DWS Inks Long-Term Office Renewal in Fort Lauderdale

DWS has signed a 22,000-square-foot, long-term lease renewal at Las Olas Centre I, a 210,225-square-foot office building in Fort Lauderdale, Fla. Law firm Gunster has been a tenant for almost two decades and will occupy the space for another 11 years.

Stream Realty Partners Managing Director Greg Katz and Senior Vice President Carlyle Coffin represented the tenant, while ComReal President Tim Talbot and Senior Director Andy Ackerman worked on behalf of the ownership.

Las Olas Centre, up close

The 15-story mid-rise is part of a two-building campus totaling more than 469,000 square feet. DWS acquired the asset in March 2014 for $204 million from USAA Real Estate, according to CommercialEdge data and assumed the outstanding balance of a $57.2 million loan originated by Wells Fargo Bank.

Las Olas Centre I came online in 1997 and features floorplates averaging 20,885 square feet, eight passenger elevators, more than 520 parking spaces and some 35,000 square feet of first-floor retail space. Tenants at the almost 2-acre property include Merrill Lynch Wealth Management, KPMG and Rubin Group Inc., the same source shows.

The LEED Gold-certified facility at 450 E. Las Olas Blvd. is close to downtown Fort Lauderdale and a host of dining options. The South Harbor Plaza shopping center is 2 miles away, while Fort Lauderdale-Hollywood International Airport is some 4 miles south.

Las Olas Centre II, the other building within the campus, is a 259,069-square-foot property completed in 1999. The 18-story tower comprises a newly renovated conference center, 18,000 square feet of retail space and nine passenger elevators.