Steve Hyatt and Joseph Byrnes of Berger Commercial Realty arrange purchase of property located across from new Broward County Courthouse Complex
FORT LAUDERDALE, Fla. (March 3, 2014) – Berger Commercial Realty brokers Steve Hyatt and Joseph Byrnes recently represented H20 Bagel LLC in the purchase of a free-standing building, located at 601 S.E. 3rd Ave. in Fort Lauderdale, for $450,000 from Michael Buckley and his family.
Located across the street from the new Broward County Courthouse, the existing building will be demolished. A new free-standing Original Brooklyn Water Bagel prototype restaurant, featuring an iconic water tower, will be built on the site.
“After a thorough search of both retail lease and sale opportunities in downtown Fort Lauderdale, the Original Brooklyn Water Bagel Company selected this site due to its highly visible corner location directly across the street from the new 741,000-square-foot Broward County Courthouse Complex, the existing Broward County School Board headquarters, and the 110 Tower,” said Berger Commercial Realty Senior Vice President Steve Hyatt.
Hyatt added that in addition to the appeal of the surrounding commercial and government office properties, the Original Brooklyn Water Bagel Company selected the site due to its proximity to more than 2,000 new residential units under development on the south side of the New River between Federal Highway and the SEC railroad tracks.
“This is a very convenient location for these new residents, as well as a central hub and stopping point for the new Wave Streetcar line scheduled to start service in 2016,” he said.
The Original Brooklyn Water Bagel purchase marks the eighth sales transaction Berger Commercial Realty has handled in the downtown Fort Lauderdale market in the past 16 months. The firm’s brokers have noted an uptick in area sales of small infill retail, multifamily residential, and well-located office buildings since early 2010.
“Businesses recognize that the momentum in downtown Fort Lauderdale is real, as evidenced by various new construction projects and cranes once again dotting the skyline. Smaller players see the opportunity to provide goods and services to a new wave of workers and residents, thus driving the demand for commercial real estate space,” Hyatt said.
About Berger Commercial Realty
Founded in 1998, Berger Commercial Realty is a full service commercial real estate firm. A local, independent and privately-owned firm, Berger customizes services and adapts 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. For more information, visit bergercommercial.com.