New owner plans significant upgrades to the unique Class A office property
Fort Lauderdale, FL, September 1, 2018 – Exclusive Leasing Agent Colliers International South Florida is pleased to announce the purchase of 2050 Spectrum Boulevard in Fort Lauderdale, Florida, by Spectrum Investors LLC, whose ownership is experienced with facilitating commercial properties in the Northeast and Southeast sections of the United States, Colliers will continue to market the 128,000 square foot Cypress Creek office complex for lease. Spectrum Investors purchased the building from Randstad Corporation on July 31, 2018.
The seller, Randstad, is a human resources industry leader and has been the anchor tenant of the property and will remain under a long-term lease of approximately 40,000 square feet.
The Spectrum Investors’ management team includes very experienced individuals with extensive hands-on operational experience and in particular has over 30 years direct experience with the 2050 Spectrum property. The new owner plans to renovate their latest acquisition with a new roof, all new HVAC systems, upgrades to the existing mechanical, electrical and backup power systems, plus implementing upgrades to the building’s world-class Data Center, designed and engineered to meet Certified Tier III Colocation and Cloud Hosting requirements.
Colliers is marketing spaces ranging in size from approximately 40,000 to 128,000 square feet with up to 7/1,000 parking and the ability to expand the current building by an additional 60,000 square feet.
“2050 Spectrum has differentiated itself as a sustainable and robust state-of-the-art office building. We look forward to attracting tenants who appreciate the building’s unique features with an owner who also recognizes its unique value proposition,” said Colliers Executive Vice President Jonathan Kingsley. Kingsley is joined by colleagues Jarred Goodstein and Ryan Goggins in leading the marketing and leasing efforts. “In South Florida especially, we are always aware of the risks and dangers tropical storms and hurricanes can have on both our property and our businesses -- 2050 Spectrum is fully equipped to address those challenges and to remain fully operational under any circumstances.”
Like many suburban office markets, Cypress Creek continues to strengthen as businesses consider the suburban office markets to be closer to their employment base and for easy access to major road systems. 2050 Spectrum Boulevard is located in the Commercial Boulevard corridor, less than one-mile west of I-95 and two miles east of Florida’s Turnpike.
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About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 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 significant equity ownership and 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
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