Tech Company IntelePeer Expands Lease at Design Center of the Americas
By Julia Echikson October 21, 2021 5:06 pm
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As online retailer Chewy vacates its headquarters at the Design Center of the Americas near Fort Lauderdale, Fla., another tenant is more than doubling its footprint at the property, Commercial Observer has learned.
Tech company IntelePeer signed a new 10-year lease for 12,627 square feet at the Design Center in Dania Beach, according to broker Clay Sidner of Newmark, which represented the firm. IntelePeer first moved into the building, located at 1855 Griffin Road, in June 2018, occupying 8,134 square feet.
“This lease is a great example of the growth of the South Florida office market as tenants begin to assess their real estate needs post-pandemic,” Sidner said. Vacancies in Broward County remain up from this time last year at 16.9 percent, but down from the previous quarter, according to a report from Cushman & Wakefield.
Asking rent at the four-story Design Center of the Americas stands at $32 per square foot.
The 734,225-square-foot office complex housed the headquarters of Chewy, a billion-dollar pet e-commerce company. Earlier this year, the retailer signed a 221,590-square-foot sublease across Broward County at Plantation Pointe.
Founded in 2003, IntelePeer is a communications platform offering firms voice messaging services as well as real-time analytics. The company will keep its headquarters in San Mateo, Calif., and is growing its headcount in Florida.
Cushman & Wakefield’s John Criddle represented the property owner, Cohen Brothers Realty Corporation.
Julia Echikson can be reached at jechikson@commercialobserver.com.
