Miami Beach-based Terranova Corp. senior commercial associateGordon Messinger represented the landlord in the transactions.Terranova assumed management and leasing of the three-building,240,000-sf office park located at 1615, 1625 and 1690 Congress Ave.in 2003.
The leases include a $2.4-million renewal with bridal apparelmaker Alfred Angelo, Inc., which will maintain its 21,391-sfoffice. Charlie Barton and Ted Garrity, of Cresa Partners,represented the tenant. A $1.7-million deal was struck withAmerican Home Mortgage Construction, which will expand its spacewithin the building to 13,258 sf. A third lease worth $500,000 wassecured with World Savings Bank, which will open a new 3,700-sfoffice to serve customers in the Delray Beach and Boynton Beachmarkets.
Messinger tells GlobeSt.com that rents in the building average$16 to $17 per sf. With the signing of the leases, the building is84% occupied with approximately 65,000 sf of vacant space.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.