Berger Commercial Realty’s Steve Hyatt Negotiates $7.2 Million Sale Of Fort Lauderdale Development Site

Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller, RWL 8, LLC, in the sale of a 73,595-square-foot parcel located at 901 East Sunrise Boulevard in Fort Lauderdale.

The property is located directly on East Sunrise Boulevard near downtown Fort Lauderdale and the new Searstown mega project. The front portion of the parcel is currently occupied by Hertz Rent a Car while the rear portion is vacant land.

Buyer 220145 LLC, which was represented by Kimberly Barbar of Stiles Realty Co., paid $7,225,000 for the property and is planning a retail development on the parcel.

The deal closed May 31.

“This sale continues the trend of the purchase of land or buildings on Federal Highway and Sunrise Boulevard for redevelopment spreading north from downtown and The Flagler Village area,” commented Hyatt.

The transaction marks the second large land sale Hyatt has completed for the seller. The prior sale was in Flagler Village area for the Modera 555 assemblage.