New Office Building To Rise In Plantation For First Time In More Than A Decade

Apr 03, 2018 No Comments by

Colliers International South Florida has been selected as the exclusive leasing agent for University Professional Center, a new 63,600-square-foot office building that recently broke ground in Plantation.

The office leasing team of Alfie Hamilton and Caitlin Inklebarger was selected by the South Florida-based software development company, Chetu, for the new office project, which is the first new office building in Plantation since 2007.

Located at 1248 N. University Drive, University Professional Center will be a 3-story, Class A office within Plantation Key Office Park. The property will feature new construction, customization options and contiguous floor plates that will further distinguish the project from the submarket’s current inventory.

The building is the realization of Chetu, a leading provider of custom software development solutions, who has undergone continuous and exponential growth over the past 18 years. During this time, Chetu breached markets worldwide with over a dozen US offices and international outposts in India and the Netherlands. The University Professional Center represents an opportunity for further expansion, a dynamic space, capable of supporting Chetu’s growing, Florida-based team and paralleling the company vision.

 

“We are elated to be able to cultivate a state-of-the-art space that Chetu and other like-minded businesses can leverage as a base for operations,” stated Atal Bansal, CEO at Chetu. “This building cements Chetu’s commitment to regional expansion and underscores our dedication to the community we have called home since our founding in 2000.”

At the end of Q4 2017, Class A office space occupancy in Plantation had swelled to 93.7% and continues to tighten, adding pressure to the lack of available big blocks of available space in the market. There are currently only five Class A buildings in Plantation with 20,000 contiguous square feet or more available.

 

“The partners behind University Professional Center recognized an immediate need for more office inventory in the submarket where they were already working,” said Colliers Executive Vice President Alfie Hamilton. “Not only will this introduce compelling space options for firms looking to expand in Plantation, but it also provides Chetu with flexible growth opportunities.”

The building construction is expected to be complete by Q4 2018, and is approved for up to 26,800 square feet of medical office use. Located on University Drive, just south of Sunrise Boulevard, the new building will be adjacent to Plantation’s emerging technology cluster and within close proximity to Westside Regional and Plantation General hospitals as well as the Nova Southeastern University Medical School.

 

“The introduction of new Class A space into the market will create more momentum and synergies within Plantation,” added Leasing Associate Caitlin Inklebarger. “Medical office users or technology and professional service firms that wanted to be located near the hospitals or near Magic Leap headquarters, for example, will have new space options for the first time in more than a decade.”

 

 

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