Blanca Commercial Real Estate announced the sale of a Fort Lauderdale site to AutoNation.
The property sold for $11.8 million.
Cary Cohen, Executive Vice President, and Christina Stine Jolley, Vice President & Dir. Of Business Development of Blanca Commercial Real Estate, represented the seller, We Florida Financial.
“Given the current real estate market in South Florida, this offering presented the rare opportunity to acquire a site with a prime location,” said Cary Cohen. “Even with interest rates rising, we received several bids on the site and continue to experience tremendous activity,” he adds.
The 71,307 square foot property features prominent frontage on South Federal Highway in the heart of Fort Lauderdale. The property is located at 1300 S. Federal Highway plus 617 and 705 SE 14th St with maximum exposure to passing traffic. The property offers a close proximity to La Olas Boulevard, some of Florida’s most beautiful beaches, Fort Lauderdale International Airport, Port Everglades, and is at the core of the city’s residential communities..
AutoNation is one of the largest suto dealers in the nation with $25.8 billion in revenue in 2021. Its sales have been growing in recent years and automobile prices have been climbing.
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