The aggregate value of the new Kos lease is in excess of $10 million. Robert Banks of Properties Group represented Kos in the negotiations. Mark Levy, VP of Indianapolis-based Duke Realty Corp., represented the owner. Duke owns the four-building complex, which consists of nearly identical buildings aggregating 390,615 sf. According to Levy, the Kos transaction brings occupancy at the campus to more than 97.5%.
"Kos' former space in Weston Pointe II is highly marketable, and we expect to re-lease it very rapidly," Levy says. The average asking rental rate in the buildings is $19 per sf, triple net. According to third-quarter data from the Fort Lauderdale office of CB Richard Ellis, the vacancy rate in Southwest Broward is 7.7%, the second lowest after Hollywood in the county.
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