Newmark announced today that it brokered a 77,105-square-foot lease expansion for Hayes Medical Staffing at Cypress Financial Center in Fort Lauderdale. Hayes Medical Staffing is one of the fastest growing companies in South Florida, and it expects to create an additional 250 jobs. The deal reflects continued leasing momentum buoyed by favorable economic conditions across Broward County and South Florida.
Hayes Medical Staffing will retain its existing space as well as expand into new workspace at the Class A office building this fall. The tenant qualified for tax incentives under the State of Florida’s Qualified Target Industry Program, which encourages the creation of high-skill jobs and the growth of corporate headquarters in targeted industries.
The 206,773-square-foot building is owned by Steelbridge and features a newly renovated lobby and common areas. Newmark Executive Managing Director Mitchell Millowitz and team members Randy Johnson, Sami Millowitz and Ryan Rosalsky represented the tenant. The team also included Barry Lapides of Berger Singerman. The owners were represented by Travis Herring of Cushman and Wakefield.
“We’re pleased to represent Hayes Medical Staffing with its corporate headquarters expansion, which ushers in a new era of growth and prosperity for the company and adds stature to the Cypress Creek area of Fort Lauderdale,” said Millowitz. “Cypress Financial Center is the submarket’s premier office asset, and the recent capital improvements and amenity upgrades delivered by Steelbridge will allow Hayes Medical Staffing to attract top talent across South Florida.”
According to Newmark’s 2Q19 South Florida office report, demand continued to outpace supply for its seventh year. Class A space led both leasing activity and absorption in the first half of the year with 3.5 million square feet of transactions completed. Broward County held the lowest vacancy rate in the region for the third consecutive quarter, dipping to the 10% market and its lowest point since 2007. Read the full report HERE
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.