Flagler today announced its brokers closed approximately 1.3 million square feet of new and renewed leases across Florida in the fourth quarter of 2010. Flagler’s fourth quarter figures bring the company’s total square footage of property leased or sold during the year to nearly 6.6 million square feet, a 40 percent increase from last year’s totals. In Jacksonville, Flagler closed more than 518,000 square feet of new and renewed leases during 2010.

“Flagler signed several significant long-term leases in Jacksonville during 2010, primarily in our Deerwood business parks,” said Karl Hanson, Flagler Vice President and Market Officer, North Florida. “This is an indicator that businesses are looking for centralized office spaces that offer an ideal location for their employees and clients. We anticipate that 2011 will see many similar leases as businesses look to relocate, expand or upgrade their current office spaces.”

Noteworthy deals in the Jacksonville region during 2010 include:

• Adecco Group North America leased 78,292 square feet of office space at Deerwood South 200
• NGM Insurance Co. renewed its lease for 67,694 square feet of office space at Deerwood North 300
• Wachovia Settlement Services renewed its lease of 54,961 square feet of office space at Flagler Center 400
• Fortegra Financial Corporation leased 49,481 square feet of office space at Deerwood South 100
• Ultrasound Technical Services renewed its lease and expanded to 35,071 square feet of office space at Avenues Building 500
• Value Options renewed its lease for 30,750 square feet of office space at Avenues Building 1
• Arizona Chemical Company renewed its lease of 27,739 square feet of office space at Deerwood North 100
• Black Diamond Performance Reporting leased 20,540 square feet of office space at Deerwood South 400

Congratulations to Flagler on a successful 2010! What are your predictions for the commercial real estate market in 2011? Let us know in the comments section below.