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CBRE Lands TIAA-CREF Assignment

FT. LAUDERDALE, FL-CBRE recently took over the 350,000 square foot, two building complex, originally built for IBM, which is now 97% leased.

By Hortense Leon | Updated on July 15, 2010

FT. LAUDERDALE, FL-The Boca Raton office of CB Richard Ellis has been engaged to do management and leasing at  TIAA-CREF’s two-building portfolio known as the “North 40.” The 350,000 square foot complex on Yamato Road in Boca Raton, was originally built for IBM in the early 1980s.

The occupancy rate in the two buildings is 97%, says Michael Erickson, senior vice president at CBRE in Boca Raton, and the asking rents are  $15 per square foot  triple net.  The floor plates in the two-story, Class B buildings have 21,000 to 27,000 square feet. 

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