AmEx completes Sunrise land purchase

American Express cards
American Express cards

American Express has completed the $21.5 million purchase of the Sunrise property that will be developed into the company’s regional headquarters, The Real Deal has learned.

The financial services company closed on the acquisition of the 40-acre parcel on the east side of Northwest 136th Avenue last Friday, according to Broward County records. A company managed by Coral Gables-based Flagler is the seller. The county recorded the transaction on Monday.

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American Express already has 3,500 employees in Plantation, Miramar and Weston offices and plans to build a 400,000-square-foot facility to consolidate all of its South Florida operations. The company was believed to be considering options outside of Florida if the land purchase did not work out.

Construction of the new building could start during the fourth quarter of 2014. The project is expected to take three years to complete. — Eric Kalis