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Leasing Agents Courting Sports Authority but Retailer May Stay Put at $10 Per-SF Rent

LAUDERDALE LAKES, FL-The 10-year-old sports and fitness store operator is checking out expansion sites in Broward and Palm Beach counties where full-service rents are $17 per sf to $22 per sf, almost double what the company is currently paying at its 100,000-sf headquarters site here. Lauderdale Lakes is 35 miles north of Downtown Miami.

By Alex Finkelstein | Updated on November 21, 2000

LAUDERDALE LAKES, FL-Sports Authority Inc. principals know a good deal when they see one and the best deal they may make for their company’s current expansion mode is to remain where they are–in a 100,000-sf building here at $10 per-sf rent. The company’s decision will be made by year end. Lauderdale Lakes is 35 miles north of Downtown Miami.

To date, the 10-year-old sports and fitness store operator has narrowed its search to three properties. They are the 188,000-sf Cypress Creek Telecom Center on Cypress Creek Road in Fort Lauderdale; the 650,000-sf Sawgrass Technology Park in Sunrise, FL, both owned by Miami-based America’s Capital Partners; and the 136,341-sf National Council on Compensation Insurance Building being vacated in December at Arvida Park of Commerce in nearby Boca Raton, FL.

Sports Authority may get sticker shock when it studies current rents at the three structures. Cypress Creek Telecom Center’s asking average rent is $19.50 per sf; Sawgrass Technology Park, $17 per sf; and the NCCI Building, $21.50 per sf.

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