The Real Deal Miami

Orlando investment firm lists Sunrise
office complex

It could sell for up to $62M, report says
November 30, 2017 12:00PM

Sawgrass Lake Center and Thomas K. Sittema is the CEO of CNL Financial Group (Credit: HFF, CNL Financial Group)

CNL Financial Group’s Sawgrass Lake Center in Sunrise just hit the market and could sell for up to $62 million, according to REAlert.

The Orlando-based investment firm listed the 239,000-square-foot office complex at 13450 West Sunrise Boulevard with HFF. The $62 million price breaks down to about $260 per square foot.

Records show CNL paid $45.2 million for the 7-acre property in 2014. It later secured $38.2 million in refinancing from Mesa West Capital.

Sawgrass Lake Center, built in 2001, is anchored by AT&T, which occupies 58,000 square feet in the six-story building, according to REAlert. Other tenants include Nuance Communications, First American Title, J.P. Morgan and AvMed.

A number of corporations, like HBO Latin America, Blackberry and Emerson, have moved their regional headquarters to Sunrise in recent years. Developer Joseph Kavana is also building the first phase of Metropica, a master-planned, mixed-use community in Sunrise. [REAlert] – Amanda Rabines