Leading office owner adds 27,000 square feet of occupancy at reimagined office campus as tenants flock to high-quality amenity updates
Bridge Commercial Real Estate (Bridge), a commercial brokerage subsidiary of Bridge Investment Group, announced today two new leases at Sawgrass Technology Park, a 514,332-square-foot, 11-building office complex in Broward County, Florida. Kahane and Associates (12,000 SF) and Acentria Insurance, a Foundation Risk Partners Company (15,000 SF) will occupy approximately 27,000 square feet at the 56-acre campus known for its Mediterranean-style architectural design and surrounding lush landscape and lake. Centrally located in the heart of the thriving Sunrise submarket at the confluence of I-75 and I-595, the business park is surrounded by premier shopping, dining and entertainment destinations, bolstering the complex’s status as one of the most highly amenitized professional office buildings in Broward County.
The new leases reflect the broader “flight to quality” trend as office users across the U.S. seek highly amenitized and repositioned office buildings to provide for their employees and encourage retention. Bridge has invested $7.5 million in capital improvements across Sawgrass Technology Park, including an updated amenity hub with a fitness center, conference center, management office, game room, TVs and a modern cafe to serve as the center’s first on-campus food option.
“We are thrilled to welcome these dynamic companies to our tenant roster at Sawgrass Technology Park, which has become a top destination for professional talent in the region,” said Kelly Kuykendall, managing director at Bridge Investment Group. “The overall lack of new office products in surrounding submarkets has created new opportunities for landlords that made strategic investments to reposition their properties shortly before and during the pandemic. These leases reflect how many of those buildings are now capturing a healthy share of market demand in Broward.”
Bridge signed a 12,000-square-foot deal with Kahane and Associates, P.A., a consumer finance litigation law firm relocating from Plantation, Florida, and a 15,000-square-foot lease with Acentria Insurance, an insurance company relocating from Fort Lauderdale. Sawgrass Technology Park’s upgraded amenities and central location positions the office park to be the ideal home for these new leases as they enter their next chapter of growth and expansion.
Cushman and Wakefield’s Deanna Lobinsky and Chase Kulp represented Bridge in both of these transactions.
According to a recent report from Cushman & Wakefield, Sunrise and other submarkets in West Broward accounted for more than 246,000 square feet of positive net absorption in Q3, offsetting losses in other parts of the region. Year-over-year asking rents climbed by nearly 3% despite recent economic turbulence. Another recent study from CBRE shows Broward has registered nearly one-third of total leasing activity in South Florida over the last year, despite only having just over 25% of the region’s total inventory.
To learn more about Sawgrass Technology Park, visit the website.
About Bridge Investment Group (“Bridge”)
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.3 billion of assets under management as of December 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit, solar infrastructure and proptech.
About Bridge Commercial Real Estate (“BCRE”)
BCRE is an established player in the U.S. commercial office market that specializes in creating desirable, next-generation work spaces. BCRE provides world-class commercial office brokerage services, property management, accounting and commercial construction services for Bridge Office assets. With a proven blueprint that delivers long-term value for tenants and investors, our portfolio includes office properties uniquely positioned in dynamic, high-growth markets across the U.S. and continues to grow. We are laser focused on how companies work today – and will work tomorrow. Headquartered in Atlanta, Georgia and Salt Lake City, Utah, BCRE is a subsidiary of Bridge Investment Group, LLC.