Sunday, February 28, 2016

T&M Florida Snags Two Renewals at Sawgrass Corporate Park in Sunrise, FL

Sawgrass International Corporate Park, Sunrise, FL

Jennifer Gemma
 Sunrise, FL --  T&M Florida has secured 18,500 square feet of renewals at Sawgrass International Corporate Park in Sunrise, FL  following M-M Properties’ $75 million purchase of the four building office portfolio.

 The new ownership’s focus now centers on leasing the portfolio’s remaining 7% of available space including a full floor of 24,000 square feet.

 “With the limited supply of new and existing Class A office space in the Sawgrass market, it’s getting harder and harder for companies to find large contiguous amounts of space,” said Joel McCarty Senior Vice President of M-M Properties. “Office rates will continue to rise as supply dwindles.”

The portfolio’s centralized location with access to both the Fort-Lauderdale-Hollywood and Miami International Airports make it an ideal location for corporate headquarters and regional offices. 

Donna Korn and Jennifer Gemma of T&M Florida negotiated the two recent renewals on behalf of the buildings’ owner.

Bureau Veritas renewed an 11,500 square foot lease at 1601 Sawgrass Centre. The company is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has around 66,700 employees located in 1,400 offices and laboratories around the globe. Rod Loschiavo and Lauren Gallart of JLL represented the tenant in the transaction. 

Donna Korn
All Risks, LTD renewed a 7,000 square foot lease at 1551 Sawgrass Centre. The insurance company headquartered in Hunt Valley, Maryland, is the largest national independent wholesale brokerage firm. 

The 51-year-old firm employs over 750 staff members throughout the U.S. CBRE brokers Jeff Holding and A.J. Belt represented the tenant in the transaction.

The four buildings within the M-M Properties portfolio are located at 1550-1560 and 1551-1601 Sawgrass Corporate Parkway. They total 348,676 square feet on 28.1 acres within the Sawgrass Park submarket of Broward County.

The properties are 93 percent leased to tenants such as Centene Management, eFund Corporation, Regus Business Centre, and Marsh USA, Inc. 

The office park is close to Interstates 75 and 595, just southwest of the second most visited attraction in Florida, the Sawgrass Mills Mall, an area which sees more than 25 million 
visitors per year.

Lauren Gallart
T&M Florida is a diversified real estate company specializing in the development, marketing and management of office buildings, suburban office parks, industrial parks and mixed-use projects The company leases and/or manages a portfolio over 12 million square feet throughout the state with offices in Sunrise, Miami, West Palm Beach, Tampa, Jacksonville and Orlando.

M-M Properties is a privately held real estate investment firm that seeks to provide exceptional risk-adjusted returns to its investors through superior execution of carefully developed strategies. M-M Properties’ senior management have worked together for long tenures ranging up to 20 years through several public and private real estate investment companies. 

M-M Properties’ team has deep experience throughout real estate market cycles and multiple project phases including acquisition, disposition, recapitalization, development, and investment management across a broad range of property types and within all major U.S. markets. 

The company or its principals have engaged in real estate investment activities on behalf of investors, partners or for its own account across a portfolio of assets that has included 36 million square feet of office projects and almost 17,000 multifamily units with a cumulative transaction volume of approximately $8.6 billion.

For a complete copy of the company’s news release, please contact:

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