AY's Duckworth Completes Second Broward Sale Transaction In One Week

David Duckworth, Vice President of Investment Sales with Avison Young, represented the buyer, MCTUCHAUS LLC, in a $4.095 million off-market acquisition of Chase Bank Office Building, a 27,312-square-foot 3-story office building located at 3201 North Federal Highway in Oakland Park.
Marking the second investment sale Duckworth closed in the past week, this transaction is consistent with the trend of Broward County’s submarkets leading investment sale activity in 2014.
“We saw untapped opportunity in this asset and approached the ownership of the building directly to begin discussions for this off-market sale,” said Mr. Duckworth. “The building has a long-term income stream from an existing credit tenant and great upside potential for the future.”
Positioned at the corner of one of Broward’s most sought after intersections, Federal Highway and Oakland Park Boulevard, the Chase Bank Office Building is a three-story building catering to a variety of medical and general office tenants.
“As the ownership was not motivated to sell this asset, the negotiation process was long and complicated,” continued Duckworth. “Ultimately, we were able to arrive at a mutually acceptable deal for the previous ownership, and a strategic acquisition for my client.”