PEBB Enterprises Closes Office Property Sale In Fort Lauderdale’s Cypress Creek
Scott O’Donnell of Cushman & Wakefield represented PEBB in the sale.
Scott O’Donnell of Cushman & Wakefield represented PEBB in the sale.
The project encompasses over 405,000 square feet of existing office space across two buildings, two ground-up retail and restaurant outparcel buildings totaling approximately 21,500 square feet, a nearly 37,000-square-foot Equinox gym and 500 multifamily units.
The transactions included numerous new leases and a sale transaction.
Leading real estate developer Related Group is developing the residential project in partnership with BH and PEBB.
Joe Freitas and John Criddle of CBRE are handling office leasing at The Eclipse on behalf of the development partnership. The law firm was represented by Greg Katz, Carlyle Coffin and Shay Pope of Stream Realty Partners.
He brings over 25 years of experience in commercial real estate, private equity, and platform operations to his new role.
The JV completed the 71,000-square-foot retail project in 2024 and generated substantial leasing activity before the sale.
Alan Lipsky and Barry Wolfe of Marcus & Millichap represented PEBB and Banyan in the transactions.
The $14 million sale was an off-market deal.
Located at 3600-3998 FAU Blvd., the Research Park includes a total of 308,305 square feet of office space. It is the only state university-affiliated research park in South Florida and considered a premier technology business incubator for the region.
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