Law office Stok Kon + Braverman completed an 11-year, 9,285 square foot lease transaction to 1 East Broward Blvd. in Fort Lauderdale, Florida.
Stok Kon + Braverman has been subletting space in the building as its main offices since 2019 and has now signed on as an anchor tenant. The company chose the location in 2019 for its proximity to transportation and amenities, according to the owner, NAI/Merin Hunter Codman.
“Creating a welcoming, safe and convenient office space experience for their employees was of utmost importance as most of the company’s employees returned to in-person work after the initial lockdowns,” NAI/Merin said. Hunter Codman. Adam Star said in a statement.
The 19-story, 350,000-square-foot office building nestled between the Las Olas and City View sections of Fort Lauderdale was purchased by NAI/Merin Hunter Codman in 2018 for $108.5 million, property records show. Since then, renovations have been made to the lobby, common area, lighting and bathroom, making it a Class A asset.
Stok Kon + Braverman also operates a satellite office in 639 East Ocean Avenue at Boyton Beach. The firm practices real estate law, commercial litigation, bankruptcy and immigration law. And they’re not the only law firms in their new building, with Meldon Law taking up space with Next Level Marketing.
Merin Hunter Codman declined to provide the requested rent or name the brokers involved in the transaction.
According to a report by Avison Young.
Rent growth has been slower in Fort Lauderdale than in Miami and West Palm Beach, where some landlords raised rent as much as $10 in the first quarter, according to Avison Young. In Fort Lauderdale, overall rental rates rose 2% to $37.21 in the first quarter.
Fort Lauderdale’s net uptake in the first quarter was about 169,633 square feet, according to Avison Young.
‘Mark Hallum can be reached at [email protected].