Jones Lang LaSalle and Studley complete largest law firm transaction inked in South Florida this year
FORT LAUDERDALE, Nov. 12, 2013 – In a deal that marks the largest law firm lease renewal and expansion inked in South Florida so far this year, Greenspoon Marder has leased four full floors at the trophy tower 200 East Broward Blvd. The new 64,964-square-foot lease expands the law firm’s presence in the building from one to four floors. This transaction signifies positive absorption of office space for the Broward Boulevard corridor and strengthens the law firm’s presence in the downtown Fort Lauderdale area.
Jones Lang LaSalle’s Senior Vice President Sandra Andersen completed the lease on behalf of the building’s ownership, VV USA City, LP., an entity represented by Invesco Real Estate. Studley’s Corporate Managing Director Thomas Capocefalo and Executive Vice President Gregory Katz represented Greenspoon Marder. Financial terms of the lease were not disclosed.
A locally-owned and operated law firm, Greenspoon Marder has more than 160 attorneys serving clients across its 10 Florida offices. Since 1981 Greenspoon Marder is a full service business law firm headquartered in Fort Lauderdale. The firm serves Fortune 500, middle market public and private companies, start-ups, emerging businesses and entrepreneurs across Florida and the United States.
“The Firm’s decision to lease additional space in the 200 East Broward Blvd building is the latest example of our commitment to our continued growth. We wanted to align our space needs with our business goals by bringing our lawyers closer to many of our corporate and banking business clients in downtown Fort Lauderdale,” said Greenspoon Marder co-founding partner, Gerry Greenspoon.
With this transaction, the occupancy rate at the 21-story class A office building rises to 87 percent, with other marquee tenants including PNC Bank and law firms Shutts & Bowen and Weiss Serota Helfman Pastoriza Cole & Boniske. Centrally located in Downtown Fort Lauderdale, the 225,650-square-foot office tower offers amenities such as conference facilities, an eight-level parking garage and 24-hour manned security.
“This transaction is a testament to the strengthening of the office market in the CBD, particularly along Broward Boulevard, as law firms like Greenspoon Marder look to solidify their presence in the Central Business District,” said JLL’s Andersen, who has brokered transactions in Fort Lauderdale’s CBD for the past 25 years. “The key to success in this deal was our ability to accommodate the law firm’s space needs to maximize floor plan efficiency and growth.”
The law firm toured the Broward office market for several months analyzing its space options and ultimately selected to expand its home at 200 East Broward Blvd. According to Studley’s Tom Capocefalo, “the law firm considered several Central Business District building options before it elected to expand its home at 200 East Broward Blvd. Ownership also provided attractive economic concessions and flexible lease options to the firm”