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Midtown Phase II aerial of development site, Plantation, FL |
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| Troy Ballard |
ARA’s South Florida
Land Division represented Miami-based American Land Ventures in the sale to
Camden Realty Trust. Land Division Vice President Troy Ballard was
supported by ARA Principals, Avery Klann and Dick Donnellan in marketing
the property.
“Midtown Phase II
offers Camden an incredible opportunity to build a trophy asset located in one
of South Florida’s most coveted locations,” noted Troy Ballard, lead broker on
the deal.
“Midtown Phase II is
within walking distance to major employment, high-end shopping, dining and
entertainment choices within the 860-acre Plantation Midtown District. This
type of location is what every multifamily developer and institutional owner is
looking for in today’s development environment.”
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| Avery Klann |
Midtown Phase II is
a 2.42-acre site that is planned for 227 multifamily units, with a height of 12
stories, and a self-contained parking garage. The site is part of a larger
tract located in the northwestern quadrant of the Midtown District Town Center.
ARA previously sold the existing 236-unit Phase I Midtown 24 apartment complex,
built in 2010, for over $290,000 per unit.
Midtown Phase II
enjoys a strategic location within the visionary Plantation Midtown District, a
master-planned development consisting of 860 acres with 2.5 million square feet
of retail and three million square feet of office. The District is home to over
50 Fortune 500 companies, such as American Express, DHL and Tradestation,
employing approximately 20,500 people.
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| Dick Donnellan |
This Class “AAA”
development’s high barrier-to-entry location in the heart of Broward County is
superbly positioned only one mile from I-595, one of the area’s major highways,
as well as within minutes from Fort Lauderdale International Airport, I-95, I-75,
the Sawgrass Expressway and Florida’s Turnpike.
For more information about ARA nationally, please contact:
Lisa Robinson at lrobinson@ARAusa.com,
678.553.9360
Amy Morris at amorris@ARAusa.com, 678.553.9366;
Marti Zenor at mzenor@ARAusa.com
or 561.988.8800.
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