9-Acre Land Site Fetches $10 Million
Avison Young Principal Keith O’Donnell and Colliers Executive Managing Director Mark Rubin coordinated the off-market transaction.
Avison Young Principal Keith O’Donnell and Colliers Executive Managing Director Mark Rubin coordinated the off-market transaction.
LUMA at Miramar was built in 2019 and stabilized in Q1 2020, with occupancy remaining at or above 90 percent throughout 2020 and 2021. The property was fully occupied at the time of sale.
The project’s sponsors consist of a seasoned development team that has been active in South Florida for decades.
The 100% occupied, 33,557-square-foot portfolio traded for $239,535 per unit.
The assemblage occupies an entire city block in Fort Lauderdale’s hip Flagler Village neighborhood, located just two blocks north of Las Olas Boulevard in Downtown Fort Lauderdale.
The deals bring the 25-story, 387,402-square-foot “Class A” office community to over 50% leased following its November 2020 delivery.
Berger Commercial Realty Senior Vice President Joseph P. Byrnes and Senior Sales Associate John Forman represented the seller in the $8 million sale.
The property is currently 100% occupied with an average rent of $1,890 per month.
The new Main Las Olas location marks the internationally-renowned steakhouse’s fifth location in the state of Florida.
The transactions total $13.78 million.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.
