Cushman & Wakefield announced today that it recently has negotiated nearly 185,000 square feet of office leases at BayView Corporate Tower.
The office leasing team of Executive Director Deanna Lobinsky and Associate Chase Kulp negotiated seven leases totaling 183,666 square feet for building owner New Boston Fund.
Recent BayView Corporate Tower leasing transactions include:
- Salt Lake City-based CHG Healthcare Services, one of the largest providers of healthcare staffing in the United States, renewed its existing lease of 84,112 square feet and expanded by another 33,664 square feet. CHG is the largest tenant in the building at 117,776 total square feet. Barbara Liberatore-Black and David Preve, formerly of CRESA, repped CHG locally.
- EnvisionRx, a leading pharmacy benefit manager and subsidiary of RiteAid, relocated its South Florida offices from downtown Fort Lauderdale to BayView Corporate Tower, leasing 23,026 square feet. EnvisionRX is expected to relocate 100 employees to the new location in October. Cushman & Wakefield Executive Director Jeff Holding and Director A.J. Belt represented EnvisionRx in the lease negotiations.
- Kovack Securities Inc., a platform provider for independent financial advisors, renewed it existing lease of 13,767 square feet and signed a 3,002-square-foot lease expansion, bringing its total in the building to 16,769 square feet. Holding and Belt represented Kovack.
- Alpine, a division of Illinois Tool Works (ITW) and leading supplier of building components, leased 12,705 square feet. It subsequently expanded that space by 1,306 square feet and now occupies a total of 14,011 square feet in BayView Corporate Tower. Holding and Belt represented Alpine.
- Maryland-based TEKsystems, a subsidiary of Allegis Group, a leading provider of IT staffing, IT talent management and IT services, leased 8,864 square feet.
- The Miami Association of Realtors leased 1,625 square feet.
- Strategic Asset Management Group, a Fort Lauderdale-based financial advisor servicing high-net-worth individuals, municipalities and corporations, leased 1,595 square feet.
BayView Corporate Tower is located at 6451 North Federal Highway.
“We’ve seen tremendous interest from prospective tenants at BayView Corporate Tower,” said Lobinsky. “The market is tightening, and this is one of the few Class A office buildings in Broward County capable of accommodating users of all sizes.”
According to Cushman & Wakefield research, demand for Class A office space has increased in Broward County while the supply of available space dwindles.
“Broward County’s office market fundamentals improved during the first half of the year, especially in core suburban submarkets,” said Senior Research Analyst Valerie Tatum. “Demand for office space, especially class A, remained strong although constrained due to lack of new construction. For Cypress/Commercial Boulevard, the overall vacancy rate has steadily declined over the past two years, falling over 2.0 percentage points during that time.”
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