Berger Commercial Realty’s Steve Hyatt Negotiates $7.2 Million Sale Of Fort Lauderdale Development Site
Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller, RWL 8, LLC, in the sale of a 73,595-square-foot parcel located at 901 East Sunrise Boulevard in Fort Lauderdale, Florida.
The property is located directly on East Sunrise Boulevard near downtown Fort Lauderdale and the new Searstown mega project. The front portion of the parcel is currently occupied by Hertz Rent a Car while the rear portion is vacant land.
Buyer 220145 LLC, which was represented by Kimberly Barbar of Stiles Realty Co., paid $7,225,000 for the property and is planning a retail development on the parcel.
The deal closed May 31.
“This sale continues the trend of the purchase of land or buildings on Federal Highway and Sunrise Boulevard for redevelopment spreading north from downtown and The Flagler Village area,” commented Hyatt.
The transaction marks the second large land sale Hyatt has completed for the seller. The prior sale was in Flagler Village area for the Modera 555 assemblage.
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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 is a global network comprised of privately held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide.
