Tag Archive for: sawgrass international corporate park

189,000-SF Broward Office Building Back In Play

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A 189,000-square-foot office building in Sunrise is being offered to prospective tenants, adding another large block of available space to Broward County.

Chetu Inc., a global software development company headquartered in Sunrise, has retained Avison Young brokers Justin Cope, Greg Martin and Lisa Blumer to market the five-story building at 1500 Concord Terrace. The property sits within the 22-acre Sawgrass International Corporate Park, a location near Sawgrass Mills and the broader Sawgrass business district.

Chetu currently occupies one full floor totaling about 36,000 square feet. The remaining four floors have reportedly been vacant for several years, creating a rare opportunity for a tenant seeking a full-building presence or a large contiguous office footprint. The owner has indicated it would consider relocating if a user wanted to lease the entire property.

The space is being marketed at roughly $30 per square foot on a triple-net basis and is described as fully built out and immediately available. The property also includes a 7,500-square-foot data center on the first floor, which could appeal to users with technology, operations or infrastructure needs.

Chetu has said it is not leaving the market and remains in growth mode. A company spokesperson stated that the firm is expanding and hiring.

The building is owned by Bansi Properties, the real estate development company led by Chetu CEO Atal Bansal. Bansi Properties acquired the asset for $25 million in 2021, with plans at the time for Chetu to anchor the building while leasing the balance to outside tenants.

The Sunrise property followed Chetu’s earlier development of a 63,000-square-foot headquarters in Plantation, which opened in 2019. The company later said its growth required additional space. Bansi Properties also secured a long-term IRS lease at the Plantation building for the agency’s Broward County office.

The listing comes as Chetu continues to deal with legal fallout from customer disputes. In October, the company was ordered to pay more than $500,000, including punitive damages, in a fraud case involving a Washington state barbershop chain that alleged the company failed to deliver promised software while continuing to collect fees. Chetu appealed the decision in January.

Source: Bisnow

CBRE Announces New Leases At Sawgrass Concourse In Sunrise

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CBRE facilitated two new office leases totaling 40,000 square feet at Sawgrass Concourse, a two-building office complex located in the Sawgrass International Corporate Park in Sunrise.

Gordon Messinger with CBRE represented the landlord, MG3 Group, a Florida-based real estate investment and development company, in lease negotiations.

The State of Florida signed leases totaling 40,000 square feet in August. The Florida Department of Financial Services signed a 21,000-square-foot lease, and the Department of Revenue signed a 19,000-square-foot lease. Both state agencies are relocating from other parts of Broward County and are expected to move in during 2026.

“We are excited to welcome these tenants to Sawgrass Concourse,” said Messinger, executive vice president at CBRE. “Successfully backfilling 40,000 square feet of space in only seven months highlights the property’s appeal and underscores the ease and efficiency of working with MG3 Group. Their proactive approach and dedication to facilitating the deal were instrumental in this quick turnaround.”

Sawgrass Concourse is one of the premier flex office properties in the southwest Broward office market.   The office complex provides companies with flexible and efficient floor plans, above-market parking ratios and convenient access to hotels and food/beverage options. Additionally, Sawgrass Concourse offers strategic accessibility with direct access to Sawgrass Expressway, the Florida Turnpike and Interstate 595 and 95.

Comcast Vacates 64,000 SF In Sunrise, Moves To Pembroke Pines

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Comcast has chosen not to renew its lease at the Sawgrass International Corporate Park in Sunrise, choosing instead to relocate its internet connectivity team to a new office in Pembroke Pines.

A report from Cushman & Wakefield for the first quarter shows that Comcast vacated 63,850 square feet at 789 International Parkway. That space is now being marketed for lease.

The vacated area accounts for more than half of the 112,791-square-foot building, which is owned by MG3 Sawgrass Office LLC, a company based in Aventura. The building was built in 1999.

Comcast representative Steve Campion explained that the Sunrise location wasn’t being fully used, prompting the move. The team has now settled into a 28,890-square-foot space at The Edison Pembroke Pines, located at 1200 SW 145th Ave.

According to Campion, the smaller office is a better fit for the company’s current needs and offers proximity to the Shops at Pembroke Gardens, a well-known outdoor shopping center. He also mentioned that the new office, completed in 2019, offers a more modern and appealing environment for employees.

 

Source:  SFBJ

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.

 

International Digital Consultant Firm Inks 20,000 SF Lease

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Stiles Realty is pleased to announce a new lease signing as well as a pair of lease renewals at Sawgrass International Corporate Park in Sunrise.

Synechron, Inc., a $500 million international digital consulting firm, signed a lease for 19,683 square feet while insurance firm MacNeill Group renewed its lease for 37,818 square feet at Sunrise Corporate Plaza. Additionally, Emerson renewed its lease for its 17,065-square-foot Latin American headquarters at Lake Shore Plaza II.

Senior Vice Presidents Madelayne Garcia and Tom Kates handled the leasing for Stiles Realty, a division of the full-service real estate development firm, Stiles.

Sunrise Corporate Plaza (107,748 SF) and Lake Shore Plaza II (128,470 SF) are Class A office buildings featuring impact-resistant windows, lakefront views and outdoor courtyards. Both are located within Sawgrass International Corporate Park, just one mile from the Sawgrass Mills Mall and BB&T Center with convenient access to I-75, the Sawgrass Expressway and I-595.

“The addition of Synechron as well as the renewals of MacNeill and Emerson continue to affirm Sunrise Corporate Plaza and Lake Shore Plaza II as attractive office locations for top national technology and professional service firms,” Garcia said.

Headquartered in New York City, Synechron has more than 8,000 employees operating in 18 countries. Synechron provides a wide range of digital consulting services from strategy and UX to marketing science and development. The 89-month lease is valued at $4.6 million. Tenant representative was Tony Jones of Cushman & Wakefield.

A member of the Team Focus Insurance Group, MacNeill Group’s 130-month renewal is worth $40 million. MacNeill was established in 1946 and works exclusively with top-rated property and casualty (P&C) insurance companies specializing in commercial, personal, transportation and flood lines, and provides independent agents throughout the Southeast. Robert Listokin of Colliers lnternationalrepresented the tenant in the lease negotiations.

A 128-year-old global automation technology and software company, Emerson provides technologies and strategies for customers in manufacturing industries such as oil and gas, power, chemical, life sciences and others. The company has 76,500 employees across the globe and revenues over $25 billion. The renewal is for 65 months at a value of $3.1 million. The national tenant representative was Patrick Fitzgerald of Axiom Advisory Group while Zach Talbot of Cresa South Florida was the local tenant representative.

Industry Veterans Launch New Brokerage Firm, Hit Ground Running With 120,000 SF Assignment

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South Florida commercial real estate brokers Patrick Conness and Mike Crissy are pleased to announce the launch of their newly formed company, Conness Crissy Real Estate Advisors (CCREA), a boutique brokerage and advisory firm based in Fort Lauderdale.

With over 30 years of combined industry expertise, the duo boasts a successful track record of representing local business owners as well as Fortune 500 companies throughout South Florida, including notable clients’ City Furniture, Sunbelt Rentals, West Marine, GE Aviation, Atlantic Southern Paving, and Delta Apparel. Their trusted relationships with these firms and their deep roots in the community have been instrumental to their success.

Patrick and Mike’s partnership began in 2013 at Stiles Realty. They have individually worked for several renowned firms previously, including Massey Knakal Realty, Jones Lang LaSalle, Berger Commercial Realty and The Staubach Company.

“We’ve been fortunate to have had the opportunity to work for some of the most well-respected brokerage firms in the industry,” commented Conness. “With our new venture, we’ve taken the good from each of these companies and combined them with our own methods. We see a lot of room for improvement in the brokerage business and now have the opportunity to offer our clients a unique platform that will help them achieve their real-estate focused goals.”

“As Fort Lauderdale natives, we feel a deep connection to our hometown and are committed to helping property owners and businesses succeed, added Crissy. “We have built trusted and long-standing relationships with some of the best South Florida real estate brokers, lenders, attorneys, contractors, and other industry professionals that are necessary to complete a commercial transaction. We are building winning teams that are producing positive results for our clients.”

As part of their first order of business, CCREA has been engaged by IBB USA to offer advisory services on its 120,000-square-foot headquarter facility in Sawgrass International Corporate Park in Sunrise.

With offices in New York, London, Bangkok, Paris & Tel Aviv, IBB USA is an international jewelry design company that distributes product to major retailers such as Kohl’s, Amazon, Belk, Macy’s and Zales.

IBB USA is currently building out 9,000 SF of office space for their executives on the second floor and will have +/-33,500 SF coming available in April 2018. With a 7 per 1000 square feet parking ratio and attractive lease rate, the available space is ideal for any tenants with high parking requirements.

The entire building will be extensively renovated, enhancing the overall curb appeal of the asset. Additionally, IBB USA has excess land adjacent to its headquarters and has plans to build either a 35,000 SF office building or a 40,000 SF industrial building, which CCREA will be marketing in 2018.

“We are in the preliminary stages of planning this project, but early interest has been very encouraging,” explained Crissy. “We are in a unique position of having the flexibility to respond to market demand by offering either office, industrial or flex space.”