Wachovia Lease Brings 350 Las Olas Centre to 77% Occupancy

MIAMI-Wachovia Corp. of Winston-Salem, NC has boosted occupancy at the 19-story, 284,173-sf 350 Las Olas Center II tower in Downtown Fort Lauderdale, FL to 77% with its newly signed, 10-year, 23,381-sf lease for the entire 18th floor. The estimated aggregate value of the lease is $6.31 million.

Fort Lauderdale-based Stiles Corp., which owns the structure, didn’t disclose the lease’s value. But in its first-quarter analysis, Coral Gables, FL-based RealData Information Systems estimates the full-service rent at $27.93 per sf and the occupancy at 67.78% with 83,501 sf vacant. The building has 259,173 sf of office and 25,000-sf of ground-floor retail.