The Real Deal Miami

Insurance broker’s lease bucks Broward trend

The county has seen occupancy of office space slip in recent years
August 06, 2013 12:00PM

2400 East Commercial Blvd., Fort Lauderdale

2400 East Commercial Blvd., Fort Lauderdale

Insurance broker USI has inked a lease for 17,400 square feet at Coastal Tower in Fort Lauderdale, bucking the trend of Broward County’s growing vacancy rate in office space.

Leasing at Coastal Tower, which is owned by California State Teachers’ Retirement System, has actually seen a shrinking vacancy rate in 2013. USI, the ninth largest insurance broker in the U.S., represents the 10th new lease or expansion at the tower this year, bringing occupancy to 83 percent, according to leasing agent CBRE.

Located at 2400 East Commercial Boulevard, Coastal Tower is a LEED and Energy Star Certified, Class A office building with on-site security, a café, a common conference room, separate freight elevators, car wash and dry cleaning services, and an attached parking garage with free visitor and tenant parking, CBRE said in a release.

“We have been fortunate to attract many office users in the market primarily because businesses are looking for dependable property ownership and great on-site amenities like fitness centers and food services, all of which Coastal Tower offers,” CBRE First Vice President Travis Herring said in the release. Herring along with Senior Vice President Deanna Lobinsky and associate Katherine Ridgway are the tower’s exclusive leasing agents. — Emily Schmall