The leases have a total approximate value of nearly $4.7 million and are for a combined 25,945 sf. Grace Blanco of Abood Wood-Fay Real Estate Group LLC represented Aquila in all the deals.
Recent leases at the 44,600-sf Lakes Plaza are:
-Premier Community Bank of South Florida, which inked a 10-year lease for 11,562 sf. The deal is worth approximately $2.9 million. The bank plans to relocate its headquarters to the property and open a 3,500-sf branch on the ground floor.
-NSI Insurance, which signed a six-year renewal and expansion lease for 9,245 sf. NSI previously leased 6,974 sf. The deal is valued at about $1.2 million. Wayne Schuchts of CB Richard Ellis represented NSI Insurance in this transaction.
-Capital Prime Mortgage Co., which signed a five-year deal for 4,185 sf. The lease is worth approximately $475,000.
-LMH & Associates Inc., an insurance company, which signed a five-year lease for 953 sf. This lease has an approximate value of $100,000.
"We are extremely pleased with the level of leasing activity and the quality of tenants that Donna Abood and Grace Blanco of Abood Wood-Fay Real Estate Group have been able to bring to our buildings over the last 12 months," Jordan Paul, president of Aquila Property Co. Inc., says in a statement. "Our strategy has been to acquire and implement an intensive hands-on management approach on well-located, under-performing office projects in affluent Florida communities. This approach has worked very well for us."
"Our strong leasing and management abilities allow us to respond creatively and decisively to reposition opportunities, thus permitting us to acquire properties in South Florida which are under-performing in the marketplace," says Kenneth P. Balin, president and CEO of AMC Delancey Group, a national real estate investment, development and management company.
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.