110 Tower closes out 2015 with 88,000 sf in leases
Building is now 82 percent occupied
February 18, 2016 03:45PM
The 110 Tower office building in Fort Lauderdale
The 110 Tower office building in Fort Lauderdale enjoyed a solid final quarter last year, reporting more than 80,000 square feet worth of renewals and new leases.
The building, located at 110 Southeast 6th Street, is owned by Texas investment adviser GenCap Partners. It measures 391,473 square feet and in recent years underwent a $15 million facelift.
Cushman & Wakefield, which handles leasing for the tower, announced 88,711 square feet in leasing activity during the final three months of 2015. The tower’s newest tenants: United Capital Advisors, a wealth management compant headquartered in California, and SATO Global Solutions, a Tokyo technology company that leased out 14,000 square feet on the seventh floor.
“SATO considered major cities like Dallas, New York and the Silicon Valley before choosing Fort Lauderdale to host its first global headquarters outside Japan,” leasing agent Laurel Oswald of Cushman & Wakefield said in a news release. “Ultimately, lower prices, a business friendly government and a fast-growing IT sector helped solidify their decision.”
Much of the remaining square footage goes to renewals. Some of the building’s biggest lessees that renewed their space include Broward County, which takes up an entire floor and also expanded into another full floor; Sabadell Bank, which has a commercial space on the ground floor; and Allstate Insurance, which also expanded.
All that activity brings 110 Tower’s total occupancy to roughly 82 percent, according to the release. — Sean Stewart-Muniz
Source: The Real Deal