Merrimac Ventures Expands Flagler Village Footprint With Retail, Office Assemblage Assemblage

South Florida-based real estate investment and development firm Merrimac Ventures has completed the acquisition of a strategic retail and office assemblage in Fort Lauderdale’s Flagler Village. This acquisition further strengthens the firm’s footprint in a district that has emerged as one of the most dynamic and rapidly evolving neighborhoods in South Florida.

Located just north of downtown Fort Lauderdale, Flagler Village is experiencing a wave of unprecedented investment, positioning it as one of the city’s most active development corridors. The neighborhood’s appeal is driven by several high-profile catalysts, including Hines’ FAT Village, a major mixed-use destination just one block from the assemblage that will introduce a dynamic blend of uses anchored by T3 FAT Village, a Class A timber office building setting a new standard for creative workplace environments. The area also benefits from immediate proximity to the Fort Lauderdale Brightline station, providing seamless high-speed connectivity to Miami, West Palm Beach, and Orlando, while planned public infrastructure improvements, including a signature park and the development of a new City Hall, are expected to further enhance walkability and civic appeal.

“This assemblage represents a strategic step in our continued investment in Flagler Village, a neighborhood that is experiencing tremendous growth and transformation,” said Dev Motwani, Co-Managing Partner of Merrimac Ventures. “By securing well-located properties along North Andrews Avenue, we are creating a meaningful position that allows us to thoughtfully plan for the future while activating the site in the near term.”

The newly acquired assemblage spans multiple properties along North Andrews Avenue, 400, 416, 424, and 412-414 N. Andrews Avenue, totaling more than 20,000 square feet of existing commercial space. The portfolio is anchored by 400 N Andrews Avenue, a three-story, 16,200-square-foot building acquired for $5.75 million, formerly home to the Dan Marino Foundation campus and featuring a ground-floor courtyard and 26 parking spaces.

The assemblage also includes 412-414 N Andrews Avenue, a 4,000-square-foot retail property acquired for $1.6 million and designed for commercial use. Demonstrating strong early demand, Merrimac Ventures has already secured a 10,000-square-foot lease at 400 N Andrews Avenue with a prominent private school, drawn to the location’s accessibility and the neighborhood’s continued growth. Native Realty is overseeing leasing for the remaining space.

Merrimac Ventures’ corporate headquarters is located adjacent to the newly acquired properties, reinforcing the firm’s hands-on presence and long-term commitment to Flagler Village. As one of the neighborhood’s most active developers, the firm continues to advance a robust pipeline that includes ArtsPark Lofts, a 301-unit opportunity zone development currently in planning across from the assemblage; a planned partnership to deliver two residential towers totaling approximately 775 units; and Truhome 2 Suites, an existing multifamily development owned and developed by Merrimac Ventures in the area.