TA Realty’s Plantation office portfolio hits the market

It could sell for more than $46M based on comparable sale of nearby office complex

Mar.March 14, 2018 11:30 AM

Pointe 1801, Southpointe and Pointe Broward and Avison Young’s David Duckworth (Credit: Avison Young)

A portfolio of three office buildings in Plantation just hit the market.

Brokers David Duckworth, John Crotty and Michael Fay of Avison Young are listing the property unpriced. But the $43 million sale of a nearly 240,000-square-foot office park in February could provide insight into the price. That property sold for $180 per square foot. At that price per square foot, the TA Realty buildings could sell for about $46.3 million. They could also sell individually.

TA Realty owns the 257,000-square-foot office portfolio. The Boston-based asset manager paid at least $41 million for the buildings in 2007.

The portfolio includes Pointe 1801, a 99,000-square-foot office building at 1801 Northwest 66th Avenue. The property was recently renovated and is fully leased to tenants like Envision Healthcare Corp. Southpointe, the second building at 7901 Southwest Sixth Court, spans nearly 80,000 square feet and is 98 percent leased. And the third building, Pointe Broward, a 78,000-square-foot office building at 8211 West Broward Boulevard, is 79 percent leased to a majority of law firms and accounting firms, according to a press release. The office building includes an adjacent parking garage.

Plantation has become one of Broward County’s booming suburban markets for corporations looking to avoid the congestion of downtown Fort Lauderdale, attracting companies like Virgin Voyages, American Express and Motorola.

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