Ft. Lauderdale-Area Office Building Lands 89 KSF Tenant

Cresa Managing Principal Alexander Brown worked on behalf of the healthcare tenant in the lease negotiations with landlord TA Realty.
1801 Building, Plantation, Fla.
1801 Building, Plantation, Fla.

Cresa negotiated a new lease with Envision Physician Services at a 102,000-square-foot office building in Plantation, Fla. The tenant will occupy 89,143 square feet at the property and plans to open in the summer of 2018.

Located at 1801 NW 66th Ave., the two-story building was completed in 1983 and underwent a series of renovations this year following the departure of three long-term tenants. Improvements included upgrading the lobby along with the common areas, elevator and parking lot, as well as refurbishing the exterior and new roofing. The 1801 Building provides 24-hour secured access and a parking ratio of roughly 4.6 spaces per 1,000 square feet.

Hands-on ownership

Cresa Managing Principal Alexander Brown represented the tenant in the lease negotiations with landlord TA Realty. Envision Physician Services is part of a conglomerate of companies that includes Envision Healthcare, AMR, AMSURG and Envision Health. Last month, Cresa represented Lighthouse Strategies in securing a 40,811-square-foot headquarters lease in San Diego.

“Months of market leverage and financial analysis, plus investigating state and local incentives, helped to focus-in on the Plantation market. The Cresa team was able to procure extremely favorable terms for Envision at the 1801 Building and Cresa was able to execute a transaction where Envision could continue to grow and provide healthcare leadership in South Florida,” Brown said in prepared remarks.

Centrally situated between Interstate 95 and Sawgrass Expressway, the 1801 Building is minutes from the Florida Turnpike. The location is approximately 20 minutes from downtown Fort Lauderdale and Fort Lauderdale-Hollywood International Airport.

Image courtesy of Yardi Matrix