The Real Deal Miami

Sunrise office complex sells for $45.2M

Invesco takes $4M hit on Sawgrass Lake Center sale

April 02, 2014 12:00PM
By Eric Kalis

  • Print
Sawgrass Lake Center

Sawgrass Lake Center

A Sunrise office complex changed hands for $45.2 million, The Real Deal has learned.

The seller, a company managed by Dallas-based Invesco Realty Advisors, took a $4 million loss in the transaction. Invesco paid $49.1 million for the 13450 West Sunrise Boulevard complex, which is currently known as Sawgrass Lake Center, in December 2005, according to Broward County records. The sale closed on Monday and was recorded by the county on Tuesday.

CCRE SEF Sawgrass is the buyer of the 240,000-square-foot complex, which was built in 2001. State corporate records show the company shares an Orlando mailing address with CNL Financial Group. It did not obtain financing for the purchase.

HFF marketed Sawgrass Lake Center for sale.

MENU