CBRE Secures $53.5 Million Refinancing For Plantation Office Campus

CBRE Capital Markets’ Debt & Structured Finance group has successfully secured a $53.5 million loan for the refinancing of Crossroads I, II and IV, a 289,582-square-foot office campus comprising three four-story buildings in Plantation.

CBRE’s Amy Julian and Andrew Chilgren represented the borrower, a joint venture between C-III Capital Partners and Vanderbilt Office Properties.

Located in the heart of the Midtown Plantation Development District, the property is positioned within one of South Florida’s strongest suburban office markets. Plantation reports a 9.3% office vacancy rate, the lowest in Broward County, and the market has absorbed more than 200,000 square feet of space since 2021. The district is undergoing transformative growth with 4,300 new multifamily units, major mixed-use developments such as Plantation Walk and Plantation Midtown Square, and more than 350,000 square feet of new retail and 265 hotel rooms.

“Plantation is one of the most desirable office submarkets in South Florida,” said Julian, Senior Vice President with CBRE. “The combination of walkable retail, newly constructed multifamily units and superior access have led to dramatic improvements in market fundamentals which have translated to exceptional success at Crossroads I, II and IV.”

Crossroads I, II and IV are 85% leased to a diverse roster of 20 tenants. The property has benefited from more than 165,000 square feet of leasing activity over the past two years.