The Real Deal Miami

Plantation offices fetch $52M in sale

Offices last sold for $44M in 2010
March 31, 2015 11:15AM


The Jacaranda Business Park in Plantation

A Plantation office complex recently sold for $52 million to a New York-based trust.

The two-building complex, at 1600 and 1601 Southwest 80th Street, was reportedly sold to the Gramercy Property Trust in New York, which specializes in buying and leasing out commercial properties.

Formerly known as Broadspire Building, the complex is now called the Jacaranda Business Park.

The office park was built in 1996 on 20.3 acres. The buildings are 122,167 square feet and 124,382 square feet, the South Florida Business Journal reported.

The site last sold for $44 million in 2010.

In a different kind of commercial sale, the vacant Fashion Mall in Plantation was sold for $37.7 million during a bankruptcy auction earlier this month. The mall was purchased by the Encore Housing Opportunity Fund, which is managed by Art Falcone.

He told The Real Deal he plans to raze the 828,000-square-foot mall and redevelop the land into a mixed-use project with offices, residences, shops and restaurants. [South Florida Business Journal]Sean Stewart-Muniz