The Real Deal Miami

Developer Cabi backs bankruptcy sale of Fort Lauderdale site

December 01, 2011 11:48AM

Cabi Developers, which owns a marine industrial property in Fort
Lauderdale at 400 SW Third Avenue through an affiliate, has proposed the
sale of the 5.1-acre site for $11.75 million in a U.S. bankruptcy court
auction. The company had originally wanted to build a storage facility
on the lot. On Nov. 18, affiliate Cabi New River moved to sell the
property to A&C Builders, working with CB Richard Ellis and Emerald
Real Estate on the deal. [SFBJ]