In one transaction, the stock brokerage Morgan Stanley DW Inc. inked a new, long-term lease for 9,789 sf. The firm is relocating from Flagler Tower, at 505 S. Flagler Drive also in the city.
In addition, existing tenants Jacuzzi Brands Inc., and Wealth and Tax Advisory Services extended their lease terms. Jacuzzi Brands renewed 13,783 sf long term for its corporate headquarters for plumbing fixtures manufacturing. Wealth and Tax Advisory Services, a financial services firm, is taking 8,993 sf short term.
Phillips Point, a two-tower, 423,323-rentable-sf, trophy, waterfront complex, is located at 777 S. Flagler Dr. The office complex was built in two phases, in 1985 and 1988. The complex is about 95% occupied and other tenants include: Ernst & Young LLP, KPMG LLP, Wachovia Bank, Harris Bank, Smith Barney, Greenberg Traurig, Foley & Lardner, Slim-Fast Foods Co., Gunster Yoakley & Stewart, Alliance Capital Management, Steel Hector & Davis and Kaye Scholer.
Walters/Gottlieb Partners Inc., which has leased and managed Phillips Point since 1986, represented the property owner in all three transactions. Cresa Partners represented Morgan Stanley DW. No other brokers were involved in the Jacuzzi Brands, and Wealth and Tax Advisory Services deals.
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