Zimmerman offices in Fort Lauderdale sell at loss

Miami /
Jun.June 04, 2015 09:45 AM

A Fort Lauderdale office building, whose main tenant before falling into foreclosure was media giant Zimmerman & Partners Advertising, has been sold for a meager $3.3 million — almost $8 million below its 2005 price tag.

Located at 2200 West Commercial Boulevard, the 69,193-square-foot building sits on a 2.3-acre lot and was owned by DMARC 2006-CD2 Broward Facilities.

The South Florida Business Journal reported in 2013 that DMARC represented a commercial mortgage-backed securities trust, which filed suit against the building’s previous owners over a $19.6 million delinquent loan on that property and another office complex in Fort Lauderdale.

Zimmerman & Partners, which was the building’s main tenant, decided to not renew its lease that expired in 2014.

DMARC won the suit in 2014 against an affiliate of Boston-based Cabot Investment Properties, and sold the building, at 2200 West Commercial Boulevard, a little less than a year later.

Now, the building is owned by an Illinois-based company led by Roshan Shoffet. Keith Kidwell, Les Byron, and Steve Davis of commercial brokerage Sperry Van Ness represented Shoffet in the deal. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Moderno Development managing partner Doron Broman and a rendering of Rivr Lofts (Cube 3, Moderno Development)
Moderno nabs $102M construction loan for Fort Lauderdale apartment tower
Moderno nabs $102M construction loan for Fort Lauderdale apartment tower
The Gateway at Wynwood office building at 2916 North Miami Avenue with R&B Realty Group CEO Aron Rosenberg (LinkedIn, R&B Realty Group)
Lease roundup: Gateway at Wynwood, Goodtime Hotel score tenants
Lease roundup: Gateway at Wynwood, Goodtime Hotel score tenants
 EverWest Real Estate Investors’ Rick Stone with  635 Northwest Fourth Ave (LinkedIn, Loopnet)
EverWest pays $14M for Fort Lauderdale industrial property
EverWest pays $14M for Fort Lauderdale industrial property
Naftali Group CEO Miki Naftali and the dev site at 201 North Federal Highway (Loopnet, Naftali Group)
Naftali doubles down in South Florida, buys Fort Lauderdale dev site for $20M
Naftali doubles down in South Florida, buys Fort Lauderdale dev site for $20M
Real Estate Investment Services’ Kyle Matthews with  201 East Las Olas Boulevard (Real Estate Investment Services, Loopnet)
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
From left: Dave Benson of Morningstar Properties; Tim Petrillo of Urban Street Development; 125 Northwest Fourth Street in Fort Lauderdale (Urban Street Development, Morningstar Properties, Google Maps)
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
 Bryan Hanson with 70 Isla Bahia Drive (Zimmerbiomet,
 Compass)
Medical device honcho pays $14M for waterfront Fort Lauderdale spec house
Medical device honcho pays $14M for waterfront Fort Lauderdale spec house
arrow_forward_ios

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

Loading...