Cushman & Wakefield Arranges Investment Sale Of Fort Lauderdale Office Center
Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar structured this transaction “off market.”
Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar structured this transaction “off market.”
Acquired at 55% replacement cost, the Broward Logistics Portfolio is currently 83% leased to nine tenants.
CBRE’s Robert Smith and Kirk Nelson represented the buyer, SL Acquisitions LLC, a Silverman Group Company, in the transaction and will handle leasing efforts under the new ownership.
The property was 100% occupied at the time of the sale.
Scheduled to open in August, the 10,000-square-foot space will serve as Postr’s operational and creative hub as the company continues to expand.
Senior Vice Presidents Steve Hyatt and Keith Graves, CCIM, SIOR represented the seller in the transaction.
With sales led by Key International and ONE Sotheby’s International Realty, the building is expected to commence construction within the next 12 months.
The portfolio totals nearly 300,000 square feet and is over 90% occupied.
The properties were sold by Frisbie Group-affiliated ownership, along with entities tied to ophthalmologist Dr. Stephen Sullivan and Marcia Sullivan.
Adam Marcuvitz, Joeseph Thomas, Ethan Krauss and Alec Demetriou of Marcus & Millichap exclusively marketed the property on behalf of the seller.
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