Tag Archive for: kei properties

Tiktin Real Estate Brokers $16.5 Million Sale Of Broward Office Building

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Tiktin Real Estate Investment Services (TREIS) announced the sale of an 11-story, 117,668 square-foot multi-tenant office building at 1250 E. Hallandale Beach Blvd. in Hallandale Beach.

The buyer, Soliman Corp., an affiliate of 1250 E. Hallandale LP, acquired the property from Murray Family Associates, an affiliate of KEI Properties, for $16.5 million.

Adam J. Tiktin, president and broker of TREIS, represented both the Buyer and Seller in this transaction.

The closing took place March 31st.

Originally constructed in 1973, the building is 78 percent leased. The city of Hallandale Beach is one of South Florida’s most dynamic and fast growing cities. The building is situated on over 2.5 acres of land and located just two miles from the Aventura Mall and less than a mile away from Gulfstream Park.

 

Two Hallandale Beach Office Buildings Hit The Market

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Tiktin Real Estate Investment Services (TREIS) has announced two office buildings at 1250 and 2100 E. Hallandale Beach Blvd. in Hallandale Beach have hit the market for $36 million.

Adam J. Tiktin and Alejandro Snyder of TREIS are the exclusive sales agents and represent the Seller, KEI Properties. The buildings are located on the south side of East Hallandale Beach Boulevard and offer excellent visibility and signage opportunities. They are available as a portfolio or for individual sale.

Built in 1982 and situated on 2.7 acres, the 1250 E. Hallandale Beach Blvd. building is 11 stories tall and totals 110,447 rentable square feet. The building is currently nearly 87 percent occupied by medical and professional offices and is anchored by a 12,800 square foot gym.

Just two blocks east and constructed in 1968, the 2100 E. Hallandale Beach Blvd. building features four stories and totals a lot size of 85,680 square feet.  The building is 92 percent occupied by mostly medical and professional offices as well. Situated on nearly two acres, 2100 East Hallandale Beach Blvd. allows for several redevelopment opportunities, as the current zoning allows for developers to build up to 350 feet.

The office market in Hallandale Beach is one of the region’s lowest vacancy markets, showing high supply and demand with only seven percent vacancy as of Q4 2018. This area has experienced significant development with two hotels built in the last three years. Additionally, there are nine projects under construction in Hallandale and 11 approved developments in the pipeline.