Jacksonville, FL-based Flagler Development Co. wouldn't disclose terms of the 68,851-sf lease. But area brokers familiar with the north Florida office market tell GlobeSt.com average class A rents are $22 per sf in the Deerwood North submarket.
Option One's lease brings Building Two to 75% occupancy. Building One, also 135,000 sf and completed in August 1999, is 95% leased. Flagler plans to develop the 120,000-sf Building Three in first quarter 2003, Flagler president G. John Carey says in a prepared statement. A fourth planned building will bring the office campus to 510,000 rentable sf.
Among Building Two tenants are Arizona Chemical, Nemours Foundation, the CIT Group, New York Life Insurance Co., Disdovertec and Charles Schwab & Co.
Victor Narusus and Bob Selton of Colliers Dickinson brokerage negotiated for Option One. Pam Hathaway of Advantis Real Estate Services represented Flagler.
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