The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset.
The complex is 90 percent leased to 40 tenants from a variety of industries including healthcare, law, finance and engineering.
The 304,408-square-foot portfolio was 64 percent leased at the time of sale.
CBRE’s Christian Lee, Chris Riley, José Lobón, Amy Julian, and Royce Rose represented Butters in the transaction.
The 240,669-square-foot building was 95% leased at the time of the sale.
The property consists of a 9-story office tower, a 2-story medical office building and a development pad.
The 24%-leased newly constructed warehouse was sold to TA Realty.
The 479,145-square-foot asset consists of nine buildings, including one Class A 10-story building, three low-rise buildings and five single-story buildings. CLICK ON THE HEADLINE FOR MORE
The seller yielded $14 million after carrying the asset for only two years. CLICK ON THE HEADLINE FOR MORE
Cornerstone joined forces with Crocker Partners to acquire Esperanté in December 2013 for $71 million. CLICK ON THE HEADLINE FOR MORE