Tag Archive for: stephen hyatt

Berger Commercial Realty’s Steve Hyatt, Brian Batchelder Negotiate Sale Of Pompano Beach Office Building For $12,750,000

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt and Vice President Brian Batchelder represented the Seller, Federal Tower, Inc., in the sale of Federal Tower, located at 1600 South Federal Highway in Pompano Beach.

Buyer Vera Fund, LLC paid $12,750,000 for the 68,711-square-foot office building, equating to nearly $186 per square foot. The buyer was represented by Nick Polyushkin, CEO and Founder of Vera Realty.

The transaction closed January 24.

Built in 1976, the iconic blue glass building is a highly prominent, 11-story Class B office building situated on 2.3 acres, with a strong history of high occupancy with long term tenants. It is located on the southern border of Pompano Beach and northern border of Fort Lauderdale within close proximity to two major hospitals – Imperial  Point Hospital and Holy Cross Medical  Center – and to upscale residential neighborhoods of Bay Colony and Imperial Point.

The Buyer plans to renovate the building and attract additional medical and small office tenants. There is also potential for long term redevelopment of the entire site.

“Well-located office buildings with a larger percentage of medical-related tenants continue to be a favorite asset class,” explained Hyatt.  “For obvious reasons,  medical real estate has not been impacted by the post Covid- work-from-home trend that has negatively affected other office assets.”

This is the third property that Hyatt and Batchelder have sold on behalf of this client.

 

Berger Commercial Realty’s Stephen Hyatt Reps Lighthouse Of Broward In Purchase Of New HQ Building

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented Lighthouse of Broward in the purchase of the former Brightstar Credit Union Headquarters located at 5901 Del Lago Circle in Sunrise.

Brightstar Credit Union sold the 23,185-square-foot building, which served as its executive offices, for $6,200,000. The 2002-built building is situated on 2.02 acres. Brightstar recently relocated to a new 70,318-square-foot headquarter office in Cooper City, Florida.

The newly purchased building will serve as Lighthouse of Broward’s administrative offices and training center for the blind and visually impaired.

Chris Wood with CBRE and Zach Wendelin, who is now with JLL, represented Brightstar in the transaction.

Hyatt negotiated the sale of the Lighthouse of Broward‘s building located at 650 North Andrews Avenue in Fort Lauderdale, Florida, and attorney George Moraitis of Moraitis, Cofar, Karney, Moraitis & Quailey handled all legal review. Both Moraitis and Hyatt represented Lighthouse of Broward, the preeminent nonprofit in Broward County serving the blind and visually impaired, in the pro bono transaction. The transaction of the ±11,125-square-foot office property, located on a highly visible corner in the heart of the booming Flagler Village area, closed February 22, 2023. The buyer paid $12,650,000 for the property.

“Because of the very successful sale of its downtown location, Lighthouse of Broward County was able to acquire a high-quality, fully-furnished headquarters twice the size of its current location for half the price in a more centralized location to better serve all of Broward County,” commented Hyatt. “The remaining funds will be used for minor renovations with the bulk of the additional proceeds placed in an endowment to fund future services for the blind and visually impaired.”

Lighthouse of Broward President and CEO Ellyn Drotzer, MSW, LCS added that the larger, more accessible space has will enable the organization to connect with additional members of the community who face vision issues.

“This is an amazing opportunity to help more people who are blind and visually impaired become more independent and productive through specialized rehabilitation, life skills training and employment opportunities,” said Drotzer.  “Our new space will accommodate robust programming, additional learning opportunities and more space for client socialization.  We look forward to moving into our new building next year and are grateful to both Steve and the Berger team for their expertise, and George Moraitis for his stellar legal services.”

 

Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Downtown Fort Lauderdale Office Condo

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller, AMUCO Trading LLC, in the sale an office condominium located within Fort Lauderdale’s Museum Plaza.

Dowding Holdings, Inc. paid $1,347,000 for the 4,772-square-foot upscale corporate office located in Suite 200 at 200 South Andrews Avenue. The fully renovated building served as the former headquarters for Blockbuster Entertainment Corporation. Dowding represented themselves in the transaction.

“The buyer had been leasing in the area and decided he would prefer to take advantage of this rare ownership opportunity,” commented Hyatt.

The deal closed July 29.

Class A Museum Plaza offers on-site security and property management, technologically-savvy surveillance, special private key access, valet parking, and more in the in the heart of downtown Fort Lauderdale. The suite features upgraded flooring, large glass wall conference rooms, perimeter offices with glass walls and window-views, an open bullpen area for workstations as well as a high-end open area for a trading floor or similar use. Additionally, there is a large kitchen/break-room area, wellness room, storage and IT/Technology area currently in place.

 

Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Fort Lauderdale Office Building For Company HQ

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Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller, Rawworld Enterprises LLC, in the sale of its office/retail property located at 2495 East Commercial Boulevard in Fort Lauderdale.

Tricoastal Construction LLC paid $2,250,000 for the asset. The high-end residential construction company plans to convert the former vegan restaurant and dance studio to its corporate offices.

“The property generated substantial activity due to its excellent condition and prime location,” explained Hyatt. “It sold and closed in less than 4 months.”

The 6,657-square-foot building, which features Class A finishes throughout, is situated on .23 acres with 100 feet of frontage on E Commercial Blvd.

This is the second property that Hyatt has sold for this owner in the past two years.