Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM and Senior Sales Associate Jonathan Thiel represented the seller, Cypress Executive Center, LLC, in the sale of 2900 W. Cypress Creek Road, a 42,438-square-foot, two-story office building located at 2900 W. Cypress Creek Road in Fort Lauderdale, Florida.
MMB Commercial Properties, Inc. paid $5,800,000 for the property, which is situated on 2.28 acres. MMB Commercial was represented by Jerry de los Reyes Patricio with Miami Lifestyle Realty in the transaction.
The deal closed July 30.
“The property was purchased in part due to the stable rent roll, the building being strategically located in the middle of the tri-county area, and investors seeing value add opportunity in the South Florida commercial real estate market right now,” commented Thiel.
The property was 96% occupied at the time of the sale, with a mix of office and medical tenants.
Featuring frontage on Cypress Creek Road, the fee simple property is located right next to the Fort Lauderdale Executive Airport, minutes from I-95, Florida’s Turnpike and the US 441/SR 7 corridor.
About Berger Commercial Realty/CORFAC International: Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently owned commercial real estate brokerage firms. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information about Berger Commercial Realty’s brokerage services, CALL 954.358.0900 or visit www.bergercommercial.com.
About CORFAC International: CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International has 60 North American offices and 20 offices in global markets. Founded in 1989, CORFAC firms completed more than 11,000 lease and sales transactions totaling approximately 500 million square feet of space valued in excess of $8.5 billion in 2015. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.