BOCA RATON, FL-WCS Lending, a residential mortgage lender, has inked a lease deal to occupy the first floor of the south building at 951 Yamato. WCS Lending will take down 27,000 square feet in what will become its new national headquarters.
NAI/Merin Hunter President Jay Grossman, along with leasing executives Richard Brockney and Steve O'Hara, worked on the WCS Lending transaction for more than a year. NAI/Merin Hunter is the exclusive leasing and management agent for the three-building, 145,000-square foot complex that was renovated in 2006. With the WCS lease, the class A building is 65% occupied.
“It’s a tenant’s market, and landlords have to react to who is in control of the market,” Grossman tells GlobeSt.com. “The landlord made a very aggressive deal to get WCS Lending to come to the building.” Terms of the deal were not disclosed, though Grossman says WCS Lending signed a “long-term lease” with a “generous tenant improvement allowance.”
WCS Lending is expected to occupy the space in early spring 2011. The firm plans to install a game room that will include amenities such as a flat-screen TV, foosball, pop-a-shot, air hockey, Xbox and more, a place where employees can "play hard" after working hard. A break room will be designed diner-style with booth seating and a juice bar.
"WCS Lending's new space is a unique opportunity for us to take a blank canvas, consider all of our employee suggestions, and design an exciting new headquarters to match the quality of our services," says Carlos Cepeda, managing partner of WCS Lending. "We want an energizing atmosphere that will accelerate productivity."
The firm is moving from a smaller building in the area. The new office space will house a sales force, lock-rate desk, underwriting, processing, compliance and wholesale operations. The firm anticipates employee growth of approximately 10 percent within the next 18 months.
“There’s definitely activity in the Boca marketplace and 951 Yamato should get its fair share of deals,” Jeff Kelly, senior vice president at CB Richard Ellis in Palm Beach County, tells GlobeSt.com. “We’re bumping along the bottom. There are still big blocks of space on the market so we are not out of the woods yet, but I am seeing some encouraging signs.”
951 Yamato is definitely seeing encouraging signs with three leases inked in the last 60 days. Beyond the WCS Lending lease, NAI/Merin Hunter leased 5,459 square feet of office space to Software FX, Inc,. and another lease with Noble Financial.
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