Codina Brokers Two Leases Totaling 110,000 SF Valued at Estimated $10.85 Mil

WESTON, FL-Pike Rowley and Robert McCullough, brokers at Codina Realty Services, have been busy. In newly-closed transactions, they handled two leases totaling 110,000 sf valued at an estimated aggregate value of $10.85 million.

The brokers arranged expansion space for two high-tech tenants, ParkStone Medical Information Systems and Gilat-To-Home Latin America Inc.

ParkStone Medical Information Systems will occupy 60,000 sf at the Beacon Pointe office complex being built her by Codina’s corporate parent. The tenant, a developer of wireless hand-held devices used by physicians, will move from 15,000 sf elsewhere in Weston to the second of four 100,000-sf buildings slated for Beacon Pointe where the initial building is up and fully occupied.

Rowley, director of leasing in Broward County for Codina Realty, and his associate, McCullough, negotiated the seven-year ParkStone deal. Rowley tells GlobeSt.com comparable class A office space in this area rents for about $17.50 pr sf, triple net.

The brokers also closed a five-year lease to Gilat-To-Home Latin America, an Internet service provider in Latin America. The firm is moving headquarters within Sunrise from 9,000 sf to 50,000 sf at the three-building, 200,000-sf Sawgrass Commerce Center on NW 14th St.

Rowley says comparable class B+ office space in the area rents for around $14 per sf, triple net. Codina is the Oncor affiliate in South Florida.