Trion Group buys dev site near Port Everglades for $11M
The developer plans to build a 25,243 square foot retail center
A Bank of America branch near Port Everglades sold to a developer who plans to build a new retail center.
Bank of America sold the 22,003-square-foot bank branch at 901 Southeast 17 Street to Ken Barber of Plantation-based Trion Group.
The price equates to $449 per square foot.
Barber plans raze the existing bank building to construct three new buildings totaling 25,243 square feet with retail space, a restaurant and a new 5,000-square-foot Bank of America branch. The project would have 137 parking spaces, according to plans submitted to the city in June.
The property sits on a 2.6-acre lot and is near South Federal Highway. It is located in the ritzy Rio Vista neighborhood of Fort Lauderdale, which is home to some of the city’s most expensive residential properties. In June, the founder of Pet Supermarket bought the sprawling estate of the late H. Wayne Huizenga for $14.3 million at 1575 Ponce de Leon Drive in Rio Vista.
Bank of America paid $1.87 million for the property in 1994, records show. The Bank of America branch was built in 1974.
Barber could not immediately be reached for comment. The South Florida Business Journal first reported the news about Barber’s plans.