Gramercy Shifts Gears With Broward Office Space

“Plantation Corporate Center I provides a unique, full-building opportunity for potential tenants.”

MIAMI— Gramercy Property Trust is bringing in a new leasing team for its Broward County office center. Cushman & Wakefield is now the exclusive agent for Plantation Corporate Center, a 122,167-square-foot office building at 1601 Southwest 80th Terrace. CushWake senior director John K. Criddle , director Gordon Messinger , and associate Joseph J. Freitas are handling the assignment. Built in 1994, the office complex sits on a 6.6-acre site. “Plantation Corporate Center I provides a unique, full-building opportunity for potential tenants,” Criddle tells GlobeSt.com. “As markets continue to tighten, this building represents one of the last remaining large blocks of quality office space in all of Broward County that can accommodate a true corporate headquarters or operations center.” The four-story building offers 31,000 square feet floorplates and features a fully redundant Cummins 1.875 KVA diesel generator with a 6,000-gallon tank, 645 parking spaces, an on-site cafeteria and lake views. The class A suburban office building is in the master-planned Jacaranda Park of Commerce. Tenants have access to Interstate 95, Interstate 595, Florida’s Turnpike, Sawgrass Expressway and Fort Lauderdale/Hollywood International Airport. Cushman & Wakefield research has documented strong fundamentals across the board for the Broward County office market and foresees continued growth in the near term. According to the firm’s 4Q 2015 Broward County Office MarketBeat Snapshot, Broward County’s office market approached an eight-year vacancy rate low of 11.7%, falling 6.8 percentage points since the end of 2009. “New supply remained unchanged and strong positive absorption signaled the fourth consecutive year of healthy demand,” says senior research analyst Valerie Tatum . “Leasing activity totaled 1.4 million square feet year-to-date, as many tenants expanded their space or moved into the market. “Class A space experienced a significant decrease in vacancy to 8.2% from 12.6 percent over the past 12 months,” Tatum continues. “The office market in Broward County is in position to have above-average performance in 2016 on tightening market conditions and positive economic trends. Construction will likely pick up as tenant demand strengthens and the lack of space options in the market increase.” Did you read about the all-but-dead mall in Plantation. Read my recent column .