The headquarters of Show Management Convention Services, operators of the Fort Lauderdale International Boat Show, has sold for $17.8 million.
The property is a 10.4-acre industrial site at 1900 Northwest 21st Avenue. It includes a large 88,900-square-foot warehouse where Show Management leases space.
A deed filed in Broward County last week transferred ownership of the property from Ivy 1900 Associates LLC to FEDEQ DV002 LLC for roughly $39.3 per square foot.
Ivy 1900, which is an affiliate of Ivy Realty in New Jersey, first paid $10.9 million for the property in 2011. After four years, the company has resold the industrial site for a hefty $6.9 million premium.
The buyer is an affiliate of the Federated Companies, a real estate investment group with offices in Boston and Miami. Federated financed the deal with an $8.8 million loan from the Hartford Life Insurance Co., according to county records.