Both tenants are relocating from 350 S.E. Second St. in Fort Lauderdale to the eight-story, 88,000-sf, class A office tower, which is part of Las Olas Place, a 170,000-sf multi-building, Mediterranean-style office and retail complex.
In one deal, Peed, Koross, Finkelstein & Crain leased 8,204 sf for five years beginning in February. Based on the average class A rental rate of $28.65 per sf for office space in the Broward County central business district, the lease is valued at an estimated $1.18 million.
The local company, which provides accounting and business consulting services, has a special emphasis on the health care industry. The firm is moving its headquarters to the new location to be part of the growing downtown financial district, according to a statement.
In addition, Big Brothers and Big Sisters of Broward Inc., part of the national youth service organization, leased 3,659 sf for five years starting in March. The new office, which will house 14 employees, will be the administrative hub for the more than 1,000 local big brother and big sister volunteers. This lease has an estimated value of $524,151.
In both transactions, Stiles leasing representative Kathy Grandis represented the property owner, Third Avenue Associates Ltd., a Stiles Corp. partnership. She was the only broker involved in the deals.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
