Tag Archive for: jay adams

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.

 

CBRE Arranges $57.5 Million Sale Of Broward County Class A Office Building

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CBRE has facilitated the $57.5 million sale of Offices at Plantation Walk, a 173,193-square-foot, Class A office building in Plantation, to Vision Properties.

Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction. Adams also handles the leasing for the property.

Offices at Plantation Walk is a seven-story office building located within the recently delivered Plantation Walk, a $350 million, 27-acre mixed-use development that includes a full-service hotel, approximately 131,000 square feet of retail and 404 luxury multifamily units. The property, which is 92 percent leased, is supported by a five-story parking structure with a parking ratio of five spaces per every 1,000 square feet.

Offices at Plantation Walk recently underwent a $15 million renovation, which included a redesigned lobby, new windows, elevator modernization, new bathrooms, new corridors and modern tenant buildouts.

“The buyer is fortunate to acquire a high caliber desirable suburban office building in Broward County, considering the tremendous investor demand for high-quality assets in South Florida today,” said Lee, Vice Chairman at CBRE. “The seller completed an outstanding renovation project that helped to attract a strong list of national and regional tenants to the project. As a result, the property achieved a sale price well above $300 per square foot.”

 

Lobón, Executive Vice President with CBRE, added, “Offices at Plantation Walk is the best amenitized office building in Broward County. Its prime location offers its tenants with walkability to retail on par with South Florida’s densest metropolitan cores.”

Plantation Walk is situated 10 miles from downtown Fort Lauderdale and 30 miles from downtown Miami, with convenient access to Florida’s Turnpike, Interstate 595 and Fort Lauderdale-Hollywood International Airport.

 

Class A Office Building In Plantation Nears Full Occupancy After Inking 66,500 Square Feet In Lease Deals

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Encore Capital Management, the developer of Plantation Walk, a $350 million mixed-use office, retail, residential, and hotel destination, recently announced a number of new tenants coming to the development’s 177,000-square-foot Class A office building. Five new tenants have signed leases, joining anchor tenant Aetna, bringing the building to 94% occupancy.

Office Evolution, one of the largest co-working franchises in the country, will open its first South Florida location at Plantation Walk. It will have 40 private offices as well as a traditional, collaborative work space incorporated in its 11,000 square feet space.  Office Evolution also offers virtual memberships, conference rooms, business address plans and additional business services such as phone answering and private mailboxes.

Gridiron Insurance Underwriters, which helps to manage insurance facilities and affinity-based program business on a regional and national basis, will also occupy 11,000 square feet.  Founded in 2006, they are currently based in Plantation, but announced they are moving their headquarters to Plantation Walk.

HCA Healthcare will occupy 26,500 square feet. HCA is made up of locally managed facilities that include 185 hospitals and 119 freestanding surgery centers located in 21 states and the United Kingdom. HCA is a full-floor tenant and will use the offices primarily for clinical and hospital nursing education.

Oncology Analytics provides health plans, providers, and patients with a data-driven, utilization management solution that delivers evidence-based analytics focused exclusively for oncology. The company will be relocating from its current office in Plantation and will occupy 7,000 square feet at Plantation Walk.

Rubenstein Law, a personal injury law firm practicing in Florida for more than 30 years, will occupy 11,000 square feet. The firm wanted a new office built to their exact specifications, resulting in the move from its current office in Plantation to Plantation Walk.

NKF Senior Managing Director Jay Adams exclusively represents the developer for the office leasing.

“The property had strong interest from the beginning, even during the mall demolition, and before there was air conditioning, vertical development and even elevators,” said Adams.  “Within five months of receiving our certificate of occupancy, the building is almost fully leased out, which speaks volumes about the need for this Class-A facility in this type of mixed-use development.”

These companies will be joining the building’s first tenant, Aetna, a CVS Health company, which moved in June of 2019. They are occupying 82,000 square feet of the office building which houses several divisions of the company including commercial business, Medicare, Medicaid and Aetna International.  Aetna committed to the property 12 months prior to the team receiving the Certificate of Occupancy.

“Plantation had been lacking this type and size of office space so we always knew it was going to be a critical component to this project,” said Art Falcone, CEO and Managing Principal of Encore Capital Management. “We’re offering an amenity-rich environment in a walkable area that rivals downtown Fort Lauderdale.”

The remainder of the office building is currently in the process of being leased out, and there is a limited amount of space still available.

Encore recently topped off construction on 171 apartments and is working on the first phase of retail.  In total, the project’s first phase will feature 700 luxury rental apartments under Encore’s The Rise brand and 180,000 square feet of retail space.

Once completed, Plantation Walk will create a downtown-style destination encompassing the ingredients of a true, walkable development that will create “Main Street Plantation.”  Entertainment and lifestyle options will include 180,000 square feet of unique shops and a variety of quick-service and fine dining restaurants.  Located on University Drive just north of Broward Boulevard, Plantation Walk is 10 miles from downtown Fort Lauderdale and 30 miles from downtown Miami.  It features easy access to I-595, Florida’s Turnpike and the Fort Lauderdale-Hollywood International Airport.

 

Aetna Inks Huge Office Deal At New Mixed-Use Project At Site Of Old Fashion Mall

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Aetna has agreed to a lease for about half of a planned 175,000-square-foot office building at the new Plantation Walk development in Plantation.

The office building is part of a $350 million mixed-use project that Encore Capital Management is building at the site of the old Fashion Mall at 300 NW 82nd Ave. When completed, Plantation Walk also will have 200,000 square feet of retail space and 700 luxury apartments.

A source close to the negotiations confirmed the deal with Aetna. The property’s office leasing agent, Jay Adams of Newmark Knight Frank, declined to comment for this story. Aetna’s broker, Steve Ernst of Cushman & Wakefield, did not return a phone call seeking comment.

The seven-story building is due to be completed this summer, with the first tenants moving in by December, according to a spokeswoman for Plantation Walk.

Aetna currently has about 100,000 square feet at 1340 Concord Terrace at the Sawgrass Corporate Park in Sunrise, according to CoStar data.

 

Source:  CoStar