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.
The sale price equates to $136,750 price per unit; $200 per square foot; and a 4.8% capitalization rate.
The boutique firm was founded in 2016.
The properties comprise 656 units.
HGI purchased the property in 2017 for $158.5 million and upon acquisition invested an additional $2.65 million in interior maintenance and upgrades.