Office complex near Fort Lauderdale airport sells for $7M

The three office buildings are 91% occupied

Jan.January 17, 2020 05:00 PM
2001-2005 West Cypress Creek Road, Alex D. Zylberglait

2001-2005 West Cypress Creek Road, Alex D. Zylberglait

An office complex next to Fort Lauderdale-Hollywood International Airport sold for $7.2 million.

Capital Cypress LLC, managed by Jonathan Cohen and Fanny Cohen, purchased the Cypress Creek Professional Buildings at 2001-2005 West Cypress Creek Road. Bananco LLC, led by Aziz Ali, sold the property.

The three buildings total 49,867 square feet, equating to a sale price of $144 per square foot, records show.

Alex D. Zylberglait and Michael Crocchiola of Marcus & Millichap represented the seller.

2001 & 2003 Cypress Creek were built in 1975 while 2005 Cypress Creek was built in 1985. The buildings are between I-95 and Florida’s Turnpike.

The office buildings are 91 percent occupied by a technology company, doctors, dentists and accountants, according to marketing materials from Marcus & Millichap. The building has a value-add opportunity with 4,637 square feet of vacant space.

Investors’ interest in properties near Fort Lauderdale-Hollywood International Airport remains high. Privé Group recently purchased a Hampton Inn near the airport for $17.3 million. Spirit Airlines is seeking to build a new headquarters, projected to cost $250 million, in Dania Beach, just south of Fort Lauderdale-Hollywood International.

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