The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset.
The first phase of Seagis @ Port 95 spans three industrial buildings, totaling 142,000 square feet.
Gordon Messinger, Executive Vice President with CBRE, represented the landlord and developer in the transaction.
The asset is one of the largest remaining mixed-use development sites in the Edgewater District.
An industrial real estate veteran with 30 years of experience was tapped to lead the new venture.
The Kavista will feature 282 rental units on a two-acre site at 495 NE 83rd St.
Team Leader Steven Paulsen, Senior Advisor John Andrews and Junior Advisor Mason Highman, represented both the buyer and seller in the sale and purchase.
Here are the most popular news headlines this past week on CRE-sources.
Transwestern’s Carlos Gaviria, Walter Byrd, Ben Eisenberg and Thomas Kresse represented the tenant in the transaction.
Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.