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Keiser University sells pair of Fort Lauderdale office properties for $58M
Everglades College, which now owns Keiser, purchased the buildings
Keiser University sold a pair of Fort Lauderdale office properties to its owner, Everglades College, in two deals for a combined $57.6 million.
In the bigger of the two deals, an affiliate of Keiser University sold the 111,542-square-foot office complex at 1900 West Commercial Boulevard for $30.4 million, according to records. Everglades College assumed an existing $14 million loan on the property.
Built in 1976 on 6.7 acres, the complex last traded for $6 million in 1998, property records show.
In the other deal, another entity tied to Keiser University sold the six-story building at 1500 Northwest 49th Street and the adjacent 4.4-acre parking lot at 4747 Northwest 15th Avenue, records show. The building is Keiser University’s Fort Lauderdale campus, which is the school’s main campus, according to its website.
Arthur Keiser and his mother, Evelyn, founded the school in 1977. Keiser University was a for-profit school until 2011, when Arthur Keiser sold it to nonprofit Everglades College.
The building at 1500 Northwest 49th Street was constructed in 1987 on 4.2 acres. It last traded for $4.3 million in 1993, and the parking lot last traded for $2.3 million in 2010, according to deeds.
In 2017, Keiser University purchased its Daytona Beach campus at 1800 Business Park Boulevard, and its Orlando campus at 5600 Lake Underhill Road.
South Florida’s office market has seen sales activity in recent months. In July, Asana Partners, based in Charlotte, North Carolina, paid $10 million for the office building at 707 Northeast Third Avenue and the adjacent warehouse in Fort Lauderdale’s Flagler Village neighborhood.
Farther north in Jupiter, print and digital publishing company LRP Media Group bought the office building at 1395 University Boulevard for $19 million in July.