NAIOP South Florida Celebrates 2025 Awards Of Excellence Winners
South Florida commercial real estate’s top talent and transformative projects honored during signature event. Manny De Zarraga received the Lifetime Achievement Award.
South Florida commercial real estate’s top talent and transformative projects honored during signature event. Manny De Zarraga received the Lifetime Achievement Award.
The two building portfolio totals ±47,350 square feet.
The final sale price doubled the initial stalking horse bid, resulting in a significant victory on behalf of the victims.
The mixed-use property features a 20,150-square-foot class A office building with an attached 18,048-square-foot private hangar that can accommodate up to four planes, a luxury 2-bedroom/2-bathroom apartment overlooking the runway, and a prime development opportunity for fee simple-owned land zoned for additional airplane hangars or industrial development.
Summit Realty acquired the vacant land for $20 million in 2023.
Avison Young’s Brian C. de la Fé led a team that represented Boca Raton-based seller 2020 Properties in the disposition to buyer Twenty Lake.
The leases total 14,201 square feet, or approximately 10% of the total rentable space.
The 64-month renewal comprises two full floors, keeping the 4-story building 98 percent occupied.
The $353-per-square-foot transaction far surpassed the current $225-per-square-foot market average for office investment sales.
Donna Abood, Joe Abood, and Peyton Dowd of Avison Young represented FECR in the transaction.
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