The Real Deal Miami

The Green Companies pays $18.5M for office building in Plantation

Plantation has one of the lowest Class A vacancy rates in Broward County
July 17, 2018 04:45PM

Southpointe at 7901 Southwest 6th Court

The Green Companies just paid $18.5 million for a nearly 80,000-square-foot Class A office building in Plantation.

TA Realty sold the the four-story building called Southpointe at 7901 Southwest 6th Court for $232 per square foot. The Boston-based firm put the property on the market in April, along with two other Plantation office buildings, without a price. The Southpointe building was 98 percent leased at the time, according to a press release. TA Realty originally purchased the building in 2007 for $16.25 million.

The company had also listed Pointe 1801, a 99,000-square-foot office building at 1801 Northwest 66th Avenue, and Pointe Broward, a 78,000-square-foot office building at 8211 West Broward Boulevard.

The seller of Southpointe was represented by Avison Young’s David Duckworth, John Crotty, Michael Fay, Greg Martin and Brian de la Fé.

The Green Companies is a Miami-based, family owned real estate business. Its portfolio includes the Dadeland Centre offices in Miami.

Plantation has one of the lowest vacancy rates in Broward for Class A office space, at 5.57 percent in the first quarter of this year, according to research by Avison Young. Over the past few years, the Broward office market has been strong with vacancy rates remaining low, but this year it has started to cool down.  –Keith Larsen