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Construction of the high-end and modern FIRST Apartments project started in March 2020 and was successfully completed in fall 2021.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman, and Ron Granite of Cushman & Wakefield represented the seller in the transaction.
The property is comprised of 30 duplex buildings on six adjoining parcels totaling 9.61-acres of land.
At the time of sale, The Shops at Village Square was fully occupied by 15 retail, office, and service tenants.
The new mixed-use apartment community named Alhambra Parc will feature 33-units and retail on the ground floor.
The 71,307 square foot property features prominent frontage on South Federal Highway in the heart of Fort Lauderdale.
Year-over-year, the Miami industrial market experienced a 53 percent jump in rent.
The mega complex features a 316-key Hilton Miami Bayfront Hotel with endless amenity and entertainment areas, 163 Sky Residences with exclusive owners-only amenities, 236 Short-Term Rental Residences powered by Hilton Hotels & Resorts, and 64,000 square feet of ‘Class A’ office space.
Senior Managing Director Sal Bonsignore and Executive Managing Director Rod Loschiavo of Colliers South Florida, represented the seller in the transaction with First Industrial Realty Trust.
The new leases total nearly 14,000 square feet.
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