Avison Young announced today that it has been awarded another leasing assignment for a large portfolio recently purchased by Starwood Capital Group in Broward County.
The four-building, class A portfolio assignment, which adds approximately 375,000 square feet to Avison Young’s leasing portfolio, comprises Miramar Centre I and III at 3401 S.W. 160th Avenue and 3601 S.W. 160th Avenue, as well as Huntington Centre I and II at 2901 S.W. 149th Avenue and 2801 S.W. 149th Avenue in Miramar.
Starwood has assigned Avison Young Principal Greg Martin and Vice President Justin Cope, who are based in the real estate firm’s Fort Lauderdale office, as Starwood’s exclusive leasing agents for the four buildings.
“The ownership’s newest acquisition is reflective of the favorable investment market conditions in Southwest Broward – and, in particular, Miramar,” comments Cope. “With the second lowest vacancy rate in Broward at 11.4 percent and nominal new construction, Miramar is continuing to see rental rates rise as demand outpaces supply.”
This assignment comes less than six months after Avison Young was assigned to lease a 9-building portfolio totaling 940,319 square feet that Starwood is associated with in Broward County. Martin and Cope have since negotiated 100,000 square feet of new transactions and increased that portfolio’s occupancy to more than 90 percent leased.
Nearly three years since opening its first Florida office in October 2012, Avison Young has strategically grown its footprint from one office and 30 employees to representation in all key geographic locations within the state and 150 employees. Today, Avison Young represents 25 million square feet of agency office leasing assignments in Florida.
“The newly acquired assets complement Starwood’s existing portfolio and exemplifies its commitment to the South Florida marketplace,” says Martin. “We are pleased that ownership felt confident to extend our relationship further to include the new acquisition.”
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