Steven Mariano - Broward Alliance

Real Estate Opportunities
Steven Mariano
Chairman of the Board,
President and Chief Executive Officer
Patriot Risk Management, Inc.
“Whether you want a downtown urban environment for your business
location, a suburban campus or industrial complex, or anything in
between, the 31 municipalities of Greater Fort Lauderdale have a
number of real estate options for any type business. The Greater Fort
Lauderdale Alliance and its partners are always ready to help relocating
and expanding businesses find the right building, site and amenities to
meet their needs and help them succeed.”
32 www.gflalliance.org

Real Estate
Greater Fort Lauderdale’s many business assets include an
inviting commercial real estate market for expanding and
relocating companies. Office, industrial, distribution, retail and
hospitality properties are readily available at easily accessible
locations throughout the region.
One Charter Place in Coral Springs.
Photo Courtesy of Amera Corporation.
Real Estate Opportunities
Among the highlights:
• “Green” buildings designed for Leadership
in Energy and Environmental Design
(LEED) certification from the U.S. Green
Building Council
• High-rise and mid-rise Class A office
buildings in Broward’s central business
districts
• Suburban business parks that offer
companies a campus-like setting
• Industrial sites and warehouse
and distribution space near major
transportation arteries
• A wide range of regional, neighborhood
and specialty retail centers
• Vibrant mixed-use developments, including
synergistic “town center” projects
Broward had 26.5 million square feet of office
space with an overall vacancy rate of 19.3
percent, including sublease space, as of mid-
2010, according to a report from CB Richard
Ellis. Approximately 137,000 square feet of
Greater Fort Lauderdale and the Alliance
were recently featured in CoreNet Global
Corporate Real Estate’s magazine, The
Leader. The article, “Southeast: After a
Long Winter, Signs of Spring Emerge,”
discusses how companies like Research
In Motion, Foxconn Technologies and
Kaplan University continue to expand
and take advantage of the region’s welleducated
and tech savvy workforce. It
notes that the region’s dynamic education
sector is helping the Alliance in its efforts
to attract corporate headquarters.
new office space was under construction. The
average asking leasing rate was $16.97 per
square foot on a triple net basis.
Broward’s industrial market contained
132.2 million square feet of space with a
9.4 percent vacancy rate, according to CB
Richard Ellis. No new space was under
construction. The average asking leasing rate
was $6.78 per square foot.
The Alliance provides assistance with
locating real estate sites and finding sources
for acquisition and construction loans.
Visit www.gflalliance.org.
Thinking Green
On June 21, 2010, key contributors delivered
the findings of the Broward County Green
Workforce Think Tank Innovation Project, a
year-long study on the greening of Broward
County that examined the use of Property
Assessed Clean Energy (PACE) financing to
support green objectives. The project focuses
on where green jobs may emerge, what job
training opportunities will help the growth of
these jobs and what changes in public policy
are necessary to encourage the growth of a
green economy. It includes representatives
of the Alliance, as well as other business,
education, government and nonprofits who
are collaborating on initiatives that encourage
delivery of a green economy in Broward County.
Under a new program designed to reward
contractors and homeowner-builders whose
plans are designated “green” by a recognized
certification program, the Broward County
Permitting, Licensing and Consumer
Protection Division has announced that it will
speed those projects through the permitting
process in less than five business days.
Broward Smart Growth Partnership
The Broward Smart Growth Partnership is a
collaborative initiative that promotes livable
and sustainable communities. Guided by
Smart Growth America principles, the group
fosters sustainable growth by:
• Encouraging the development of consensus
driven, community based growth and
redevelopment plans
• Promotion of transportation alternatives
• Identifying and promoting alternatives
for school sprawl
• Providing more high quality affordable
housing
• Adopting “smart” building codes
• Encouraging developers to build places
with quality designs, diverse materials and
product variety
• Encouraging and educating citizens to
support smart growth initiatives
• Asking citizens to locate within
neighborhoods with transportation options
• Asking citizens to support neighborhood
businesses
The partnership provides a forum to raise
public awareness, promote smart growth best
practices, develop and share information,
policies, tools, and ideas and cultivate
strategies to address barriers to advance
opportunities for smart growth.
For more information:
www.smartgrowthpartnership.org
Greater Fort Lauderdale Alliance economic sourcebook 33

Gulfstream Park in Hallandale Beach
Real Estate Opportunities
Energy-Efficient Buildings
Throughout Greater Fort Lauderdale,
developers are constructing energyefficient
buildings with environmentally
friendly features. One example is Stiles’
Lake Shore Plaza II, the first South Florida
multi-tenant office building to receive
Leadership in Energy and Environmental
Design (LEED) certification. The U.S. Green
Building Council (USGBC) awarded a Silver
certification to the 130,000-square-foot
Sunrise facility under its rating system.
Kaplan University, one of South Florida’s
largest employers, recently opened a 100,000
square-foot facility equipped with the latest
in energy-saving and hurricane protection
technology. The new space includes an
energy-recovery unit that uses the energy
from cooled air being pumped out of the
building to cool incoming filtered fresh air,
rooftop solar panels to heat the building’s
hot water, and upgraded windows and a roof
structure to withstand high winds.
In Plantation, 321 North, a 33-acre mixeduse
redevelopment project by U.S. Capital
Holdings, LLC, has been accepted into the
LEED for Neighborhood Development pilot
program. Born from a collaboration of the
U.S. Green Building Council, the Congress
for the New Urbanism and Natural Resources
Defense Counsel to evaluate developments in
their entirety, the new LEED for Neighborhood
Development pilot program recognizes projects
that incorporate smart growth, new urbanism,
and green design principles.
Luxury Hospitality Investment
Greater Fort Lauderdale has enjoyed a
strong wave of hospitality-sector real estate
investment. According to the Greater Fort
Lauderdale Convention and Visitors Bureau,
recent upscale projects include:
• A $70 million transformation of the 589-
room Fort Lauderdale Grande Hotel & Yacht
Club, formerly the Fort Lauderdale Marina
Marriott.
• A $30 million renovation of LXR Luxury
Resorts’ 384-room Hyatt Regency Pier Sixty-
Six Resort & Spa.
• A multi-million dollar makeover of the
261-room Courtyard by Marriott Fort
Lauderdale Beach.
• A $100 million renovation of The Hyatt
Regency Bonaventure Conference Center &
Spa in Weston.
• Il Lugano at the Intracoastal in Fort
Lauderdale, an $80 million 14-story project.
• The Crowne Plaza Hollywood Beach, an
upscale condo hotel with 311 guestrooms.
• Ritz-Carlton Fort Lauderdale (formerly the
St. Regis Resort), a $240 million landmark
luxury resort on Fort Lauderdale beach.
• The 25-story Hilton Fort Lauderdale Beach
Resort with 373 studios and suites.
• The $205 million W Fort Lauderdale, a
member of Starwood Hotels & Resorts’
prestigious Luxury Collection.
• The Hollywood Grande Resort, a 225-room
boutique hotel managed by WorldHotels.
Municipal Initiatives
Most of Broward’s cites are now active in
areas such as the preservation of parks
and green space, innovation in recreation,
entertainment and cultural facilities, city
core redevelopment, the creation of walkable,
livable communities, transportation
innovation, affordable housing, public
art projects, cultural tourism and historic
preservation.
Here is a sampling of the
innovation and creativity
at work in Broward cities
Coconut Creek
Coconut Creek is an award-winning green
city known as “The Butterfly Capital of the
World.” In the heart of the city is MainStreet,
home to the Promenade of Coconut Creek,
a green lifestyle center with shops and
restaurants, and the Seminole Coconut Creek
casino, which features gaming, restaurants
and live entertainment.
Cooper City
Construction has begun in the first phases of
the 500-acre mixed-use Monterra development
project that will include 1,645 residential units
and up to 270,000 square feet of office and
commercial space. Along with single-family
homes, multi-family units and 300 units of
affordable housing, the development includes a
linear park and 240 acres of open space.
34 www.gflalliance.org

Real Estate Opportunities
Weston Pointe IV. Courtesy of Duke Realty.
Coral Springs
The Coral Springs Community
Redevelopment Agency (CRA) recently
announced the establishment of a new
Broward College satellite in the downtown
area. Broward College will offer day and
expanded degree classes and will house
its Economic Development Department
at this location. Coral Springs
Downtown will be a mix of redeveloped
properties and new construction offering
office, retail, residential and institutional
facilities, as well as a new government
center.
Dania Beach
Dania Beach has completed the first phase
of its City Center project – the creation
of a “green” 440-space parking garage. A
new LEED Gold library will be completed
by the end of the year. Construction
of a new LEED Silver Indigo-branded
Intercontinental Hotel will begin as a part
of the City Center project in December
2010. In addition to the new Indigo
Hotel, the city has added six new hotels
with more than 1,000 rooms within
the last year and a half. In 2010, the
city was awarded the prestigious Smart
Growth City Award by the Smart Growth
Partnership of South Florida.
west of S.R. 7/U.S. 441, east of the Florida
Turnpike and north of the Seminole Hard
Rock entertainment complex. A planned
urban environment is being created that
will include office, industrial/flex and
Location.
Location.
Location.
commercial space plus residential and
hotel property.
Deerfield Beach
Construction is underway on a $40+ million
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Davie
The town has embarked on a 925-acre
redevelopment area south of I-595,
Greater Fort Lauderdale Alliance economic sourcebook 35

Real Estate Opportunities
Downtown Fort Lauderdale
flyover at the intersection of Hillsboro
Boulevard and Dixie Highway, and a
multi-million dollar streetscaping project
along Hillsboro is nearing completion.
Improvements to the newly designated
Scenic By-Way, A-1-A, are being planned
and implemented section by section. New
entrance facilities at the International Pier
are imminent, as is a major overhaul at The
Cove, a popular shopping center.
Fort Lauderdale
With the completion of the final phase
of the city’s Riverwalk, this signature
downtown destination serves as a gateway
to the upscale shops and restaurants lining
Las Olas Boulevard and connects historical
points of interest to modern museums,
entertainment venues and distinctive
residential neighborhoods. Near downtown,
the city has invested more than $20 million
in the Northwest-Progresso-Flagler Heights
CRA to enhance infrastructure and facilitate
redevelopment. Numerous projects have
come to fruition, including Bamboo Flats,
the Alexan and Four Forty in Flagler Village,
Mill Lofts and Foundry Lofts. The opening
of Sixth Street Plaza marked the beginning
of several new commercial projects proposed
for the Sistrunk Corridor.
To the west of downtown, Amera
Corporation is developing Riverbend,
a mixed-use 100-acre transit-oriented
community in a lushly landscaped
36 www.gflalliance.org
environment with numerous water features.
Riverbend Corporate Park’s initial phase
encompasses 18 acres with six, two- to
four-story Class A office buildings totaling
325,000 square feet. On the southwest side of
the interchange, Riverbend’s 50 acres are in
the planning stage to accommodate mixeduse
development, including residential, retail
and corporate offices.
Master plans are underway in the Downtown
New River area, north U.S. 1 corridor,
South Andrews Avenue, Central Beach
and numerous other areas to ensure smart
growth and enhance quality of life.
Hollywood
With more than 15 linear miles of
commercial corridors targeted for
redevelopment, business opportunities
abound in Hollywood. The citywide master
plan allows for increased densities and
intensities for developers who assemble
parcels along key commercial corridors. The
creation of innovative land use categories
such as Transit Oriented Corridor and
Transit Oriented Development is already
spurring progressive redevelopment projects
along key transportation routes.
On Hollywood Beach, the historic
oceanfront Broadwalk, a 2.5-mile pedestrian
walkway lined with shops and restaurants to
fit every taste and budget continues to draw
visitors from around the world. In the past
four years, Hollywood Beach has undergone
a major renovation as part of one of the most
ambitious coastal redevelopment projects
in the state, upgrading utility infrastructure,
burying utility lines, investing in parks and
enhancing the streetscape.
Lauderdale Lakes
Nearly 550 acres of prime development
opportunities are available within the
Lauderdale Lake CRA’s boundaries. One
example is Bella Vista, a large-scale new
urbanism redevelopment project on the S.R.
7/U.S. 441 corridor that incorporates the
traditional neighborhood design of walkable,
livable cities. Lauderdale Lakes also has over
200,000 square feet of supportable retail
space throughout the business district.
Lauderdale-By-the-Sea
An award-winning “Portals to the Sea”
project designed by architect Anthony
Abbate was recently completed. The design
kept the character and context of the town
and enhanced the natural beauty of the beach
and ocean. The four portals are equipped
with showers, benches and shade shelters.
Lauderhill
The City of Lauderhill has more than 100
acres of planned redevelopment projects
within its central and S.R. 7/U.S. 441
redevelopment districts. The new 45-
acre Lauderhill City Center, formerly the
Lauderhill Mall, will maintain retail uses

population. In addition to several Caribbean
consulates and trade exhibit areas in the
office space, Carishoca will include the first
U.S. outlets of several leading Caribbean
nightclubs and restaurants. Caribbean
Falls will consist of 45,000 square feet of
restaurant, banquet halls, conference rooms,
outdoor dining, office, indoor and outdoor
live entertainment.
Margate
The Margate City Center is planned for
the intersection of Margate Boulevard and
S.R. 7/U.S. 441. The Margate Community
Redevelopment Agency, which now controls
38 acres of land, envisions the City Center as
a mixed-use development that will include
retail, office and residential uses giving
Margate an identifiable downtown. The
center will feature restaurants and retail
businesses representing an international
village, similar to San Antonio’s Riverwalk.
The agency is negotiating with a developer to
begin the City Center project.
Real Estate Opportunities
along with surrounding residential, office,
entertainment and additional retail spaces.
In celebration of Lauderhill’s cultural
diversity, Carishoca and the Caribbean
Falls are planned for the S.R. 7 corridor.
Carishoca, the Caribbean Showcase, will
feature 400,000 square feet of restaurant,
office and retail space and will serve as an
entertainment and destination center geared
to the region’s large and growing Caribbean
Miramar
Miramar’s planned corporate campuses,
designed expressly to meet the needs of clean
industry, have made the city a desirable locale
for major corporations and Fortune 500
Establishing collaborative working
environments, leveraging innovative
solutions, and anticipating issues
early in the construction process
have built us a strong reputation
A healthcare construction
partner you can trust.
for quality and client service with
some of the most prestigious
healthcare institutions throughout
the state and nationwide.
For more information about our extensive
healthcare construction and renovation
experience, please visit our website at
www.suffolkconstruction.com
West Palm Beach • Sarasota • Orlando • Miami
Greater Fort Lauderdale Alliance economic sourcebook 37

Real Estate Opportunities
DHL Headquarters in Plantation
companies. Now, a new 54-acre Miramar
Town Center (MTC) has become the city’s
focal point. It is designed as a traditional
downtown with pedestrian-oriented streets,
Mediterranean-style architecture, main
street storefronts and waterfront views.
Conveniently located in the center of
Miramar, it contains a Cultural Center/Arts
Park and the Miramar Educational Center,
which houses a Broward County Library
and educational facilities for Broward
College and Nova Southeastern University.
Construction has been completed on the first
privately developed office-retail-residential
phase of the MTC campus, with tenants
occupying space since fall 2008. Once
completed, MTC will include businesses,
retail space, restaurants, cafes and a
transportation hub, as well as condominiums
and townhomes, garden apartments and livework
units, all joining the award-winning
City Hall.
North Lauderdale
In keeping with the S.R. 7/U.S. 441
redevelopment efforts, a 220-unit residential
apartment complex is to be completed.
Also, Hampton’s Pine Park was renovated to
include a fitness trail and preserve.
38 www.gflalliance.org
Oakland Park
The city has completed several construction
projects, including a $4 million
reconstruction of N.E. 12th Avenue and the
addition of the first phase of the 7-acre Jaco
Pastorius Downtown Park with community
center. These projects have incorporated
decorative lighting, lush landscaping,
sidewalks and several plazas to encourage the
revitalization of the downtown area.
Parkland
Awarded five stars by Grey House Publishing
for its highest values, highest educational
attainment and most beauty, Parkland has
begun a master plan of 1,900 acres, known
as the Wedge Piece, transferred from Palm
Beach County to Broward County and
Parkland in the last year. The area will
include both residential and commercial
components. Parkland Reserve, a residential
project, has sold its final single-family
dwelling unit within 17 months from its
first building permit. The developer is now
constructing townhouses within the same
project. Adjacent to Parkland Reserve,
the Broward County School District has
completed construction of its first “green”
school, known as Heron Heights Elementary
School – the third elementary school located
within the Parkland city limits.
Pembroke Pines
An aggressive campaign is underway to
redevelop the eastern section of the city.
Plans focus on streetscape improvements,
general building updates, beautification and
branding within designated commercial
corridors. The eastern redevelopment
area is being designed in concert with the
city’s future multi-use City Center project,
which will feature residential, commercial,
office and municipal uses as well as a transit
hub. Additionally, development continues
along the I-75 corridor, just south of Pines
Boulevard. The corridor features one of
South Florida’s first lifestyle centers, and
is slated for future development of up to
600,000 square feet of environmentally
friendly office park. Development also
continues in the 300-acre business and
industrial park on the city’s western edge.
Plantation
Plantation Midtown, with more than 860
acres, is the largest commercial district in
the City of Plantation. This district is slated
for a renaissance as a live, work and play

Town Center for Plantation and central Broward.
Two new redevelopment projects will provide
luxury apartment and condominium units
within walking distance of Class A office space,
retail shopping and services, dining options and
entertainment. Midtown 24 and Veranda, both
recently completed, allow for upscale residential
living and retail shopping. Redevelopment plans
also call for a vibrant, mixed use “Main Street”
destination at I-595 and University Drive.
Pompano Beach
With its multimodal transit links, the city has
evolved into the in the industrial/warehouse/
distribution center of Broward County with
an inventory of more than 30 million square
feet of space. It is also home to some of the
most affordable housing in South Florida. The
city has targeted two primary Community
Redevelopment Areas (CRAs): the main
public beach area on the east and the Atlantic
Boulevard corridor on the west. With 3,000+
acres, the western CRA is the largest in the state
and encompasses industrial, commercial and
residential areas.
Sunrise
Sunrise is known for its business, residential,
retail, hospitality and entertainment offerings,
including Broward’s largest office park, Sawgrass
International Corporate Park. Major new
projects approved for development include
Westerra (1.6 million square feet of office,
400,000 square feet of retail, and 1,500 residential
units), Metropica (600,000 square feet of office)
and Flagler Plaza (850,000 square feet of office).
Tamarac
The city has put in place a 133-acre mixed-use
district to allow for future development and
redevelopment opportunities, in an effort to
provide a pedestrian friendly destination for
residents, and to encourage a live/work/shop
destination.
West Park
The city is expecting major changes over the
next few years with the development of a quality,
mixed-use district on S.R. 7/U.S. 441 Plans
include 575,000 square feet of office/flex space,
500,000 square feet of commercial space, 1,000
high-rise units, 450 garden apartments, 50
townhouses and a 200-room hotel.
Wilton Manors
A Main Street district is being developed
as a traditional town center with a business
area and pedestrian friendly environment for
affordable living, shopping, dining, arts, culture,
entertainment and special events.
Duke Realty Pompano Commerce Center
Office Market
Industrial Market
Market
Rentable
Area
Rentable
Building
Area
Vacancy
Rate %
Vacancy
Rate %
YTD Net
Absorption
SF
Second Quarter 2010 CB Richard Ellis, Inc.
YTD Net
Absorption
SF
Under
Construction
SF
Commercial 2,150,872 19.6% 29,984 0
Cypress Creek 4,048,835 18.2% (27,342) 0
Deerfield Beach 886,601 25.5% 4,951 0
Downtown (CBD) 5,201,562 17.0% (83,275) 0
Ft. Lauderdale 1,929,602 16.2% 9,202 0
Hollywood 2,196,788 17.0% (47,801) 0
Northwest Broward 1,274,886 29.2% (38,455) 0
Plantation 3,000,551 14.1% (90,800) 137,349
Pompano Beach 901,974 18.6% (75,911) 0
Sawgrass 2,369,693 21.2% 38,844 0
Southwest Broward 2,539,167 15.5% 28,923 0
TOTAL 26,500,531 18.2% (251,680) 137,349
Under
Construction
SF
Central Broward 20,301,075 9.3% 63,514 0
Coral Springs 7,708,838 8.8% 89,718 0
Northeast Broward 12,741,601 12.3% (58,902) 0
Pompano Beach 30,409,511 11.8% (75,536) 0
Southeast Broward 32,319,513 6.8% 44,674 0
Southwest Broward 17,717,246 9.0% (91,615) 0
West Sunrise 10,925,092 8.0% (83,739) 0
TOTAL 132,218,544 9.4% (111,886) 0
CBRE statistics include industrial/flex properties, multi/single tenant, owner-user, 10,000 SF and greater
Real Estate Opportunities
Greater Fort Lauderdale Alliance economic sourcebook 39