Plantation Office Building Fetches $18.5 Million

Avison Young’s Florida Capital Markets Group completed the $18.5 million sale of Southpointe, a 79,719-square-foot, class A office building at 7901 SW 6th Court in Plantation, one of Broward County’s most highly sought-after suburban office submarkets.

On behalf of the seller, Avison Young Principals David Duckworth; John K. Crotty, CCIM; Michael T. Fay; Greg Martin; and Senior Associate Brian de la Fé; facilitated the disposition to The Green Companies.

Southpointe is a four-story, award-winning office building featuring high-end finishes, impact glass, abundant parking, and an efficient design. The property’s close proximity to Interstate 595, great amenities, and high-end residential neighborhoods provides the essential elements for a successful class A office property.

“The sale of Southpointe at $232 per square foot is a reflection of investor confidence in the western Broward County office market,” said Duckworth. “Location and building quality were important factors in this sale. The Green Companies’ purchase was a great strategic move to increase their footprint in Plantation’s robust office submarket.”

Vacancy in Plantation remains one of the lowest in the Broward office market at 5.57 percent, for class A space, according to research by Avison Young. With year-over-year declines in the vacancy rate, strong positive net absorption, limited new construction, and the third highest rental rates in Fort Lauderdale’s metro, Plantation’s suburban submarket continues to generate strong demand in class A office space.