Colliers selected for leasing of Coastal Tower under new ownership
Fort Lauderdale, FL | August 17, 2018 – Investment and property management firm Cardinal Point Management, LLC has named Colliers International South Florida as the exclusive leasing agent for Coastal Tower, an iconic 261,676 SF Class A office building in Northeast Broward County. The office leasing team of Jonathan Kingsley, Jarred Goodstein and Ryan Goggins was selected by the Tampa Bay-based owner based on demonstrated success of the leasing team’s approximately 2.5 million square feet of Class A and B office agency assisgnments in Broward County, which are 90% leased.
Coastal Tower, a 12-story, Class A office building, is located on the southeast corner of Commerical Boulevard and Federal Highway/US 1, near the the Coral Ridge residential neighborhood and close to beaches, hotels and restaurants. The building is ideally situated within a large East Fort Lauderdale population base of office users from the surrounding neighborhoods choosing to avoid the gridlock and high costs of officing Downtown.
Although Coastal Tower prvides an attractive alternative to Downtown Fort Lauderdale office space, particularly for local executives, the building’s occupancy has lagged in the market, despite available suites in line with market demand, ranging from 1,000 SF to 21,000 SF of contiguous space available. The new Owners are signalling their commitment to the asset by selecting a new leasing team, and planning significant upgrades for the building, such as common area improvements, enhanced technology and a state of the art Conference and Amenity Center for meetings and events, and tenant lounge areas. In addition, Cardinal Point will be implementing a redesign of the main lobby and common corridors on the multi-tenant floors.
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For further information, please contact:
Paola Iuspa-Abbott on behalf of Colliers International South Florida
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