The property is located in downtown Fort Lauderdale, just south of the New River. Zoning is high density RAC-CC which allows for office and multifamily development.
The 1972-built boutique office building is situated on .37 acres of land.
The future mixed-use project will utilize the existing building.
Berger Commercial Realty/Corfac International Managing Director-Palm Beach County Michael Feuerman, Esq., SIOR, CCIM and Sales Associate Daniel Silver, along with Matt Sultenfuss, SIOR, Managing Partner at Tampa-based Avocat Group, negotiated the deal on behalf of the tenant.
The first phase of Seagis @ Port 95 spans three industrial buildings, totaling 142,000 square feet.
“The Buyer plans to make capital improvements to the property,” explained Thiel. “These small bay warehouses/apartment properties are rare and great investments to have in today’s market.”
Genet Property Group purchased the small bay warehouse.
A full-service personal injury, product liability, and consumer advocate law firm, purchased the building.
Due to the efforts of Berger Commercial Realty’s leasing team, more than 28,000 square feet of new lease deals and renewals have recently been executed, bringing this prime industrial center to reach 100% occupancy.
CBRE’s Mike Oretsky, Tom O’Loughlin, and Larry Genet and Berger Commercial’s Jonathan Thiel and Keith Graves represented the tenants in the lease deals.