The tenant will use 11,231 sf for a wellness center and thebalance for office space, according to Flagler officials. Thewellness facility is expected to open by Dec. 1. "This fast-growingarea needed a class A wellness operation," says Flagler presidentJohn G. Carey. The building at 12735 Gran Bay Parking is near thenew Baptist Health South hospital at Flagler Center and the newinterchange at Interstate 95 and St. Augustine Road.

Flagler senior leasing director Ross Carrier represented hisfirm in the lease transaction. YMCA officials negotiated for theirgroup. Flagler officials declined to disclose the length and valueof the lease. However, area brokers familiar with the submarkettell GlobeSt.com the lease was probably for five years at anestimated aggregate value of $1.14 million. The asking averagegross rent range at the building is $11 to $13 per sf, a Flaglerrepresentative confirms.Locally based Flagler Development Co. owns,leases and manages about 7.6 million sf of class A office andindustrial space in Florida. The company has 680,000 sf underconstruction. Flagler's space consists of class A office andindustrial properties, primarily in Jacksonville, Orlando, FortLauderdale and Miami.

Flagler also owns 752 acres of entitled land in Florida which isavailable for development of up to an additional 10.9 million sfand about 2,511 acres of other Florida properties.