Royal Palm Office Park Finalizes Six Leases Amid Complete Renovations
- May 18, 2015
Royal Palm Office Park has completed six leases recently, totaling more than 55,400 square feet.
The transactions include five lease renewals with current occupants, and one new contract with a new tenant. Financial terms were not disclosed. Blanca Commercial Real Estate represented the landlord, an affiliate of Lincoln Property Co., while brokers with CBRE, JLL and Cresa spoke for four of the lessees in the transactions. The remaining leases did not involve co-brokers.
The 465,592 square foot Class A office campus is located on a 25-acre site at 900 & 1000 S. Pine Island Road in Plantation, Broward County. Just off Interstate 595, the complex is accessible via the Florida Turnpike, the Sawgrass Expressway as well as Interstates 75 and 95. The on-site amenity package includes garage and surface parking, conference center, gym, and cafe. The property is also connected to a range of shops, restaurants, hotels, recreational facilities, healthcare providers and residential areas.
The deals involved a new 10,400 square-foot lease with American General Life Insurance Co., an AIG subsidiary, along with five renewals which include agreements for 27,000 square feet with Thales USA Inc., 7,500 square feet with Setnor Byer Bogdanoff Inc., 4,900 square feet with El Ad National Properties, 2,900 square feet with Tobias Financial Advisors and 1,600 square feet with NCS Pearson.
A complete renovation of the office park is currently in progress, with upgrades to the lobbies, restrooms and corridors. New amenities are also being added, including an executive conference center/lounge supplementing the existing classroom-style conference center, and a fitness center.
Photo credits: Blanca Commercial Real Estate