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FORT LAUDERDALE, FL-Richmond Abstract of Florida has signed a lease for 13,703 sf in the office tower at Bank of America Plaza at Las Olas City Centre, located in the Downtown financial district here. Based on rental rates of between $18.75 and $25 per sf net in the building, the five-year lease has an estimated value of about $1.5 million net, or about $2.19 million gross.

On Oct. 1, the company plans to move 100 employees from its beach-area location into its Las Olas City Centre office at 401 E. Las Olas Blvd. The office will serve as the company’s Florida headquarters; and with the move, the company expects to hire additional employees.

“We chose this building for its state-of-the art amenities and outstanding tenants,” says Joseph LaForte, president of Richmond Abstract of Florida. Tenants at the 23-story building, which has 365,801 sf of office space, include Bank of America, Greenberg Traurig LLP and Premier Business Offices LLC.

Stiles leasing agent Kathy Grandis represented the property owner, Fifth Avenue Partners, a Stiles partnership. Andrew Deitz of Deitz Realty Co. represented Richmond Abstract. Richmond Abstract, based in New York, provides title insurance, a contract to indemnify against losses arising through defect in the title to real estate.

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