Bolton is initially subleasing the space, located at 799 Sawgrass Corporate Parkway, from Medtronics, a medical manufacturing company, for the next two years. After that, Bolton Medical will lease the space for an additional seven years, Jay Adams, first vice president with the Fort Lauderdale office of CB Richard Ellis Inc., tells GlobeSt.com. This would make the lease worth $9 million or more, inclusive of operating expenses. Adams represented the property owner, Sawgrass & Spectrum SDCO Inc., in the transaction.
Bolton Medical is headquartered in Spain. The similar nature of the two medical companies helped in the ease of the lease transition, according to sources. Richard Lenevsky of Grubb & Ellis represented the tenant in this transaction.
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