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