Tag Archive for: bayview corporate tower

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.

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.

Berger Commercial Realty/CORFAC Brokers Lease To Secure Second Health Insurance Company Fort Lauderdale Location

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USA Medicare Advisors Insurance Agency, LLC will open its second location in Fort Lauderdale thanks to a new lease brokered by Berger Commercial Realty/CORFAC International for landlord ROC III Fairlead Bayview Corporate Center, LLC.

Berger Senior Sales Associate Jonathan Thiel handled the transaction, which will provide 8,300 square feet of office space throughout a six-year lease for the health insurance company in the 412,520-square-foot, 12-story Bayview Corporate Tower at 6451 North Federal Highway.

BayView Corporate Tower

“The extensive amenities and renovations to the building, in addition to the accessible location, and ample and secure parking have proven very attractive to businesses looking to attract top talent,” Thiel said.  “We used thoughtfulness and creativity to make this deal the right fit for our tenant.”