Two Fort Lauderdale office properties are facing a $19.6 million foreclosure lawsuit, the South Florida Business Journal reported. The buildings are located at 5300 NW 33rd Avenue and 2200 W Commercial Boulevard and are 110,010 and 69,959 square feet, respectively. The main tenant at 2200 W Commercial Boulevard is Zimmerman & Partners Advertising — one of the largest advertising agencies in South Florida — with a 45,436-square-foot lease that runs through January of 2014.
DMARC 2006-CD2 Broward Facilities, which is representing a CMBS trust, filed the lawsuit late last month against Cabot Trafalgar/Avon — an affiliate of Boston-based Cabot Investment Properties.
The buildings were recently appraised at a combined value of $8.55 million. [SFBJ] —Christopher Cameron