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| Former AIDS Healthcare Foundation Inc. headquarters, 955 South Federal Highway, Fort Lauderdale, FL |
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| Steve Hyatt |
FORT LAUDERDALE, FL- Berger Commercial Realty Senior Vice
President Steve Hyatt announced the sale of a 24,000-square-foot office
building in Fort Lauderdale from the AIDS Healthcare Foundation, Inc. to Sapphire
Investment Fund, LLC.
Located at 955 S. Federal Highway, the four-story
building and adjoining parking lot sold in two separate transactions for a
total of $2,025,000.
"I had
tremendous interest in this property and showed it close to 60 times," said
Hyatt, who represented the Foundation in the transaction.
"The buyer is an
Australian developer who plans to spend more than $2 million to extensively
renovate the building for speculative office space." There were three other buyer groups in line
as back- ups"
The high-visibility
building along Federal Highway , which formerly housed the Broward County
Building and Zoning department, was completely gutted on the inside prior to
the sale.
"This sale
marks our seventh in downtown Fort Lauderdale since October 2012, bringing our
recent sales volume in the area to $26 million," Hyatt added.
"This sub-market of Broward County has seen a big surge
in sales of well-located office buildings under 50,000 square feet. There is
not much available product left in this size range for the owner/user or the
speculative investor."
For a complete copy of the company’s news release, please
contact:
Marielle Sologuren
(954) 776-1999, ext. 226
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