Tag Archive for: greenspoon marder

Greenspoon Marder Inks 62,000-SF Office Lease In Fort Lauderdale

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Banyan Street Capital and its joint venture partner, funds managed by Oaktree Capital Management, have secured a 61,994-square-foot office lease renewal and restructure with tenant Greenspoon Marder, a national business law firm.

The firm will occupy space at 200 East Broward in Downtown Fort Lauderdale.

The 21-story, 227,158-square-foot office tower sits at the corner of East Broward Boulevard and Third Avenue near a number of retail and restaurant offerings on Las Olas Boulevard. The recently updated office property offers modern amenities, including newly renovated corridors and restrooms, a conference center and on-site cafe as well as views of the Atlantic Ocean and surrounding downtown skyline.

Jonathan Kingsley, Jarred Goodstein and Ilyssa Ettelman of Colliers International represented the landlords in the transaction. Thomas Capocefalo of Savills represented Greenspoon Marder in the lease.

 

Downtown Fort Lauderdale Office Tower Trades, Pointe Group Advisors Awarded Management

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One of the largest privately held real estate advisers in the U.S. has acquired two prime office properties along Broward Boulevard in the heart of Fort Lauderdale’s business district.

Realty Associates Fund X LP, a real estate investment trust, paid $66.4 million for the downtown office towers at 203 SE First St. and 200 E. Broward Blvd., according to a deed recorded Friday. The building is home to multiple law firms, including Shutts & Bowen and Weiss Serota Helfman Pastoriza Cole & Boniske.

The buyer is linked to Boston-based TA Associates Realty LLC, which manages 91 million square feet of commercial real estate and 12,300 residential units in 35 markets nationwide. This deal gives it control of more than 540,000 square feet of prime office space.

One of the biggest tenants, Greenspoon Marder, moved nearly 100 lawyers into the building from the Cypress Creek area. In November, Greenspoon leased 64,964 square feet, expanding from one to four full floors and giving a strong boost to office absorption along the Broward Boulevard corridor.

The sale represented a gain for the seller, VV USA City LP, a German closed-end investment fund, which paid just under $44 million for the towers in separate transactions in 1998 and 1999, yielding a 51 percent return on the deal.

TA Associates Realty has selected Miami-based management, brokerage and advisory firm Pointe Group Advisors as the property manager for the building.

“Given our proven track record of performance and success in servicing assets in Broward’s suburban markets, our team is very excited about the opportunity to bring our award-winning property management platform into Fort Lauderdale’s central business district with the assignment at 200 Broward,” said Alfie Hamilton, Vice President of Pointe Group Advisors. “We look forward to executing the new ownership’s vision for the numerous capital improvement projects that will be undertaken to modernize the building so that it can compete with the newer product on Las Olas. Our team is committed to creating a tenant-friendly environment with our high-tech, high-touch approach of management, as well as assisting the leasing team all in an effort to maximize the value of 200 Broward.”

 

Source: DBR

Sandra Andersen Inks 65,000 SF Deal At 200 East Broward

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Greenspoon Marder has leased four floors at 200 East Broward Blvd., one of downtown Fort Lauderdale’s tallest office buildings. The firm will move all attorneys downtown, keeping portions of its Cypress Creek area office for support staff.

The new 64,964-square-foot lease expands what was formerly Ruden McClosky’s space in the tower. Greenspoon acquired Ruden’s book of business and many attorneys out of bankruptcy in November 2011.

Greenspoon has more than 160 attorneys in 10 Florida offices.

“We wanted to align our space needs with our business goals by bringing our lawyers closer to many of our corporate and banking business clients in downtown Fort Lauderdale,” co-founding partner Gerry Greenspoon said in a news release.

Sandra Andersen, senior VP for Jones Lang LaSalle, completed the lease on behalf of the building’s ownership, VV USA City, LP., an entity represented by Invesco Real Estate.

Greenspoon Marder was represented by Studley corporate managing director Thomas Capocefalo  and executive VP Gregory Katz.

According to Jones Lang LaSalle, the occupancy rate at the 21-story class A office building rises to 87 percent, with other tenants including PNC Bank and law firms Shutts & Bowen and Weiss Serota Helfman Pastoriza Cole & Boniske.

“This transaction is a testament to the strengthening of the office market in the CBD, particularly along Broward Boulevard, as law firms like Greenspoon Marder look to solidify their presence in the Central Business District,” Andersen said in the news release.

Financial terms were not disclosed.

 

Source: SFBJ

 

200 E Broward Rumored To Gain Back 3 Floors

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Rumor has it that with the approved sale of Ruden McClosky’s assets to Greenspoon Marder, 200 East Broward Blvd. will add three floors, or approximately 30,000 square feet, back into their available inventory.  The 225,000 square foot office building is currently 48% vacant, with 108,158 square feet available, according to CRE-sources data.

The law firm will retain a presence in the building, occupying one of the four floors it currently leases, according to sources.

Last November, Ruden McClosky announced that the US Bankruptcy Court for the Southern District of Florida had approved the sale of its assets to the Greenspoon Marder law firm. As approved, the sale will result in combined operations totaling approximately 140 attorneys and 400 staff members located in 10 offices throughout the state.

Greenspoon’s South Florida offices are located at the Trade Centre South building, at 100 West Cypress Creek Road in uptown Fort Lauderdale. Greenspoon Marder also has offices in Aventura, Boca Raton, West Palm Beach, Stuart and Orlando.

Approximately 50 Ruden McClosky attorneys will continue their practices under the Greenspoon Marder name.

The vacancy at 200 E. Broward is reported to take place in late March.