The Real Deal Miami

Lease roundup: Stiles secures first tenants for Fort Lauderdale office project & more

Lucky’s Market inks lease at Shops of Kendall and Sabre Centre I in Boca Raton reaches 80% occupancy
By Amanda Rabines | October 17, 2018 05:45PM

Rendering of The Main Las Olas, a Lucky’s Market and Sabre Centre I

Akerman, BBX Capital and Berger Singerman ink leases at the new Main Las Olas

Law firms Akerman and Berger Singerman and holding company BBX Capital just inked a total of 85,000 square feet of leases at what’s slated to become downtown Fort Lauderdale’s first new office tower in more than a decade.

Main Las Olas is a mixed-use project currently under construction on a 2.7-acre lot on the northwest corner of Southeast Third Avenue and East Las Olas Boulevard. A partnership led by Stiles Corp. and Shorenstein Properties is developing the project. Once complete, it will feature 357,000-square-feet of office space and a 341-unit apartment tower.

The companies are the first to sign leases at the project’s office component, which is slated for completion in the third quarter of 2020. Asking rents range between $40 to $45 per square foot, triple net. Stiles Realty is handling commercial leasing.

The office building is designed by architect Cooper Carry. The 10th-floor will feature an amenity deck with an open-air terrace. Other amenities include a fitness center, conference center and office lounge.

It’s penthouse office suite spans 16,000 square feet.

Stiles was also the developer of Fort Lauderdale’s last major office tower, 200 Las Olas Circle.
Completed in 2008, the 204,000-square-foot, 16-story mixed-use building at 200 Southwest First Avenue is the site of AutoNation’s headquarters. The company recently added 12 years to its lease.

Lucky’s Market secures 23,000-square-foot lease at Shops of Kendall

A Lucky’s Market is coming to the Miami suburb of West Kendall.

The grocery store retailer inked a 23,000-square-foot lease at the recently renovated Shops of Kendall at 12500 Southwest 88th Street. The store is expected to open in spring 2019.

RKF’s John Ellis and Aaron Labovitz represented the tenant. The landlord, Sterling Organization, was represented in-house by Adrian Jimenez.

Lucky’s will anchor the 99,422-square-foot shopping center and replace hhgregg’s former space. The household appliance retailer filed for bankruptcy last year.

Other retailers in the Shops of Kendall include CVS Pharmacy, Lime Fresh Mexican Grill, Anthony’s Coal Fired Pizza, Pincho Factory and Smoothie King.

There are 15 Lucky’s Markets in Florida and 33 stores nationwide.

Lamark Media brings Sabre Centre I to 80% occupancy

Digital marketing and advertising agency Lamark Media is moving to the Park at Broken Sound in Boca Raton.

The company just secured a 9,143-square-foot lease at Sabre Centre I at 5901 Broken Sound Parkway Northwest, bringing the building to 80 percent occupancy. Asking rents are at $20 per square foot, triple net, according to Darcie Lunsford of Butters Realty & Management.

Lunsford represented the landlord, G&C Sabre Centre Investors LLC. Zachary Talbot of Cresa South Florida represented the tenant. Lamark Media joins tenant Gift of Life Marrow Registry, which also recently inked a lease within the building.

The Park at Broken Sound is a 700-acre park in Northwest Boca Raton. Since it was rezoned in 2015, a number of developers have built or are building new apartment projects there.