Who says the office market is dead? This insurance company just signed a 7-year lease
While many companies are thinking of reducing office space as employees work remotely, others are looking for space.
Case in point: Tampa-based cloud-based tech platform Health Insurance Innovations has leased almost 20,000 square feet at 1300 Sawgrass Corporate Parkway in Sunrise. The $4 million transaction is a seven-year sublease from Synechron a New York-based digital consulting company that never moved in. The space if fully furnished.
Colliers International Florida’s Jonathan Kingsley, Jarred Goodstein, Ilyssa Ettelman, and Mark Tesser represented Synechron in the transaction. Paul Levine of Commercial Space Realty represented Health Insurance Innovations.
“This sublease highlights that economic uncertainties present opportunities for tenants’ changing space needs,” said Kingsley, executive managing director of office services for Colliers International Florida. “We were able to find a replacement tenant within 90 days of getting the assignment, with terms very close to the existing obligation.”
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Synechron is cutting back on its office space in Sunrise to save on costs as it delegates work to its other 18 offices, Kingsley said. The company has another 9,000 square feet in Fort Lauderdale and plans to retain it.
This story was originally published May 22, 2020 at 7:00 AM.
