Tag Archive for: daniel silver

CBRE, Berger Arrange Two New Fort Lauderdale Office Leases Totaling 16,000 SF

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CBRE has arranged two new office leases at Cypress Corporate Center in Fort Lauderdale totaling over 16,000 square feet.

Morgan Fidelity Associates, a national insurance brokerage company, signed a lease for 9,906 sq. ft., and Control Point Associates, a national land surveying and consulting firm, signed a lease for 6,166 sq. ft. They will be occupying spaces on the fifth floor in the first half of 2024. Both leases are relocations for the respective companies.

CBRE’s Gordon Messinger, Joe Freitas, and Max Pawk represented Cypress Corporate Center ownership, HS Capital, in each of the transactions. Both Morgan Fidelity Associates and Control Point Associates were represented by Michael Feuerman and Daniel Silver with Berger Commercial Realty.

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.

“HS Capital’s enhancements to Cypress Corporate Center have made it one of the most desirable buildings in the submarket with high visibility, the best parking ratio in submarket, and a deep talent pool,” said CBRE Executive Vice President Gordon Messinger.

According to a recent CBRE report, Class A office space in Fort Lauderdale’s Cypress Creek submarket has a direct vacancy rate of 14.1%, the second lowest rate in the region.

 

Cemex To Downsize, Relocate After $13.4M Office Sale In West Palm Beach

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Cement producer Cemex USA will downsize its office space after selling its building in West Palm Beach for $13.4 million.

The Mexico-based company sold the 65,760-square-foot office complex at 1501 Belvedere Road to District Pointe LLC, a joint venture between Index Investment Group and West Palm Beach-based Verdex Construction. The price equated to $204 per square foot.

Cemex affiliate Rinker Materials constructed the building on the 4.85-acre site just west of downtown in 1983. Cemex was the sole occupant.

According to Colliers International, Cemex is leaving the property in a few months. The company has less need for office space because more people are working virtually, so it will move to a smaller office nearby.

As for the buyers, they will rebrand the building District Pointe, completely renovate it, and reposition it into a multitenant building. Verdex Construction, one of the largest general contractors in South Florida, will occupy a full floor of the building.

Mark M. Rubin and Bastian Laggerbauer of Colliers International represented the buyers, while the sellers worked with Michael Feuerman, Steve Hyatt and Daniel Silver of Berger Commercial Realty.

 

Source:  SFBJ