Lone Star Funds announced that an affiliate of Lone Star Real Estate Fund VII, L.P., along with an affiliate of Highline Real Estate Capital LLC and Square2 Capital LLC, acquired the asset, marking the most significant office acquisition in Broward County in the past decade.
The asset is among the tallest office buildings in Sunrise and is the only property in the submarket with garage parking, adjacent hospitality and wal ...
The four-story, 93,219-square-foot boutique office building traded for $20 million.
Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly of CBRE brokered the transaction on behalf of both the buyer and seller.
The 131,680-square-foot property consists of two single-tenant net leased buildings. CLICK ON THE HEADLINE FOR MORE
The price equated to $267 per square foot.
The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset. CLICK ON THE HEADLINE FOR MORE
The complex is 90 percent leased to 40 tenants from a variety of industries including healthcare, law, finance and engineering.
The three Class-A office buildings total 222,682 square feet. CLICK ON THE HEADLINE FOR MORE
Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction. CLICK ON THE HEADLINE FOR MORE
