non-advertiser
The new South Florida office will support STRO’s rapidly growing Florida portfolio, which now includes 10 industrial buildings totaling approximately 1 million square feet.
Pricing expectations exceed $200 million.
RFR acquired the tower and an adjacent parking garage in 2022 for $81.1 million.
The asset, which consists entirely of two-bedroom/two-bathroom units that average 916 square feet, traded for $23 million, or $198,276 per unit.
The Colliers South Florida office leasing team, led by Senior Vice President Darcie Lunsford, has been chosen to handle leasing and marketing of the 137,000-square-foot, all-glass midrise.
The center was 92% occupied at the time of sale.
The property includes a one-story strip shopping center, a two-story office building and two out-parcel buildings totaling 55,000 square feet.
Three tenants have signed on for a combined 20,000 square feet.
This is the first time the property has been offered for sale since it was built in 1974.
The property has benefited from more than 165,000 square feet of leasing activity over the past two years.
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