Tag Archive for: bansi properties

189,000-SF Broward Office Building Back In Play

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A 189,000-square-foot office building in Sunrise is being offered to prospective tenants, adding another large block of available space to Broward County.

Chetu Inc., a global software development company headquartered in Sunrise, has retained Avison Young brokers Justin Cope, Greg Martin and Lisa Blumer to market the five-story building at 1500 Concord Terrace. The property sits within the 22-acre Sawgrass International Corporate Park, a location near Sawgrass Mills and the broader Sawgrass business district.

Chetu currently occupies one full floor totaling about 36,000 square feet. The remaining four floors have reportedly been vacant for several years, creating a rare opportunity for a tenant seeking a full-building presence or a large contiguous office footprint. The owner has indicated it would consider relocating if a user wanted to lease the entire property.

The space is being marketed at roughly $30 per square foot on a triple-net basis and is described as fully built out and immediately available. The property also includes a 7,500-square-foot data center on the first floor, which could appeal to users with technology, operations or infrastructure needs.

Chetu has said it is not leaving the market and remains in growth mode. A company spokesperson stated that the firm is expanding and hiring.

The building is owned by Bansi Properties, the real estate development company led by Chetu CEO Atal Bansal. Bansi Properties acquired the asset for $25 million in 2021, with plans at the time for Chetu to anchor the building while leasing the balance to outside tenants.

The Sunrise property followed Chetu’s earlier development of a 63,000-square-foot headquarters in Plantation, which opened in 2019. The company later said its growth required additional space. Bansi Properties also secured a long-term IRS lease at the Plantation building for the agency’s Broward County office.

The listing comes as Chetu continues to deal with legal fallout from customer disputes. In October, the company was ordered to pay more than $500,000, including punitive damages, in a fraud case involving a Washington state barbershop chain that alleged the company failed to deliver promised software while continuing to collect fees. Chetu appealed the decision in January.

Source: Bisnow

Developer Announces Construction Plans For New Office Campus In Sunrise

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Developer Bansi Properties announced its plans for the creation of a new office campus and state-of-the-art office building in Sawgrass International Corporate Park. The facility, which will be one of the newest, leading office spaces in Sunrise, is scheduled for completion in 2023.

Located in Sawgrass International Corporate Park, one of Broward County’s largest office parks, Bansi Properties’ proposed office campus will be situated on 22 acres of land with current plans including two large-scale office facilities available for lease. Comprised of 1500 Concord Terrace – the company’s latest-acquired, 180,000 square-foot property – the campus will be adding a new four-floor, 140,000 square-foot office facility.

Designed by leading South Florida architectural firm FSMY, the building will feature a modern design with ample glass and natural light; large, efficient floor plates; design-build interiors; Energy Star and LEED-certified materials and designs; and the latest technological innovations. Additionally, the building will be strategically located right off the Sawgrass expressway for quick and easy commuting, as well as near the Sawgrass Mills Mall and other major retail destinations.

“South Florida continues to be a destination for businesses from all industries, and we are excited to be involved in developing and providing the facilities that these organizations need to operate in the modern era,” said Atal Bansal, CEO of Bansi Properties. “We are confident that our latest office campus and new building will be setting the tone for continued development and investment in the region for a long time to come. Our current growth is on a beautiful trajectory and with this new property addition, our South Florida portfolio will grow to 400,000 square feet of leasable area.”

Bansi Properties’ future office space is projected to be completed in 2023 and will be able to accommodate a large variety of clientele with single tenant potential. Leasing is being managed exclusively by Newmark’s Jay Adams.