Lakeside Plaza OM

LAKESIDE PLAZA | BROWARD OFFICE MARKET

OUTLOOK The office market in Broward County continued to experience growth both in suburban and CBD submarkets on decreasing available options. New construction is now being proposed as tenant demand strengthens in the office-using sector. Cushman & Wakefield anticipate continued improvement throughout the Broward County area. CYPRESS CREEK OFFICE SUBMARKET The Cypress Creek submarket benefits tremendously as the only submarket in Broward County set adjacent to Interstate 95, the major thoroughfare of South Florida and the Eastern United States. The fundamentals of this marquee submarket are posied for significant tightening. There is no new office supply under construction anywhere in Cypress Creek. As a result, the average gross asking rent in the submarket has increased 6.5% in the past 24 months. In terms of total size, Cypress Creek is the second largest office market in Broward County, with only the CBD having more square feet. Stability within the submarket is provided by the plethora of credit tenants that occupy large blocks of space. Tenants such as Citrix, State Farm Insurance, TD Bank, Liberty Power, AlphaStaff, Microsoft and University of Phoenix. Furthermore, it has been speculated that Autonation could be moving their entire headquarters operation to a build-to-suit in Cypress Creek.

LAKESIDE PLAZA

MARKET OVERVIEW

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