Chetu Acquires Office Building In Sunrise For $25M

Chetu, a software development company, has recently acquired an office property located at 1500 Concord Terrace in Sunrise. The transaction took place on June 18, 2021, with a sale price of $25,000,000. The office building spans 178,060 square feet, resulting in a price per square foot of $40. Situated on a 22-acre plot, the property was sold at an average price of $1,136,363 per acre.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $25,000,000
• Address: 1500 Concord Terrace, Sunrise
• Market: Sunrise
• Buyer: Chetu - Atal Bansal
• Seller: 1500 Concord Terrace LLC
• Broker: Jay Adams - Newmark

Atal Bansal, representing Chetu, led the buying process, while Jay Adams from Newmark acted as the broker in the deal. The acquisition signals Chetu's expansion in the office property market, adding to its portfolio of commercial assets. The transaction highlights the strong demand for office spaces in the Sunrise market.