The largest space to be vacated is the 100,000 sf office building the company occupies in Boynton Beach's Quantum Corporate Park, just south of its company-owned 542,000 sf office and manufacturing plant on Gateway Boulevard at Congress Avenue.
The asking rent for the subleased space is $9 per sf or $900,000 per year, according to Michael Falk of West Palm Beach-based McCraney Falk Commercial Realty Group, which Motorola has retained to find renters for the facilities. The rate would be higher if a tenant wanted to lease only part of the building, Falk tells GlobeSt.com.
Motorola still has four years remaining on a 10-year lease that it signed when the building was built in 1995. But Falk says the building's current owner, Miami-based Easton Group, is willing to work with new tenants to extend the lease for a longer term. Easton paid a German trust $8.3 million for the building this summer.
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