Plantation offices fetch $52M in sale

Miami /
Mar.March 31, 2015 11:15 AM

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


Related Articles

arrow_forward_ios
1 South Pine Island Road (Newmark)
KPC Properties buys Plantation apartment complex for $46M
KPC Properties buys Plantation apartment complex for $46M
Merrimac Ventures co-CEOs Nitin Motwani and Dev Motwani. (Merrimac)
Motwanis’ Merrimac Ventures scores $72M construction loan for Plantation apartments
Motwanis’ Merrimac Ventures scores $72M construction loan for Plantation apartments
(MMG Equity Partners)
MMG Equity buys Plantation shopping center for $12M
MMG Equity buys Plantation shopping center for $12M
Midtown Capital Partners managing partner Alejandro Velez (Cushman & Wakefield, Midtown Capital)
Midtown Capital Partners buys Plantation office building for $78M
Midtown Capital Partners buys Plantation office building for $78M
American Landmark CEO Joe Lubeck and The Marin. (American Landmark, Arium)
American Landmark buys Plantation apartments for $58M
American Landmark buys Plantation apartments for $58M
Executive Court at Jacaranda at 7800-8040 Peters Road (Google Maps)
Intalex Capital buys Plantation office park for $15M
Intalex Capital buys Plantation office park for $15M
Raanan Katz of RK Centers with the Veranda Shoppes at 500-560 North Pine Island Road in Plantation (Photos via Raanan Katz, Google Maps)
Raanan Katz buys Publix-anchored Plantation shopping center for $17M
Raanan Katz buys Publix-anchored Plantation shopping center for $17M
Rendering of Plantation apartments with PGIM's Eric Adler and Stiles Corp's Ken Stiles (Stiles)
Stiles, PGIM buy Plantation multifamily dev site from synagogue, score $64M financing
Stiles, PGIM buy Plantation multifamily dev site from synagogue, score $64M financing
arrow_forward_ios

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

Loading...