"We recognize South Florida as the cruise industry's world headquarters and look forward to growing our business in Florida," American Classic CEO Philip C. Calian tells GlobeSt.com. The relocation in 2002 is expected to create 725 new jobs in Broward County.

The cruise line will be the building's lead tenant with 130,000 sf on a 10-year lease with an estimated value of $36 million. The estimated construction cost of the structure is $37 million.

American Classic's incentive package comprises an annual tax refund of $543,750 for four years, beginning in fiscal 2002/2003 under Florida's Qualified Target Industry Tax Refund Program, about $2 million from the city of Sunrise and Broward County, and an undetermined amount of state job training funds.

Frank Schnidman of the Greenberg Traurig law firm negotiated the incentive deal for the line. Julien J. Studley Inc. represented American Classic in the lease transaction. Coral Gables, FL-based Codina Realty Services is constructing the building.