Cypress Creek Office Building Sells For $9.8 Million

OneBlood, a newly consolidated blood center, acquired a Fort Lauderdale office building for $9.8 million out of the receivership of an insurance company.  The transaction was recorded on July 27th.

The 75,000-square-foot building at 3000 W. Cypress Creek Road was last purchased for $5.15 million in 2006.

The nonprofit buyer was represented by Colliers South Florida chairman Michael T. Fay and Executive Vice President John K. Crotty. Two other Colliers officials, Executive VP Robert Listokin and senior commercial associate Sal Bonsignore, represented the seller, the Florida Department of Financial Services as receiver for Aequicap Insurance.

“We had to work through the state of Florida as a receiver for a bankrupt business,” Crotty stated in a news release. “The property had deed restrictions and a zoning issue conflicting with the buyer’s use, which had to be addressed and overcome.”

 

Source:  SFBJ