Just Closed: $17.5M Off-Market Fort Lauderdale Industrial Sale
Native Realty’s Jaime Sturgis represented both sides of the $17.5 million sale.
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Native Realty’s Jaime Sturgis represented both sides of the $17.5 million sale.
The project will provide 320K SF of Class-A office space and 80K SF of functional outdoor space. It will stretch over a 2-acre block between Northeast 42nd and 43rd streets and between Northeast Second and Fourth avenues.
Future renovations planned include further upgrades to the building lobbies, additional building amenities, a new state-of-the-art conference facility, and continued upgrades to the common areas and restrooms.
JLL Capital Markets closed the sale and secured the equity for the 793-unit Modera Academical Village.
Gordon Messinger, an Executive Vice President with CBRE, will lead the marketing efforts.
The building totals more than 180,000 square feet.
The JLL brokerage team of Managing Directors Steven Hurwitz and Doug Okun and associate Madeline Fine are spearheading the office leasing at the property.
In addition to bringing on the trio, Cushman & Wakefield has welcomed several new hires over the past few months.
The 6.7-acre improved land parcel is adjacent to the intersection of the Palmetto Expressway and West Okeechobee Road.
The luxury yachting company will occupy the 175,510-square-foot building’s entire 11th floor penthouse accommodating nearly 60 employees.
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