Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Fort Lauderdale Mixed-Use Property
The future mixed-use project will utilize the existing building.
The future mixed-use project will utilize the existing building.
The property was listed at $4,950,000 and within days, multiple full price offers were received – some over list price. The property closed within 0.5% of list price and a sub 5% capitalization rate.
The fully-occupied retail plaza features 138 feet of frontage along North State Rd 7 (US Highway 441), benefiting from a daily traffic count of over 52,000 vehicles.
Tricera and Merrimac closed the acquisition of the ±16,500 square feet of retail and restaurant space in August 2020
Senior Vice President Kimberly Barbar is handling the leasing.
The 80,361-square-foot property includes two freestanding outparcel buildings.
Tricera acquired the buildings for $13.25 million in January 2019.
The company is aggressively seeking prospective Pink Bird sites on Florida’s east coast, from Broward to Brevard counties, with minimum dimensions of 150 x 200 feet, in high traffic locations with left-in access and strong retail co-tenancy.
Dennis Carson with CBRE represented both the buyer and seller in the transaction.
His media company relocated to South Florida in early 2021 and the company is expected to base its new headquarters in one of the buildings.
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