Berger Commercial Realty announced the purchase of a four-story office building on Fort Lauderdale’s 17th Street Causeway for $7.8 million.
Steve Hyatt, senior vice president of Berger Commercial Realty, represented the buyer 17 FLL Holdings, LLC, which is an affiliate of InSite Group. Paco Diaz and Gerard Yetming of CBRE Miami represented the seller, Intervest-910, LLC.
The sale closed Oct. 2.
InSite Group, a boutique real estate development company, intends to relocate its headquarters from Weston and occupy approximately 15,300 square-feet on two floors of the building, located at 910 S.E. 17th St. Approximately 7,056 square-feet of space on the ground floor of the 31,000-square-foot building is available for lease.
“The buyer was drawn to both the size and highly desirable location of this property,” Hyatt said.
InSite Group owns several properties on Fort Lauderdale beach in close proximity to the office building, including the Yankee Clipper hotel, which was acquired in 2014, branded as the B Ocean Resort, and is currently operating while undergoing a major renovation to be completed in 2016.
Over the past two years, Berger Commercial Realty has sold nearly $50 million worth of properties located on the 17th Street Causeway corridor, including the $9.2 million sale of a 36,000-square-foot office building to Resolve Marine Academy in May, and the $22.1 million sale of the former Ocean World marine park in March. That site is being developed into Broadstone Harbor Beach, a 394-unit luxury apartment building.
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