National Homebuilder D R Horton, Inc. paid $8,052,750 for a large undeveloped parcel at the former nursery and farmer’s market retail store location totaling 18.6 acres, equating to nearly $433,000 per acre.
The retail property, located at 1815 Cordova Road in Fort Lauderdale, totals 230,000 square feet.
The company began as a property management firm and remained solely focused on property management for the first years. Now, as one of the largest independently owned and operated commercial real estate brokerage and property management firms in South Florida, the company has grown to 45 employees with two offices in two counties, currently averaging approximately 300 brokerage transactions each year for a total volume of roughly $400 million.
Beck joined Berger Commercial Realty in 2019 as a sales associate and, in 3 short years, quickly climbed the ladder earning him the title of Vice President.
The free-standing warehouse is currently occupied by Nefco, an industrial equipment supplier.
Hyatt, along with George Moraitis, represented Lighthouse of Broward, the preeminent nonprofit in Broward County serving the blind and visually impaired, in the pro bono transaction.
Maus & Hoffman is relocating from the Las Olas Boulevard area due to expansion needs and the sale of its prior location.
“The stabilized multi-tenant retail/office property with a national retailer occupying majority of building provided a perfect investment opportunity for the buyer.”
Yishai Sinai, Managing Broker with Biscayne Advisors, represented the buyer in the transaction. Berger Commercial Realty’s Brian Batchelder and Joseph P. Byrnes represented the seller.
Senior Vice President Keith Graves, CCIM and Vice President Jonathan Thiel will serve as the exclusive leasing agents.