Sunrise office building sells for $11M

Miami /
Jan.January 12, 2015 04:00 PM

An office building in Sunrise sold for nearly $11 million last week.

An affiliate of Douglas Pike Associates purchased the renovated 94,000-square-foot Atrium West building for $10.95 million.

David Duckworth, Avison Young vice president of investment sales, represented the seller, ROVI Properties, who bought the class B property in 2012 for less than half of the selling price —  $4.8 million. 

Atrium West, located at 7771 West Oakland Park Boulevard, is 90 percent occupied and has undergone recent renovations, including new porcelain tile floors, modern furniture throughout the new lobby, and fresh landscaping, among others. The property’s lot size is 306,609 square feet, according to Broward County records. Atrium 93, a shell corporation for ROVI Properties, is listed as the seller.

“With office building sales continuing to improve in Broward due to strong leasing activity and rising rental rates, this sale is a testament to the renewed confidence in the market for office investors,” Duckworth said in a statement. — Kristina Puga


Related Articles

arrow_forward_ios
Jim Carr of CC Homes with an aerial of the Sunrise development (CC Homes, Google Maps)
CC Homes plans to build 900 homes on shuttered golf course in Sunrise
CC Homes plans to build 900 homes on shuttered golf course in Sunrise
Alan Ojeda and 8894 NW 44 Street in Sunrise (Google Maps)
Rilea Group scores $46M construction loan for Sunrise apartments
Rilea Group scores $46M construction loan for Sunrise apartments
Sunrise Imposes Moratorium To Avoid “Food Desert” Threat
Sunrise suspends small store developments that pose “food desert” threat
Sunrise suspends small store developments that pose “food desert” threat
Metropica and Joseph Kavana
First condo tower at massive Metropica development in Sunrise completed
First condo tower at massive Metropica development in Sunrise completed
5010 Nob Hill Road (Credit: Google Maps)
Sunrise affordable senior housing facility sells for $30M
Sunrise affordable senior housing facility sells for $30M
Metropica and Joseph Kavana (Credit: iStock)
Condo buyer sues Metropica developer over delays
Condo buyer sues Metropica developer over delays
Joseph Kavana a rendering of Metropica and a Stefan Szczesny sculpture
Art Miami sculptures to fill Metropica
Art Miami sculptures to fill Metropica
Clockwise from left: MG3 Developer Group’s principals Gustavo Bogomolni, Hernan Leonoff and Marcelo Saiegh with 789-799 International Parkway (Credit: Google Maps)
MG3 pays $33M for office buildings near Sawgrass Mills
MG3 pays $33M for office buildings near Sawgrass Mills
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...