Core Construction Services of Florida has signed a sublease for a 20,000-square-foot office in Downtown Fort Lauderdale, taking over space previously occupied by Alms Health.

Located at 1 East Broward Boulevard, the sublease has 46 months remaining, according to Platinum Properties. Brokers Steven Evans and Brian Peer of Platinum Properties represented Alms Health in the transaction.

Listed at an annual rate of $24 per square foot, the total lease value is approximately $1.8 million, per a Platinum Properties representative.

Core Construction plans to open its new office on April 1 and intends to remain in the space beyond the sublease term.

Colliers’ Alfie Hamilton represented Core Construction in the deal, while Jeff Holding and Trent Slattery of Cushman & Wakefield represented Alms Health. Alms Health had occupied the office for nearly a decade.

Originally built in 1985, the 354,759-square-foot office tower was purchased by Pacific Coast Capital Partners (PCCP) in 2018 for $108.5 million, according to property records. Since 2023, the Los Angeles-based owner has invested at least $2.7 million in renovations to the 19-story building.

Source:  Commercial Observer