SoFla lease roundup: Intech leaving CityPlace West Palm for One Clearlake Centre & more

Walmart is leasing an entire warehouse in Doral

Miami /
Oct.October 08, 2018 09:45 AM

One Clearlake Centre in West Palm Beach

Intech HQ to relocate to One Clearlake Centre in West Palm Beach

Global investment management firm Intech is making a big transfer.

The company is planning to move its headquarters out of Related Companies’ CityPlace Tower and into the 221,000-square-foot One Clearlake Centre office high-rise in West Palm Beach.

Intech inked a 25,000-square-foot lease and will be filling up the tower’s top two-floors, according to a press release. The deal also gives the company exterior signage. The firm, which has about $50 billion under its management, is scheduled to occupy its new space by September 2019.

The lease brings the 19-story office tower at 250 South Australian Avenue to 68 percent leased, with asking rents in the tower ranging from $40 per square foot to $45 per square foot, CREC’s leasing director Mark Goldstein said. Other tenants in the building include Richman Greer law firm, Rosenbaum Mollengarden PLLC, BB&T, Prudential and Northwestern Mutual.

Built in 1986, One Clearlake Centre includes a five-story, 662-space parking garage. CREC’s Carol Greenberg Brooks, Goldstein and Robert Dabrowski oversee leasing and management of the property.

Velocis, a private equity real estate manager, paid $42.3 million for the property in July with CREC. The joint venture invested millions into renovating the building, including revamping its lobby areas, corridors and bathrooms. The partnership also added a creative tenant lounge and offers tenants a new wellness program.

Bass Elements, others secure leases near Miami airport

Commercial 1 Realty just arranged more than 40,000 square feet of industrial leases in the Miami airport submarket valued at $1.9 million.

Bass Elements secured a 10,800-square-foot lease at Skyway Center at 6910 Northwest 12th Street, bringing the 200,530-square-foot building to full occupancy. The company manufactures and supplies aluminum frames and film for movie theaters.

Jesus Cortes of Commercial 1 Realty represented the tenant. Andrew Fernandez of CBRE represented the landlord, which records show is a company tied to Peter Lawrence Commercial Real Estate, Inc.

Daily Freight International Services renewed its 20,000-square-foot lease at Miami International Commerce Center for an additional five years at 1300 Northwest 78th Avenue in Doral. Cortes of Commercial 1 Realty represented the tenant. Jorge Suarez of MICC represented the landlord, PS Business Parks.

Furniture cushion manufacturer, Custom Craft, leased 10,000 square feet of industrial space at 7295 Northwest 64th Street. The 49,420-square-foot building is now fully leased. Cortes represented the tenant and Fernandez represented the landlord, Lesteiro & Sons.

Walmart fills up Doral warehouse

Walmart Inc. just signed a lease for 56,800 square feet in Doral. The retail giant will take the entire warehouse at 1430 Northwest 88th Avenue. Easton & Associates’ Jim Armstrong and Mike Waite represented the tenant.

Terreno Realty Corporation, a San Francisco-based public real estate investment trust, is the landlord. Records show it bought the warehouse as part of a larger portfolio sale in 2013 for $23.7 million.


Related Articles

arrow_forward_ios
Value Store It President Carlos Diaz with the two properties (Diaz)
Value Store It buys two Palm Beach County properties for $35M
Value Store It buys two Palm Beach County properties for $35M
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
Nicholas and Caroline Rafferty and 6709 South Flagler Drive, West Palm Beach (Getty/Patrick McMullan, Google Maps)
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
CityPlace Tower and Related Companies founder Stephen Ross (Related, Getty)
Related Companies buys West Palm Beach office tower for $175M
Related Companies buys West Palm Beach office tower for $175M
Joseph J. Plumeri and 1100 South Flagler Drive (Getty, The Bristol)
Former First Data honcho spends $17M for condo at The Bristol in West Palm
Former First Data honcho spends $17M for condo at The Bristol in West Palm
10688 Northwest 12th Street in Doral (Google Maps, iStock)
Bill Seidle’s Nissan dealership buys Doral building for $16M
Bill Seidle’s Nissan dealership buys Doral building for $16M
9455 Northwest 40th Street Road in Doral (Google Maps)
Cold-storage to classrooms: School pays $13M for Doral warehouse, retrofitting as campus
Cold-storage to classrooms: School pays $13M for Doral warehouse, retrofitting as campus
Raanan Katz of RK Centers and Best Buy at 1880 Palm Beach Lakes Boulevard in West Palm Beach (RK Centers and Orion Miami)
Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...