First Lease Deal Signed at New Office Building Development
The 28,890-square-foot deal, announced by commercial brokerage firm Avison Young, is the first lease transaction signed at the more than 330,000-square-foot complex.
PEMBROKE PINES, FL—Aquila Software is consolidating operations in Fort Lauderdale and Medley into nearly 29,000 square feet of space at The Edison Pembroke Pines office development currently under construction here.
The 28,890-square-foot deal, announced by commercial brokerage firm Avison Young, is the first lease transaction signed at the more than 330,000-square-foot complex being developed by the TPA Group of Atlanta. Aquila Software, a worldwide group of software companies, maintains its corporate headquarters at 9675 NW 117th Ave. in Miami.
Construction on the project is expected to be completed this fall, a spokesperson for Avison Young tells Globest.com. Aquila Software is scheduled to take occupancy this fall and will employ approximately 150 workers at the Pembroke Pines location.
Avison Young principals Greg Martin and Justin Cope exclusively handle leasing at the Edison Pembroke Pines. Aquila Software was represented by Jason Carros of Stoltz Realty Florida.
The complex located along Interstate 75 on S.W. 145th Ave. is comprised of two three-story buildings and a 5,000-square-foot central amenity building.
“The lease represents a relocation in South Florida, as Aquila Software will consolidate offices from Fort Lauderdale and Medley into its new space at The Edison,” says Avison Young’s Martin. “The premier development caters to today’s workforce with its creative design and close proximity to the 400,000-square foot upscale lifestyle center, The Shops at Pembroke Gardens.”
Avison Young’s Carros adds that Aquila Software completed a full market survey before selecting the property and “was ultimately drawn to The Edison’s efficient floor plates, high ceilings, large window lines, abundant surface parking, and indoor and outdoor collaboration areas.”
Avison Young reports that Southwest Broward County, where The Edison is located, posted the lowest office submarket vacancy rate in Broward County at 6.66% as of the fourth quarter of 2018.
“The market continues to show robust interest in the quality product The Edison offers, particularly the unique design and large floor plate opportunities we are able to present to larger space users,” said Cope. “As construction draws closer to completion, we expect to announce additional lease agreements.”