Leasing Picks Up at Ft. Lauderdale Office Tower

By Timea Papp

Las Olas Square

Cushman & Wakefield negotiated approximately 25,000 square feet of office leases at Las Olas Square, a two-building, mixed-use complex in downtown Fort Lauderdale, Fla. The leasing activity coincides with the extensive improvement program owner Steelbridge implemented on the campus.

Las Olas Square encompasses the 17-story SunTrust at Las Olas Square, an office tower located at 515 E. Las Olas Blvd., and the nearly 50,000-square-foot 501 at Las Olas Square, a three-story mixed-use building at 501 E. Las Olas Blvd. The campus includes a five-story structured parking garage. Las Olas Square offers tenants 24-hour security, on-site management services, conference and training rooms, on-site banking, a café and The Plaza, an urban park courtyard with seating and Wi-Fi.

Lease negotiations 

The team of Executive Directors Travis Herring and Deanna Lobinsky, alongside Director Katherine Ridgway and Associate Chase Kulp, negotiated leases on behalf of Steelbridge with Esquire Deposition Solutions, Raymond James & Associates and the A.D. Henderson Foundation. The team also arranged Cushman & Wakefield’s own expansion in the SunTrust building.

Represented by Stone-Miller, Esquire Deposition Solutions renewed its 8,092-square-foot lease on the 13^th floor, while Raymond James & Associates signed a lease renewal for its 7,503-square-foot space on the eighth floor, represented by C&W Executive Managing Director Todd Brandon and Executive Director Jeff Holding.

The A.D. Henderson Foundation renewed its 1,326-square-foot lease on the ninth floor with the assistance of JLL Managing Director Barbara Liberatore Black. Cushman & Wakefield expanded its presence at the SunTrust building from 2,000 square feet to 7,305 square feet, represented by its own tenant representation team, Executive Director Jeff Holding and Senior Director A.J. Belt.

Transformation underway

Steelbridge’s renovation plans include the redevelopment and modernization of 501 at Las Olas Square, which is slated for completion by year’s end. The mixed-use asset will receive a contemporary glass facade as well as updates to the lobby and interiors and new mechanical and building security systems. The owner also plans to upgrade the lobby and common areas in SunTrust Center at Las Olas and make improvements to the connected parking garage. Work on the office tower is expected to be complete in the third quarter of 2017. The plaza between the tower and mixed-use building will be converted into an urban square designed as a gathering space for both tenants and the public.

Las Olas Square is adjacent to several shopping venues and restaurants on Las Olas Boulevard and it’s located within minutes of the Fort Lauderdale/Hollywood International Airport. The complex provides access to Interstates 95 and 595 and is within walking distance of the new Brightline Station, opening in the third quarter of 2017.

Image courtesy of Cushman & Wakefield