Cushman & Wakefield announced today that it has negotiated ±25,000 square feet of office leases at Las Olas Square in downtown Fort Lauderdale. This leasing activity coincides with the groundbreaking for owner Steelbridge’s extensive renovations and repositioning of the CBD office campus.
The Cushman & Wakefield office leasing team of Executive Director Travis Herring, Executive Director Deanna Lobinsky, Director Katherine Ridgway and Associate Chase Kulp negotiated leases with Esquire Deposition Solutions, Raymond James & Associates and The A.D. Henderson Foundation on behalf of Steelbridge. The team also negotiated Cushman & Wakefield’s own expansion in the building.
Las Olas Square is a Downtown Fort Lauderdale office campus originally developed in 1992. It comprises SunTrust Center at Las Olas Square, a 17-story office tower at 515 East Las Olas Boulevard, and 501 at Las Olas Square, a ±50,000-square-foot, three-story mixed-use building at 501 East Las Olas Boulevard. The project also includes a five-story structured parking garage and offers 24-hour security, on-site banking, an on-site café and excellent views of the Atlantic Ocean and New River.
Steelbridge has begun significant renovations at Las Olas Square, including the redevelopment and modernization of 501 at Las Olas Square. Steelbridge will refinish this building’s exterior with a clean, contemporary, all-impact glass facade while updating the lobby and interiors as well as mechanical and life-safety systems. The plaza between the tower and mixed-use building will be converted to an attractive urban square designed to serve as a gathering place for tenants and the general public. Steelbridge also plans to upgrade the lobby and common areas in SunTrust Center at Las Olas and make improvements to the connected parking garage. Views from a live construction camera are available on the property’s web site.
Detailed information about each of the aforementioned leases can be found below:
Esquire Deposition Solutions
Herring, Lobinsky, Ridgway and Kulp negotiated the renewal of Esquire Deposition Solutions’ 8,092-square-foot lease at SunTrust Center at Las Olas Square in January.
Atlanta-based Esquire Deposition Solutions is a global provider of legal deposition services with 12 offices throughout the state of Florida. The firm, which has been a tenant at Las Olas Square since 2011, renewed its lease on the 13th floor and is expected to make minor improvements to its existing space.
Esquire Deposition Solutions was represented by Stone-Miller in the lease negotiations.
Raymond James & Associates
Herring, Lobinsky, Ridgway and Kulp negotiated the renewal of Raymond James & Associates’ 7,503-square-foot lease on the eighth floor of SunTrust Center at Las Olas Square in August.
Raymond James is a diversified financial services firm, focused on providing trusted advice and tailored, sophisticated solutions for individuals and institutions. It employs 16 financial advisors and six support staff in this office.
Cushman & Wakefield
In Septemer, Cushman & Wakefield expanded its presence at SunTrust Center at Las Olas Square from 2,000 square feet to 7,305 square feet. Herring, Lobinsky, Ridgway and Kulp represented Steelbridge in the lease negotiations. Cushman & Wakefield was self-represented by its tenant representation team of Executive Director Jeff Holding and Senior Director A.J. Belt.
Cushman & Wakefield currently houses nine employees in 2,000 square feet on SunTrust at Las Olas Square’s eighth floor. The firm is expected to consolidate several local satellite offices and approximately 30 Broward County brokerage and support employees into the new space on the ninth floor by the end of the year.
A.D. Henderson Foundation
Herring, Lobinsky, Ridgway and Kulp negotiated the renewal of the A.D. Henderson Foundation’s 1,326-square-foot lease on the ninth floor of SunTrust Center at Las Olas Square in May.
The A.D. Henderson Foundation was founded in 1959 by Alexander D. and Lucy E. Henderson and supports early learning and strives to improve the quality of education for children ages birth to five in both Broward County and Vermont.
Additionally, Berkowitz Pollack Brant expanded on the 16th and 17th floors of SunTrust Center at Las Olas Square.
Established in 1980, Berkowitz Pollack Brant is a certified public accounting firm with offices in Miami, Ft. Lauderdale, Boca Raton, West Palm Beach and New York. It is one of the largest accounting firms in South Florida and one of the top 100 firms in the United States. Berkowitz Pollack Brant employs 90 consultants, accountants, forensic specialists and other professionals in the SunTrust Center at Las Olas Square.
Barabra Liberatore Black of JLL represented Berkowitz Pollack Brant in the lease negotiations.
Steelbridge is a Chicago- and Miami-based value focused real estate investor and real estate services provider, with special expertise in markets with high job growth and strong natural barriers to entry like Florida. It is dedicated to acquiring real estate — either through debt or equity or private or public markets — whose values have been temporarily discounted due to supply/demand imbalances in real estate capital, space or information markets and whose values can be significantly enhanced through redevelopment and repositioning. Please visit us at www.steelbridge.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com