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South Florida

Avison Young secures 940K sf lease contract in Broward

Class A office buildings that were part of the $175M transaction
Class A office buildings that are part of Avison's lease contract

A 940,319-square-foot office portfolio that spans nine existing Class A buildings and a 6.2-acre vacant lot marks the largest office lease assignment in Florida recently.

Avison Young secured the leasing assignment from the owners — Starwood Capital, Trinity Capital Advisors and Vanderbilt Office Properties — according to a press release.

The vacant lot is zoned for a three-story, 87,000-square-foot office building. The properties are 89 percent occupied with more than 100,000 square feet available for lease and an additional 90,000 for sublease.

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Avison principal Greg Martin and vice president Justin Cope are the leasing agents.

The portfolio includes: Crossroads Business Parks 1-4 in Plantation, Sawgrass Commerce Center A and B in Sunrise, Sawgrass Pointe I and II in Sunrise and Park Central Building 1 in Pompano Beach.

“This portfolio of buildings is a great complement to the existing assets that we have been servicing. We look forward to working with this new to market ownership group and helping them accomplish their overall investment goals,” Martin said in the press release. “One of the unique aspects of this portfolio is the opportunity to build another building in Sunrise, Sawgrass Pointe III. We are confident that the market dynamics are reaching a point where new construction is close.” — Katherine Kallergis

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