The Real Deal Miami

Ft. Lauderdale retail sale sets pricing record

Miami investor pays $406 per square foot for downtown property
January 24, 2014 11:15AM

Waverly at Las Olas

Waverly at Las Olas

A downtown Fort Lauderdale retail property sold for a record per square foot price.

Miami investor Waverly 1 and 2 paid $9.2 million for the 100 North Federal Highway retail condominiums at the Waverly at Las Olas, Daily Business Review reported. The $406 per square foot paid by the buyer is a record for the area, according to Stiles Realty, which represented seller REIMS Waverly. A mixed-use multifamily building, Waverly was developed in 2005.

The retail condos total 22,655 square feet and are home to five national and local tenants. Body Care by Dr. G Stratt, Egmondt Fine Bakery, E*Trade Financial Corp., Inligua Language School and PNC Financial Services Group occupy the property. [Daily Business Review]Eric Kalis