Wednesday, March 26, 2014

$5.9 Million Sale of 17.34 Acre Commercial Land Tract in Fort Lauderdale, FL Arranged by Marcus & Millichap

  
Riverbend commercial land tract, 2201-2307 West Broward Boulevard, 
Fort Lauderdale, FL


Drew A. Kristol
FORT LAUDERDALE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the 17.34-acre Riverbend commercial land tract in Fort Lauderdale, FL. The asset sold for $5,900,000.

Drew A. Kristol and Kirk D. Olson, Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Sunrise, FL.  Kristol and Olson also secured and represented the buyer, a limited liability company from Fort Lauderdale. 

“This was a rare opportunity to own a core commercial development opportunity in the heart of Fort Lauderdale on Broward Boulevard, just west of the Interstate 95 on ramp.

“The previous owner invested in all utilities and site improvements for development based on the current approved site plan.

“The buyer plans to re-position the asset over time after working with the city and county to create an appropriate and redevelopment strategy,” says Kristol.


Kirk D. Olson
Zoned B-1 commercial, the site is approved for up to 180,000 square feet of office space and 71,000 square feet of retail.

The property is ideally located just minutes north of the Fort Lauderdale/Hollywood International airport and east of Downtown Fort Lauderdale.  The land tract is located at 2201-2307 West Broward Boulevard in Fort Lauderdale.


For a complete copy of the company’s news release, please contact:

Kirk Felici
First Vice President/Regional Manager
 Miami, FL

(786) 522-7000

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