New Owner For Plantation Industrial Facility

Avison Young completed the $3.9 million sale of Plantation Technology Park Building II, a 37,911 office/industrial building located at 1850 NW 69th Avenue in Plantation.
To capitalize on pent-up demand for investments in Broward County, Avison Young’s David Duckworth, Vice President of Investment Sales, strategically listed the fully-occupied asset unpriced. After executing a comprehensive marketing plan, Duckworth sold the asset on behalf of Matecumbe Rand Plantation I, LLC.
 

“Investors continue to seek out well-positioned assets as office and industrial rates push upward in Broward submarkets and capital values strengthen. The flurry of activity in the first three quarters of 2015 has caused investment sales in Broward to surpass the sales total of 2014,” said Duckworth. “With no new office construction in Plantation and vacancy tightening, this investment opportunity was highly sought after due to its long-term anchor tenant in the field of Biotechnology and historically high occupancy numbers.”

Duckworth has been a part of over $500 million in transactions, and this latest is emblematic of the successful pipeline and expertise. Just weeks prior the close of Plantation Technology Park Building II, Duckworth also closed the sale of Bank of America Center, a 50,000-square-foot class A multi-tenant office building in Coral Springs. Additionally, the Plantation Technology Park Building II transaction marks the second successful asset disposition Duckworth has completed on behalf of this seller in the past 18 months.
Plantation Technology Park was established in 1948 as the first industrial park in Broward County. The Park is comprised of approximately 160 acres located in the northeastern section of the City of Plantation. The area is home to Motorola Mobility Inc.’s 1 million-square-foot headquarters facility.
 

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