Zaragon buys Plantation office building from TA Realty

Pointe 1801 is fully leased, with Envision Healthcare its largest tenant

Aug.August 21, 2018 03:30 PM

Pointe 1801 at 1801 Northwest 66th Avenue (Credit: Avison Young)

Zaragon just picked up an office building in Plantation for $16.55 million.

Known as Pointe 1801, the 99,255-square-foot building at 1801 Northwest 66th Avenue sold for about $167 per square foot. Property records show the seller, TA Realty, bought the building in 2007 for $11.8 million.

The office building is fully leased, according to a press release. In October, a subsidiary of Envision Healthcare Corp. inked an 89,140-square-foot office lease at the property, which was valued at more than $20 million.

The office building hit the market as part of a three-building portfolio earlier this year, and is the last of the three that TA Realty has sold, bringing its total sell-out to nearly $50 million.

Brokers David Duckworth, John Crotty and Michael Fay of Avison Young had the listing for the portfolio, including Southpointe at 7901 Southwest 6th Court, which sold to the Green Companies in July for $18.5 million; and a 78,000-square-foot office building at 8211 West Broward Boulevard, which was purchased by the Balogh Jewelers family for $14.25 million. 

Built in 1983, Pointe 1801 last year underwent a series of renovations to the lobby, common areas, elevator and parking lot.

Zaragon is based in Chicago and is led by developer Rick Perlman, who formerly worked at Sam Zell’s Equity Financial and Management Company. Zaragon is known for developing and investing in student housing projects throughout the U.S.

According to its website, Perlman’s company manages a portfolio of properties consisting of about 3,500 apartments, 1,100 manufactured housing units, 1.2 million square feet of office and industrial space and several thousand acres of vacant land.

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