Marcus & Millichap announced the sale of BB&T Bank Building, a 37,369 square foot office property located in Coral Springs.
The asset sold for $4,275,000, equating to $114 per square foot.
Douglas K. Mandel, a first vice present investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Miami.
“This was an opportunity for an investor to acquire a stabilized asset located within the Coral Springs Community Redevelopment Area. The focus of the redevelopment plan is to convert the current low-density, unconnected, car-dependent, development pattern into a ‘real downtown’ where none has existed before,” says Mandel.
BB&T Bank Building was constructed in 1978 and is 93 percent occupied with a mix of professional office and medical office tenants. BB&T Bank has a branch in the property with drive-thru lanes and an ATM. The property is located adjacent to the Broward Health Coral Springs Hospital at 9600 West Sample Road in Coral Springs.
