Strong leasing activity at Society Las Olas with the project reaching an impressive milestone – 95% of all first tower units leased in under one year.
Society Las Olas, Greybrook and PMG’s multi-family luxury rental project in Fort Lauderdale, is in the leasing phase following the successful completion of construction on the first tower. The project continued to experience extraordinary interest since our last update, with over 95% of the first tower now leased; this achievement comes approximately one year since the date of first occupancy.
To further drive the already strong leasing momentum, we have successfully executed a master lease agreement with Sonder – a global hospitality brand serving over 1 million guests in 30+ cities worldwide, for 99 out of 639 residential units in the first tower. This agreement is expected to further increase occupancy rates once Sonder commences operations in July 2021. Furthermore, Management is currently in negotiations with a local café operator to lease the entirety of the ground floor retail space, which is expected to further drive leasing momentum and add value to the first tower once operations commence by early 2022.
Society Las Olas is a unique, modern luxury rental development that features access to a series of exceptional amenities, such as a huge modern gym and fitness studio, massive pool deck, three-level coworking lab, and extraordinary sky terraces with unobstructed views of the water. The project is designed to craft a one-of-a-kind attainable luxury living experience while building a strong community within the renter cohort. Located on the Las Olas Riverfront, in the heart of Downtown Fort Lauderdale, the development provides an urban living experience and opulent views of the natural landscapes the city has to offer.
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