Senior Vice President Keith R. Graves, CCIM and Senior Sales Associate Jonathan Thiel represented the seller, Cypress Executive Center, LLC, in the sale of 2900 W. Cypress Creek Road, a 42,438-square-foot, two-story office building located at 2900 W. Cypress Creek Road in Fort Lauderdale.
MMB Commercial Properties, Inc. paid $5,800,000 for the property, which is situated on 2.28 acres. MMB Commercial was represented by Jerry de los Reyes Patricio with Miami Lifestyle Realty in the transaction.
The deal closed July 30.
“The property was purchased in part due to the stable rent roll, the building being strategically located in the middle of the tri-county area, and investors seeing value add opportunity in the South Florida commercial real estate market right now,” commented Thiel.
The property was 96% occupied at the time of the sale with a mix of office and medical tenants.
Featuring frontage on Cypress Creek Road, the fee simple property is located right next to the Fort Lauderdale Executive Airport, minutes from I-95, Florida’s Turnpike and the US 441/SR 7 corridor.
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