X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PLANTATION-After acquiring the 58-acre Cornerstone Office Park here last month, Houston-based Patrinely Group is wasting little time in planning a total 395,000 sf of office space at the strategically-located development. Plantation is just west of Fort Lauderdale and 30 miles north of Downtown Miami.

The first five-story, 112,500-sf building, Cornerstone II, is expected to break ground next spring. A 250-room Marriott Renaissance Hotel is scheduled to start construction by year end on an adjacent site by Indiana developer Renplant Co.

The hotel project will enhance the office park’s development, Patrinely CFO Len O’Donnell tells GlobeSt.com. Additionally, the Cornerstone acquistion deal includes an existing eight-story,180,000-sf, class A office building and conference center, plus the three buildable office sites.

“The existing complex offers a great platform to build from, allowing us to hit the ground running, instead of having to work with a raw piece of ground,” O’Donnell says. A health club, deli and lake are already in place.

One of the park’s leasing pluses is its proximity to the Fort Lauderdale-Hollywood International Airport in the Interstate 595 corridor. “Access, visibility and amenities” is what Cornerstone has going for it, the Patrinely executive says.

Gensler Architects’ Houston office is designing the new office buildings. Patrinely Group has a 14-year development and management track record in South Florida. C. Dean Patrinely, the firm’s CEO, is a native Floridian and former Broward County resident. He sold off the Cypress Financial Center in Broward two years ago and had been out of this market until now.

Patrinely Group is a wholly-owned subsidiary of Crimson Capital Ltd. with an active national development portfolio of four million sf. The firm is scouting other South Florida sites for additional projects. Patrinely has offices in the Cornerstone I building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.