Miami Beach-based Terranova Corp. senior commercial associate Gordon Messinger represented the landlord in the transactions. Terranova assumed management and leasing of the three-building, 240,000-sf office park located at 1615, 1625 and 1690 Congress Ave. in 2003.

The leases include a $2.4-million renewal with bridal apparel maker Alfred Angelo, Inc., which will maintain its 21,391-sf office. Charlie Barton and Ted Garrity, of Cresa Partners, represented the tenant. A $1.7-million deal was struck with American Home Mortgage Construction, which will expand its space within the building to 13,258 sf. A third lease worth $500,000 was secured with World Savings Bank, which will open a new 3,700-sf office to serve customers in the Delray Beach and Boynton Beach markets.

Messinger tells GlobeSt.com that rents in the building average $16 to $17 per sf. With the signing of the leases, the building is 84% occupied with approximately 65,000 sf of vacant space.

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 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.