Berger Commercial Realty has been retained as the exclusive agent for the sale of Lauderdale Marketplace, a three-building retail property in Lauderdale Lakes listed for $32 million.
Owned by Lauderdale Marketplace Investments, LLC, notable tenants include Broward Health, YouFit Health Club, Humana, Davita Dialysis, Papa John’s, the Broward Sheriff’s Office, the Department of Veteran Affairs, and the Department of Highway Safety and Motor Vehicles. The property is 87 percent leased.
“Stability is a key feature of this property with most tenants on long-term leases,” said Berger Commercial Realty Vice President Joseph Byrnes, who has served as the property’s exclusive leasing agent for years. “The property’s functional and versatile building design, abundant parking, and convenient, central location have created a history of stable occupancy and quality tenants over the years.”
Lauderdale Marketplace is located on almost 30 acres of land on the southeast corner of Oakland Park Boulevard and State Road 7, a short distance from I-95 and Florida’s Turnpike. It was originally built in 1986 and 1987.
“In addition to its stable tenant mix, Lauderdale Marketplace also provides an excellent long-term opportunity to redevelop the entire site as a multi-purpose city center,” Byrnes added. “The areas of central and western Broward County are experiencing a boom right now, and Lauderdale Marketplace offers a prime location for further growth.”
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