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2100 N Commerce Pkwy Weston...

Ultimate Kronos Group Expands South Florida Offices With Lease Renewal At Weston Pointe Office Park
LEASEDOffice

Ultimate Kronos Group Expands South Florida Offices With Lease Renewal At Weston Pointe Office Park

2100 N Commerce Pkwy Weston, FL 33326, USA

$18

$18/SF

Building Size

154,671 SF

Asset Type

Office

Closing

Jul 26, 2023

AI

New York Life Real Estate Investors has recently leased office space in Weston, Broward County. The property, located at 2100 & 2400 N. Commerce Parkway, falls under the asset type of Office. The lease deal involves the tenant, Ultimate Kronos Group, Inc. (UKG), a national software company specializing in HR and payroll services. The lease agreement is brokered by Cushman & Wakefield representatives, including John Boyle, Tony Jones, Mary Burnieika, Deanna Lobinsky, and Chase Kulp.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 2100 & 2400 N. Commerce Parkway, Weston
  • Tenant: Ultimate Kronos Group, Inc. (UKG)
  • Landlord: New York Life Real Estate Investors - Joe Thomas
  • Brokers: John Boyle, Tony Jones, Mary Burnieika, Deanna Lobinsky, Chase Kulp - Cushman & Wakefield

Ultimate Kronos Group (UKG) is expanding its South Florida corporate offices within the Weston Pointe office park. This expansion adds 14,072 square feet to the company's existing office space, bringing the total area to nearly 155,000 square feet. The lease agreement with New York Life Real Estate Investors represents the largest office lease renewal in Broward County since 2019. This development signifies UKG's commitment to its South Florida operations and the company's ongoing growth in the region.

Players

Tony Jones

Cushman & Wakefield

Broker

12 deals

Broker
NI
New York Life Real Estate InvestorsLandlord

Miami Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

881277.78%

Cash-on-Cash

-251871.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93