The Real Deal Miami

South Florida lease roundup: 1801 Building in Plantation reaches 100% occupancy & more

New leases also at Boca Raton Innovation Campus and Boca Village Corporate Center
By Amanda Rabines | October 30, 2017 08:45AM

From left: 1801 Building, Boca Raton Innovation Campus, Boca Village Corporate Center (Credit: Colliers International and Cushman & Wakefield)

1801 Building in Plantation reaches 100 percent occupancy

A subsidiary of Envision Healthcare Corporation just inked an 89,140-square-foot office lease at the 1801 Building in Plantation, according to the firm that brokered the deal.

The lease brings the building at 1801 Northwest 66th Avenue to 100 percent occupancy, and is valued at more than $20 million, according to a release.

Envision Healthcare Corp. is a physician-led outsourced medical services provider that operates throughout the nation. The 1801 Building in Plantation is close to a number of other Envision locations in South Florida, according to the release.

Colliers International’s South Florida’s Alfie Hamilton, Caitlin Inklebarger and Jarred Goodstein represented the property’s owner, TA Realty. Property records show TA Realty bought the building in 2007 for $11.8 million. Alex Brown of Cresa South Florida represented the tenant.

Built in 1983, the two-story building underwent a series of renovations this year to the lobby, common areas, elevator and parking lot, according to the release.

In all, 1801 Building has about 105,000 square feet of space, records show.

Integrated Dermatology Group inks 24,000-square-foot lease at Boca Raton Innovation Campus

Integrated Dermatology Group inked a 23,630-square-foot lease at 4700 Exchange Court in the 123-acre Boca Raton Innovation Campus, according to the firm that brokered the deal.

IDG, based in Boca Raton, owns, manages and operates dermatology practices throughout the nation.

Cushman & Wakefield’s John K. Criddle and Joseph J. Freitas represented the sub-landlord, according to the release. The space at 4700 Exchange Court features an executive wing, five executive offices, conference room, staff offices, break room and storage.

Next Tier HD, a real estate investment firm based in New York, bought the complex from the Blackstone Group in 2015 for an undisclosed price.

BRIC was developed in 1970 by IBM as its North America Research and Development facility.

In July Modernizing Medicine, a Boca Raton-based health technology company, signed a 50,000-square-foot lease in the complex. It was one of the largest lease deals in Palm Beach County this year, according to JLL.

The Class A office complex is also home to Tyco Security, Verizon Wireless and Everglades University.

Boca Village Corporate Center wins 25,000-square-foot lease

Amid the construction of its new headquarters in Boca Raton, the GEO Group, a real estate investment trust, has inked a 24,914-square-foot lease at the Boca Village Corporate Center, according to the firm that brokered the deal.

GEO is currently constructing its new corporate headquarters at 4955 Technology Way in Boca Raton, about half a mile southwest of its current headquarters at One Park Place on Northwest 53rd Street.

Geo is expected to move into the Boca Village Corporate Center the first quarter of 2018, according to a release. The company bought the site for its new headquarters in March 2016 for $9.9 million, records show.

Cushman & Wakefield’s John K. Criddle and Joseph J. Freitas represented the building’s owner AGS Properties Corporation. Jay Whelchel of Whelchel Partners represented the tenant.

Geo specializes in the design, financing, development and operation of correctional, detention, and community reentry facilities. The company provides monitoring services to government agencies worldwide, with operations in the United States, Australia, South Africa, and the United Kingdom.

Boca Village Corporate Center is a 108,550-square-foot Class A office building developed in 2008. The seven-story building features five stories of office space and three floors of attached parking. The building is LEED Silver-certified by the U.S. Green Building Council.

Boca Village Corporate Center is currently 91.3 percent leased, according to the release. Notable tenants include Morgan Stanley, Oppenheimer and Gunster.