Berger Commercial Realty-Joe Byrnes_John Forman 800x400

Berger Commercial Realty Brokers Davie Land Sale For New Mid-Rise Residential Project

Berger Commercial Realty/Corfac International Senior Vice President Joseph P. Byrnes and Senior Sales Associate John Forman represented seller HWW Davie LLC in the $8 million sale of ±4.05 acres of vacant land located on Reese Road in Davie to Atlanta-based developer ArchCo Residential LLC.

ArchCo Residential, who was represented by Chris Smiles with CBRE, is planning to develop 172-unit, mid-rise residential community.

The deal closed August 19.

“With the proximity to University Drive and the colleges, this site is the perfect location for the project that Archco Residential has planned,” commented Byrnes.

The subject property features frontage on I-595, close proximity to South Florida Education Center (Broward College, Nova Southeastern University, FAU, etc.), and close proximity to retailers and other amenities.

Reese Road Land-Aerial

It will be the developer’s second project in Florida. In 2020, ArchCo Residential LLC, in a joint venture with Bluerock Real Estate, completed a 385-unit, six-story building dubbed “Motif,” located at 500 N Andrews Ave in Fort Lauderdale. at surrounding a central seven-story parking structure, with 25,000 square feet of ground- floor retail space. The project totals 372,331 square feet.

Berger Commercial represented the property owner in a lease to Amazon for a short-term commitment. Through the relationship and value that Berger brought to the owner, Berger was awarded the listing to sell the property.

 

 

-------------------------

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

And we promise…no more than one email each morning.

 

CLICK HERE TO SUBSCRIBE TODAY!