Three-Building Office Park In Davie Sells For $188 PSF

Feb 10, 2020 No Comments by

A three-building office park in Davie sold for $10.7 million.

University Park Holdings sold the 56,775-square-foot office building at 5400 S. University Drive to Reflin 22 WG LLC. Doral-based U.S. Century Bank provided a $6.42 million loan to the buyer.

The price equated to $188 per square foot.

The property last traded in 2014 when it was seized in foreclosure. The bank won a foreclosure judgment based on a $4.85 million mortgage, and then sold the judgement to University Park Holdings, which completed the foreclosure and owned the property for nearly six years.

It was built on the 6.2-acre site just north of Stirling Road in 1990.

According to a recent online listing, space in the office park is available for $16.50 per square foot. Tenants include Allstate Insurance, Chubb Insurance, TriSpark Media, and United Utility Services. The listing says ownership invested over $700,000 renovating the property and installing security cameras.

 

Source: SFBJ

 

 

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