Fort Lauderdale Office Building Lands 125,000-SF Healthcare Lease
The healthcare company will occupy the entire building.
The healthcare company will occupy the entire building.
The asset totals 102,503 square feet on 6.19 acres and was built specifically as a headquarters and distribution facility.
The transactions include 47,851 square feet of new leases and 69,913 square feet of renewals.
The $38.2 million sale represents one of the largest commercial transactions ever in Delray Beach.
The suburban, campus style, professional and medical office complex totals 254,015 square feet.
The tenant, which manufactures and distributes professional salon apparel and accessories, occupies approximately 75% of a multi-tenant building in Flagler Station.
Two companies have committed to space within Fort Lauderdale’s pioneering mass timber office project, marking an important leasing milestone for the emerging mixed-use district.
The transaction was arranged by a Cushman & Wakefield team led by Roberto Pesant, Jose Mota and Wouter Lips, who represented both the seller and the buyer.
Easton & Associates Vice President Andrew Easton represented the landlords in all transactions.
The $32 million transaction closed quickly as an all-cash 1031 exchange acquisition, trading at a record price per unit for the submarket and a cap rate below 5 percent.
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