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Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

May 1, 2022/in Done Deals, News/by SFOBA STAFF

The 1972-built boutique office building is situated on .37 acres of land.

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

April 25, 2022/in News/by SFOBA STAFF

New ownership plans to spend north of $10 million in capital improvements to the property throughout 2022, including renovations to the lobby areas, corridors, and restrooms of Tower I, II and III. Additionally, they will be enhancing tenant amenities with a conference center, lounge, and state-of-the-art gym.

Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

May 1, 2022/in Done Deals, News/by SFOBA STAFF

The 1972-built boutique office building is situated on .37 acres of land.

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

April 25, 2022/in News/by SFOBA STAFF

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Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

May 1, 2022/in Done Deals, News/by SFOBA STAFF

Berger Commercial Realty/Corfac International Vice President Brian Batchelder represented the seller in the purchase of a 5,204-square-foot office building located at 2100 South Andrews Avenue in Fort Lauderdale.

RFH 2100, LLC sold the 1972-built boutique office building, which is situated on .37 acres of land, for $2,500,000. Ron Osborne, Managing Director of Sperry Commercial Global Affiliates | RJ Realty represented the buyer, Consolidated Properties of Andrews Avenue, LLC, in the transaction.

The deal closed April 18.

Batchelder

“The downtown Fort Lauderdale office inventory is extremely low driving valuations at an all-time high,” commented Batchelder. “My client was able to take full advantage of the market climate and was able to ascertain their desirous price.”

2100 S. Andrews Ave. is a free-standing office building consisting with 21 parking spaces. It is situated on the SE corner of Andrews Ave and SE 21 St. It is Ideally located within minutes from the courthouses, Broward General Hospital, Port Everglades and Fort Lauderdale-Hollywood International Airport. The building features signage capabilities with high curbside visibility facing Andrews Avenue.

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

April 25, 2022/in News/by SFOBA STAFF

CBRE announced that John Criddle and Joe Freitas have been awarded the exclusive listing assignment for The Offices at Boca Center, a three-building office complex totaling 368,046 square feet in Boca Raton, by Vanderbilt Office Properties and Macquarie Capital Principal Finance, who recently purchased the property.

CBRE is marketing spaces ranging from 2,500 square feet to 29,200 square feet for lease, including newly built Class A spec suites being delivered Q4 2022.

The Offices at Boca Center is home to diverse tenants from the banking/finance, real estate, and law industries, including Ameriprise Financial, Berkadia, Deloitte, EY, First Republic Bank, Sun Capital Partners Inc., and Waste Management.

The property is part of the greater Boca Center mixed-use project, which includes a 256-room Marriott hotel and 117,106-square-feet of upscale retail at The Shops at Boca Center with 13 open or soon-to-be open restaurants, including Tap 42, Rocco’s Tacos, Copperfish Kitchen, Narbona and Sixty Vines.

“Unrivaled access, amenities and walkability are top reasons why tenants choose Boca Center. The property is located at the epicenter of Boca Raton’s highest concentration of dining and retail amenities with over 50 restaurants, 100 retailers, and 762 hotel rooms within a one-mile radius,” said CBRE First Vice President Joe Freitas.

Centrally located between the Palm Beach and Fort Lauderdale International Airports, the property has excellent access to the Boca Raton Executive Airport, nearby hospital systems, Lynn University, and Florida Atlantic University via Interstate 95, the Florida Turnpike, and Glades Road. It is also located one half-mile away from The Town Center at Boca Raton, one of the nation’s highest volume, luxury-oriented, fortress super regional malls.

“In recent years, Palm Beach County has been the primary benefactor of tenant relocations in South Florida because of the top tier executive communities and favorable demographics. Vanderbilt Office Properties will be able to capitalize on the market’s exceptional momentum as leasing activity in Boca Raton continues to increase while the supply of quality office space continues to shrink,” added CBRE Executive Vice President John Criddle.

According to CBRE Research, Palm Beach County recorded more than 120,000 square feet of positive absorption in the first quarter of 2022. Total vacancy in the county dropped to 14.6 percent this quarter in line with pre-COVID (Q1 2020) levels.

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Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

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Downtown Fort Lauderdale Boutique Office Building Trades For $480 PSF

Vanderbilt Office Properties Purchases The Offices At Boca Center, Awards Listing Assignment To CBRE

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