MERRIMAC VENTURES Acquires Dev Site In Fort Lauderdale For $14M

A development site in Fort Lauderdale was recently sold for $14,000,000. The property, located at 317 N. Federal Highway and 515 NE 3rd Street, spans a total square footage of 76,230. The transaction reflects a price per square foot of $183. The sale took place on September 29, 2020.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $14,000,000
• Address: 317 N. Federal Highway & 515 NE 3rd Street, Fort Lauderdale
• Square Footage: 76,230
• Price per Square Foot: $183
• Market: Fort Lauderdale

Merrimac Ventures acquired the property from Fox Family in this transaction. The buyer was represented by Adam J. Tiktin and Alejandro Snyder, both from Tiktin Real Estate. They facilitated the deal on behalf of Merrimac Ventures. This sale marks a significant development for the Fort Lauderdale market.