Ft. Lauderdale, FL; November 19, 2010 – In the busiest stretch for new commercial lease activity since the recession struck,
Ken Morris, SIOR and President of
Morris Southeast Group/CORFAC International announced the completion of over 43,000 square feet of closed transactions in seven leases during a recent 30-day period. Of the seven leases, five were new deals in which the tenants relocated from a previous location, one was a renewal at an existing location and one of the transactions included a new tenant to the marketplace.“After the summer doldrums, activity suddenly went ballistic. But the real difference is that businesses were far more decisive than they have been in the past 18 months, and they made the deals happen. It’s as if they’ve been suffering from ‘limbo fatigue’ and decided to get on with their lives and businesses and do something. I think the worst is over for Broward County commercial real estate,” said Ken Morris.
- Ken Morris, SIOR and Korena Rivers represented FG Deerfield Partners for the 350 Jim Moran Blvd. Building located at 350 Jim Moran Blvd, Deerfield Beach, FL in its lease to Elizabeth R. Wellborn, P.A. (a law firm representing banks in Foreclosure filings) for 14,137 rentable square feet for a 66 month lease. The tenant was represented by Danielle Vennett of Grubb & Ellis Company and is expected to take occupancy in the 4Q of 2010.
- Ken Morris, SIOR represented VoiceRite Communications in its lease for 8655 square feet at the Airport Corporate Park located 4101 Ravenswood Road, Ft. Lauderdale, FL. VoiceRite is a software company that provides solutions to the telecommunications sector and information can be found at www.voicerite.com. The Landlord represented itself in the transaction. VoiceRite is expected to take occupancy at the end of December 2010.
- Lois Paskow, RPA represented Micari Holdings (Landlord) in its 60 month lease for 8,000 rentable square feet at the 1830 Main Street Building which is located in the Weston Town Center project to Ultimate Software which is a payroll software company headquartered in the Weston Town Center. Ultimate Software is expected to take occupancy late 4Q or early 1Q 2011. There was no co-broker involved in the transaction. Ms. Paskow worked on this transaction for over three years and finally was able to complete it for her client.
- Lois Paskow, RPA and Ken Morris, SIOR represented Sawgrass Business Center LLC (Landlord) in its 64 month lease with Agilent Technologies for 3,511 square feet at the Sawgrass Business Plaza located at 13798 NW 4th Street, Sunrise, FL. Agilent is a publicly traded company in the telecommunications sector and is a new tenant in Broward County. Agilent was represented by Tad McDonough of USI Real Estate in Jacksonville, FL.
- Ken Morris, SIOR represented the Landlord 1776 Associates, LTD in its 63 month lease with the well known West Broward gastroenterology practice of Hahn & Adler, P.A. for 2,872 rentable square feet in the Bank of America Plaza located at 1776 North Pine Island Road, Plantation, FL. There was no co-broker representing the Tenant. The tenant will take occupancy in the 1Q of 2011.
- Ken Morris, SIOR represented the Landlord 1776 Associates, LTD. in its 63 months lease with Gastrocare Pathology, LLC which is a related entity to Hahn & Adler for 890 rentable square feet on the 3rd floor of the building known as the Bank of America Plaza located at 1776 North Pine Island Road, Plantation, FL 33322. There was no co-broker representing the tenant and occupancy is expected in 1Q 2011.
- Ken Morris, SIOR represented the Landlord 1776 Associates, LTD in its 72 month lease renewal and expansion with the law firm of Goldberg & Associates for 5,134 rentable square feet in the Bank of America Plaza located at 1776 North Pine Island Road, Plantation, FL 33322
For more than 30 years, Morris Southeast Group/CORFAC International has been recognized as one of South Florida’s leading providers of commercial real estate services. Located in Plantation Morris Southeast Group is a full-service firm specializing in owner and tenant representation, corporate services and investment sales in the office, industrial and retail sectors throughout Miami-Dade, Broward and Palm Beach Counties. Morris Southeast Group is a member of CORFAC International.For more information, contact Ken Morris, president of Morris Southeast Group/CORFAC International at (954) 474-1776 or visit www.morrissegroup.com.
About CORFAC InternationalCORFAC International is one of the largest commercial real estate services organizations in the world and celebrates its 21st year in 2010. U.S.-based CORFAC (Hollywood, FL) is comprised of privately held entrepreneurial firms serving more than 150 markets in The Americas and internationally through alliances with UK-based King Sturge, BDIin Mexico,Rios Commercialin Puerto Rico and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million square feet and valued each year in excess of $30 billion. For more information on CORFAC contact 954-923-6160, info@corfac.com or visit www.corfac.com.
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