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CBRE Arranges Sale Of Ft. Lauderdale Office Building

March 6, 2022/in Done Deals, News/by SFOBA STAFF

Benjamin Silver with CBRE represented the seller, 5100 Realty LLC, in the transaction.

Office, Retail Complex In Boca Raton Sells For $12.65 Million

February 28, 2022/in Done Deals, News/by SFOBA STAFF

Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the seller in the transaction. CLICK ON THE HEADLINE FOR MORE

CBRE Arranges Sale Of Ft. Lauderdale Office Building

March 6, 2022/in Done Deals, News/by SFOBA STAFF

Benjamin Silver with CBRE represented the seller, 5100 Realty LLC, in the transaction.

Office, Retail Complex In Boca Raton Sells For $12.65 Million

February 28, 2022/in Done Deals, News/by SFOBA STAFF

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CBRE Arranges Sale Of Ft. Lauderdale Office Building

March 6, 2022/in Done Deals, News/by SFOBA STAFF

CBRE has facilitated the sale of a 42,442-square-foot office building at 5100 N. Federal Hwy. in Fort Lauderdale to Hall Consolidated Group LLC for $7 million.

Benjamin Silver with CBRE represented the seller, 5100 Realty LLC, in the transaction.

Originally built in 1972, the four-story building received several major capital improvements in 2021, including a new roof, exterior waterproofing, lobby upgrades and several air conditioning units have been replaced.

The property is located just north of the area’s largest medical provider, Holy Cross Hospital, a 557-bed facility. It provides nearby access to Interstates 95, 441 and Florida Turnpike from East Commercial Boulevard.

“We were able to procure an owner-user and secure a premium price for the seller due to the large contiguous availability of square footage and the property’s excellent visibility with branding ability and signage. While the medical user plans to occupy most of the space, the proximity to Holy Cross Health’s Fort Lauderdale campus should provide significant tenancy demand,” said Silver, a senior vice president with CBRE.

Office, Retail Complex In Boca Raton Sells For $12.65 Million

February 28, 2022/in Done Deals, News/by SFOBA STAFF

A California buyer, Brickstar Capital, has closed on the acquisition of Spanish River Plaza, located at 500 NE Spanish River Boulevard in Boca Raton.

Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the seller, Chart Organization, a real estate investment and management company based in Lynbrook, NY, in the transaction totaling $12.65 million.

“The South Florida investment market continues to achieve record pricing as opportunities to acquire solid performing properties in highly desirable locations become more limited,” said Rubin. “Investor demand remains strong and is fueled by the rising rental rates and continued low financing which captivates interest from investor groups from all over the country.”

The 56,034-square-foot office and retail complex is situated on nearly 4.5 acres directly at the intersection of South Federal Highway and Northeast Spanish River Boulevard and one block away from North Dixie Highway. The complex benefits from the newly enhanced Spanish River interchange and the potential for additional development in the future.

“The buyer has experience acquiring similar mixed-use assets and has a creative repositioning strategy planned for the complex that will appeal to the affluent demographics in Boca Raton,” said Laggerbauer.

South Florida’s growing population and accelerated pandemic recovery continue to push rental rates and capture the attention of investors. Mixed-use investors are particularly attracted to Boca Raton’s affluent population, having an average household income of nearly $124,000. This has led to record sale pricing and volume in Boca Raton, with office sale volume reaching $926.5 million for the year 2021. The average sales price for office space is currently $300 per square foot and over $330 per square foot for retail space. Additionally, the average rental rate for office space in Boca Raton has increased 6.6 percent year-over-year while the average rental rate for retail space has increased 10.2 percent year-over-year.

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Half Sized Blog Element (Multi Author Style)

CBRE Arranges Sale Of Ft. Lauderdale Office Building

Office, Retail Complex In Boca Raton Sells For $12.65 Million

CBRE Arranges Sale Of Ft. Lauderdale Office Building

Office, Retail Complex In Boca Raton Sells For $12.65 Million

Full Sized Blog Element (Big Preview Pic)

CBRE Arranges Sale Of Ft. Lauderdale Office Building

Office, Retail Complex In Boca Raton Sells For $12.65 Million

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