Cushman & Wakefield Arranges $26M Sale Of Fort Lauderdale Office Campus
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi and Miguel Alcivar of Cushman & Wakefield represented the seller in the transaction.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi and Miguel Alcivar of Cushman & Wakefield represented the seller in the transaction.
A private investor purchased the Class B property for more than $230 per square foot.
Seventy percent of funds will be allocated to industrial properties in Florida, the Carolinas, Tennessee and Georgia, and the remainder will be divided equally between Florida office and medical office buildings.
The JV will expand their portfolio with the development of five Class A medical office buildings in Florida.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
The 64-month renewal comprises two full floors, keeping the 4-story building 98 percent occupied.
Built between 2000 and 2006, the buildings, which total 373,228 square feet, are 79% leased.
The company will move its headquarters from Sunrise to Davie.
Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
An engineering services company will occupy the space, relocating from its offices at 910 SE 17th St. in Fort Lauderdale.
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