Argentine investor pays $10M for Pembroke Pines retail/office complex

Silver Lakes Professional Campus sold for $278 psf

Dec.December 12, 2019 11:39 AM
From left: Bastian Laggerbauer and Harry Blyden, with 17720 Pines Boulevard

From left: Bastian Laggerbauer and Harry Blyden, with 17720 Pines Boulevard

An Argentine investor paid $10 million for an office and retail complex in Pembroke Pines.

Escape 19 C LLC, managed by Claudio Maggi, bought the Silver Lakes Professional Campus at 17720 Pines Boulevard. The property totals 35,960 square feet, equating to a sales price of $278 per square foot.

CPAC Silverlakes LLC, managed by Palms Property Management LLC of Plantation, sold the property.

The two-building complex was built in 1998 and last traded for $7.1 million in 2014. Tenants include Dunkin’, Los Tacos, Berkshire Hathaway HomeServices, Silver Lakes Dental Associates, Mayflower Beauty Salon, Foot & Ankle Sport Center, and Transform Pilates.

Colliers International South Florida’s Harry Blyden and Bastian Laggerbauer represented the seller in the deal.

Once a sleepy suburb, Pembroke Pines is seeing more interest from investors and developers. In September, NexPoint Residential, a real estate investment trust, paid $322 million for a 1,520-unit multifamily property in Pembroke Pines, marking the largest multifamily deal in South Florida this year. And in October, Miami-based Lloyd Jones bought a 206-unit apartment complex at 7850 Pasadena Boulevard in Pembroke Pines for $55.6 million.

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