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AT&T Renews Large Suburban Office Lease

FORT LAUDERDALE, FL-The deal at AtlanTech Tower is with new owner New Boston.

By Carl Cronan | Updated on November 02, 2009

FORT LAUDERDALE, FL-AT&T Inc. has renewed its lease of 110,477 square feet in AtlanTech Tower, a 12-story suburban office building here. New Boston Fund Inc., the building’s owner, calls the transaction one of the largest office renewals in South Florida this year, though it declined to disclose terms.

AtlanTech Tower, which opened in 1973 at 6451 N. Federal Highway and received significant renovations in 2001 that included the addition of covered parking, was purchased by New Boston in December 2007 for $63 million, or $152 per square foot. It was the firm’s first acquisition in the Southeast.

The 413,390-square-foot building has floor plates up to 33,000 square feet and is currently 87% occupied, including 25% by AT&T, according to New Boston. Asking rents are less than $16 per square foot, well below the current average for the Cypress Creek submarket.

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