Ron Osborne, Managing Director/Broker of Sperry CGA | RJ Realty, negotiated the sale of a vacant, single tenant office building at 2100 S. Andrews Ave. in Fort Lauderdale, Florida.
The deal closed April 18.
2100 S. Andrews Ave is a free-standing office building consisting of 5,200 square feet on 17,000 square feet of land with 21 parking spaces. It is situated on the SE corner of Andrews Ave and SE 21 St., ideally located minutes from the courthouses, Broward General Hospital, Port Everglades and Fort Lauderdale-Hollywood International Airport.
The property was listed at $2,800,000 and was purchased for $2,500,000 or $480 per square foot. The buyer will eventually relocate some of his staff to the building from its corporate offices in Port Everglades, however, they initially intend to lease it out for 5 years.
“This is the second building purchase I negotiated for the buyer, who is affiliated with Port Consolidated for this purpose,” commented Osborne. “The buyer leased the first building in a long-term lease.”
Osborne will be offering this location for lease with a minimum of a 5-year term at $30.00 NNN.
Osborne went on to state that finding well-located, small-user office buildings with onsite parking in the greater downtown Ft. Lauderdale area is a challenge.
“We are still working with buyers looking for office, retail and industrial properties with long term upside potential,” he added.
The Seller, RFH 2100 LLC, was represented by Brian Batchelder of Berger Commercial Realty.