Office complex near Fort Lauderdale airport sells for $7M

The three office buildings are 91% occupied

TRD MIAMI /
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.


Related Articles

arrow_forward_ios
Renderings of the penthouse and Fredrik Eklund (Credit: Four Seasons Private Residences Fort Lauderdale)

Fredrik Eklund tapped to list $35M PH in Fort Lauderdale

Steven Hurwitz and Ryan Severino

JLL’s top economist forecasts low probability of a recession

Alan Hooper and 516 Northwest 1st Avenue (Credit: Google Maps)

FATVillage developer buys missing piece for mixed-use project

Bridge Development Partners partner Southeast Region Kevin Carroll and 3233-3303 Southwest 12th Avenue Fort Lauderdale

Bridge Development sells Fort Lauderdale warehouses for $28M

2300 Aqua Vista Boulevard (Credit: Realtor)

Crane mogul drops $12M on waterfront Fort Lauderdale mansion

1800 Southwest 27th Avenue

Freshwater Group buys Miami office building

400 Northeast Third Avenue, Morgan Group CEO (Credit: Google Maps)

TA Realty drops $112M on apartments in Flagler Village

Matthew Rieger and a rendering of Village View

HTG scores financing for Fort Lauderdale senior affordable housing

arrow_forward_ios
Loading...