Sunday, March 30, 2014

Marcus & Millichap Marketing South Florida Office Asset Listed at $14 Million


Cypress Executive Center, 1901 West Cypress Creek Road, Fort Lauderdale, FL

Douglas K. Mandel

FORT LAUDERDALE, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced it is marketing for sale the Cypress Executive Center, a 140,635-square-foot office building in the Cypress Creek business district of Fort Lauderdale, Fla.

The $14 million listing price equates to just less than $100 per square foot. Douglas K. Mandel, first vice president investments in Marcus & Millichap’s Fort Lauderdale office, is representing the seller.

            “Cypress Executive Center’s higher-than-average retention ratio is a testament to its outstanding location, proximity to local area amenities and overall quality,” says Mandel. ”The submarket has seen occupancy levels increase and fundamentals strengthen over the past several quarters.”

            The property is located between downtown Fort Lauderdale and Boca Raton approximately one mile west of Interstate 95 on the north side of West Cypress Creek Road at 1901 West Cypress Creek Road. The location is one-quarter mile from the Fort Lauderdale Executive Airport and nine miles from downtown Fort Lauderdale.

            Built in 1986 on 9.8 acres, the six-story building features large floor plates with central core common areas and hallways. Offices along the perimeter of the building provide natural light and views of the tropical Florida landscape.


Gina Relva
Public Relations Manager
(925) 953-1716

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