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FORT LAUDERDALE-Brown & Brown Inc., a publicly traded insurance agency and brokerage, has inked a 30,044-sf, long-term lease here with an estimated value of at least $3.96 million. The value is based on the asking rental range for full-service, class A office space in the Cypress Creek submarket of $22 to $27 per sf.

The total space represents a 25,844-sf renewal and a 4,200-sf expansion. Brown & Brown, based in Daytona Beach, FL, has experienced steady growth, starting out in the building with approximately 3,000 sf.

The lease is at 5900 N. Andrews Ave. at Cypress Financial Center, which is 73% occupied. Rod Loschiavo of Julien J. Studley Inc. represented the tenant in this transaction. Sandra E. Andersen of Jones Lang LaSalle Americas Inc. represented the property owner, FBEC-Cypress Financial Center LP.

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