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South Florida

Executive Airport Business Center in Fort Lauderdale sells for $3.4 million

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Executive Airport Business Center in Fort Lauderdale has been sold for
$3.4 million out of an REP group through special servicer Berkadia. The
buyer was KAS Airport, a limited liability company. The property, which
was built in 1987, was 62 percent occupied at the time of closing. “For
KAS Airport, Executive Airport Business Center presents an opportunity
to add value through leasing the vacant space, while benefiting from a
good in-place net operating income,” said CB Richard Ellis senior
associate Marty Buskerus, who represented KAS. — Alexander Britell