Vision Real Estate Advisors Facilitates Sale Of 65,000-SF Village Plaza In Fort Lauderdale MSA
This was the first time the property was on the market for sale since the seller, Tricon Development, purchased the property over 30 years ago.
This was the first time the property was on the market for sale since the seller, Tricon Development, purchased the property over 30 years ago.
The property, which was 92% occupied at the time of sale, had been under the same private ownership for the past 20 years.
The two properties sold for more than $400 and $800 per square foot.
The forward-thinking commercial real estate firm specializes in the sales and leasing of retail, office, and industrial properties across Florida.
The 17,228-square-foot property sold for $8,025,000.
The 52,500-square-foot property sale was facilitated by the ROI Group of SVN Commercial Partners’ Adam H. Klein and Elon Gerberg represented both parties.
Adam H. Klein and Elon Gerberg facilitated the transaction for both seller and buyer.
As Fort Lauderdale faces a scarcity of available commercial investment properties, savvy investors are redirecting their focus towards well-located assets in surrounding submarkets, particularly Oakland Park.
The industrial flex warehouse located along NE 189th Street in the high barrier-to-entry market of Aventura (Miami MSA) offered both stable income with additional upside, given the size and liberal zoning of the parcels as well as the prime location and strong opportunity for redevelopment.
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
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