Leading CPaaS Provider More Than Doubles Its Office Space at Design Center of the Americas Building
Miami, FL – Oct. 22, 2021 – Newmark announces it has completed a 12,627-square-foot office expansion lease with IntelePeer, a leading Communication Platform as a Service (CPaaS) provider at the Design Center of the Americas building in Dania, Florida. Supporting the company’s recent growth, the 4,493 square foot expansion brings IntelePeer’s office space to a total of 12,627 square feet.
Newmark Managing Director Clay Sidner represented IntelePeer in the transaction. Sidner has partnered with IntelePeer for its national real estate needs for the past six years, completing five lease transactions during this time period. The asset owner, Cohen Brothers Realty Corporation—a private real estate development and management firm—was represented by John Criddle of Cushman and Wakefield.
“As a growing company, it is important that we have top-notch facilities that attract talent and foster hybrid collaboration among our employees and our clients,” commented IntelePeer CEO Frank Fawzi. “The Design Center provides IntelePeer with the amenities and inspiration we need to stay on top of our game, which is critical to our success.”
IntelePeer provides industry leading time-to-value and rapid time to improved digital customer experiences with solutions that work seamlessly with existing business software and infrastructure. According to independent research by Nemertes Research, IntelePeer’s Atmosphere CPaaS platform helps enhance customer experience ratings by 31%, increasing revenue by 28% and decreasing costs by 53%.
“This lease is a great example of the growth of the South Florida office market as tenants begin to assess their real estate needs post-pandemic,” said Sidner. “IntelePeer’s expansion is just one example of tenants recommitting to and expanding their office space needs in the region.”
According to Newmark Research, the Broward County office sector saw leasing activity tick upward between the first and second quarters of 2021, recording 210 lease deals totaling more than 575,000 square feet during the second quarter. This represents a notable increase from the 118,000 square feet leased during the second quarter of 2020.
The Design Center of the Americas is a four-story, 734,225-square-foot, Class A office building and design resource center located at the intersection of I-95 and Griffin Road in Dania Beach, Florida. In addition to office space, the building features over 35 design showrooms catering to interior designers, architects, decorators and design enthusiasts. The building also provides spaces for screenings, exhibitions, lectures, meetings, special events, fashion shows and receptions. The property has recently undergone major renovations and is noted for its ideal location, generous floor plans and exceptional amenities. It is proximate to major highways, hotels, restaurants and three international airports.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
IntelePeer delivers rapidly deployable communications solutions for an always connected world. Powered with AI and analytics, our omnichannel platform instantly improves your customers’ communications experience. IntelePeer provides industry leading time-to-value with automated communications solutions that work seamlessly with existing business software and infrastructure. Our no code templates, low code, co-creation, and developer API options provide customers with simple, easy-to-use tools that can be utilized by anyone and are also accessible through developer APIs. For more information visit: intelepeer.com
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Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
Valerie Christopherson or Lora Wilson
Global Results Comms (GRC)
+1 949 608 0276