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The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset.
Gordon Messinger, Executive Vice President with CBRE, represented the landlord and developer in the transaction.
The asset is one of the largest remaining mixed-use development sites in the Edgewater District.
An industrial real estate veteran with 30 years of experience was tapped to lead the new venture.
The Kavista will feature 282 rental units on a two-acre site at 495 NE 83rd St.
Transwestern’s Carlos Gaviria, Walter Byrd, Ben Eisenberg and Thomas Kresse represented the tenant in the transaction.
Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.
The company has been a tenant at 801 Brickell since 1986.
Class A office rental rates are exceeding $75 gross in Coconut Grove.
The ultramodern Chamberlain University campus in Miramar will include over 56,000 square feet of space to house lecture-style classrooms, science labs, and simulation care centers, along with an admissions center, faculty offices, and student amenities, such as study areas and lounges.
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