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Kaplan Takes 100,000 SF for $17M

FORT LAUDERDALE, FL-The educational and career services provider is taking 100,000 sf for 10 years at the Cypress Creek Concourse office park here beginning in January. The lease is worth about $17 per sf.

By Melissa Bogdany | Updated on August 13, 2004

FORT LAUDERDALE, FL-In an expansion deal, Kaplan Inc. inked a 100,000-sf lease valued at approximately $17 million in the Cypress Creek Concourse office park here. The lease represents about $17 per sf.The space, at 1515 Cypress Creek Rd., is for a new, empty building that was one of two buildings built on a speculative basis at the park, says Gregg Metcalf, vice president of national development for the Alter Group, the Chicago-based developer of the office park. The other building is 50,000 sf and leased to BellSouth.The developer also is planning to add 300 parking spaces to the 430 that exist, he says. “We’re actually constructing a parking deck to allow for additional parking.” The Alter Group plans to deliver the deck as Kaplan occupies the space in January.Greg Martin and Jacqueline Blake of Cushman & Wakefield in Fort Lauderdale represented the Alter Group in the transaction. Franklin Speyer of Cushman & Wakefield in New York, Thomas Dean and Mitchell Millowitz of Cushman & Wakefield in Fort Lauderdale, and Jeff Samaras of Cushman & Wakefield in Chicago represented Kaplan.Kaplan, a New York-based wholly owned subsidiary of the Washington Post Co., is a provider of educational and career services for individuals, schools and businesses.

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