Leases  ·  Office

Cigna Health Insurer Renews 48K-SF Office in Sunrise

reprints


Cigna Health & Life Insurance Company is retaining its 47,879-square-foot office inside the Sawgrass Corporate Centre II building in Sunrise, Fla.

The 64-month renewal accounts for two full floors and maintains the 94,294-square-foot property at 98 percent occupied, according to a representative for Avison Young, which represented landlords Vanderbilt Office Properties and Barron Colliers

SEE ALSO: Industry Veteran Brent Habeck Joins One Beverly Hills Project as Co-Head of Leasing

The asking rent stood at $24 per square foot. The health provider first moved into the four-story building in 2007.

“Cigna’s decision to renew two full floors at Sawgrass Corporate Centre II shows that quality, well-located office buildings are still retaining large tenants, despite small new lease transactions accounting for most of the current leasing activity,” Avison Young’s Greg Martin said in a statement. 

The broker represented the owners alongside Justin Cope and Lisa Blumer. CBRE represented the tenant. A spokesperson for Cigna did not immediately provide comment.

Sawgrass Corporate Centre II, located at 1571 Sawgrass Corporate Parkway, faces the Sawgrass Expressway, just two miles south of the Sawgrass Mills outlet mall. 

Chicago-based Vanderbilt Office Properties and Naples-based Barron Colliers purchased the office building, which was completed in 2000, for $20.8 million in 2019, per property records.

Julia Echikson can be reached at jechikson@commercialobserver.com