AtlanTech Tower, which opened in 1973 at 6451 N. Federal Highway and received significant renovations in 2001 that included the addition of covered parking, was purchased by New Boston in December 2007 for $63 million, or $152 per square foot. It was the firm's first acquisition in the Southeast.
The 413,390-square-foot building has floor plates up to 33,000 square feet and is currently 87% occupied, including 25% by AT&T, according to New Boston. Asking rents are less than $16 per square foot, well below the current average for the Cypress Creek submarket.
"AtlanTech is a first-class building and we are glad that tenants in the market continue to recognize the quality we are offering," says Jon Gillman, New Boston's senior vice president of asset management. The owner promotes it as the single largest office building in Broward County.
Alice Lucia and Sandra Anderson of the Fort Lauderdale office of Jones Lang LaSalle represented AtlanTech Tower in lease renewal negotiations, while Rick Widerman of JLL's Philadelphia office represented Dallas-based AT&T.
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