 |
Kaley Tuning
|
FORT LAUDERDALE, FL ––Native Realty,
the industry disruptor and neighborhood placemaker led by CEO Jaime Sturgis,
brokered a pair of notable investment sales transactions in Fort Lauderdale’s
Flagler Village.
The firm represented both sides of developer Dev Motwani’s
$6.4 million purchase of a portion of a multifamily development site in the
neighborhood, and successfully represented the seller of a mixed-use property
that is home to the popular Chops + Hops.
Sturgis
and Native Sales Director Kaley Tuning arranged the multifamily
development property sale to Motwani’s Merrimac Ventures.
 |
| Dev Motwani |
Located at 407 N. Andrews Ave., the property is part of an
assemblage approved for high-rise apartment development. Merrimac has announced
plans to develop the 30-story ArtsPark Lofts there.
The
overall project site also includes an adjacent property that was not part of
this transaction.
 |
| Jaime Sturgis |
ArtsPark
Lofts is planned to include 289 apartments, with a mix of studios, one-bedroom,
one-bedroom plus den and two-bedroom units, nearly 2,000 square feet of
commercial space and a six-story parking garage. Construction is not expected
to begin before the end of 2023.
In the
meantime, Native has been retained to lease the remaining vacant space at the
site’s existing commercial buildings. Turnkey Class A space is available for
lease.
Elsewhere in
Flagler Village, Sturgis and Senior Associate Dan Ross brokered the $4.25
million sale of a mixed-use property at 702-704 NE First Ave.
The
8,864-square-foot building is home to Chops + Hops Axe Throwing Lounge, which
has been voted “Best of Fort Lauderdale in many categories including “Best
Craft Cocktail List” and “Best Date Night.”
Other tenants include Fort
Liquordale Wine + Spirits, Mama Hank’s speakeasy and kitchen and Crossed Keys
Society tattoo studio.
Barkan Investments LLC sold the property to the Strachman Family Trust.
“These two
sales reflect the versatility and unique local knowledge of the Native team,”
Sturgis said. “Our long-term placemaking efforts in Flagler Village have
created encyclopedialike knowledge of our markets, allowing us to connect the
best buyers and sellers for Multifamily development sites, triple-net (NNN)
deals and everything in between.”
The latest
transactions follow a busy summer highlighted by Sturgis completing more than
$50 million in deals in a 30-day span.
 |
Dan Ross
|
Native now
operates from a new Fort Lauderdale office that is double the size of its
previous headquarters. The 4,000-square-foot office is located at 1926 E.
Sunrise Blvd. in the city’s Victoria Park neighborhood.
CONTACT:
Eric Kalis
Vice President,
BoardroomPR
ekalis@boardroompr.com
O 954-370-8999
C 305-794-5123
Bank of America Plaza
1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322
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www.nativerealty.com.
