Starwood sells Sunrise office building to Barron Collier Cos.

Tenants include Ford Motor Co. and Performant Financial Corp.

TRD MIAMI /
Sep.September 26, 2018 10:30 AM

Barry Sternlicht and Sawgrass Pointe II

A partnership led by Starwood Capital Group just sold another one of its office buildings within Sawgrass International Corporate Park in Sunrise, this time for $27.25 million.

SVT Sawgrass Point II LP, tied to Starwood, sold Sawgrass Pointe II at 1200 Sawgrass Corporate Parkway for about $280 per square foot to a joint venture between Barron Collier Cos. and Vanderbilt Office Properties, property records show. The partners financed the deal with a $13.55 million loan from Wells Fargo Bank.

Records show Sawgrass Pointe II last traded for $20 million in 2015. The property was part of a larger nine-property office portfolio that Duke Realty sold for a total of $178.3 million.

The 95,800-square-foot, three-story building is home to automobile giant Ford Motor Co. and Performant Financial Corp.

Barron Collier Companies now has a 97 percent interest in the building, with the remaining 3 percent owned by Vanderbilt Office Properties.

Earlier this year, the partnership, including Starwood, Trinity Capital Advisors and Vanderbilt Office Properties, sold Sawgrass Pointe I for $51.1 million.

Barron Collier Companies is a family-run company that has operates commercial real estate, residential properties, oil exploration, agri-business and golf courses in Florida. Collier County in southwest Florida is named after the company’s founder, Barron Collier, who in the 1920s amassed a large portfolio of land in the area.


Related Articles

arrow_forward_ios
Sawgrass International Corporate Park

Brookdale buys back Sawgrass Park portfolio for $80M

Ken Stiles and The Westerra development site in Sunrise (Credit: Stiles Corp.)

Stiles sells site of planned Sunrise mixed-use project

Photo illustration of Grant Cardone (Credit: iStock)

A look at Grant Cardone’s real estate portfolio and how he raised $15M in 90 minutes at Marlins Park

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

arrow_forward_ios