Cypress Park West Sees Occupancy Rise to 82%

BROWARD COUNTY, FL-Cypress Park West I and II in the Cypress Creek submarket of the county has increased its occupancy rate from 59% to 82% this year.The park, located from 6700 to 6750 N. Andrews Ave. adjacent to Interstate 95, offers more than 227,828 sf of class A office space in two buildings. The rise in occupancy is attributed to five new leases totaling more than 55,000 sf this year. Overall, the submarket is seeing 19.6% vacancy rates, according to CB Richard Ellis. Most of the leasing was in the second phase, at 6750 N. Andrews Ave., which opened in May 2003. The park also has an on-site Marriott hotel and a Porter’s Steakhouse restaurant.These companies signed leases at the park this year:

• Nextel expanded into 11,123 sf at Cypress Park West I, bringing its total to 49,769 sf.
• MSC Cruises (USA) Inc., a division of Mediterranean Shipping Co., leased 13,286 sf at Cypress Park West II.
• Microsoft expanded into 7,710 sf at Cypress Park West II, making its total 47,895 sf at the park.
• Mesirow Financial Services leased 9,120 sf at Cypress Park West II.
• Crowe Chizek and Co. leased 12,746 sf at Cypress Park West II.

Jay Adams and Andrew Ackerman of CBRE represented the property in the transactions. “Considering the submarket has witnessed soft conditions, we are pleased to have experienced strong leasing activity within the park,” says Adams, first vice president of CBRE.