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MCI/Worldcom Expands Lease at Park Center

MIAMI-The tenant, MCI/Worldcom, is in Chapter 11 protection under the U.S. Bankruptcy Code. In a unique deal, the company expanded its lease by 10,000 sf and two years in a $300,000 transaction.

By Melissa Bogdany | Updated on April 24, 2003

MIAMI-Intermedia Communications, a provider of integrated communications solutions for businesses, has expanded its class A office space lease at Park Center in Fort Lauderdale by 10,000 sf and added two years to its length in a $300,000 deal.

The tenant is MCI/Worldcom. The company had three years left on its 17,000-sf lease, and expanded the space to 27,863 at 6363 NW 6th Way and extended the term to five years.

The tenant is in Chapter 11 protection under the U.S. Bankruptcy Code. The property owner, Tricony Florida, lowered the company’s rent on its existing space, expanded it, and spent tenant improvement dollars (construction costs to build the interior of the space to suit the tenant’s needs) and commissions, according to Pike Rowley, a broker involved in the transaction.

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