Rinker Materials Signs 12,600-SF Sublease

WEST PALM BEACH, FL-Rinker Materials Corp. has inked a deal to sublease a full floor of 12,600 sf of office space at One Clearlake Centre in here. The 33-month lease, at 250 S. Australian Ave., has an approximate value of more than $505,000.

The lease is an example of the sublease market being absorbed.

“It was a challenging time, given the tough market, to sublease a full floor,” says John Jaspert of Codina Realty Services, who represented the sublandlord, Mill’s Pride, in the transaction. “We marketed it aggressively to accomplish what our client wanted, and we did a great deal. The deal had a positive impact on the absorption in the area.”

Equity Office owns the 18-story, 215,000-rentable-sf building. John Hokanson of Tower Realty represented Rinker Materials Corp.

Locally based Rinker Materials Corp., in the construction and building materials industry, produces concrete block, pipe, aggregate, ready-mixed concrete and cement.