Chetu Buys 178K-SF Asset for Global Headquarters

SUNRISE, FL – Global software provider, Chetu has acquired a 178,060-square-foot office property within Sawgrass International Corporate Park in Sunrise, FL. The firm plans to relocate its global headquarters to the recently-acquired property to accommodate its rapid growth.

The purchase represents one of the largest commercial real estate acquisitions in the city’s history.

Located at 1500 Concord Terrace, the five-story property faces the Sawgrass Expressway and is situated on 22 acres of land.

The property will feature technological innovations, including state-of-the-art communication infrastructure and advanced security features. The asset will also offer amenities, such as a full basketball and volleyball court, a walking path and modern fitness facilities.

Chetu will serve as the anchor tenant of the building, which will host the company’s team of software development, sales and marketing professionals. The property’s other floors offer suites available for lease.

The software provider expects to move into the new facility in Fall of 2021.

In 2019, Chetu completed construction on its current headquarters, a 63,600-square-foot property at University Professional Center, however, the firm’s recent rapid growth requires an expanded headquarters.

“The recent growth of our company has been incredible,” says Atal Bansal, founder and CEO of Chetu. “While we weren’t expecting to move into a new facility so quickly, it’s certainly a testament to the amazing work of our talented team around the globe and South Florida’s continued growth as a technology hub.”

Bansal adds, “We look forward to the impacts our new offices will have on the local economy as we continue to hire and augment our team from the growing amount of local talent.”

Newmark will exclusive lease the asset on behalf of the new owners. Newmark’s Jay Adams advised on the acquisition.