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Broward County public schools mull sale-leaseback of Fort Lauderdale space: report

July 12, 2012 04:30PM

The hurricane damaged Kathleen C. Wright Building

An unnamed Jones Lang LaSalle broker has organized an offer for Broward County Public Schools to lease the BankAtlantic headquarters or alternatively trade it for the schools’ current downtown Fort Lauderdale headquarters, the South Florida Business Journal reported.

The first option for the school district under the broker’s plan is to sell the district’s 150,000-square-foot building at 600 SE Third Avenue in Fort Lauderdale and then lease it from the new owner. The alternative scheme would reportedly be for the district to lease the 180,000-square-foot BankAtlantic headquarters at 2100 Cypress Creek Road, also in Fort Lauderdale.

The school district bought the building over a decade ago for $23.3 million and then undertook a $6 million renovation. It has since experienced severe hurricane damage.