A Miami-based company plans to sell a parcel on U.S. 1 in Hallandale Beach zoned for commercial development.
The land is across Federal Highway from Gulfstream Park and zoned for an office building, a hotel or a mix of uses including retail stores.
Brokerage firm Avison Young is marketing the 0.77-acre parcel at 804 South Federal Highway.
According to Avison Young, the zoning would allow a 20-story commercial development with 202,380 square feet of interior space.
The Miami-based owner of the land is SMIR 3001 LLC.
John Crotty, a principal of Avison Young, told the Sun-Sentinel that the land in Hallandale Beach has potential as an office development site because it is just north of Aventura, which is “one of the best office markets in South Florida.”
Avison Young research shows that Hallandale Beach has a 7 percent office vacancy rate.
Multiple office developments are under way in Hallandale Beach, according to the city government’s website.
They include the Accesso office building at 100 North Federal Highway, the Beacon office building at 800 Southeast Fourth Avenue, Chateau Square at 600 East Hallandale Beach Boulevard and Peninsula Office Tower a 124 South Federal Highway. [Sun-Sentinel] – Mike Seemuth