Sacks Seals 15,500 SF In Exchange Deals

Oct 13, 2013 No Comments by

The Exchange six-building office complex in Fort Lauderdale has closed multiple recent transactions

At the office park located at 3303-3363 West Commercial Boulevard, call center and contact management services provider Talk2Rep has leased 9,228 square feet for its corporate offices, and the law firm of PeytonBolin, PL purchased a 6,240-square-foot office condo suite.  Asset manager and broker George Sacks, managing principal of Commercial Florida Realty Services, represented owner The Exchange of Fort Lauderdale LLC in the transactions.

“As Broward’s office market slowly strengthens, we’re seeing higher demand for small blocks of space in suburban locations,” Sacks said.  “We have activity from professional firms and marketing-related companies that need 10,000 square feet of corporate space or less and are anxious to lock in costs before economic conditions shift,” Sacks said. “They’re keenly aware of the market’s signals, with Broward property values recovering and lease rates starting to increase in some of the county’s Class A complexes.  They know interest rates will inevitably rise.”

The deals at The Exchange, which totals 174,473 square feet, bring the complex to 83 percent occupied.

Companies are running the numbers for lease vs. buy, based on their business models, Sacks said.  Tenants are securing today’s favorable leasing rates, and owner-buyers who anticipate stable space needs are moving quickly on low interest rates and the availability of up to 90 percent Small Business Administration (SBA) financing.

 

 

 

Law firm PeytonBolin, which represents condominium and homeowner associations throughout Florida, will relocate from Tamarac offices to The Exchange in December, according to founding partner Mauri Peyton.  “We’ve found the cost of ownership is not much higher than leasing, and the tax benefits are significant,” he said.  The law firm secured SBA financing through Paradise Bank.  “Local property values are trending upward,” Peyton said, “and we expect the Commercial Boulevard business corridor to grow.”

 

Talk2Rep, whose CEO is Jim Ryan, moved its corporate offices from Tamarac to The Exchange this summer. The company specializes in outsourced teleservices and live chat for multiple government agencies and recognized global brands such as AT&T, Casio, Bayer and more.

 

“The Exchange’s access to major roadways and Broward’s airports is convenient for our staff and clients,” said Ryan.  “Our needs were complex, including placing a generator on-site, and Commercial Florida Realty streamlined the process.”

 

The Exchange provides a park-like environment for its tenants and office condo owners, which include Securitas USA, the American Cancer Society, Saveology Corporate Headquarters and Interval Servicing.

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Broward County Office, Industry News, NA, Office
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