Cushman & Wakefield Lands South FL Leasing Assignment
- Jul 17, 2019
Compass Wealth Management has appointed Cushman & Wakefield to oversee leasing at the Radice Corporate Center in Fort Lauderdale, Fla. Executive Director John Criddle and Director Joseph Freitas will market the three-building, 353,975-square-foot Class A office property. In June, the same team negotiated three leases totaling 36,539 square feet in Boca Raton, Fla.
Located at 600, 800 and 1000 Corporate Drive in the Cypress Creek office submarket, Radice Corporate Center is 6 miles north of downtown Fort Lauderdale. The property is situated alongside Interstate 95, within 10 miles of Fort Lauderdale-Hollywood International Airport.
The office park, developed between 1984 and 1987 by Radice Corp., is 87 percent leased to a diverse tenant mix, which includes a number of educational institutions, law firms and financial service providers. On-site amenities include a café and a mix of covered and surface parking at a ratio of 4 spaces per 1,000 square feet. Compass intends to begin capital improvements to the asset, primarily focusing on amenity upgrades.
Compass acquired the first building in 2000 from AREEA, buying the second in late 2013 from Wells Fargo, according to Yardi Matrix. The investor picked up the final part of the corporate center from Pacific Asset in May for $24.2 million, per Broward County records.