Stiles Announces New York Life will be Signature Tenant at Lake Shore Plaza II
Fortune 100 Company Signs 28,230-Square-Foot Lease Agreement at Energy-Efficient Office Building in Sunrise
Fort Lauderdale, FL, April 17, 2009 --(PR.com)-- In one of Broward County’s largest office lease agreements this year, Stiles Realty today announced that New York Life has signed a 28,230-square-foot lease at Lake Shore Plaza II, and will be the signature tenant at the Class A “green” office building in Sunrise.
“At a time when many other companies are shrinking, New York Life is stronger than ever,” said Greg Jensen, South Florida managing partner for the New York-based Fortune 100 company. “As we continue growing in South Florida, finding the newest, best and ‘greenest’ building in the market was a priority – and Lake Shore Plaza II meets those needs. The building is both a great reflection of the quality of our company, and a solid value.”
Despite current economic conditions, Stiles’ leasing team is seeing a high level of interest from national and regional companies seeking top-quality, energy-efficient office product, according to Tom Kates, president of Stiles Realty. Citing the recent roll-out of the Stiles organization’s rebranding message – ‘Invest, Build, Manage’ – Kates added, “Our full-service model is also proving attractive to corporate tenants, by offering ‘one-stop’ service for tenant improvements.”
Stiles Realty Leasing Agent Madelayne Garcia, who represented the owner in the transaction, said New York Life will relocate its South Florida General Office from the Cypress Creek area. The 10-year lease, which begins in August, is for an entire floor, plus additional space, in the 130,000-square-foot Sunrise building. Cushman & Wakefield’s Chris Constant represented New York Life in the transaction.
Last year, New York Life – the largest U.S. mutual life insurance company – hired 47 financial service professionals for its South Florida territory, which stretches from the Treasure Coast to Key West and from Naples to Fort Myers. Jensen said the company plans to hire 50 people this year for its entire South Florida market area.
According to Tim Foran, New York Life’s South Florida director of operations, Lake Shore Plaza II’s easily accessible location, “green” aspects and quality of construction were the three key factors in selecting the Stiles property.
Completed in summer 2008, Lake Shore Plaza II, a joint venture of Stiles Corporation and WLD Enterprises, has already drawn other top-tier corporate clients, including T-Mobile and The Florida Bar.
Located in Sawgrass International Corporate Park at the intersection of I-75 and I-595 and the Sawgrass Expressway, Lake Shore Plaza II is Broward’s first multi-tenant office building pre-certified to meet Leadership in Energy and Environmental Design (LEED) standards, and the developer expects Silver LEED certification for the building. Kates said the facility provides significant energy cost savings, outstanding indoor air quality and other sustainable benefits for tenants. In addition, Stiles Property Management uses only “green” cleaning products and pesticides in maintaining Lake Shore Plaza II.
Stiles is a full-service commercial real estate firm with a clear mission: Invest, Build and Manage. The company’s services include acquisitions, financing, development, design, construction, repositioning, realty, leasing and property management services. Headquartered in Fort Lauderdale, the company has additional regional offices in Miami, Tampa, Ft. Myers and Orlando, Florida. Stiles is responsible for more than 37 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit www.stiles.com or call 954-627-9377.
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“At a time when many other companies are shrinking, New York Life is stronger than ever,” said Greg Jensen, South Florida managing partner for the New York-based Fortune 100 company. “As we continue growing in South Florida, finding the newest, best and ‘greenest’ building in the market was a priority – and Lake Shore Plaza II meets those needs. The building is both a great reflection of the quality of our company, and a solid value.”
Despite current economic conditions, Stiles’ leasing team is seeing a high level of interest from national and regional companies seeking top-quality, energy-efficient office product, according to Tom Kates, president of Stiles Realty. Citing the recent roll-out of the Stiles organization’s rebranding message – ‘Invest, Build, Manage’ – Kates added, “Our full-service model is also proving attractive to corporate tenants, by offering ‘one-stop’ service for tenant improvements.”
Stiles Realty Leasing Agent Madelayne Garcia, who represented the owner in the transaction, said New York Life will relocate its South Florida General Office from the Cypress Creek area. The 10-year lease, which begins in August, is for an entire floor, plus additional space, in the 130,000-square-foot Sunrise building. Cushman & Wakefield’s Chris Constant represented New York Life in the transaction.
Last year, New York Life – the largest U.S. mutual life insurance company – hired 47 financial service professionals for its South Florida territory, which stretches from the Treasure Coast to Key West and from Naples to Fort Myers. Jensen said the company plans to hire 50 people this year for its entire South Florida market area.
According to Tim Foran, New York Life’s South Florida director of operations, Lake Shore Plaza II’s easily accessible location, “green” aspects and quality of construction were the three key factors in selecting the Stiles property.
Completed in summer 2008, Lake Shore Plaza II, a joint venture of Stiles Corporation and WLD Enterprises, has already drawn other top-tier corporate clients, including T-Mobile and The Florida Bar.
Located in Sawgrass International Corporate Park at the intersection of I-75 and I-595 and the Sawgrass Expressway, Lake Shore Plaza II is Broward’s first multi-tenant office building pre-certified to meet Leadership in Energy and Environmental Design (LEED) standards, and the developer expects Silver LEED certification for the building. Kates said the facility provides significant energy cost savings, outstanding indoor air quality and other sustainable benefits for tenants. In addition, Stiles Property Management uses only “green” cleaning products and pesticides in maintaining Lake Shore Plaza II.
Stiles is a full-service commercial real estate firm with a clear mission: Invest, Build and Manage. The company’s services include acquisitions, financing, development, design, construction, repositioning, realty, leasing and property management services. Headquartered in Fort Lauderdale, the company has additional regional offices in Miami, Tampa, Ft. Myers and Orlando, Florida. Stiles is responsible for more than 37 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit www.stiles.com or call 954-627-9377.
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Stiles
Ramon Simmons
954-627-9377
www.stiles.com
Ramon Simmons
954-627-9377
www.stiles.com
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