FORT LAUDERDALE, Fla. (June 5, 2019) – Berger Commercial Realty/CORFAC International Senior Vice President Steve Hyatt recently negotiated the sale of 1.87 acres of land in Fort Lauderdale for $6,947,000.
The sale encompassed two properties located at 350 State Road 84 and 2400 South Andrews Avenue, near the entrance to Port Everglades as well as the Fort Lauderdale-Hollywood International Airport.
The properties were previously occupied by Sailorman Marine Supply and a van rental agency.
Hyatt represented the sellers, RWL 1 Inc. and HLT-FTL State Road 84, LLP. The buyer, Federal 627 N, LLC, also purchased a .45-acre parcel adjacent to the two sites in a separate transaction and now owns one contiguous piece of land with plans for potential development in the future. The land at 350 State Road 84 was previously approved for the development of a 153-room, business-class hotel.
“These sites are located in the heart of Fort Lauderdale, just minutes from two of our most important transportation hubs – Port Everglades and the Fort Lauderdale airport,” Hyatt said. “This corridor is ripe for potential infill and redevelopment opportunities such as transit-oriented development and other supporting uses. The new owner is a savvy investor who recognizes the long-term potential of these sites at this key intersection.”
For more information about Berger Commercial Realty’s brokerage services, call 954-358-0900.