MIAMI—Downtown Fort Lauderdale's office market is heating up. The ink is drying on two new big leases in the Central Business District.
Cushman & Wakefield executive director Jeff Holding and director A.J. Belt negotiated two new leases in downtown and one new lease in Fort Lauderdale's uptown business district. Holding and Belt brokered one relocation lease and two new-to-market leases totaling nearly 35,000 feet for EnvisionRX, Dickinson Wright, LLP and GQG Partners.
“Broward County continues to attract corporate relocations based on strong market fundamentals, an excellent demographic profile and its central location in the South Florida marketplace,” Belt tells GlobeSt.com. “We're seeing tremendous interest from potential tenants and it doesn't seem to be waning.”
EnvisionRx, a pharmacy benefit manager and subsidiary of RiteAid, is relocating its South Florida offices from Downtown Fort Lauderdale to Bayview Corporate Tower at 6451 North Federal Highway. EnvisionRX leased 23,026 square feet in the office building and is expected to relocate 100 employees to the new location in October. CushWake executive director Deanna Lobinsky and associate Chase Kulp represented building owner New Boston in the transaction.
Holding and Belt also negotiated a 6,241-square-foot lease in Las Olas Centre II with new-to-market, Detroit-based law firm Dickinson Wright, LLP. The office building sits at 350 East Olas Boulevard. ComReal's Timothy J. Talbot represented building owner RREEF Property Trust in the transaction.
Holding and Belt negotiated a 3,705-square foot lease at a class A high-rise along Las Olas Boulevard for GQG Partners, a new-to-market boutique investment firm founded by Rajiv Jain focused on global and emerging market equities. ComReal's Talbot represented building owner RREEF Property Trust in the transaction.
“With increased tourism, positive job creation and expectations for the start of the high-speed rail network high, Broward County's office market remained competitive to companies looking to locate in the South Florida market,” wrote CushWake senior research analyst Valerie Tatum in the firm's first quarter 2016 Broward County Office MarketBeat Report. “Tenant interest increased in the first quarter, with many searching for large blocks of space that are not available in the market, especially in the highly sought after Downtown CBD submarket. Smaller tenants were also active in the 2,000 to 20,000 square foot range.”
MIAMI—Downtown Fort Lauderdale's office market is heating up. The ink is drying on two new big leases in the Central Business District.
Cushman & Wakefield executive director Jeff Holding and director A.J. Belt negotiated two new leases in downtown and one new lease in Fort Lauderdale's uptown business district. Holding and Belt brokered one relocation lease and two new-to-market leases totaling nearly 35,000 feet for EnvisionRX,
“Broward County continues to attract corporate relocations based on strong market fundamentals, an excellent demographic profile and its central location in the South Florida marketplace,” Belt tells GlobeSt.com. “We're seeing tremendous interest from potential tenants and it doesn't seem to be waning.”
EnvisionRx, a pharmacy benefit manager and subsidiary of RiteAid, is relocating its South Florida offices from Downtown Fort Lauderdale to Bayview Corporate Tower at 6451 North Federal Highway. EnvisionRX leased 23,026 square feet in the office building and is expected to relocate 100 employees to the new location in October. CushWake executive director Deanna Lobinsky and associate Chase Kulp represented building owner New Boston in the transaction.
Holding and Belt also negotiated a 6,241-square-foot lease in Las Olas Centre II with new-to-market, Detroit-based law firm
Holding and Belt negotiated a 3,705-square foot lease at a class A high-rise along Las Olas Boulevard for GQG Partners, a new-to-market boutique investment firm founded by Rajiv Jain focused on global and emerging market equities. ComReal's Talbot represented building owner RREEF Property Trust in the transaction.
“With increased tourism, positive job creation and expectations for the start of the high-speed rail network high, Broward County's office market remained competitive to companies looking to locate in the South Florida market,” wrote CushWake senior research analyst Valerie Tatum in the firm's first quarter 2016 Broward County Office MarketBeat Report. “Tenant interest increased in the first quarter, with many searching for large blocks of space that are not available in the market, especially in the highly sought after Downtown CBD submarket. Smaller tenants were also active in the 2,000 to 20,000 square foot range.”
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