Plantation Office Market Prime Alternative to Pricey Downtown Fort Lauderdale
As Fort Lauderdale’s downtown becomes densely populated with new residents and short on office space, businesses are looking for the next urban setting to provide their employees with more than just a place to work. Large corporations representing a wide variety of services and industries are choosing Plantation and are spurring a development trend in response to the growing demand.
Companies like Magic Leap, e-Builder, Google-owned Motorola Mobility, Virgin Voyages (formerly Virgin Cruises), DHL, and Sheridan Healthcare are taking advantage of the city’s available office space and its high-quality live, work, play environment, and others are following suit. Encore Capital Management, the developer of Plantation Walk, the $350 million mixed-use office, retail, residential, and hotel destination, is currently outfitting its 160,000-square-foot Class A office space for another large-scale company.
“The Offices at Plantation Walk brings together the characteristics companies and their employees search for in terms of a workplace – we’re offering an amenity-rich environment in a walkable area that rivals downtown Fort Lauderdale in terms of workforce amenities, lower rent, convenient and low-cost parking and optimized space, combined with the nearby residences,” said leasing broker Jay Adams of Newmark Grubb Knight Frank.
The office space is currently undergoing a complete renovation and modernization of its interior spaces and its utility systems after being stripped down to its bare shell. Crews recently added state-of-the-art energy efficient windows along with a new roof, plumbing, electricity, elevators, and HVAC. The adjacent 2,600-space parking garage is also being fully renovated and represents one of the largest parking structures in the County. Crews are near completion of painting and installing new lighting, railings and elevators.
In addition to the Class-A office space, Plantation Walk will include 700 luxury rental apartments under Encore’s “The Rise” apartment brand and 173,000 square feet of unique shops and distinctive restaurants. Winding throughout the property will be pedestrian-friendly outdoor seating, walkways, and green spaces creating a vibrant downtown-style destination. The 260-room, all-suite Sheraton will now face the office building with a pavered and landscaped promenade.
The growth in commercial leasing and population has spurred development of new restaurants, as six national restaurant chains, in addition to a Lucky’s Market, opened recently in Plantation to cater to the corporate lunch-time crowd, with more on the horizon.
“For companies with hundreds or even thousands of employees, Plantation offers excellent public schools, home prices and amenities that just aren’t available anywhere else in Broward County,” said Adams. “It’s a unique destination that provides a strong corporate setting within a desirable suburb.”