This sale continues to showcase the strong demand for multifamily properties in the Fort Lauderdale area, particularly those with long-term tenants, which this property features.
The sale was conducted as an all-cash transaction, underscoring the strong demand for real estate in this vibrant market.
In addition to leasing and marketing the project on behalf of the landlord, Berger Commercial Realty facilitated the sale of the land to Bridge Industrial for development in 2019.
In a market where CoStar data signals a current 15.6% vacancy rate, Berger Commercial Realty brokers Brian Batchelder’s and Joseph P. Byrnes’ success stands out as a testament to their strategic leasing efforts and market knowledge.
The retail property, located at 1815 Cordova Road in Fort Lauderdale, totals 230,000 square feet.
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.
The buyer intends to renovate and lease the property.
A new lease deal for 98,012 square feet brought the 677,318-square-foot logistics park to full occupancy.
A full-service personal injury, product liability, and consumer advocate law firm, purchased the building.
Beck and Byrnes represented the seller, Benson Properties Inc., in the transaction. No outside brokers were involved in the deal.