The Real Deal Miami

Las Olas City Centre 100 percent leased

Early renewals accounted for 80 percent of the leases

May 19, 2015 06:00PM

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Bank of America Las Olas City Centre

Bank of America Las Olas City Centre

Nearly 120,000 square feet in new leases and renewals brings the Bank of America Plaza at Las Olas City Centre to 100 percent leased, according to Stiles Realty.

Early renewals accounted for 80 percent of the leases, Stiles Director of Leasing Norm Adams said in a press release.

“The downtown Fort Lauderdale market, similar to downtown Brickell, is in high demand,” Adams continued. “A business on Las Olas or Brickell makes a comment on the quality and lifestyle of their business. It’s a recruiting and business development tool that the tenants utilize.”

Patriot National renewed its 36,537-square-foot lease and expanded by an additional 13,592 square feet. Guarantee Insurance Group renewed its 10,168-square-foot lease, as did Greenberg Traurig for 48,790 square feet.

The 408,079-square foot Class A office tower at 401 East Las Olas Boulevard is LEED certified and includes a ground floor restaurant and retail space. Stiles completed the building, which is owned by institutional investors, in 2001. The LLC paid $163.7 million for the property in July 2011, according to Broward County property records. — Katherine Kallergis