Kos Pharmaceuticals Leases 96,175-SF Weston Pointe IV

WESTON, FL-Kos Pharmaceuticals Inc. has signed a lease for the entire four-story, 96,175-sf Weston Pointe IV office building at 2100 N Commerce Parkway. Within the past 18 months, the Cranberry, NJ-based company has expanded from 24,000 sf to 51,000 sf in the 97,180-sf Weston Pointe II building on the campus. It will relocate when the fourth building is completed in December.

The aggregate value of the new Kos lease is in excess of $10 million. Robert Banks of Properties Group represented Kos in the negotiations. Mark Levy, VP of Indianapolis-based Duke Realty Corp., represented the owner. Duke owns the four-building complex, which consists of nearly identical buildings aggregating 390,615 sf. According to Levy, the Kos transaction brings occupancy at the campus to more than 97.5%.

“Kos’ former space in Weston Pointe II is highly marketable, and we expect to re-lease it very rapidly,” Levy says. The average asking rental rate in the buildings is $19 per sf, triple net. According to third-quarter data from the Fort Lauderdale office of CB Richard Ellis, the vacancy rate in Southwest Broward is 7.7%, the second lowest after Hollywood in the county.