Tag Archive for: cbre

The Atrium At Broken Sound Snags 4 New Tenants

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Four companies signed leases for a total of 16,722 square feet of office space in The Atrium at Broken Sound in Boca Raton.

Built in 1986 at 6111 Broken Sound Parkway NW and renovated in 2020, the three-story property totals 100,668 square feet. It is owned by New York-based Alchemy-ABR Investment Partners and Miami-based Breakers Capital Partners.

John Criddle, Joe Freitas and Jeffrey Kelly of CBRE represented Alchemy and Breakers in the lease negotiations.

The four businesses that will move into The Atrium are:

  • Crossroads Financial, a Boca Raton-based firm that provides credit for small retail and e-commerce businesses. It signed a seven-year lease for a 5,152-square-foot space on the second floor. Max Pawk of CBRE represented Crossroads Financial.
  • Virtue RX, a distributor of veterinary pharmaceuticals. It signed a lease for 2,084 square feet on the second floor. Virtue was represented by Ingrid Fulmer of Coldwell Banker Commercial NRT.
  • Nylene, a New Jersey-based distributor and manufacturer of polymer fabrics. It will occupy a 1,795-square-foot office on the second floor.
  • Cresa Global, a newly established branch office of the Chicago-based tenant representative brokerage. Bob Schneiderman, managing principal of Cresa Global, represented his office in the lease negotiations.

In addition to the new leases, department store Marshalls, a subsidiary of the TJX Cos. (NYSE: TJX), renewed its lease on a 5,946-square-foot space on the third floor for five more years.

Alchemy and Breakers acquired the Atrium at Broken Sound for $21.4 million in November 2018. Available office space is being advertised for $24.50 a square foot on LoopNet.com.

Source:  SFBJ

CBRE Named Exclusive Leasing Agent For Plantation Office Building

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Brookwood Financial Partners, LLC has appointed CBRE as the exclusive leasing agent for Lakeside Office Center, a 134,443-square-foot Class A office building located at 600 N. Pine Island Rd. in Plantation.

Brookwood Financial Partners, LLC is a nationally recognized private equity real estate who has invested over $1.9 billion of equity to acquire a portfolio of 200 commercial real estate properties, seven operating companies, and 452 gas stations with convenience stores, with a total capitalization of over $4.5 billion.

“As we continue to invest in Lakeside Office Center, we are partnering with CBRE to rebrand and reposition the property to attract today’s office users. Over the next 12 months we will implement a speculative suite program, upgrades to the lobby, amenity and outdoor areas including additional seating, enhanced Wi-Fi, and collaboration spaces,” said Thania Potosme, Vice President and Asset Manager at Brookwood Financial Partners, LLC.

John Criddle, Joe Freitas and Max Pawk with CBRE will be marketing the property for lease on behalf of Brookwood Financial Partners, LLC. The current vacancy is 37,582 square feet with spaces ranging from 1,500 square feet to 14,760 square feet of contiguous space available for lease.

Built in 1986, Lakeside Office Center is a five-story office building featuring a two-story glass atrium, a conference center, on-site security, and newly constructed, covered parking garage that is shared with the adjacent multifamily project. The property is located approximately 2.5 miles north of the Pine Island exit on Interstate 595, providing tenants with a central location and easy access to Downtown Fort Lauderdale, airports, and other major highways, including the Sawgrass Expressway, Interstate 75, the Florida Turnpike, and Interstate 95.

“Lakeside Office Center is one of a few office properties in the Plantation submarket that provides a true live-work-play environment with walkability to nearby restaurants, banking, retail, and housing. The property is adjacent to multiple new upscale multifamily residences, including Veranda Shoppes, The Remy Apartments, The Manor in Plantation, and the under-construction Plantation Midtown Square project, which will bring more retail and restaurant options. In addition to the surrounding amenities, Brookwood’s capital improvement plan will elevate the property even further and continue to attract office users,” said CBRE First Vice President Joe Freitas.

 

CBRE, HS Capital Facilitate Over 15,000 SF Of Leases At Cypress Corporate Center In Fort Lauderdale

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CBRE has arranged over 15,000 square feet of leases at Cypress Corporate Center, a 140,635-square-foot Class A office building located in Fort Lauderdale’s Cypress Creek submarket.

Gordon Messinger with CBRE represented the landlord, HS Capital, in the lease negotiations.

America’s Consumer Advocacy (ACA) Group, a legal professional services organization, leased 5,691 square feet of office space on the 4th floor and will occupy the building in January 2023. The new office marks the group’s second location in South Florida, and it will employ approximately 15 people with plans to double in headcount. The Easton Group’s Jake Weiss represented ACA Group.

Additionally, Humana, one of the largest health insurance providers in the nation, has renewed their 9,663-square-foot lease at Cypress Corporate Center. Cushman & Wakefield’s AJ Belt represented Humana.

“HS Capital has made a major financial commitment to enhancing Cypress Corporate Center. The property provides employers the best value play in the Cypress Creek submarket with high visibility, the best parking ratio in submarket, and a location drawing in talent from across Palm Beach, Broward and Miami-Dade counties,” said Messinger, CBRE Executive Vice President.

Cypress Corporate Center is a six-story office building located at 1901 W. Cypress Creek Road. HS Capital recently acquired the building and has completed renovations, which include updates to the lobby, restrooms, common areas, building exterior, and landscaping. Additionally, there is a new tenant lounge, conferencing facility, and a micro-market open for breakfast and lunch options. The property is 89% occupied by various tenants including DataCore, Delphi Behavioral Health Group and Total Quality Logistics.

Cypress Corporate Center is within a short drive to numerous amenities, including retail, dining and banking options. Additionally, tenants have nearby access to the TriRail, the Fort Lauderdale Executive Airport, Interstate 95, and the Florida Turnpike.

 

Shutts & Bowen Expansion, Zions Bank Lease Bring The Main Las Olas To 100% Leased

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Blanca Commercial Real Estate announced that The Main Las Olas office component is now 100% leased, twenty four months after receiving its temporary certificate of occupancy with the 3,670 RSF expansion of Shutts & Bowen and new tenant Zions Bank leasing 3,931 RSF of office space.

The property is a 1.4 million-square-foot, mixed-use office, residential and retail community featuring Class A offices, stunning high-end architecture, chic residences and destinations for gathering, dining and shopping. The 25-story property features a 387,402-square-foot tower, 17,355 square feet of total retail space, a 2,951-square-foot fitness center, 3,360-square-foot office lounge and conference center, along with an outdoor terrace featuring a fire pit, bar and glass floor oculus with panoramic views of Las Olas and the beach with event and conference space.

The property’s leasing team is led by Danet Linares, executive vice chairman of Blanca Commercial Real Estate, alongside Christina Jolley, senior vice president; Sky Jones, associate vice president; and Tere Blanca, chairman & CEO.

The Main Las Olas was developed by Shorenstein Properties LLC and Stiles, two real estate leaders with development track records spanning more than a century, and was designed by nationally acclaimed architecture firm Cooper Carry.

Shutts & Bowen was represented by Zach Wendelin and Kevin Probel of CBRE, Inc.

Tenants at The Main Las Olas include financial, legal, real estate and insurance sectors, both relocation and new-to-market, solidifying the continued demand for office space in Fort Lauderdale. Moxies and Fogo de Chão will occupy the anchor retail on the ground floor of The Main Las Olas. Tenants include, among others:

  • JPMC 
  • Marcum
  • RSM 
  • Starr Indemnity
  • Raymond James
  • Cherry Bekaert 
  • Synovus Bank
  • Walker Dunlop
  • Starboard Value

“We are thrilled to reach this milestone,” said Linares, Executive Vice Chairman of Blanca Commercial Real Estate. “Over the last year, flight-to-quality remained at the forefront of all major office moves and the uptick of new-to-market demand translated into the stellar performance of new office developments and top-tier existing Class A office space.”

Shorenstein and Stiles developed The Main Las Olas, anticipating the demand for high-quality, luxury office space with world-class architecture and amenities that differentiate the property as the preferred choice for corporate users and its employees. As the only office building in the region offering businesses a full range of amenities, conference space and ceiling heights and surpassing anything else in the market, The Main Las Olas has been the premier choice for companies migrating to South Florida due to the pandemic.

The Main Las Olas is the first new construction class A office space in downtown Fort Lauderdale in more than a decade, further solidifying Broward County’s downtown core as a major player in the commercial real estate office sector. Low taxes and quality of life compared to other major cities are two of the big factors driving the continued migration to South Florida including downtown Fort Lauderdale, one of the most dynamic and growing urban centers in the region. Well-known companies headquartered in Broward County include AutoNation, Citrix, Spirit, Virgin Voyages, Microsoft’s Latin American headquarters, Royal Caribbean International, Chewy, and Hotwire Communications. Other major companies with a significant presence include American Express, Chiquita, JetBlue, Marriott, and DHL.

“We are extremely pleased with the success of The Main Las Olas, the first luxury office of its kind,” said Charles Malet, President and Chief Investment Officer at Shorenstein. “The property underscores Shorenstein’s continued focus on developing differentiated, best-in-class office properties in attractive and growing markets. As preferences for office spaces continue to evolve, we believe these types of top-quality spaces will remain the desired choice for tenants nationwide.”

 

“Along with our partner Shorenstein, we set out to establish a new bar for luxury urban office, not only in Fort Lauderdale, but in all of South Florida,” said Stiles CEO Ken Stiles. “The Main Las Olas offers a truly distinctive integrated work, life and entertainment experience with an unmatched level of quality, amenities and design. We are proud to have had the opportunity to continue our 72 year track record of quality development with this iconic project.”

 

Berger Commercial Realty’s Keith Graves and Jonathan Thiel Negotiate 290,503 SF Lease Renewal For Sun-Sentinel

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Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM and Vice President Jonathan Thiel negotiated a long-term lease renewal on behalf of Sun-Sentinel Company LLC for 290,503 square feet at 333 SW 12th Avenue in Deerfield Beach.

The 1988-built property is occupied by Sun-Sentinel Company LLC as a printing plant and distribution center and includes a 2-story office component, as well. The property features 35’ clear ceiling height, dock and grade level loading and is situated on 23.03 acres. Besides the Sun Sentinel, the other papers now being printed at the facility include the New York Daily News, New York Times, New York Post, Wall Street Journal, and the weekly Barron’s financial publication.

“This represented a strategic, long-term commitment to South Florida and the local community,” commented Graves. “The prime location and functionality of the property, coupled with Sun-Sentinel’s growth and business model were all contributing factors.”

Tom O’Loughlin of CBRE represented the landlord, GPT SW 12TH AVENUE OWNER LLC, in the lease deal.

 

Financial Services Giant To Occupy 25,000 Square Feet In Boca With Additional Expansion Rights

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Tricera Capital secured a prominent new tenant at its 1675 Midtown office building in Boca Raton.

Wells Fargo signed a lease for approximately 25,000 square feet with options to expand at the building.

The Ben Mandell-led Tricera also kicked off an extensive capital improvements program at the 1675 N. Military Trail property, with Kravit Architecture retained to assist with the upgrades. The building’s lobbies, common corridors, restrooms and building systems will be renovated.

The Wells Fargo lease allows Tricera to seamlessly backfill space to be vacated by Comerica Bank, which is moving out of 1675 Midtown when its lease expires in June 2023.

Tricera Executive Vice President | Head of Office Leasing Dustin Ballard began discussions with Wells Fargo in advance of the firm’s November 2021 acquisition of the building. Wells Fargo had an expiring lease at a nearby property, so 1675 Midtown gives it a premier location for its new Boca Raton corporate office.

“We are thrilled to finalize a lease with Wells Fargo – a flagship tenant for a trophy Boca Raton office building,” Ballard said. “Our team continues to receive substantial interest from potential corporate tenants of all sizes, including new-to-market companies and those with an established presence in Palm Beach County.”

The seven-story 1675 Midtown has approximately 70,000 square feet and ample parking in the four-story podium parking garage. Built in 2008, the building features hurricane resistant windows, heavy back-up power, expansive conference rooms and valet parking.

Tricera is extremely active in Palm Beach County.

The firm is part of a joint venture that owns office building One Clearlake in downtown West Palm Beach. Tricera is also nearing completion of The Press, a transformative mixed-use redevelopment of the former Palm Beach Post campus on West Palm Beach’s South Dixie corridor. The Press includes a fully redesigned and renovated office building occupied by the Post and numerous additional tenants.

“We remain bullish on Palm Beach County’s core markets, especially Boca Raton and downtown West Palm Beach,” Mandell said. “These areas have benefitted greatly from the domestic and corporate migration of the last few years. That activity has not slowed down, and we continue to pursue investment opportunities to address the pent-up demand for quality office and retail space in these markets.”

CBRE’s John Criddle, Joe Freitas and Chris Smith oversee leasing of 1675 Midtown on behalf of Tricera.