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| Sawgrass International Corporate Park, Sunrise, FL |
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| 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.
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| 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.
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| 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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