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Colliers International Facilitates More than $16M of Leasing Activity at Crown Center

Long-term lease transactions total in excess of 70,000 square feet

Fort Lauderdale, July 27, 2018 – The Colliers International South Florida team of Ronald A. Schagrin and Sal Bonsignore has represented owner Fort Lauderdale Crown Land, Inc. in four recent leasing transactions totaling more than 70,000 square feet at Crown Center, located at  1201-1475 West Cypress Creek Road in Fort Lauderdale. The lease transactions bring the occupancy rate of the suburban office campus above 90%, highlighting the appeal of the property in a submarket with an overall 13.1% vacancy rate.

Owner Fort Lauderdale Crown Center, Inc. has established a reputation for ensuring tenant satisfaction, contributing to a strong renewal rate at the six-building office campus. Three of the transactions – Brown & Brown Insurance at 1201 West Cypress Creek Road, water solutions supplier Parkson Corporation at 1401 West Cypress Creek Road, and international training center PreGel at 1475 West Cypress Creek Road – are long-term renewals. The newcomer to the park is Early Learning Coalition of Broward County, Inc., with a new, long-term lease at 1475 West Cypress Creek Road.

“Crown Center is a well-located property with long-term, stable ownership, numerous amenities, and an award-winning property management team,” said Ronald A. Schagrin, SIOR, Senior Vice President. “This has made the office campus highly desirable for new tenants as well as existing tenants who have renewed their leases.”

“The campus offers  some of the largest and most efficient floor plates in the Fort Lauderdale market,” added Sal Bonsignore, SIOR, CCIM, Vice President.

Cypress Creek is a small submarket located in Broward County just north of the Fort Lauderdale market and south of the Pompano Beach market. Although small in geographic area, the submarket comprises of 7.8 million square feet of office space, accounting for more than 10 percent of Broward County’s office market. The main office nodes in this submarket surround the Fort Lauderdale Executive Airport and are located along West Cypress Creek Road and West Commercial Boulevard.

The densification of South Florida’s urban core and downtown markets and rise in rents has added appeal to the suburban office markets, especially for tenants that do not have a necessity to be in the CBD. Amentity-rich suburban office campuses with abundant parking such as Crown Center appeal to large, corporate tenants.


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About Colliers International Group


Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 12,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management 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, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.


Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.


Colliers is led by an experienced leadership team with a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.


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For further information, please contact:

Paola Iuspa-Abbott on behalf of Colliers International South Florida
Top of Mind PR
Phone: 305-726-5848