13th Floor Investments Buys One Of The Last Large-Scale Urban Development Sites In Broward County
The site is zoned for a variety of uses, including but not limited to, residential, office, retail and seniors housing.
The site is zoned for a variety of uses, including but not limited to, residential, office, retail and seniors housing.
As South Florida’s markets continue to strengthen from the migration of out-of-state developers, Colliers facilitated the off-market sale of the Himmarshee development site in Downtown Fort Lauderdale. Colliers’ Director Bradley Arendt and Executive Managing Director Mika Mattingly represented both the buyer, Heights Advisors, and the seller, 111 Property Group, in the transaction. “This was a […]
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.
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