Dezer pays $20M for Nova Southeastern’s North Miami Beach campus

Dezer Development just picked up a development site currently home to Nova Southeastern University’s North Miami Beach campus for $20 million.

Property records show Nova Southeastern University sold the 8.28-acre property at 1750 Northeast 167th Street to the Sunny Isles Beach-based development firm, less than a year after it hit the market for $32 million. NSU, which has its main campus in Davie, has its Abraham S. Fischler School of Education and NSU Health Care Center at the North Miami Beach campus.

The university entered into a five-year lease with Dezer with the option to renew for a one-year extension, records show.

The property includes 245,400 square feet of leasable space, which breaks down to a four-story, 52,800-square-foot building, a three-story, 28,000 square-foot building, a five-story, 153,000 square-foot building where the health care center is located, a three-story parking garage, two parking lots and a vacant lot.

Adam Tiktin of Tiktin Real Estate Investment Services brokered the deal. When the site hit the market in October, Tiktin said it could be redeveloped.

Dezer Development, which completed Porsche Design Tower in Sunny Isles Beach about two years ago, is sitting on a few development sites in South Florida, including the nearby Intracoastal Mall at 2501 Sunny Isles Boulevard in North Miami Beach.

The city of North Miami Beach recently approved a 2.5-million-square-foot mixed-use project called New North Town Center at 15530 West Dixie Highway.

Dezer and Nova Southeastern could not immediately be reached for comment.