highway

Cushman & Wakefield’s Deanna Lobinsky, Chase Kulp Arrange Two Office Leases Totaling 20,198 Square Feet

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Cushman & Wakefield has arranged two leases at BayView Corporate Tower in Ft. Lauderdale.

Combined, the leases total 20,198 square feet.

Deanna Lobinsky and Chase Kulp of Cushman & Wakefield represented Somerset Properties, a full-service real estate company that operates in the eastern United States which owns and manages the building, in the lease negotiations.

“The leasing activity we have experienced during the pandemic reaffirms our commitment to market-leading properties like Bayview in top tier markets throughout Florida,” said Jennifer Wierman, a Principal at Somerset Properties. “It also reinforces our core philosophy of treating our tenants like partners and striving to make each lease a ‘win-win’ result for all parties involved.”   

A global manufacturing company signed a long-term 15,913-square-foot lease and Oakmont Public Adjusting, a loss consulting and public adjusting firm, signed a 4,285-square-foot lease.

“These transactions were negotiated amid COVID-19, which shows the significance of having top-tier amenities in desirable locations,” Lobinsky said. “These factors will remain a driver for tenants as the end of the pandemic nears and tenants begin to focus on where and how their employees will work.”

Located at 6451 N. Federal Highway in Ft. Lauderdale, BayView Corporate Tower totals 412,250 square feet. The property features a state-of-the-art tenant amenity center with a conference facility, fitness center and modern café and lounge, as well as covered parking, on-site security and on-site management.

Recent improvements include renovated lobby, common areas exterior and landscaping. BayView is accessible to the entire region by way of Interstate 95, Florida’s Turnpike, Interstate 595 and is minutes from Fort Lauderdale/Hollywood International Airport.

In addition to being real estate investors, Somerset Properties provides a full complement of services for owned and managed properties including leasing, property management, construction management, asset management and financial analysis. Since the firm’s inception in 1996, it has acquired and repositioned over 100 properties with a gross asset value upon stabilization of roughly $1 billion.

The South Florida Office Agency Leasing team also includes Travis Herring, Katherine Ridgway and Jessica Gomez. The team completed some of Broward County’s largest deals in 2020 with 36 transactions totaling 259,765 square feet of leases.

C&W’s Holding, Belt & Jolley Close 68,000 SF Of Office Transactions

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Cushman & Wakefield’s Broward County Office Tenant Representation team of Jeff Holding, A.J. Belt, and Christina Jolley arranged 10 office transactions in the second quarter totaling 68,024 square feet.

“We are experiencing a once-in-a-lifetime pandemic, yet our clients continue to focus on the future beyond Covid-19, realizing companies still need to maintain an office presence,” Belt said.

The team’s largest transactions during the second quarter are as follows:

  • The team represented Kovack Securities in a 16,769-square-foot renewal at 6451 N. Federal Highway in Fort Lauderdale
  • The team represented a national financial services client in a 14,203-square-foot renewal at 350 E. Las Olas Boulevard in Fort Lauderdale
  • The team represented Perspective One, LLC, in its acquisition of an 11,970-square-foot office building located at 312 SE 17th Street in Fort Lauderdale
  • The team represented Nordic Aviation Capital, Inc in a 10,000-square-foot sublease at 401 E. Las Olas Boulevard in Fort Lauderdale to Ubicquia, LLC
  • The team represented Kubicki Draper on an 8,571-square-foot renewal 13350 Metro Parkway in Fort Myers

“Because of the added unknowns due to the pandemic, demand for our team’s tenant advisory services are at an all-time high as clients seek strategic answers in solving for the future of the office while insuring that they are able to capture the most advantageous economic and flexible terms available in tomorrow’s office market,” Holding added.

 

Bridge Completes Sale of Class A Office Tower in Ft. Lauderdale

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Bridge Investment Group LLC’s (Bridge) subsidiary Bridge Office Fund Manager (Bridge Office) has completed the sale of Bayview Corporate Tower, a 12-story, 413,833-square-foot Class A office building and five-story covered parking garage located at 6451 N. Federal Highway in Fort Lauderdale.

Bridge acquired the asset in September 2016 and has executed more than 265,000 total square feet of leasing agreements since, including approximately 235,000 square feet within the past 18 months. Notable tenants include CHG Healthcare, Whole Foods Market, CentralReach, Envision Pharm Group and Kovack Securities. More than 50% of the building’s executives reside within minutes of the property.

The property underwent a $5 million repositioning plan. Recently renovated areas include the lobbies common areas and move-in ready office suites as well as the addition of a new amenity lounge and game room, health club-level fitness center, onsite café and outdoor picnic area.

“The successful disposition of Bayview Corporate Tower reflects Bridge’s keen understanding of the Fort Lauderdale market and next-generation workspaces today’s tenants are looking for, which has taken on even greater importance in the new post-COVID era we are now entering,” said Kelly Kuykendall, director of Asset Management at Bridge Investment Group. “The building’s spacious floor plans enable the type of flexible workspace now essential for many businesses, and the high quality of capital improvements positions the property for long-term prosperity as one of Broward County’s most desirable workplace communities.”

Dominic Montazemi, Mike Davis, Rick Brugge, Rick Colon, Scott O’Donnell, Greg Miller, Mike Ciadella and Miguel Alcivar of Cushman & Wakefield represented Bridge in the transaction.

Following the disposition, Bridge’s Florida portfolio includes eight additional properties, including the 101,405-square-foot 5601 Hiatus Road and the 514,330-square-foot Sawgrass Technology Park in Broward County, the 241,750-square-foot Fountain Square in Boca Raton and 775,000 square feet across three assets in Miami-Dade County.

CBRE Tapped To Lease Broward’s Largest Office Building

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CBRE has been selected as the exclusive leasing agent for BayView Corporate Tower, the largest office building in Broward County.

Owned by New Boston Fund, a private equity real estate investment, development and management firm based in Boston, the 412,520-square-foot, 12-story building is located at 6451 N. Federal Highway in Fort Lauderdale. New Boston Fund acquired the property in early 2008 for a reported $63 million.        

“BayView Corporate Tower offers its Cypress Creek neighborhood a rare opportunity to have an exclusive office address close to home,” said CBRE Senior Vice President Deanna Lobinsky. “Additionally, with newly renovated interior and exterior spaces and four new spec suites awaiting their first tenants, it still offers some of the most competitive rental rates in the region, especially when compared with occupancy costs downtown.”

BayView Corporate Tower offers suites ranging in size from 1,400 to 77,000 square feet. The building features large floor plates of up to 33,000 square feet with many upper level offices having ocean views.

“We are very pleased to be working with the team from CBRE to help us to continue to position the property at the forefront of the market,” said Pamela Adamian, Vice President of Asset Management at New Boston Fund. “The location, amenities and available space are a major draw for quality tenants.”

Just minutes to I-95, the Energy Star-rated property is close to dining, banking and retail. Prominent tenant signage on both the top of the building and along Federal Highway is available.

BayView has received multiple “Office Building of the Year” honors from The Building Owners and Managers Association (BOMA) and an Energy Star rating every year since 2008.

CBRE’s Jarred Goodstein and Avi Fisher are collaborating with Lobinsky in representing BayView Corporate Tower.