Native Realty Closes Three New Investment Sales Transactions

Native Realty, the Fort Lauderdale-based real estate firm led by Jaime Sturgis, closed three investment sales transactions in downtown West Palm Beach and Fort Lauderdale. Sturgis brokered all three deals, which have a combined sale price of $8.6 million.

In downtown West Palm Beach, Sturgis brokered the $5.6 million acquisition of two commercial buildings totaling 11,671 square feet on behalf of buyer RCGT Member 2661 LLC. One of the properties, located at 303 Gardenia St., is home to a two-story mixed-use building with office, retail and residential space. The second property, located at 501 S. Olive Ave., has a boutique retail building.

Gardenia & Olive LLC is the seller of the buildings. The site’s zoning accommodates future development of up to 10 stories.

In Fort Lauderdale’s Studio City, an emerging neighborhood that Native is playing a leading role in placemaking, Sturgis represented the buyer and seller of a creative office building. The 3,340-square-foot building at 1400 NE Fourth Ave. was sold for $1.6 million.

Sturgis also successfully listed a 10,762-square-foot retail building with waterfront views at 2000 E. Sunrise Blvd. in Fort Lauderdale. The building changed hands for $1.4 million. The buyer is 2000 Sunrise LLC, which purchased the property from a revocable trust that designates Sylvia Korotkin and Lillian Horowitz as trustees.

“As market conditions begin to loosen, we are in high demand from both buyers and sellers of South Florida commercial real estate,” Sturgis said. “There continues to be significant interest in well-located commercial buildings, and Native has numerous additional investment sales transactions in the works across the region both on and off-market.”