Tag Archive for: uptown urban village

Cushman & Wakefield Arranges Sale Of Cypress Creek Office Building

/in , /by

Cushman & Wakefield announced the sale of Prisma at Cypress Creek, a 39,249-square-foot office building located in Fort Lauderdale’s Cypress Creek submarket that is managed by Maynada Capital Advisors, LLC and Ark Plus Group, LLC.

The final sale price was $7.95 million, equating to more than $202 psf.

Cushman & Wakefield’s Miguel Alcivar, Greg Miller, Scott O’Donnell, Dominic Montazemi, and Mike Ciadella represented the seller, South Florida Innovative Offices LLC, in the transaction. Prisma at Cypress Creek was acquired by BFO 1000 NW 65TH ST LLC, a user who plans to office at the building. The buyer was represented by Tom Skeba with RE/MAX.

“Prisma at Cypress Creek offers a differentiated value proposition when compared to similar office assets within the Cypress Creek submarket” said Miller, Director at Cushman & Wakefield. “Through the sellers recent repositioning of the building’s common areas with warm interior finishes and well-appointed art installations, the building has transformed into a contemporary suburban office location and was able to attract multiple new tenants under long-term lease commitments.”

The office building spans three stories and is located at 1000 NW 65th St. It was 93% leased at the time of sale to several tenants in the marketing, engineering, consumer finance, and healthcare sectors.

Prisma at Cypress Creek offers a key transportation competitive advantage through its central location within the Cypress Creek submarket and close proximity to Fort Lauderdale Executive Airport, the Tri-Rail, and major highways such as Interstate 95 and Florida’s Turnpike via Cypress Creek Road. In fact, more than five million people are accessible within a one-hour drive. The office building is also within Fort Lauderdale’s Uptown Urban Village overlay district, which is becoming a live-work-play destination for the area.

 

Cushman & Wakefield’s John Criddle, Joseph Freitas Named Exclusive Leasing Advisors For Cypress Creek Office Building

/in /by

The Cushman & Wakefield office leasing team of John Criddle and Joseph Freitas has been named exclusive leasing advisor for Lakeside Plaza by Hollywood, FL-based owner Naya USA Investment & Management LLC.

Lakeside Plaza is a five-story, ±119,339-square-foot office building developed on a ±6.0-acre site at 6301 NW 5th Way in Corporate Park at Cypress Creek.

The property is situated in the heart of Fort Lauderdale’s Uptown Business District. This location offers unmatched access to Interstate 95, the Cypress Creek Tri-Rail Station and the Fort Lauderdale Executive Airport. The Uptown Business District is poised for additional development and redevelopment that will transform it into the envisioned Uptown Urban Village, a walkable neighborhood of offices, residences, retail and hospitality.

“With the planned renovations, Lakeside Plaza will be a premier mid-rise suburban office building offering a strategic location in the greater Fort Lauderdale office market,” said Criddle.

“As building renovations continue to drive rents and leasing activity in the Cypress Creek market, ownership hired our team to assist in repositioning the asset to complete at a higher class and quality,” added Freitas.

Lakeside Plaza is currently 77.82% leased with 24,466 square feet available at rates ranging from $17.50 to $18.00. Notable tenants include Bosch Security Systems, Custom Service, The Singing Machine and Bitedefender.

Criddle and Freitas are also exclusive leasing advisors for Naya USA’s 7800 Congress Ave., a 40,800-square-foot office building in Boca Raton. Cushman & Wakefield’s South Florida Commercial Team negotiated the $17.65 million sale of Lakeside Plaza to Naya USA in January 2018.