NAIOP South Florida Announces Finalists for 2016 Awards of Excellence; Award winners will be honored February 25 at the Hyatt Regency Pier Sixty-Six

  

Caroline Fleischer

FORT LAUDERDALE, FL - NAIOP South Florida, a Commercial Real Estate Development Organization, has announced the finalists for its 2016 Awards of Excellence, which will take place on Thursday, February 25 from 5:30 to 9 p.m. in the Panorama ballroom at Hyatt Regency Pier Sixty-Six, 2301 S.E. 17th Street in Fort Lauderdale.

The Awards of Excellence recognize individuals and organizations whose achievements have contributed to the local commercial real estate industry, benefitted the regional business environment and facilitated economic growth.

Jules Morgan

"Our judges spent hours carefully reviewing and debating this year's entries to determine the finalists," said NAIOP Executive Director Jules Morgan. "We look forward to celebrating these extraordinary commercial real estate professionals and firms, all of which are deserving of winning in their respective categories."

Award categories and finalists include:

Industrial Lease Transaction of the Year

Miami International Tradeport, BTS for Ansaldo Breda, Inc/Hitachi Rail USA, represented by Liberty Property Trust

Cooper General, represented by State Street Realty

Industrial Sale of the Year

AFCEE, LLC represented by State Street Realty

Alliance Building represented by Cushman & Wakefield

Bridge Point Marina Mile facilitated by JLL and Cushman & Wakefield

Centergate at Gratigny represented by CBRE

North Miami Business Park represented by Marcus & Millichap

Show Management Industrial Center facilitated by CBRE and Cushman & Wakefield

Industrial Broker of the Year

George Pino of State Street Realty

Stephanie Rodriguez of Duke Realty

Michael Silver of CBRE

Office Lease Transaction of the Year

Cross Country Healthcare, Inc. represented by Cushman & Wakefield

Plantation Pointe / Magic Leap facilitated by Cushman & Wakefield and Torburn Partners

Simply Healthcare facilitated by Flagler Corporate Center and Colliers International South Florida

Uniform Advantage represented by JLL's Tenant Representation Team

Office Sale of the Year

777 Brickell Avenue (SunTrust Tower) represented by CBRE

2100 W. Cypress Creek Road represented by Stiles

Stephanie Rodriguez

Coconut Grove Office Portfolio represented by Marcus & Millichap

Northern Trust Bank Building represented by Marcus & Millichap

Phillips Point represented by HFF

Office Broker of the Year

Norm Adams of Stiles

Michael Fay of Avison Young

Caroline Fleischer of Cushman & Wakefield

Alfie Hamilton of Colliers International South Florida

Douglas Mandel of Marcus & Millichap

Team Broker of the Year

CBRE South Florida Capital Markets Team featuring Apone, Avalos, Carranza-Alvarez, Chick, Chilgren, Foschini, Julian, Lee, Lobon and Minaya

Cushman & Wakefield featuring Blunk, Glaria and Oswald

Cushman & Wakefield's South Florida Industrial Team featuring Etner, Metzger, McAllister and Thomson

JLL featuring Gallart and Loschiavo

State Street Realty Brokerage Team featuring Lyden and Pino

Rookie Broker of the Year

Brian Cabielles of State Street Realty

Brad Dinneen of Stiles

Lauren Gallart of JLL

Renovation / Rehab Project of the Year

Plantation Point represented by Torburn Partners

SunTrust International Center represented by Crocker Partners

The Landings at MIA represented by CBRE

University Place at City Center represented by Butters Realty and Management and Bristol Group

Lauren Gallart

 

Creative Deal Maker of the Year

Rodrigo Azpurua of Riviera Point Development Group for the Professional Center at Riviera Point

Julie Berry of Stiles for the Lauderdale Marine Center

Butters Realty and Management and Bristol Group for the Hillsboro Technology Center

Steve Hyatt of Berger Commercial Realty for the Alliance Residential Company

Economic Impact of the Year

Alliance Building represented by Cushman & Wakefield

Plantation Pointe / Magic Leap represented by Cushman & Wakefield and Torburn Partners

Project of the Year

Miramar Park of Commerce represented by Sunbeam Properties

Pembroke Park A represented by Duke Realty

Professional Center at Riviera Point represented by Riviera Point Development Group

Julie Berry

Developer of the Year

Butters Construction & Development

Duke Realty

Flagler Global Logistics

Gibson Development Partners

Finalists and winners of the Developing Leader of the Year and Member of the Year categories will be announced during the ceremony.

  

Douglas Eagon

The recipient of the 2016 Lifetime Achievement Award is Douglas Eagon, president of Stiles Corporation, whose contributions to the South Florida real estate community and to NAIOP merit the same recognition awarded to Armando Codina, Edmund Ansin and Terry Stiles in previous years. Terry Stiles will present Eagon with this year's award.

Tickets are $150 for NAIOP members and $175 for non-members. Table sponsorships are $1,500. To register, please visit http://www.naiopsfl.org/index.cfm?fuseaction=events.details&content_id=101.

For more information, visit www.naiopsfl.org,, email jules.morgan@naiopsfl.org or call 954-990-5116.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.

For a complete copy of the company’s news release, please contact:

Lexi Robinson

lrobinson@piersongrant.com

                                           

Crossman & Co. Selected to Market $625,000 Industrial Flex Building in Volusia County, FL

 

Thomas Bolen

 DeBary, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, has been named exclusive brokers to sell an 8,400 square foot industrial flex condo building.

Thomas Bolen, business development specialist, has listed the Springview Commerce Park property for $625,000.  The flex condo is located less than three miles from I-4 in the heart of growing West Volusia County and sits one mile north of the newly developed DeBary SunRail Station.

Bolen explained that Springview Commerce Park #170 consists of a flex condo with a built-out office that serves as a great opportunity for an investor or future user looking to maximize a highly-functional space.

For a complete copy of the company’s news release, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

                                           

Crossman & Co. Lands New Tenants at Three Neighborhood Retail Centers in South and West Orlando, FL

Rochelle DuBrule

ORLANDO, FL – Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated new long-term leases at three Orlando area retail centers on behalf of the landlords.

Crossman & Company Associate Tyler Wilkins handled the lease of 1,600 square feet to Hair Genius a traditional barbershop for men at Regency Village, an 83,500 square foot Publix-anchored shopping center at 81145 Vineland Ave. in the International Drive area of South Orlando. 

In west Orlando, Senior Associates Rochelle DuBrule and Katherine Rush represented the landlord at Silver Hills in a lease agreement with Pizza Hut for 2,112 square feet.  The 109,000 square foot shopping center anchored by Winn Dixie is located at 2701-2730 N. Pine Hills Rd.

Rush and DuBrule also leased 900 square feet to AYS Financial, a tax services and financial planning firm at Lake Olympia Square, the 87,566 square foot Winn Dixie-anchored shopping center at 1501 E. Silver Star Rd. in Ocoee.  Gregory Crevecoeur of Evernova represented the tenant.

For a complete copy of the company’s news release, please contact: 

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142 Lvershelco@aol.com

  

Berkadia Closes on 220 Apartment Units in Hoover, AL

 

David Oakley

 BIRMINGHAM, AL--- Berkadia recently negotiated the sale of Waterford Landing, a 220-unit apartment community located in Hoover.  Built in 1990, Waterford Landing is a three-story, garden-style community with an average unit size of 999 square feet.

David Oakley, Managing Director, and Royce Emerson, Senior Director of Berkadia Real Estate Advisors, LLC represented the seller, Waterford Landing 2012, LLC. The purchaser was FPA/WC Waterford, LLC.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

For a complete copy of the company’s news release, please contact: 

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142 Lvershelco@aol.com

  

NAI Realvest Negotiates $910,000 Sale of Sanford, FL Auto Mall Property

 

Kevin O'Connor

ORLANDO, FL – NAI Realvest recently negotiated the $910,000 sale price for two adjoining commercial buildings totaling 14,400 useable square feet built in 1988 on 1.65-acres at 2710-2714 S. Orlando Drive (U.S. 17-92) in Sanford.

The NAI Realvest retail team of Kevin O’Connor and Matt Cichocki represented Trade Investment Property, Inc. the local seller of the property known as Sanford Auto Mall, which is 100 percent occupied by successful long-term tenants in the automotive services industry. 

The buyer, Clarindo, LLC of Coconut Creek, Fla., was represented in the transaction by Javier Kogan of A-Plus Realty.

For a complete copy of the company’s news release, please contact: 

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142 Lvershelco@aol.com

  

Berger Commercial Realty Closes $1.9 Million Sale of Site for Flagler Village Hotel Project in Downtown Fort Lauderdale, FL

  

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Judy Dolan and St. George Guardabassi recently represented the Curtis T. Bell Trust in the $1.9 million sale of a downtown Fort Lauderdale site to 315 Flagler, LP.

The site is slated for the new Flagler Village Hotel, a $25 million project managed by developer and hotel operator Dev Motwani.

Located from 315 to 333 N.W. 1st Avenue, the 24,000-square-foot site currently consists of four contiguous parcels including a 4,100-square-foot office building and nearby parking lot. The site will be developed into a 195-room hotel with retail space, amenities and 100 parking spaces. When finished, the property will total nearly 200,000 square-feet.

"The site offers close proximity to the planned Brightline train station, formally known as All Aboard Florida, and the new Wave Street Car route, making it a prime site for redevelopment," said Dolan.

St. George Guardabassi

A burgeoning Fort Lauderdale neighborhood, Flagler Village spans from Broward Boulevard to Sunrise Boulevard and from Federal Highway east to the FEC Railway.

"Over the last few years, multiple redevelopment projects, rebranding campaigns and community grassroots efforts have resulted in Flagler Village becoming an attractive, avant-garde setting for Fort Lauderdale's young professionals," said Guardabassi. 

"It's home to FAT Village, Peter Feldman Park, Mockingbird Trail, state-of-the-art condos and multiple in-progress developments that will further its transformation."

For a complete copy of the company’s news release, please contact:

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

CBRE Arranges $42 Million Sale of Luxury Apartments in Orlando, FL

Shelton Granade

Orlando, FL –– Shelton Granade, Luke Wickham, and Justin Basquill of CBRE Investment Properties arranged the sale of The Glenn, a luxury apartment community at 10801 Heather Ridge Circle in Orlando, Florida.

he 396-unit complex was acquired from Heather Glen Holding Company LLC by Insula Companies for $42 million. CBRE provided exclusive representation to the seller.

“Although community amenities and exterior features of The Glenn were extensively upgraded in recent years, the interiors still presented the new ownership with a great value-add opportunity,”  said Mr. Granade, CBRE Vice Chairman.

“As an added attraction, this well-appointed community occupies a very high-demand location near the University of Central Florida,”

The Glenn features three pools with sundeck and tanning areas, a clubhouse, sand volleyball, and a newly constructed 2,500-square-foot fitness center with spin and yoga room. Constructed in 1986 and updated in 2014-15, the community was 95% occupied at closing.

Mr. Granade and his Central Florida Multi-Housing team have executed more than $6 billion in apartment transactions in the Orlando area.

For a complete copy of the company’s news release, please contact:

Elizabeth Cross

Daniel Jimenez

+1 305 428 6373

+1 407 839 3191

elizabeth.cross@cbre.com

 daniel.jimenez@cbre.com

www.cbre.com.

Marcus & Millichap Brokers $6.75 Million Sale of 40,000-SF Parkway Professional Center in Lakeland, FL

Krone Weidler

LAKELAND, FL, Feb. 10, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Parkway Professional Center, a 40,000-square foot medical and professional office building located in Lakeland, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,750,000.

L.J. Tsunis, associate, and Krone Weidler, vice president investments, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a REIT, was secured and represented by Kimberly Cameron, an associate in the firm’s Nashville office. 

Parkway Professional Center is located at 4725 U.S. Highway 98 South in Lakeland, Florida. Constructed in 2009, Parkway Professional Center sits on an approximately 2.68 acre parcel with ingress and egress to the property located on the southbound side of U.S. Highway 98. The property is approximately one mile south of the Polk Parkway allowing easy access to Tampa and Orlando.

“We had tremendous interest in this asset from investors all across the country and were able to put the property in contract in under 30 days,” says Tsunis. “Investors, particularly REITs, are looking for Class A quality medical office buildings that are close to a hospital or have hospital affiliated tenants.”

For a complete copy of the company’s news release, please contact:

                              

Richard D. Matricaria

Vice President/Regional Manager

 Tampa, FL

(813) 387-4700

RealtyTrac Reports onTop 5 Most Vacant U.S. Cities

MSA	ALL Residential Properties	Vacant Properties	Vacancy Rate
Flint, MI	154,137	11,605	7.5%
Detroit-Warren-Dearborn, MI	1,539,609	81,190	5.3%
Youngstown-Warren-Boardman, OH-PA	156,861	6,979	4.4%
Beaumont-Port Arthur, TX	124,939	4,695	3.8%
Atlantic City-Hammonton, NJ	112,765	4,191	3.7%

Top 5 U.S. Cities Running out of Rooms

MSA	ALL Residential Properties	Vacant Properties	Vacancy Rate
San Jose-Sunnyvale-Santa Clara, CA	443,387	858	0.2%
Fort Collins, CO	105,876	246	0.2%
Manchester-Nashua, NH	117,729	342	0.3%
Provo-Orem, UT	131,449	397	0.3%
Lancaster, PA	148,177	457	0.3%

1.       Out of nearly 85 million residential properties (1 to 4 units) nationwide, more than 1.3 million (1.6 percent) were vacant in February 2016, down from 1.5 million vacant (1.8 percent) in September 2015.

2.       Investment properties are more likely to be vacant (4.3 percent vacancy rate nationwide), but investment property vacancy rates a rock-bottom 3 percent in more than one-third of U.S. markets — good news for landlords but bad news for renters in those markets.

3.       Vacant “zombie” foreclosures were down 4 percent from a year ago nationwide, but continue to increase in a minority of markets, mostly those with a protracted foreclosure process or high numbers of blighted properties.

o   Metro areas with the biggest increase in zombie foreclosures from a year ago included Worcester, Massachusetts (up 163 percent), Providence, Rhode Island (up 148 percent), Boston (up 111 percent), St. Louis (up 108 percent), and Detroit (up 71 percent).

 For a complete copy of the company’s news release, please contact:

jennifer.vonpohlmann@realtytrac.com

Pulte Homes at Royal Estates near Windermere, FL to Celebrate Opening Phase 2 with 62 Additional Homesites

Lyndsey Patterson

ORLANDO, FL--- Royal Estates, the luxury community of single-family homes in the Windermere area off Reams Rd. at 9412 Royal Estates Blvd. Orlando, will host a celebration - the opening of Phase 2 with 62 additional home sites on Saturday, Feb. 20.

Lyndsey Patterson, director of marketing for Pulte Homes in the Orlando region, said that out of the 62 new home sites at Royal Estates, 30 of them will be waterfront – a welcome opportunity for the area.  In addition, roads into Phase 2 have been completed so home buyers may drive through the entire community.

The community offers four one and two-story home designs with four, five and six bedrooms, up to six baths, and three-car garages,  priced starting from the high-$300s to $500s.

Amenities at Royal Estates include a resort style swimming pool, cabana and tot lot. The area boasts top-rated Windermere schools and convenience to Orlando area attractions, shopping complexes with brand-name chains and downtown districts with specialty boutiques.     

Pulte’s new “Life Tested® homes at Royal Estates range in size from 2,489 square feet of living space to 4,200 square feet and offer optional features such as loft spaces, Pulte Planning Centers, multi-generational suites and tile roofs.

Patterson said the event, which is open to the public from 1 to 3 p.m., will feature music entertainment and refreshments.

 For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Bull Realty Brokers $3.1 Million Learning Experience Site in Jacksonville, FL

Nancy Miller

ATLANTA, GA  —Bull Realty brokered the sale of a Learning Experience in Jacksonville, Florida. The sale closed on Feb. 1, 2015 for $3.1 million at a 7.7% cap rate. The property is a 10,000 SF single tenant net lease investment.

The Learning Experience, a child care provider founded in Florida in 1980, has locations nationwide and is the fastest growing child care franchise in the U.S.

Michael Bull, CCIM, Nancy Miller, SVP and Will Jackel, VP, with the National Net Lease Investment Group with Bull Realty, represented the buyer, Diagoris Properties LLC. Lori Schneider with Marcus & Millichap represented the seller, Jacksonville Wolf Bay, LLC.

According to Ms. Miller “The buyer bought several properties, paying all cash as part of a 1031 exchange in 2015.  

"They took advantage of the current low interest rates to leverage a few properties from the original portfolio to buy additional properties at a higher cap, which improved their cash on cash return.”

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com).

The popular weekly show is broadcast on 47 radio stations nationwide, iTunes, YouTube and CREshow.com. Bull Realty FL License # CQ1026029

 For a complete copy of the company’s news release, please contact:

Melissa Henry

Communications Associate

Bull Realty, Inc.

50 Glenlake Pkwy, Suite 600

Atlanta, GA  30328

404-876-1640 x 110

Runway at Playa Vista, CA Takes Flight

Runway Playa Vista Mixed-Use Development, Playa Vista, CA

David Binswanger

PLAYA VISTA, CA, (Feb.10, 2016)—The development team of Lincoln Property Company and Phoenix Property Company, with their capital partner Alcion Ventures, have sold the 14-acre Runway Playa Vista mixed-use development to Invesco Real Estate in one of the largest real estate transactions of the year.

HFFrepresented the development team in both the capitalization and sale of this iconic property.

“This sale caps nearly a decade since Lincoln began its work at Playa Vista, and it’s incredible to see the vision come to life in such a significant way,” said David Binswanger, Senior Executive Vice President of Lincoln Property Company.

 “Playa Vista had been an idea for decades, and the completion of Runway demonstrates that the Playa Vista community concept was smart, visionary and achievable. Lincoln is proud to have played a meaningful role alongside so many other talented companies, real estate professionals, architects, urban planners, community leaders, pioneering residents and government officials that helped bring the Playa Vista concept to life.”

For a complete copy of the company’s news release, please contact:

Steve Sugerman

(310) 974-6680

steve@sugermangroup.com

Sale of boutique Cambridge, MA hotel closed by HFF

Hotel Tria, Alewife Brook Parkway, Cambridge, MA

Denny Meikleham

BOSTON, MA, Feb. 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of The Hotel Tria, a 121-room Best Western Plus Hotel in Cambridge, Massachusetts.

         

HFF marketed the property on behalf of the seller, Boston-based KW Development LLC, who has developed, owned and managed several hotels throughout New England since its inception in 1984.

          

The Hotel Tria was completely redeveloped and expanded in 2009 from a 69-room limited service hotel to a 121-room boutique hotel with brand new furnishings, mechanical systems and public space.

  The four-story hotel features Hotel Tria Bar 220, Starbucks Café, complimentary hot breakfast, complimentary high speed Internet access, complimentary shuttle service, complimentary parking, a business center, fitness room and two meeting rooms totaling 1,014 square feet.

The Hotel Tria is situated on  Alewife Brook Parkway within walking distance of the MBTA Alewife Station, providing access to Harvard Square, Davis Square, Kendall Square and downtown Boston. 

Local demand drivers include Harvard University, MIT and Tufts University, all of which are within three miles of the property.  In addition, the hotel is situated in the West Cambridge office and laboratory submarket providing corporate demand from biotechnology and life science companies, Biogen Idec, Novartis, Pfizer and Sanofi/Genzyme and others such as Raytheon and Forrester Research.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF hires Carrie Kahn as a director to focus on multi-housing investment sales transactions in the Pacific Northwest

                                 

Carrie Kahn

PORTLAND, OR,  Feb. 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Carrie Kahn has joined the firm as a director in its Portland office.  Ms. Kahn will focus on multi-housing investment sales transactions in the Pacific Northwest.

Ms. Kahn has more than 10 years of multi-housing experience and joins HFF from CBRE where she was a first vice president in the investment properties group.  During her tenure at CBRE she was involved in more than $1.5 billion of multi-housing transactions in Portland as well as Chicago, where she began her career. 

Ms. Kahn has also worked at Fifield Companies, a multi-housing and office development and acquisitions firm, and in the real estate banking group of JP Morgan. 

Nicholas Kucha

She is a member of Urban Land Institute and is a licensed real estate broker in Oregon, Washington and Illinois.  Ms. Kahn holds a Bachelor of Science in Finance from the University of Illinois at Urbana-Champaign.   

“Carrie is a tremendous addition to our Pacific Northwest multi-housing team led by Ira Virden,”  said Nicholas Kucha, senior managing director and co-head of HFF’s Portland office.

“Her background encompasses all facets of the multi-housing industry – acquisitions, dispositions, development, asset management and banking – and she has wonderful relationships with many of the prominent players in the Pacific Northwest area.

“2015 was a banner year for our multi-housing team as they were ranked the #1 multi-housing broker in Portland by volume according to Real Capital Analytics and we look forward to seeing what 2016 will bring with the addition of Carrie to the group.”

“The addition of Carrie to our Pacific Northwest multi-housing team will further our ability to continue to grow our footprint into Seattle and other markets in the Northwest,"   added Matthew Lawton, executive managing director and a member of HFF’s Executive Committee.  "It is an unusual opportunity to get a very experienced young producer like Carrie and we are very fortunate to have her join the HFF team.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

$3.2 Million Sale of Development Site in Fort auderdale, FL Brokered by Marcus & Millichap

  

 

Joseph Thomas

FORT LAUDERDALE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Tidewater Development Site,  a 30,538-square foot waterfront land parcel located in Fort Lauderdale, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $3,200,000.

“The northern section of Fort Lauderdale Beach is experiencing a tremendous amount of redevelopment. This was a unique opportunity to acquire a AAA waterfront location on the Barrier Island,” says Duncan, a senior associate in Marcus & Millichap’s Fort Lauderdale office.

“We received 18 offers in two weeks, 16 of which were at or above list price.  Ultimately, the sellers selected the buyer who could close in the shortest amount of time, offered $700,000 above list price and waived all due diligence contingencies upon the execution of the contract.”

Duncan along with Joseph P. Thomas, a vice president investments, and Derek Soven, an associate, all in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Baldwinsville, NY, and the buyer, a private investor from Fort Lauderdale, Fla.

Derek Soven

“The property is currently zoned RMH-60, which provides the buyer with the potential to redevelop the site into a residential building of up to 42 units or a hotel of up to 60 rooms,” says Thomas. “Auberge Beach Residences, a two-tower, 171-unit oceanfront condominium estimated for completion in late 2017, is located nearby.”

Situated a few blocks south of Oakland Park Boulevard and a few blocks west of North Ocean Boulevard (A1A), the Tidewater development site consists of two adjacent waterfront parcels totaling 0.7011 acres of land with approximately 219 linear feet of water frontage. The site is currently improved with a 17-unit multifamily complex.

The property allows for convenient access to many local shops, restaurants and attractions, including Bokampers Sports Bar & Grill, Shooters Waterfront, Lauderdale-by-the-Sea fishing pier, the Coral Ridge Mall and The Galleria at Fort Lauderdale.

Tidewater development site is located at 3115 - 3209 NE 28th Street in Fort Lauderdale. 

For a complete copy of the company’s news release, please contact:

Ryan Nee

Regional Manager, Fort Lauderdale

(954) 245-3400