Avison Young Closes $4 Million In Deals In One Month

Avison Young completed 4 transactions totaling 42,600 square feet valued at $4 million in less than one month.
David Duckworth, Vice President of Investment Sales with Avison Young, facilitated the multimillion-dollar leases, representative of an uptick in “flight to quality” for small to mid-size tenants.
The transactions include:

  • Duckworth represented CHS Inc. in a 20,000-square-foot lease renewal in Miami Lakes.
  • Duckworth represented MAC Healthcare Group, LLC, in a new lease for 5,500 square feet at Flamingo Park of Commerce, located at 12002 Miramar Parkway in Miramar.
  • Duckworth represented Privid Eye Systems Corp. in a new lease for 6,600 square feet at Meridian Business Campus, located at 3265 Meridian Parkway in Weston.
  • Duckworth represented Boca Gallery Properties, LLC, ownership of Gallery Center, in a new lease transaction for 10,500 square feet to Consumer Education Group. The building is located at 604-622 Banyan Trail in Boca Raton.

 
“With vacancy decreasing across the board in South Florida, tenants are looking to lock in space today, before rates push higher,” said Duckworth. “The spur of activity we are seeing in the office and industrial submarkets is representative of the larger trend of positive movement in the overall market.”
According to recent market reports, small to mid-size tenants are still hesitant about the market but making moves as demand for space continues to increase, vacancy decreases and new construction is minimal. In turn, rental rates are beginning to push higher as noted by 6.6 percent year-over-year increase for Broward County industrial, a slight increase in Class B office in Palm Beach County and landlord concessions decreasing.
David Duckworth handled the $6.5 million sale of Gallery Center in July 2013 on behalf of the previous ownership. His team oversaw capital improvements to enhance curb appeal including painting, landscaping and new signage, and spearheaded the successful increase of occupancy at the Class B building.
 

 

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