Davie Commercial Site With Development Potential Sells For $10M
Jaime Sturgis, CEO of Native Realty, just closed his third big investment sales transaction in the last three weeks. Sturgis represented the buyer of a 6.6-acre commercial site in Davie.
Summerwind Properties LLC of Fort Lauderdale acquired the 10450 W. State Road 84 site for $9.84 million. Digital Comm Link Inc. was the seller. The transaction closed on Aug. 2.
The site includes two existing industrial buildings totaling 14,605 square feet, leaving plenty of room for future office or industrial development. Its proximity to I-595, Fort Lauderdale International Airport and Port Everglades make the site highly desirable for commercial users.
On July 15, Sturgis represented Summerwind in the $17.5 million sale of a Fort Lauderdale industrial building. The Davie transaction satisfies the requirements for a 1031 exchange.
Five days after closing the Fort Lauderdale industrial sale, Sturgis represented both sides of the $10 million off-market sale of a Flagler Village office building. In that deal, Charlotte-based real estate investment company Asana Partners expanded its established presence in Flagler Village by acquiring the office building, an adjacent warehouse and surface parking lot.
“We are not letting supply constraints, rising interest rates or any broader market conditions stand in the way of making deals happen,” Sturgis said. “With this new transaction in Davie, we identified a perfect site for our client to reinvest the proceeds from last month’s disposition. We continue to see intense demand for well-located commercial real estate throughout Broward County.”
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