Progressive Expands Operations in Fort Lauderdale

FORT LAUDERDALE, FL—Highlighting more than 47,000 square feet of new leases, expirations and renewals at the Commercial Place I and II complex here, Progressive Casualty Insurance has signed a renewal and expansion lease totaling nearly 27,000 square feet at the property.

The lease transactions were announced by Stiles Realty, which worked on the leasing assignment with Virginia-based Divaris Real Estate. In the last year the Stiles-Divaris team secured five leases at the properties with various tenants, three of which are new to the complex. Commercial Place I and II total 175,432 square feet and are located at 3230 and 3250 West Commercial Blvd., respectively.

“We are very pleased with the heightened interest in Commercial Place I & II,” says Stiles Realty Director Madelayne Garcia, who represented the landlord, Western National Life Insurance Co., on all of the new leases. “The property has jumped to 88% leased since we attained the assignment in June 2012, which illustrates its attractive location and excellent space options that are particularly ideal for large users.”

Progressive renewed for 21,576 square feet and expanded for another 5,417 square feet. The national insurance provider signed a 64-month lease. Zachary Wendelin of CRESA represented Progressive in the transaction.

Other deals of note include HDR Engineering, Inc.'s lease totaling 10,540 square feet for 65 months. Keith Edelman and Scott Goldstein of JLL represented HDR in the transaction. International Tourism Management Services, LLC signed a new lease for 3,218 square feet for 66 months. Zachary Wendelin of CRESA represented the lessor in the transaction. In addition, H5 Group, a wholesale importer of watches and jewelry, signed a new lease for 1,513 square feet for 64 months. Barry Brizel of Raintree Properties & Investments represented H5 in the transaction.