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Berger Commercial Realty Closes $4.925 Million Sale of Downtown Fort Lauderdale Law Plaza

Berger Commercial Realty President Lloyd Berger and Senior Vice President Steve Hyatt recently represented CBSA Law Plaza, LLC in the $4.925 million sale of the Courthouse Law Plaza, located at 700 and 750 S.E. 3rd Ave in Fort Lauderdale, to the AIDS Healthcare Foundation, which hired the firm to manage the 52,000-square-foot office property.

Last summer, CBSA Law Plaza retained Berger Commercial Realty to reposition the property after Jacksonville-based Everbank filed a foreclosure lawsuit against the company. After several months of improvements, managed by Berger Commercial Realty Vice President of Property Management Tim Hackett, the property was listed on the market.

“Our client CBSA had several significant offers on the property, and after we helped them evaluate their options, they selected the AIDS Healthcare Foundation,” said Lloyd Berger.  “All stakeholders in the transaction were pleased with the result.”

After the sale, Everbank withdrew its lawsuit and declared the loan satisfied.

CBSA Law retained approximately one acre of land adjacent to the property, previously used as an overflow parking lot, which is now for sale. Hyatt is marketing the parcel.

About Berger Commercial RealtyFounded in 1998, Berger Commercial Realty is a full service commercial real estate firm.  A local, independent and privately-owned firm, Berger can customize services and adapt to clients needs and the ever changing real estate market.  Services include brokerage/tenant and buyer representation, property management, agency/project leasing, capital advisory / investment sales, construction/project management, and retail services. The company established a dedicated division, Berger Special Assets, to serve as receiver and enhance the value of distressed properties by providing expert management, leasing and sales representation on behalf of lenders and financial institutions. For more information, visit bergercommercial.com.

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