Lease roundup: Motorsport Network to relocate to Magic City and more
Butters completed two leases at Hillsboro Technology Center & Katz and Comras strike Bowlero deal
Magic City Innovation District – Little Haiti announced that Motorsport Network will relocate its headquarters to the development.
The organization will consolidate its existing Miami, Charlotte and Orlando offices into the top three floors of a new building at 5972 Northeast Fourth Avenue in Miami, according to a release. The 12-story office building will have over 370,000 of leasable square feet and will be the first new office building at Magic City. Motorsport will also incorporate its Motorsport Games business as a tenant with its website Motorsport.com.
Recently, Lemon City Group LLC purchased a commercial development parcel from Magic City, which aims to revitalize 18 acres of industrial and vacant land in Little Haiti. The project consists of residential, office, retail and hotel uses.
Hillsboro Technology Center
Hillsboro Technology Center, an industrial park in Deerfield Beach, has signed two new long-term leases.
Butters Realty & Management’s Thomas J. Hotz and Brian T. Ahearn represented the business park in the deals, according to a release.
Haircare company Keratin Complex leased 55,134 square feet in Building F at 550 Hillsboro Technology Drive. Keratin Complex was represented by Ken Morris and Adriana Lilly of Morris Southeast Group, LLC.
Boca Terry LLC, a family business that produces custom made bathrobes, embroidered slippers, and spa products, relocated its Broward corporate office and leased 16,790 square feet in Building East at 500 Hillsboro Technology Center Drive. Boca Terry was represented by Rick Etner of Cushman & Wakefield and Adam Talbot, formerly of Cushman & Wakefield.
Hillsboro Technology Center is a co-development between Bristol Group and Butters Realty & Management. With these two leases, only two available units totaling 35,000 square feet remain available at the business park. As part of the final phase, Bristol Group & Butters plan to deliver two new warehouse buildings in 2021, which will add an additional 300,000 square feet of industrial space at Hillsboro Technology Center. Once completed, the business park will have over 1 million square feet of Class A commercial space.
Bowlero in Boca Raton
Roxanne Register and Jon Cashion of Katz & Associates represented the landlord, and Jeff Evans and Michael Silverman of the Comras Company represented Bowlero in a long-term lease for 62,000 square feet in Boca Raton.
According to a release, it is the largest retail deal completed in Palm Beach County so far this year. Bowlero, the nation’s largest bowling operator, is targeting 2021 to open the new facility.
Bowlero is converting the vacant Strikes bowling alley at 21046 Commercial Trail into a high-end bowling and entertainment venue featuring blacklight bowling, interactive arcade games, and an imaginative and extensive menu and signature cocktails.
CocoWalk in Coconut Grove, which expects a phased reopening to begin later this fall, added three new retail brands to its tenant roster: Free People Movement, a women’s activewear brand from Philadelphia; Europann, a men’s luxury apparel line from Saint-Tropez; and Late Night Gypsy, a repurposed vintage clothing brand from Los Angeles, according to a release.
The redevelopment of CocoWalk includes 150,000 square feet of retail, dining, and entertainment space and is nearly 80 percent leased. The revitalization also features an 85,745-square-foot, class A office building, One Cocowalk, which is 85 percent leased. The five-story office building, which is nearly completed, has signed creative co-working pioneer Spaces, private equity firm Boyne Capital, development firm American Land Ventures, and international law firm Weinberg, Wheeler, Hudgins, Gunn & Dial, LLC.
The mixed-use project is led by majority partner Federal Realty Investment Trust, along with the Comras Company and Grass River Property.
Berger Commercial Realty/Corfac International’s Keith R. Graves and John Forman represented landlord Prologis-North Carolina Limited Partnership in a 22,610 square-foot lease for Slate Solutions at Prologis I-595 at 7050-7060 West State Road 84 in Davie, according to a release.
Slate Solutions, LLC, which will be relocating from Sunrise, provides law enforcement, federal agencies, international agencies and OEM partners with protective gear.
Tower Commercial Real Estate represented the tenant in the lease.