Sagar and senior associate Tivon Moffitt negotiated the transaction on behalf of the building owner, Michigan-based Caproc Third Ave. LLC. Sagar says this is one of the few buildings able to accommodate the tenant's space needs Downtown. This lease takes occupancy in the building to 78%, up from 47% a year ago.
Tower 101 was completed in 2001 and is adjacent to the federal courthouse and within walking distance of City Hall. Published rental rates are $18 per sf. Other tenants, also recently secured by Sagar and Moffitt, include Advanced Risk Concepts and a 9,500-sf renewal by the City of Fort Lauderdale.
NationsRent is relocating and expanding from its existing headquarters at 450 Las Olas Blvd., also in the CBD. The company, which rents construction and maintenance equipment, operates in 267 locations, including 100 leased centers in Lowe's Home Improvement outlets.
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