Atlanta Investment Group Acquires Deerfield Beach Office Property In $21 Million Deal

CBRE Capital Markets arranged the sale of 800 Fairway, a four-story suburban office building located at 800 Fairway Drive in Deerfield Beach.
According to Broward County records, Fairlead Commercial, an Atlanta-based investment group, acquired the property for $21,000,000 on November 10.
CBRE represented the seller in the transaction.

“800 Fairway offers tremendous upside potential through the lease-up of over 40,000 square feet of vacant space, in-place rents that are below market, and projected market rent growth of close to 40% over the next 5 years,” said CBRE Vice Chairman Christian Lee.

The property is currently 73% leased to a well-diversified roster of national credit and regional corporate tenants in the financial, healthcare, technology and insurance sectors.
Built in 1987, 800 Fairway’s multi-tenant design centers around a five-story atrium lobby. The former owners completed renovations to the lobby, common areas and fitness center.
The CBRE Capital Markets team involved in the transaction included Mr. Lee, José Lobón, Marcos Minaya; and Charles Foschini and Chris Apone with CBRE Debt & Structured Finance.
 

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