Developer Cabi backs bankruptcy sale of Fort Lauderdale site

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]

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