Beth Azor buys Plantation office building for $6M

42,000 sf building last sold for $4.5M in 2014

TRD MIAMI /
Jun.June 07, 2016 12:45 PM

Commercial real estate investor and broker Beth Azor has added an office building to her portfolio of South Florida investments.

Azor paid $5.8 million for the Plantation building at 100 South Pine Island Road, Cushman & Wakefield said on Tuesday. Azor is the founder and owner of Azor Advisory Services, a commercial real estate firm based in Davie.

The two-story, 42,511-square-foot Plantation office building was constructed in 1979 and sits on a 2.82-acre plot. It recently underwent common area renovations and a new roof installation in 2010, according to a press release. The building is 92 percent occupied, and it last sold for $4.5 million in 2014.

Cushman & Wakefield’s Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar brokered the deal, which breaks down to $136 per square foot. West Palm Beach-based Morning Calm Management, an owner and operator of office buildings and shopping centers throughout the Southeast, managed the shopping center on behalf of a New York client, records show. The company listed the building last year.

Plantation is home to a number of business parks and a strong multifamily market. Developer Art Falcone plans to redevelop the former 37-acre Fashion Mall into a mixed-use project with 224,104 square feet of commercial and retail space, 247,305 square feet of office space, including an existing office building, and 700 apartment units.

“Its proximity to Broward County’s Clerk of Courts and Westside Regional Medical Center, combined with the future redevelopment of the former Plantation Fashion Mall, should allow for strong rent growth over the next few years,” Miller said in the release.

Azor’s firm owns and manages five shopping centers in Florida, according to its website. Its clients include Kimco, Cushman & Wakefield, Equity One, RAM Realty Services and Adler.

Azor was previously Terranova Corp.’s president from 1997 to 2004. – Katherine Kallergis


Related Articles

arrow_forward_ios
Westfield Broward mall, CEO Christophe Cuvillier

Westfield Broward mall’s $95M CMBS loan heads to special servicing

Westfield Broward mall’s $95M CMBS loan heads to special servicing
Tal Frydman with Hamlet Plantation and The Continental Apartments (Credit: Hamlet via Jenco Properties)

Prism Multifamily Group buys apartments in Tamarac, Plantation for $54M

Prism Multifamily Group buys apartments in Tamarac, Plantation for $54M
Investments Limited’s James Batmasian and clockwise from top left: 22797-22749 State Road 7, Boca Raton; 601 Fairway Drive, Deerfield Beach; 23123 South State Road 7, Boca Raton; 22973-23071 South State Road 7, Boca Raton (Credit: Google Maps)

Investments Limited scores $67M loan for 13 SoFla properties

Investments Limited scores $67M loan for 13 SoFla properties
Josh Zegen, Madison Realty Capital, Invesca CEO Chris Longsworth

Invesca scores $102M construction loan for two SoFla apartment projects

Invesca scores $102M construction loan for two SoFla apartment projects
George Lindemann and Verona View

Lindemann sells Plantation apartments for $75M

Lindemann sells Plantation apartments for $75M
Kim Bokamper and 301 Northwest 127th Avenue in Plantation (Credit: Getty Images)

Former Miami Dolphin Kim Bokamper lists Plantation home

Former Miami Dolphin Kim Bokamper lists Plantation home
IMC Equity Group CEO Yoram Izhak, and 1800 Northwest 66 Avenue (Credit: Google Maps)

IMC Equity Group snags industrial buildings in Plantation for $11M

IMC Equity Group snags industrial buildings in Plantation for $11M
6600 Northwest 14 Street (Credit: Google Maps, iStock)

Mindful Management makes conscious Plantation purchase

Mindful Management makes conscious Plantation purchase
arrow_forward_ios

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

Loading...