The first five-story, 112,500-sf building, Cornerstone II, is expected to break ground next spring. A 250-room Marriott Renaissance Hotel is scheduled to start construction by year end on an adjacent site by Indiana developer Renplant Co.

The hotel project will enhance the office park's development, Patrinely CFO Len O'Donnell tells GlobeSt.com. Additionally, the Cornerstone acquistion deal includes an existing eight-story,180,000-sf, class A office building and conference center, plus the three buildable office sites.

"The existing complex offers a great platform to build from, allowing us to hit the ground running, instead of having to work with a raw piece of ground," O'Donnell says. A health club, deli and lake are already in place.

One of the park's leasing pluses is its proximity to the Fort Lauderdale-Hollywood International Airport in the Interstate 595 corridor. "Access, visibility and amenities" is what Cornerstone has going for it, the Patrinely executive says.

Gensler Architects' Houston office is designing the new office buildings. Patrinely Group has a 14-year development and management track record in South Florida. C. Dean Patrinely, the firm's CEO, is a native Floridian and former Broward County resident. He sold off the Cypress Financial Center in Broward two years ago and had been out of this market until now.

Patrinely Group is a wholly-owned subsidiary of Crimson Capital Ltd. with an active national development portfolio of four million sf. The firm is scouting other South Florida sites for additional projects. Patrinely has offices in the Cornerstone I building.

Instant Insights /

Houston's Patrinely Group Plans 395,000 SF of Office at Cornerstone Park

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