Steven Mariano - Broward Alliance

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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
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Steven Mariano - Broward Alliance

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