Royal Palm Office Park, a 465,592 square foot Class A office park located at 900 & 1000 S. Pine Island Road in Plantation, has finalized six lease transactions with one new user and five current tenants. The transactions involved a new lease with American General Life Insurance Company, a wholly owned subsidiary of leading multinational insurance corporation AIG (10,400 RSF); and five lease renewals with aerospace equipment and data protection solutions company Thales USA, Inc. (27,000 RSF); insurance firm Setnor Byer Bogdanoff, Inc. (7,500 RSF); real estate company El Ad National Properties (4,900 RSF); financial advisory firm Tobias Financial Advisors (2,900 RSF); and educational assessment firm NCS Pearson (1,600 RSF).
Financial terms were not disclosed.
Blanca Commercial Real Estate President and CEO Tere Blanca, Vice Chairman Danet Linares and Associate Vice President Flavia Eternod represented the building’s ownership, an affiliate of Lincoln Property Company, in the transactions. Kevin McShea and Ryan Nunez of CBRE represented AIG; Rod Loschiavo of JLL represented Thales Group; Zach Wendelin of Cresa represented Setnor Byer; and Keith Edelman and Scott Goldstein of JLL represented Tobias Financial Advisors. The other leases did not involve co-brokers.
“As one of Broward’s top Class A office parks, Royal Palm is an ideal option for users seeking a central location within striking distance of downtown Fort Lauderdale and the County’s desirable residential neighborhoods,” said Tere Blanca, president and CEO of Blanca Commercial Real Estate. “With an easily-accessible location just off I-595 and ample tenant amenities, Royal Palm is a natural fit for Fortune 500 companies, multinational corporations and strong entrepreneurial firms.”
A complete renovation of Royal Palm Office Park is currently in progress, with upgrades being made to the complex’s lobbies, as well as select restrooms and corridors. New amenities in development include the addition of a luxurious executive conference center/lounge as a complement to its existing classroom-style conference center, and a new state-of-the-art fitness center.