Integra Investments Sells Prime Fort Lauderdale Office Building For $26.5 Million

Feb 22, 2016 No Comments by

Integra Investments announced that it has sold a Fort Lauderdale office building located at 2100 West Cypress Creek Road for $26.5 million, inclusive of interiors, fixtures and equipment.

The transaction comes on the heels of the sales success of the firm’s recently acquired downtown Miami office building located at 200 Southeast First Street, which sold for $33.85 million resulting in a gain of 61 percent.

The two-story Fort Lauderdale office building is set on 14 acres and is the former headquarters of BankAtlantic. Well-positioned next to the Fort Lauderdale Executive Airport, the property features approximately 185,000 square feet of office space and offers full-service amenities including two gyms, a cafeteria, health center and ample parking.

 

“We were originally focused on finding the appropriate single users for the building when we were approached with an offer to buy the building in its entirety. We are very pleased with this transaction as we feel we’ve found the ideal occupant for the property,” said Nelson Stabile, Principal of Integra Investments. “As a firm, we are committed to keeping a close eye on the office market for continued prospects that generate value-added opportunities for our growing portfolio.”

Integra Investments has been involved in various acquisitions in South Florida’s urban core since 2014.

The firm sold the Chase Bank office tower, located at 150 Southeast Second Avenue, in February 2014 for $23.5 million, following extensive renovations.

Additionally, the firm is developing Sereno, a luxurious, bayfront boutique property located in the exclusive Bay Harbor Island, which is currently under construction and was completely sold within just 30 days on the market.

Integra Investments is currently developing a planned 358-unit rental community in Hallandale, in addition to Aventura ParkSquare, one of the country’s most forward-thinking mixed-use development projects with health and wellness at the cornerstone of its design. The project is slated for completion in early 2017.

 

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