Posted on November 3, 2015 · Posted in Industrial / Flex, Investments, Office

With a pent-up demand for investments in Broward County, Avison Young is executing a noteworthy strategy for its clients.

The result: the firm brokered the $3.9 million sale of Plantation Technology Park Building II, a 37,911-square-foot office and industrial building at 1850 NW 69th Avenue in Plantation.

Avison’s David Duckworth, vice president of investment sales, says his strategy was to list the 100% occupied asset unpriced. He marketed the asset for the seller, Matecumbe Rand Plantation I.

“With activity in the first three quarters of 2015 causing investment sales in Broward to surpass the sales total of 2014, there is an increased demand from investors seeking in place income-high leased assets within burgeoning suburban sectors,” Duckworth tells GlobeSt.com. “This asset was highly attractive due to its occupancy at 100% in a submarket that is currently lacking new construction and experiencing tightening vacancy—a trend that will continue.”

Plantation Technology Park built in 1948 as the first industrial park in Broward County. The park sits on 160 acres in the northeastern section of the City of Plantation. The area is home to Motorola Mobility’s 1 million-square-foot headquarters facility.

Duckworth has been a part of over $500 million in transactions. Just weeks prior the close of Plantation Technology Park Building II, Duckworth also closed the sale of Bank of America Center, a 50,000-square-foot class A multi-tenant office building in Coral Springs. Using the same strategy, asset was listed unpriced.

 

Source: GlobeSt.

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