Tower Commercial Real Estate Announces Downtown Fort Lauderdale’s Largest 2017 HQ Lease

Dec 14, 2017 No Comments by

Tower Commercial Real Estate announced Downtown Fort Lauderdale’s largest headquarters lease of 2017, with Convey Health Solutions leasing 33,630 square feet at One Financial Plaza, following a recent multi-million dollar renovation of the 28-story tower.

The major expansion by Convey Health Solutions, which is tripling its current space under a long-term lease, brings One Financial to 93 percent occupancy.

The Convey Health Solutions deal was brokered by Tower Commercial Real Estate on behalf of One Financial Plaza ownership Crocker Partners and Walton Street. Convey Health Solutions was represented by Ryan Nunes, formerly of CBRE, who recently joined JLL as Executive Vice President.

 

“Working with the ownership team, we were able to craft the economic and operational flexibility Convey needed to grow its downtown Fort Lauderdale presence,” Nunes said. With the expansion, Convey’s new tech center will further bolster the company’s mission of delivering superior client service and bring a state-of-the-art technology hub to Downtown Ft. Lauderdale.”

 

Laurel Oswald, Executive Director of Tower CRE, said, “Convey’s long term lease of three full floors at One Financial Plaza is a commitment that supports the updated building’s draw and prime, easy-access location within the CBD.”

The 263,250-square-foot One Financial Plaza features a high-end  tenant amenity conference center and fitness facility, newly renovated lobby and common areas and is home to the prestigious Tower Club on its top floor.

Tower CRE also announced 41,398 sf in recent leases with several other major tenants, including:

-Broad & Cassel, 15,276 sf renewal, represented by Richard Linevsky of NAI Miami
-RJ Reynolds, 11,213 sf renewal, represented by Rhetta Nussbaum of Newmark Grubb Phoenix Realty
-AXA Equitable Insurance, 10,184 sf renewal, represented by Barbara Libertore Black and Cameron Tallon of JLL
-Insperity HR Solutions, 4,725 sf new lease, represented by Will Portfolio of CBRE

Oswald noted that the Downtown Ft. Lauderdale office market has reached record high level rental rates and is approaching a 10 percent vacancy rate. Market conditions continue to strengthen, primarily based on a lack of new office construction and steadily declining vacancy. This trend is further supported by Broward’s unemployment rate of just 3.3 percent for September, the lowest in South Florida, a sign that companies are hiring and needing to expand their office space, she added.

 

“We continue to see strong interest in this market from Institutional Investors and companies new to this market based on these trends, as well as Downtown’s continued development as a thriving 24/7 live work and play environment,” said Oswald.  “Signs are everywhere in and around Fort Lauderdale’s CBD — thousands of residential units, a crop of new hotels and retail, redevelopment of the former Riverfront property, revitalization along Las Olas Boulevard, and preparations for the new Brightline trains.”

Tower CRE’s One Financial Plaza leasing team in addition to Oswald includes President Jon Blunk, Director Cristina Glaria and Associate Van Watson. With offices in Fort Lauderdale, as well as Miami and West Palm Beach, Tower CRE is exclusive leasing agent for One Financial Plaza and Crocker Partners’ buildings throughout South Florida. Overall Tower CRE has a leasing portfolio topping 3 million square feet of Class A office space.

 

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