Morris Southeast Group Continues 2021 With Strong Lease and Sales Activity

Morris Southeast Group arranged 10 leases totaling more than 14,414 square feet at Airport Executive Towers (AET) located at 1150 NW 72nd Avenue and 7270 NW 12th Street in Miami. Building owner Zerep Investment Group has been making investments in the property: a new HVAC System in Tower I, refurbishing the parking lots, landscaping, painting and renovating the exterior.

“These leases come as the Miami Submarket adjusts to the pandemic’s effect and sees movement in tenants giving up square footage to juggle remote work and give up expensive office space in exchange for smaller footprints,” said Morris Southeast Group’s President Ken Morris.

Recent lease transactions in Broward and Dade Counties:

  • Retina Group of Florida in the negotiation of 2,679 SF at 2801 SW 149th Avenue in Miramar. Justin Cope of Avison Young represented the Landlord, MRM Office Owner #4 LP.
  • Lease renewal for Community Foundation of Broward’s 10,109 SF Suite 200 at 910 East Las Olas Boulevard, Fort Lauderdale. The landlord, Las Olas Company represented itself.  
  • Sawgrass Business Plaza, 13798 NW 4th Street in Sunrise by U.S. Facility Solutions at 1,625 SF, Automated Valet at 4,950 square feet, Blue Construction at 750 square feet, Transforce, Inc. at 1,625 SF, JAVCO and Associates at 1,300 SF.
  • DeMoulin Brothers, the largest manufacturer of music performance apparel in the world with headquarters in Greenville, IL, in 5,490 SF, three-year lease at Aviation Business Center at 7478 NW 54th Street in Miami. Thomas Kimen of Easton & Associates represented Invesco Advisers, Inc.

Recent sale transactions in Broward County markets:

  • 119 Rose Drive, Fort Lauderdale, FL – The 5,843-SF property listed on the National Register of Historic Places housed Gilda’s Club of South Florida sold for $1,750,000. Buyers, ODP Architects, were represented by Patrick O’Hare of Florida Corporate Realty.
  • 100 NW 100th Avenue, Plantation, FL – The 6,363-SF office condo in the Jacaranda Professional Park sold for $1,574,524. Morris Southeast Group represented the seller Mark Barmat, Trustee, Summit Financial Court Debtor Under Chapter 7 Case file in the Southern District of Florida. Markson Holdings, LLC were represented by Douglas Okun of JLL, Miami. 
  • 1800 N Douglas Road, Pembroke Pines, FL – The 24,246 SF office building was owned by GSC Building LLC and sold for $3,900,000. The buyer, 1800 Property Holdings, LLC was self-represented.
  • 300 SW 7th Avenue, Fort Lauderdale, FL – The 1,918 SF building was owned by Magda Pascal and sold for $575,000. The buyer was self-represented.

Ken Morris, SIOR RPA, has operated Morris Southeast Group, one of Fort Lauderdale’s top commercial real estate brokerages for over 30 years. He has completed over 500 lease and sale transactions involving office, industrial, retail and commercial space valued close to $1 billion.

Source: Morris Southeast Group Commercial Real Estate