City of Lauderhill commissioners have taken the first step toward getting the project built by approving a special exception application which will allow for the development of residential units on the property.
The operator has occupied the property for 38 years and has 8+ years remaining on the lease with an annual 2% rent increase.
The intial offering will include 62 luxury condominiums with two- to four-bedroom units, starting at $3 million, and an exclusive mix of owner privileges.
The purchase price was $35.02 million, in excess of $375 per square foot of leasable space.
The national boating supply company created significant jobs and invested $800,000 of capital investments in the buildout of its 50,000 square foot space.
BOMA, the Building Owner’s and Manager’s Association of Ft. Lauderdale and the Palm Beaches, held its annual TOBY (The Outstanding Building of the Year) gala on Friday, November 11, to award top performers in building management and operations.
Here are the most popular news headlines this past week on CRE-sources.
Built in 1983, Doral Industrial sits on just over 4.5 acres.
Slated to open in the fall of 2023, the globally-influenced seafood restaurant will be located in Miami Beach’s SoFi neighborhood.
CBRE’s Robert Smith and Kirk Nelson will be leading the marketing efforts.