John Criddle and Joseph Freitas of Cushman & Wakefield, along with Building Owner ICM Realty Group, Have Secured Leases with DataCore, Total Quality Logistics and Regional Acceptance Corporation at the Class A Office Building in Broward County
FORT LAUDERDALE, FL, January 24, 2020 — Three office leases totaling ±50,000 square feet were recently signed at ICM Realty Group’s Cypress Executive Center in Broward County.
The Cushman & Wakefield brokerage team of John Criddle and Joseph Freitas secured new leases with DataCore and Total Quality Logistics (TQL) as well as a lease renewal with Regional Acceptance Corporation.
Storage software firm DataCore leased space for its headquarters at Cypress Executive Center, relocating from Corporate Park at Cypress Creek in Fort Lauderdale. Zach Talbot and Monica Cornejo of Cresa represented DataCore in the lease negotiations.
TQL, a logistics management company, leased space at Cypress Executive Center, relocating its Broward County operations from Design Center of the Americas (DCOTA) in Dania Beach. CBRE’s K.C. Tenukas negotiated the lease on behalf of TQL.
Regional Acceptance Corporation, an auto finance company affiliated with BB&T, renewed its lease at Cypress Executive Center. The company houses a regional business center in the building.
The leases bring Cypress Executive Center to 88% occupancy. Two suites offering up to 16,072 square feet of contiguous space remain available for lease at $15.50 NNN.
“The success we’ve experienced at Cypress Executive Center is the product of an exceptional leasing team, ownership team and thoughtful building renovation” said ICM Managing Director Andrew Webb.
Cypress Executive Center is a six-story, 140,635-square-foot Class A office building located in the heart of Cypress Creek at 1901 West Cypress Road. The building offers a surface parking ratio of ±6.0 space per 1,000 rentable square feet, on-site management, individually metered suites and spacious floor plates featuring efficient designs.
Cypress Executive Center is situated just west of the Interstate 95-Cypress Creek exchange providing easy access to Interstate 95, Florida’s Turnpike, bus routes and TriRail. The property is immediately adjacent to Fort Lauderdale Executive Airport.
ICM Realty Group purchased Cypress Executive Center in early 2015 and has successfully repositioned the building as a Class A property via an aggressive building upgrade program. Improvements include the complete renovation of the building lobby, common areas, rest rooms and exterior landscaping as well as the addition of new amenities such as a tenant WiFi lounge, café and conference facility.
“ICM Realty Group’s investment in Cypress Executive Center has transformed the asset into one of the area’s premier destinations for back office operations,” said Criddle. “The building’s updated amenity package and abundant parking has helped drive lease-up, and we anticipate reaching full occupancy in short order.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About ICM Realty Group
Founded in 2003, ICM Group is a fully integrated international real estate investment firm that focuses on the US and Canadian commercial real estate markets. From its offices in Calgary, Atlanta, San Francisco, Minneapolis, Delray Beach and Munich, ICM’s core objective is to provide institutional and high net worth investors with customized services in the areas of Investment Management, Asset/Portfolio Management, and International Investment Solutions. ICM has a proven track record with all investment-property types and has extensive experience in structuring and managing cross-border investment vehicles, including, real estate investment funds, private placements, and real estate syndications. Visit www.icmgroup.ca for more information.