Procacci Development Corporation, a full service real estate developer based in Boca Raton, has achieved Zurich Insurance HPR (Highly Protected Risk) certification. Procacci earned this certification by exceeding standards created to allow both structures and businesses the ability to weather significant storm events and sustain stability.
Stiles Realty announced today that Guarantee Insurance has signed a five-year lease expansion for 21,000 square feet of office space at the 408,079-SF Las Olas City Centre in downtown Ft. Lauderdale.
Lance A. Benson, Vice President, Grubb & Ellis Tenant Advisory Group, represented Independent Living Systems, a healthcare management services company, in a long-term lease of 34,080sf at 5201 Blue Lagoon Drive in Waterford at Blue Lagoon.
Commercial real estate broker, property manager and investor, Michael W. Rauch, has opened a new boutique brokerage, investment and property management firm, Rauch, Hartman, Sherer & Co., Chartered Commercial Real Estate Advisors, located in Boca Raton.
Marcus & Millichap has announced the sale of three properties in South Florida, including two office buildings, a shopping center and a multifamily property, totalling just over $15 million.
Dart Container Sales Company expanded and extended its lease for a total of 23,191 square feet and Your Home Advantage expanded its lease at the complex by 4,003 square feet to 6,483 square feet. With these two recent transactions Hillsboro Center–Office Tower is now 89 percent leased.
Jay Whelchel and Kristy Whelchel Hartofilis have joined forces to open Whelchel Partners Real Estate Services, Inc., specializing in leasing, property management, sales and other custom real estate services for the office, medical, retail, industrial and mixed-use sectors.
On Tuesday, the Palm Beach County Commission approved Transit Village LLC, a company managed by Boca Raton businessman Michael Masanoff, as the developer for the 5.7-acre site known as “the wedge.” The project calls for 600,000 to 950,000 square feet of office, educational and retail space, plus hotel and housing units.
Steven J. Medwin will head the Jones Lang LaSalle’s brokerage business for South Florida. His responsibilities will include managing the landlord and tenant representation teams for both office and industrial real estate.
Office leasing has increased each quarter this year, with banks and law firms making moves. This is a boost for Miami-Dade’s office market, which was slow in 2009. But new office buildings, coupled with fewer tenants coming into the market, are adding to vacancies, as existing tenants are signing most of the deals.