Comerica Tower sells for $32.5M

Comerica Tower (via CBRE)
Comerica Tower (via CBRE)

A Massachusetts investor bought Comerica Tower in downtown Fort Lauderdale for $32.5 million.

Brookwood Financial Partners paid $196 per square foot for the Class A office building at 100 Northeast Third Avenue, according to CBRE, which represented seller Beacon Investment Properties of Hallandale Beach. Broward County has not recorded the transaction.

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The 11-story, 166,098-square-foot building was 82 percent leased when the sale to Brookwood was completed. It was only 69 percent occupied when Beacon acquired the property two years ago.

Beacon was represented by CBRE vice chairmen Charles Foschini and Christian Lee, first vice president Christopher Apone and senior associate Jose Lobon. They were assisted by CBRE brokers Travis Herring and Deanna Lobinsky and JLL broker Jonathan Kinglsey. — Eric Kalis