Tag Archive for: colliers

JLL Arranges Five Office Leases Totaling 34,000 SF At Presidential Circle In Hollywood

/in , /by

JLL announced the completion of several new leases, including relocations, extensions, expansions and renewals at Presidential Circle in Hollywood that drive total occupancy at the two-tower, Class A office complex to 88 percent.

Situated at 4000 Hollywood Blvd., the 281,625-square-foot office building has executed leases with new and existing tenants from financial services firms to medical office users ranging in size from approximately 2,963 to over 16,000 square feet.

JLL Executive Vice President Brady Titcomb represented the building’s ownership group, CDS Realty Investments, LLC.

“As top-tier office space in markets like Miami and West Palm Beach become scarce and more expensive, Hollywood is increasingly becoming the location of choice for companies looking for quality office space at a much more competitive price in South Florida,” said Titcomb. “An iconic property like Presidential Circle is perfectly situated for businesses across all industries looking to take advantage of its strategic location between both major interstates and within close proximity to Fort Lauderdale-Hollywood International Airport (FLL), the world’s second busiest cruise port and the nation’s fifth largest healthcare system.”

Among the new additions to Presidential Cricle’s distinguished roster of office tenants are:

  • Relocating from Downtown Miami, Air Charter Service, the world’s largest aviation brokerage, offering helicopters, private jets and executive airliner charters, as well as a huge range of small specialist aircraft for all business needs, signed a new lease for 5,425 square feet of space in the North Tower. Air Charter Service was represented by Tyler de la Peña of Colliers. (Tyler has recently joined JLL as Senior Vice President.)
  • AR Capital Group, a financial services company founded in 2014 with a mission to provide innovative solutions to clients’ commercial finance needs, will be relocating from another location in Hollywood and occupy 4,929 square feet in the North Tower.
  • Starlims, which delivers globally recognized laboratory information management systems and informatics solutions for cutting-edge labs, has renewed its lease and taken 10,385 square feet of space in the South Tower. Starlims was represented by CBRE’s Keith Edelman and Scott Goldstein.
  • Hazen and Sawyer, a firm that provides environmental engineering services to clients in the areas of water quality and supply, completed a 16,312-square-foot office lease renewal. The tenant was represented by Curtis Dean of CD Commercial Real Estate Services.
  • DermCare, a specialized practice management company designed for and by seasoned dermatology professionals, has renewed its 9,937-square-foot lease early for its corporate headquarters location. The full-service practice management company was represented by Tony Jones with Cushman & Wakefield.
  • For more than 70 years, NPC Financial has been helping individuals, families, and businesses make well informed decisions regarding their finances. The South Florida-based financial planner, represented by JLL Executive Managing Director Steven Hurwitz, extended its lease for 2,963 square feet of space in the North Tower.

“As the property’s ownership, we remain committed to continuing to reinvest in enhancing the office building to provide a best-in-class experience on a consistent basis for all of the esteemed companies that are tenants in our property,” added Eric Levy, Vice President of CDS Realty Investments, LLC. “The recent leasing success and number of renewals executed by the JLL team underscore tenants’ commitment to having their business address at Presidential Circle.”

Centrally located directly on one of Hollywood’s most traveled boulevards, Presidential Circle offers convenient access to Interstate 95 and Florida’s Turnpike. While the seven-story property features many on-site amenities including a café and banking center, additional restaurants and banking options are within walking distance including Jimmy Johns, Picadilly, Sub City, Wendy’s, Capones Italian, Il Posto, Sebastianos, and many more. ​Additional nearby retail options including shipping and office service stores include Target, CVS, Publix, Walmart, FedEx Office and UPS Store. Presidential Circle features a 24/7 lobby attendant and security, on-site property management and spacious conference facilities, in addition to a 4 to 1,000-square-foot parking ratio with covered options. Tenant-ready suites are also available for lease.

According to JLL’s latest office insight report for Broward County, development remains limited in Fort Lauderdale, with only T3 FAT Village East and West under construction. The office market exhibited a somewhat sluggish start to the year, however, rents continued their upward trajectory settling at $46.88 per square foot full service, marking an impressive 17.3% increase year-over-year.

 

MOB Trades For $577 PSF In Delray Beach

/in , /by

Colliers announced the sale of a fully leased medical office building for $9.67 million.

The state-of-the-art surgery center is located at 6646 W Atlantic Avenue in Delray Beach.

Colliers Executive Vice President Mark M. Rubin and Senior Vice President Bastian Schauer of the South Florida Investment Services Team collaborated with Executive Vice President Gary A. Gottlieb in representing the seller in the transaction. The buyer, Alliance Consolidated Group of Companies, LLC., was self-represented in the deal.

“With strong demand in the medical office market throughout Palm Beach County, this deal presented a compelling opportunity, supported by strong long-term tenancy in a vibrant market,” said Rubin.

The ±16,761-square-foot medical office building underwent a comprehensive renovation in 2020, transforming it into a modern healthcare facility. As part of this upgrade, a top-tier multi-specialty surgery center was added, featuring two fully equipped operating rooms and three treatment rooms. Additional capital improvements included a new HVAC system and a complete renovation of the common areas, enhancing operational efficiency and patient comfort. The building is fully occupied, with a reputable multi-specialty physician group anchoring the first floor, while the second and third floors are leased to a premier ambulatory healthcare provider.

“Ownership executed an exceptional renovation, successfully repositioning the property as a high-quality medical asset in the market,” said Schauer. “Its modern features, combined with a prime location near Delray Medical Center, offer direct access to top-tier healthcare services in a market defined by limited supply and growing demand.”

The surgery center is ideally situated in one of South Florida’s most desired and rapidly growing healthcare markets. It boasts direct frontage along Atlantic Avenue, a central east-west corridor with visibility to 41,500 vehicles per day. The property offers seamless access to Florida’s Turnpike and Interstate 95, facilitating connectivity to key healthcare hubs. Additionally, it’s well positioned for accessibility, with Palm Beach International Airport only 25 minutes away and the Fort Lauderdale Central Business District within a 35-minute drive, making it a convenient destination for patients and providers alike.

Palm Beach County’s medical office market remains a prime choice for investors, driven by strong fundamentals, high occupancy, and rising rents. Medical office properties continue outperforming other asset classes, with a 94% occupancy rate and rents surging 23.5% over the past five years. The sector has remained resilient amid economic shifts, supported by steady in-migration and increasing demand for healthcare services. This was reflected in the sale of this premier medical office surgery center at a record-breaking $577 per square foot, far exceeding the county’s 2024 average of $279 per square foot.

Broward Office Building Sells To Local Family

/in , /by

The largest office building in Northwest Broward County has a new owner.

EH University Place LLC, an entity controlled by Essig Holdings, has completed its purchase of University Place at 3111 N University Drive in Coral Springs. They are acquiring the building from a partnership led by Bristol Group, a leading real estate investment and development group based in San Francisco.

CBRE represented Bristol and its partner, Butters Construction & Development, in the sale for $3o million.

At 10 stories, the landmark 263,000-square-foot, Class A building visually dominates the city’s central commercial district, which spans along University Drive just south of Sample Road in close proximity to City Hall, Northwest Regional Library, Coral Springs Charter School, and the Broward Health Coral Springs hospital campus.

The Colliers South Florida office leasing team of Darcie Lunsford and Caroline Fleischer has been chosen to handle leasing and marketing of the asset.

The purchase will usher in a new wave of luxury office space and leasing opportunities for the suburban, residentially-dense communities of Northwest Broward.

“University Place is already the highest-quality and best-amenitized office building in the market,“ said Lunsford, who has been involved with the leasing of the building for a decade. “This new ownership will make it even better by reinvesting to deliver a level of well-appointed office interiors, typically reserved for uber-pricey downtown trophy towers.”  

Plans are already underway to build out ready-to-go, high-end office suites, aimed at serving businesses seeking the latest, most forward-thinking design elements to enhance the work experience.

“Bristol Group did a beautiful job in renovating the building. We look forward to enhancing it further in this thriving Coral Springs community,” said Dan Essig, President of Essig Holdings.

The Essig family has a long-standing real estate presence across the country in single/multi-family residential, industrial warehousing, self-storage, and other commercial properties, but is best known locally for founding Essig Pools and Artistic Paver Manufacturing. Essig Holdings is a father-son team with a focus on acquiring and improving commercial real estate assets across South Florida.

“We love Coral Springs,” Sam Essig, Vice President of Essig Holdings said, “We believe our plans will elevate University Place to the next level, setting a new standard for office space in the market.”

University Place is home to many of the region’s leading companies, including Cruise Planners, the nation’s lagest homebase travel agent franchise network, and popular restaurants, such as Tap 42 Craft Kitchen & Bar, Playa Bowls, and Embarcadero 41.

 

Construction Company Inks Sublease Deal For 20,000 SF In Downtown Fort Lauderdale

/in , /by

Core Construction Services of Florida has signed a sublease for a 20,000-square-foot office in Downtown Fort Lauderdale, taking over space previously occupied by Alms Health.

Located at 1 East Broward Boulevard, the sublease has 46 months remaining, according to Platinum Properties. Brokers Steven Evans and Brian Peer of Platinum Properties represented Alms Health in the transaction.

Listed at an annual rate of $24 per square foot, the total lease value is approximately $1.8 million, per a Platinum Properties representative.

Core Construction plans to open its new office on April 1 and intends to remain in the space beyond the sublease term.

Colliers’ Alfie Hamilton represented Core Construction in the deal, while Jeff Holding and Trent Slattery of Cushman & Wakefield represented Alms Health. Alms Health had occupied the office for nearly a decade.

Originally built in 1985, the 354,759-square-foot office tower was purchased by Pacific Coast Capital Partners (PCCP) in 2018 for $108.5 million, according to property records. Since 2023, the Los Angeles-based owner has invested at least $2.7 million in renovations to the 19-story building.

 

Source:  Commercial Observer

New Office Building Planned In Hollywood

/in /by

A new office building featuring small suites is being planned along Interstate 95 in Hollywood.

BSD 23 Development LLC, led by Avihu Nahari from Aventura, has submitted an application for a 41,000-square-foot property at 2910 Polk Street. The proposal was scheduled to be reviewed by the city’s Technical Advisory Committee on February 18. The developer purchased the empty lot for $2.5 million in 2023.

The proposed structure would span 61,492 square feet across four floors and include a separate five-story parking garage with 220 spaces. The office levels would consist of individual suites, varying from 232 to 1,500 square feet, equipped with shared restrooms on each floor. A cafeteria would also be available on the ground level.

This development targets South Florida’s many smaller businesses, which often seek compact office spaces. The project’s design comes from Itamar Goldenholz of Goldenholz & Associates in Sunrise.

Situated on the east side of I-95, just north of the Hollywood Boulevard exit, the site is in an area with few nearby office buildings.

A recent Colliers report for the fourth quarter shows Hollywood’s office market with an 8% vacancy rate and an average rental price of $36.39 per square foot. The market saw a positive uptake of 9,713 square feet in the same period, with no ongoing office construction in Hollywood. Notably, the only significant office development in Broward County is currently happening in downtown Fort Lauderdale.

 

Colliers Welcomes Seasoned Vice President To Drive Strategic Growth Initiatives

/in /by

Colliers announced that Michael Osiecki has joined the firm as Vice President based in South Florida.

In his new role, Michael will focus on providing quality office services out of the Boca Raton office.

“I am delighted to welcome Michael to our expanding team of best-in-class leasing professionals in South Florida,” said Dustin Ballard, Managing Director and Market Leader for Colliers South Florida. “He plays a crucial role for Colliers in our market by enhancing our agency and tenant representation leasing services in Palm Beach County. Mike’s client-first mentality and solutions-driven approach offers our clients a blend of institutional expertise and entrepreneurial spirit in leasing.” 

With 10 years of brokerage experience, Michael is recognized as a leading expert in office space throughout Palm Beach County. His versatility is a key strength, evident in his expertise in representing high-quality landlords and tenants. This adaptability has resulted in numerous successful transactions with well-known clients, including O’Connor Capital Partners, Blue Water Advisors, Altarock, Snowpoint Advisors, Charles Schwab, Silverman Group, the Muscular Dystrophy Association, PNC Bank, Wells Fargo Insurance, Edward Jones, Palm Equity, the University of Miami, Redbird Capital, and Harlan Capital.

Michael’s career in commercial real estate began as a financial analyst at ING Clarion Partners for the Lion Industrial Trust Acquisitions team.