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