Offering Memorandum - Offering Memorandum The Square One Building 351 S. Cypress Road Pompano Beach, FL
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Forte Commercial
Property
Services, Inc.
Offering
Memorandum
• Offering Memorandum
The Square One Building
351 S. Cypress Road
Pompano Beach, FL
33060
Building Specifications & Financials Property ID #: 4942-02-30-0020 Year Built: 1985 Rentable Square Feet: 46,454 +- Parking Spaces: 138 2018 Assess Land Value: $ 952,590 Parcel Size: 105,843 square feet or 2.42 Acres 2018 Building Improvement Value: $4,647,530 2017 Taxes: $118,797.34 Projected 2018 Operating Expenses: $308,000 [includes property taxes] Income: $384,000 Potential NNN Income: $840,000 +- Misc. Income & Reimbursements from Publix, U.S. Healthworks, and tenants: $10,590 Zoning: B2
Rent Roll
Suite ID Tenant Name Lease Start Lease End Original Sq Ft Vacant Space Base Rent Ann Sq Ft Rate CAM CAM Rate
100 Duro Beam LLC & 3/1/2014 3/31/2020 1300 $ 12.88
Shore USA LLC options to 2019 310 $ 12.88
105 Bank - vacant 2629
Bank - Drive through lanes 2000
110 Capital Advances, LLC 3/1/2018 2/28/2018 4450 $ 4,450.00 $ 11.40 $ 2,818.00 $ 7.60 moving to 110
115 Duro Beam LLC & 4/1/2016 3/31/2020 1540 $ 3,381.00 $ 12.88 Renew Market Rate only
Shore USA LLC
200 The Starr Law Group 2/18/2017 2/17/2018 1800 $ 2,652.00 $ 17.68 Renew Market Rate only
201 Vacant 2/18/2017 2/17/2018 1080
205 Selective Investigations, Inc. 4/1/2017 3/31/2019 1080 $ 999.00 $ 11.11 Renew Market Rate only
210 Vacant 2270
215- Vacant 2450
300 Intn'l Preferred Entprs 9/1/2015 8/31/2018 1196 990 $ 1,575.46 $ 16.78 Renew market Rate only
301 Oasis of Hope CDC, Inc. 8/1/2016 7/31/2018 750 $ 656.25 $ 10.50
*Not for Profit organization
303 Dynamic Engineering Solutions, Inc. 12/1/2017 11/30/2019 600 $ 636.54 $ 12.73 2 options to renew
305 Martin C. Kidwell CPA, PA 11/11/2016 12/31/2017 1737 $ 1,737.00 $ 12.00 7 options to renew
307 Keller Asebey Life Science Law PLLC 3/1/2017 2/28/2018 575 732.85 $ 15.30 Option to renew by permission only
Renew Market Rate only
310 Hoffman-Van Vorst Accounting 4/1/2016 6/30/2018 2140 $ 2,140.00 $ 12.00 Options to renew through 2020
313 Management Office-Trieste RE Corp 513
315 MSDS Express 2/1/2017 7/31/2018 805 $ 837.20 $ 12.50 No Options to renew
Renew Market Rate only
316 Mel Prager Inc. 4/1/2017 3/31/2020 760 $ 1,076.66 $ 16.99
317 Vacant 1/1/2015 12/31/2018 448 $ 625.00 $ 15.00
318 William V. Hickey 1/2/2018 1/31/2020 325 $ 433.33 $ 16.00 Options to renew by permission only
Renew Market Rate
400 Capital Advance LLC 6/1/2017 4/1/2018 1525 $ 2,033.33 $ 16.00 Moving to ste 110
402 Absolute Underwriting 1/1/2011 12/31/2017 1093 $ 1,033.00 11.40% Month to Month
Mgrs. Inc. Renew at Market rate
404 David Moore, CPA 12/1/2017 11/30/2018 1475 $ 1,754.80 $ 14.28 No Options to renew
405 Vacant 630
406-407 A Buyers Choice, LLC 10/1/2016 9/30/2018 912 $ 1,293.00 No Options to renew
6/15/2013 6/30/2018 732
408 First Care Home Health Service, Inc. 3/15/2017 3/14/2019 490 $ 653.33 $ 16.00 Options to renew w 90 day notice
Market rete
409 Vacant 3386 3306
23231 20766 $ 28,699.75 $ 2,818.00
Overview of The Square One Building I
Since 1980 Square One Building has served its
immediate business community for office
space and retail banking services. Once the
headquarters for Wendy’s corporation, it is
now poised to be included a zone close to
the City of Pompano Beach’s new Downtown
and Innovation districts.
Zoned with a B2 classification, the building owns
the most flexible business zoning designation
possible. Its 46,000 +-square footage and
innovative architectural design offers a
multitude of buildout possibilities due to the
absence of interior columns. A corporate
headquarters could occupy well over 10,000
square feet of space on one floor if the
corridors were removed.
The parcel is situated on 2.34 acres and has 138
parking spaces and shares access to a Publix
grocery store and U.S. Healthworks medical
clinic.
Located just two blocks of Atlantic Boulevard, the
building is located 1 mile from I-95, minutes
from Federal Highway, 15 minutes from Boca
Raton to the North, and 15 minutes from Ft.
Lauderdale International Airport to the South.
Overview of The Square One Building II
Square One Building is a four-story
building with the fourth floor capable of
retail business.
Floors two through four each possess
independent air conditioning systems and
electric meters.
The ground level suites have their own
independent air conditioning system.
Electricity is metered for the entire floor
except the bank space. Water is metered
for the entire building.
Two Mowrey passenger elevators have
been retrofitted with high style woven steel
panels and chrome accents for the
ultimate business building image.
The front door has a secure entry system
with intercom allowing flexibility for 24/7
use while at the same time preventing
unwanted visitors.
This neighborhood landmark building
towers over the area to Atlantic Boulevard
and roofline signage will have the
optimum visibility to I-95 and Atlantic to
the East.
Description of Tenants
Current tenant mix varies from
professions such as Engineering
Design to Certified Accountants to
federal and local contractors with
technical specialties.
The majority of the fourth floor leases are
expiring this year leaving an
opportunity for a Corporation to
occupy 95% for its own use. The floor
has stunning views of the City and
ability for customization for
operations.
A recent analysis by members of Forte
Commercial Property Services
determined that triple net leasing is
possible to achieve due to positive
market changes and a demand for
office space in Pompano Beach.
The first triple net lease was signed on
March 1, 2018 and all marketing
reflects triple net lease rates
comparable with other listings in the
33060 zip code area.
Property Aerial View
Property Photographs Front Walkway on West view of drive through Cypress Road lanes
Building finishes in the second through fourth floors are
Main Lobby with granite walls and furnished with neutral color schemes, Emperador Light
detailed ceilings & recessed granite flooring with carpet borders.
lighting. Porcelain tile floors with
granite e accents.
Building Photographs
Typical Common Area Restrooms are finished in
neutral color schemes, granite veneer counter
tops, and wall & floor tile by Dal Tile
The majority of the offices are finished in coordinating
neutral color schemes with wall color, trim, and
commercial carpeting. An abundance of natural and
artificial lighting help office efficiencyTraffic Counts & Features Map
Population Projection Report [1 Mile Radius]
Contact Information & Links
Melanie Zatti, Broker
561-236-4526
mzatti@fortecps.com
Robert Morvillo, Broker Associate
561-345-0306
bobmorv@gmail.com
www.thesquareonebuilding.com
www.fortecps.com
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