The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset.
The seller walked away with a $56 million, or 34 percent, gain. CLICK ON THE HEADLINE FOR MORE
This transaction is the largest office building to trade in Broward County’s Downtown submarket in the past 12 months. CLICK ON THE HEADLINE FOR MORE
The five leases bring the property to 84% occupancy. CLICK ON THE HEADLINE FOR MORE
The purchase price is nearly double the price the Steelbridge team paid for the asset in December 2012. CLICK ON THE HEADLINE FOR MORE
JLL’s Sandra Andersen and Chase Kulp will lead an aggressive leasing effort. CLICK ON THE HEADLINE FOR MORE
The new ownership plans to commence an extensive repositioning of the asset and will immediately implement an aggressive capital improvement and leasing plan that will once again return it to its Class A+ status. CLICK ON THE HEADLINE FOR MORE
The site was marketed on behalf of Northern Trust and the Brickell family trust. CLICK ON THE HEADLINE FOR MORE
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