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| September 23, 2005 |
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| BROADWAY PARTNERS ANNOUNCES LEASE RENEWAL FOR STERLING FINANCIAL AT 1200 CORPORATE PLACE IN BOCA RATON |
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BOCA RATION, FL (September 23, 2005) — Broadway Real Estate Partners, LLC (Broadway Partners), a national commercial real estate investment firm headquartered in New York, has an¬nounced a long-term lease renewal for Sterling Financial Group at 1200 Corporate Place, located at Boca Raton FL.
Sterling Financial Group, a national financial services company, has renewed its 16,000 square-foot lease. The 1200 Corporate Place office is located just north of downtown Boca Raton, at the intersection of Glades and Federal Highway.
“We are very pleased to announce that this prestigious company has decided to renew its lease at 1200 Corporate Place for another nine years,” said Scott Lawlor, chief executive officer and founder of Broadway Partners. “The proximity of 1200 Corporate Place to the coast and to high end housing makes the building particularly attractive to financial services firms like Sterling Fi¬nancial.”
Grubb & Ellis represented Broadway Partners in this transaction and CB Richard Ellis represented the tenant.
1200 Corporate Place is a 128,959 square foot four-story office building built in 1984. Just north of downtown Boca Raton, at the intersection of Glades Road (a major east-west thoroughfare that connects to interstate 95) and Federal Highway/US-1, the asset is easily accessed from any part of the market, and is proximate to high-end housing, restaurants, and other amenities.
The building offers an attractive four-story atrium style lobby highlighted with marble flooring and interior fountains. Amenities at 1200 Corporate include Executive Suites, a delicatessen, on-site bank, covered parking, 24-hour security and energy management systems.
The Boca Raton submarket is located in the West Palm Beach MSA. It is well situated between downtown Ft. Lauderdale to the south and West Palm Beach to the North. Boca Raton is known for its high-end residential communities, Atlantic coastline, fine restaurants, upscale shopping in¬cluding Town Centre Mall and Mizner Park, and many golf courses. These attributes make Boca a highly desirable location for both corporate users and smaller upscale tenants.
About Broadway Real Estate Partners
Broadway Real Estate Partners, LLC is a private national real estate investment and management firm headquartered in New York City. Its partners represent a cross section of domestic and in¬ternational private and institutional investors. The firm invests in high quality office properties in select markets nationwide. Since 2000, Broadway Partners has purchased over six million square feet of office space with a value in excess of $1.6 billion.
For more information, contact Charles Millard at Broadway Partners’ New York headquarters at 212.319.7100 or visit www.bwaypartners.com.
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