IBC took the space at 2200 SW 10th St., Deerfield Beach, FL for nine years at an estimated aggregate rent of $8.55 million, based on an estimated first-year rent of $19 per sf. Participating brokers didn't disclose lease terms.
But Miami-based RealData Information Systems Inc. puts the average quoted rent for class A, B and C space in north Broward County at $18.74 per sf, giving the contract an estimated aggregate value of $8.55 million. Deerfield Beach is just below Boca Raton at the south Palm Beach county border.
IBC grabbed the space after existing tenant Barpoint.com relocated in a downsizing move. "This building wasn't even listed," IBC CEO Garrett Bender says in a prepared statement. "This is an example of a real estate professional locating a space entirely based on professional contacts." The property is just off the eastern terminus of the Sawgrass Expressway.
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