Herring, Lobinsky Bring 17,400 SF Tenant To Coastal Tower

Written by on August 7, 2013 in Done Deals, News - No comments

CBRE has arranged a lease for insurance company USI, the 9th largest insurance broker in the United States, at Coastal Tower, a Class A, LEED ®EB Silver-certified office building at the corner of US 1 and Commercial Boulevard in Fort Lauderdale.

The company will relocate approximately 80 employees from its current location at Broward Trade Center, located at 200 W. Cypress Creek Road, to the new office, located on the 6th floor, when it assumes occupancy on January 1, 2014.

CBRE is the leasing agent for Coastal Tower owner California State Teachers’ Retirement System (CalSTRS).

While the Broward County office market continues to post year-over-year negative absorption, leasing at  Coastal Tower has actually picked up pace in 2013. USI is the 10th tenant this year to sign a new lease or expansion there. CBRE has arranged more than 28 new leases at Coastal Tower over the past three years, bringing the building up to 83% occupancy.

“While the office market remains flat, we have been fortunate to attract many office users in the market primarily because businesses are looking for dependable property ownership and great on-site amenities like fitness centers and food services, all of which Coastal Tower offers,”  said CBRE First Vice President Travis Herring. “It does not hurt that we are also located close to several affluent communities where business owners and employees want to live.”

Located at 2400 East Commercial Boulevard, Coastal Tower is a LEED® and Energy Star Certified, Class A office building located within walking distance to several restaurants, hotels, banks and shops, and  across the street from Holy Cross Hospital and the Holy Cross Wellness Pavilion.

Herring, along with CBRE Senior Vice President Deanna Lobinsky and Associate Katherine Ridgway, are the exclusive leasing agents for Coastal Tower.

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