Chetu Initiates First Office Contruction in Plantation in More Than a Decade
Colliers South Florida Tapped As Exclusive Leasing Agent for University Professional Center
Plantation, Fla. (April 3, 2018) - Colliers International South Florida has been selected as the exclusive leasing agent for University Professional Center, a new 63,600 square foot office building that recently broke ground in Plantation. The office leasing team of Alfie Hamilton and Caitlin Inklebarger was selected by the South Florida-based software development company, Chetu, for the new office project, which is the first new office building in Plantation since 2007.
Located at 1248 N. University Drive, University Professional Center will be a 3-story, Class A office within Plantation Key Office Park. The property will feature new construction, customization options and contiguous floor plates that will further distinguish the project from the submarket’s current inventory.
The building is the realization of Chetu, a leading provider of custom software development solutions, who has undergone continuous and exponential growth over the past 18 years. During this time, Chetu breached markets worldwide with over a dozen US offices and international outposts in India and the Netherlands. The University Professional Center represents an opportunity for further expansion, a dynamic space, capable of supporting Chetu’s growing, Florida-based team and paralleling the company vision.
"We are elated to be able to cultivate a state-of-the-art space that Chetu and other like-minded businesses can leverage as a base for operations," stated Atal Bansal, CEO at Chetu. "This building cements Chetu’s commitment to regional expansion and underscores our dedication to the community we have called home since our founding in 2000."
At the end of Q4 2017, Class A office space in Plantation had swelled to 93.7% and continues to tighten, adding pressure to the lack of available big blocks of available space in the market. There are currently only five Class A buildings in Plantation with 20,000 contiguous square feet or more available.
"The partners behind University Professional Center recognized an immediate need for more office inventory in the submarket where they were already working," said Colliers Executive Vice President Alfie Hamilton. "Not only will this introduce compelling space options for firms looking to expand in Plantation, but it also provides Chetu with flexible growth opportunities."
The building construction is expected to be complete by Q4 2018, and is approved for up to 26,800 square feet of medical office use. Located on University Drive, just south of Sunrise Boulevard, the new building will be adjacent to Plantation’s emerging technology cluster and within close proximity to WestsideRegional and Plantation General hospitals as well as the Nova Southeastern University Medical School.
"The introduction of new Class A space into the market will create more momentum and synergies within Plantation," added Leasing Associate Caitlin Inklebarger. "Medical office users or technology and professional service firms that wanted to be located near the hospitals or near Magic Leap headquarters, for example, will have new space options for the first time in more than a decade."
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About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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Founded in 2000, Chetu is a leading provider of customized software development solutions combining technological expertise, specific domain experience and passion for excellence to deliver enterprise-grade solutions to start-ups, SMBs, Fortune 5000 companies, and major brands. Chetu is a true and seamless backend technology partner, helping businesses accelerate the development of desktop, mobile & web-based apps with on-demand developers. Headquartered in Plantation, Florida, Chetu has fourteen locations throughout the U.S. and abroad. For more information visit: www.Chetu.com
For further information, please contact:
Paola Iuspa-Abbott on behalf of Colliers International South Florida
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