Cushman & Wakefield has arranged the sale of Miramar Tech Center, a 56,710-square-foot Class A office building located in Miramar. The final sale price was $22.6 million. Scott O’Donnell, Mike Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the seller, 2995 Monarch Lakes LLC, in the transaction. Miramar Tech Holdings acquired the property. Jason Hochman, also of Cushman & Wakefield, secured $13.56 million in acquisition financing for the buyer.
Miramar Tech Center is currently 100% leased with new long-term leases in place. The new, three-story building features floor-to-ceiling hurricane impact windows designed to withstand Category 4 hurricanes, a full-building back-up generator, dual HVAC systems, three independent fiber optic runs and connection to two separate power grids for power redundancy. The property also includes a five-floor structure parking garage, resulting in a market-leading parking ratio of 5.3/1,000 square feet. Located at 2900 Monarch Lakes Boulevard, the property sits in the center of major suburban housing regions, allowing companies to attract employees from 5.3 million residents within a 60-minute drive time.
“Miramar Tech Center provided the rare opportunity to acquire a new, Class A office property in Southern Broward County,” O’Donnell said. “The property’s best-in-class features and exceptional location straddling Broward and Miami-Dade County borders attracted a strong tenant roster seeking access to an educated, heavily bi-lingual workforce and serves as the national headquarters for United Data Technologies, Inc. (UDT).”
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