Investors fetch $12.5M for Pembroke Pines office buildings

Sellers are principals of Grover Corlew real estate firm in Boca

Feb.February 24, 2016 10:32 AM

After four years of holding onto a pair of Pembroke Pines office buildings, Anuj Grover and Mark Corlew have sold their properties for $12.5 million.

The buildings are located at 2000-2010 Northwest 150th Avenue near I-75 in western Pembroke Pines.

They measure 82,029 square feet together and occupy about five acres of land, most of which is used for surface parking lots, Broward County property records show.

Corlew and Grover, through a Florida limited liability company called G&C Herald Investments, first purchased the buildings for $9 million in 2012, according to property records. That deal broke down to just under $110 per square foot.

As first reported by the South Florida Business Journal, the investors have now traded the offices to a company named Chelsea Investments 350 for $152 per foot — a 38 percent gain in value.

The buying company is managed by Martha Casanueva of Miramar, records show. Albert Garcia of Keller Williams Coral Gables represented the buyer for this deal.

Corlew and Grover are also principals of a Delray Beach real estate company fittingly named Grover Corlew. Its portfolio consists mainly of commercial properties.

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