Tag Archive for: bank of america plaza

Boca’s Bank Of America Office Building Plans Expansion

/in /by

Grover Corlew is looking to add more office and restaurant space to downtown Boca Raton through a redevelopment of Bank of America Plaza at 150 E. Palmetto Park Road.

Plans recently submitted to the city call for changes to the 1.65-acre property, which is currently improved with an eight-story, 115,553-square-foot office building dating to 1969. The proposal would remove a 21,414-square-foot portion of the structure along Mizner Boulevard and replace it with a new eight-story addition totaling 71,112 square feet.

The expansion would bring the property to 162,537 square feet. In addition to new office space, the project would introduce nearly 7,000 square feet of restaurant space at ground level, along with 1,680 square feet of covered outdoor dining and a rooftop amenity area. The plans also include a robotic underground parking system with 90 spaces.

Grover Corlew’s leadership framed the proposal as part of a broader push to strengthen Boca Raton’s downtown as a destination for both employers and workers. The concept emphasizes a more active street presence, with dining and retail intended to make the property function as more than a traditional office building.

The project is still early in the city review process. HdA Architects, based in Boca Raton, is designing the redevelopment, and attorney Ele Zachariades is representing the developer in the application.

The proposal comes as Boca Raton’s eastern office market continues to balance new development with available space. Colliers reported a first-quarter office vacancy rate of 12.8% in Boca Raton East, with Class A vacancy notably higher at 22%. Average asking rents for Class A offices were reported at $58.28 per square foot, while roughly 144,000 square feet of office product was under construction in the submarket, much of it tied to the Aletto project now rising downtown.

 

Source:  SFBJ

CBRE Relocates Ft. Lauderdale Office, Signs 13K SF Lease

/in , /by

CBRE announced plans today to relocate its Fort Lauderdale office to a new 12,993-square-foot space on the 15th floor at Bank of America Plaza, a 23-story office building also known as Las Olas City Centre in downtown Fort Lauderdale.

Part of CBRE’s global “Workplace360” initiative, the new office at 401 East Las Olas Blvd. will feature both state-of-the-art technology and design that enhances workplace experience and seamlessly connects employees. CBRE plans to complete its relocation in Q3 2019.

CBRE’s Workplace360 initiative promotes flexible and mobile working with enhanced technology and features a balance of workplace settings, including both collaborative and private spaces that employees can self-select to accommodate their hour-by-hour needs.

“At CBRE, we pride ourselves in knowing how to enhance the workplace experience to drive business change,” said Scott Correale, Managing Director at CBRE. “We have seen the success of our Workplace360 Miami office, and we are excited to bring this innovative initiative to Fort Lauderdale. Our new office will create a more collaborative culture for our employees in a sustainable environment, and we know it will have a meaningful impact in attracting and retaining top talent.”

“Our new office will showcase a new way of working to our clients, and we are excited to invite them to our new space. They will experience cutting-edge solutions to help inform their decision-making process as they consider their future workplace needs,” said Zach Wendelin, Senior Vice President at CBRE, who represented the firm in the lease transaction.

CBRE is leveraging its in-house Workplace and Project Management services to implement the project from initiation through move-in. Employee committees will participate in decision-making to create a unique office experience that caters to individual health and wellness, while also reflecting the excellence of the CBRE brand and corporate culture.

“From productivity and wellness, to engagement and recruitment, the workplace directly contributes to business results. Better business performance begins with better workplace performance, and at CBRE, we practice what we preach,” said Cicily Scharlach, program manager for CBRE’s Workplace360 initiative. “By driving greater collaboration and productivity, and improving our business agility, our newest Workplace360 office will be an environment where our employees will feel engaged and thrive.”

CBRE will move from its current offices at 200 East Las Olas Boulevard.