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PLANTATION, FL-Republic Bank, an independent commercial bank based in Florida, has inked a long-term lease for 10,608 sf of space here. The 10-year lease is worth approximately $4 million, or about $37.70 per sf.

The space is in a 50,000-sf building located at 300 S. Pine Island Rd. The building is 98% occupied.

Republic Bank previously was subleasing the space from Bank of America but now has entered into a direct lease agreement with the property owner. The building is owned by 300 Pine Island Associates Ltd. The bank’s lease begins in April 2004.

Ken Morris, president of Morris Southeast Group, represented 300 Pine Island Associates and was the only broker involved in the transaction.

The bank, based in St. Petersburg has an existing branch and a regional training center in the building. Republic Bank, whose parent company is publicly traded Republic Bancshares, also has locations throughout Florida.

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