• South Florida

Cushman & Wakefield’s Criddle and Freitas to Lease Atrium West Office Building in Sunrise, Florida

Douglas Pike Associates Selected Director John K. Criddle and Associate Joseph J. Freitas to Lease the 92,689-Square-Foot Class A Office Building in Sunrise


Atrium West - Sunrise, FL

SUNRISE, Florida – Cushman & Wakefield announced today that it has been named exclusive leasing agent for Atrium West, a 92,689-square-foot Class A office building in Sunrise owned by Douglas Pike Associates.

Senior Director John K. Criddle and Associate Joseph J. Freitas were selected to lease the building, which Douglas Pike Associates acquired in early January 2015 for nearly $11 million. Atrium West is currently 88 percent occupied with an asking rent of $12.50 NNN. Notable tenants include Wells Fargo, the State of Florida, the U.S. government’s General Services Administration, Dow Jones & Co. and Sharp Electronics.

Atrium West is a completely renovated, two-story suburban office building situated on seven acres at 7771 West Oakland Park Boulevard. The building features an impressive two-story atrium lobby with a central water feature, abundant parking, Class A common areas and lush landscaping.

Atrium West is located just minutes from Florida’s Turnpike, Sawgrass Expressway and Interstate 95. It is within walking distance of Park North and Park South Plazas, which provide tenants convenient dining and shopping options.

“The Sunrise office market is one of the tightest submarkets in all of Broward County,” said Criddle, referencing the area’s below-market vacancy rate of 8.8 percent. “Atrium West offers companies a high-quality corporate environment while collocating alongside other prestigious tenants in one of South Florida’s hottest markets.”

Cushman & Wakefield research has documented strong fundamentals across the board for the Broward County office market and foresees continued growth in the near term.
“Broward County’s office market approached an eight-year vacancy rate low of 11.7 percent, falling 6.8 percentage points since the end of 2009,” wrote Senior Research Analyst Valerie Tatum in the firm’s 4Q 2015 Broward County Office MarketBeat Snapshot.

“New supply remained unchanged and strong positive absorption signaled the fourth consecutive year of healthy demand.”

 

“Leasing activity totaled 1.4 million square feet year-to-date, as many tenants expanded their space or moved into the market,” added Tatum. “Class A space experienced a significant decrease in vacancy to 8.2 percent from 12.6 percent over the last twelve months.”

 

“The office market in Broward County is in position to have above average performance in 2016 on tightening market conditions and positive economic trends,” concluded Tatum. “Construction will likely pick up as tenant demand strengthens and the lack of space options in the market increase.”


For Further Information Contact:

John K. Criddle
Senior Director
Cushman & Wakefield
+1 954 377 0465
John.Criddle@cushwake.com

Joseph J. Freitas
Associate
Cushman & Wakefield
+1 561 419 7921
Joseph.Freitas@cushwake.com

Valerie Tatum
Senior Research Analyst
Cushman & Wakefield
+1 954 377 0465
Valerie.Tatum@cushwake.com

 

Media Contacts:

David A. Meyer
+ 1 407 489 7488
david@meyer.media

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