Avison Young Tapped To Sell Downtown Fort Lauderdale’s 121 E. Broward Blvd. Development Site

Aug 09, 2017 No Comments by

Avison Young’s Florida Capital Markets Group has been exclusively tapped to market and sell a ±1.24-acre (54,060-square-foot) development site located at 121 E. Broward Boulevard in Downtown Fort Lauderdale.

The land parcel represents an opportunity for an investor/developer to meet demand fueled by office tenants and residents choosing to live-work-play in an urban environment.

Situated directly on Broward Boulevard, a principal roadway with direct access to Interstate 95 to the west, and just two blocks away from Brightline’s new Fort Lauderdale station, the site’s favorable RAC-CC zoning allows for office, multifamily (with approximately 500 units), hotel, or mixed-use development totaling more than 500,000 square feet of rentable space. Avison Young Principals David Duckworth, John K. Crotty, CCIM, and Michael T. Fay will lead the marketing and disposition of the property on behalf of the seller.

 

“Downtown Fort Lauderdale is in the early stages of a dynamic transformation with larger building proposals and planned projects – including the nearby FATcity (Florida Arts and Technology), a 1.35-million-square-foot transit-oriented mixed-use planned development – and upgraded infrastructure with the addition of the new Wave electric streetcar system and All Aboard’s Brightline train,” said Duckworth. “Each method of transportation is expected to drastically increase Fort Lauderdale’s connectivity within the city itself and to its metropolitan neighbors to the north and south making 121 E. Broward Boulevard a unique and timely investment opportunity.”

According to Avison Young’s second quarter 2017 Broward Office Market Report, Downtown Fort Lauderdale / Central Business District boasts less than 10 percent vacancy as the professional and business services sector shows gains evidenced by tenant expansion in response to strong economic conditions. Significant growth is forecasted in a range of industries, including the leisure and hospitality sector which consistently benefits from robust tourism.

 

“As Downtown Fort Lauderdale emerges as an amenity-rich business and technology hub attracting modern professionals and residents, 121 E. Broward Boulevard offers unlimited potential to bring to market an iconic structure that will meet demand and add to the city’s evolving skyline,” said Crotty.

Avison Young’s Florida Capital Markets Group has sold $495 million worth of real estate in 2017 to-date.

 

Fay adds: “Coming out of one of the busiest summers for our team in terms of sale transactions, and with several quality listings and substantial deals in the pipeline, we anticipate the second half of 2017 to remain brisk and result in a strong outperformance of our 2016 sale volume.”

 

 

————————-

Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.

CLICK HERE TO SUBSCRIBE TODAY!

 

Go Ahead...Share!
  • email
  • Print
  • LinkedIn
  • Twitter
  • Facebook
  • Google Bookmarks
  • RSS
  • Add to favorites
Broward County Multifamily, Broward County Office, Industry News, Multifamily, NA, Office
No Responses to “Avison Young Tapped To Sell Downtown Fort Lauderdale’s 121 E. Broward Blvd. Development Site”

Leave a Reply