John Criddle and Joseph Freitas Negotiated New Leases with Gift of Life, The North West Company and Jay @ Play
BOCA RATON, FL, May 31, 2019 — Cushman & Wakefield has secured three new office leases totaling ±36,539 square feet at Sabre Centre I, an office property in Palm Beach County owned by Grover Corlew, a Florida-based real estate investment management group.
The Cushman & Wakefield office leasing team of John Criddle and Joseph Freitas recently negotiated national headquarters leases with Gift of Life, The North West Company and Jay @ Play on behalf of Grover Corlew.
“Sabre Centre I represents the transformational renovations we are known for,” said Grover Corlew Partner Mark Corlew. “We purchased the property in 2016, investing more than $2 million into common area and mechanical upgrades and improvements in order to provide prominent companies with a sophisticated office experience that includes quality aesthetics and a strong property management team.”
Gift of Life, a non-profit organization dedicated to helping cure blood cancers and identifying bone marrow donor matches, leased 21,807 square feet for its headquarters at Sabre Centre I. John Jaspert of CBRE represented Gift of Life in the lease negotiations.
The North West Company leased 10,717 square feet for its new U.S. headquarters at Sabre Centre I. The North West Company is a Winnipeg, Canada-based retailer serving rural communities and urban neighborhoods throughout Canada, Alaska, the South Pacific and the Caribbean, and plans to employ over 40 people at Sabre Centre I. CBRE’s Chris Gallagher negotiated the lease on behalf of The North West Company.
Toy manufacturer Jay @ Play leased 4,015 square feet at Sabre Centre I, where it houses its headquarters and showroom. Richard Gerber of Box Real Estate represented Jay @ Play in the lease negotiations.
Sabre Centre I is a six-story, Class A office building offering efficient floor plates, floor-to-ceiling windows with unparalleled golf course views of The Old Course at Broken Sound, on-site property management and 24/7 access.
Sabre Centre I is located 5901 Broken Sound Parkway NW in The Park at Broken Sound, a 700-acre business park in Northwest Boca Raton. The building is proximate to Boca Raton Executive Airport, Downtown Boca Raton and Mizner Park while offering excellent access to Palm Beach International Airport and Fort Lauderdale/Hollywood International Airport via Interstate 95 and Florida’s Turnpike.
Criddle and Freitas were selected to reposition and rebrand Sabre Centre I in 2018 as Grover Corlew finalized a complete lobby, common area and elevator modernization. Under Criddle and Freitas’ leasing guidance, the building’s occupancy has increased from 69% to 88% and rates have increased over 35%.
“Companies are making a long-term investment in Florida by moving here, bringing top talent and making capital investments,” added Grover Corlew Partner Anuj Grover. “They find value in easily accessible, modern suburban office buildings. Our signature properties fulfill those needs.”
Other notable tenants at Sabre Centre I include BSN, IWS, Lamark Media and Education Dynamic. 11,998 square feet remains available at $20.00 for lower floors and up to $25.00 NNN for upper floors with floor-to-ceiling windows directly overlooking The Old Course at Broken Sound.
“Leasing activity at Sabre Centre I has been driven by Grover Corlew’s significant investment in the property, increased development activity in The Park at Broken Sound and the property’s central location in Palm Beach County,” said Criddle.
About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeastern U.S. Grover Corlew has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeastern U.S.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida