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Investor Moshe Popack pays $9.3M for inter-connected office buildings in Lauderhill

The 97,000 sf Executive University Courts sold for $96 psf
May 26, 2017 05:30PM

4300 North University Drive (Inset: Dominic Montazemi)

South Florida investor Moshe Popack just paid $9.3 million for six, two-story inter-connected office buildings in Lauderhill.

Cushman & Wakefield negotiated the sale of the 97,000-square-foot Executive University Courts at 4300 North University Drive for $96 per square foot to Popack’s MYP Executive, LLC.

Cushman & Wakefield’s Dominic Montazemi, Greg Miller and Scott O’Donnell represented the seller, Kas University LLC, a Coral Gables-based company, according to a release.

The entity bought the offices for $5.3 million in 2013, property records show. The office buildings were built in 1987.

Executive University Courts sits on a 5.9-acre site in central Broward County, and is 84.1 percent leased. Tenants include Strax Rejuvination, Optimum Education Group and Authorized Recovery, according to the release.

Also in Lauderhill, an 88-unit apartment complex sold for $7.5 million in August, or $85,227 per unit.

Earlier this month, an office building in Fort Lauderdale sold for $19.5 million, to development and real estate investment firm Greystar, which plans to build a high-rise rental tower.

In 2015, Popack sold a Tamarac rental community for $16.3 million and also, with Joseph Popack, purchased a nearly 600-unit apartment complex in North Miami for $25.5 million. — Amanda Rabines