Cresa Closes Three New Lease Transactions Totaling 157,000 Square Feet
Pompano Beach, and Broward County as a whole, is seeing unmatched commercial and industrial real estate demand.
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Pompano Beach, and Broward County as a whole, is seeing unmatched commercial and industrial real estate demand.
Bidding deposits and qualifications must be submitted to the court-appointed receiver, Michael Goldberg, no later than 5 p.m. on Friday, May 20, 2022.
According to CBRE Research, strong leasing was sustained in the first quarter with more than 630,000 square feet in office transactions executed in Broward County.
The mall was 80 percent leased at the time of sale to more than 100 tenants.
The portfolio consists of seven multi-tenant office buildings totaling 308,305 square feet.
Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets worked on behalf of the borrower, a private investor, to arrange a seven-year, fixed-rate loan from Bank United.
The logistics center totals approximately 124,000 square feet.
The seller achieved 25% asset appreciation in 14 months with a strategic value-add plan.
1801 Building is now 97% occupied following the latest transactions; Infinity Sales Group moves into the company’s Park at Broken Sound building.
New ownership plans to spend north of $10 million in capital improvements to the property throughout 2022, including renovations to the lobby areas, corridors, and restrooms of Tower I, II and III. Additionally, they will be enhancing tenant amenities with a conference center, lounge, and state-of-the-art gym.
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