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South Florida

Royal Palm at Southpointe sells for $100.4M

Royal Palm at Southpointe

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The Royal Palm at Southpointe office complex in Plantation has sold
for $100.4 million to Duke Realty, according to Broward County records. The sale works out to around $216 per square foot for the
465,492-square-foot mid-rise office park, which opened its first
building in 2001. Ed Mitchell, senior vice president of Duke Realty’s South Florida
operations, said the complex was one of the nicest properties in west
Broward, and fit into the company’s strategy of having top Class A
properties. The two-building Royal Palm is 90 percent leased and
includes Ameriprise Financial and Equitrac as tenants. [SFBJ]