Fort Lauderdale offices sell for $104 per square foot

Cushman represented the seller in $7.1 million sale of Business Plaza at Corporate Park

TRD MIAMI /
Sep.September 04, 2016 01:15 PM

Business Plaza Corporate Park, a two-building office park in northwest Fort Lauderdale, sold for $7.1 million, or $104 per square foot. It was 86 percent occupied when the sale closed.

“Business Plaza Corporate Park offered investors strong in-place yields with significant room for upside by leasing vacancies and pushing rental rates,” Cushman & Wakefield executive director Scott O’Donnell said in a written statement. The two-building property is located in “major business hub driven by its central location within South Florida and excellent access to I–95.”

O’Donnell, Cushman & Wakefield senior director Miguel Alcivar and senior associate Greg Miller represented the seller, Boca Raton-based 6400 Associates, LLC. The new owner is Coconut Creek-based TMT Properties, Inc.

The property’s biggest tenants include American Renal Associates, Comprehensive Home Care, Malcolm Drilling, Skillstorm Commercial Services, Southeast Renewable Fuels and U.S. Security Associates.

The two office buildings at Business Plaza at Corporate Park have a total of 68,153 square feet of space. They occupy a five-acre site at 6400-6472 Northwest 5 Way.


Related Articles

arrow_forward_ios
UDT CEO Henry Fleches and Midtown Capital CEO Alejandro Velez with 2900 Monarch Lakes Boulevard (Miramar Parks & Rec, Midtown Capital, Cushman & Wakefield)

Midtown Capital Partners buys Miramar office center for $23M

Midtown Capital Partners buys Miramar office center for $23M
Despite record high office vacancies across South Florida, average asking rates hit new highs

South Florida Q3 office rents hit record high, despite higher vacancies

South Florida Q3 office rents hit record high, despite higher vacancies
Mike Napoli and 2501 Delmar Place (Getty, Coldwell Banker)

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M
Tere Blanca and the Aventura office complex (Credit: Google Maps)

Aventura office complex Optima inks new leases

Aventura office complex Optima inks new leases
2290 and 2328 10th Avenue N, Lake Worth

Lake Worth Beach office buildings sell for $11M

Lake Worth Beach office buildings sell for $11M
4 West Las Olas

Fort Lauderdale developers score $92M bridge loan for rental tower

Fort Lauderdale developers score $92M bridge loan for rental tower
John Moran Jr. and 5 Isla Bahia Terrace, Fort Lauderdale

Warehousing CEO pays $8M for waterfront Fort Lauderdale house

Warehousing CEO pays $8M for waterfront Fort Lauderdale house
Blackstone's Jonathan Gray and Stephen Schwarzman (Getty, iStock)

Blackstone to open office in South Florida

Blackstone to open office in South Florida
arrow_forward_ios

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

Loading...