According to Cushman & Wakefield research, a tightening Downtown Fort Lauderdale office market has boosted suburban demand. Coupled with significant regional employment gains, the Broward County office market stands to see significant gains in the coming months.

“As the Downtown CBD becomes less of an option due to limited space, many suburban markets that have not peaked will become more attractive to those forced out of downtown due to the high asking rental rates and restricted space availability,” wrote CushWake senior research analyst Valerie Tatum in the firm's second quarter 2016 Broward County Office MarketBeat report. “With limited construction in the pipeline, Cushman & Wakefield anticipates market fundamentals to tighten through the back end of 2016.”

MIAMI—ICM Realty Group has inked 83,000-plus-square-foot in new leases at Cypress Executive Center. The six-story, 140,635-square-foot, class A office building sits in the heart of Cypress Creek, an especially hot Broward office market.

Cushman & Wakefield leasing agents John Criddle and Joseph Freitas represented the landlord. The new leases are with Delphi Behavioral Health Group, Wells Fargo Bank, and Royal Seas Cruise Lines. Lease renewals are with Whiting-Turner Contracting Company and Humana Medical.

“We're seeing tremendous interest in Cypress Executive Center driven by both ICM's capital investments and prevailing market trends, which are driving demand in non-CBD markets like Cypress Creek,” Criddle tells GlobeSt.com. ICM purchased Cypress Executive Center in early 2015 and has repositioned the building into a class A office property via an aggressive building renovation program.

Located at 1901 West Cypress Road, the office building offers a surface parking ratio of 5.9 spaces per 1,000 rentable square feet, on-site management, and individually metered suites. ICM renovated of the building lobby, common areas, rest rooms and exterior landscaping, plus newly added amenities including a tenant Wi-Fi lounge, café and conference facility. The office building is just west of the Interstate 95-Cypress Creek exchange.

According to Cushman & Wakefield research, a tightening Downtown Fort Lauderdale office market has boosted suburban demand. Coupled with significant regional employment gains, the Broward County office market stands to see significant gains in the coming months.

“As the Downtown CBD becomes less of an option due to limited space, many suburban markets that have not peaked will become more attractive to those forced out of downtown due to the high asking rental rates and restricted space availability,” wrote CushWake senior research analyst Valerie Tatum in the firm's second quarter 2016 Broward County Office MarketBeat report. “With limited construction in the pipeline, Cushman & Wakefield anticipates market fundamentals to tighten through the back end of 2016.”