The buyer plans to develop the property into a 4-building self-storage facility, with plans already approved for a 150,000 square foot self-storage complex.
The transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, who represented the seller.
Claude Senhoreti, a professional race car driver and owner of Sienna Motors, the Buyer, plans to expand operations into this newly acquired site, enhancing their reputation for high-end automotive offerings. In addition to expanding their vehicle sales, Sienna Motors aims to redevelop the surrounding area into additional automotive uses, further revitalizing the neighborhood.
The 55,000-square-foot automotive retail property was formerly occupied by the MINI franchise, which relocated to the new Lauderdale BMW dealership located 7 blocks north.
The 11-story Class B office building is situated on 2.3 acres, with a strong history of high occupancy with long term tenants.
National Homebuilder D R Horton, Inc. paid $8,052,750 for a large undeveloped parcel at the former nursery and farmer’s market retail store location totaling 18.6 acres, equating to nearly $433,000 per acre.
Maus & Hoffman is relocating from the Las Olas Boulevard area due to expansion needs and the sale of its prior location.
The future mixed-use project will utilize the existing building.
The high-end residential construction company plans to convert the former vegan restaurant and dance studio to its corporate offices.
Michael Feuerman, Steve Hyatt and Daniel Silver of Berger Commercial Realty represented the seller. Mark M. Rubin and Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the buyer.