Cushman & Wakefield Tapped To Lease Downtown Fort Lauderdale Class A Office Complex

Cushman & Wakefield announced that it has been named exclusive leasing agent for Ivy Realty’s Tower 101, a two-building, 228,000-square-foot Class A office complex located at 101 NE 3rd Avenue in Downtown Fort Lauderdale.
The leasing team of Executive Director Travis Herring, Executive Director Deanna Lobinsky, Director Katherine Ridgway and Associate Chase Kulp will represent Ivy Realty, which acquired the buildings in January.
Tower 101’s two-building footprint is comprised of a 21-story, 175,000-square-foot office tower (Tower) and an adjacent six-story, 53,000-square-foot office building (101 Centre). The two institutional-quality buildings are connected via a common ground-floor lobby and feature Class A finishes throughout, on-site security and property management, a café, a community conference room and attached garage parking. The complex recently underwent a $4 million renovation that included full lobby and common area renovations as well as elevator and HVAC upgrades.
 

“Tower 101’s location in the thriving North of Broward neighborhood is ideal for a user looking to offer its workforce a live, work and play lifestyle,” said Herring. “This area has evolved into one of Downtown Fort Lauderdale’s most popular neighborhoods, and developers have taken notice. This will be one of South Florida’s most dynamic locations for years to come.”

Cushman & Wakefield research indicates that the Broward County’s Downtown CBD Market is exhibiting impressive market fundamentals.
 

“Class A space experienced a significant decrease in vacancy to 8.2 percent from 12.6 percent over the past 12 months,” wrote Senior Research Analyst Valerie Tatum in the firm’s 2015 Q4 Broward County/Ft. Lauderdale Office MarketBeat Snapshot. “Rental rates climbed 8.4 percent during the year in the Downtown CBD submarket. The office market in Broward County is in position to have above average performance in 2016 on tightening market conditions and positive economic trends.”

 

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