• South Florida

Gramercy Property Trust Selects Cushman & Wakefield to Lease Plantation Corporate Center I


John K. Criddle, Gordon Messinger and Joseph J. Freitas Lead Agency Leasing for Rare Full-Building Opportunity

Plantation Corp Ctr I

PLANTATION, FLORIDA – Cushman & Wakefield is pleased to announced that it has been named exclusive leasing agent for Gramercy Property Trust’s Plantation Corporate Center I (PCC I), a 122,167-square-foot office building located at 1601 Southwest 80th Terrace.

Criddle - Messinger - Freitas

John Criddle, Gordon Messinger & Joe Freitas

The leasing team of Senior Director John K. Criddle, Director Gordon Messinger and Associate Joseph J. Freitas will exclusively represent Gramercy Property Trust.

Plantation Corporate Center I was built in 1994 on a 6.6-acre site. The four-story building offers efficient floor plates of 31,000 square feet per. It features a fully redundant Cummins 1.875 KVA diesel generator with a 6,000-gallon tank, 645 parking spaces, an on-site cafeteria and lake views. This Class A suburban office building is situated in the master-planned Jacaranda Park of Commerce and provides tenants with easy access to Interstate 95, Interstate 595, Florida’s Turnpike, Sawgrass Expressway and Fort Lauderdale/Hollywood International Airport.

“Plantation Corporate Center I provides a unique, full-building opportunity for potential tenants,” said Criddle. “As markets continue to tighten, this building represents one of the last remaining large blocks of quality office space in all of Broward County that can accommodate a true corporate headquarters or operations center.

” Added Messinger, “Logistically, this building represents an incredible opportunity for South Florida employers. By relocating to Plantation Corporate Center I, a company can position itself in a central location that is easily accessible to Miami-Dade, Broward and Palm Beach counties.”

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.”

“Class A space experienced a significant decrease in vacancy to 8.2 percent from 12.6 percent over the past 12 months,” Tatum continued. “The office market in Broward County is in position to have above-average performance in 2016 on tightening market conditions and positive economic trends. 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

Gordon Messinger
Director
Cushman & Wakefield
+1 305 351 2461
gordon.messinger@cushwake.com

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

Media Contacts:

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

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